VRTX · Earnings call · 2026Q3T · Full report

Gross Margin Drivers

VERTEX PHARMACEUTICALS INC / MA · 2026-11-02 · Importance 20 · Surprise 24

Third-quarter non-GAAP gross margin was 85.6%, while GAAP gross margin was 84.7%. The GAAP result included intangible-asset and inventory step-up amortization arising from purchase accounting for the Crinetics acquisition. Management expects full-year 2026 gross margins to be slightly below 86%.

Key facts

• Q3 2026 non-GAAP gross margin was 85.6%.
• Q3 2026 GAAP gross margin was 84.7%, including intangible asset and inventory step-up amortization from Crinetics purchase accounting.