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Analyst Conference Summary
biotechnology
Gilead Sciences
GILD
conference date: August 7, 2025 @ 1:30 PM Pacific Time
for quarter ending: June 30, 2025 (second quarter, Q2 2025)
Overview:
Basic data (GAAP):
Revenue was $ billion, down % sequentially from $6.67 billion and nearly flat from $ billion in the year-earlier quarter.
Net income was $ billion, down % sequentially from $1.32 billion and up from $ billion year-earlier.
Earnings per share (EPS, diluted) were $, down % sequentially from $1.06, and up from $ in the year-earlier quarter.
Guidance:
Conference Highlights:
Daniel O'Day, CEO, said ""
The dividend of $0.79 per share, is to be paid on September, 2025 to shareholders of record as of September, 2025.
In Q4 2024 filed the NDA for twice-yearly lenacapavir for PrEP. The PDUFA date is June 19, 2025. In Q3 2024 Lenacapavir for HIV reported positive Phase 3 results for twice-yearly HIV prevention. For oral once-weekly dose combined with Merck's islatravir Phase 2 data also reported. Six royalty-free licensing agreements were signed with manufacturers for sale in resource-limited nations.
Non-GAAP numbers: Net income was $ billion, down % sequentially from $2.29 billion and up from $ billion year-earlier. Non-GAAP EPS was $, down % sequentially from $1.81 and up from $ year-earlier.
Product sales were $ billion, down sequentially from $6.61 billion and down % from $ billion in the year-earlier quarter.
| Gilead Revenues by product ($ millions): | ||||
| Q2 2025 | Q1 2025 | Q2 2024 | y/y increase | |
| Biktarvy | $ |
$3,150 |
$ |
% |
| Descovy | 586 |
% |
||
| Genvoya | 364 |
% |
||
| Odefsey | 281 |
% |
||
| Symtuza | 114 |
% |
||
| Other HIV | 91 |
% |
||
| Sofosbuvir/Velpatasvir | 346 |
% |
||
| Vemlidy | 252 |
% |
||
| other liver disease | 161 |
% |
||
| Yescarta | 386 |
% |
||
| Tecartus | 78 |
% |
||
| Trodelvy | 293 |
% |
||
| Veklury | 302 |
% |
||
| AmBisome | 139 |
% |
||
| Other | 209 |
% |
||
Royalty, contract and other revenue was $ million, up sequentially from $54 million, and up from $ million year-earlier.
Cash and equivalents ended at $ billion, down sequentially from $7.93 billion. $ billion cash flow from operations. Capital expense $ million. $ billion free cash flow. $ million was used to repurchase shares. $ million paid in dividends. Long term liabilities were $25.0 billion.
Numerous other studies are underway or planned; see Gilead pipeline.
Expenses were $ billion, consisting of $ billion for cost of goods sold; $ billion for R&D; $ million acquired in-process R&D; $ billion SG&A. Leaving income from operations of $ billion. Interest expense $ million. Other expense $ million. Income tax expense $ million.
Capital allocation priorities are to grow the dividend and pay down debt.
Q&A selective summary:
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Disclaimer: Our analyst summaries may include both our condensations of statements made by company representatives and our own analysis. They are not covered by any warranty. We cannot guarantee anything said by company representatives is true. We try not to make errors, but it is possible. Before making or terminating an investment you should always verify any factual basis of your decision.
Copyright 2025 William P. Meyers