Jun 2026 (Q2 FY26) — Aug 4, 2026
Gilead Q2 FY26 — Strong Commercial Execution and Pipeline Advancement
Read the full callGilead (GILD) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Gilead earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 7,803 | +10.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -133.2 | −168.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -10,496 | −635.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
42 of 48 judged targets kept · 33 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Bulevirtide (Hepcludex) U.S. availability for chronic hepatitis delta | bring it to patients in the U.S. in 2026 | Sep 2025 | We also launched Hepcludex in the U.S. this quarter as the first and only FDA-approved treatment for chronic hepatitis delta virus | Achieved |
| BIC/LEN (bictegravir + lenacapavir) U.S. commercial launch | product launch in early 2027 | Sep 2025 | U.S. launch preparations are currently underway for bictegravir plus lenacapavir... where we expect an FDA priority review decision later this month | Revised Up |
| Start Phase I study of KITE-363 in neuroinflammatory conditions | start in the first quarter of 2026 | Sep 2025 | [cell therapy section covers Arcellx, anito-cel and the D-Domain binder platform; the KITE-363 neuroinflammation Phase I is not addressed] | Ghosted |
6 of GILEAD SCIENCES, INC.'s 81 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 78 more targets are in the full ledger.
Claimed
- Base business sales increased 10% year-over-year to $7.6 billion, driven by HIV, Trodelvy, and Livdelzi.
- HIV sales grew 12% year-over-year to $5.7 billion, with Biktarvy sales up 7% to $3.8 billion.
- PrEP business sales doubled year-over-year, exceeding $1 billion quarterly for the first time, with an annual run rate of $4 billion.
- Trodelvy sales were up 26% year-over-year to $457 million, driven by strong demand and new first-line approvals.
- Livdelzi sales more than doubled year-over-year to $167 million, establishing it as the leading second-line PBC regimen.
Qualified
- Cell therapy sales were down 14% year-over-year to $417 million due to ongoing in and out-of-class competition.
- Veklury sales are now expected to be approximately $300 million for FY26, down from $600 million previously, reflecting lower COVID-19 hospitalizations.
- HIV treatment market growth slowed in Q2 due to changes in the Affordable Care Act, impacting patient insurance coverage.
Price
$153.07 −2.00% · −$3.12
Performance +24.6% 1Y
1Y: $122.81 on 17 Oct 2025 → $153.07. High $157.37 (15 Oct 2026), low $117.88 (28 Oct 2025).
- Previous close
- $156.19
- 52-week range
- $117.88 – $157.37
- One year
- +24.34%
Overview
- Symbol
- GILD
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
42 of 48 judged targets kept · 33 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Bulevirtide (Hepcludex) U.S. availability for chronic hepatitis delta | bring it to patients in the U.S. in 2026 | Sep 2025 | We also launched Hepcludex in the U.S. this quarter as the first and only FDA-approved treatment for chronic hepatitis delta virus | Achieved |
| BIC/LEN (bictegravir + lenacapavir) U.S. commercial launch | product launch in early 2027 | Sep 2025 | U.S. launch preparations are currently underway for bictegravir plus lenacapavir... where we expect an FDA priority review decision later this month | Revised Up |
| Start Phase I study of KITE-363 in neuroinflammatory conditions | start in the first quarter of 2026 | Sep 2025 | [cell therapy section covers Arcellx, anito-cel and the D-Domain binder platform; the KITE-363 neuroinflammation Phase I is not addressed] | Ghosted |
Claimed
- Base business sales increased 10% year-over-year to $7.6 billion, driven by HIV, Trodelvy, and Livdelzi.
- HIV sales grew 12% year-over-year to $5.7 billion, with Biktarvy sales up 7% to $3.8 billion.
- PrEP business sales doubled year-over-year, exceeding $1 billion quarterly for the first time, with an annual run rate of $4 billion.
- Trodelvy sales were up 26% year-over-year to $457 million, driven by strong demand and new first-line approvals.
- Livdelzi sales more than doubled year-over-year to $167 million, establishing it as the leading second-line PBC regimen.
Qualified
- Cell therapy sales were down 14% year-over-year to $417 million due to ongoing in and out-of-class competition.
- Veklury sales are now expected to be approximately $300 million for FY26, down from $600 million previously, reflecting lower COVID-19 hospitalizations.
- HIV treatment market growth slowed in Q2 due to changes in the Affordable Care Act, impacting patient insurance coverage.
The full ledger
Open GILEAD SCIENCES, INC.’s full ledger
A free account opens 5 company ledgers a month. All 81 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Gilead Q1 FY26 — Strong Commercial Performance and Increased Guidance
Read the full callDec 2025 (Q4 FY25) — Feb 10, 2026
Gilead Q4 FY25 — Strong HIV and Livdelzi Performance Drives Sales Beat, Robust 2026 Launch Pipeline
Read the full callEvery analysed call
Gilead earnings calls (GILD)
Financials
What the filings say
Net profit, year on year: −636% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7,545 | 7,569 | 6,667 | 7,082 | 7,769 | 7,925 | 6,960 | 7,803 |
| Expenses | 6,657 | 5,118 | 4,430 | 4,608 | 4,442 | 5,941 | 4,374 | 18,197 |
| Operating profit | 888 | 2,452 | 2,237 | 2,474 | 3,327 | 1,984 | 2,586 | -10,394 |
| Operating margin | 11.8% | 32.4% | 33.5% | 34.9% | 42.8% | 25.0% | 37.2% | −133.2% |
| Other income | 306 | -36 | -328 | 208 | 569 | 349 | 235 | 387 |
| Interest | 238 | 248 | 260 | 254 | 256 | 254 | 240 | 247 |
| Profit before tax | 956 | 2,167 | 1,649 | 2,429 | 3,641 | 2,077 | 2,580 | -10,254 |
| Tax rate | −31.1% | 17.8% | 20.3% | 19.3% | 16.2% | −5.1% | 21.7% | −2.4% |
| Net profit | 1,253 | 1,783 | 1,315 | 1,960 | 3,052 | 2,183 | 2,021 | -10,496 |
| EPS ($ per share) | 1 | — | 1.06 | 1.57 | 2.46 | — | 1.63 | -8.45 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 19,024 | 19,388 | 14,381 | 16,324 | 15,687 | 16,304 | 11,497 | 13,730 |
| Total liabilities | 42,141 | 38,977 | 50,186 | 46,888 | 41,962 | 39,376 | 39,749 | 36,405 |
| Fixed assets | 4,006 | 4,502 | 4,967 | 5,121 | 5,475 | 5,317 | 5,414 | 5,606 |
| Investments | 12,149 | 12,721 | 1,411 | 1,182 | 973 | 1,179 | 0 | 68 |
| Total assets | 63,675 | 61,627 | 68,407 | 67,952 | 63,171 | 62,125 | 58,995 | 59,023 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 8,400 | 9,144 | 8,168 | 11,384 | 9,072 | 8,006 | 10,828 | 10,019 |
| Cash from investing | 14,355 | -7,817 | -14,615 | -3,131 | -2,466 | -2,265 | -3,449 | -4,793 |
| Cash from financing | -12,318 | -7,634 | 770 | -8,877 | -6,469 | -5,125 | -3,433 | -7,745 |
| Net cash flow | 10,352 | -6,309 | -5,634 | -659 | 74 | 673 | 3,906 | -2,428 |
| Capital expenditure | -924 | -825 | -650 | -579 | -728 | -585 | -523 | -563 |
| Free cash flow | 7,476 | 8,319 | 7,518 | 10,805 | 8,344 | 7,421 | 10,305 | 9,456 |
GILD revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| HIV Product Sales | 67% | 72% | 69% | 72% | 68% | 73% | 72% | 73% | +11.9% |
| HIV Products Biktarvy | 46% | 50% | 47% | 50% | 47% | 50% | 48% | 48% | +6.9% |
| HIV Products Descovy | 8% | 8% | 9% | 9% | 9% | 10% | 12% | 12% | +48.1% |
| Liver Disease | 10% | 10% | 11% | 11% | 11% | 11% | 11% | 11% | +10.3% |
| Oncology Product | 11% | 11% | 11% | 12% | 10% | 11% | 12% | 11% | +2.8% |
| Trodelvy | 4% | 5% | 4% | 5% | 5% | 5% | 6% | 6% | +25.5% |
| Cell Therapy Products Total Cell Therapy Product Sales | 6% | 6% | 7% | 7% | 6% | 6% | 6% | 5% | -14.0% |
| Other Products Yescarta | — | — | 6% | 6% | 4% | 5% | 5% | 4% | -12.0% |
| Liver Disease Products Sofosbuvir Velpatasvir | 5% | 4% | 5% | 5% | 4% | 3% | 4% | 4% | -11.4% |
| HIV Products Genvoya | 6% | 6% | 5% | 5% | 5% | 5% | 4% | 4% | -23.3% |
| Liver Disease Products Vemlidy | 3% | 3% | 4% | 4% | 4% | 4% | 3% | 4% | +14.7% |
| HIV Products Odefsey | 4% | 4% | 4% | 4% | 4% | 4% | 3% | 3% | -19.8% |
| HIV Products Yeztugo | — | — | — | — | — | — | 2% | 3% | — |
| Royalty Contract and Other | <1% | <1% | 1% | <1% | 5% | <1% | <1% | 2% | +551.9% |
| Liver Disease Products Livdelzi | — | — | — | — | — | — | 2% | 2% | — |
| Other Products Total Other Product Sales | 3% | 2% | 3% | 3% | 2% | 3% | 3% | 2% | -20.3% |
| HIV Products Symtuza Revenue Share | — | — | 2% | 2% | 2% | 2% | 2% | 2% | +11.3% |
| Liver Disease Products Other Liver Disease | 2% | 2% | 2% | 3% | 3% | 4% | 2% | 2% | -41.3% |
| Other Products Am Bisome | 2% | 1% | 2% | 2% | 2% | 1% | 2% | 1% | -14.7% |
| Cell Therapy Products Tecartus | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | -23.9% |
| HIV Products Other HIV | 1% | 1% | 1% | 2% | 1% | 2% | 1% | 1% | -47.7% |
| Other Products Other | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | -30.1% |
| Veklury | 9% | 4% | 5% | 2% | 4% | 3% | 2% | <1% | -81.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- US 72%
- Europe 17% ↑ 1 pt
- Rest Of World 11% ↓ 1 pt
As GILD cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
163 filings between Oct 25, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$87.88M
79 sales by 7 insiders
99% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 15
- Award — granted as compensation
- 43
- Option exercise — converted options into shares
- 26
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| O'Day Daniel Patrick | — | $52.44M | Oct 1, 2026 |
| Mercier Johanna | — | $18.64M | Oct 15, 2026 |
| Telman Deborah H | — | $6.59M | Nov 12, 2025 |
| Dickinson Andrew D | — | $4.85M | Oct 15, 2026 |
| WELTERS ANTHONY | — | $2.68M | Aug 26, 2026 |
| Bluestone Jeffrey | — | $1.97M | Aug 20, 2026 |
| Kramer Kelly A. | — | $713.2K | Nov 28, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Dickinson Andrew D Chief Financial Officer | Sale 10b5-1 plan | 3,000 | $468.7K |
| Oct 15, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 3,000 | $468.7K |
| Oct 1, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 3,000 | $445.9K |
| Oct 1, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 12,000 | $1.77M |
| Sep 22, 2026 | Burkhart Erin SVP, Controllership | Option exercise | 2,223 | — |
| Sep 22, 2026 | Burkhart Erin SVP, Controllership | Tax withheld | 768 | $117.3K |
| Sep 15, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 800 | $115.6K |
| Sep 15, 2026 | Dickinson Andrew D Chief Financial Officer | Sale 10b5-1 plan | 3,000 | $435.9K |
| Sep 15, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 600 | $87.2K |
| Sep 15, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 1,600 | $229.9K |
| Sep 10, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Option exercise | 2,797 | — |
| Sep 10, 2026 | O'Day Daniel Patrick Chairman & CEO | Option exercise | 8,780 | — |
| Sep 10, 2026 | Berger Dietmar Chief Medical Officer | Tax withheld | 263 | $38.1K |
| Sep 10, 2026 | Dickinson Andrew D Chief Financial Officer | Tax withheld | 1,347 | $195.1K |
| Sep 10, 2026 | Cain Wettan Keeley M EVP Gen Counsel, Legal & Comp | Option exercise | 590 | — |
| Sep 10, 2026 | Berger Dietmar Chief Medical Officer | Option exercise | 533 | — |
| Sep 10, 2026 | O'Day Daniel Patrick Chairman & CEO | Tax withheld | 4,230 | $612.5K |
| Sep 10, 2026 | Cain Wettan Keeley M EVP Gen Counsel, Legal & Comp | Tax withheld | 285 | $41.3K |
| Sep 10, 2026 | Dickinson Andrew D Chief Financial Officer | Option exercise | 2,797 | — |
| Sep 10, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Tax withheld | 1,347 | $195.1K |
| Sep 1, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 1,600 | $236.0K |
| Sep 1, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 7,992 | $1.19M |
| Sep 1, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 5,408 | $807.9K |
| Aug 26, 2026 | WELTERS ANTHONY Director | Sale 10b5-1 plan | 3,118 | $462.4K |
| Aug 26, 2026 | WELTERS ANTHONY Director | Sale 10b5-1 plan | 3,402 | $504.3K |
| Aug 26, 2026 | WELTERS ANTHONY Director | Sale 10b5-1 plan | 6,880 | $1.02M |
| Aug 26, 2026 | WELTERS ANTHONY Director | Option exercise 10b5-1 plan | 10,282 | $630.8K |
| Aug 26, 2026 | WELTERS ANTHONY Director | Option exercise 10b5-1 plan | 7,718 | $468.3K |
| Aug 26, 2026 | WELTERS ANTHONY Director | Sale 10b5-1 plan | 4,600 | $684.6K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Option exercise 10b5-1 plan | 1,658 | $111.8K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Sale 10b5-1 plan | 1,816 | $263.2K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Option exercise 10b5-1 plan | 1,816 | $122.5K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Sale 10b5-1 plan | 1,165 | $167.5K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Sale 10b5-1 plan | 1,658 | $241.6K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Option exercise 10b5-1 plan | 1,165 | $78.6K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Sale 10b5-1 plan | 335 | $49.0K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Option exercise 10b5-1 plan | 335 | $20.6K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Sale 10b5-1 plan | 26 | $3.8K |
| Aug 20, 2026 | Bluestone Jeffrey Director | Option exercise 10b5-1 plan | 26 | $1.8K |
| Aug 17, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 11,470 | $1.58M |
| Aug 17, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 16,530 | $2.27M |
| Aug 17, 2026 | Dickinson Andrew D Chief Financial Officer | Sale 10b5-1 plan | 3,000 | $415.1K |
| Aug 17, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Option exercise 10b5-1 plan | 1,890 | $136.7K |
| Aug 17, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Option exercise 10b5-1 plan | 23,110 | $1.54M |
| Aug 10, 2026 | Cain Wettan Keeley M EVP Gen Counsel, Legal & Comp | Option exercise | 6,002 | — |
| Aug 10, 2026 | Cain Wettan Keeley M EVP Gen Counsel, Legal & Comp | Tax withheld | 2,908 | $386.9K |
| Aug 3, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 600 | $78.8K |
| Aug 3, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 7,700 | $1.01M |
| Aug 3, 2026 | O'Day Daniel Patrick Chairman & CEO | Sale 10b5-1 plan | 6,700 | $868.7K |
| Jul 15, 2026 | Mercier Johanna Chief Comm & Corp Aff Officer | Sale 10b5-1 plan | 3,000 | $389.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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