Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

$24.99

Income Statement
Quarterly Data

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Gilead Sciences Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Product sales
Cost of goods sold
Gross profit on product sales
Royalty, contract and other revenues
Research and development expenses
Acquired in-process research and development expenses
In-process research and development impairments
Selling, general and administrative expenses
Operating income (loss)
Interest expense
Other income (expense), net
Income (loss) before income taxes
Income tax (expense) benefit
Net income (loss)
Net loss attributable to noncontrolling interest
Net income (loss) attributable to Gilead

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Product Sales
Product sales exhibit notable fluctuations over the periods. Initial sales show growth from 5,467 million USD in March 2020 to a peak of 7,328 million USD by December 2020. This is followed by a decline and stabilizing pattern around 6,300 to 7,070 million USD through 2023, with a resurgence towards the end of 2024, reaching 7,515 million USD in September 2024 before a slight decline in March 2025 to 6,613 million USD.
Cost of Goods Sold (COGS)
COGS generally trends upward in absolute terms, with spikes at December 2021 and December 2023, reaching -2,627 million USD and -2,090 million USD respectively, indicating periods of increased production or cost pressures. The range remains between approximately -969 million USD and -2,627 million USD, showing variability that may impact gross margins in certain quarters.
Gross Profit on Product Sales
Gross profit correlates with product sales trends but shows some volatility tied to COGS changes. It peaks at 6,133 million USD in September 2021 before dipping to a low of 4,533 million USD in December 2021. Stable recovery thereafter is observed with fluctuating values mostly between approximately 4,900 million USD and 5,950 million USD.
Royalty, Contract and Other Revenues
This revenue category remains relatively minor compared to product sales and shows no consistent trend. Values oscillate with peaks such as 122 million USD in June 2022 and troughs like 30 million USD in March 2024, indicating variability in these income sources.
Research and Development (R&D) Expenses
R&D expenses show considerable fluctuations with some quarters experiencing sharp increases, e.g., reaching -2,027 million USD in December 2020 and -2,020 million USD in December 2022. Other quarters remain near or below -1,400 million USD, indicating variability in investment or project activity levels over time.
Acquired In-Process Research and Development Expenses
Significant irregularities are present here with high outlays in certain quarters, notably -4,524 million USD in June 2020 and -4,131 million USD in March 2024, indicating major one-time acquisition-related expenses. Some quarters record expenses close to zero or positive figures, suggesting either write-backs or minimal acquisition activity.
In-Process Research and Development Impairments
This category only appears sporadically, with substantial impairments reported such as -2,700 million USD in December 2021 and -2,430 million USD in March 2024. These represent significant non-recurring charges affecting operational profitability in those quarters.
Selling, General and Administrative (SG&A) Expenses
SG&A expenses fluctuate between approximately -1,050 million USD and -1,900 million USD, with some spikes in December quarters (e.g., -1,906 million USD in December 2024), suggesting seasonal or project-related cost increases. A moderate upward trend in expense levels is discernible over the examined period.
Operating Income (Loss)
Operating income shows high variability, including a negative substantial loss of -2,983 million USD in June 2020 and a deep loss of -4,322 million USD in March 2024, likely linked to large acquisition or impairment charges. Positive peaks occur, such as 3,842 million USD in September 2021, reflecting profitable quarters amidst volatility.
Interest Expense
Interest expenses remain relatively stable around the -230 to -260 million USD range, showing little variation through the periods, indicating consistent financing costs.
Other Income (Expense), Net
This item fluctuates considerably without a clear trend, displaying significant positive and negative swings, for example, -940 million USD in September 2020 and 293 million USD in December 2023, highlighting volatile miscellaneous income or expense components.
Income Before Income Taxes
Income before income taxes mirrors the volatility seen in operating income, with losses such as -2,973 million USD in June 2020 and -4,486 million USD in March 2024, contrasted by strong positive results up to 3,438 million USD in September 2021. This indicates sensitivity to non-operational expenses and impairments.
Income Tax (Expense) Benefit
Income tax figures fluctuate widely, with tax expenses generally recorded but with some quarters showing positive benefits (e.g., 316 million USD in March 2023). The variability in tax expense reflects the inconsistent profitability and possibly tax adjustments related to one-time items.
Net Income (Loss)
Net income is highly variable, reflecting the trends in operating and other incomes with substantial losses such as -3,346 million USD in June 2020 and -4,170 million USD in March 2024. Positive net income quarters often follow these losses, indicating recovery phases. Overall, the net income pattern underscores episodic impacts from major expenses or charges, modulated by returns to profitability.
Net Income Attributable to Gilead
Net income attributable to the company aligns closely with overall net income figures, confirming that most gains and losses impact the parent company directly without major minority interests influencing results.