Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Regeneron Pharmaceuticals Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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Regeneron Pharmaceuticals Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2025-06-30), 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).
- Revenue Trends
- Overall revenues demonstrated variability with several peaks and troughs over the observed periods. Net product sales exhibited substantial fluctuations, with significant increases particularly in mid-2021, followed by periods of moderation and renewed growth toward late 2024. Collaboration revenue showed a generally increasing trend with notable peaks occurring in early 2022 and 2024, indicating strong collaboration-based income streams. Other revenue remained comparatively lower with spikes mostly towards the end of 2022 and mid-2023, suggesting intermittent non-core revenue sources contributing occasionally. These revenue streams combined reflect a strong dependency on collaborations alongside product sales, with a generally upward trajectory in total revenues from 2020 through 2024.
- Cost Structure Analysis
- Cost of goods sold (COGS) and cost of collaboration and contract manufacturing costs indicated rising absolute amounts over the quarters, particularly during periods of increased sales activity such as mid-2021 and late 2022. The combined cost of revenues revealed substantial volatility, correlating closely with the fluctuations seen in revenues but rising significantly in periods with higher sales, notably in the latter part of 2021. This suggests cost management challenges during high volume sales periods. Despite the rising costs, gross profit trends remained robust, with consistent gross margins implied by the proportionate increases in revenues and costs.
- Profitability Indicators
- Gross profit peaked notably in mid-2021 and maintained strong levels through 2022 and 2023, although some decline was seen in late 2023 and early 2024, aligned with revenue patterns. Operating income followed a similar trend, with very strong performance particularly in mid-2021, but exhibited variability afterwards, showing a decline in some quarters which indicates operational challenges or increased operating expenses. Net income trends mirrored those of operating income, with peaks in mid-2021 and ongoing variability but generally maintaining profitability throughout the periods. The income tax expense fluctuated, impacting the net income especially in quarterly periods with lower pre-tax income.
- Research and Development (R&D) and SG&A Expenses
- R&D expenses consistently rose over time, with clear upward trends notable from late 2020 through 2024, indicative of sustained investment in innovation and pipeline development. The presence of acquired in-process research and development costs in certain quarters points to additional sporadic expenses related to acquisitions or project integrations. Selling, general, and administrative expenses (SG&A) also increased gradually with some quarters showing sharper rises, particularly from late 2021 onward. The rising R&D and SG&A costs contributed to pressures on operating income despite revenue growth.
- Other Income and Expense
- Other operating income/expense exhibited minor fluctuations but generally remained stable with small positive contributions. Other income (expense), net displayed high volatility, with some quarters showing significant positive impacts (e.g., mid-2021 and parts of 2024) while others registered notable negative values. Interest expense remained relatively stable and modest throughout the periods, indicating controlled debt-servicing costs.
- Summary of Financial Health and Trends
- The company demonstrated strong top-line growth supported by expanded collaborations and robust product sales, albeit with some quarter-to-quarter revenue variability. Cost control became increasingly important as cost of revenues rose alongside expanded operations. Continued increases in R&D and SG&A expenses indicate a strategic focus on innovation and market development, which has placed some pressure on operating margins but has not prevented profitable outcomes. Volatility in other income/expense points to occasional one-time or non-operating factors affecting net income. Overall, the patterns suggest a company in a growth and investment phase, balancing increased expenditures with strong revenue generation to maintain profitability over the monitored periods.