Gilead Sciences, Inc
gilead.comWhat Do They Do?
Sells medicines for HIV, viral hepatitis and cancer through healthcare providers, wholesalers and distributors.
10-K for FY2025, filed Feb 24, 2026Gilead Sciences, Inc. (including its consolidated subsidiaries, referred to as “Gilead,” the “company,” “we,” “our” or “us”) is a…View ↗
We have U.S. and international commercial sales operations, with marketing subsidiaries in more than 35 countries. Our products are…View ↗
We sell and distribute most of our products in the U.S. exclusively through the wholesale channel. Historically, approximately 90% of our…View ↗
How Do They Make Money?
Customers generally pay for medicines after shipment or delivery, though some sales are tied to resale by the buyer. Gilead also earns royalties when partners sell licensed products, receives collaboration payments, and gets a revenue share from Janssen's sales of Symtuza.
10-K for FY2025, filed Feb 24, 2026We recognize revenue from product sales when control of the product transfers to the customer, which is generally upon shipment or…View ↗
Royalty revenue on licensed intellectual property is recognized in the period in which the obligation is satisfied and the corresponding…View ↗
We also generate revenues from other activities, including royalties for outbound licenses of our intellectual property, sales of certain…View ↗
(1) Represents our revenue from cobicistat (“C”), emtricitabine (“FTC”) and tenofovir alafenamide (“TAF”) in Symtuza (darunavir/C/FTC/TAF)…View ↗
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10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by product or service ↗
$29.4B
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10-K for FY2025, filed Feb 24, 2026
$29.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Biktarvy
Sold outright
10-K for FY2025, filed Feb 24, 2026 |
49%
FY2022: 38%
|
Biktarvy, FY2025
$14.3B Sources
|
Sold outright |
|
Descovy
Sold outright
|
9.4%
FY2022: 6.9%
|
Descovy, FY2025
$2.8B Sources
|
Sold outright |
|
Genvoya
Sold outright
|
5.1%
FY2022: 8.8%
|
Genvoya, FY2025
$1.5B Sources
|
Sold outright |
|
Odefsey
Sold outright
|
4.0%
FY2022: 5.4%
|
Odefsey, FY2025
$1.2B Sources
|
Sold outright |
|
Symtuza - Revenue share
|
1.7%
FY2022: 1.9%
|
Symtuza - Revenue share, FY2025
$495M Sources
|
|
|
Other HIV
Sold outright
|
1.7%
FY2022: 1.9%
|
Other HIV, FY2025
$500M Sources
|
Sold outright |
|
Tecartus
Sold outright
|
1.2%
FY2022: 1.1%
|
Tecartus, FY2025
$344M Sources
|
Sold outright |
|
Yescarta
Sold outright
|
5.1%
FY2022: 4.3%
|
Yescarta, FY2025
$1.5B Sources
|
Sold outright |
|
Trodelvy
Sold outright
|
4.7%
FY2022: 2.5%
|
Trodelvy, FY2025
$1.4B Sources
|
Sold outright |
|
Sofosbuvir/Velpatasvir
Sold outright
|
4.3%
FY2022: 5.6%
|
Sofosbuvir/Velpatasvir, FY2025
$1.3B Sources
|
Sold outright |
|
Vemlidy
Sold outright
|
3.6%
FY2022: 3.1%
|
Vemlidy, FY2025
$1.1B Sources
|
Sold outright |
|
Other Liver Disease
Sold outright
|
3.0%
FY2022: 1.6%
|
Other Liver Disease, FY2025
$874M Sources
|
Sold outright |
|
Veklury
|
3.1%
FY2022: 14%
|
Veklury, FY2025
$911M Sources
|
|
|
AmBisome
|
1.7%
FY2022: 1.8%
|
AmBisome, FY2025
$509M Sources
|
|
|
Other
|
1.0%
FY2022: 1.7%
|
Other, FY2025
$290M Sources
|
|
|
Royalty, contract and other revenues
|
1.8%
FY2022: 1.1%
|
Royalty, contract and other revenues, FY2025
$527M Sources
|
Who Are Their Customers?
Most U.S. product sales go through wholesalers; outside the U.S., Gilead sells through its commercial teams, distributors or corporate partners. Its teams promote products directly to doctors, hospitals, clinics and other healthcare providers.
10-K for FY2025, filed Feb 24, 2026
Do Revenues Turn Into Profits?
Yes. It kept 29 cents of every revenue dollar as net income in FY2025 and turned 32 cents into free cash flow.
10-K for FY2025, filed Feb 24, 2026
$10BView ↗
10-K for FY2025, filed Feb 24, 2026
$8.5BView ↗
10-K for FY2025, filed Feb 24, 2026
$9.5BView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$10.5BView ↗
- ▼ Now a loss
- vs $2B in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Aug 4, 2026
Raised 2026 base-business revenue expectations
Second-quarter results cited base-business revenue growth of 10% year over year as the reason.
Sources
8-K, filed Aug 4, 2026
“Gilead delivered a very strong second quarter, with 10% year-over-year revenue growth in our base business driven by our HIV portfolio…View ↗
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Apr 28, 2026
Completed its acquisition of Arcellx
Arcellx became a wholly owned subsidiary, giving Gilead full control of investigational anito-cel.
Sources
8-K, filed Apr 28, 2026
The acquisition builds on Kite, a Gilead Company, and Arcellx’s successful collaboration and provides Gilead with full control of…View ↗
Flat. Revenue was $29.4B in FY2025, about the same as the $27.3B of FY2021.
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