BeOne Medicines Ltd. (BeOne) reported unaudited second-quarter 2026 revenue of 1.71 billion, up 30% year on year, driven by a 31% expansion of the flagship BTK inhibitor BRUKINSA to 1.20 billion and continued uptake of TEVIMBRA (229.00 million, +18%) and the Amgen-licensed portfolio (157.00 million, +25%).
\n\nGross profit reached 1.53 billion, reflecting a GAAP gross margin of 90% versus 87% a year ago, aided by a richer BRUKINSA mix and manufacturing efficiencies. GAAP income from operations climbed to 325.05 million (+270%), while adjusted operating income rose 83% to 503.03 million. GAAP net income more than doubled to 237.01 million; adjusted net income advanced 76% to 444.50 million. Free cash flow nearly doubled to 435.34 million.
\n\nOperating expenses grew at a slower pace than revenue: GAAP R&D outlays increased 17% to 612.28 million as early programs advanced, and GAAP SG&A rose 10% to 593.21 million, bringing total GAAP operating expenses to 1.21 billion (+13%). On an adjusted basis, combined R&D and SG&A were 1.03 billion (+17%), equal to 61% of total revenue compared with 67% in the prior-year period.
\n\nCash, cash equivalents, and restricted cash stood at 5.28 billion on 30 June 2026, up 671.03 million from year-end 2025. Total assets reached 9.18 billion, supported by a 1.06 billion accounts-receivable balance, while total liabilities were 4.00 billion, including 1.07 billion of debt and a 906.31 million royalty-sale liability.
\n\nOn the strength of first-half results, BeOne raised full-year 2026 guidance: revenue is now expected at 6.60–6.80 billion (prior 6.30–6.50 billion); GAAP operating income at 1.00–1.10 billion (prior 0.75–0.85 billion); and non-GAAP operating income at 1.70–1.80 billion (prior 1.45–1.55 billion). Management continues to forecast a high-80% gross-margin range and GAAP operating expenses of 4.80–5.00 billion.
\n\nClinical and regulatory momentum remained robust. BRUKINSA delivered positive Phase 3 MANGROVE data in first-line mantle cell lymphoma and long-term SEQUOIA results in CLL. FDA accelerated approval was secured for BEQALZI in relapsed or refractory MCL, while TEVIMBRA obtained first-line gastric-cancer approval in Japan. Multiple late-stage trial initiations and potential submissions—spanning tacabrutideg, BG-C9074, and BGB-B2033—are slated for the second half.
\n\nStrategically, BeOne announced a 300.00 million expansion of its New Jersey manufacturing campus and added three directors—Felix J. Baker, Elizabeth F. Mooney, and Charles L. Sawyers—to its board.