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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.R&D is the clear driver of Incyte’s operating‑expense volatility and secular increase: after a large mid‑2024 R&D spike, spend has remained materially higher than pre‑2024 levels as the company finances multiple late‑stage programs and upcoming launches. SG&A growth is modest, producing improving operating leverage with revenue, but sustained elevated R&D (plus past contingent‑consideration swings) will keep GAAP profitability and cash burn pressured near term. Ending collaboration losses reduces noise, so pipeline execution and safety monitoring are now the biggest operational risks for investors.
Date | Research and Development | Selling, General, and Administrative | Loss on Change in Fair Value of Acquisition-Related Contingent Consideration | Loss Under Collaboration Agreements |
|---|---|---|---|---|
Jun 30, 2026 | $516.95M | $351.74M | $2.50M | $0.00 |
Mar 31, 2026 | $515.90M | $328.09M | -$168.00K | $0.00 |
Dec 31, 2025 | $611.37M | $390.41M | -$28.26M | $0.00 |
Sep 30, 2025 | $506.58M | $329.08M | -$12.20M | $0.00 |
Jun 30, 2025 | $494.92M | $331.02M | $22.76M | $0.00 |
Mar 31, 2025 | $437.28M | $325.69M | $11.57M | $0.00 |
Dec 31, 2024 | $466.03M | $326.71M | -$4.04M | $0.00 |
Sep 30, 2024 | $573.17M | $309.21M | $23.41M | $0.00 |
Jun 30, 2024 | $1.14B | $305.98M | $893.00K | $0.00 |
Mar 31, 2024 | $429.26M | $300.26M | -$456.00K | -$1.02M |