BeOne Medicines AG Announced Q4 2025 Earnings on February 26, 2026, Reporting "Product revenue reached $1.5 billion in the fourth quarter".

BeOne Medicines AG reported fourth quarter 2025 product revenue of $1.5 billion. For the full year 2025, BRUKINSA global revenues were $3.9 billion. Gross margin for the full year improved to 87 percent. Full year GAAP net income reached $287 million with GAAP diluted earnings per ADS of $2.53. Non-GAAP net income came in at $918 million for full year 2025, which translates to diluted non-GAAP earnings per ADS of $8.09. The company also generated free cash flow of $380 million in Q4 and over $940 million for the full year 2025.

Management highlighted BRUKINSA as the leading global BTK inhibitor, noting its long-term progression-free survival and overall survival data. The company achieved its first global approvals in China for sonrotoclax in relapsed and refractory mantle cell lymphoma and chronic lymphocytic leukemia. Furthermore, BeOne Medicines initiated three Phase III studies for its BTK degrader in 2025. The company strategy focuses on deepening leadership in chronic lymphocytic leukemia, expanding across hematological malignancies, establishing a solid tumor franchise, and advancing immunology assets toward registration.

For 2026, BeOne Medicines projects revenue to be between $6.2 billion to $6.4 billion. GAAP gross margin percentage is expected to be in the high 80 percent range. GAAP operating expenses are anticipated to be between $4.7 billion and $4.9 billion. GAAP operating income is expected to be between $700 million and $800 million, while non-GAAP operating income is expected to be between $1.4 billion and $1.5 billion. The company anticipates modest initial contributions from its launches of sonrotoclax and zanidatamab in 2026.