Gilead Sciences Q1 2026 Financial Results were officially released, showcasing a robust start to the fiscal year with total revenues climbing to $6.96 billion, a 4.4% increase compared to the same period in 2025. The performance was anchored by a 10% year-over-year surge in the company’s HIV franchise, which remains the cornerstone of its commercial success.
Deep Dive into Gilead Sciences Q1 2026 Financial Results
The first quarter saw Gilead surpassing analyst expectations on both the top and bottom lines. Non-GAAP diluted earnings per share (EPS) reached $2.03, beating the Zacks Consensus Estimate of $1.89. This growth was primarily fueled by the massive momentum of the HIV prevention market and the expansion of the oncology portfolio.
Internal reports from the Gilead Investor Relations portal highlight that the company’s “base business”, excluding the COVID-19 treatment Veklury, grew by 8% year-over-year. This indicates a healthy transition away from pandemic-related revenue toward long-term therapeutic growth.
HIV Portfolio and the Yeztugo Blockbuster Launch
A standout feature of the Gilead Sciences Q1 2026 Financial Results was the performance of Yeztugo (formerly referred to as Yes2Go), the company’s twice-yearly HIV prevention injection. Since its recent launch, Yeztugo generated $166 million in Q1 sales, representing a 72% sequential surge.
“The U.S. PrEP franchise accelerated significantly this quarter,” stated Johanna Mercier, Chief Commercial Officer. With roughly 95% of U.S. patients now having access to Yeztugo, Gilead has raised its full-year guidance for the product to approximately $1 billion. Meanwhile, Biktarvy continues to dominate the treatment landscape, contributing $3.36 billion to the quarterly total.
Oncology and Cell Therapy Performance
The oncology division also showed significant strength. Trodelvy sales jumped 37% to $402 million, benefiting from its Category 1 recommendation for triple-negative breast cancer. While the cell therapy segment saw a slight dip of 12% to $407 million due to competitive pressures, the company is preparing for the launch of anito-cel following the completion of the Arcellx acquisition.
Strategic Acquisitions and Full Year 2026 Guidance
Despite the revenue beat, Gilead updated its GAAP EPS guidance to a projected loss of $1.05 to $0.65 for the full year. This revision is attributed to $11.5 billion in upfront IPR&D charges and financing costs related to the acquisitions of Arcellx, Ouro Medicines, and Tubulis. However, the company raised its total product sales guidance to a range of $30.0 billion to $30.4 billion, reflecting confidence in its core commercial execution.
Investors can view the full Gilead Science therapeutic pipeline to understand how these acquisitions will bolster the company’s long-term growth strategy through 2030.
Key Financial Metrics (Q1 2026 vs. Q1 2025)
| Metric | Q1 2026 (Reported) | Q1 2025 (Prior) | Year-over-Year Change |
| Total Revenues | $6,957 Million | $6,665 Million | +4.4% |
| GAAP Net Income | $2,022 Million | $1,316 Million | +53.6% |
| Non-GAAP Net Income | $2,540 Million | $2,280 Million | +11.4% |
| GAAP Diluted EPS | $1.61 | $1.04 | +54.8% |
| Non-GAAP Diluted EPS | $2.03 | $1.81 | +12.2% |
| Gross Margin (Non-GAAP) | 87.1% | 85.2% | +190 bps |
Product Sales Breakdown by Therapeutic Area
| Product / Category | Q1 2026 Sales (M) | YoY Change (%) | Key Drivers |
| Total HIV Portfolio | $5,032 | +10% | Biktarvy & Yeztugo Momentum |
| Biktarvy | $3,360 | +7% | Market Share Leadership |
| Yeztugo (PrEP) | $166 | New | Rapid launch adoption |
| Trodelvy (Oncology) | $402 | +37% | Expansion in TNBC |
| Veklury (COVID-19) | $144 | -52% | Lower hospitalization rates |
| Cell Therapy | $407 | -12% | Competitive market dynamics |
| Liver Disease | $620 | -6% | Pricing and volume offsets |
Full Year 2026 Financial Guidance (Updated May 7, 2026)
| Guidance Parameter | Revised 2026 Range | Previous 2026 Range |
| Total Product Sales | $30.0B – $30.4B | $29.6B – $30.0B |
| Base Business Sales | $29.4B – $29.8B | $29.0B – $29.4B |
| GAAP Diluted EPS | ($1.05) – ($0.65) | $8.45 – $8.85 (pre-acq) |
| Non-GAAP Diluted EPS | $8.45 – $8.85 | $8.45 – $8.85 |
| Effective Tax Rate | 140% – 190% | ~19% |
