On July 30, 2026 Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, reported financial results for the quarter ended June 30, 2026.

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Second Quarter 2026 Financial Highlights

For the three-month period ended June 30, 2026, as compared to the same period of 2025:
•Reported total revenue of $335.0 million, an increase of 44%, driven by:
◦Oncology revenue of $219.1 million, an increase of 38%, and approximately 104,000 oncology tests, an increase of 63%
◦Biopharma & Data revenue of $60.9 million, an increase of 9%
◦Screening revenue of $52.9 million, and approximately 66,000 Shield screening tests, compared to $14.8 million revenue and 16,000 tests in the prior year period
•Generated non-GAAP gross margin of 67%, compared to 66% for the second quarter of 2025
Recent Operating Highlights
•Received U.S. Food and Drug Administration (FDA) approval for Guardant360 Liquid CDx, the most advanced FDA-approved liquid biopsy panel
•Presented 38 abstracts at the 2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting, highlighting the expanding clinical utility of Guardant’s portfolio
•Received FDA approval for Guardant360 CDx as a companion diagnostic for Boehringer Ingelheim’s HERNEXEOS for HER2 (ERBB2)-mutant advanced non-small cell lung cancer
•Achieved inclusion of Shield in the American Cancer Society’s updated colorectal cancer screening guidelines
•Obtained Shield coverage from UnitedHealth Group, the first major commercial insurer to provide coverage
•Received FDA approval for higher-throughput, lower-COGS Shield workflow
"Our second-quarter performance reflected broad-based momentum across the Guardant portfolio, with revenue increasing 44% year over year," said Helmy Eltoukhy, co-founder and co-CEO. "Growth was fueled by strong oncology volume, with acceleration across every product. The landmark FDA approval of Guardant360 Liquid CDx further strengthens our portfolio and positions us to drive sustained growth in the years ahead."
"Our team delivered another quarter of exceptional growth for Shield, and we are excited about several important milestones that reinforce its expanding role in colorectal cancer screening," said AmirAli Talasaz, co-founder and co-CEO. "The inclusion of the Shield blood test in the American Cancer Society’s screening guidelines, together with UnitedHealth Group’s broad coverage decision, represents powerful validation of Shield’s clinical utility and its potential to improve access to screening."

Second Quarter 2026 Financial Results

Revenue was $335.0 million for the second quarter of 2026, a 44% increase from $232.1 million for the corresponding prior year period. Oncology revenue grew 38% to $219.1 million for the second quarter of 2026, from $158.7 million for the corresponding prior year period, driven primarily by an increase in Oncology test volume, which grew 63% over the prior year period. Screening revenue grew over 250% to $52.9 million for the second quarter of 2026, from $14.8 million for the corresponding prior year period, driven primarily by an increase in Shield screening test volume, which grew to approximately 66,000 tests in the second quarter of 2026, from approximately 16,000 tests in the prior year period. Biopharma & Data revenue grew 9% to $60.9 million for the second quarter of 2026, from $56.0 million for the corresponding prior year period. Licensing and other revenue was $2.1 million for the second quarter of 2026, compared to $2.6 million for the corresponding prior year period.

Gross profit, or total revenue less cost of revenue, was $219.0 million for the second quarter of 2026, an increase of $68.1 million or 45%, from $150.9 million for the corresponding prior year period. Gross margin, or gross profit divided by total revenue, was 65% for the second quarter of 2026, as compared to 65% for the corresponding prior year period.
Non-GAAP gross profit was $223.1 million for the second quarter of 2026, an increase of $69.3 million or 45%, from $153.8 million for the corresponding prior year period. Non-GAAP gross margin was 67% for the second quarter of 2026, as compared to 66% for the corresponding prior year period.

Operating expenses were $348.1 million for the second quarter of 2026, as compared to $257.3 million for the corresponding prior year period. The year-over-year increase in operating expenses was primarily related to commercial infrastructure expansion and marketing activities to support the Shield and Oncology growth and an increase in stock-based compensation. Non-GAAP operating expenses were $288.3 million for the second quarter of 2026, as compared to $215.3 million for the corresponding prior year period. The year-over-year increase in non-GAAP operating expenses was primarily related to commercial infrastructure expansion and marketing activities to support the Shield and Oncology growth.
Net loss was $120.1 million for the second quarter of 2026, as compared to $99.9 million for the corresponding prior year period. Net loss per share was $0.90 for the second quarter of 2026, as compared to $0.80 for the corresponding prior year period.
Non-GAAP net loss was $56.2 million for the second quarter of 2026, as compared to $55.0 million for the corresponding prior year period. Non-GAAP net loss per share was $0.42 for the second quarter of 2026, as compared to $0.44 for the corresponding prior year period.
Adjusted EBITDA loss was $55.9 million for the second quarter of 2026, as compared to a $51.9 million loss for the corresponding prior year period.
Free cash flow for the second quarter of 2026 was $(69.5) million, as compared to $(65.9) million for the corresponding prior year period.
Cash, cash equivalents, and restricted cash were $1.2 billion as of June 30, 2026.
2026 Guidance
Guardant Health now expects full year 2026 revenue to be in the range of $1.34 to $1.36 billion, representing growth of 36% to 38% compared to full year 2025. This compares to the prior range of $1.30 to $1.32 billion, representing growth of 32% to 34%.
Within this revenue range:
•Oncology revenue is now expected to grow approximately 30% in 2026, compared to prior guidance of 28% to 29%. Oncology volume is now expected to grow to approximately 50% in 2026, compared to prior guidance of approximately 35%.
•Biopharma & Data revenue growth is expected to be in the low double-digit range.
•Screening revenue is now expected to be in the range of $218 to $230 million, driven by Shield volume of 270,000 to 285,000 tests. This compares to the prior guidance of $186 to $198 million revenue and 230,000 to 245,000 tests.
Guardant Health continues to expect full year 2026 non-GAAP gross margin to be in the range of 64% to 65%. Guardant Health now expects total non-GAAP operating expenses to be in the range of $1.08 to $1.10 billion, an increase compared to the prior range of $1.05 to $1.07 billion. Guardant Health now expects full-year free cash flow burn of $195 million to $205 million, compared with its previous outlook of $185 million to $195 million. The revised range reflects accelerated investment in laboratory capacity to support rapid Shield volume growth and represents an improvement from the $233 million of free cash flow burn reported for full-year 2025.
Webcast Information
Guardant Health will host a conference call to discuss the second quarter 2026 financial results after market close on Thursday, July 30, 2026 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at View Source The webcast will be archived and available for replay for at least 90 days after the event.

(Press release, Guardant Health, JUL 30, 2026, View Source [SID1234669531])

On July 30, 2026 Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule IRAK4 and FLT3 inhibitor, reported an important enrollment milestone in its TakeAim CLL study in patients with Chronic Lymphocytic Leukemia (CLL).

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Previously, Curis announced that 11 clinical sites had opened for enrollment in the TakeAim CLL study and 10 patients had been consented in that study. Today, Curis is announcing that it has achieved the previously stated goal of dosing the first five patients in the TakeAim CLL study and reaffirmed its expectation to report initial CLL data in 5-10 patients in December 2026.

"We are encouraged by our progress in the CLL study as patient enrollment continues to exceed expectations," said James Dentzer, Chief Executive Officer of Curis. "The excitement among clinicians and patients reflects the clear unmet need in CLL, where emavusertib has the potential to change the treatment landscape when combined with approved BTK inhibitors."

"BTK inhibitors have improved outcomes for patients with CLL; however, most patients still achieve only partial response and continue to have measurable residual disease (MRD) despite continuous, indefinite BTKi therapy," said Ahmed Hamdy, Chief Medical Officer of Curis. "This chronic BTKi dosing can lead to BTKi resistance, bleeding risk, cardiovascular events, and eventual CLL relapse. Combining emavusertib with an approved BTKi offers the potential to deepen responses, promote conversion to complete remission, undetectable MRD, and the potential for fixed-duration treatment. While we are still in the early days of the study, and the number of patients is small, we are greatly encouraged that the combination of emavusertib and zanubrutinib appears to be well tolerated and may be demonstrating early evidence of deepening responses in CLL patients."

In CLL, disease is driven by NF-kB dysregulation, which is in turn driven by two biologic pathways: BCR and TLR1. The goal of combining emavusertib with a BTK inhibitor (BTKi) in the TakeAim CLL Study is to enable a dual blockade of NF-kB, by inhibiting both the BCR and TLR pathways. BTK inhibitors (BTKi) block the BCR pathway; emavusertib blocks the TLR pathway.

BTKi is the current standard of care in CLL. In the registrational study for the BTKi zanubrutinib, 93% of patients were able to achieve an objective response, but only 7% achieved complete response2. More recent clinical studies have demonstrated that adding emavusertib to a BTKi regimen, blocking both the TLR and BCR pathways, can enable patients with NHL to achieve deeper responses, including complete responses or undetectable minimal residual disease (uMRD).

About the TakeAim CLL Study

The TakeAim CLL Study is an open label phase 2 study of emavusertib in combination with zanubrutinib in patients with CLL (CA-4948-203, NCT07271667). Participants in the study must be in a partial response (PR) or partial response with lymphocytosis (PR-L), with measurable residual disease (MRD+) as determined by the clonoSEQ assay and actively taking zanubrutinib for at least 12 months.

(Press release, Curis, JUL 30, 2026, View Source [SID1234669530])

On July 30, 2026 Cerus Corporation (Nasdaq: CERS) reported financial results for the second quarter ended June 30, 2026, and provided a business update.

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"This quarter we made significant progress in expanding patient access to safer blood components around the globe," said Vivek Jayaraman, Cerus’ president and chief executive officer. "I’m particularly pleased with the performance of our INTERCEPT Fibrinogen Complex (IFC) franchise in the U.S. The value proposition for blood centers, hospitals and clinicians is resonating and leading to earlier patient access to fibrinogen across the country. We view IFC as a compelling growth driver for Cerus."

Additional highlights include:

Second-quarter 2026 total revenue comprised of (in millions, except percentages):
Three Months Ended

Six Months Ended

June 30,

Change

June 30,

Change

2026

2025

$

%

2026

2025

$

%

Product Revenue

$

57.4

$

52.4

$

5.0

10

%

$

111.1

$

95.7

$

15.4

16

%

Government Contract Revenue

5.9

7.7

(1.8

)

-24

%

12.1

13.3

(1.2

)

-9

%

Total Revenue

$

63.3

$

60.1

$

3.2

5

%

$

123.2

$

109.0

$

14.2

13

%

Numbers may not sum due to rounding. Percentages calculated from unrounded figures.

Demand for IFC continued to increase, with second quarter volumes – including kits and finished therapeutic doses (measured in FC15* equivalent units) – up approximately 20% compared to the prior year period. Second quarter U.S. IFC sales totaled $6.7 million, up from $5.6 million in the prior year period.
Submitted PMA for the INTERCEPT Blood System for Platelets with INT200 Illuminator, the Company’s next generation LED-based illumination device, to the FDA as planned. Given review timelines, a regulatory decision is anticipated in early 2027.
Completed debt refinancing, including a $30 million reduction in the outstanding term loan funded with $20 million of cash on hand and $10 million drawn under the new, lower-cost revolving credit facility.
Expanded the Company’s ongoing collaboration with the Biomedical Advanced Research and Development Authority, or BARDA, to further advance the development of the INTERCEPT Red Blood Cell system, increasing the total potential value of the 2024 contract by $21.9 million from $248.6 million to $270.5 million. The BARDA contract is funded in whole or in part with federal funds from the Department of Health and Human Services’ Administration for Strategic Preparedness and Response, Biomedical Advanced Research and Development Authority under Contract No. 75A50124C00046.
Cash, cash equivalents, and short-term investments were $56.3 million at June 30, 2026.
Revenue

Product revenue for the second quarter of 2026 was $57.4 million, compared to $52.4 million for the prior year period, representing year-over-year growth of 10%. Second quarter growth was driven by increases across all product categories.

Government contract revenue for the second quarter of 2026 was $5.9 million, compared to $7.7 million during the prior year period. The decrease reflects the completion of the Company’s FDA contract in 2025, the wind-down of the BARDA 2016 contract, and timing of expenses related to the BARDA 2024 contract.

Product Gross Profit & Margin

Product gross profit for the second quarter of 2026 was $29.5 million, compared to $29.0 million, increasing by 2% over the prior year period. Product gross margin for the second quarter was 51.4% compared to 55.2% in the same period last year. The year-over-year decrease in gross margin was largely driven by a weaker U.S. dollar relative to the Euro and higher product costs driven by inflationary pressures.

Operating Expenses

Total operating expenses for the second quarter of 2026 were $37.3 million, compared to $40.1 million for the same period of the prior year, reflecting a year-over-year decrease of 7%.

R&D expenses for the second quarter of 2026 were $14.4 million, compared to $18.9 million in the second quarter of 2025. The primary contributors to lower R&D expenses were decreased development costs on the INT200, with the U.S. PMA submission completed, as well as lower development costs tied to government-funded projects, as reflected in the government contract revenue.

SG&A expenses totaled $22.9 million for the second quarter of 2026, compared to $21.2 million for the second quarter of 2025. The year-over-year increase in SG&A expenses was due to higher costs across various functions.

Net Loss Attributable to Cerus Corporation

Net loss attributable to Cerus Corporation for the second quarter of 2026 was $2.9 million, or $0.01 per basic and diluted share, compared to a net loss attributable to Cerus Corporation of $5.7 million, of $0.03 per basic and diluted share, for the same period of the prior year. Net loss attributable to Cerus Corporation for the first half of 2026 was $4.6 million, compared to a net loss attributable to Cerus Corporation of $13.4 million for the first half of 2025.

Non-GAAP Adjusted EBITDA

Non-GAAP adjusted EBITDA for the second quarter of 2026 was positive $3.0 million, compared to non-GAAP adjusted EBITDA of positive $0.9 million for the same period of the prior year. Non-GAAP adjusted EBITDA for the first half of 2026 was a positive $7.0 million compared to non-GAAP adjusted EBITDA of positive $1.1 for the first half of 2025.

Balance Sheet and Cash Flows

At June 30, 2026, the Company had cash, cash equivalents, and short-term investments of $56.3 million, compared to $82.9 million at December 31, 2025.

As of June 30, 2026, the Company had $35.0 million outstanding on its term loan and $30.1 million drawn on its revolving credit facility. The Company’s revolving line of credit allows for an additional $14.9 million as of June 30, 2026, which is dependent on eligible assets supporting the borrowing base.

For the second quarter of 2026, cash used in operations totaled $2.7 million, compared to $2.4 million used during the same period of the prior year. Cash use in operations in the second quarter of 2026 was tied to an increase in working capital, namely inventory in support of the expected growth.

Narrowing And Raising Low End of 2026 Product Revenue Guidance

The Company now expects full-year 2026 product revenue to be in the range of $229 million to $231 million, reflecting growth of 11% to 12% from 2025. Included in this range is increased full-year 2026 IFC revenue guidance of $23 million to $25 million. Previously, the Company’s 2026 product revenue guidance range was $227 million to $231 million, including IFC revenue guidance between $22 million to $24 million.

Quarterly Conference Call

The Company will host a conference call at 4:30 P.M. ET this afternoon, during which management will discuss the Company’s financial results and provide a general business overview and outlook. To listen to the live webcast, please visit the Investor Relations page of the Cerus website at View Source

A replay will be available on Cerus’ website and will be available approximately three hours after the call through August 20, 2026.

*FC15 equivalent to a therapeutic dose of a cryoAHF pool.

(Press release, Cerus, JUL 30, 2026, View Source [SID1234669529])

On July 30, 2026 Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, reported its financial results for the second quarter ended June 30, 2026.

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"The Castle Biosciences team delivered another outstanding quarter," said Derek Maetzold, president and chief executive officer of Castle Biosciences. "We believe our strong growth through the first half of 2026 demonstrates the clinical value our tests bring to patient care and the dedication of our talented team to deliver results so that our clinician customers and patients can act with confidence.

"Given this momentum, we are raising our 2026 total revenue guidance to $365-375 million, up from our previous range of $345-355 million. We also now expect to achieve positive Adjusted EBITDA for the third quarter, the fourth quarter and the full year 2026.

"We are also encouraged by an independent study supporting the clinical impact of AdvanceAD-Tx in guiding systemic treatment selection. At the Revolutionizing Atopic Dermatitis meeting in June, data from a multi-center study showed only 54.3% of patients receiving baseline systemic therapy were initially on pathway-concordant treatment; however, following testing with our AdvanceAD-Tx test, 97.8% of patients were initiated on molecularly concordant systemic therapy.

I want to thank the entire Castle team for their focus, commitment and disciplined execution, which continue to advance our mission of improving health through innovative tests that guide patient care."

Second Quarter Ended Jun. 30, 2026, Financial and Operational Highlights
•Revenues were $103.5 million, compared to $86.2 million in the second quarter of 2025. Affecting second quarter 2026 revenue was the change in DecisionDx-SCC Medicare coverage effective April 24, 2025, the re-focus of our commercial efforts, as well as the discontinuation of IDgenetix in May 2025.

Core revenue drivers:
•Second quarter 2026 total test reports for our core revenue drivers (DecisionDx-Melanoma, TissueCypher) increased 32% over the second quarter of 2025:
◦DecisionDx-Melanoma test reports delivered in the quarter were 10,280, compared to 9,981 in the second quarter of 2025.
◦TissueCypher Barrett’s Esophagus test reports delivered in the quarter were 14,988, compared to 9,170 in the second quarter of 2025.

Additional tests:
◦DecisionDx-SCC test reports delivered in the quarter were 4,011, compared to 4,762 in the second quarter of 2025.
◦MyPath Melanoma test reports delivered in the quarter were 1,061, compared to 1,166 in the second quarter of 2025.
◦DecisionDx-UM test reports delivered in the quarter were 482, compared to 468 in the second quarter of 2025.

•Gross margin was 75%, and Adjusted Gross Margin was 76%, compared to 77% and 80%, respectively, for the same periods in 2025.
•Net loss, which includes non-cash stock-based compensation expense of $11.6 million, was $2.1 million, compared to net income of $4.5 million for the same period in 2025.
•Net loss per share and Adjusted Net Loss per Share, Basic and Diluted, was $0.07, compared to net income per share and Adjusted Net Income per Share, Basic and Diluted, of $0.16 and $0.15, respectively, for the same period in 2025.
•Adjusted EBITDA was $12.4 million, compared to $10.4 million for the same period in 2025.
•Net cash provided by operations was $15.2 million, compared to net cash provided by operations of $20.8 million for the same period in 2025.

Six Months Ended Jun. 30, 2026, Financial and Operational Highlights
•Revenues were $187.2 million, compared to $174.2 million for the six months ended June 30, 2025. Affecting comparison to 2025 includes the change in DecisionDx-SCC Medicare coverage effective April 24, 2025, the re-focus of our commercial efforts, as well as the discontinuation of IDgenetix in May 2025.

Core revenue drivers:
•First half 2026 total test reports for our core revenue drivers (DecisionDx-Melanoma, TissueCypher) increased 34% over the six months ended June 30, 2025.
◦DecisionDx-Melanoma test reports delivered in the six months ended June 30, 2026, were 20,301, compared to 18,602 for the same period in 2025.
◦TissueCypher Barrett’s Esophagus test reports delivered in the six months ended June 30, 2026, were 26,733, compared to 16,602 for the same period in 2025.
Additional tests:
◦DecisionDx-SCC test reports delivered in the six months ended June 30, 2026, were 7,713, compared to 9,137 for the same period in 2025.
◦MyPath Melanoma test reports delivered in the six months ended June 30, 2026, were 2,034, compared to 2,092 for the same period in 2025.
◦DecisionDx-UM test reports delivered in the six months ended June 30, 2026, were 974, compared to 938 for the same period in 2025.

•Gross margin for the six months ended June 30, 2026, was 74%, and Adjusted Gross Margin was 77%, compared to 63% and 81%, respectively, for the same period in 2025.
•Net loss, which includes non-cash stock-based compensation expense of $21.4 million, was $16.6 million, compared to net loss of $21.3 million for the same period in 2025.
•Net loss per share and Adjusted Net Loss per Share, Basic and Diluted, was $0.55, compared to net loss per share and Adjusted Net Loss per Share, Basic and Diluted, of $0.74 and $0.04, respectively, for the same period in 2025.
•Adjusted EBITDA was $7.3 million, compared to $23.4 million for the same period in 2025.

•Net cash used in operations was $6.9 million, compared to $14.8 million net cash provided by operations for the same period in 2025.
Cash, Cash Equivalents and Marketable Investment Securities
As of Jun. 30, 2026, the Company’s cash, cash equivalents and marketable investment securities totaled $266.8 million.
2026 Outlook
Castle Biosciences is raising its guidance for anticipated total revenue in 2026. The Company now anticipates generating between $365-375 million in total revenue in 2026, compared to the previously provided guidance of between $345-355 million. Further, the Company expects to achieve positive Adjusted EBITDA for the third quarter, the fourth quarter and the full year 2026.

Second Quarter and Recent Accomplishments and Highlights

Dermatology – Skin Cancer
•The Company announced the publication of a prospective, multicenter study in Dermatology and Therapy demonstrating that DecisionDx-Melanoma’s integrated sentinel lymph node biopsy test result (i31-SLNB) outperforms the Melanoma Institute Australia (MIA) nomogram in identifying patients at low and high risk of SLN positivity, supporting more informed SLNB decision-making for patients with cutaneous melanoma (CM). This is the second multicenter study showing that the i31-SLNB result outperforms the MIA nomogram in assessing SLN positivity risk. See the Company’s news release from June 25, 2026, for more information.

Dermatology – Atopic Dermatitis
•The Company announced that its AdvanceAD-Tx test has received assay approval from the New York State Department of Health (NYSDOH). With this approval, Castle has New York State approval for all tests within its dermatology and ophthalmology portfolios, its TissueCypher test within gastroenterology and its clinical laboratories in Phoenix and Pittsburgh. See the Company’s news release from July 14, 2026, for more information.
•The Company announced that its AdvanceAD-Tx test was selected as the winner of the "Genomics Innovation Award" in the 10th annual MedTech Breakthrough Awards program, which recognizes companies driving meaningful progress and improving patient care across the global health and medical technology industry. AdvanceAD-Tx is Castle’s clinically validated gene expression profile (GEP) test designed to guide systemic treatment decision making in patients 12 and older with moderate-to-severe atopic dermatitis (AD). This marks the fifth MedTech Breakthrough Award that Castle has earned for its innovative testing solutions. See the Company’s news release from May 12, 2026, for more information.

Pipeline Initiatives
•In June 2026, the first patient was enrolled in DETECT-AD, a multicenter prospective clinical study being conducted through Castle’s collaboration with SciBase, a global medical technology company, specializing in early detection and prevention in dermatology. The study will investigate the ability of Electrical Impedance Spectroscopy (EIS) to predict the onset of flares in patients with AD, with the goal of enabling proactive interventions and improving patient quality of life.

Corporate
•The Company announced that Frank Stokes, its chief financial officer, has been named a 2026 CFO Awards honoree by the Houston Business Journal. Stokes is among 22 chief financial officers from across the Greater Houston area recognized for their financial leadership and contributions to their organizations’ success. See the Company’s news release from June 23, 2026, for more information.

Conference Call and Webcast Details
Castle Biosciences will hold a conference call on Thursday, July 30, 2026, at 4:30 p.m. Eastern time to discuss its second quarter 2026 results and provide a corporate update.

A live webcast of the conference call can be accessed here: View Source or via the webcast link on the Investor Relations page of the Company’s website, View Source Please access the webcast at least 10 minutes before the conference call start time. An archive of the webcast will be available on the Company’s website until August 20, 2026.
There will be a brief Question & Answer session following management commentary.

(Press release, Castle Biosciences, JUL 30, 2026, View Source [SID1234669528])

On July 30, 2026 Bristol Myers Squibb (NYSE: BMY) reported results for the second quarter of 2026.

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"The Growth Portfolio continues to deliver, achieving 15% growth in the quarter, and represents an expanding share of our overall business," said Christopher Boerner, Ph.D., board chair and chief executive officer, Bristol Myers Squibb. "We are building from a position of strength and progressing a differentiated pipeline designed to generate long-term value. As a result of our consistent execution and continued momentum, we are raising our 2026 full-year outlook."

Second Quarter Results
$ in millions, except per share amounts 2026 2025 Change
Change Excl. FX**
Total Revenues $12,973 $12,269 6 % 5 %
Earnings/(Loss) Per Share – GAAP* 1.62 0.64 153 % N/A
Earnings/(Loss) Per Share – Non-GAAP* 2.04 1.46 40 % N/A
Acquired IPRD Charges and Licensing Income Net Impact on Earnings/(Loss) Per Share 0.01 (0.57) N/A N/A

*GAAP and Non-GAAP earnings/(loss) per share include the net impact of Acquired IPRD charges and licensing income.
**See "Use of Non-GAAP Financial Information".

1

SECOND QUARTER RESULTS*
•Growth Portfolio revenues of $7.6 billion increased 15%, or 14% Ex-FX. Revenue growth was primarily driven by Opdivo Qvantig, Reblozyl, Camzyos, Breyanzi and Opdualag.
•Legacy Portfolio revenues of $5.4 billion decreased 4%, or 5% Ex-FX. Demand increased for Eliquis, which was more than offset by expected continued generic impacts across the remainder of the Legacy Portfolio.
•Total revenues of $13.0 billion increased 6%, or 5% Ex-FX.
◦U.S. revenues of $9.0 billion increased 6%.
◦International revenues of $4.0 billion increased 6%, or 5% Ex-FX.
*All comparisons are made versus the same period in 2025 unless otherwise stated.

SECOND QUARTER PRODUCT REVENUE HIGHLIGHTS(e)

($ amounts in millions) Quarter Ended June 30, 2026
% Change from Quarter Ended June 30, 2025
% Change from Quarter Ended June 30, 2025 Ex-FX**

U.S.
Int’l
WW(d)
U.S.
Int’l
WW(d)
Int’l
WW(d)
Growth Portfolio
Opdivo $ 1,417 $ 1,068 $ 2,485 (6) % 1 % (3) % (1) % (4) %
Opdivo Qvantig 206 55 261 >200% >200% >200% >200% >200%
Orencia 801 233 1,034 13 % (8) % 7 % (8) % 7 %
Yervoy 481 288 769 7 % 4 % 6 % 2 % 5 %
Reblozyl 593 142 735 31 % 24 % 29 % 24 % 29 %
Breyanzi 354 131 484 39 % 48 % 41 % 47 % 41 %
Opdualag 294 55 349 17 % 72 % 23 % 65 % 22 %
Camzyos 310 105 416 45 % 129 % 60 % 124 % 59 %
Zeposia 116 53 169 11 % 17 % 12 % 14 % 12 %
Sotyktu 51 36 87 19 % 30 % 23 % 27 % 23 %
Krazati 47 8 55 1 % >200% 14 % >200% 14 %
Cobenfy 60 3 63 73 % >200% 81 % >200% 81 %
Other Growth Products(a)
244 409 653 (1) % 32 % 17 % 32 % 17 %
Total Growth Portfolio
4,974 2,585 7,560 14 % 15 % 15 % 13 % 14 %
Legacy Portfolio
Eliquis 3,357 1,124 4,481 27 % 9 % 22 % 7 % 21 %
Revlimid 352 72 425 (52) % (32) % (49) % (30) % (49) %
Pomalyst/Imnovid 131 73 204 (78) % (41) % (71) % (38) % (71) %
Sprycel 52 35 88 (23) % (32) % (27) % (30) % (26) %
Abraxane 12 43 55 (62) % (40) % (47) % (40) % (47) %
Other Legacy Products(b)
112 58 170 12 % (53) % (24) % (53) % (24) %
Total Legacy Portfolio 4,017 1,405 5,422 (4) % (7) % (4) % (7) % (5) %
Other Revenue(c)
— (9) (9) N/A N/A N/A N/A N/A
Total Revenues $ 8,991 $ 3,982 $ 12,973 6 % 6 % 6 % 5 % 5 %

** See "Use of Non-GAAP Financial Information".
(a) Includes Abecma, Augtyro, Onureg, Inrebic, Nulojix, Empliciti and royalty revenues, including royalties received from Merck on Winrevair.
(b) Includes other mature brands.
(c) Includes revenue hedging activities in 2026.
(d) Worldwide (WW) includes U.S. and International (Int’l).
(e) For the above table and all subsequent tables, certain totals may not sum due to rounding. Percentages have been calculated using unrounded amounts.
2

SECOND QUARTER COST & EXPENSES
The table below presents selected line-item information.

GAAP Non-GAAP**
Three months ended June 30, Three months ended June 30,
($ amounts in millions)
2026
2025
Change
2026
2025
Change
Cost of products sold
$ 3,726 $ 3,372 11% $ 3,711 $ 3,356 11%
Gross margin
71.3 % 72.5 % (120) bps 71.4 % 72.6 % (120) bps
Selling, general and administrative
1,826 1,713 7% 1,826 1,691 8%
Research and development
2,959 2,580 15% 2,316 2,263 2%
Acquired IPRD(a)
— 1,508 (100)% — 1,508 (100)%
Amortization of acquired intangible assets
437 830 (47)% — — N/A
Other (income)/expense, net
(61) 494 NM 126 (108) NM
Effective tax rate
18.8 % 25.9 % (710) bps 16.5 % 16.1 % 40 bps

** See "Use of Non-GAAP Financial Information" and refer to the Specified Items schedule below for further detail.
NM Not meaningful.
(a) Non-GAAP Acquired IPRD does not include adjustments to GAAP Acquired IPRD.

•Gross margin decreased from 72.5% to 71.3% on a GAAP basis, and from 72.6% to 71.4% on a non-GAAP basis, primarily reflecting a change in product mix.
•Selling, general and administrative expenses of $1.8 billion increased 7% on a GAAP basis and 8% on a non-GAAP basis, primarily driven by investments in new product launches.
•Research and development expenses of $3.0 billion increased 15% on a GAAP basis, primarily driven by the purchase of a priority review voucher and higher IPRD impairment charges in 2026. Non-GAAP research and development expenses of $2.3 billion increased 2%.
•Amortization of acquired intangible assets of $437 million decreased 47% on a GAAP basis, primarily driven by lower amortization expense related to Pomalyst.
•Other (income)/expense, net of $(61) million and $126 million on a GAAP and non-GAAP basis, respectively, reflects the expiry of royalty income on diabetes products at the end of 2025.
•Effective tax rate decreased from 25.9% to 18.8% on a GAAP basis and increased from 16.1% to 16.5% on a non-GAAP basis, primarily driven by jurisdictional earnings mix.
•Net income attributable to Bristol Myers Squibb of $3.3 billion, or $1.62 per share, increased from $1.3 billion, or $0.64 per share, on a GAAP basis. On a non-GAAP basis, net income attributable to Bristol Myers Squibb of $4.2 billion, or $2.04 per share, increased from $3.0 billion, or $1.46 per share. GAAP and non-GAAP EPS include the impacts of Acquired IPRD charges and licensing income.

PRODUCT AND PIPELINE UPDATES
Entries organized by date and inclusive of second quarter and recent updates.
Asset(s)
Date Announced
Milestone
Reblozyl (luspatercept)
July 30
The U.S. Food and Drug Administration (FDA) accepted the supplemental Biologics License Application for Reblozyl with concomitant janus kinase inhibitor therapy in adult patients with myelofibrosis-associated anemia receiving red blood cell transfusions. The acceptance was supported by results from the Phase 3 INDEPENDENCE study. The FDA granted a Prescription Drug User Fee Act (PDUFA) date of March 11, 2027.
mezigdomide July 13
The FDA accepted a New Drug Application for mezigdomide in combination with carfilzomib and dexamethasone (MeziKd) in patients with relapsed or refractory multiple myeloma (RRMM), granting a PDUFA date of May 13, 2027. The filing was based on the positive results from the Phase 3 SUCCESSOR-2 trial.

Mezigdomide is the second BMS CELMoD to be granted a PDUFA date this year for an RRMM indication, joining iberdomide, which has a PDUFA date of August 17, 2026.
izalontamab brengitecan
(iza-bren) June 2
Announced with SystImmune that SystImmune’s parent company, Sichuan Biokin Pharmaceutical Co., Ltd., reported positive results from prespecified interim analyses of two Phase 3 studies evaluating iza-bren. In the studies, iza-bren achieved statistically significant and clinically meaningful improvements in overall survival and progression-free survival (PFS) in heavily pretreated, unresectable, locally advanced or metastatic triple-negative breast cancer and recurrent or metastatic esophageal squamous cell carcinoma.
Camzyos (mavacamten)
June 1
The FDA accepted for priority review a supplemental New Drug Application (sNDA) for Camzyos as a potential treatment for adolescents ages 12 to <18 years with symptomatic obstructive hypertrophic cardiomyopathy. The sNDA submission was based on data from the Phase 3 SCOUT-HCM trial.
Opdivo (nivolumab)
June 1
The European Commission (EC) approved Opdivo in combination with doxorubicin, vinblastine and dacarbazine for the treatment of adult and adolescent patients 12 years of age and older with previously untreated Stage III or IV classical Hodgkin Lymphoma. The EC approval is based on data from the Phase 3 SWOG 1826 (Study CA2098UT).
pumitamig May 30
Interim Phase 2 data, announced with BioNTech SE, from the global Phase 2/3 ROSETTA Lung-02 trial evaluating pumitamig plus chemotherapy in patients with previously untreated advanced non-small cell lung cancer (NSCLC) demonstrated robust anti-tumor activity with high response rates observed in both non-squamous and squamous NSCLC and at each PD-L1 expression level.
mezigdomide May 29
Announced positive results from the Phase 3 SUCCESSOR-2 trial of MeziKd versus carfilzomib and dexamethasone alone (Kd) in patients with RRMM. MeziKd demonstrated a clinically meaningful and statistically significant improvement in PFS, representing a 52% reduction in the risk of disease progression or death compared with Kd.
Sotyktu (deucravacitinib)
May 8
The EC approved Sotyktu, alone or in combination with methotrexate, for the treatment of psoriatic arthritis (PsA) in adults who have had an inadequate response or who have been intolerant to a prior disease-modifying antirheumatic therapy. The EC approval is based on positive results from the pivotal POETYK PsA-1 and POETYK PsA-2 Phase 3 clinical trials.

Our Strategy
At Bristol Myers Squibb, our goal is to build a company that is financially strong and delivers industry-leading, sustainable growth into the 2030s and beyond.
As we advance our multi-year strategy to position the company for long-term growth, we are guided by the following priorities:
•Focusing R&D on high-impact, transformational medicines to treat life-threatening diseases;
•Embedding rigorous operational execution across the organization to build momentum in our Growth Portfolio comprised primarily of medicines early in their lifecycles; and
•Maintaining disciplined capital allocation to drive sustainable cash flow generation, balance sheet strength and long-term shareholder returns.

Business Development
The company recently entered into multiple transactions that strengthen its pipeline and operational capabilities.

In July 2026, the company announced an expansion of its existing collaboration with NVIDIA to deploy NVIDIA’s newest AI infrastructure, Vera Rubin NVL72, for running predictive models at scale and training large AI models on BMS’s own data. Through this latest agreement, BMS scientists have the potential to understand disease biology more deeply, design and test candidate molecules faster, and gain deeper insights from clinical outcomes sooner. We expect this to ensure the company can continue pursuing the right targets and advancing stronger candidates, ultimately working toward smarter, more targeted clinical trial design and earlier, better-informed decisions about which programs to move forward.

In May 2026, the company announced a strategic agreement with Anthropic to deploy Claude across Bristol Myers Squibb’s research, clinical development, manufacturing, commercial and corporate functions. Claude will serve as the shared intelligence platform between enterprise functions, enabling the company to unlock its data and accelerate innovation.

Also in May 2026, the company entered into global strategic collaboration and licensing agreements with Hengrui Pharma to advance a portfolio of 13 early-stage programs in oncology, hematology and immunology. The collaboration furthers Bristol Myers Squibb’s efforts to accelerate early-stage clinical development and make informed, responsible decisions that contribute to the company’s growth potential.

Financial Guidance
Bristol Myers Squibb is increasing its full-year, non-GAAP revenue guidance from a range of approximately $46.0 billion to $47.5 billion to a range of approximately $49.0 billion to $50.0 billion. This update primarily reflects broad-based and continuing momentum across the portfolio.
Full-year operating expenses in 2026 are now expected to be approximately $16.5 billion, due to increased investment behind key pipeline programs and new product launches.
As a result of these guidance updates, non-GAAP EPS is increasing to an anticipated range of $6.75 – $7.00.
2026 Non-GAAP1,2 Line-Item Guidance
April
(Prior) July
(Updated)
Total Revenues
(Reported & Ex-FX)
~$46.0 – $47.5 billion
~$49.0 – $50.0 billion
Gross Margin % ~69% – 70% No change
Operating Expenses3
~$16.3 billion ~$16.5 billion
Other income/(expense) ~($700 million) No change
Effective tax rate
~18%
No change
Diluted EPS
$6.05 – $6.35
$6.75 – $7.00

1 See "Use of Non-GAAP Financial Information."
2 April was calculated based on mid-April 2026 foreign exchange rates, and July was calculated based on mid-July exchange rates.
3 Operating Expenses = SG&A and R&D.

The company continues to expect total Worldwide Eliquis revenues to increase in 2026 when compared to 2025, and is raising its projected range as shown in the table below.

2026 Eliquis Revenue Guidance
April
(Prior) July
(Updated)
2026 WW Revenue Growth* 10% – 15% 20% – 25%

* Compared to 2025 Worldwide Eliquis revenues.

The 2026 financial guidance provided excludes the impact of any potential future strategic acquisitions, divestitures, specified items that have not yet been identified and quantified, and the impact of Acquired IPRD charges and licensing income incurred after June 30, 2026. To the extent we have quantified the impact of significant R&D charges or other income resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights, we may update this information from time to time on our website, www.bms.com, in the "Investors" section. Non-GAAP guidance assumes exchange rates as of the date noted. The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release.

A reconciliation of forward-looking non-GAAP measures, including non-GAAP EPS, to the most directly comparable GAAP measures is not provided because comparable GAAP measures for such measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be necessary for such reconciliation. Namely, we are not, without unreasonable effort, able to reliably predict the impact of accelerated depreciation and impairment charges, legal and other settlements, gains and losses from equity investments and other adjustments. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. These items are uncertain, depend on various factors and may have a material impact on our future GAAP results. See "Cautionary Statement Regarding Forward-Looking Statements" and "Use of Non-GAAP Financial Information."

Conference Call Information
Bristol Myers Squibb will host a conference call today, Thursday, July 30, 2026, at 8:15 a.m. ET, during which company executives will review financial results with the investment community.
Investors and the general public are invited to listen to a live webcast of the call at View Source." target="_blank" title="View Source." rel="nofollow">View Source Materials related to the call will be available at View Source prior to the start of the conference call.
A replay of the webcast will be available at View Source approximately three hours after the conference call concludes.

(Press release, Bristol-Myers Squibb, JUL 30, 2026, View Source [SID1234669527])