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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.74B | $2.48B | $2.28B | $2.53B | $2.65B | $2.43B | $2.45B | $2.47B |
| Cost of revenue | $776.90M | $661.00M | $495.50M | $674.40M | $605.00M | $629.30M | $583.50M | $638.70M |
| Gross profit | $1.96B | $1.82B | $1.78B | $1.86B | $2.04B | $1.80B | $1.87B | $1.83B |
| Gross margin | 71.6% | 73.3% | 78.3% | 73.4% | 77.1% | 74.1% | 76.2% | 74.1% |
| Research and development | $693.60M | $573.00M | $731.80M | $438.20M | $445.60M | $634.80M | $532.30M | $542.70M |
| Selling, general and administrative | $709.70M | $607.30M | $682.50M | $594.80M | $583.80M | $572.50M | $680.00M | $588.40M |
| Operating expenses | $1.81B | $1.42B | $1.69B | $1.27B | $1.25B | $1.42B | $1.43B | $1.36B |
| Operating income | $150.90M | $397.40M | $98.40M | $591.40M | $792.70M | $379.60M | $441.40M | $465.80M |
| Operating margin | 5.5% | 16.0% | 4.3% | 23.3% | 30.0% | 15.6% | 18.0% | 18.9% |
| EBITDA | $554.90M | $609.70M | $329.70M | $806.60M | $999.50M | $598.10M | $606.90M | $767.80M |
| Interest income | $25.30M | $0 | $0 | — | $32.30M | $0 | $0 | — |
| Interest expense | −$82.30M | $0 | $0 | — | −$72.60M | $0 | $0 | — |
| Income before taxes | $132.40M | $377.70M | −$56.00M | $557.30M | $744.00M | $311.20M | $291.50M | $451.00M |
| Income taxes | $34.90M | $58.20M | −$7.10M | $90.80M | $109.20M | $70.70M | $24.80M | $62.50M |
| Net income | $97.50M | $319.50M | −$48.90M | $466.50M | $634.80M | $240.50M | $266.70M | $388.50M |
| Net margin | 3.6% | 12.9% | -2.1% | 18.4% | 24.0% | 9.9% | 10.9% | 15.8% |
| EPS, basic | $0.66 | $2.17 | −$0.33 | $3.18 | $4.33 | $1.65 | $1.83 | $2.67 |
| EPS, diluted | $0.66 | $2.15 | −$0.33 | $3.17 | $4.33 | $1.64 | $1.83 | $2.66 |
| Diluted shares | 148.70M | 148.40M | 148.00M | 147.10M | 146.70M | 146.60M | 145.70M | 146.10M |
Figures describe Biogen shares, not any token. As of Jul 29, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.