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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 | $16.61B | $16.29B | $16.40B | $17.28B | $15.81B | $15.53B | $15.62B | $16.66B |
| Cost of revenue | $4.40B | $4.20B | $5.55B | $3.86B | $3.56B | $3.42B | $3.83B | $4.08B |
| Gross profit | $12.21B | $12.09B | $10.85B | $13.42B | $12.25B | $12.11B | $11.80B | $12.58B |
| Gross margin | 73.5% | 74.2% | 66.2% | 77.7% | 77.5% | 78.0% | 75.5% | 75.5% |
| Research and development | $9.74B | $12.59B | $3.89B | $4.23B | $4.05B | $3.62B | $4.58B | $5.86B |
| Selling, general and administrative | $2.90B | $2.70B | $2.90B | $2.63B | $2.65B | $2.55B | $2.86B | $2.73B |
| Operating expenses | $12.80B | $15.49B | $7.00B | $6.91B | $7.26B | $6.24B | $7.50B | $8.65B |
| Operating income | −$584.00M | −$3.40B | $3.85B | $6.51B | $4.99B | $5.87B | $4.30B | $3.93B |
| Operating margin | -3.5% | -20.9% | 23.5% | 37.7% | 31.6% | 37.8% | 27.5% | 23.6% |
| EBITDA | $1.15B | −$1.69B | $6.53B | $7.71B | $6.67B | $7.04B | $5.55B | $5.17B |
| Interest income | $35.00M | $0 | $0 | — | $69.00M | $0 | $0 | — |
| Interest expense | −$525.00M | $0 | $0 | — | −$305.00M | $0 | $0 | — |
| Income before taxes | −$683.00M | −$3.53B | $3.42B | $6.75B | $5.00B | $5.90B | $4.17B | $4.09B |
| Income taxes | $654.00M | $709.00M | $458.00M | $958.00M | $571.00M | $818.00M | $426.00M | $929.00M |
| Net income | −$1.34B | −$4.24B | $2.96B | $5.79B | $4.43B | $5.09B | $3.74B | $3.16B |
| Net margin | -8.1% | -26.1% | 18.1% | 33.5% | 28.0% | 32.7% | 24.0% | 19.0% |
| EPS, basic | −$0.54 | −$1.72 | $1.19 | $2.32 | $1.76 | $2.01 | $1.48 | $1.25 |
| EPS, diluted | −$0.54 | −$1.72 | $1.19 | $2.32 | $1.76 | $2.01 | $1.48 | $1.24 |
| Diluted shares | 2.47B | 2.47B | 2.49B | 2.50B | 2.51B | 2.53B | 2.54B | 2.54B |
Figures describe Merck shares, not any token. As of Aug 7, 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.