NASDAQ$INCY
Incyte Corp. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Incyte reported strong Q4 2023 results, achieving a milestone of $1 billion in total quarterly revenues, driven by Jakafi and Opzelura growth.
Incyte reported a strong Q4 2023, marked by total revenues of $1.013 billion. The company's performance was driven by the continued growth of Jakafi and the successful launch of Opzelura. Incyte is focused on advancing its high potential pipeline, with plans for over 10 new launches by 2030.
- Total GAAP revenues reached $1.013 billion, a 9% increase year-over-year.
- Jakafi net product revenues were $695.127 million, up 7% compared to Q4 2022.
- Opzelura net product revenues reached $109.243 million, a 78% increase compared to Q4 2022.
- GAAP net income was $201.079 million, or $0.89 per diluted share.
Headline financials
Revenue & EPS history
Incyte · Revenue · Quarterly
$1.01B
Revenue by segment
Incyte · $775M total across 5 segments · Q3 2023
- Jakafi$636M+2.7%82.1%
- Opzelura$91.8M+140.8%11.9%
- Iclusig$27.7M+6.9%3.6%
- Pemazyre$18.9M-19.1%2.4%
- Zynyz$98—0.0%
Forward guidance
Incyte provided its financial guidance for 2024, which includes revenues and expenses related to the acquisition of tafasitamab and excludes potential new product launches or future strategic transactions.
Tailwinds
- Jakafi net product revenues are expected to be in the range of $2,690 - $2,750 million.
- Other Hematology/Oncology net product revenues are projected to be $325 - $360 million.
- GAAP Cost of product revenues is estimated to be 7 – 8% of net product revenues.
- Non-GAAP Cost of product revenues is expected to be 6 – 7% of net product revenues.
- Incyte anticipates initiating a Phase 3 study for BETi in the second half of 2024 and achieving clinical proof-of-concept for zilurgisertib by mid-2024.
Headwinds
- GAAP Research and development expenses are projected to be $1,720 - $1,760 million.
- Non-GAAP Research and development expenses are expected to be $1,580 - $1,615 million.
- GAAP Selling, general and administrative expenses are projected to be $1,210 - $1,240 million.
- Non-GAAP Selling, general and administrative expenses are expected to be $1,115 - $1,140 million.
- Guidance excludes revenue from any potential new product launches or the impact of any potential future strategic transactions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.3%
Avg return
Earnings day
-1.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+18.2%
Q1 2012
Best reaction
-25.8%
Q2 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.2% | +1.2% | +0.8% | |
| Q4 2025 | -8.2% | -7.3% | -15.6% | |
| Q3 2025 | -1.6% | +0.4% | +13.5% | |
| Q1 2025 | +1.5% | +5.1% | +11.0% | |
| Q4 2024 | -7.9% | -5.0% | -8.6% | |
| Q3 2024 | +12.5% | +15.9% | +14.9% | |
| Q2 2024 | -5.1% | -6.0% | -3.9% | |
| Q1 2024 | +0.7% | +2.3% | +9.0% | |
| Q4 2023 | +0.1% | +0.2% | +1.2% | |
| Q3 2023 | +4.2% | +5.2% | +4.2% | |
| Q2 2023 | +3.1% | -0.1% | +1.3% | |
| Q1 2023 | -9.7% | -11.7% | -18.4% | |
| Q4 2022 | -4.6% | -6.0% | -13.6% | |
| Q3 2022 | +3.8% | +4.0% | +8.5% | |
| Q2 2022 | -6.3% | -6.8% | -7.8% | |
| Q1 2022 | +6.1% | -1.1% | -1.9% | |
| Q4 2021 | -6.9% | -9.0% | +0.2% | |
| Q3 2021 | -3.7% | -2.1% | -3.9% | |
| Q2 2021 | -1.4% | -2.8% | -1.6% | |
| Q1 2021 | -5.0% | -3.3% | -3.1% | |
| Q4 2020 | -9.0% | -9.9% | -15.1% | |
| Q3 2020 | -8.8% | -8.9% | -8.8% | |
| Q2 2020 | -4.1% | -4.8% | -10.0% | |
| Q1 2020 | -4.9% | -5.0% | -7.1% | |
| Q4 2019 | +3.5% | +4.6% | -2.6% | |
| Q3 2019 | +4.8% | +4.7% | +17.9% | |
| Q2 2019 | +5.8% | +4.0% | +2.7% | |
| Q1 2019 | +6.1% | +11.7% | +5.9% | |
| Q4 2018 | +3.8% | +3.7% | +4.6% | |
| Q3 2018 | +2.4% | +6.5% | +2.3% | |
| Q2 2018 | -4.4% | -8.1% | +7.4% | |
| Q1 2018 | -1.4% | +0.3% | +10.2% | |
| Q4 2017 | -2.4% | -3.0% | +2.1% | |
| Q3 2017 | -5.5% | -8.0% | -13.3% | |
| Q2 2017 | -5.7% | -3.4% | +3.1% | |
| Q1 2017 | -0.6% | -2.8% | +6.7% | |
| Q4 2016 | -0.2% | -0.5% | +22.5% | |
| Q3 2016 | +0.2% | +0.7% | +14.9% | |
| Q2 2016 | -5.2% | -7.9% | -7.4% | |
| Q1 2016 | +4.0% | — | — | |
| Q4 2015 | -5.5% | — | — | |
| Q3 2015 | -2.9% | — | — | |
| Q2 2015 | +6.7% | — | — | |
| Q1 2015 | -3.3% | — | — | |
| Q4 2014 | -0.0% | — | — | |
| Q3 2014 | +15.9% | — | — | |
| Q2 2014 | -4.9% | — | — | |
| Q1 2014 | +6.3% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q3 2013 | +4.7% | — | — | |
| Q2 2013 | +14.7% | — | — | |
| Q1 2013 | +3.3% | — | — | |
| Q4 2012 | +18.0% | — | — | |
| Q3 2012 | +6.8% | — | — | |
| Q2 2012 | -25.8% | — | — | |
| Q1 2012 | +18.2% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q3 2010 | +0.9% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q4 2010 | +6.0% | — | — | |
| Q1 2010 | +6.0% | — | — | |
| Q1 2011 | +6.0% | — | — |
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