--- title: "Beigene Q2 Revenue Surges 30%, Net Profit Soars 151%, Annual Revenue Forecast Raised to $6.6–6.8 Billion | Earnings Review" type: "News" locale: "en" url: "https://longbridge.com/en/news/294948820.md" description: "Beigene reported strong Previous Quarterly Performance in the second quarter of 2026, with global total revenue reaching $1.7 billion, a 30% year-over-year increase. GAAP Net profit amounted to $237 million, up 151% year-over-year. Sales of its core product, Zanubrutinib, exceeded $1.2 billion, becoming the core engine of growth. Expense growth lagged behind revenue growth, highlighting economies of scale, while the company simultaneously raised its full-year performance guidance. The R&D pipeline is entering a harvest phase, with multiple key Clinical Data Presentation and deepening global expansion" datetime: "2026-08-05T11:08:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294948820.md) - [en](https://longbridge.com/en/news/294948820.md) - [zh-HK](https://longbridge.com/zh-HK/news/294948820.md) --- # Beigene Q2 Revenue Surges 30%, Net Profit Soars 151%, Annual Revenue Forecast Raised to $6.6–6.8 Billion | Earnings Review Beigene delivered a strong second-quarter performance. As core commercial products continue to ramp up volume, the company’s revenue, profits, and cash flow improved simultaneously, with economies of scale beginning to take effect. Financial data released on August 5 showed that **the company’s global total revenue in the second quarter reached $1.7 billion, a 30% year-over-year increase**; cumulative revenue for the first half of the year exceeded $3.2 billion, up 32% year-over-year. Profitability was even more impressive, with **second-quarter GAAP operating profit reaching $325 million, a 270% year-over-year increase**; GAAP net profit was $237 million, up 151% year-over-year; and non-GAAP adjusted net profit was $444 million, up 76% year-over-year. In terms of cash flow, the company’s free cash flow in the second quarter reached $435 million, nearly doubling compared to the same period last year. Free cash flow for the first half of the year amounted to $596 million, a 187% year-over-year increase. As of the end of the second quarter, the company’s cash and cash equivalents balance stood at $5.28 billion, an increase of approximately $670 million from the beginning of the year. Driven by performance growth, **Beigene simultaneously raised its full-year performance guidance. The company expects its Annual Revenue Forecast for 2026 to reach $6.6 billion to $6.8 billion, higher than previous expectations**; GAAP operating profit guidance was raised to $1 billion to $1.1 billion, and non-GAAP operating profit guidance was raised to $1.7 billion to $1.8 billion. ## Zanubrutinib Sales Exceed $1.2 Billion, Becoming Core Growth Driver **The core product Brukinsa® (Zanubrutinib) continues to contribute the primary growth momentum.** In the second quarter, global sales of Zanubrutinib reached $1.2 billion, a 31% year-over-year increase, with U.S. market sales totaling $893 million, also up 31% year-over-year. As market share continues to rise, this product has become the core engine for the company’s revenue growth and profitability improvement. Other commercialized products also maintained growth. Global sales of Baizean® (Tislelizumab) in the second quarter were $229 million, an 18% year-over-year increase; global sales of Amgen-licensed products were $157 million, a 25% year-over-year increase. Optimization of the product mix also drove improvements in profitability. **The company’s GAAP gross margin rose to 90% in the second quarter, an increase of 3 percentage points compared to the same period last year, primarily benefiting from the increased sales proportion of Zanubrutinib and improved production efficiency.** ## Revenue Growth Outpaces Expense Growth, Operating Leverage Continues to Release As commercial scale expands, Beigene’s expense growth has become more rational. **The company’s total operating expenses in the second quarter amounted to $1.205 billion, a 13% year-over-year increase, which is lower than the 30% revenue growth rate, further demonstrating economies of scale.** Among these, R&D expenses, calculated on a GAAP basis, were $612 million, a 17% year-over-year increase. This was mainly due to the advancement of late-stage clinical projects and an increase in upfront and milestone payments related to licensed-in assets, which reached $23.3 million, compared to only $500,000 in the same period last year. Selling and administrative expenses were $593 million, a 10% year-over-year increase. However, their proportion of product revenue decreased from 41% in the same period last year to 35%, indicating continuous improvement in commercialization efficiency. ## Pipeline Enters Harvest Phase, Multiple Key Data Points and Regulatory Milestones to Materialize In addition to the growth of commercialized products, **Beigene’s R&D pipeline has also seen several important developments.** Regarding Zanubrutinib, the company announced positive results from the Phase 3 MANGROVE study, showing significant progression-free survival (PFS) advantages when used in combination with rituximab for previously untreated mantle cell lymphoma (MCL) patients. Meanwhile, 78-month long-term follow-up data from the SEQUOIA study further strengthened the evidence of long-term benefits in the chronic lymphocytic leukemia (CLL) field. Sonrotoclax (BGB-11417) received accelerated approval from the FDA for adult patients with relapsed/refractory MCL who have received at least two prior lines of therapy (including BTK inhibitors), further perfecting the hematologic oncology product portfolio. Regarding Baizean, the company obtained approval in Japan for first-line treatment of gastric cancer. Data from the Phase 3 HERIZON-GEA-01 study of Baihean (Zenocutuzumab) was also published in the New England Journal of Medicine, evaluating its potential application in the first-line treatment of HER2-positive gastroesophageal adenocarcinoma. Furthermore, **the company continues to advance its layout in the solid tumor field and disclosed proof-of-concept data for three candidate products**, including the CDK4 inhibitor BGB-43395, the GPC3×4-1BB bispecific antibody BGB-B2033, and the B7-H4 ADC BG-C9074. ## Increasing Investment in U.S. Capacity, Strengthening Global Layout In terms of industrial layout, **Beigene announced an additional $300 million investment to expand its flagship manufacturing and R&D center in New Jersey, USA, adding small-molecule drug production capacity**, to further strengthen global supply chain capabilities. The company concurrently completed adjustments to its Board of Directors, newly appointing Dr. Felix J. Baker, Ms. Elizabeth F. Mooney, and Dr. Charles L. Sawyers as directors, further improving its governance structure. Additionally, the company stated that with improved profitability, 2026 performance might provide a basis for reversing part of the valuation allowance, bringing potential tax benefits. However, the specific timing and scale of this matter remain uncertain. Overall, Beigene’s second-quarter performance indicates that the company is gradually transitioning from a period of high investment to a stage of commercial realization. **The continued volume ramp-up of Zanubrutinib, improved expense efficiency, and the R&D pipeline reaching key milestones are jointly driving the company’s profitability into an upward trajectory.** ### Related Stocks - [BGNE.US](https://longbridge.com/en/quote/BGNE.US.md) - [06160.HK](https://longbridge.com/en/quote/06160.HK.md) - [688235.CN](https://longbridge.com/en/quote/688235.CN.md) - [AMGN.US](https://longbridge.com/en/quote/AMGN.US.md) ## Related News & Research - [What to expect from Sezzle’s (SEZL) Q2 earnings](https://longbridge.com/en/news/294904900.md) - [Envista Non-GAAP EPS of $0.41 beats by $0.07, revenue of $731M beats by $14.92M](https://longbridge.com/en/news/295010770.md) - [MasTec Q2 FY26 GAAP diluted EPS rises 51% to $1.65; revenue increases 23% to $4.4 billion](https://longbridge.com/en/news/294415403.md) - [Bogota Financial GAAP EPS of $0.06, revenue of $4.5M](https://longbridge.com/en/news/294524183.md) - [Black Diamond Therapeutics Q2 net loss narrows year over year](https://longbridge.com/en/news/295007104.md)