INCYIncyte

Health care · Research Services · Nasdaq

Incyte is a global biopharmaceutical company engaged in the discovery, development and commercialization of proprietary therapeutics. 10-K, Item 1

Employees: 2,844
Headquarters: Wilmington, DE
CEO: William Meury
Next results: around Feb 9, 2027

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The biggest changes in the 10-K filed 2026-02-10, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Net income

+3845.0% Big change FY to 2025-12-31 vs 2024-12-31

“Our effective tax rate for the year ended December 31, 2025 was higher than the U.S. statutory rate primarily due to state income taxes and an increase in our valuation allowance against certain U.S. deferred tax assets.”
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Cash from operations

+321.5% Big change FY to 2025-12-31 vs 2024-12-31

“The increase in cash provided by operating activities from 2024 to 2025 was primarily attributable to the changes in net income as a result of the contract dispute settlement during the second quarter of 2025 and the Escient acquisition during the second quarter of 2024, and changes in working capital.”
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Operating margin

1.4% → 29.5% (+28.0 pts) Big change FY to 2025-12-31 vs 2024-12-31

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Revenue

+21.2% Big change FY to 2025-12-31 vs 2024-12-31

“The increase in JAKAFI product revenues from 2024 to 2025 was primarily driven by an increase in paid demand across all indications.”
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“The increase in OPZELURA net product revenues from 2024 to 2025 was primarily due to increased patient demand and refills in the U.S. in both atopic dermatitis and vitiligo.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

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