Loading financials from SEC filings…
Biotechnology · Healthcare · Fiscal year ends Dec 31
Vir Biotechnology reported revenue of $69M in the fiscal year ended Dec 2025, down 7.6% from the year before. Operating income was −$479M, an operating margin of −699.2%, and net income was −$438M. Operating cash flow of −$392M less capital expenditure of $5M left free cash flow of −$397M.
Ranks among the 31 biotechnology companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,095 | 1,616 | 86.2 | 74.2 | 68.6 |
| Cost of revenue | 65.9 | 146 | 2.8 | 0.8 | 0.0 |
| Gross profit | 1,030 | 1,469 | 83.4 | 73.4 | 68.5 |
| Research & development | 448 | 475 | 580 | 506 | 456 |
| Selling, general & admin | 161 | 162 | 174 | 119 | 92.1 |
| Operating income | 421 | 833 | −684 | −587 | −479 |
| Pre-tax income | 550 | 754 | −628 | −523 | −438 |
| Income tax | 21.2 | 238 | −13.1 | −1.1 | 0.2 |
| Net income | 529 | 516 | −615 | −522 | −438 |
| Diluted EPS | 3.96 | 3.83 | −4.59 | −3.83 | −3.16 |
| Diluted shares | 133 | 135 | 134 | 136 | 139 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 348 | 849 | 242 | 223 | 232 |
| Receivables | 773 | 0.0 | – | – | – |
| Current assets | 1,563 | 2,519 | 1,588 | 1,042 | 514 |
| Net PP&E | 42.8 | 106 | 96.0 | 63.2 | 55.6 |
| Goodwill | 16.9 | 16.9 | 16.9 | 16.9 | 16.9 |
| Total assets | 1,954 | 2,802 | 1,919 | 1,399 | 1,003 |
| Payables | 6.5 | 6.4 | 6.3 | 5.1 | 9.8 |
| Deferred revenue | 98.2 | 15.5 | 64.9 | 12.6 | 0.0 |
| Current liabilities | 341 | 511 | 175 | 120 | 92.8 |
| Total liabilities | 522 | 724 | 329 | 248 | 238 |
| Shareholders' equity | 1,432 | 2,078 | 1,590 | 1,150 | 765 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −47.6 | 1,663 | −779 | −446 | −392 |
| Capital expenditure | 21.8 | 68.0 | 21.6 | 7.3 | 4.8 |
| Free cash flow | −69.4 | 1,595 | −800 | −454 | −397 |
| Depreciation & amortisation | 5.3 | 6.8 | 19.5 | 14.6 | 11.7 |
| Stock-based compensation | 83.8 | 102 | 111 | 78.5 | 49.1 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 47.5% | −94.7% | −13.9% | −7.6% |
| Operating income growth (YoY) | – | 98.0% | −182.1% | – | – |
| EPS growth (YoY) | – | −3.3% | −219.8% | – | – |
| Gross margin | 94.0% | 90.9% | 96.8% | 98.9% | 100.0% |
| Operating margin | 38.4% | 51.6% | −794.0% | −791.3% | −699.2% |
| Net margin | 48.3% | 31.9% | −713.7% | −703.4% | −638.9% |
| Return on equityBlank when equity is negative | 36.9% | 24.8% | −38.7% | −45.4% | −57.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 26.1% | 36.4% | −39.2% | −45.9% | −52.7% |
| Free cash flow margin | −6.3% | 98.7% | −928.7% | −611.4% | −578.5% |
| Cash conversion (CFO ÷ net income) | −0.09x | 3.22x | 1.27x | 0.86x | 0.89x |
| Receivable days | 258 | 0 | – | – | – |
| Payable days | 36 | 16 | 836 | 2195 | 137619 |
| Current ratio | 4.58x | 4.93x | 9.05x | 8.71x | 5.54x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.