Vir Biotechnology (VIR) financial statements
Vir Biotechnology reported revenue of $69M in fiscal 2025, up 49.8% a year over 8 years.
Net income was -$438M and the operating margin -699.2%, against -3009.5% in 2017.
Free cash flow was -$397M.
The diluted share count rose 6336% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Vir Biotechnology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3M | $11M | $8M | $76M | $1.1B | $1.6B | $86M | $74M | $69M |
| Cost of revenue | — | — | $0 | $0 | $66M | $146M | $3M | $845,000 | $26,000 |
| Gross profit | — | — | $8M | $76M | $1.0B | $1.5B | $83M | $73M | $69M |
| Research and development | $63M | $100M | $148M | $302M | $448M | $475M | $580M | $506M | $456M |
| Selling, general and admin | $22M | $29M | $38M | $71M | $161M | $162M | $174M | $119M | $92M |
| Operating income | -$81M | -$119M | -$178M | -$297M | $421M | $833M | -$684M | -$587M | -$479M |
| Pre-tax income | -$81M | -$116M | -$175M | -$299M | $550M | $754M | -$628M | -$523M | -$438M |
| Income tax | -$11M | -$480,000 | $154,000 | $54,000 | $21M | $238M | -$13M | -$1M | $217,000 |
| Net income | -$70M | -$116M | -$175M | -$299M | $529M | $516M | -$615M | -$522M | -$438M |
| EPS (diluted) | -$32.45 | -$15.12 | -$5.76 | -$2.51 | $3.96 | $3.83 | -$4.59 | -$3.83 | -$3.16 |
| Diluted shares | 2M | 8M | 30M | 119M | 133M | 135M | 134M | 136M | 139M |
| Gross margin | — | — | 100.0% | 100.0% | 94.0% | 90.9% | 96.8% | 98.9% | 100.0% |
| Operating margin | -3009.5% | -1112.6% | -2199.7% | -388.9% | 38.4% | 51.6% | -794.0% | -791.3% | -699.2% |
| Net margin | -2579.5% | -1086.3% | -2159.0% | -391.1% | 48.3% | 31.9% | -713.7% | -703.4% | -638.9% |
Balance sheet
Fiscal years, from Vir Biotechnology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $188M | $98M | $383M | $737M | $910M | $2.4B | $1.6B | $901M | $461M |
| Receivables | — | — | — | $0 | $773M | $0 | — | — | — |
| Total current assets | — | $118M | $403M | $772M | $1.6B | $2.5B | $1.6B | $1.0B | $514M |
| Property, plant and equipment | — | $12M | $16M | $18M | $43M | $106M | $96M | $63M | $56M |
| Goodwill | — | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M |
| Total assets | — | $192M | $512M | $919M | $2.0B | $2.8B | $1.9B | $1.4B | $1.0B |
| Total current liabilities | — | $40M | $59M | $99M | $341M | $511M | $175M | $120M | $93M |
| Total liabilities | — | $62M | $88M | $202M | $522M | $724M | $329M | $248M | $238M |
| Shareholders' equity | -$69M | -$179M | $424M | $717M | $1.4B | $2.1B | $1.6B | $1.2B | $765M |
| Net debt | -$188M | -$48M | -$109M | -$437M | -$348M | -$849M | -$242M | -$223M | -$232M |
Cash flow
Fiscal years, from Vir Biotechnology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$66M | -$94M | -$130M | -$191M | -$48M | $1.7B | -$779M | -$446M | -$392M |
| Capital spending | $3M | $8M | $9M | $7M | $22M | $68M | $22M | $7M | $5M |
| Free cash flow | -$69M | -$102M | -$139M | -$197M | -$69M | $1.6B | -$800M | -$454M | -$397M |
| Stock-based compensation | $5M | $5M | $9M | $28M | $84M | $102M | $111M | $78M | $49M |
| Free cash flow margin | -2552.5% | -958.8% | -1712.7% | -258.6% | -6.3% | 98.7% | -928.7% | -611.4% | -578.5% |
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Open VIR in InvestinglyQuestions
What was Vir Biotechnology's revenue in 2025?
$69M in fiscal 2025, from its 10-K filing.
How much free cash flow does Vir Biotechnology generate?
-$397M in fiscal 2025 (operating cash flow minus capital spending).
From Vir Biotechnology's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.