VIR

MKT CAP:$2B

Vir Biotechnology, Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$10.37+$4.43 (+74.58%)

Apr 24, 2026

Company Details

Vir Biotechnology, Inc., a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 ...

CEO

Marianne De Backer

IPO Date

Oct 11, 2019

Website

www.vir.bio

Key Metrics TTM

Revenue

$69M

-7.6% YoY

Net Income

-$438M

EPS (Diluted)

-$3.16

Free Cash Flow

-$392M

Revenue / Share

$0.49

Gross Margin

100.0%

Operating Margin

-682.7%

Net Margin

-638.9%

FCF Margin

-571.5%

P/S

23.9x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 23, 2026

$69M-7.6%EPS -$3.16

Q4 2025

Feb 23, 2026

$64M+417.8%EPS -$0.31

Q3 2025

Nov 5, 2025

$240.0K-89.9%EPS -$1.17

Q2 2025

Aug 6, 2025

$1M-60.5%EPS -$0.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1.2B	$1.1B	$1.0B
Q2 22	-$41M	-$184M	-$225M
Q3 22	$375M	$238M	$195M
Q4 22	$49M	-$112M	-$151M
Q1 23	$63M	-$97M	-$143M
Q2 23	$4M	-$164M	-$215M
Q3 23	$3M	-$142M	-$187M
Q4 23	$17M	-$90M	-$139M
Q1 24	$56M	-$42M	-$80M
Q2 24	$3M	-$102M	-$159M
Q3 24	$2M	-$193M	-$231M
Q4 24	$12M	-$76M	-$117M
Q1 25	$3M	-$115M	-$140M
Q2 25	$1M	-$96M	-$118M
Q3 25	$240.0K	-$151M	-$173M
Q4 25	$64M	$431M	-$37M

Valuation

Quarter	P/S	P/E
Q1 22	1.2x	2.3x
Q2 22	1.7x	3.3x
Q3 22	1.1x	2.3x
Q4 22	2.2x	6.8x
Q1 23	7.0x	—
Q2 23	6.7x	—
Q3 23	10.2x	—
Q4 23	16.2x	—
Q1 24	17.5x	—
Q2 24	15.8x	—
Q3 24	13.0x	—
Q4 24	13.5x	—
Q1 25	43.0x	—
Q2 25	36.9x	—
Q3 25	46.4x	—
Q4 25	12.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$550M	$534M
Q2 22	$960M	$940M
Q3 22	$118M	$99M
Q4 22	$35M	$23M
Q1 23	-$126M	-$133M
Q2 23	-$389M	-$399M
Q3 23	-$156M	-$160M
Q4 23	-$108M	-$109M
Q1 24	-$109M	-$111M
Q2 24	-$78M	-$79M
Q3 24	-$171M	-$174M
Q4 24	-$88M	-$90M
Q1 25	-$78M	-$80M
Q2 25	-$120M	-$123M
Q3 25	-$168M	-$168M
Q4 25	-$26M	-$21M

Capital Expenditures

Quarter	CapEx
Q1 22	$16M
Q2 22	$21M
Q3 22	$19M
Q4 22	$13M
Q1 23	$7M
Q2 23	$9M
Q3 23	$4M
Q4 23	$2M
Q1 24	$2M
Q2 24	$666.0K
Q3 24	$2M
Q4 24	$2M
Q1 25	$2M
Q2 25	$3M
Q3 25	$317.0K
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+203612.2%	+37.3%
Q2 22	-122.9%	+59.1%
Q3 22	+261.5%	+14.4%
Q4 22	-93.9%	-17.0%
Q1 23	-94.9%	-5.6%
Q2 23	+109.3%	+18.6%
Q3 23	-99.3%	+5.4%
Q4 23	-66.0%	-22.1%
Q1 24	-10.5%	-33.9%
Q2 24	-19.0%	-26.2%
Q3 24	-9.8%	+23.4%
Q4 24	-26.3%	-16.9%
Q1 25	-94.6%	+4.5%
Q2 25	-60.5%	-26.0%
Q3 25	-89.9%	-25.7%
Q4 25	+417.8%	-22.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$25M	2.1%
Q2 22	$0	—
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$16M	128.0%
Q1 25	$14M	463.7%
Q2 25	$12M	1025.6%
Q3 25	$0	0.0%
Q4 25	$23M	35.2%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$90M	—
Q2 22	$115M	—
Q3 22	$114M	—
Q4 22	$155M	—
Q1 23	$158M	—
Q2 23	$168M	—
Q3 23	$145M	—
Q4 23	$109M	—
Q1 24	$100M	—
Q2 24	$105M	—
Q3 24	$195M	—
Q4 24	$106M	—
Q1 25	$119M	—
Q2 25	$98M	—
Q3 25	$151M	$22M
Q4 25	$88M	$24M

Revenue Segments

Quarter	Collaboration Revenue	Contract Revenue	License	Grant
Q1 22	$1.2B	$282.0K	—	—
Q3 22	$309M	$40M	$22M	—
Q3 23	-$4M	$289.0K	—	$7M
Q1 24	—	$52M	—	$5M
Q2 24	$55.0K	$886.0K	—	$2M
Q1 25	-$70.0K	$2M	—	$1M
Q2 25	-$495.0K	$2M	—	$183.0K
Q3 25	-$65.0K	—	—	$305.0K

Revenue by Geography

Quarter	Non-US	United States
Q1 25	$2M	$1M
Q3 25	-$65.0K	$305.0K
Q4 25	$61M	$310.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$812M	$448M	$1.3B
Q2 22	$1.5B	$691M	$2.2B
Q3 22	$964M	$1.4B	$2.3B
Q4 22	$849M	$1.6B	$2.4B
Q1 23	$825M	$1.4B	$2.3B
Q2 23	$667M	$1.2B	$1.8B
Q3 23	$452M	$1.2B	$1.7B
Q4 23	$242M	$1.3B	$1.5B
Q1 24	$161M	$989M	$1.1B
Q2 24	$297M	$854M	$1.2B
Q3 24	$168M	$746M	$914M
Q4 24	$223M	$682M	$905M
Q1 25	$274M	$528M	$802M
Q2 25	$211M	$395M	$606M
Q3 25	$170M	$336M	$507M
Q4 25	$234M	$229M	$463M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	135M	+0.5%	+5.3%
Q2 22	132M	-1.6%	-1.0%
Q3 22	135M	+1.9%	+0.8%
Q4 22	133M	-1.3%	-0.5%
Q1 23	134M	+0.3%	-0.7%
Q2 23	134M	+0.4%	+1.2%
Q3 23	134M	+0.2%	-0.5%
Q4 23	135M	+0.2%	+1.1%
Q1 24	135M	+0.5%	+1.3%
Q2 24	136M	+0.7%	+1.6%
Q3 24	137M	+0.3%	+1.8%
Q4 24	137M	+0.1%	+1.6%
Q1 25	137M	+0.5%	+1.6%
Q2 25	138M	+0.7%	+1.6%
Q3 25	139M	+0.3%	+1.7%
Q4 25	139M	+0.2%	+1.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$3M	444
Q2 22	-$91.5K	444
Q3 22	$843.6K	444
Q4 22	$85.8K	576
Q1 23	$109.3K	576
Q2 23	$6.6K	576
Q3 23	$4.6K	576
Q4 23	$28.6K	587
Q1 24	$96.0K	587
Q2 24	$5.2K	587
Q3 24	$4.1K	587
Q4 24	$30.3K	408
Q1 25	$7.4K	408
Q2 25	$3.0K	408
Q3 25	$588	408
Q4 25	$174.6K	367

Revenue / Employee