Biogen Inc. BIIB
Revenue Intelligence Report • 19 quarters of SEC filing data • Updated 2026-03-15
Biogen Inc. has a forecasted full-year revenue of $6.3B, a +11.0% year-over-year change, based on 19 quarters of SEC filing data. Key revenue drivers include R&D (elasticity 0.30x) and SG&A (elasticity 0.92x). The ARDL model achieves strong accuracy at 1.1% MAPE.
Investment Thesis
Our ARDL model tracks Biogen Inc.'s revenue with exceptional precision (1.1% MAPE), indicating highly predictable cash flows. R&D investment shows a 0.30x multiplier — each 1% increase in R&D spend is associated with a 0.30% revenue increase, signaling strong innovation-to-revenue conversion. Sales & marketing spend shows a 0.92x elasticity, suggesting effective go-to-market execution.
Revenue Forecast
Quarterly Detail
| Quarter | Model Forecast | Actual | 95% Range | YoY Growth | Status |
|---|---|---|---|---|---|
| Q2 2013 | $1.5B | $1.4B | $1.4B – $1.5B | +15.2% | ✗ Outside range |
| Q3 2013 | $1.5B | $1.5B – $1.6B | +7.2% | ||
| Q4 2013 | $1.5B | $1.4B – $1.6B | +7.8% | ||
| Q1 2014 | $1.6B | $1.5B – $1.7B | +12.9% | ||
| Q2 2014 | $1.6B | $1.5B – $1.7B | +15.9% |
Seasonal Factors
| Fiscal Quarter | Seasonal Factor | vs Trend | Interpretation | Obs. |
|---|---|---|---|---|
| FQ1 (Sep–Nov) | 1.007 | +0.7% | In line with trend | 4 |
| FQ2 (Dec–Feb) | 1.0071 | +0.7% | In line with trend | 4 |
| FQ3 (Mar–May) | 0.9948 | -0.5% | In line with trend | 4 |
| FQ4 (Jun–Aug) | 1.0016 | +0.2% | In line with trend | 4 |
How Spending Drives Revenue
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