Regeneron Pharmaceuticals, Inc. REGN

Revenue Intelligence Report • 69 quarters of SEC filing data • Updated 2026-10-14 • Data through 2026-06-30

Regeneron Pharmaceuticals, Inc.'s latest quarterly revenue is $4.3B for the period ending 2026-06-30. The model projects $15.5B across the next four quarters (+0.0% versus the preceding four quarters). The forecast uses SG&A data; model selection and estimation exclude the latest quarter, whose retrospective holdout error is 22.6%. These are statistical associations, not estimates of the causal effect of spending.

Investment Thesis

The GAM forecast is based on reported revenue and SG&A data through 2026-06-30. Training MAPE measures fit to historical data; the separately reported holdout error measures a withheld quarter. Spending coefficients describe associations and do not establish causation.

Next 4 Quarters
$15.5B
+0.0% YoY
SG&A Elasticity
0.96x
Training Fit
11.2% MAPE
Retrospective holdout (Q2 FY2026): The model predicted $3.32B vs the actual $4.29B — an error of 22.6%.
Retrospective one-quarter holdout: model fitting and selection exclude this quarter. Historical inputs use the latest available restatements, so this is not a preserved real-time forecast.
Note: Regeneron Pharmaceuticals, Inc. does not report R&D expenses separately. The model uses the available expense measure without a separate R&D term.
Investor insight: Actual revenue ($4.3B) came in 23% above the spending-based forecast ($3.3B). This suggests that Regeneron Pharmaceuticals, Inc.'s recent revenue growth is driven significantly by external demand factors — such as market pricing, product cycle tailwinds, or structural demand shifts — beyond what its R&D and SG&A spending alone would predict.

Revenue Forecast

REGN Revenue Forecast

Quarterly Detail

QuarterModel ForecastActual95% RangeYoY GrowthStatus
Q2 FY2026
Period end 2026-06-30		 $3.32B $4.29B $2.13B–$5.16B -9.7% ✓ In range
Q3 FY2026
Period end 2026-09-30		 $3.61B $2.20B–$5.90B -3.9%
Q4 FY2026
Period end 2026-12-31		 $4.66B $2.67B–$8.13B +20.0%
Q1 FY2027
Period end 2027-03-31		 $3.79B $2.03B–$7.06B +5.1%
Q2 FY2027
Period end 2027-06-30		 $3.48B $1.73B–$7.01B -18.9%

Seasonal Factors

Multiplicative seasonal adjustment: These factors capture Regeneron Pharmaceuticals, Inc.'s systematic quarterly revenue patterns relative to the trend model. A factor of 1.05 means that quarter typically runs 5% above the underlying trend; 0.95 means 5% below. Factors are computed as the median of (actual / fitted) across all available quarters.
Fiscal QuarterSeasonal Factorvs TrendInterpretationObs.
FQ1 (Jan–Mar) 0.9627 -3.7% -3.7% below trend 17
FQ2 (Apr–Jun) 1.025 +2.5% In line with trend 17
FQ3 (Jul–Sep) 1.0523 +5.2% +5.2% above trend 17
FQ4 (Oct–Dec) 0.9383 -6.2% -6.2% below trend 17

Spending and Revenue

REGN Spending Timing
Reading this chart: Each line shows the cumulative revenue association with a 1% change in spending over subsequent quarters. These estimates describe historical associations and do not establish causation.

Time-Varying Spending Associations

Time-varying analysis: A penalized spline model (GAM) tracks the association between log spending and log revenue over 69 quarters. Its coefficients describe conditional historical associations, not causal returns on spending.
Current SG&A elasticity: 1.313x
The model-term chart shows relative absolute term magnitudes. Its percentages are not shares of revenue or causal contributions to growth.
Enhanced forecast: The time-varying model (GAM) was selected using training fit, before evaluating the withheld quarter. Its holdout error is -22.6%.

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Data sourced from SEC EDGAR XBRL filings. SEC source data. Forecast model: GAM; spending associations: ARDL (log-log) with 69 quarters. This analysis is for informational purposes only and does not constitute investment advice.

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