BeOne Medicines (ONC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and BeOne Medicines published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. BeOne Medicines reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, per ADS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• EPS on this page is per American Depositary Share (ADS), the security listed on Nasdaq under ONC. Each ADS represents 13 ordinary shares; per ordinary share, Q3 2026 diluted EPS was $0.25 against $0.08.
• BeOne Medicines was formerly BeiGene. It redomiciled to Switzerland and changed its name in 2025. Its ordinary shares also trade in Hong Kong and Shanghai.
• BeOne's adjusted figures exclude share-based compensation, depreciation and amortization, plus items such as equity investment impairments and discrete tax items.

Source: BeOne Medicines Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How BeOne Medicines splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• BeOne Medicines's BRUKINSA revenue was $1.4 billion in Q3 2026, up 34% from $1.0 billion in Q3 2025, 74% of total revenue.
• BeOne Medicines's TEVIMBRA revenue was $243 million in Q3 2026, up 28% from $191 million in Q3 2025, 13% of total revenue.
• BeOne Medicines's XGEVA revenue was $106 million in Q3 2026, up 25% from $84.2 million in Q3 2025, 6% of total revenue.
• BeOne Medicines's BLINCYTO revenue was $38.9 million in Q3 2026, up 28% from $30.5 million in Q3 2025, 2% of total revenue.
• BeOne Medicines's BAITUOWEI revenue was $22.1 million in Q3 2026, up 97% from $11.2 million in Q3 2025, 1% of total revenue.
• BeOne Medicines's KYPROLIS revenue was $13.9 million in Q3 2026, down 24% from $18.4 million in Q3 2025, under 1% of total revenue.
• BeOne Medicines's POBEVCY revenue was $10.7 million in Q3 2026, up 2% from $10.5 million in Q3 2025, under 1% of total revenue.
• BeOne Medicines's Other products revenue was $29.8 million in Q3 2026, up 235% from $8.9 million in Q3 2025, 2% of total revenue.
• BeOne Medicines's Other revenue revenue was $34.8 million in Q3 2026, up 101% from $17.3 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, BeOne Medicines said:

“BeOne's total revenue guidance for full year 2026 of $6.9 billion to $7.0 billion reflects performance through the third quarter and the Company's expectations for the remainder of the year.”

“Gross margin percentage is expected to be in the high-80% range and includes the impact of product mix and productivity improvements.”

“Other income (expense): Estimated range of $25 million to $50 million in expense, includes interest amortization from the Royalty Pharma arrangement.”

“The Company expects diluted ADSs outstanding of approximately 118 million.”

Source: BeOne Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ONC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenue and diluted EPS per ADS, each as first reported in that quarter's release.

We do not hold a confirmed date for BeOne Medicines's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

BeOne Medicines reported Q3 2026 total revenue of $1,889.8 million, up from $1,412.3 million, an increase of 34%. Net product revenue was $1,855.1 million, up 33.0%, and other revenue, mainly royalties under the Amgen collaboration and revenue under a Novartis marketing and promotion agreement, was $34.8 million. (BeOne Form 10-Q, Q3 2026, Nov 5, 2026; BeOne Q3 2026 release, Nov 5, 2026)

BRUKINSA (zanubrutinib), BeOne's BTK inhibitor, is most of the business: $1,390.9 million of sales, up 33.7%. U.S. sales were $1,005.1 million, up 36.1%, which BeOne put down primarily to demand growth. Europe contributed $217.6 million, up 33.3%, on market share gains in Germany, Italy, Spain, France and the UK. China added $103.1 million, up 11.6%, and the rest of the world $65.2 million. (BeOne Form 10-Q, Q3 2026, Nov 5, 2026)

TEVIMBRA (tislelizumab) sales rose 27.6% to $243.3 million. Revenue from the Amgen products BeOne sells in China was $167.0 million, up 25.5%, driven primarily by higher XGEVA sales volume. BeOne decided to discontinue promotion of POBEVCY and took a $22.0 million non-cash intangible impairment on it. (BeOne Form 10-Q, Q3 2026, Nov 5, 2026)

BeOne sells through a few large distributors. In 2025 ASD Specialty Healthcare (Cencora), McKesson and Shanghai Pharmaceutical accounted for approximately 18.5%, 17.5% and 10.1% of product revenue. (BeOne Form 10-K, 2025, Feb 26, 2026)

BeOne Medicines' GAAP diluted EPS was $3.28 per ADS in Q3 2026, against $1.09, on net income of $384.7 million against $124.8 million. Adjusted diluted EPS was $4.59 per ADS. The gap comes mostly from share-based compensation ($1.13 per ADS), depreciation ($0.32) and amortization of intangibles ($0.20), which the adjusted measure excludes. (BeOne Q3 2026 release, Nov 5, 2026)

Operating leverage drove the increase. GAAP income from operations rose 157% to $418.7 million while total operating expenses grew 19%. Gross margin on product sales was 88.3%, up from 85.9%, because of a higher mix of BRUKINSA and lower production costs. Research and development expense rose 26.2% to $660.8 million as BeOne moved programs into late-stage trials. (BeOne Q3 2026 release, Nov 5, 2026; BeOne Form 10-Q, Q3 2026, Nov 5, 2026)

BeOne still records a valuation allowance on its net deferred tax assets, and Q3 2026 income tax expense was $25.7 million on pretax income of $410.4 million. Weighted-average diluted ADSs were 117,304,215, against 114,519,258 a year earlier. (BeOne Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

BeOne Medicines gives a full-year outlook in its release and raised it in Q3 2026. It now expects 2026 total revenue of $6.9 billion to $7.0 billion, up from $6.6 billion to $6.8 billion, GAAP operating income of $1.2 billion to $1.3 billion, up from $1.0 billion to $1.1 billion, and non-GAAP operating income of $1.9 billion to $2.0 billion. Gross margin is expected in the high-80% range. (BeOne Q3 2026 release, Nov 5, 2026)

The guidance assumes November 1, 2026 exchange rates and no new material business development. BeOne expects other expense of $25 million to $50 million and about 118 million diluted ADSs, and said it expects to reverse certain tax valuation allowances in the fourth quarter of 2026, which would produce a material tax benefit when recognized. (BeOne Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover BeOne Medicines, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones BeOne Medicines's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ONC is on is ONC a buy or a sell?, what analysts expect next is on the ONC forecast, and what the company does is on the BeOne Medicines (ONC) stock page.

Every number on this page can be traced to a document BeOne Medicines published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.