GILEAD SCIENCES, INC.
RECONCILIATION OF GAAP TO NON-GAAP 2026 FULL-YEAR GUIDANCE(1)
(unaudited)
     
(in millions, except percentages and per share amounts) Provided 

February 10, 2026		 Updated 

May 7, 2026
Projected product gross margin GAAP to non-GAAP reconciliation:    
GAAP projected product gross margin ~ 79.0% ~ 79.0%
Acquisition-related expenses ~ 8.0% ~ 8.0%
Non-GAAP projected product gross margin ~ 87.0% ~ 87.0%
     
Projected operating income (loss) GAAP to non-GAAP reconciliation:    
GAAP projected operating income (loss) $11,400 - $11,900 $(1,000) - $(500)
Acquisition-related, restructuring and other expenses ~ 2,400 ~ 3,400
Non-GAAP projected operating income $13,800 - $14,300 $2,400 - $2,900
     
Projected effective tax rate GAAP to non-GAAP reconciliation:(2)    
GAAP projected effective tax rate ~ 21% ~ (150%) - (220%)
Income tax effect of above non-GAAP adjustments and fair value adjustments of equity securities, and discrete and related tax adjustments (~ 1%) NM
Non-GAAP projected effective tax rate ~ 20% ~ 190% - 140%
     
Projected diluted earnings (loss) per share GAAP to non-GAAP reconciliation:    
GAAP projected diluted earnings (loss) per share $6.75 - $7.15 $(3.25) - $(2.85)
Acquisition-related, restructuring and other expenses, fair value adjustments of equity securities and discrete and related tax adjustments ~ 1.70 ~ $2.20
Non-GAAP projected diluted earnings (loss) per share $8.45 - $8.85 $(1.05) - $(0.65)