Seattle-based Fred Hutchinson Cancer Center recorded operating income of $25.7 million (1% margin) for fiscal year 2026, down from operating income of $82.8 million (3.3% margin) in fiscal 2025, according to its audited financial statements for the 12 months ended June 30.
Fred Hutch reported total revenue of $2.7 billion in fiscal 2026, a 6.4% increase year over year. Patient service revenue rose 17% to $1.9 billion, while research grants and contracts revenue decreased 1.4% to $493 million. Contributions decreased 27.1% to $141.8 million, and investment income and realized gains fell 44.3% to $76.9 million.
Total expenses were $2.6 billion for fiscal 2026, a 9% increase year over year. Supplies and pharmaceuticals rose 21.7% to $891.1 million. Salaries, wages and benefits increased 5.4% to $902.7 million, and purchased services were flat at $349.2 million.
Fred Hutch posted net income of $142 million in fiscal 2026, up from $103.2 million the prior year. The increase was helped by $83.6 million in unrealized investment gains, compared with $22.3 million in unrealized losses in fiscal 2025.
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