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Sep 30, 2024
BioCryst Q3 2024 Earnings Report
BioCryst reported strong Q3 2024 results with significant revenue growth, pipeline advancement, and operating profitability.
Key Takeaways
BioCryst Pharmaceuticals reported a successful third quarter in 2024, marked by a 35.1% increase in total revenues to $117.1 million. The company saw significant growth in ORLADEYO net revenue, reaching $116.3 million, and achieved GAAP operating profit of $7.7 million. The company has adjusted its full-year 2024 ORLADEYO revenue guidance to $430-$435 million and introduced total product revenue guidance of $443-$448 million.
ORLADEYO net revenue reached $116.3 million, a 35.7% increase year-over-year.
Full-year 2024 ORLADEYO revenue guidance adjusted to $430-$435 million.
Full-year 2024 total product revenue guidance introduced at $443-$448 million, including RAPIVAB revenue.
GAAP operating profit was $7.7 million, with non-GAAP operating profit at $24.9 million.
Revenue by Segment
Forward Guidance
BioCryst has adjusted its outlook for full year 2024 global net ORLADEYO revenue to be between $430 million and $435 million and introducing full-year 2024 total revenue guidance of between $443 and $448 million.The company is revising its guidance for operating expenses, and now expects full year 2024 operating expenses to be between $380 million and $390 million.
Positive Outlook
- Full year ORLADEYO revenue guidance adjusted to $430-$435 million.
- Full year total revenue guidance of $443-$448 million.
- Confident that it will achieve a full-year operating profit in 2024 (not including non-cash stock compensation)
- Approaching quarterly positive earnings per share (EPS) and positive cash flow in the second half of 2025 (not including non-cash stock compensation)
- Profitable on an EPS basis, with positive cash flow, for full year 2026.
Challenges Ahead
- Full year 2024 operating expenses expected to be between $380 million and $390 million.
- Increase is driven primarily by increased COGS related to new RAPIVAB sales
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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