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Biogen
🇺🇸 NASDAQ:BIIB
•
Dec 31, 2024

Biogen Q4 2024 Earnings Report

Key Takeaways

Biogen reported Q4 2024 revenue of $2.46 billion, a 3% increase year-over-year. GAAP diluted EPS was $1.83, up 7% YoY, while Non-GAAP diluted EPS reached $3.44, up 17% YoY. Growth was primarily driven by rare disease revenue and biosimilars, which offset declines in multiple sclerosis products.

Total Revenue
$2.45B
Previous year: $2.39B
+2.9%
EPS
$3.44
Previous year: $2.95
+16.6%
GAAP Operating Margin
11.87%
Non-GAAP Operating Margin
20.46%
Effective Tax Rate
8.5%
Gross Profit
$2.45B
Previous year: $1.77B
+38.8%
Cash and Equivalents
$2.38B
Previous year: $1.05B
+126.2%
Free Cash Flow
$722M
Previous year: -$52.7M
-1470.0%
Total Assets
$28B
Previous year: $26.8B
+4.5%

Biogen Revenue

Biogen EPS

Biogen Revenue by Segment

Biogen Revenue by Geographic Location

Forward Guidance

Biogen expects FY 2025 revenue to decline by a mid-single digit percentage, driven by further declines in multiple sclerosis product revenue, partially offset by growth in product launches.

Positive Outlook

  • Continued revenue growth from LEQEMBI and SKYCLARYS.
  • FDA approval for LEQEMBI intravenous maintenance dosing.
  • Cost reductions through the Fit for Growth program.
  • Pipeline expansion with key late-stage assets.
  • Stable operating margin expected for 2025.

Challenges Ahead

  • Declining multiple sclerosis product revenue.
  • Foreign exchange headwinds impacting financials.
  • Increased competition in rare disease treatments.
  • Uncertainty around Alzheimer’s collaboration revenue.
  • Potential impact of macroeconomic conditions on revenue.

Revenue & Expenses

Visualization of income flow from segment revenue to net income