Loading...
•
Sep 30, 2023
BioMarin Q3 2023 Earnings Report
Reported strong Q3 2023 results with continued profitability and 15% total revenue growth year over year.
Key Takeaways
BioMarin announced strong third quarter 2023 results, including continued profitability, and 15% total revenue growth year over year. Total revenues for the third quarter of 2023 were $581.3 million, an increase of 15% compared to the same period in 2022.
Total Revenues for the third quarter of 2023 were $581.3 million, an increase of 15% compared to the same period in 2022.
GAAP and Non-GAAP Net Income of $40.4 million and $89.5 million resulted in increases of $47.1 million and $37.5 million for the third quarter of 2023 compared to the same period in 2022, respectively.
VOXZOGO Now Approved for Children without Age Restrictions in the United States and for Children Aged 4 Months and Older in Europe
ROCTAVIAN Reimbursement Network On-track to Support Global Patient Access and Treatment in 2024 and Beyond; Final German and Italian Prices Expected in 2023; Over 100 Treatment Eligible Companion Diagnostic Tests Completed Globally
BioMarin
BioMarin
BioMarin Revenue by Segment
Revenue by Segment
VOXZOGO Revenue
CapyFin.comKUVAN Revenue
CapyFin.comROCTAVIAN Revenue
CapyFin.com Forward Guidance
BioMarin narrowed its full-year 2023 Total Revenues and Earnings Per Share Financial Guidance; VOXZOGO and ROCTAVIAN Net Product Revenue Guidance Adjusted for Full-year 2023. For Full-year 2024, BioMarin Expects Revenues to Approach $3 Billion
Positive Outlook
- Total Revenues guidance updated to $2,390 to $2,470 million
- Enzyme Product Revenues guidance maintained at $1,700 to $1,775 million
- VOXZOGO Revenues guidance updated to $435 to $455 million
- Gross Profit % guidance maintained at 77.8% to 79%
- GAAP Net Income guidance updated to $170 to $210 million
Challenges Ahead
- ROCTAVIAN Revenues guidance lowered to less than $10M
- SG&A % of Revenue guidance updated to 36% to 38%
- GAAP Diluted EPS guidance updated to $0.85 to $1.05
- Non-GAAP Income guidance updated to $380 to $410 million
- Non-GAAP Diluted EPS guidance updated to $1.90 to $2.05
Revenue & Expenses
Visualization of income flow from segment revenue to net income