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Sep 30, 2024
BioMarin Q3 2024 Earnings Report
Reported a 28% year-over-year increase in total revenue for the third quarter and raised full-year 2024 guidance, while reaffirming long-term guidance and outlook.
Key Takeaways
BioMarin announced strong Q3 2024 results, with a 28% increase in total revenue to $746 million, driven by VOXZOGO and Enzyme Therapies. The company raised its full-year 2024 guidance and reaffirmed its long-term outlook, reflecting confidence in its growth strategy and operational efficiency.
Total revenues for Q3 2024 reached $746 million, a 28% increase year-over-year.
VOXZOGO revenue grew by 54% year-over-year, driven by strong demand.
Enzyme Therapies portfolio revenues increased by 27% year-over-year.
GAAP diluted EPS was $0.55, a 162% increase year-over-year, and Non-GAAP diluted EPS was $0.91, a 98% increase year-over-year.
BioMarin
BioMarin
BioMarin Revenue by Segment
Revenue by Segment
VOXZOGO Revenue
CapyFin.comKUVAN Revenue
CapyFin.com Forward Guidance
BioMarin increased full-year 2024 guidance for Total Revenues, Non-GAAP Operating Margin, and Non-GAAP Diluted EPS.
Positive Outlook
- Total Revenues: $2.79 billion to $2.825 billion
- Non-GAAP Operating Margin: 26.5% to 27.5%
- Non-GAAP Diluted EPS: $3.25 to $3.35
- Sustained strong demand for VOXZOGO
- Growth trajectory of Enzyme Therapies
Revenue & Expenses
Visualization of income flow from segment revenue to net income