BioMarin Q4 2021 Earnings Report
Key Takeaways
BioMarin Pharmaceutical Inc. announced its Q4 and full-year 2021 financial results, with total revenues for the fourth quarter of 2021 were $449.8 million, essentially flat compared to the same period in 2020. The company is focusing on the launch of Voxzogo and the potential approval of valoctocogene roxaparvovec to drive growth in 2022.
Total Revenues for Q4 2021 were $449.8 million, essentially flat compared to Q4 2020.
GAAP Net Loss increased to $57.9 million for Q4 2021, compared to GAAP Net Income of $22.1 million for Q4 2020.
Non-GAAP Income for Q4 2021 decreased to $7.1 million, compared to $39.5 million for the same period in 2020.
Full-year 2022 Total Revenue Guidance of $2.05 Billion to $2.15 Billion, Representing 14% Growth Year-Over-Year.
BioMarin
BioMarin
BioMarin Revenue by Segment
Forward Guidance
BioMarin provided full-year 2022 financial guidance, including total revenues between $2.05 billion and $2.15 billion and GAAP Net Income between $95 million and $135 million.
Positive Outlook
- Total Revenues $2,050 to $2,150 million
- Vimizim Net Product Revenues $650 to $700 million
- Naglazyme Net Product Revenues $400 to $440 million
- Palynziq Net Product Revenues $280 to $310 million
- Brineura Net Product Revenues $145 to $160 million
Challenges Ahead
- Kuvan Net Product Revenues $225 to $250 million
- Cost of Sales (% of Total Revenues) 23% to 25%
- Research and Development Expense $665 to $715 million
- Selling, General and Administrative Expense $790 to $840 million
- GAAP Net Income $95 to $135 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income