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Mar 31, 2023
Halozyme Q1 2023 Earnings Report
Halozyme's financial performance increased, driven by revenue growth and strategic acquisitions.
Key Takeaways
Halozyme reported a 38% year-over-year increase in revenue to $162.1 million for Q1 2023, driven by royalty revenue and product sales from the Antares Pharma acquisition. GAAP diluted earnings per share was $0.29, and non-GAAP diluted earnings per share was $0.47. The company reiterates its 2023 revenue guidance of $815-$845 million and EBITDA of $415-$440 million.
Revenue increased 38% year-over-year to $162.1 million.
Royalty revenue increased 43% year-over-year to $99.6 million.
GAAP diluted earnings per share was $0.29, while non-GAAP diluted earnings per share was $0.47.
Halozyme repurchased 4.2 million shares of common stock for $150.0 million in Q1 2023.
Halozyme
Halozyme
Halozyme Revenue by Segment
Revenue by Segment
Royalties Revenue
CapyFin.comUnder Collaborative Agreements Revenue
CapyFin.com Forward Guidance
Halozyme is reiterating its financial guidance for 2023, expecting total revenue of $815 million to $845 million, royalty revenue of $445 million to $455 million, EBITDA of $415 million to $440 million, and non-GAAP diluted earnings per share of $2.50 to $2.65.
Positive Outlook
- Total revenue of $815 million to $845 million, representing growth of 23% to 28% over 2022.
- Revenue from royalties of $445 million to $455 million, representing growth of 23% to 26%.
- EBITDA of $415 million to $440 million, representing growth of >30% over 2022.
- Non-GAAP diluted earnings per share of $2.50 to $2.65, representing growth of >10% over 2022.
- Growth is primarily driven by continued strength in Wave 2 products and full year auto-injector royalty and product contribution.
Revenue & Expenses
Visualization of income flow from segment revenue to net income