Halozyme Q1 2023 Earnings Report
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
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