Halozyme Q1 2024 Earnings Report
Key Takeaways
Halozyme reported a strong first quarter in 2024, with a 21% increase in revenue to $196 million. Net income reached $77 million, and non-GAAP diluted EPS was $0.79. The company is reiterating its full-year financial guidance, supported by the continued advancement of ENHANZE partner products and pipeline.
Revenue increased by 21% year-over-year to $196 million, driven by royalty revenue growth and an increase in milestone revenue.
Net income was $77 million, compared to $39.6 million in the first quarter of 2023.
GAAP diluted earnings per share was $0.60, while non-GAAP diluted earnings per share was $0.79.
The company reiterated its 2024 financial guidance, projecting total revenue of $915 - $985 million and non-GAAP diluted EPS of $3.55 - $3.90.
Halozyme
Halozyme
Halozyme Revenue by Segment
Forward Guidance
Halozyme is reiterating its financial guidance for 2024, initially provided on January 17, 2024.
Positive Outlook
- Total revenue of $915 million to $985 million, representing growth of 10% to 19% over 2023 total revenue primarily driven by increases in royalty revenue, collaboration revenue and growth in product sales from XYOSTED®.
- Revenue from royalties of $500 million to $525 million, representing growth of 12% to 17% over 2023.
- Adjusted EBITDA of $535 million to $585 million, representing growth of 26% to 37% over 2023.
- Non-GAAP diluted earnings per share of $3.55 to $3.90, representing growth of 28% to 41% over 2023.
- The Company’s earnings per share guidance does not consider the impact of potential future share repurchases.