Loading...
•
Mar 31, 2024
Halozyme Q1 2024 Earnings Report
Halozyme's financial performance for Q1 2024 showed significant year-over-year growth, driven by increased royalty revenue and strategic advancements in their ENHANZE technology.
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.
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...