Halozyme Q2 2021 Earnings Report
Key Takeaways
Halozyme reported strong second-quarter results with a significant increase in revenue and earnings per share. The company raised its full-year revenue guidance to $425-$445 million and GAAP EPS guidance to $1.55-$1.70. Key drivers include milestone revenues from collaborations, increased royalty revenue, and growth in product sales.
Second quarter revenue reached $136.5 million, driven by milestone revenues, royalties, and product sales.
GAAP diluted earnings per share was $0.62, and non-GAAP diluted earnings per share was $0.66.
The company signed a new collaboration and license agreement with ViiV Healthcare.
Halozyme raised its 2021 revenue guidance to $425-$445 million and EPS guidance to $1.55-$1.70 (GAAP) and $1.85-$2.00 (non-GAAP).
Halozyme
Halozyme
Halozyme Revenue by Segment
Forward Guidance
Halozyme is raising its financial outlook for 2021 based on the recent signing of a new collaboration and license agreement, strong year-to-date results, and the latest information from collaboration partners.
Positive Outlook
- Revenues are expected to be $425 million to $445 million, representing a year-over-year growth of 59%-66%.
- GAAP Operating Income is projected to be $260 million to $280 million, indicating an 80%-94% year-over-year increase.
- GAAP Net Income is anticipated to be $235 million to $255 million, reflecting an 82%-98% year-over-year growth.
- Non-GAAP Net Income is expected to be $280 million to $300 million, showing a 75%-87% year-over-year increase.
- GAAP Diluted Earnings per Share are projected to be $1.55 to $1.70, representing a 70%-86% year-over-year growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income