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Jun 30, 2021
Halozyme Q2 2021 Earnings Report
Halozyme's second quarter 2021 revenue increased, driven by milestone revenues, royalties, and product sales, leading to raised revenue and earnings guidance for the year.
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
Revenue by Segment
Royalties Revenue
CapyFin.comUnder Collaborative Agreements Revenue
CapyFin.com 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