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Jun 30, 2022
Halozyme Q2 2022 Earnings Report
Halozyme's Q2 2022 financial performance, marked by a 12% YoY revenue increase and the strategic acquisition of Antares Pharma, accelerating growth in drug delivery leadership.
Key Takeaways
Halozyme Therapeutics reported a strong second quarter with a 12% increase in revenue, driven by royalty revenue and the acquisition of Antares Pharma. The company is raising its full-year revenue guidance to $655 million to $685 million.
Second Quarter Revenue Increased 12% YOY to $152.4 million.
GAAP Diluted Earnings per Share of $0.16 and Non-GAAP Diluted Earnings per Share of $0.53.
Record Second Quarter Royalty Revenue Increased 86% YOY to $85.3 million.
Raising 2022 Revenue Guidance to $655 Million to $685 Million.
Halozyme
Halozyme
Halozyme Revenue by Segment
Revenue by Segment
Royalties Revenue
CapyFin.comUnder Collaborative Agreements Revenue
CapyFin.com Forward Guidance
The Company is raising its financial guidance for 2022 as a result of the recent close of the Antares Pharma transaction and strong year-to-date results.
Positive Outlook
- Total revenue of $655 million to $685 million, representing growth of 48% to 55% over 2021 total revenue
- Projected revenue contribution from the Antares business of $115 million to $125 million.
- Revenue from royalties to increase greater than 65% over revenue from royalties in 2021 to approximately $340 million to $350 million.
- Non-GAAP net income of $295 million to $320 million.
- Non-GAAP diluted earnings per share are expected to be $2.10 to $2.25.
Challenges Ahead
- Operating income of $240 million to $265 million, representing a decline of 4% to 13% over 2021 operating income.
- Includes one-time transaction costs related to the Antares Pharma acquisition, including amortization of intangible assets.
- Includes an incremental $20 million operating expense investment to maximize ENHANZE® and to extend royalty revenue durability.
- GAAP net income of $170 million to $195 million.
- GAAP diluted earnings per share of $1.20 to $1.35, due to acquisition related costs in 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income