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Halozyme
🇺🇸 NASDAQ:HALO
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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.

Total Revenue
$152M
Previous year: $136M
+11.7%
EPS
$0.53
Previous year: $0.66
-19.7%
Gross Profit
$118M
Previous year: $113M
+4.4%
Cash and Equivalents
$90.9M
Previous year: $447M
-79.7%
Free Cash Flow
$39.3M
Previous year: $36.4M
+8.0%
Total Assets
$1.78B
Previous year: $1.03B
+73.6%

Halozyme

Halozyme

Halozyme Revenue by Segment

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

Company Overview

Full financial data and analysis

View Halozyme