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Sep 30, 2025
Halozyme Q3 2025 Earnings Report
Halozyme reported strong Q3 2025 results with record revenue and net income driven by continued growth in royalty streams from ENHANZE-enabled therapies.
Key Takeaways
Halozyme achieved record revenue and net income in Q3 2025, supported by significant royalty revenue growth and contributions from ENHANZE-enabled products.
Total revenue reached $354.3 million, driven by $236 million in royalty revenue.
GAAP diluted EPS was $1.43, while non-GAAP EPS reached $1.72.
Operating income rose to $217.9 million, up from $163.2 million a year earlier.
Cash and marketable securities increased to $702 million, reflecting strong operational cash flow.
Revenue by Segment
Forward Guidance
Halozyme raised its full-year 2025 guidance, projecting stronger revenue, adjusted EBITDA, and non-GAAP EPS, primarily due to continued royalty revenue growth.
Positive Outlook
- Raised total revenue guidance to $1.3–$1.375 billion
- Increased royalty revenue guidance to $850–$880 million
- Boosted adjusted EBITDA guidance to $885–$935 million
- Uplifted non-GAAP EPS forecast to $6.10–$6.50
- Confidence in continued momentum from ENHANZE product expansion
Challenges Ahead
- No update on potential delays in Elektrofi acquisition close
- Litigation costs impacted SG&A expenses
- Decline in revenue from collaborative agreements
- Higher cost of sales due to material scrap and labor allocation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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