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Sep 30
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.
Halozyme
Halozyme
Halozyme Revenue by Segment
Revenue by Segment
Royalties Revenue
CapyFin.comProduct Sales, Net Revenue
CapyFin.comCollaborative Agreements Revenue
CapyFin.com 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
- No specific guidance on product sales or new ENHANZE launches