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Mar 31, 2020
Jazz Pharmaceuticals Q1 2020 Earnings Report
Jazz Pharmaceuticals' financial results for Q1 2020 were announced, with total revenues increasing by 5% compared to Q1 2019.
Key Takeaways
Jazz Pharmaceuticals announced its Q1 2020 financial results, reporting a 5% increase in total revenues to $535 million compared to the first quarter of 2019. The company is managing operating expenses and prioritizing investments in its most important current and future revenue drivers.
Total revenues increased 5% to $535 million compared to the first quarter of 2019.
Xyrem net revenues were $408 million, an increase of 11% compared to the first quarter of 2019.
Cash from operations exceeded $270 million, with cash and investments of $1 billion at quarter end.
Full-year revenue guidance was reduced due to the anticipated impact of the COVID-19 pandemic.
Jazz Pharmaceuticals
Jazz Pharmaceuticals
Jazz Pharmaceuticals Revenue by Segment
Revenue by Segment
Xyrem Revenue
CapyFin.comDefitelio/defibrotide Revenue
CapyFin.comVyxeos Revenue
CapyFin.comOther Revenue
CapyFin.comRoyalties & Contracts Revenue
CapyFin.com Forward Guidance
The May 5, 2020 guidance provided reflects the anticipated financial impact of COVID-19 to the company's business. This guidance assumes the majority of the negative impact will be in the second quarter, with a return to normalized operations later in the year.
Positive Outlook
- Proactive management of operating expenses following prioritization of investments in the company's most important current and future revenue drivers.
- Gross margin % 94%
- SG&A expenses $785 - $843
- R&D Expenses $277 - $313
- Net income per diluted share$2.70 - $4.30
Challenges Ahead
- Guidance update reflects management's current expectations and includes the impact of factors such as declines in medical visits
- Fewer patients accessing treatment
- Declines in sales representative access to healthcare providers with social distancing
- Closure of offices and treatment centers and shifting of healthcare system focus to caring for COVID-19 patients
- Increased unemployment, and loss of healthcare coverage.
Revenue & Expenses
Visualization of income flow from segment revenue to net income