Jazz Pharmaceuticals Q1 2022 Earnings Report
Key Takeaways
Jazz Pharmaceuticals reported a strong first quarter in 2022, with total revenues of $813.7 million, a 34% increase compared to the same period in 2021. The company raised its top- and bottom-line guidance for 2022, driven by continued execution and significant progress across commercial and R&D.
Total revenues for 1Q22 were $813.7 million, a 34% increase compared to the same period in 2021.
Xywav net product sales increased 147% to $186.1 million in 1Q22 compared to the same period in 2021.
Epidiolex/Epidyolex net product sales increased 6% to $157.9 million in 1Q22 compared to the same period in 2021, on a proforma basis.
The company is raising its full year 2022 revenue guidance to $3.5 to $3.7 billion.
Jazz Pharmaceuticals
Jazz Pharmaceuticals
Forward Guidance
The Company is raising its full year 2022 financial guidance.
Positive Outlook
- Revenue guidance increased to $3.5 - $3.7 billion
- Neuroscience revenue guidance increased to $2.6 - $2.8 billion
- Oncology revenue guidance maintained at $840 - $920 million
- Non-GAAP adjusted net income per diluted share guidance increased to $16.70 - $17.70
- Gross margin % 84%
Challenges Ahead
- SG&A expenses $1,299 - $1,389 million
- SG&A expenses as % of total revenues 35% - 40%
- R&D expenses $621 - $669 million
- R&D expenses as % of total revenues 17% - 19%
- Effective tax rate (117)% - (30)%