Loading...
•
Mar 31, 2022
Jazz Pharmaceuticals Q1 2022 Earnings Report
Jazz Pharmaceuticals announced its financial results for the first quarter of 2022 and raised its 2022 financial guidance.
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)%