Snapshot
Halozyme Therapeutics, Inc. reported $452M of revenue in Q4 2025, up 51.6% year over year, with diluted EPS of $-1.20 and an operating margin of -20.6%.
- Revenue
- $452M
- YoY growth
- +51.6%
- Diluted EPS
- $-1.20
- Operating margin
- -20.6%
$452M
Revenue
+51.6%
YoY growth
$-1.20
Diluted EPS
-20.6%
Operating margin
01 Key takeaways
What management said
- •Helen Torley, Halozyme's President and Chief Executive Officer, who will provide an update on our business, and Nicole LaBrosse, our Chief Financial Officer, will review our financial results as well as our outlook.
- •Certain non-GAAP or adjusted financial measures are reconciled with the comparable GAAP financial measures in our earnings press release and slide presentation.
- •This level of execution has created a clear value inflection for Halozyme, unlocking multiple drivers of long-term, durable, and profitable revenue.
- •The increase in our royalty revenue reflects the continued strength of our ENHANZE-enabled products and in particular, DARZALEX Subcutaneous, Phesgo, and VYVGART Hytrulo.
- •Johnson & Johnson reported total DARZALEX sales grew 22% operationally in 2025, reaching $14.4 billion for the year.
- •This performance resulted in $483 million in royalty revenues to Halozyme, representing 29% year-over-year growth.
- •This continued strong growth will be driven by DARZALEX subcutaneous with ENHANZE, which today represents 97% share of sales in the United States.
- •Phesgo also delivered meaningful growth for Roche in 2025, increasing 48% year-over-year to CHF 2.4 billion, or approximately $3 billion, reflecting its position as a durable global blockbuster.
- •This resulted in $105.6 million in royalty revenue to Halozyme, representing 51% year-over-year growth.
- •VYVGART and VYVGART Hytrulo with ENHANZE grew 90% year-over-year to $4.15 billion.
- •This performance resulted in royalty revenues of $157.2 million for Halozyme, representing 444% year-over-year growth.
- •This is really just the beginning for VYVGART Hytrulo, with multiple studies exploring expanded and new indications, supporting the long-term growth of this important blockbuster product.
SourcesCompany financials · earnings call
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