Financials

Halozyme Therapeutics Inc. financials

HALO Biotechnology

Halozyme Therapeutics Inc., founded in 1998 and headquartered in San Diego, California, develops and commercializes its proprietary ENHANZE enzyme technology to enable subcutaneous delivery of large molecule therapeutics. The company’s revenue is driven by royalties and milestone payments from partnerships with leading pharma companies. Led by CEO Paul Clancy since 2021, Halozyme is expanding its pipeline with new studies in oncology and immunology while strengthening its market position through strategic collaborations.

Snapshot

Halozyme Therapeutics Inc. reported $1.40B in revenue in fiscal 2025, up 37.6% year over year, with an operating margin of 33.6%.

Revenue (FY2025)
$1.40B
YoY growth
+37.6%
Operating margin
33.6%
Direction
Expanding

Financial statements

In thousands, USD · annual
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Total Revenues1,396,6101,015,320829,253660,116
Cost of Sales228,774159,417192,361139,304
Gross Profit1,167,840855,907636,892520,812
Selling, General & Administrative Expenses207,092154,335149,182143,526
Depreciation & Amortization Expenses76,66271,04973,77343,148
Research & Development Expenses81,49079,04876,36366,607
Other Operating Expenses333,587———
Operating Profit469,006551,475337,574267,531
Interest and Investment Income21,47223,75216,3171,046
Interest Expense(18,126)(18,095)(18,762)(16,947)
Non-Operating Income(5,477)—13,200(2,712)
Total Non-Operating Income(2,131)5,65710,755(18,613)
Income Before Provision for Income Taxes466,875557,132348,329248,918
Provision for Income Taxes149,986113,04166,73546,789
Consolidated Net Income316,889444,091281,594202,129
Net Income Attributable to Common Shareholders316,889444,091281,594202,129
Basic EPS2.643.502.131.48
Diluted EPS2.563.432.101.44
Basic Weighted Average Shares Outstanding119,840126,827131,927136,844
Diluted Weighted Average Shares Outstanding123,904129,424134,197140,608
Shares Outstanding117,782123,138126,770135,154
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Cash and Cash Equivalents133,820115,850118,370234,195
Short-Term Investments9,000480,224217,630128,599
Total Cash and Cash Equivalents142,820596,074336,000362,794
Accounts Receivable441,273308,455234,210231,072
Total Trade Receivables441,273308,455234,210231,072
Inventories176,475141,860127,601100,123
Other Current Assets64,63938,95148,61345,024
Total Current Assets825,2071,085,340746,424739,013
Net Property, Plant & Equipment82,13775,03574,94475,570
Net Intangible Assets981,467401,830472,879546,652
Goodwill580,360416,821416,821409,049
Other Long-Term Assets56,15284,45122,20271,227
Total Assets2,525,3202,063,4801,733,2701,841,510
Accounts Payable20,89910,24911,81617,693
Accrued Expenses156,193128,851100,67899,762
Current Portion of Long-Term Debt———13,334
Total Current Liabilities177,092139,100112,494130,789
Long-Term Debt2,142,6301,505,8001,499,2501,492,770
Other Long-Term Liabilities156,78754,75837,72048,158
Total Long-Term Liabilities2,299,4201,560,5601,536,9701,540,920
Total Liabilities2,476,5101,699,6601,649,4601,671,710
Common Stock118123127135
Additional Paid-in Capital12,002—2,40927,368
Accumulated Other Comprehensive Income(18,092)3,829(9,278)(922)
Retained Earnings54,786359,86990,550143,217
Total Common Shareholders' Equity48,814363,82183,808169,798
Total Shareholders' Equity48,814363,82183,808169,798
Total Liabilities and Shareholders' Equity2,525,3202,063,4801,733,2701,841,510
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Net Income316,889444,091281,594202,129
Depreciation & Amortization88,05181,31284,85649,641
Share-Based Compensation Expense51,56543,38536,62024,397
Other Adjustments347,309(447)24,17252,388
Changes in Trade Receivables(128,063)(74,245)(3,339)(83,941)
Changes in Inventories2,554(67,381)(26,884)(17,481)
Changes in Accounts Payable6,21146,993(12,546)24,535
Changes in Unearned Revenue———(2,494)
Changes in Other Operating Activities(32,958)5,3564,098(9,064)
Cash from Operating Activities651,558479,064388,571240,110
Capital Expenditure(6,970)(10,696)(15,294)(4,810)
Proceeds from Sale of Property, Plant & Equipment———26,006
Purchases of Investments(247,355)(647,601)(292,911)(255,208)
Proceeds from Sale of Investments722,248395,574211,296746,127
Payments for Business Acquisitions(1,013,740)——(999,120)
Cash from Investing Activities(545,813)(262,723)(96,909)(487,005)
Issuance of Short-Term Debt———120,000
Repayments of Short-Term Debt———(120,000)
Net Issuance / (Repayments) of Short-Term Debt———0
Issuance of Long-Term Debt1,470,000——250,000
Repayments of Long-Term Debt(763,390)—(13,483)(327,453)
Net Issuance / (Repayments) of Long-Term Debt706,610—(13,483)(77,453)
Issuance of Common Shares21,82931,1397,87914,050
Repurchases of Common Shares(342,372)(250,000)(392,383)(200,002)
Net Issuance / (Repurchases) of Common Shares(320,543)(218,861)(384,504)(185,952)
Other Financing Activities(471,241)——625,776
Cash from Financing Activities(85,174)(218,861)(407,987)362,371
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash20,571(2,520)(116,325)115,476

Quarterly trend

last 8 quarters
QuarterRevenueYoY growthOperating marginOperating income
Q1 2026$377M+42.2%49.0%$185M
Q4 2025$452M+51.6%-20.6%$-93M
Q3 2025$354M+22.1%61.5%$218M
Q2 2025$326M+40.8%62.2%$202M
Q1 2025$265M—53.4%$142M
Q4 2024$298M—58.9%$176M
Q3 2024$290M—56.3%$163M
Q2 2024$231M—50.7%$117M
Revenue by quarter$M
$231M
Q2 '24
$290M
Q3 '24
$298M
Q4 '24
$265M
Q1 '25
$326M
Q2 '25
$354M
Q3 '25
$452M
Q4 '25
$377M
Q1 '26
83.6%
Gross margin
33.6%
Operating margin
22.7%
Net margin
SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated

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