Halozyme Therapeutics, Inc. (NASDAQ:HALO) – Halozyme’s fourth-quarter earnings beat consensus despite lower product sales and revenue growth

Halozyme Therapeutics Inc (NASDAQ: HALO) reported fourth-quarter revenue of $102 million, up from $121.7 million a year ago, beating consensus of $100.32 million.

  • The decrease was primarily due to lower revenue from the collaboration agreement and product sales, partially offset by higher royalty revenue attributable to subcutaneous Darzalex (daratumumab).
  • Fourth quarter revenue included $62.6 million in royalties.
  • Adjusted EPS of $0.42 beat the consensus of $0.41.
  • The company reported operating profit of $56.5 million, down from $77.6 million a year ago.
  • “In 2022, we look forward to building on the momentum of 2021 and expect 50% growth in our high-margin recurring royalty revenue, driven by increased adoption of Wave 2 products. We plan to expand and Further maturation of our pipeline, with 4 new targets entering Phase 1 development and at least 5 products moving into Phase 2 or Phase 3 development,” said Helen Torley, President and CEO.
  • Guidance for Exercise 22: Halozyme forecasts revenue of $530 million to $560 million (consensus $554.20 million) and expects royalty revenue to grow approximately 50% year-over-year to approximately $300 million dollars.
  • He expects adjusted EPS of $2.05 to $2.20, compared to the consensus estimate of $2.18.
  • Halozyme expects operating income of $350 million to $380 million, up 27% to 38% year-on-year, representing a margin of more than 65%.
  • Price Action: HALO shares closed at $32.79 on Tuesday.

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