Halozyme Therapeutics Inc. (HALO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.82	$2.28	+25.3%	—	$481M	—
Q1 26	$1.52	$1.6	+5.3%	—	$376.7M	—
Q4 25	$2.2	-$0.24	-110.9%	—	$451.8M	—
Q3 25	$1.63	$1.72	+5.5%	—	$354.3M	—
Q2 25	$1.27	$1.54	+21.3%	—	$325.7M	—
Q1 25	$0.95	$1.11	+16.8%	—	$264.9M	—
Q4 24	$1.16	$1.26	+8.6%	—	$298M	—
Q3 24	$1	$1.27	+27.0%	—	$290.1M	—
Q2 24	$0.76	$0.91	+19.7%	—	$231.4M	—
Q1 24	$0.7	$0.79	+12.9%	—	$195.9M	—
Q4 23	$0.83	$0.82	-1.2%	—	$230M	—
Q3 23	$0.71	$0.75	+5.6%	—	$216M	—
Q2 23	$0.63	$0.74	+17.5%	—	$221M	—
Q1 23	$0.48	$0.47	-2.1%	—	$162.1M	—
Q4 22	$0.47	$0.48	+2.1%	—	$181.5M	—
Q3 22	$0.51	$0.74	+45.1%	—	$209M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.64	—	—	$1.4B	—
FY24	—	$3.5	—	—	$1B	—
FY23	—	$2.13	—	—	$829.3M	—
FY22	—	$1.48	—	—	$660.1M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$146.7M	$316.6M	$151.9M	$196M	$267.6M	$443.3M	$660.1M	$829.3M	$1B	$1.4B
YoY change	+8.61%	+115.8%	-52%	+29.1%	+36.5%	+65.7%	+48.9%	+25.6%	+22.4%	+37.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	146.7M	316.6M	151.9M	196M	267.6M	443.3M	660.1M	829.3M	1B	1.4B
Cost of revenue	33.2M	31.2M	10.1M	45.5M	43.4M	81.4M	139.3M	192.4M	159.4M	228.8M
Gross profit	113.5M	285.5M	141.7M	150.4M	224.2M	361.9M	520.8M	636.9M	855.9M	1.2B
Gross margin	77.4%	90.2%	93.3%	76.8%	83.8%	81.6%	78.9%	76.8%	84.3%	83.6%
Research & development	150.8M	150.6M	150.3M	140.8M	34.2M	35.7M	66.6M	76.4M	79M	81.5M
Selling, general & administrative	45.9M	53.8M	60.8M	77.3M	45.7M	50.3M	143.5M	149.2M	154.3M	207.1M
Operating expenses	196.7M	204.5M	211.1M	218.1M	80M	86M	210.1M	225.5M	233.4M	288.6M
Operating income	-83.2M	81M	-69.3M	-67.6M	144.3M	275.9M	267.5M	337.6M	551.5M	802.6M
Operating margin	-56.7%	25.6%	-45.7%	-34.5%	53.9%	62.2%	40.5%	40.7%	54.3%	57.5%
Non-operating income, net	1.3M	2.6M	7.6M	7M	5.4M	-19.9M	-1.7M	29.5M	23.8M	-317.6M
Pretax income	-101.9M	61.6M	-79.8M	-72.3M	129.3M	248.5M	248.9M	348.3M	557.1M	466.9M
Income tax	1.2M	-1.4M	537K	-11K	217K	-154.2M	46.8M	66.7M	113M	150M
Net income	-103M	63M	-80.3M	-72.2M	129.1M	402.7M	202.1M	281.6M	444.1M	316.9M
Net margin	-70.2%	19.9%	-52.9%	-36.9%	48.2%	90.8%	30.6%	34%	43.7%	22.7%
EBITDA	-80.8M	83.2M	-66.9M	-63.5M	147.5M	278.9M	317.2M	422.4M	632.8M	890.6M
EPS	-0.81	0.46	-0.56	-0.5	0.95	2.86	1.48	2.13	3.5	2.64
Diluted EPS	-0.81	0.45	-0.56	-0.5	0.91	2.74	1.44	2.1	3.43	2.56

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	216M	230M	195.9M	231.4M	290.1M	298M	264.9M	325.7M	354.3M	451.8M	376.7M	481M
Cost of revenue	54.8M	52.3M	28.3M	39.6M	49.4M	42.1M	48.4M	46.4M	55.2M	78.8M	79.2M	79.2M
Gross profit	161.2M	177.7M	167.6M	191.7M	240.7M	256M	216.5M	279.4M	299M	373M	297.5M	401.8M
Gross margin	74.6%	77.3%	85.5%	82.9%	83%	85.9%	81.7%	85.8%	84.4%	82.6%	79%	83.5%
Research & development	17.3M	21.3M	19.1M	21M	18.5M	20.4M	14.8M	17.5M	17.3M	31.9M	25.6M	27.7M
Selling, general & administrative	35.3M	37.6M	35.1M	35.7M	41.2M	42.2M	42.4M	41.6M	46.1M	77M	57.9M	57M
Operating expenses	52.6M	58.9M	54.2M	56.7M	59.7M	62.7M	57.2M	59.2M	63.3M	108.9M	83.4M	84.7M
Operating income	88.3M	101M	95.5M	117.2M	163.2M	175.5M	141.5M	202.4M	217.9M	240.7M	184.5M	287.7M
Operating margin	40.9%	43.9%	48.8%	50.7%	56.3%	58.9%	53.4%	62.2%	61.5%	53.3%	49%	59.8%
Non-operating income, net	18M	5.4M	5M	5M	6.5M	7.3M	6.8M	6.9M	5.3M	-336.6M	1.3M	2.8M
Pretax income	101.8M	101.2M	96M	117.7M	165.1M	178.2M	143.8M	204.9M	219M	-100.8M	180.3M	284.9M
Income tax	19.9M	15.8M	19.2M	24.5M	28.1M	41.2M	25.7M	39.8M	43.7M	40.7M	30.3M	55M
Net income	81.8M	85.4M	76.8M	93.2M	137M	137M	118.1M	165.2M	175.2M	-141.6M	150M	229.9M
Net margin	37.9%	37.1%	39.2%	40.3%	47.2%	46%	44.6%	50.7%	49.5%	-31.3%	39.8%	47.8%
EBITDA	111.4M	121.7M	115.7M	137.6M	183.6M	195.9M	162M	222.9M	238.3M	267.4M	218.3M	321.6M
EPS	0.62	—	0.61	0.73	1.08	1.08	0.96	1.36	1.49	-1.2	1.27	1.96
Diluted EPS	0.61	—	0.6	0.72	1.05	1.06	0.93	1.33	1.43	-1.2	1.22	1.9

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.3B	2.8B	2.1B	2.6B	5.8B	5.7B	7.8B	4.9B	6.1B	8.1B	12.8B
Enterprise value	1.3B	2.5B	1.9B	2.5B	5.8B	5.8B	8.9B	6B	7B	10.1B	14.9B
Shares outstanding	128M	136.4M	143.6M	144.3M	136.2M	140.6M	136.8M	131.9M	126.8M	119.8M	119.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	43.9	—	—	45.1	14	38.5	17.3	13.7	25.5	33.1
P/S	8.62	8.73	13.8	13.1	21.7	12.8	11.8	5.88	5.97	5.77	7.69
P/B	-38.9	13.3	8.44	27.9	38.5	28.7	45.9	58.2	16.7	165.2	89.6
EV/EBITDA	-15.8	30	-28	-40	39.6	20.8	28.2	14.3	11	11.3	14.2
EV/Sales	8.7	7.89	12.3	13	21.8	13.1	13.5	7.28	6.87	7.21	8.94
Earnings yield	—	2.28%	—	—	2.22%	7.12%	2.6%	5.78%	7.32%	3.93%	3.02%
FCF yield	-4.23%	4.8%	-2.58%	-3.5%	0.91%	5.27%	3.02%	7.66%	7.72%	4.42%	2.63%
PEG	—	—	—	—	—	—	—	—	—	—	0.75

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	77.4%	90.2%	93.3%	76.8%	83.8%	81.6%	78.9%	76.8%	84.3%	83.6%	83.5%
Operating margin	-56.7%	25.6%	-45.7%	-34.5%	53.9%	62.2%	40.5%	40.7%	54.3%	57.5%	59.8%
Net margin	-70.2%	19.9%	-52.9%	-36.9%	48.2%	90.8%	30.6%	34%	43.7%	22.7%	24.9%
ROE	317.2%	30.2%	-32.3%	-78.7%	85.5%	204.5%	119%	336%	122.1%	649.2%	173.7%
ROA	-39.4%	12.1%	-18.2%	-12.8%	22.3%	36.5%	11%	16.2%	21.5%	38.4%	25.5%
ROIC	399.3%	-138.5%	-334.3%	-92.5%	79.9%	82.9%	16.5%	21.9%	34.5%	26.6%	32%
Return on tangible assets	-39.4%	12.1%	-18.2%	-12.8%	22.3%	36.5%	-289.2%	-610.4%	104.2%	-13.8%	-96%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.7	3.89	2.86	6.35	1.32	7.91	5.65	6.64	7.8	4.66	2.71
Quick ratio	4.43	3.85	2.71	6	1.17	7.45	4.88	5.5	6.78	3.66	2.31
Debt / equity	-6.67	0.97	0.51	4.39	2.63	4.45	8.87	17.9	4.14	43.9	15.2
Debt / assets	0.83	0.39	0.29	0.71	0.68	0.79	0.82	0.86	0.73	2.6	0.83
Net debt / EBITDA	-0.14	-3.21	3.41	0.29	0.2	0.49	3.6	2.75	1.44	2.25	1.83
Interest coverage	-4.1	3.8	-3.42	-5.21	7.35	34	15.7	19.6	31.8	26.8	29.7
Effective tax rate	0%	0%	0%	0%	0.17%	0%	18.8%	19.2%	20.3%	32.1%	29.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.15	2.32	1.06	1.36	1.96	3.15	4.82	6.29	8.01	11.7	14.2
EPS (basic)	-0.81	0.46	-0.56	-0.5	0.95	2.86	1.48	2.13	3.5	2.64	2.64
EPS (diluted)	-0.81	0.45	-0.56	-0.5	0.91	2.74	1.44	2.1	3.43	2.56	3.41
Book value per share	-0.25	1.53	1.73	0.64	1.11	1.4	1.24	0.64	2.87	0.41	1.26
FCF per share	-0.42	0.97	-0.38	-0.62	0.39	2.12	1.72	2.83	3.69	2.98	4.28
Cash per share	1.6	3.44	2.47	2.92	2.7	5.27	2.65	2.55	4.7	1.19	2.04
Capex per share	0.02	0.01	0.03	0.03	0.01	0.01	0.04	0.12	0.08	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.14%	0.43%	3.07%	2.06%	0.53%	0.33%	0.73%	1.84%	1.05%	—	—
Capex / operating cash flow	-4.55%	1.16%	-10%	-5.65%	1.53%	0.47%	2.17%	3.8%	2.45%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$216M	$230M	$195.9M	$231.4M	$290.1M	$298M	$264.9M	$325.7M	$354.3M	$451.8M	$376.7M	$481M
YoY change	+3.38%	+26.7%	+20.8%	+4.67%	+34.3%	+29.5%	+35.2%	+40.8%	+22.1%	+51.6%	+42.2%	+47.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	205M	469.2M	354.5M	421.3M	368M	740.9M	362.8M	336M	596.1M	142.8M
Receivables	16.2M	22.7M	30.6M	60.2M	98.7M	92.1M	188.9M	240M	296.9M	434.3M
Inventory	14.6M	5.1M	22.6M	29.4M	60.7M	53.9M	100.1M	127.6M	141.9M	176.5M
Total current assets	256.5M	510.4M	427.8M	543.4M	554.8M	926.3M	739M	746.4M	1.1B	825.2M
Property, plant & equipment	4.3M	3.5M	7.5M	10.9M	10.6M	8.8M	75.6M	74.9M	75M	82.1M
Goodwill & intangibles	—	—	—	—	—	0	1.9B	1.8B	1.6B	3.1B
Total assets	261.5M	519.9M	440.2M	565.9M	579.9M	1.1B	1.8B	1.7B	2.1B	825.2M
Accounts payable	3.6M	7.9M	4.1M	6.4M	1.9M	1.5M	17.7M	11.8M	10.2M	20.9M
Short-term debt	17.4M	77.2M	91.5M	19.5M	397.2M	89.4M	13.3M	—	—	—
Total current liabilities	54.6M	131.3M	149.4M	85.6M	421.4M	117.1M	130.8M	112.5M	139.1M	177.1M
Long-term debt	199.2M	125.1M	34.9M	383M	—	787.3M	1.5B	1.5B	1.5B	2.1B
Total liabilities	294M	311.6M	191.4M	474.1M	428.9M	907.5M	1.7B	1.6B	1.7B	2.5B
Shareholders' equity	-32.5M	208.4M	248.9M	91.8M	151M	197M	169.8M	83.8M	363.8M	48.8M
Total debt	216.6M	202.4M	126.4M	402.6M	397.2M	876.7M	1.5B	1.5B	1.5B	2.1B
Net debt	149.9M	33.6M	68.4M	282.4M	249.5M	758M	1.3B	1.4B	1.4B	2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	483.3M	336M	463.5M	529M	666.3M	596.1M	747.9M	548.2M	702M	142.8M	318.6M	231M
Receivables	219.9M	240M	191.5M	217M	279.7M	296.9M	311M	322.4M	351.3M	434.3M	468.2M	462M
Inventory	128.9M	127.6M	168.5M	159.3M	131.4M	141.9M	164.9M	181.5M	185.8M	176.5M	155.5M	137.1M
Total current assets	879M	746.4M	873.6M	987.8M	1.1B	1.1B	1.3B	1.1B	1.3B	825.2M	1B	933M
Property, plant & equipment	74.7M	74.9M	78.1M	75M	74.5M	75M	72.8M	71.5M	71.4M	82.1M	82.2M	84.3M
Goodwill & intangibles	1.8B	1.8B	1.7B	1.7B	1.7B	1.6B	1.6B	1.6B	1.5B	3.1B	3.1B	3B
Total assets	1.9B	1.7B	1.8B	2B	2.1B	2.1B	2.2B	2.1B	2.2B	2.5B	2.7B	2.6B
Accounts payable	19.3M	11.8M	13.3M	15.4M	12.4M	10.2M	20.1M	18.7M	15.4M	20.9M	14.1M	23.6M
Short-term debt	—	—	—	—	—	—	—	—	710.7M	—	208.7M	209M
Total current liabilities	115.2M	112.5M	131.6M	133.4M	108.8M	139.1M	150.4M	134.3M	837.2M	177.1M	363.2M	344.4M
Long-term debt	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	800.1M	2.1B	1.9B	1.9B
Total liabilities	1.6B	1.6B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	2.5B	2.5B	2.4B
Shareholders' equity	249.2M	83.8M	177.8M	289.4M	452.7M	363.8M	482.3M	332.7M	503.9M	48.8M	219.6M	143.5M
Total debt	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	2.1B	2.1B	2.1B
Net debt	1.2B	1.4B	1.3B	1.3B	1.3B	1.4B	1.3B	1.4B	1.1B	2B	1.8B	2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-103M	63M	-80.3M	-72.2M	129.1M	402.7M	202.1M	281.6M	444.1M	316.9M
Depreciation & amortization	2.4M	2.2M	2.4M	4.1M	3.3M	3M	49.6M	84.9M	81.3M	88.1M
Stock-based compensation	25.6M	30.7M	35.7M	34.8M	17.2M	20.8M	24.4M	36.6M	43.4M	51.6M
Change in working capital	11.6M	3M	-5.9M	-36.2M	-69.7M	14.1M	-101.4M	-30.2M	-141.6M	-125.5M
Operating cash flow	-69M	116.6M	-46.4M	-71.5M	93.5M	307.6M	221.7M	402.7M	436.1M	651.6M
Capital expenditure	-3.1M	-1.4M	-4.7M	-4M	-1.4M	-1.5M	-4.8M	-15.3M	-10.7M	—
Investing cash flow	-76.8M	-163.7M	2.5M	-5.5M	78.4M	-406.3M	-487M	-96.9M	-262.7M	-251.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	0	0	-200M	-150.1M	-350.1M	-200M	-402.4M	-250M	-342.4M
Financing cash flow	148.8M	118.9M	-77.5M	139M	-169.7M	65.3M	348.3M	-415.9M	-250M	-107M
Net change in cash	3M	71.8M	-121.4M	61.9M	2.2M	-33.4M	83M	-110M	-76.6M	293.5M
Free cash flow	-53.5M	132.7M	-54.2M	-89.5M	53M	298M	235.3M	373.3M	468.4M	356.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	81.8M	85.4M	76.8M	93.2M	137M	137M	118.1M	165.2M	175.2M	-141.6M	150M	229.9M
Depreciation & amortization	23.1M	20.7M	20.2M	20.3M	20.4M	20.4M	20.4M	20.5M	20.4M	26.7M	33.7M	34M
Stock-based compensation	9.4M	9.7M	9.9M	9.5M	12.6M	11.5M	10.7M	12.2M	12.2M	16.6M	16.6M	17.7M
Change in working capital	32.5M	-15.4M	-1.9M	-40M	-69.2M	-30.4M	3.2M	-26.3M	-30.8M	-71.7M	7.8M	20.5M
Operating cash flow	144.3M	115.4M	108.3M	99.4M	103.2M	125.2M	151.7M	99.7M	178.6M	219M	180.1M	240.9M
Capital expenditure	-2.9M	-2.6M	-3.5M	-2.6M	-1.5M	-3.1M	-950K	—	—	—	—	—
Investing cash flow	-83.5M	-8.3M	-82.7M	-42M	-167.5M	29.5M	-90.4M	86.4M	204.6M	273.4M	864K	-58.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	-252.3M	0	0	0	-250M	—	—	-38.9M	0	—	—
Financing cash flow	0	-252.3M	0	0	0	-250M	—	—	-38.9M	0	—	—
Net change in cash	60.9M	-145.2M	25.6M	57.4M	-64.3M	-95.3M	61.3M	186.1M	344.4M	492.4M	180.9M	182.4M
Free cash flow	129.5M	99.8M	125.9M	53.2M	113.9M	175.4M	153.3M	98.1M	175.6M	-70.2M	176.3M	236.7M

Halozyme Therapeutics Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement