Halozyme Therapeutics (HALO) FY2019 results: revenue $196 million, up 29.1% on the year
Halozyme Therapeutics, Inc. (HALO) reported revenue of $196 million for fiscal 2019, the year ended 31 December 2019, up 29.1% on the year before. Net income was -$72 million, and diluted earnings per share $-0.50. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$196 million
+29.1% on the year
FY2012FY2019
Operating margin
-34.5%
-45.7% a year earlier
FY2012FY2019
Net income
-$72 million
FY2012FY2019
Diluted EPS
-$0.50
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
196
152
317
+29.1%
Cost of revenue
45.5
10.1
31.2
+349.3%
Gross profit
150
142
285
+6.2%
Gross margin
76.8%
93.3%
90.2%
Research and development
141
150
151
-6.3%
Selling, general and administrative
77.3
60.8
53.8
+27.1%
Operating income
-67.6
-69.3
81.0
Operating margin
-34.5%
-45.7%
25.6%
Interest expense
11.6
18.0
22.0
-35.6%
Pre-tax income
-72.3
-79.8
61.6
Income tax
-0.0
0.5
-1.4
Effective tax rate
n/a
n/a
-2.2%
Net income
-72.2
-80.3
63.0
Net margin
-36.9%
-52.9%
19.9%
Diluted EPS
-$0.50
-$0.56
$0.45
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-85.4
-49.5
134
Capital expenditure
4.0
4.7
1.4
-13.4%
Free cash flow
-89.5
-54.2
133
Free cash flow margin
-45.6%
-35.7%
41.9%
Cash from investing
-5.5
2.5
-164
Cash from financing
153
-63.8
132
Depreciation and amortisation
4.1
2.4
2.2
+70.4%
Share-based compensation
34.8
35.7
30.7
-2.6%
Buybacks
200
0.0
0.0
Diluted shares, weighted
144m
144m
139m
+0.5%
Shares outstanding at period end
137m
143m
143m
-4.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
91.8
249
208
-63.1%
Debt
403
126
202
+218.6%
Other liabilities
71.5
65.0
109
+10.1%
Total liabilities and equity
566
440
520
+28.5%
Fixed assets
10.9
7.5
3.5
+45.4%
Investments
301
297
300
+1.5%
Cash and equivalents
120
57.9
169
+107.4%
Receivables
59.4
30.0
22.1
+98.1%
Inventory
29.4
22.6
5.1
+29.8%
Other assets
45.0
25.6
19.9
+75.4%
Total assets
566
440
520
+28.5%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.