Halozyme Therapeutics (HALO) Q4 FY2021 earnings: revenue $102 million, down 16.2% on the year

Halozyme Therapeutics, Inc. (HALO) reported revenue of $102 million for Q4 FY2021, the quarter ended 31 December 2021, down 16.2% on the same quarter a year earlier. Net income was $67 million, down 8.7% on the year, and diluted earnings per share $0.45. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.

Revenue

$102 million

-16.2% on the year · -11.9% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

55.4%

63.8% a year earlier

Q1 FY2020Q4 FY2021

Net income

$67 million

-8.7% on the year · -69.2% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.45

-10.0% on the year · -69.6% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	102	116	122	-11.9%	-16.2%
Cost of revenue	21.6	n/a	n/a
Gross profit	80.4	n/a	n/a
Gross margin	78.8%	n/a	n/a
Research and development	10.1	n/a	n/a
Selling, general and administrative	13.8	n/a	n/a
Operating income	56.5	75.6	77.6	-25.2%	-27.2%
Operating margin	55.4%	65.3%	63.8%
Interest expense	2.1	n/a	n/a
Pre-tax income	54.8	n/a	n/a
Income tax	-12.0	n/a	n/a
Effective tax rate	-21.8%	n/a	n/a
Net income	66.8	217	73.2	-69.2%	-8.7%
Net margin	65.5%	n/a	n/a
Diluted EPS	$0.45	$1.48	$0.50	-69.6%	-10.0%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	82.5	n/a	n/a
Capital expenditure	0.2	n/a	n/a
Free cash flow	82.4	n/a	n/a
Free cash flow margin	80.7%	n/a	n/a
Cash from investing	-299	n/a	n/a
Cash from financing	-156	n/a	n/a
Depreciation and amortisation	0.8	0.7	0.8	+8.4%	-8.2%
Share-based compensation	5.1	n/a	n/a
Buybacks	160	n/a	n/a
Diluted shares, weighted	147m	147m	145m	+0.1%	+1.2%
Shares outstanding at period end	137m	141m	135m	-2.5%	+1.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	197	282	151	-30.1%	+30.4%
Debt	877	876	397	+0.1%	+120.7%
Other liabilities	30.8	n/a	n/a
Total liabilities and equity	1,104	n/a	n/a
Fixed assets	6.8	n/a	n/a
Goodwill	0.0	n/a	n/a
Intangible assets	0.0	n/a	n/a
Investments	622	n/a	n/a
Cash and equivalents	119	492	148	-75.9%	-19.6%
Receivables	91.0	n/a	n/a
Inventory	53.9	n/a	n/a
Other assets	212	n/a	n/a
Total assets	1,104	n/a	n/a

Questions

What was Halozyme Therapeutics' revenue in Q4 FY2021?

Halozyme Therapeutics (HALO) reported revenue of $102 million for Q4 FY2021, the quarter ended 31 December 2021, down 16.2% on the same quarter a year earlier.

How much did Halozyme Therapeutics earn in Q4 FY2021?

Net income for Q4 FY2021 was $67 million, down 8.7% on the year, and diluted earnings per share $0.45.

When did Halozyme Therapeutics report Q4 FY2021 results?

Halozyme Therapeutics filed its 10-K for the year that ended with the quarter on 22 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	102	117	152	209	181	162	221	216	230	196	231	290	298	265	326	354	452	377	481	493
Cost of revenue	21.6	15.9	33.9	47.3	42.1	35.2	50.1	54.8	52.3	28.3	39.6	49.4	42.1	48.4	46.4	55.2	78.8	79.2	79.2	82.5
Gross profit	80.4	101	118	162	139	127	171	161	178	168	192	241	256	216	279	299	373	297	402	410
Gross margin	79%	86%	78%	77%	77%	78%	77%	75%	77%	86%	83%	83%	86%	82%	86%	84%	83%	79%	84%	83%
R&D	10.1	11.9	15.5	16.7	22.6	18.0	19.7	17.3	21.3	19.1	21.0	18.5	20.4	14.8	17.5	17.3	31.9	25.6	27.7	27.8
SG&A	13.8	13.8	57.5	34.5	37.7	37.4	38.9	35.3	37.6	35.1	35.7	41.2	42.2	42.4	41.6	46.1	77.0	57.9	57.0	58.2
Operating income	56.5	75.7	34.1	83.3	74.5	53.8	94.5	88.3	101	95.5	117	163	176	142	202	218	-92.9	185	288	295
Operating margin	55%	65%	22%	40%	41%	33%	43%	41%	44%	49%	51%	56%	59%	53%	62%	62%	-21%	49%	60%	60%
Interest expense	2.1	1.8	3.1	7.5	4.6	4.5	4.5	4.5	5.2	4.5	4.5	4.5	4.5	4.5	4.4	4.3	4.9	5.5	5.6	6.0
Pre-tax income	54.8	74.4	30.0	73.7	70.8	52.2	93.2	102	101	96.0	118	165	178	144	205	219	-101	180	285	291
Tax rate	-22%	19%	24%	16%	18%	24%	20%	20%	16%	20%	21%	17%	23%	18%	19%	20%	n/a	17%	19%	15%
Net income	66.8	60.1	22.7	61.6	57.7	39.6	74.8	81.8	85.4	76.8	93.2	137	137	118	165	175	-142	150	230	247
Net margin	65%	51%	15%	29%	32%	24%	34%	38%	37%	39%	40%	47%	46%	45%	51%	49%	-31%	40%	48%	50%
Diluted EPS	$0.45	$0.43	$0.16	$0.44	$0.42	$0.29	$0.56	$0.61	$0.65	$0.60	$0.72	$1.05	$1.06	$0.93	$1.33	$1.43	-$1.20	$1.22	$1.90	$2.01
Operating cash flow	82.5	47.8	40.2	69.6	82.5	87.0	66.8	132	102	129	55.8	115	178	154	99.7	179	219	180	241	258
Capital expenditure	0.2	0.5	1.0	1.0	2.3	11.4	n/a	2.9	2.6	3.5	2.6	1.5	3.1	0.9	1.6	3.0	1.4	3.7	4.2	3.0
Free cash flow	82.4	47.3	39.3	68.6	80.1	75.6	n/a	129	99.8	126	53.2	114	175	153	98.1	176	218	176	237	255
Buybacks	160	0.0	0.0	200	0.0	150	0.0	0.0	252	0.0	0.0	0.0	250	n/a	n/a	38.9	n/a	n/a	n/a	67.3
Shares outstanding	137m	138m	138m	135m	135m	132m	132m	132m	127m	127m	127m	127m	123m	123m	118m	118m	118m	119m	114m	114m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 22 February 2022: the filing.