Halozyme Therapeutics (HALO) Q3 FY2023 earnings: revenue $216 million, up 3.4% on the year

Halozyme Therapeutics, Inc. (HALO) reported revenue of $216 million for Q3 FY2023, the quarter ended 30 September 2023, up 3.4% on the same quarter a year earlier. Net income was $82 million, up 32.8% on the year, and diluted earnings per share $0.61. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2023.

Revenue$216 millionup 3.4%

Net income$82 millionup 32.8%

Diluted EPS$0.61

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	216	n/a	n/a	n/a
Cost of revenue	54.8	n/a	n/a	n/a
Gross profit	161	n/a	n/a	n/a
Gross margin	74.6%	n/a	n/a
Research and development	17.3	n/a	n/a	n/a
Selling, general and administrative	35.3	n/a	n/a	n/a
Operating income	88.3	n/a	n/a	n/a
Operating margin	40.9%	n/a	n/a
Interest expense	4.5	n/a	n/a	n/a
Pre-tax income	102	n/a	n/a	n/a
Income tax	19.9	n/a	n/a	n/a
Effective tax rate	19.6%	n/a	n/a
Net income	81.8	n/a	n/a	n/a
Net margin	37.9%	n/a	n/a
Diluted EPS	$0.61	n/a	n/a	n/a

$ million except per share.

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 and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	132	n/a	n/a	n/a
Capital expenditure	2.9	n/a	n/a	n/a
Free cash flow	129	n/a	n/a	n/a
Free cash flow margin	59.9%	n/a	n/a
Cash from investing	-83.5	n/a	n/a	n/a
Cash from financing	4.1	n/a	n/a	n/a
Depreciation and amortisation	2.7	n/a	n/a	n/a
Share-based compensation	9.4	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Diluted shares, weighted	134m	n/a	n/a	n/a
Shares outstanding at period end	132m	n/a	n/a	n/a

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

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	249	n/a	n/a	n/a
Debt	1,498	n/a	n/a	n/a
Other liabilities	146	n/a	n/a	n/a
Total liabilities and equity	1,893	n/a	n/a	n/a
Fixed assets	37.5	n/a	n/a	n/a
Goodwill	417	n/a	n/a	n/a
Intangible assets	491	n/a	n/a	n/a
Securities held for sale or to maturity	209	n/a	n/a	n/a
Cash and equivalents	274	n/a	n/a	n/a
Receivables	214	n/a	n/a	n/a
Inventory	129	n/a	n/a	n/a
Other assets	122	n/a	n/a	n/a
Total assets	1,893	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	216	230	196	231	290	298	265	326	354	452	377	481
Cost of revenue	54.8	52.3	28.3	39.6	49.4	42.1	48.4	46.4	55.2	78.8	79.2	79.2
Gross profit	161	178	168	192	241	256	216	279	299	373	297	402
Gross margin	75%	77%	86%	83%	83%	86%	82%	86%	84%	83%	79%	84%
R&D	17.3	21.3	19.1	21.0	18.5	20.4	14.8	17.5	17.3	31.9	25.6	27.7
SG&A	35.3	37.6	35.1	35.7	41.2	42.2	42.4	41.6	46.1	77.0	57.9	57.0
Operating income	88.3	101	95.5	117	163	176	142	202	218	-92.9	185	288
Operating margin	41%	44%	49%	51%	56%	59%	53%	62%	62%	-21%	49%	60%
Interest expense	4.5	5.2	4.5	4.5	4.5	4.5	4.5	4.4	4.3	4.9	5.5	5.6
Pre-tax income	102	101	96.0	118	165	178	144	205	219	-101	180	285
Tax rate	20%	16%	20%	21%	17%	23%	18%	19%	20%	n/a	17%	19%
Net income	81.8	85.4	76.8	93.2	137	137	118	165	175	-142	150	230
Net margin	38%	37%	39%	40%	47%	46%	45%	51%	49%	-31%	40%	48%
Diluted EPS	$0.61	$0.65	$0.60	$0.72	$1.05	$1.06	$0.93	$1.33	$1.43	-$1.20	$1.22	$1.90
Operating cash flow	132	102	129	55.8	115	178	154	99.7	179	219	180	241
Capital expenditure	2.9	2.6	3.5	2.6	1.5	3.1	0.9	1.6	3.0	1.4	3.7	4.2
Free cash flow	129	99.8	126	53.2	114	175	153	98.1	176	218	176	237
Buybacks	0.0	252	0.0	0.0	0.0	250	n/a	n/a	38.9	n/a	n/a	n/a
Shares outstanding	132m	127m	127m	127m	127m	123m	123m	118m	118m	118m	119m	114m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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.

Source

10-Q for the period ended 30 September 2023, filed 6 November 2023, accession 0001159036-23-000057: the filing on EDGAR. All of Halozyme Therapeutics, Inc.'s filings: EDGAR company page.

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