Halozyme Therapeutics Inc., founded in 1998 and headquartered in San Diego, California, develops and commercializes its proprietary ENHANZE enzyme technology to enable subcutaneous delivery of large molecule therapeutics. The company’s revenue is driven by royalties and milestone payments from partnerships with leading pharma companies. Led by CEO Paul Clancy since 2021, Halozyme is expanding its pipeline with new studies in oncology and immunology while strengthening its market position through strategic collaborations.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
1,396,610
1,015,320
829,253
660,116
Cost of Sales
228,774
159,417
192,361
139,304
Gross Profit
1,167,840
855,907
636,892
520,812
Selling, General & Administrative Expenses
207,092
154,335
149,182
143,526
Depreciation & Amortization Expenses
76,662
71,049
73,773
43,148
Research & Development Expenses
81,490
79,048
76,363
66,607
Other Operating Expenses
333,587
—
—
—
Operating Profit
469,006
551,475
337,574
267,531
Interest and Investment Income
21,472
23,752
16,317
1,046
Interest Expense
(18,126)
(18,095)
(18,762)
(16,947)
Non-Operating Income
(5,477)
—
13,200
(2,712)
Total Non-Operating Income
(2,131)
5,657
10,755
(18,613)
Income Before Provision for Income Taxes
466,875
557,132
348,329
248,918
Provision for Income Taxes
149,986
113,041
66,735
46,789
Consolidated Net Income
316,889
444,091
281,594
202,129
Net Income Attributable to Common Shareholders
316,889
444,091
281,594
202,129
Basic EPS
2.64
3.50
2.13
1.48
Diluted EPS
2.56
3.43
2.10
1.44
Basic Weighted Average Shares Outstanding
119,840
126,827
131,927
136,844
Diluted Weighted Average Shares Outstanding
123,904
129,424
134,197
140,608
Shares Outstanding
117,782
123,138
126,770
135,154
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
133,820
115,850
118,370
234,195
Short-Term Investments
9,000
480,224
217,630
128,599
Total Cash and Cash Equivalents
142,820
596,074
336,000
362,794
Accounts Receivable
441,273
308,455
234,210
231,072
Total Trade Receivables
441,273
308,455
234,210
231,072
Inventories
176,475
141,860
127,601
100,123
Other Current Assets
64,639
38,951
48,613
45,024
Total Current Assets
825,207
1,085,340
746,424
739,013
Net Property, Plant & Equipment
82,137
75,035
74,944
75,570
Net Intangible Assets
981,467
401,830
472,879
546,652
Goodwill
580,360
416,821
416,821
409,049
Other Long-Term Assets
56,152
84,451
22,202
71,227
Total Assets
2,525,320
2,063,480
1,733,270
1,841,510
Accounts Payable
20,899
10,249
11,816
17,693
Accrued Expenses
156,193
128,851
100,678
99,762
Current Portion of Long-Term Debt
—
—
—
13,334
Total Current Liabilities
177,092
139,100
112,494
130,789
Long-Term Debt
2,142,630
1,505,800
1,499,250
1,492,770
Other Long-Term Liabilities
156,787
54,758
37,720
48,158
Total Long-Term Liabilities
2,299,420
1,560,560
1,536,970
1,540,920
Total Liabilities
2,476,510
1,699,660
1,649,460
1,671,710
Common Stock
118
123
127
135
Additional Paid-in Capital
12,002
—
2,409
27,368
Accumulated Other Comprehensive Income
(18,092)
3,829
(9,278)
(922)
Retained Earnings
54,786
359,869
90,550
143,217
Total Common Shareholders' Equity
48,814
363,821
83,808
169,798
Total Shareholders' Equity
48,814
363,821
83,808
169,798
Total Liabilities and Shareholders' Equity
2,525,320
2,063,480
1,733,270
1,841,510
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
316,889
444,091
281,594
202,129
Depreciation & Amortization
88,051
81,312
84,856
49,641
Share-Based Compensation Expense
51,565
43,385
36,620
24,397
Other Adjustments
347,309
(447)
24,172
52,388
Changes in Trade Receivables
(128,063)
(74,245)
(3,339)
(83,941)
Changes in Inventories
2,554
(67,381)
(26,884)
(17,481)
Changes in Accounts Payable
6,211
46,993
(12,546)
24,535
Changes in Unearned Revenue
—
—
—
(2,494)
Changes in Other Operating Activities
(32,958)
5,356
4,098
(9,064)
Cash from Operating Activities
651,558
479,064
388,571
240,110
Capital Expenditure
(6,970)
(10,696)
(15,294)
(4,810)
Proceeds from Sale of Property, Plant & Equipment
—
—
—
26,006
Purchases of Investments
(247,355)
(647,601)
(292,911)
(255,208)
Proceeds from Sale of Investments
722,248
395,574
211,296
746,127
Payments for Business Acquisitions
(1,013,740)
—
—
(999,120)
Cash from Investing Activities
(545,813)
(262,723)
(96,909)
(487,005)
Issuance of Short-Term Debt
—
—
—
120,000
Repayments of Short-Term Debt
—
—
—
(120,000)
Net Issuance / (Repayments) of Short-Term Debt
—
—
—
0
Issuance of Long-Term Debt
1,470,000
—
—
250,000
Repayments of Long-Term Debt
(763,390)
—
(13,483)
(327,453)
Net Issuance / (Repayments) of Long-Term Debt
706,610
—
(13,483)
(77,453)
Issuance of Common Shares
21,829
31,139
7,879
14,050
Repurchases of Common Shares
(342,372)
(250,000)
(392,383)
(200,002)
Net Issuance / (Repurchases) of Common Shares
(320,543)
(218,861)
(384,504)
(185,952)
Other Financing Activities
(471,241)
—
—
625,776
Cash from Financing Activities
(85,174)
(218,861)
(407,987)
362,371
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash