Biomarin Pharmaceutical Inc. · NASDAQ:BMRN
Biomarin Pharmaceutical — Q1 2024 Earnings Presentation
15 slides from Biomarin Pharmaceutical's earnings presentation, Apr 24, 2024
Slide 1: First Quarter 2024 Earnings
First Quarter 2024 Earnings April 24, 2024 Transforming Lives Through Genetic Discovery
Slide 2: Table of Contents
Business Overview & Highlights 5 Q1 ‘24 Key Financial Metrics 7 Table of Contents 2024 Outlook 9 Non-GAAP Reconciliations 10 2
Slide 3: Forward-looking statements
This non-confidential presentation and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: future financial performance, including the expectations of T
Slide 4: GAAP and Non-GAAP information definitions
This presentation includes both GAAP information and Non-GAAP information. Non-GAAP Income is defined by the company as GAAP Net Income excluding amortization of intangible assets, stock-based compensation expense, and, in certain periods, certain other specified items, as detailed below when applic
Slide 5: Q1 Record Results Driven by Global Demand for VOXZOGO
Q1 Record Results Were Driven by Global Demand for VOXZOGO & Strong Contributions from Other Products VOXZOGO revenues of $153M, increased 74% year-over-year Total Revenues of $649M in Q1 2024 Increased 9%, 13% at Constant Currency(1), Year-over-Year Non-GAAP Diluted EPS grew twice as fast as total
Slide 6: Accelerate and Maximize the VOXZOGO Opportunity
ACCELERATE AND Number of children treated with VOXZOGO increased globally in the quarter, MAXIMIZE THE supported by new prescriptions in the U.S. for children under the age of 5 years VOXZOGO Enrollment in the observational portion of the registrational study with VOXZOGO OPPORTUNITY for hypocho
Slide 7: Q1 2024 Key Financial Metrics
(In millions, except share and percentage data) Total Revenue Non-GAAP Non-GAAP Growth Operating Margin %(1) Diluted EPS(1) $649 $596 23.8% 22.4% $0.71 $0.60 +9% +1.4 ppts +18% Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 7 (1) Refer to slide 4 and the appendix to this presentation for the defini
Slide 8: Maturing Guided Line Items and More Consistent Cadence of Updates
More Consistent Cadence Investor Day 2024 Maturing Guided Line Items and Content of Updates (September 4, NYC) Total Revenues Communicate business updates New corporate strategy, vision and objectives each quarter and long-term aspirations Non-GAAP Operating Margin % Focus on material St
Slide 9: Prior Guidance and Updated Guidance
Prior Guidance Updated Guidance As of February 22, 2024 As of April 24, 2024 (In millions, except per share and % data) Total Revenues $2,700 - $2,800 No Change Non-GAAP Operating Margin %(1) 23% - 24% 24% - 25% Non-GAAP Diluted EPS(1)(2) $2.60 - $2.80 $2.75 to $2.95 9 (1) Refer to slide 4 and the a
Slide 10: Appendix
Appendix Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Slide 11: GAAP Change in Total Revenues at Constant Currency
Three Months Ended March 31, Dollar Percentage GAAP Change in Total Revenues $52.4 9% Less: impact of foreign currency exchange rates on product sales denominated in currencies other than U.S. dollars (22.7) Non-GAAP change in Total Revenues at Constant Currency $75.1 13% 11
Slide 12: GAAP Income from Operations Reconciliation
Three Months Ended March 31, Percent of GAAP Percent of GAAP 2024 2023 Total Revenue Total Revenue GAAP Income from Operations $ 88.5 13.6% $ 62.4 10.5% Adjustments Stock-based compensation expense 58.2 9.0% 53.6 8.9% Amortization of intangible assets 14.3 2.2% 15.7 2.6% Gain on sale of nonfinancial
Slide 13: GAAP Diluted EPS Reconciliation
Three Months Ended March 31, 2024 2023 GAAP Diluted EPS $ 0.46 $ 0.27 Adjustments Stock-based compensation expense 0.29 0.27 Amortization of intangible assets 0.07 0.08 Gain on sale of nonfinancial assets (2) (0.05) - Severance and restructuring costs (3) 0.02 0.01 Loss on investments (4) - 0.06 Inc
Slide 14: Weighted-Average Dilutive Shares Outstanding Reconciliation
Three Months Ended March 31, 2024 2023 GAAP Weighted-Average Dilutive Shares Outstanding 199.3 194.4 Adjustments Common stock issuable under company’s convertible debt (1) 4.4 Non-GAAP Weighted-Average Dilutive Shares Outstanding 199.3 198.8 (1) Common stock issuable under the company’s convertible
Slide 15: First Quarter 2024 Earnings
First Quarter 2024 Earnings April 24, 2024 Transforming Lives Through Genetic Discovery
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