Biomarin Pharmaceutical Inc. · NASDAQ:BMRN
Biomarin Pharmaceutical — Q3 2024 Earnings Presentation
14 slides from Biomarin Pharmaceutical's earnings presentation, Oct 29, 2024
Slide 1: Third Quarter 2024 Earnings
Third Quarter 2024 Earnings October 29, 2024
Slide 2: Table of Contents
Table of Contents ● Business Overview & Highlights ● Q3 & YTD 2024 Key Financial Metrics ● Guidance & Outlook ● Non-GAAP Reconciliations 2
Slide 3: Forward-Looking Statements
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, incl
Slide 4: Non-GAAP Financial Measures
Non-GAAP Financial Measures 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, a
Slide 5: During Q3'24, BioMarin executed on its new corporate strategy
During Q3’24, BioMarin executed on its new corporate strategy, $746M +28% delivering strong Total revenue growth and Revenues Enzyme Therapies(1) Q3’24 VOXZOGO profitability expansion; Other full year guidance raised at mid-point $190M $509M 27.7% $0.91 +54% +27% +11.5 ppts +98% VOXZOGO Enzyme Non-G
Slide 6: Execution on New Corporate Strategy in the Third Quarter 2024
Execution on New Corporate Strategy in the Third Quarter 2024 • Phase 3 registration-enabling study with VOXZOGO in hypochondroplasia advanced and expected to complete enrollment in 1H’25 INNOVATION • Four additional new indications with VOXZOGO underway and BMN 333 on track for initiation of first-
Slide 7: Third Quarter 2024 Key Financial Metrics
Third Quarter 2024 Key Financial Metrics (In millions, except share and percentage data) Total Revenue Non-GAAP Non-GAAP Growth Operating Margin %(1) Diluted EPS(1) $746 27.7% $0.91 $581 16.2% $0.46 +28% +11.5 ppts +98% Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 (1) Refer to slide 4 and the app
Slide 8: Third Quarter Year-to-date 2024 Key Financial Metrics
Third Quarter Year-to-date 2024 Key Financial Metrics (In millions, except share and percentage data) Total Revenue Non-GAAP Non-GAAP Growth Operating Margin %(1) Diluted EPS(1) $2,107 27.7% $2.60 $1,773 20.1% $1.60 +19% +7.6 ppts +63% Q3 YTD 2023 Q3 YTD 2024 Q3 YTD 2023 Q4 YTD 2024 Q3 YTD 2023 Q3 Y
Slide 9: Updated Guidance for 2024
Updated Guidance for 2024 Prior Guidance Updated Guidance(3) As of August 5, 2024 As of October 29, 2024 (In millions, except per share and % data) Total Revenues $2,750 - $2,825 $2,790 - $2,825 Non-GAAP Operating Margin %(1) 26% - 27% 26.5% - 27.5% Non-GAAP Diluted EPS(1)(2) $3.10 - $3.25 $3.25 - $
Slide 10: BioMarin Reaffirms Long-term Outlook Provided September 4, 2024
BioMarin Reaffirms Long-term Outlook Provided September 4, 2024 Top Quartile Biopharma Doubling Non-GAAP Optimized Cash Flow Prioritized Innovation Revenue Growth Operating Margin(1) & Capital Allocation TARGETING: TARGETING: TARGETING: TARGETING: ~$4B Revenue in 2027 40%+ Non-GAAP Operating 7 Indic
Slide 11: Appendix
Appendix Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Slide 12: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information(1) Three Months Ended Nine Months Ended September 30, September 30, Percent Percent Percent Percent of GAAP of GAAP of GAAP of GAAP Total Total Total Total 2024 Revenue 2023 Revenue 2024 Revenue 2023 Revenue GAAP Income from O
Slide 13: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information(1) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 GAAP Diluted EPS $ 0.55 $ 0.21 $ 1.56 $ 0.77 Adjustments Stock-based compensation expense 0.22 0.24 0.76 0.76 Amortization of intangible a
Slide 14: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information(1) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 GAAP Weighted-Average Diluted Shares Outstanding 197.1 191.2 196.7 195.0 Adjustments Common stock issuable under the company’s convertible
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