Biomarin Pharmaceutical Inc. · NASDAQ:BMRN
Biomarin Pharmaceutical — FY2022 Earnings Presentation
13 slides from Biomarin Pharmaceutical's earnings presentation, Feb 27, 2023
Slide 1: Fourth Quarter and Full Year 2022 Earnings
Fourth Quarter and Full Year 2022 Earnings Transforming Lives Through February 27, 2023 Genetic Discovery
Slide 2: Table of Contents
Business Overview & Highlights 5 2022 Key Financial Metrics 7 Table of Contents 2023 Outlook 10 Non-GAAP Reconciliations 11 2
Slide 3: Forward-Looking Statements
This non-confidential presentation contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements regarding expectations for results of operations and financial guidance for the full-year 2023 and BioMarin’s clin
Slide 4: Non-GAAP Information
This presentation includes both GAAP information and Non-GAAP information. For the 2022 and 2021 periods presented, Non-GAAP Income is defined as GAAP Net Income (Loss) excluding net interest income (expense), provision for (benefit from) income taxes, depreciation expense, amortization expense, sto
Slide 5: Solid, Profitable, & Growing Base Business
End to End Business Partnership Transform partnership “IRA-proof” Solid, Profitable, to business mindset with & Growing Base Business finance acumen ▪ Anchored by durable enzyme-based therapies producing over $2B of revenue and positive cash flows. Steady revenue growth across the portfolio ▪ High b
Slide 6: BioMarin Achieves Record $2.1 Billion in Total Revenues for Full Year 2022
BioMarin Achieves Record $2.1 Billion in Total Revenues for Full Year 2022 Full year sales increased 20%, excluding KUVAN®, and contribute to positive net income for the year Rapid Patient Uptake and Commercial Execution Drives 2022 VOXZOGO® Sales of $169M Expect successful launch execution to conti
Slide 7: Q4 2022 Key Financial Metrics
(In millions, except percentage data) Reported Revenue Revenue Growth1 Operating Margin GAAP Net Income Growth Excluding KUVAN Expansion (Loss) $538 ($0) $450 $484 $381 (4.6%) +19% +27% +10 ppts +$58M ($58) (14.6%) Q4 2021 Q4 2022 Q4 2021 Q4 2022 Q4 2021 Q4 2022 Q4 2021 Q4 2022 7 1 Includes total re
Slide 8: Full Year 2022 Key Financial Metrics
(In millions, except percentage data) Reported Revenue Revenue Growth1 Operating Margin GAAP Net Income Growth Excluding KUVAN Expansion (Loss) $2,096 7.1% $142 $1,846 $1,868 $1,561 +14% +20% +11.6 ppts +3.2X (4.5%) ($64) FY 2021 FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 8 1 Includes t
Slide 9: 2022 Actuals vs. Guidance
(In millions, except per share and percentage data) 2022 Actuals 2022 Guidance1 Vs. Guidance VIMIZIM® $664 $655 - $700 NAGLAZYME® $444 $415 - $450 PALYNZIQ® $255 $250 - $275 KUVAN® $228 $210 - $235 BRINEURA® $154 $145 - $160 VOXZOGO® $169 $140 - $170 Total Revenues $2,096 $2,060 - $2,160 Cost of Sal
Slide 10: 2023 Guidance
(In millions, except per share and percentage data) 2022 Actuals 2023 Guidance1 Enzyme Products2 $1,645 $1,700 - $1,850 ROCTAVIAN™ -- $100 - $200 VOXZOGO® $169 $330 - $380 Total Revenues $2,096 $2,375 - $2,500 Gross Margin % 76.9% 77.5% - 79.0% R&D % of Revenue 31% 30% - 32% SG&A % of Revenue 41% 36
Slide 11: Q4 2022 and FY 2022 Non-GAAP Reconciliation
(In millions) Q4 2022 FY 2022 Adjustments Adjustments Stock-Based Stock-Based Interest, Compensation, Interest, Compensation, Taxes, Contingent Taxes, Contingent Depreciation Consideration Depreciation Consideration GAAP and and Other GAAP and and Other Reported Amortization Adjustments1 Non-GAAP Re
Slide 12: 2023 Guidance Reconciliation
(In millions, except per share data) 2023 Guidance1 Net Income Diluted Shares Diluted EPS GAAP Net Income & Diluted EPS $155 to $205 200 $0.78 to $1.03 Amortization expense 60 $0.30 Stock-based compensation expense 207 $1.04 Tax effect of adjustments2 (62) ($0.32) Non-GAAP Income & Diluted EPS $360
Slide 13: Fourth Quarter and Full Year 2022 Earnings
Fourth Quarter and Full Year 2022 Earnings Transforming Lives Through February 27, 2023 Genetic Discovery
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