Biomarin Pharmaceutical Inc. · NASDAQ:BMRN
Biomarin Pharmaceutical — Q4 2024 Earnings Presentation
13 slides from Biomarin Pharmaceutical's earnings presentation, Feb 19, 2025
Slide 1: Fourth Quarter 2024 Earnings
Fourth Quarter 2024 Earnings February 19, 2025
Slide 2: Table of Contents
Table of Contents ● Business and Financial Highlights ● Fourth Quarter and Full Year 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: BioMarin's Q4'24 and FY'24 performance
Enzyme Therapies(1) BioMarin’s Q4’24 and FY’24 VOXZOGO Other performance drove strong $2.85B revenue growth and rapid $747M +18% profitability expansion; +16% Total Total Revenues BioMarin on track to Revenues Q4’24 FY’24 multiyear growth outlook Enzyme GAAP Non-GAAP GAAP Diluted VOXZOGO Therapies(1
Slide 6: Strong Financial and Clinical Execution through Transformational 2024
Strong Financial and Clinical Execution through Transformational 2024 • BMN 333 first-in-human dosing ongoing, with initial data expected YE’25; studies advancing with VOXZOGO in multiple indications, with hypochondroplasia pivotal study enrollment completion expected 1H’25 INNOVATION • BMN 351 proo
Slide 7: Q4'24 and FY'24: Significant Growth across Key Financial Metrics
Q4’24 and FY’24: Significant Growth across Key Financial Metrics (In millions, except share and percentage data) Total Revenue Non-GAAP Non-GAAP Growth Operating Margin %(1) Diluted EPS(1) Fourth Quarter $747 31.1% $0.92 2024 Results $646 17.2% $0.49 +16% +13.9 ppts +88% Q4 2023 Q4 2024 Q4 2023 Q4 2
Slide 8: Full Year 2024 Actuals vs. Guidance
Full Year 2024 Actuals vs. Guidance 2024 Guidance 2024 Actuals As of October 29, 2024 (In millions, except per share and % data) Total Revenues $2,790 - $2,825 ✓ $2,854 Non-GAAP Operating Margin %(1) 26.5% - 27.5% ✓ 28.6% Non-GAAP Diluted EPS(1)(2) $3.25 - $3.35 ✓ $3.52 (1) Refer to slide 4 for more
Slide 9: 2025 Full Year Guidance and Long-term Financial Outlook
2025 Full Year Guidance BioMarin is on Course to Achieve Long-term Financial Outlook 2023 2024 2025 2027 Revenues(1) Total $2.42B $2.85B $3.1B to $3.2B ~$4B Operating Margin(2) Low-to-Mid 40%’s, GAAP Non- 19.4% 28.6% 32% to 33% starting with 40% in 2026 EPS(2)(3) Diluted GAAP Non- $2.08 $3.52 $4.20
Slide 10: Appendix
Appendix Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Slide 11: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) Represents a payment triggered by a third party's attainment of a regulatory approval milestone related to previously sold intangible assets. (3) These amo
Slide 12: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) Represents a payment triggered by a third party's attainment of a regulatory approval milestone related to previously sold intangible assets. (3) These amo
Slide 13: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (1) Common stock issuable under the company’s convertible debt was excluded from the computation of GAAP Weighted-Average Diluted Shares Outstanding when they were anti-dilutive. If converted, for the prior year comparative pe
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