Biomarin Pharmaceutical Inc. · NASDAQ:BMRN
Biomarin Pharmaceutical — Q2 2024 Earnings Presentation
16 slides from Biomarin Pharmaceutical's earnings presentation, Aug 5, 2024
Slide 1: Second Quarter 2024 Earnings
Second Quarter 2024 Earnings August 5, 2024 Transforming Lives Through Genetic Discovery
Slide 2: Table of Contents
Business Overview & Highlights 5 Q2 & YTD ‘24 Key Financial 7 Metrics Table of Contents 2024 Outlook 9 Non-GAAP Reconciliations 11 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 delivers record revenue growth in the second quarter
BioMarin delivers record revenue $712M growth in the +20% second quarter and Total Revenues Enzyme Therapies(1) increases full-year VOXZOGO Other 2024 guidance $184M $482M 31.2% $0.96 +62% +15% +9.5 ppts +78% VOXZOGO Enzyme Non-GAAP Non-GAAP Diluted Revenues Therapies Operating Earnings per Revenues
Slide 6: Second Quarter 2024 Key Business Highlights
Second Quarter 2024 Key Business Highlights Q2 Record Results Driven by Global Demand for VOXZOGO & Strong Contributions from NAGLAZYME and PALYNZIQ VOXZOGO revenues of $184M increased 62% year-over-year Q2 Total Revenues of $712M Increased 20% Year-over-year (+25% at Constant Currency); First Half
Slide 7: Second Quarter 2024 Key Financial Metrics
Second 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) $712 31.2% $0.96 $595 21.7% $0.54 +20% +9.5 ppts +78% Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024 7 (1) Refer to slide 4 and the a
Slide 8: Second Quarter Year-to-Date 2024 Key Financial Metrics
Second 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) $1,361 27.6% $1.67 $1,192 22.1% $1.14 +14% +5.5 ppts +46% H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 H2 2024 8 (1) Refer to
Slide 9: Updated Guidance for 2024
Updated Guidance for 2024 Prior Guidance Updated Guidance(3) As of April 24, 2024 As of August 5, 2024 (In millions, except per share and % data) Total Revenues $2,700 - $2,800 $2,750 - $2,825 Non-GAAP Operating Margin %(1) 24% - 25% 26% - 27% Non-GAAP Diluted EPS(1)(2) $2.75 - $2.95 $3.10 - $3.25 (
Slide 10: Investor Day 2024
Investor Day 2024 Investor Day 2024 (September 4, NYC) Webcast details coming soon ▪ Updated mission, vision and long-term strategic aspirations ▪ Strategic and Operating Review Committee outcomes ▪ Long-term financial targets and capital allocation strategy 10
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 Three Months Ended Six Months Ended June 30, June 30, 2024 2024 Dollar Percentage Dollar Percentage GAAP Change in Total Revenues $ 116.7 20 % $ 169.2 14 % Adjustment for unfavorable impact of foreign currency exchange rates 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 Six Months Ended June 30, June 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 Operations $
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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 GAAP Diluted EPS $ 0.55 $ 0.29 $ 1.01 $ 0.56 Adjustments Stock-based compensation expense 0.24 0.25 0.53 0.52 Amortization of intangible assets 0.07
Slide 15: Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 GAAP Weighted-Average Dilutive Shares Outstanding 200.5 195.0 200.1 194.8 Adjustments Common stock issuable under the company’s convertible debt (1) — 4
Slide 16: Second Quarter 2024 Earnings
Second Quarter 2024 Earnings August 5, 2024 Transforming Lives Through Genetic Discovery
BioMarin Pharmaceutical — Q2 2024 Earnings Presentation on 6ix