Slide 1: First Quarter 2025 Earnings
First Quarter 2025 Earnings May 1, 2025
Slide 2: Table of Contents
Table of Contents ● Business and Financial Highlights ● First Quarter 2025 Key Financial Metrics ● 2025 Guidance ● BMN 351 Model ● 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: In Q1'25, BioMarin delivered 15% revenue growth and significant profitability expansion
In Q1’25, BioMarin delivered 15% revenue growth and significant $745M profitability expansion, driven by +15% Y/Y execution across the business; Total full year guidance reaffirmed Revenues Enzyme Therapies(1) Q1’25 VOXZOGO Other Enzyme GAAP Non-GAAP GAAP Diluted VOXZOGO Therapies(1) Operating Opera
Slide 6: Strong First Quarter 2025 Performance Across the Company
Strong First Quarter 2025 Performance Across the Company • Pivotal study with VOXZOGO in hypochondroplasia fully enrolled in April 2025; potential launch in 2027 • FDA aligned on development plan for BMN 333; plan to initiate registration-enabling study in 2026 INNOVATION • Initial data for BMN 351
Slide 7: First Quarter 2025 Key Financial Metrics
First Quarter 2025 Key Financial Metrics (In millions, except share and percentage data) Total Revenue Non-GAAP Non-GAAP Growth Operating Margin %(1) Diluted EPS(1) $745 35.7% $1.13 $649 23.8% $0.71 +15% +11.9 ppts +59% Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 (1) Refer to slide 4 for more de
Slide 8: Guidance Reaffirmed for Full-year 2025
Guidance Reaffirmed for Full-year 2025 2024 Actuals 2025 Guidance Issued February 19, 2025 (In millions, except per share and % data) Total Revenues $2,854 $3,100 to $3,200 Non-GAAP Operating Margin %(1) 28.6% 32% to 33% Non-GAAP Diluted EPS(1)(2) $3.52 $4.20 to $4.40 Reaffirmed guidance reflects th
Slide 9: BMN 351: Predicted Time Course of Dystrophin Expression
BMN 351: Predicted Time Course of Dystrophin Expression • Steady state when BMN 351 and dystrophin accumulation at capacity in muscle tissues Steady (non-muscle adjusted) State • 2-3 fold increase in dystrophin expected % Dystrophin 10 between week 25 and steady state 2-3-fold increase expected • Fo
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