"BioMarin reported adjusted EPS of $0.12 against expectations of $0.32, a significant shortfall. Revenue came in at $776 million versus the $780.2 million consensus estimate. On a GAAP basis, the company posted a $31 million loss, driven largely by a $221 million charge related to the Inozyme Pharma acquisition. The contrast is stark: adjusted net income fell to $22 million from $106 million in the same quarter last year, a decline of 79 percent."
"What caught my attention was the operating cash flow number. It surged 229 percent year over year to $728.4 million, a significant strength that underscores the company's ability to convert revenue into cash despite the bottom-line pressure. The company's cash position also strengthened to $1.25 billion, up 85 percent annually."
"Two franchises delivered the goods. VOXZOGO, BioMarin's treatment for achondroplasia, posted 24 percent year-over-year revenue growth. More importantly, PALYNZIQ achieved its third consecutive quarter of 20 percent or better growth, demonstrating sustained demand in the company's Enzyme Therapies segment. These are the engines that matter right now. Management raised full-year revenue guidance at the midpoint, signaling confidence in the trajectory of these core assets through year-end. CEO Alexander Hardy noted that both the Enzyme Therapies and Skeletal Conditions units drove results "with more than 20% revenue growth from PALYNZIQ and VOXZOGO.""
BioMarin posted adjusted EPS of $0.12 versus $0.32 expected and revenue of $776 million versus $780.2 million consensus, while a GAAP loss of $31 million reflected a $221 million charge from the Inozyme Pharma acquisition. Adjusted net income declined 79% year over year to $22 million. Operating cash flow surged 229% to $728.4 million and cash on hand rose to $1.25 billion, up 85% annually. VOXZOGO revenue grew 24% year over year and PALYNZIQ recorded a third consecutive quarter of at least 20% growth. Management raised full-year revenue guidance at the midpoint.
Read at 24/7 Wall St.
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