HALO

MKT CAP:$8B

Halozyme Therapeutics, Inc.

Market Cap

$8B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$68.14-$2.17 (-3.09%)

Apr 23, 2026

Company Details

Halozyme Therapeutics, Inc. operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a pat...

CEO

Helen I. Torley

IPO Date

Mar 16, 2004

Website

www.halozyme.com

Key Metrics TTM

Revenue

$1.4B

+37.6% YoY

Net Income

$317M

EPS (Diluted)

$2.49

Free Cash Flow

$645M

Revenue / Share

$11.87

Gross Margin

81.9%

Operating Margin

58.4%

Net Margin

22.7%

FCF Margin

46.2%

P/S

5.5x

P/E

24.4x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 17, 2026

$1.4B+37.6%EPS $2.56

Q4 2025

Feb 17, 2026

$452M+51.6%EPS -$1.20

Q3 2025

Oct 3, 2025

$354M+22.1%EPS $1.43

Q2 2025

Aug 5, 2025

$326M+40.8%EPS $1.33

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$117M	$101M	$76M
Q2 22	$152M	$118M	$34M
Q3 22	$209M	$162M	$83M
Q4 22	$181M	$139M	$75M
Q1 23	$162M	$127M	$54M
Q2 23	$221M	$171M	$94M
Q3 23	$216M	$161M	$88M
Q4 23	$230M	$178M	$101M
Q1 24	$196M	$150M	$96M
Q2 24	$231M	$174M	$117M
Q3 24	$290M	$241M	$163M
Q4 24	$298M	$256M	$176M
Q1 25	$265M	$216M	$142M
Q2 25	$326M	$279M	$202M
Q3 25	$354M	$299M	$218M
Q4 25	$452M	$350M	$254M

Valuation

Quarter	P/S	P/E
Q1 22	16.4x	17.7x
Q2 22	15.8x	21.1x
Q3 22	13.3x	36.6x
Q4 22	11.7x	38.2x
Q1 23	11.0x	42.5x
Q2 23	10.0x	33.0x
Q3 23	9.9x	30.4x
Q4 23	9.3x	27.4x
Q1 24	8.9x	24.2x
Q2 24	8.8x	22.9x
Q3 24	8.1x	19.7x
Q4 24	7.6x	17.4x
Q1 25	7.1x	15.9x
Q2 25	6.5x	13.9x
Q3 25	6.2x	13.0x
Q4 25	5.5x	24.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$48M	$47M
Q2 22	$40M	$39M
Q3 22	$70M	$69M
Q4 22	$82M	$80M
Q1 23	$87M	$76M
Q2 23	$67M	$68M
Q3 23	$132M	$129M
Q4 23	$102M	$100M
Q1 24	$129M	$126M
Q2 24	$56M	$53M
Q3 24	$115M	$114M
Q4 24	$178M	$175M
Q1 25	$154M	$153M
Q2 25	$100M	$98M
Q3 25	$179M	$176M
Q4 25	$219M	$218M

Capital Expenditures

Quarter	CapEx
Q1 22	$490.0K
Q2 22	$968.0K
Q3 22	$1M
Q4 22	$2M
Q1 23	$11M
Q2 23	$2M
Q3 23	$3M
Q4 23	$3M
Q1 24	$4M
Q2 24	$3M
Q3 24	$2M
Q4 24	$3M
Q1 25	$950.0K
Q2 25	$2M
Q3 25	$3M
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+31.7%	+8.7%
Q2 22	+11.7%	+172.5%
Q3 22	+80.4%	+212.3%
Q4 22	+77.9%	+135.3%
Q1 23	+38.3%	+160.4%
Q2 23	+45.1%	+7.0%
Q3 23	+3.4%	+1.6%
Q4 23	+26.7%	+20.6%
Q1 24	+20.8%	-7.4%
Q2 24	+4.7%	-9.8%
Q3 24	+34.3%	-0.7%
Q4 24	+29.5%	-5.0%
Q1 25	+35.2%	+22.9%
Q2 25	+40.8%	+8.0%
Q3 25	+22.1%	+7.5%
Q4 25	+51.6%	+61.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$5M	4.0%
Q2 22	$6M	3.7%
Q3 22	$7M	3.3%
Q4 22	$7M	4.0%
Q1 23	$8M	4.9%
Q2 23	$10M	4.4%
Q3 23	$9M	4.3%
Q4 23	$10M	4.2%
Q1 24	$10M	5.0%
Q2 24	$9M	4.1%
Q3 24	$13M	4.3%
Q4 24	$11M	3.8%
Q1 25	$11M	4.0%
Q2 25	$12M	3.7%
Q3 25	$12M	3.4%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$12M	$14M
Q2 22	$15M	$57M
Q3 22	$17M	$34M
Q4 22	$23M	$38M
Q1 23	$18M	$37M
Q2 23	$20M	$39M
Q3 23	$17M	$35M
Q4 23	$21M	$38M
Q1 24	$19M	$35M
Q2 24	$21M	$36M
Q3 24	$18M	$41M
Q4 24	$20M	$42M
Q1 25	$15M	$42M
Q2 25	$18M	$42M
Q3 25	$17M	$46M
Q4 25	$32M	$63M

Revenue Segments

Quarter	Collaborative Agreements	Product	Royalty
Q4 23	$28M	$80M	$122M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$118M	$668M	$786M
Q2 22	$91M	$118M	$209M
Q3 22	$147M	$118M	$266M
Q4 22	$234M	$129M	$363M
Q1 23	$96M	$179M	$276M
Q2 23	$221M	$127M	$348M
Q3 23	$274M	$209M	$483M
Q4 23	$118M	$218M	$336M
Q1 24	$165M	$299M	$463M
Q2 24	$188M	$341M	$529M
Q3 24	$154M	$512M	$666M
Q4 24	$116M	$480M	$596M
Q1 25	$176M	$572M	$748M
Q2 25	$62M	$486M	$548M
Q3 25	$420M	$282M	$702M
Q4 25	$134M	$9M	$143M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	141M	-2.1%	-4.9%
Q2 22	142M	+0.7%	-3.7%
Q3 22	139M	-2.0%	-5.0%
Q4 22	139M	-0.6%	-3.9%
Q1 23	138M	-0.5%	-2.4%
Q2 23	134M	-3.2%	-6.1%
Q3 23	134M	+0.4%	-3.8%
Q4 23	131M	-2.3%	-5.5%
Q1 24	129M	-1.6%	-6.5%
Q2 24	129M	+0.3%	-3.2%
Q3 24	130M	+0.7%	-2.9%
Q4 24	129M	-0.5%	-1.2%
Q1 25	127M	-2.1%	-1.7%
Q2 25	124M	-2.0%	-3.9%
Q3 25	122M	-1.5%	-6.0%
Q4 25	118M	-3.8%	-9.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$808.8K	145
Q2 22	$1M	145
Q3 22	$1M	145
Q4 22	$461.8K	393
Q1 23	$412.6K	393
Q2 23	$562.4K	393
Q3 23	$549.7K	393
Q4 23	$616.7K	373
Q1 24	$525.1K	373
Q2 24	$620.2K	373
Q3 24	$777.7K	373
Q4 24	$851.5K	350
Q1 25	$756.7K	350
Q2 25	$930.6K	350
Q3 25	$1M	350
Q4 25	$1M	423

Revenue / Employee