Halozyme Therapeutics (HALO) financial statements
Halozyme Therapeutics reported revenue of $1.4B in fiscal 2025, up 28.5% a year over 9 years.
Net income was $317M and the operating margin 33.6%, against -56.7% in 2016.
Free cash flow was $645M, and the company returned $342M in net buybacks.
The diluted share count fell 3% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Halozyme Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $147M | $317M | $152M | $196M | $268M | $443M | $660M | $829M | $1.0B | $1.4B |
| Cost of revenue | $33M | $31M | $10M | $46M | $43M | $81M | $139M | $192M | $159M | $229M |
| Gross profit | $113M | $285M | $142M | $150M | $224M | $362M | $521M | $637M | $856M | $1.2B |
| Research and development | $151M | $151M | $150M | $141M | $34M | $36M | $67M | $76M | $79M | $81M |
| Selling, general and admin | $46M | $54M | $61M | $77M | $46M | $50M | $144M | $149M | $154M | $207M |
| Operating income | -$83M | $81M | -$69M | -$68M | $144M | $276M | $268M | $338M | $551M | $469M |
| Interest expense | $20M | $22M | $18M | $12M | $20M | $8M | $17M | $19M | $18M | $18M |
| Pre-tax income | -$102M | $62M | -$80M | -$72M | $129M | $249M | $249M | $348M | $557M | $467M |
| Income tax | $1M | -$1M | $537,000 | -$11,000 | $217,000 | -$154M | $47M | $67M | $113M | $150M |
| Net income | -$103M | $63M | -$80M | -$72M | $129M | $403M | $202M | $282M | $444M | $317M |
| EPS (diluted) | -$0.81 | $0.45 | -$0.56 | -$0.50 | $0.91 | $2.74 | $1.44 | $2.10 | $3.43 | $2.56 |
| Diluted shares | 128M | 139M | 144M | 144M | 141M | 147M | 141M | 134M | 129M | 124M |
| Gross margin | 77.4% | 90.2% | 93.3% | 76.8% | 83.8% | 81.6% | 78.9% | 76.8% | 84.3% | 83.6% |
| Operating margin | -56.7% | 25.6% | -45.7% | -34.5% | 53.9% | 62.2% | 40.5% | 40.7% | 54.3% | 33.6% |
| Net margin | -70.2% | 19.9% | -52.9% | -36.9% | 48.2% | 90.8% | 30.6% | 34.0% | 43.7% | 22.7% |
Balance sheet
Fiscal years, from Halozyme Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $205M | $469M | $355M | $421M | $368M | $741M | $363M | $118M | $116M | $134M |
| Receivables | $16M | $22M | $30M | $59M | $98M | $91M | $231M | $233M | $288M | $426M |
| Inventory | $15M | $5M | $23M | $29M | $61M | $54M | $100M | $128M | $142M | $176M |
| Total current assets | $257M | $510M | $428M | $543M | $555M | $926M | $739M | $746M | $1.1B | $825M |
| Property, plant and equipment | $4M | $4M | $7M | $11M | $11M | $7M | $35M | $38M | $41M | $44M |
| Goodwill | — | — | — | — | — | $0 | $409M | $417M | $417M | $580M |
| Total assets | $262M | $520M | $440M | $566M | $580M | $1.1B | $1.8B | $1.7B | $2.1B | $2.5B |
| Total current liabilities | $55M | $131M | $149M | $86M | $421M | $117M | $131M | $112M | $139M | $177M |
| Long-term debt | $199M | $125M | $35M | $383M | $0 | $787M | $1.5B | $1.5B | $1.5B | $2.1B |
| Total liabilities | $294M | $312M | $191M | $474M | $429M | $907M | $1.7B | $1.6B | $1.7B | $2.5B |
| Shareholders' equity | -$32M | $208M | $249M | $92M | $151M | $197M | $170M | $84M | $364M | $49M |
| Net debt | $150M | $34M | $68M | $282M | $250M | $758M | $1.3B | $1.4B | $1.4B | $2.0B |
Cash flow
Fiscal years, from Halozyme Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$50M | $134M | -$50M | -$85M | $55M | $299M | $240M | $389M | $479M | $652M |
| Capital spending | $3M | $1M | $5M | $4M | $3M | $1M | $5M | $15M | $11M | $7M |
| Free cash flow | -$54M | $133M | -$54M | -$89M | $53M | $298M | $235M | $373M | $468M | $645M |
| Stock-based compensation | $26M | $31M | $36M | $35M | $17M | $21M | $24M | $37M | $43M | $52M |
| Share buybacks (net) | — | $0 | $0 | -$200M | -$150M | -$350M | -$200M | -$402M | -$250M | -$342M |
| Free cash flow margin | -36.5% | 41.9% | -35.7% | -45.6% | 19.8% | 67.2% | 35.6% | 45.0% | 46.1% | 46.2% |
Questions
What was Halozyme Therapeutics's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Halozyme Therapeutics generate?
$645M in fiscal 2025 (operating cash flow minus capital spending).
From Halozyme Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.