Financial Guidance and Company Overview
2022 Financial Guidance Highlights (Excluding Antares)
Total Revenue
2021
2022
$443.3M
$530M-$560M
~20-26% growth
Includes one new deal upfront milestone
API and milestone revenue overall similar to 2021
First time annual revenue >$500M
Project -50% YoY Growth
Royalty Revenue
$203.9M
~$300M
Operating Income
$275.9M
$350M-$380M
GAAP Diluted EPS
$2.74
$1.90-$2.05
Non-GAAP Diluted EPS
$2.00
$2.05-$2.20
Halozyme
Second year of projected increase of ~$100M
~27-38% growth
>65% Operating Margin
Includes incremental $20M Op-Ex Investment to maximize
ENHANZEⓇ and extend Royalty Revenue durability
2021 GAAP Diluted EPS includes $154.2M one-time benefit
from reversal of tax valuation allowance, representing
~$1.05 per share
2022 represents first year of income tax expense projected
to be $0.55-0.60 per share
2021 Non-GAAP Diluted EPS excludes $154.2M one-time
benefit from reversal of tax valuation allowance
2022 represents first year of income tax expense projected
to be $0.55-0.60 per share
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