Second Quarter 2023 Earnings
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 expense, stock-based compensation expense, contingent consideration expense, and, in certain periods, certain.
other specified items, as detailed below when applicable. The Company also includes a Non-GAAP adjustment for the estimated tax impact of
the reconciling items. For BioMarin's 2023 financial guidance, Non-GAAP Income is defined as GAAP Net Income excluding amortization of
intangible assets, stock-based compensation expense, and certain other specified items that are typically highly variable, difficult to predict,
and/or of a size that could have a substantial impact on the Company's reported operations for a period, and Non-GAAP Diluted EPS is defined
by the Company as Non-GAAP Income divided by Non-GAAP diluted shares outstanding.
Non-GAAP Income and its components are not meant to be considered in isolation or as a substitute for, or superiorto, comparable GAAP
measures and should be read in conjunction with the consolidated financial information prepared in accordance with GAAP. Investors should
note that the Non-GAAP information is not prepared under any comprehensive set of accounting rules or principles and does not reflect all of the
amounts associated with the Company's results of operations as determined in accordance with GAAP. Investors should also note that these
Non-GAAP financial measures have no standardized meaning prescribed by GAAP and, therefore, have limits in their usefulness to investors. In
addition, from time to time in the future there may be other items that the Company may exclude for purposes of its Non-GAAP financial
measures; likewise, the Company may in the future cease to exclude items that it has historically excluded for purposes of its Non-GAAP
financial measures. Because of the non-standardized definitions, the Non-GAAP financial measure as used by Bio Marin in this presentation may
be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
BIOMARINView entire presentation