Financial Outlook for 2022
The Company is reiterating its financial guidance for 2022, which was last provided on August 9, 2022 as a result of the close of the Antares Pharma transaction and strong year-to-date results. For the full year 2022, the Company expects:
- Total revenue of $655 million to $685 million, representing growth of 48% to 55% over 2021 total revenue primarily driven by projected revenue contribution from the Antares business of $115 million to $125 million. The Company expects revenue from royalties to increase by approximately 70% over revenue from royalties in 2021, to approximately $350 million to $360 million.
- GAAP operating income of $240 million to $265 million, which includes one-time transaction costs of approximately $45 million and amortization of approximately $80 million related to the Antares acquisition. Adjusting for these costs, we expect adjusted operating income of $365 million to $390 million. 1
- GAAP net income of $170 million to $195 million and non-GAAP net income of $295 million to $320 million.1 The Company notes that 2022 will be the first full fiscal year in which Halozyme will record income tax expense as part of its income statement.
- GAAP diluted earnings per share of $1.20 to $1.35 due to acquisition related costs in 2022.
- Non-GAAP diluted earnings per share are expected to be $2.10 to $2.25,1 reflective of the projected accretion from the Antares Pharma acquisition.
