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Halozyme Therapeutics (HALO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Halozyme Therapeutics (HALO) Q3 2026 earnings results →
Q3 2026 Revenue up 39% year over year to $493M · 50¢ of every $1 of revenue kept as net profit · operating margin 59.8%
Halozyme Therapeutics made $493M in Q3 2026 (+39% Y/Y): Royalties $341M, Product sales, net $137M, Revenues under collaborative agreements $14.6M. Operating margin 59.8%, net earnings $247M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $493.0M in Q3 2026, up 39% year over year and up 2% from the previous quarter. Royalties was the largest line at 69% of revenue. Royalties added $105.0M year over year (up 44%), 76% of the total change. Sales-based milestones declined 65%.
Operating profit was $295.0M, a 59.8% margin (down 1.7 points year over year). Of the extra revenue versus Q3 2025, 56% reached operating profit, below the 62% margin then. Total costs grew 45% against revenue growth of 39%. The fastest-growing cost line was Other operating costs (+66%). Net earnings were $247.0M, up 41% year over year. The effective tax rate was 15.0%.
Operating cash flow was $258.3M (up 45% year over year), 105% of net earnings. Non-cash charges added back $4.7M of depreciation and amortization and $16.8M of share-based compensation. Capital expenditures of $3.0M left free cash flow of $255.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $493M | +39% | 59.8% | $247M | $258M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $481M | +48% | 59.8% | $230M | $241M |
| Q1 2026 | 10-Q | May 11, 2026 | $377M | +42% | 49.0% | $150M | $180M |
| Q4 2025 | 10-K | Feb 17, 2026 | $452M | +52% | -20.6% | −$142M | $219M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $354M | +22% | 61.5% | $175M | $179M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $326M | +41% | 62.2% | $165M | $99.7M |
| Q1 2025 | 10-Q | May 6, 2025 | $265M | +35% | 53.4% | $118M | $154M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Halozyme Therapeutics
Halozyme Therapeutics, Inc. is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE ® drug delivery technology (“ENHANZE”) with our proprietary enzyme, rHuPH20, our commercially validated solution is used to facilitate the subcutaneous (“SC”) delivery of injected drugs and fluids, with the goal of improving the patient experience with rapid SC delivery and reduced treatment burden. We license our technology to biopharmaceutical companies to collaboratively develop products that combine ENHANZE with our partners’ proprietary compounds. We are also developing partner products with Hypercon™ drug delivery technology (“Hypercon technology”) and developing the Surf Bio drug delivery technology to expand the breadth of our drug delivery technology portfolio.
In its own words, from its 10-K, filed Feb 17, 2026.
Halozyme Therapeutics against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +39% against the peers' median +11%. Operating margin: 59.8% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
| TECH Bio-Techne | Q1 FY27 | $300M | +5% | 12.2% |
Source: Halozyme Therapeutics 10-Q on SEC EDGAR · CIK 1159036 · Biological Products, (No Diagnostic Substances)
Guidance and outlook
13F: who owns HALO and who is buying
More on HALO
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- Halozyme Therapeutics guidance and outlook
- Is Halozyme Therapeutics a takeover target? LBO and rumors
- Halozyme Therapeutics recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Halozyme Therapeutics guidance history: guided vs reported
- Halozyme Therapeutics operating margin by quarter
- Halozyme Therapeutics net income by quarter
- Halozyme Therapeutics free cash flow by quarter
- Halozyme Therapeutics R&D spending by quarter
- Halozyme Therapeutics capital expenditures by quarter
- Halozyme Therapeutics Royalties revenue by quarter
- Halozyme Therapeutics Product sales, net revenue by quarter
- Halozyme Therapeutics Revenues under collaborative agreements revenue by quarter