Filing Flows › Halozyme Therapeutics (HALO) › Q1 2026
Halozyme Therapeutics (HALO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Halozyme Therapeutics (HALO) reported revenue of $377M for the first quarter 2026 (Q1 2026), +42% from a year earlier and -17% from the quarter before. Operating margin was 49.0%, net earnings $150M (39.8% of revenue).
Halozyme Therapeutics, Q1 2026: revenue $377M (+42% year over year), operating margin 49.0%, net earnings $150M, operating cash flow $180M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $377M | -17% | +42% |
| Operating profit | $185M | — | +30% |
| Net earnings | $150M | — | +27% |
| Operating cash flow | $180M | -18% | +17% |
| Free cash flow | $176M | -19% | +15% |
What changed
Revenue was $376.7M in Q1 2026, up 42% year over year and down 17% from the previous quarter. Royalties was the largest line at 64% of revenue. Royalties added $72.5M year over year (up 43%), 65% of the total change. Revenues under collaborative agreements declined 70%.
Operating profit was $184.5M, a 49.0% margin (down 4.5 points year over year). Of the extra revenue versus Q1 2025, 38% reached operating profit, below the 53% margin then. Total costs grew 56% against revenue growth of 42%. The fastest-growing cost line was Research & development (+73%). Net earnings were $150.0M, up 27% year over year. The effective tax rate was 16.8%.
Operating cash flow was $180.1M (up 17% year over year), 120% of net earnings. Non-cash charges added back $4.2M of depreciation and amortization and $16.6M of share-based compensation. Working capital and other items added $9.2M. Capital expenditures of $3.7M left free cash flow of $176.3M.
Questions
What was Halozyme Therapeutics' revenue in the first quarter 2026?
Halozyme Therapeutics (HALO) reported revenue of $377M for the first quarter 2026 (Q1 2026), +42% from a year earlier and -17% from the quarter before.
Was Halozyme Therapeutics profitable in the first quarter 2026?
Operating profit was $185M (49.0% of revenue) and net earnings $150M.