Filing Flows › Halozyme Therapeutics (HALO) › Q2 2025
Halozyme Therapeutics (HALO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Halozyme Therapeutics (HALO) reported revenue of $326M for the second quarter 2025 (Q2 2025), +41% from a year earlier and +23% from the quarter before. Operating margin was 62.2%, net earnings $165M (50.7% of revenue).
Halozyme Therapeutics, Q2 2025: revenue $326M (+41% year over year), operating margin 62.2%, net earnings $165M, operating cash flow $99.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $326M | +23% | +41% |
| Operating profit | $202M | +43% | +73% |
| Net earnings | $165M | +40% | +77% |
| Operating cash flow | $99.7M | -35% | +79% |
| Free cash flow | $98.1M | -36% | +84% |
What changed
Revenue was $325.7M in Q2 2025, up 41% year over year and up 23% from the previous quarter. Royalties was the largest line at 63% of revenue. Royalties added $80.7M year over year (up 65%), 86% of the total change. Bulk rHuPH20 sales declined 6%.
Operating profit was $202.4M, a 62.2% margin (up 11.5 points year over year). Of the extra revenue versus a year earlier, 90% reached operating profit, above the 51% margin then. Total costs grew 8% against revenue growth of 41%. The fastest-growing cost line was Cost of revenue (+17%). Net earnings were $165.2M, up 77% year over year. The effective tax rate was 19.4%.
Operating cash flow was $99.7M (up 79% year over year), 60% of net earnings. Non-cash charges added back $2.7M of depreciation and amortization and $12.2M of share-based compensation. Working capital and other items used $80.3M. Capital expenditures of $1.6M left free cash flow of $98.1M.
Questions
What was Halozyme Therapeutics' revenue in the second quarter 2025?
Halozyme Therapeutics (HALO) reported revenue of $326M for the second quarter 2025 (Q2 2025), +41% from a year earlier and +23% from the quarter before.
Was Halozyme Therapeutics profitable in the second quarter 2025?
Operating profit was $202M (62.2% of revenue) and net earnings $165M.