Filing Flows › Halozyme Therapeutics (HALO) › Q3 2026 › vs Q3 2025
Halozyme Therapeutics (HALO) Q3 2026 vs Q3 2025 (year over year)
Halozyme Therapeutics's revenue rose $139M (+39%) from $354M in Q3 2025 to $493M in Q3 2026. The biggest changes: Royalties +$105M (+44%); Product sales, net +$43.1M (+46%); Revenues under collaborative agreements −$9.4M (-39%). Operating margin 59.8% against 61.5% (-1.7 pts).
Halozyme Therapeutics, Q3 2026: revenue $493M (+39% year over year), operating margin 59.8%, net earnings $247M, operating cash flow $258M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 59.8% | 61.5% | -1.7 pts |
| Net margin | 50.1% | 49.5% | +0.7 pts |
| Free cash flow margin | 51.8% | 49.6% | +2.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Bulk rHuPH20 sales | $70.6M | $32.5M | $38.1M | +117% |
| Proprietary product sales | $55.6M | $52.2M | $3.3M | +6% |
| Device partnered product sales | $11.2M | $9.5M | $1.7M | +18% |
| Sales-based milestones | $7.0M | $20.0M | −$13.0M | -65% |
| Device licensing and development revenue | $4.6M | $4.0M | $647K | +16% |
| Upfront license and target nomination fees | $3.0M | $0 | $3.0M | — |
| Product sales, net | $137M | $94.2M | $43.1M | +46% |
| Revenues under collaborative agreements | $14.6M | $24.0M | −$9.4M | -39% |
| Royalties | $341M | $236M | $105M | +44% |
| Revenue | $493M | $354M | $139M | +39% |
| Operating profit | $295M | $218M | $77.0M | +35% |
| Costs & expenses | $198M | $136M | $61.7M | +45% |
| Pre-tax earnings | $291M | $219M | $71.7M | +33% |
| Other expense, net | $4.3M | −$1.0M | $5.4M | — |
| Cost of revenue | $82.5M | $55.2M | $27.2M | +49% |
| Research & development | $27.8M | $17.3M | $10.5M | +61% |
| SG&A | $58.2M | $46.1M | $12.2M | +26% |
| Other operating costs | $29.5M | $17.8M | $11.8M | +66% |
| Net earnings | $247M | $175M | $71.8M | +41% |
| Income tax | $43.6M | $43.7M | −$151K | -0.3% |
| Depreciation & amortization | $4.7M | $2.7M | $2.0M | +74% |
| Share-based compensation | $16.8M | $12.2M | $4.6M | +38% |
| Working capital & other | $10.3M | $11.5M | −$1.2M | -10% |
| Operating cash flow | $258M | $179M | $79.7M | +45% |
| Free cash flow (OCF − capex) | $255M | $176M | $79.7M | +45% |
| Capital expenditures | $3.0M | $3.0M | $20K | +0.7% |
Questions
How much did Halozyme Therapeutics's revenue grow year over year in Q3 2026?
Halozyme Therapeutics's revenue rose $139M (+39%) from $354M in Q3 2025 to $493M in Q3 2026.
What drove Halozyme Therapeutics's revenue change in Q3 2026?
Royalties +$105M (+44%); Product sales, net +$43.1M (+46%); Revenues under collaborative agreements −$9.4M (-39%).