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How Halozyme Therapeutics (HALO) makes money
Halozyme Therapeutics (HALO) made $493M of revenue in the third quarter 2026 (Q3 2026), +39% from a year earlier. Royalties brought in $341M (69%); Product sales, net brought in $137M (28%); Revenues under collaborative agreements brought in $14.6M (3%). Of every dollar of revenue, 60¢ was left as operating profit, 50¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Royalties | $341M | 69.2% | — | +44% |
| Product sales, net | $137M | 27.9% | — | +46% |
| ↳ Bulk rHuPH20 sales | $70.6M | 14.3% | — | +117% |
| ↳ Proprietary product sales | $55.6M | 11.3% | — | +6% |
| ↳ Device partnered product sales | $11.2M | 2.3% | — | +18% |
| Revenues under collaborative agreements | $14.6M | 3.0% | — | -39% |
| ↳ Sales-based milestones | $7.0M | 1.4% | — | -65% |
| ↳ Device licensing and development revenue | $4.6M | 0.9% | — | +16% |
| ↳ Upfront license and target nomination fees | $3.0M | 0.6% | — | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $493M | 100.0% |
| Operating profit | $295M | 59.8% |
| Income tax | $43.6M | 8.8% |
| Net earnings | $247M | 50.1% |
| Operating cash flow | $258M | 52.4% |
| Free cash flow | $255M | 51.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $493M | +39% |
| Q2 2026 | $481M | +48% |
| Q1 2026 | $377M | +42% |
| Q4 2025 | $452M | +52% |
| Q3 2025 | $354M | +22% |
| Q2 2025 | $326M | +41% |
| Q1 2025 | $265M | +35% |
From Halozyme Therapeutics' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Halozyme Therapeutics make money?
Halozyme Therapeutics (HALO) made $493M of revenue in the third quarter 2026 (Q3 2026), +39% from a year earlier. Royalties brought in $341M (69%); Product sales, net brought in $137M (28%); Revenues under collaborative agreements brought in $14.6M (3%). Of every dollar of revenue, 60¢ was left as operating profit, 50¢ was left as net earnings.
What is Halozyme Therapeutics' biggest business?
Royalties: $341M in the third quarter 2026, 69% of revenue, +44% from a year earlier.
What is Halozyme Therapeutics' profit margin?
Net earnings were $247M, 50.1% of revenue, in the third quarter 2026; the operating margin was 59.8%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.