BioMarin Pharmaceutical Inc. (BMRN) saw its stock surge 10.52% in pre-market trading on Thursday following the company's exceptional fourth-quarter 2024 earnings report and robust guidance for 2025.
BioMarin reported record financial performance for the fourth quarter and full-year 2024. Total revenue grew 18% year-over-year to $2.85 billion in 2024, with Q4 revenue increasing 16% to $747 million. The company's flagship product, VOXZOGO for achondroplasia, saw impressive growth of 56% in 2024, reaching $735 million in revenue. Additionally, BioMarin's Enzyme Therapy portfolio exceeded $1.9 billion in revenue, reflecting a 12% increase from 2023. Profitability metrics were equally impressive, with non-GAAP operating margins expanding by 9.2 percentage points to 28.6% for the full year, and non-GAAP diluted EPS increasing 69% to $3.52. Operating cash flow for 2024 surged 260% to $573 million, showcasing the company's robust cash generation capabilities.
BioMarin provided an optimistic outlook for 2025, forecasting total revenue between $3.1 billion and $3.2 billion, representing a 10% growth rate. The company expects non-GAAP operating margins to improve further, ranging between 32% and 33%, while non-GAAP diluted EPS is projected to be in the range of $4.20 to $4.40 per share. This guidance reflects BioMarin's confidence in sustaining strong momentum and growth across its portfolio, particularly in its lead products and pipeline candidates.
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