BioMarin (BMRN) Q1 2026 Earnings
How Did BMRN Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +1.90%.
Did BMRN Beat Earnings? Q1 2026 Results
No. BioMarin reported Q1 2026 earnings of $0.76 a share on May 4, 2026, missing the $0.91 consensus estimate by 16.9%. Revenue was $766.2M against a $751.7M estimate.
BioMarin delivered a mixed first quarter for 2026, with revenue clearing expectations but earnings falling notably short as a series of one-time charges weighed on the bottom line. The company posted revenue of $766.21 million, a 2.8% year-over-year gain that edged past the $751.68 million consensus, yet earnings per share of $0.76 came in 16.86% below the $0.91 estimate, undercut primarily by a $31 million charge tied to an unsuccessful NAGLAZYME manufacturing process qualification campaign and pre-close costs related to BioMarin's acquisition of Amicus Therapeutics, which together shaved roughly $0.19 from EPS year-over-year. That deal, which adds GALAFOLD and POMBILITI + OPFOLDA to BioMarin's commercial portfolio, was the transformative event of the quarter and is the primary engine behind the company's sharply raised full-year 2026 revenue guidance of $3.83 billion to $3.93 billion, representing roughly 20% growth at the midpoint. Evercore ISI lifted its price target on the stock following positive VOXZOGO data, a reflection of broader pipeline confidence heading into anticipated Phase 3 readouts for BMN 401 and VOXZOGO in hypochondroplasia during Q2.
- Timing of large government orders outside the U.S.
- Increased patient demand for Enzyme Therapies portfolio
- New patients initiating VOXZOGO therapy across all regions with >20% Y/Y growth in treated children
- Enzyme Therapies revenue grew 6% Y/Y driven by VIMIZIM, NAGLAZYME, and BRINEURA
- PALYNZIQ new starts in under-18 age group following February label expansion
- $31 million charge for unsuccessful NAGLAZYME manufacturing process qualification campaign negatively impacted margins
- Higher SG&A from Amicus pre-close costs and increased VOXZOGO/PALYNZIQ/VIMIZIM commercial spend
“With the acquisition of Amicus Therapeutics complete, the addition of GALAFOLD and POMBILITI + OPFOLDA to our commercial portfolio allows us to reach patients with Fabry and Pompe diseases and meaningfully strengthens and accelerates our near-to-mid-term growth rates. We expect these high-growth assets to support our strongest financial performance yet in 2026.”
BioMarin CEO, on the earnings call
What Is BioMarin's Outlook?
BioMarin raised full-year 2026 total revenues guidance to $3.825–$3.925 billion (from $3.325–$3.425 billion), representing an accelerated 20% Y/Y growth rate at the midpoint, reflecting the addition of GALAFOLD and POMBILITI + OPFOLDA post-Amicus acquisition. Enzyme Therapies guidance was raised to $2.725–$2.775 billion. VOXZOGO and Other Revenues guidance are unchanged. Non-GAAP Diluted EPS guidance is $4.85–$5.05 (previously $4.95–$5.15), with the Amicus acquisition expected to be slightly dilutive to full-year Non-GAAP EPS. Approximately two-thirds of 2026 Non-GAAP EPS is expected in the second half, with more than 55% of total revenues also expected in H2. Q2 Non-GAAP Diluted EPS is expected to be modestly higher than Q1. PALYNZIQ revenue is expected to increase year-over-year for full-year 2026. Key upcoming catalysts include BMN 401 Phase 3 topline data and VOXZOGO hypochondroplasia Phase 3 topline data in Q2 2026, with potential regulatory submissions in H2 2026 and launches in 2027.
BMRN YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $766.2M | $745.1M | +2.8% |
| Gross Profit | $571.2M | $593.6M | −3.8% |
| Operating Income | $129.6M | $223.9M | −42.1% |
| Net Income | $105.5M | $185.7M | −43.2% |
BMRN Revenue by Segment
When Does BioMarin Report Next?
Figures from SEC filings and company reports. Not investment advice.