Q3 25 EPS
$0.12
MISS 62.50%
Est. $0.32
Q3 25 Revenue
$776.1M
MISS 0.52%
Est. $780.2M
vs S&P Since Q3 25
+1.0%
BEATING MARKET
BMRN +8.8% vs S&P +7.9%
Market Reaction
Did BMRN Beat Earnings? Q3 2025 Results
BioMarin delivered a mixed and headline-grabbing Q3 2025, with a $221 million in-process R&D charge tied to its Inozyme Pharma acquisition overwhelming an otherwise steady operating quarter and sending non-GAAP diluted EPS to just $0.12, a sharp 62.5… Read more BioMarin delivered a mixed and headline-grabbing Q3 2025, with a $221 million in-process R&D charge tied to its Inozyme Pharma acquisition overwhelming an otherwise steady operating quarter and sending non-GAAP diluted EPS to just $0.12, a sharp 62.50% miss against the $0.32 consensus. Revenue of $776.13 million, up 4.1% year-over-year, came in fractionally below the $780.22 million estimate, though the underlying product story offered more encouragement: VOXZOGO climbed 15% to $218 million and PALYNZIQ surged 20% to $109 million, marking its third consecutive quarter of 20%-plus growth. Overshadowing those gains, BioMarin announced it will seek to divest ROCTAVIAN, its hemophilia A gene therapy, after the product generated just $3 million in the quarter, a 57% year-over-year decline. For the full picture behind the quarter, management raised its full-year revenue guidance midpoint to $3.15–$3.20 billion while cutting non-GAAP EPS guidance to $3.50–$3.60, reflecting roughly $1.10 per share of acquisition-related headwinds.
Key Takeaways
- • VOXZOGO and PALYNZIQ drove revenue growth with more than 20% Y/Y revenue increases year-to-date
- • New patient initiations across all regions for both VOXZOGO and PALYNZIQ
- • PALYNZIQ strength driven by greater numbers of patients titrating to daily maintenance dose and strong adherence
- • Approximately 75% of VOXZOGO revenue from markets outside the U.S.
- • Favorable product mix lowered Cost of Sales during the quarter
- • Lower ALDURAZYME sales due to timing of order fulfillment to Sanofi
- • Lower NAGLAZYME sales due to timing of large government orders in Latin America
BMRN YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
BMRN Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased with the contributions from our Enzyme Therapies and Skeletal Conditions business units to date this year driven by more than 20% revenue growth from PALYNZIQ and VOXZOGO. Our strategic investments in these focused business units are generating strong results, and we anticipate sustained financial performance from each of them. Both Enzyme Therapies and Skeletal Conditions remain central to our growth strategy, in addition to new business development opportunities and our advancing internal pipeline. As we focus on the business units aligned with our strategic priorities, today we are announcing the decision to pursue options to divest ROCTAVIAN and remove it from our portfolio. We continue to believe ROCTAVIAN has an important role to play in the treatment of hemophilia A and are therefore evaluating out-licensing options for this innovative gene therapy. This decision is consistent with BioMarin's portfolio strategy and offers the most promising opportunity for ensuring continued patient access to ROCTAVIAN.”
— Alexander Hardy, Q3 2025 Earnings Press Release
BMRN Earnings Trends
BMRN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BMRN EPS Trend
Earnings per share: estimate vs actual
BMRN Revenue Trend
Quarterly revenue: estimate vs actual
BMRN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.91 | $0.76 | -16.86% | $766.2M | +1.93% |
| Q4 25 MISS FY | $0.56 | $0.46 | -17.95% | $874.6M | +4.73% |
| FY Full Year | — | $3.15 | — | $3.22B | — |
| Q3 25 MISS | $0.32 | $0.12 | -62.50% | $776.1M | -0.52% |
| Q2 25 BEAT | $1.01 | $1.44 | +42.31% | $825.4M | +8.37% |
| Q1 25 BEAT | $0.95 | $1.13 | +18.87% | $745.1M | +0.91% |