Companies /Healthcare

Biomarin Pharmaceutical Inc

NASDAQ: BMRN Biotechnology
$65.08
▲ $0.35 (+0.54%) today
Markets closed · 5:47pm ET

Q4 2025 Earnings

Reported Feb 23, 2026, 11:08am ET · SEC source
$0.46
Miss −17.95%
EPS · est. $0.56
$874.6M
Beat +4.73%
Revenue · est. $835.0M
−5.1%
Trailing market
BMRN vs S&P since report
3 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−6%−3%0Feb 23Feb 24report 11:08am ETearnings+0.9%−3.3%
−6%−3%0Feb 23Feb 24earnings+0.9%−3.3%
BMRN −3.3%S&P 500 +0.9%
−6%−3%0Feb 23Feb 24report 11:08am ETearnings+1.4%−3.3%
−6%−3%0Feb 23Feb 24earnings+1.4%−3.3%
BMRN −3.3%NASDAQ +1.4%
−8%−4%0Feb 23Mar 3report 11:08am ETearnings−0.7%−8.6%
−8%−4%0Feb 23Mar 3earnings−0.7%−8.6%
BMRN −8.6%S&P 500 −0.7%
−8%−4%0+4%Feb 23Mar 3report 11:08am ETearnings−0.3%−8.6%
−8%−4%0+4%Feb 23Mar 3earnings−0.3%−8.6%
BMRN −8.6%NASDAQ −0.3%
−0.48%
Day of report
−1.88%
Next session
−6.53%
One week
−11.29%
30 days

S&P 500 over the same 30 days: −6.15%.

Did BMRN Beat Earnings? Q4 2025 Results

BioMarin closed out 2025 with a quarter defined as much by strategic upheaval as by underlying momentum, as Q4 revenue climbed 17% year-over-year to $874.57 million while non-GAAP diluted EPS landed at $0.46 — a figure cut roughly in half from the prior-year period largely because of the voluntary withdrawal of gene therapy ROCTAVIAN from the market, which triggered approximately $240 million in charges including a $119 million inventory write-off that flowed directly through cost of sales. VOXZOGO remained the topline engine, growing 31% in the quarter and 26% for the full year, while PALYNZIQ delivered a standout 25% Q4 gain within Enzyme Therapies. Looking ahead, BioMarin guided 2026 total revenues of $3.33 billion to $3.42 billion with non-GAAP diluted EPS of $4.95 to $5.15, a range that excludes contributions from the pending Amicus Therapeutics acquisition — a deal that shareholders have already approved and that is expected to close in Q2 2026, adding Galafold and Pombiliti to the rare disease portfolio.

Key Takeaways
  • VOXZOGO revenue grew 31% Y/Y in Q4 driven by new patients initiating therapy across all regions and timing of large government orders, primarily in Latin America
  • Enzyme Therapies Q4 revenue increased 13% Y/Y driven by increased patient demand in all regions and timing of large government orders
  • PALYNZIQ delivered 25% Q4 and 22% full-year Y/Y revenue growth
  • Markets outside the U.S. drove approximately 73% of VOXZOGO revenue in full-year 2025
  • Strong patient demand across the portfolio fueled 13% Y/Y full-year total revenue growth

“In 2025, operational excellence led to strengthening financial results, including double-digit topline growth, strong profitability and increasing cash flow. We also advanced multiple medicines in our pipeline and closed the year by announcing the acquisition of Amicus.”

BioMarin CEO, on the earnings call

Forward Guidance & Outlook

For full-year 2026 (excluding post-close Amicus contributions), BioMarin guides total revenues of $3,325–$3,425 million, comprising Enzyme Therapies of $2,225–$2,275 million, VOXZOGO of $975–$1,025 million, and Other Revenues of $100–$125 million. Non-GAAP Diluted EPS is guided at $4.95–$5.15 (including approximately $0.25 of pre-close operating and interest expenses related to the Amicus transaction). Excluding Amicus impact, Non-GAAP Operating Margin is expected at approximately 40% for the full year. The company expects continued strong patient demand across Enzyme Therapies and VOXZOGO.

BMRN YoY Financials

Revenue$874.6M
Gross Profit$598.9M
Operating Income$-44,610,000
Net Income$-46,573,000

BMRN Revenue by Segment

VOXZOGO$273.0M+31.0%
VIMIZIM$206.0M+8.0%
NAGLAZYME$120.0M+9.0%
PALYNZIQ$125.0M+25.0%
ALDURAZYME$49.0M+26.0%
BRINEURA$49.0M+2.0%
KUVAN$23.0M−18.0%
ROCTAVIAN$13.0M+18.0%

Figures from SEC filings and company reports. Not investment advice.