Biomarin 2025 Q2 Earnings Net Income Surges 124%

Biomarin (BMRN) reported Q2 2025 earnings that significantly outperformed expectations, with net income and EPS surging well above prior-year levels. The company also raised full-year guidance, reflecting strong revenue growth, pipeline advancements, and strategic acquisitions.

Revenue
Biomarin's total revenue increased by 15.9% year-over-year to $825.41 million in Q2 2025, driven primarily by robust demand for its therapies. The company's net product revenue stood at $812.98 million, while royalty and other revenue added $12.43 million. The standout performance came from VOXZOGO, which saw a 20% year-over-year revenue increase, and Enzyme Therapies, which collectively grew 15% year-over-year. VIMIZIM and PALYNZIQ were particularly strong contributors, with 21% and 20% growth, respectively. However, KUVAN revenue declined due to ongoing generic competition.

Earnings/Net Income
Biomarin's net income surged 124.4% to $240.53 million in Q2 2025, compared to $107.17 million in the same period the previous year. Earnings per share (EPS) also rose dramatically, increasing 123.2% to $1.25. This represents a significant earnings beat and reflects strong operational efficiency and cost management. The company's profitability metrics, including operating margins and EPS growth, exceeded expectations, indicating a highly successful quarter. The EPS performance is exceptionally strong and indicates robust profitability.

Price Action
The stock price of Biomarin declined slightly by 2.22% during the latest trading day, but it showed a positive trend over the past week with a 6.35% gain and a 7.70% increase month-to-date. This suggests that while the market has had a mixed reaction in the short term, investor sentiment remains largely bullish over a broader timeframe.

Post Earnings Price Action Review
A strategy of buying Biomarin stock when it beat earnings and holding for 30 days yielded a negative 51.53% return, significantly underperforming the benchmark return of 85.42%. This strategy had a maximum drawdown of 0.00%, a Sharpe ratio of -0.40, and a volatility of 34.11%. These metrics highlight the high volatility and risk associated with post-earnings trading strategies for the stock, indicating a need for careful risk management.

CEO Commentary
Alexander Hardy, CEO of BioMarin, highlighted the company's strong second-quarter performance, driven by global demand for innovative therapies, which led to double-digit revenue growth and expanded profitability. He emphasized key pipeline progress, including BMN 333's successful healthy volunteer study, which is now advancing toward a pivotal 2026 study. Hardy also noted the strategic acquisition of Inozyme, adding BMN 401 for ENPP1 Deficiency, as a milestone. Looking ahead, the CEO expressed confidence in the company's ability to deliver for patients, employees, and shareholders in the remainder of 2025 and beyond.

Guidance
Biomarin raised its full-year 2025 guidance for Total Revenues, Non-GAAP Operating Margin, and Non-GAAP Diluted EPS. Total Revenues are now projected to be in the range of $3.125 billion to $3.200 billion, with Non-GAAP Operating Margin expected to be 33% to 34%. Non-GAAP Diluted EPS is anticipated to range between $4.40 and $4.55. These updates reflect sustained growth, operational efficiency, and the anticipated benefits of international adoption of Voxogo and demand for enzyme therapies. However, Q3 2025 is expected to face margin pressure due to the timing of expenses and revenue skewed toward Q4.

Additional News
BioMarin completed the acquisition of Inozyme in July 2025, adding BMN 401, a potential first-in-disease treatment for ENPP1 Deficiency. This acquisition is expected to enhance the company’s Enzyme Therapies portfolio and support future revenue growth. Additionally, BMN 333 exceeded targeted exposures of Free C-type Natriuretic Peptide in a healthy volunteer study, paving the way for a pivotal Phase 2/3 study in 2026. The company also announced plans to expand PALYNZIQ age eligibility for treating adolescents with phenylketonuria in the second half of 2025. These strategic moves underscore BioMarin’s commitment to innovation and expanding its market reach.