BioMarin Pharmaceutical (BM8) Q2 2026 Earnings Report
DE:BM8 Q2 2026 EPS Results
- Actual EPS
- EUR 1.07
- Consensus EPS
- EUR 0.85
- Beat/Miss
- Beat by +EUR 0.23
- One Year Ago EPS
- EUR 1.10
DE:BM8 Q2 2026 Revenue Results
- Actual Revenue
- EUR 892.16M
- Expected Revenue
- EUR 834.54M
- Beat/Miss
- Beat by +EUR 57.62M
- YoY Revenue Growth
- +20.41%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/06/2026
- Time
- After Close
- Conference Call
- Thursday, August 6, 2026
BioMarin Pharmaceutical's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
The call was strongly optimistic, driven by 20% revenue growth, raised full-year guidance, strong Voxzogo retention and patient growth, rapid Amicus integration, substantial synergy expectations, and a broader commercial and clinical pipeline. Offsetting factors included year-over-year EPS pressure from acquisition financing and higher expenses, near-term Amicus dilution, Voxzogo competitive switching, order-timing variability, diagnostic challenges, and pending legal and clinical uncertainties. Highlights significantly outweighed the lowlights.
BioMarin raised full year 2026 total revenues, Voxzogo revenue, and non GAAP diluted earnings per share guidance, reflecting double digit growth from the midpoint, with Voxzogo revenue guidance for over $1 billion and full year total revenues and Voxzogo at the low end of $1 billion; third quarter revenue is expected to be slightly higher than the second quarter, fourth quarter revenue is expected to be the strongest quarter and represent well over 50% of second half revenue, third quarter non GAAP earnings per share is expected to be slightly higher than Q2, and fourth quarter non GAAP earnings per share is expected to be significantly higher and the highest quarterly earnings per share of the year. Galafold is projected to reach $1.4 billion peak revenue by the mid 20 thirties, with an approximately 10% CAGR from 2027 to 2032, while Pombility and Opfolda are estimated at $1.2 billion peak revenue by the mid- to late 2030s, growing at a greater than or equal to 20% CAGR from 2027 to 2032; approximately $220 million of synergies are expected to be fully realized in 2028, representing a roughly 50% reduction from Amicus' 2025 non GAAP operating expenses of $432 million, with more than 70% from G&A, half to slightly more than half realized next year, non GAAP diluted EPS accretion beginning in 2027, combined non GAAP operating margin over 60% by 2030, and deleveraging approximately 1 year sooner than initially communicated.
- Second-Quarter Revenue GrowthSecond-quarter total revenue reached nearly $1 billion, representing 20% year-over-year growth, supported by a more diversified portfolio and strong commercial execution.
- Amicus Acquisition IntegrationBioMarin successfully closed and integrated Amicus following the April acquisition close, with the integration described as well underway and on track. The company said the transaction is delivering value ahead of expectations.
- Amicus Product Revenue PotentialBioMarin estimated peak revenue of $1.4 billion for Galafold and $1.2 billion for Pombility and Opfolda, for a combined peak revenue potential of $2.6 billion.
- Amicus Commercial MomentumOn a pro forma basis, second-quarter Galafold revenue grew approximately 10% year over year, while Pombility and Opfolda revenue grew over 65%. Growth was supported by patient identification, diagnosis, reimbursed access, patient additions, and expansion into newer geographies.
- Metabolic Conditions Business GrowthTotal metabolic conditions revenue was $695 million, growing 25% year over year, and the number of patients on therapy increased both year over year and sequentially across every marketed metabolic conditions brand.
- Palynziq Performance and Label ExpansionPalynziq revenue grew 27% year over year, supported by continued patient demand and order timing in the United States. European and U.S. label expansions now provide access to adolescents aged 12 and older with PKU.
- Voxzogo Revenue and Patient GrowthVoxzogo revenue grew 14% year over year in the second quarter, driven by double-digit growth in both U.S. and international markets. The number of children treated globally grew more than 20% year over year, and approximately three-quarters of revenue was generated outside the United States.
- Voxzogo Patient Retention and Under-Two MomentumApproximately 90% of U.S. children treated with Voxzogo remained on therapy as of the end of July following the competitor's launch. More than half of new U.S. patient starts were in the under-two age group, where Voxzogo remains the only approved treatment for children two and younger.
- Voxzogo Guidance IncreaseBioMarin raised full-year Voxzogo revenue guidance and said the product remains on track to become its first $1 billion product. The guidance increase reflected strong second-quarter performance, U.S. and global patient and revenue growth, and a favorable outcome from one international price negotiation.
- Voxzogo Hypochondroplasia SubmissionBioMarin submitted a supplemental NDA for Voxzogo for hypochondroplasia based on pivotal Phase 3 data. The company reduced the time from database lock to filing to 79 days using parallel work processing and technological advancements. Full Phase 3 data are scheduled for presentation as a late-breaking oral presentation in September.
- Galafold Growth StrategyBioMarin projected Galafold peak revenue of $1.4 billion by the mid-2030s, compared with a $522 million 2025 base, and approximately 10% CAGR from 2027 to 2032. The strategy includes scaling AI-enabled patient identification, genetic testing, newborn screening, family cascade screening, deeper penetration in existing markets, and selective geographic expansion.
- Pombility and Opfolda Growth StrategyBioMarin projected peak revenue of $1.2 billion for Pombility and Opfolda by the mid- to late 2030s and growth at a greater than or equal to 20% CAGR from 2027 to 2032. Growth initiatives include patient switching, global market expansion, improved diagnosis and treatment rates, and planned expansion into more than 20 additional markets.
- Amicus Cost SynergiesBioMarin expects approximately $220 million of annual cost synergies to be fully realized in 2028, representing a roughly 50% reduction from Amicus' 2025 non-GAAP operating expenses of $432 million. More than 70% of the synergies are expected to come from G&A, with the remainder coming primarily from R&D.
- Expected Profitability and Cash Flow ExpansionThe company expects substantial non-GAAP diluted EPS accretion beginning in 2027, increased operating cash flow, and expanding operating margins. Galafold and Pombility and Opfolda combined are expected to reach over 60% non-GAAP operating margin by 2030.
- Earlier Deleveraging TargetBioMarin said its rapid integration and growth plans should enable it to deleverage approximately one year sooner than initially communicated.
- Pipeline Expansion with BMN 28The Amicus acquisition added BMN 28, formerly DMX-200, a first-in-class oral CCR2 inhibitor in Phase 3 development for focal segmental glomerulosclerosis. BioMarin holds exclusive U.S. commercialization rights, and Phase 3 data are expected in 2028.
- BMN 28 Unmet-Need OpportunityBioMarin said FSGS has an estimated 30,000 addressable U.S. patients, only one approved therapy, and a significant unmet need for durable stabilization of kidney function. BMN 28 has shown a favorable safety and tolerability profile to date, and the FDA agreed that proteinuria is an appropriate approval endpoint.
- BMN 33 Development ProgressBMN 33 Phase 2 enrollment is active across multiple countries and time zones, with the company entering the steep part of the enrollment curve. BioMarin expects to answer the key growth question in 2027 and said the seamless Phase 2/Phase 3 design may accelerate recruitment and site startup.
- Investment in AI and Commercial ExecutionBioMarin said investments in AI capabilities helped establish a new standard for execution by accelerating the Voxzogo hypochondroplasia submission. The company also plans incremental investment to accelerate Galafold and Pombility and Opfolda growth, described as a modest portion of the identified synergies.
- Updated Full-Year 2026 GuidanceBioMarin raised full-year total revenue, Voxzogo revenue, and non-GAAP diluted EPS guidance based on first-half performance and expectations for the balance of the year. Management said the updated guidance reflects double-digit growth from the midpoint.
- Expected Second-Half Revenue PhasingThe company expects third-quarter revenue to be slightly higher than second-quarter revenue, while fourth quarter is expected to be the strongest quarter of the year, with a significant step-up versus Q3 and well over 50% of second-half revenue primarily due to ordering dynamics in select markets.
- Future Business DevelopmentAs it deleverages, BioMarin expects to pursue deals to expand its clinical-stage programs over the next 12 to 18 months, while continuing research collaborations and seeking a steady flow of products at all stages of development.
DE:BM8 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | 1.50- | -0.21 | ― | ― |
| Nov 02, 2026 | 2026 (Q3) | -0.070.21 | -0.14 | 243.75% (+0.35) | |
| Aug 06, 2026 | 2026 (Q2) | 0.851.07 | 1.1 | -2.44% (-0.03) | |
| May 04, 2026 | 2026 (Q1) | 0.620.68 | 0.85 | -20.00% (-0.17) | |
| Feb 23, 2026 | 2025 (Q4) | 0.15-0.21 | 0.57 | -137.50% (-0.79) | |
| Oct 27, 2025 | 2025 (Q3) | -0.25-0.14 | 0.49 | -129.09% (-0.64) | |
| Aug 04, 2025 | 2025 (Q2) | 0.771.10 | 0.49 | 123.64% (+0.61) | |
| May 01, 2025 | 2025 (Q1) | 0.640.85 | 0.41 | 106.52% (+0.44) | |
| Feb 19, 2025 | 2024 (Q4) | 0.480.57 | 0.1 | 481.82% (+0.47) | |
| Oct 29, 2024 | 2024 (Q3) | 0.480.49 | 0.19 | 161.90% (+0.30) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
