Strong Revenue Growth
Total revenue increased 35% year-over-year to $265 million, with royalty revenue increasing by 39% to $168 million. Adjusted EBITDA increased to $162 million and non-GAAP EPS increased to $1.11, both representing approximately 40% year-over-year growth. Net income grew 54% to $118 million.
Successful Blockbuster Products
DARZALEX subcutaneous sales increased 22% year-over-year to $3.2 billion, Phesgo sales increased 52% to approximately $675 million, and VYVGART Hytrulo contributed significantly to revenue growth. These blockbusters are expected to sustain growth for years.
New Growth Catalysts
11 new growth catalysts were identified, including approvals and market expansions for DARZALEX, Phesgo, and VYVGART Hytrulo, expected to drive growth for multiple years.
Share Repurchase Program
The company announced a $250 million share repurchase plan for 2025, continuing a trend of delivering high IRR through buybacks.
Increased 2025 Guidance
Full-year revenue guidance was raised to $1.2 billion to $1.28 billion, representing year-over-year growth of 18% to 26%.