Key Highlights

  • BMRN reported third quarter 2026 Revenue of $1,025 million, up 32% from $776 million a year earlier.
  • GAAP net loss widened to $123 million, or $0.63 per share, from $31 million a year ago.
  • Non-GAAP diluted EPS was $0.23 versus $0.12 a year earlier, with non-GAAP Operating Margin at 13.4%.
  • Metabolic Conditions revenue rose 44% to $744 million, while VOXZOGO revenue grew 12% to $245 million.
  • Full-year 2026 revenue guidance fell to $3.80 billion to $3.90 billion from $3.875 billion to $3.925 billion.

Amicus Deal Pushes Revenue Past $1 Billion for the First Time

BioMarin (NASDAQ:BMRN) reported results for the third quarter ended Sep 30, 2026, on Nov 2, 2026. Total revenue was $1,025 million, up 32% from $776 million a year earlier and the first quarter above $1 billion in the company's history. The San Rafael, California-based company develops medicines for rare, genetically defined diseases and markets nine therapies.

Metabolic Conditions revenue rose 44% to $744 million. GALAFOLD contributed $152 million and POMBILITI plus OPFOLDA added $49 million in their first full quarter after the Amicus Acquisition closed on Apr 27, 2026. VIMIZIM grew 18% to $216 million, while NAGLAZYME fell 11% to $108 million on international order timing.

VOXZOGO revenue climbed 12% to $245 million, and children treated rose 17% worldwide.

Acquisition Costs and a $288 Million Research Charge Drive a $123 Million GAAP Loss

The GAAP net loss was $123 million, or $0.63 per share, compared with a loss of $31 million, or $0.16, a year ago. The company pointed to intangible amortization, interest on acquisition debt, inventory step-up amortization, integration costs and acquired in-process Research and Development of $287.7 million tied to the Alesta deal. GAAP operating margin was negative 8.0%.

Non-GAAP income more than doubled to $45 million, or $0.23 per diluted share, from $22 million, or $0.12. Non-GAAP operating margin rose to 13.4% from 2.8%.

For the nine months, revenue was $2,781 million, up 18%, and GAAP Net Income fell to $27 million from $395 million. Cash and equivalents were $736 million at quarter end versus $1,312 million at Dec 31, 2025, and long-term debt, net, was $3,515 million.

A Deferred International Order Trims 2026 Revenue Guidance

BioMarin now expects 2026 total revenue of $3,800 million to $3,900 million, down from $3,875 million to $3,925 million in August, implying about 20% growth at the midpoint. Metabolic Conditions guidance is $2,675 million to $2,750 million and VOXZOGO is $975 million to $1,025 million.

Management said a single international customer deferred multiple orders totaling roughly $70 million, with most expected to ship between late in the fourth quarter and the first quarter of 2027. It also cited customer Cash Flow disruption tied to Middle East conflict, not patient demand.

Non-GAAP diluted EPS guidance dropped to $2.80 to $3.10 from $4.90 to $5.10. The company attributed about $1.55 of the change to the Alesta acquisition and about $0.32 to the BMN 450 Fabry license, plus lower revenue.

Regulatory Dates for VOXZOGO and Pipeline Additions Shape the Next Milestones

The FDA set a May 30, 2027 action date for VOXZOGO in hypochondroplasia, and the EMA validated a parallel filing. A decision on full approval of VOXZOGO in children with achondroplasia is due Feb 28, 2027.

The next checkpoints are the deferred orders expected around the turn of the year and the company's fourth quarter report. Cost synergies of about $280 million on a GAAP basis are still expected to be fully realized in 2028.