Halozyme Therapeutics (HALO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Halozyme published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Halozyme reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Non-GAAP diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Halozyme reports in thousands of dollars; figures here are rounded to tenths of a million.
• Halozyme's Q4 2025 GAAP diluted loss of $1.20 a share included $284.9 million of acquired IPR&D expense for the Surf Bio acquisition.

Source: Halozyme Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Halozyme splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Halozyme's Royalties revenue was $341 million in Q3 2026, up 44% from $236 million in Q3 2025, 69% of total revenue.
• Halozyme's Product sales, net revenue was $137 million in Q3 2026, up 46% from $94.2 million in Q3 2025, 28% of total revenue.
• Halozyme's Revenues under collaborative agreements revenue was $14.6 million in Q3 2026, down 39% from $24.0 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Halozyme also guides 2026 Adjusted EBITDA of $1.240 billion to $1.290 billion. The EPS range includes about $60 million of new Hypercon and Aerocon investments and does not consider potential future share repurchases. Halozyme gives no GAAP EPS outlook.

In its Q3 2026 release, Halozyme said:

“The Company is raising its 2026 financial guidance ranges, which were last updated on August 6, 2026.”

“Total revenue of $1.860 billion to $1.925 billion, representing growth of 33% to 38% over 2025 total revenue, primarily driven by increases in royalty revenue and product sales from API.”

“Revenue from royalties of $1.235 billion to $1.255 billion, representing growth of 42% to 45% over 2025.”

“Non-GAAP diluted earnings per share of $8.75 to $9.05, representing growth of 111% to 118% over 2025.”

Source: Halozyme Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HALO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues and GAAP diluted EPS, each as first reported in that quarter's release, converted from thousands to millions.

We do not hold a confirmed date for Halozyme's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Halozyme's Q3 2026 total revenues were $493.0 million, up 39% from $354.3 million. Royalties were $341.0 million, up 44% from $236.0 million, product sales, net were $137.3 million and revenues under collaborative agreements $14.6 million. The royalties come from partners that sell drugs using ENHANZE, Halozyme's rHuPH20 enzyme technology for subcutaneous delivery. (Halozyme Q3 2026 release, Nov 5, 2026; Halozyme Form 10-Q, Q3 2026, Nov 5, 2026)

Three partner products drive most of Halozyme's royalties. DARZALEX (Janssen) royalties were $153.5 million, up 20%; VYVGART Hytrulo (argenx) $88.1 million, up 89%; and Phesgo (Roche) $34.3 million, up 23%. Other royalties rose 92% to $65.1 million. The 10-Q says the growth was partially diluted by earlier-launched partner products later in their life cycle that are seeing modest price erosion. (Halozyme Form 10-Q, Q3 2026, Nov 5, 2026)

Halozyme's product sales, net rose 46%. Bulk rHuPH20 sales to partners more than doubled to $70.6 million from $32.5 million on partner demand, proprietary product sales (XYOSTED and Hylenex) rose 6% to $55.6 million, and device partnered product sales rose 18% to $11.2 million. Halozyme expects bulk rHuPH20 and device sales to fluctuate with partners' needs. (Halozyme Form 10-Q, Q3 2026, Nov 5, 2026)

Collaborative revenue fell because sales-based milestones were $7.0 million, against $20.0 million a year earlier. During the quarter argenx nominated two more ENHANZE targets, for a total of eight, and Incyte expanded its collaboration. In October 2026 a Dutch patent court found Merck's European affiliate to be infringing one of Halozyme's MDASE patents and barred Keytruda Qlex in eight European markets. (Halozyme Form 10-Q, Q3 2026, Nov 5, 2026; Halozyme Q3 2026 release, Nov 5, 2026)

Halozyme's GAAP diluted EPS rose to $2.01 from $1.43 in Q3 2026, and its non-GAAP diluted EPS rose to $2.39 from $1.72. Non-GAAP EPS adds back amortization of intangible assets ($0.25 a share), share-based compensation ($0.15), intellectual property litigation costs against Merck ($0.07), amortization of debt discount ($0.02) and an inducement expense on convertible notes ($0.01), less an income tax effect of $0.17. (Halozyme Q3 2026 release, Nov 5, 2026)

Amortization of intangibles rose to $29.5 million from $17.8 million, and research and development expense to $27.8 million from $17.3 million, after the acquisitions of Elektrofi and Surf Bio in the fourth quarter of 2025. Cost of sales rose to $82.5 million from $55.2 million because of higher bulk rHuPH20 sales. The effective tax rate was 15.0%. (Halozyme Q3 2026 release, Nov 5, 2026; Halozyme Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted weighted average shares were 122,611 thousand on a GAAP basis and 118,883 thousand on Halozyme's non-GAAP basis, which adjusts for the dilutive effect of its convertible notes. Halozyme repurchased about 0.8 million shares for $67.2 million in Q3 2026, bringing 2026 repurchases to $400 million, and issued $1.50 billion of 1.50% convertible notes due 2033. (Halozyme Q3 2026 release, Nov 5, 2026; Halozyme Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Halozyme publishes full-year guidance in its release and raised it on November 5, 2026. It now expects 2026 total revenue of $1.860 billion to $1.925 billion (previously $1.835 to $1.910 billion), royalty revenue of $1.235 billion to $1.255 billion (previously $1.220 to $1.245 billion) and non-GAAP diluted EPS of $8.75 to $9.05 (previously $8.65 to $9.00). (Halozyme Q3 2026 release, Nov 5, 2026)

Halozyme's Adjusted EBITDA guidance is $1.240 billion to $1.290 billion. Both the EBITDA and EPS ranges include about $60 million of new Hypercon and Aerocon investments, and the EPS range does not consider potential future share repurchases. (Halozyme Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Halozyme, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Halozyme's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HALO is on is HALO a buy or a sell?, what analysts expect next is on the HALO forecast, and what the company does is on the Halozyme Therapeutics (HALO) stock page.

Every number on this page can be traced to a document Halozyme published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.