AI English summary of an SEC filing — figures as filed
Biogen BIIBBiogen said total revenue for Q2 2024 was $2,465 million ($2,456 million a year earlier), with GAAP diluted EPS of $4.00 and Non-GAAP diluted EPS of $5.28. The company said the sale of 1 of its 2 priority review vouchers (PRV) added $0.52 per share to both GAAP and Non-GAAP diluted EPS.
Key points
AI summaryBiogen said total revenue for Q2 2024 was $2,465 million ($2,456 million a year earlier), with GAAP diluted EPS of $4.00 and Non-GAAP diluted EPS of $5.28. The company said the sale of 1 of its 2 priority review vouchers (PRV) added $0.52 per share to both GAAP and Non-GAAP diluted EPS.
Biogen said multiple sclerosis (MS) product revenue was $1,150 million in Q2 ($1,209 million a year earlier), and rare disease revenue was $534 million ($438 million a year earlier). Global revenue for SKYCLARYS in Q2 was $100 million.
The company said net cash flow from operations for Q2 was $626 million, and free cash flow, after deducting capital expenditures of $34 million, was $592 million. As of June 30, 2024, Biogen had cash, cash equivalents and marketable securities of about $1.9 billion, total debt of about $6.3 billion and net debt of about $4.4 billion.
Biogen said it raised its Non-GAAP diluted EPS guidance range for full-year 2024 to $15.75 to $16.25 from $15.00 to $16.00. The company said it now expects total revenue to decline by a low-single digit percentage, versus its prior outlook of a low to mid-single percentage decline.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Biogen Q2 Revenue, EPS and PRV Sale Impact
Biogen said total revenue for Q2 2024 was $2,465 million ($2,456 million a year earlier), with GAAP diluted EPS of $4.00 and Non-GAAP diluted EPS of $5.28. The company said the sale of 1 of its 2 priority review vouchers (PRV) added $0.52 per share to both GAAP and Non-GAAP diluted EPS.
Source · Based on the filing body and exhibits
Biogen Q2 Revenue by Franchise (MS and Rare Disease)
Biogen said multiple sclerosis (MS) product revenue was $1,150 million in Q2 ($1,209 million a year earlier), and rare disease revenue was $534 million ($438 million a year earlier). Global revenue for SKYCLARYS in Q2 was $100 million.
Source · Based on the filing body and exhibits
Biogen Q2 Operating and Free Cash Flow and Net Debt
The company said net cash flow from operations for Q2 was $626 million, and free cash flow, after deducting capital expenditures of $34 million, was $592 million. As of June 30, 2024, Biogen had cash, cash equivalents and marketable securities of about $1.9 billion, total debt of about $6.3 billion and net debt of about $4.4 billion.
Source · Based on the filing body and exhibits
Biogen Full-Year 2024 Non-GAAP EPS Outlook
Biogen said it raised its Non-GAAP diluted EPS guidance range for full-year 2024 to $15.75 to $16.25 from $15.00 to $16.00. The company said it now expects total revenue to decline by a low-single digit percentage, versus its prior outlook of a low to mid-single percentage decline.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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