Biotech company BioMarin Pharmaceutical (NASDAQ:BMRN) beat Wall Street’s revenue expectations in Q1 CY2025, with sales up 14.8% year on year to $745.1 million. The company expects the full year’s revenue to be around $3.15 billion, close to analysts’ estimates. Its non-GAAP profit of $1.13 per share was 18.6% above analysts’ consensus estimates.

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BioMarin Pharmaceutical (BMRN) Q1 CY2025 Highlights:

"During the first quarter, we saw continued high demand for our innovative medicines resulting in strong revenue growth and profitability," said Alexander Hardy, President and Chief Executive Officer of BioMarin.

Company Overview

Pioneering treatments for conditions that often had no previous therapeutic options, BioMarin Pharmaceutical (NASDAQ:BMRN) develops and commercializes therapies that address the root causes of rare genetic disorders, particularly those affecting children.

Sales Growth

Examining a company’s long-term performance can provide clues about its quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Luckily, BioMarin Pharmaceutical’s sales grew at a decent 10.3% compounded annual growth rate over the last five years. Its growth was slightly above the average healthcare company and shows its offerings resonate with customers.

Long-term growth is the most important, but within healthcare, a half-decade historical view may miss new innovations or demand cycles. BioMarin Pharmaceutical’s annualized revenue growth of 16.5% over the last two years is above its five-year trend, suggesting its demand recently accelerated.

This quarter, BioMarin Pharmaceutical reported year-on-year revenue growth of 14.8%, and its $745.1 million of revenue exceeded Wall Street’s estimates by 1%.

Looking ahead, sell-side analysts expect revenue to grow 9.1% over the next 12 months, a deceleration versus the last two years. Despite the slowdown, this projection is commendable and implies the market sees success for its products and services.

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Operating Margin

BioMarin Pharmaceutical was profitable over the last five years but held back by its large cost base. Its average operating margin of 7.1% was weak for a healthcare business.

On the plus side, BioMarin Pharmaceutical’s operating margin rose by 27.3 percentage points over the last five years, as its sales growth gave it immense operating leverage. Zooming in on its more recent performance, we can see the company’s trajectory is intact as its margin has also increased by 17.4 percentage points on a two-year basis. These data points are very encouraging and shows momentum is on its side.

In Q1, BioMarin Pharmaceutical generated an operating profit margin of 30%, up 16.4 percentage points year on year. This increase was a welcome development and shows it was more efficient.

Earnings Per Share

Revenue trends explain a company’s historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions.

BioMarin Pharmaceutical’s EPS grew at an astounding 22.8% compounded annual growth rate over the last five years, higher than its 10.3% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.

We can take a deeper look into BioMarin Pharmaceutical’s earnings to better understand the drivers of its performance. As we mentioned earlier, BioMarin Pharmaceutical’s operating margin expanded by 27.3 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its higher earnings; taxes and interest expenses can also affect EPS but don’t tell us as much about a company’s fundamentals.

In Q1, BioMarin Pharmaceutical reported EPS at $1.13, up from $0.70 in the same quarter last year. This print easily cleared analysts’ estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects BioMarin Pharmaceutical’s full-year EPS of $3.89 to grow 14.6%.

Key Takeaways from BioMarin Pharmaceutical’s Q1 Results

We enjoyed seeing BioMarin Pharmaceutical beat analysts’ EPS expectations this quarter. We were also happy its revenue narrowly outperformed Wall Street’s estimates. Overall, this print had some key positives. The stock remained flat at $63.21 immediately after reporting.

Sure, BioMarin Pharmaceutical had a solid quarter, but if we look at the bigger picture, is this stock a buy? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it’s free .