Jazz Q4 2022 Revenue Grows 8% To $972M, Provides Outlook

Jazz Pharmaceuticals plc JAZZ Q4 2022 revenue was $972.12 million an 8% increase compared to 896.73 million in Q4 2021.

Financial Highlights

• GAAP net loss for 2022 was $(224.1) million, or $(3.58) per diluted share, compared to $(329.7) million, or $(5.52) per diluted share, for 2021.

• GAAP net loss for Q4 2022 was $(240.7) million, or $(3.82) per diluted share, compared to $(35.4) million, or $(0.57) per diluted share, for Q4 2021.

• Net revenue for 2022 was $3.7 billion, an 18% increase compared to $3.1 billion in 2021.

• As of December 31, 2022, cash and cash equivalents were $881.5 million, and the outstanding principal balance of the company's long-term debt was $5.8 billion compared to $6.4 billion as of December 31, 2021. In addition, the company had undrawn borrowing capacity under a revolving credit facility of $500 million.

"2022 was a year of significant execution across our business that exemplified our purpose to innovate to transform the lives of patients and their families and advanced Jazz towards achieving vision 2025. Our substantial top-line growth was led by the strength of our commercial franchises, including the continued adoption of Xywav across both narcolepsy and idiopathic hypersomnia, meaningful Epidiolex growth, and robust demand for Rylaze, driven by critical unmet patient need," stated Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals.

2023 Financial Guidance
Jazz Pharmaceuticals' full year 2023 financial guidance is as follows:

• Revenues $3.675 - $3.875 billion

• Gross margin 89%

• Net income $410 - $560 million

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