Updated
HappenHAPN · Financial Services
$15.96-1.36%
Market cap$1.8B
IndustryBanks - Regional
Happen (HAPN) Financial statements
Happen reported revenue of $999M in fiscal 2025, up 8.0% a year over 9 years.
Key figures
Net income was $136M. Free cash flow was -$2.9B. The diluted share count rose 51% over the period (dilution).
- Revenue, FY2025
- $999M+26.9% on 2024
- Net income
- $136M+164.3% on 2024
- Operating margin
- —
- Free cash flow
- -$2.9B+6.7% on 2024
Revenue and free cash flow
Fiscal years, from Happen's 10-K filings.
Happen revenue and free cash flow
FY2016–FY2025HAPNRevenue$999MHAPNFree cash flow-$2.9B
Margins
How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.
Happen margins
FY2016–FY2025HAPNNet margin14%
Financial statements
Fiscal 2016–2025.
Happen income statement, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $501M | $575M | $695M | $759M | $315M | $819M | $1.2B | $865M | $787M | $999M |
| Research and development | $115M | $142M | $155M | $168M | $139M | — | — | — | — | — |
| Selling, general and admin | $424M | $422M | $497M | $518M | $292M | — | — | — | — | — |
| Interest expense | $688M | $571M | $386M | $247M | $150M | $80M | $83M | $271M | $374M | $336M |
| Pre-tax income | -$150M | -$153M | -$128M | -$31M | -$188M | $18M | $153M | $55M | $65M | $177M |
| Income tax | -$4M | $632,000 | $43,000 | -$201,000 | -$79,000 | -$136,000 | -$137M | $16M | $14M | $41M |
| Net income | -$146M | -$154M | -$128M | -$31M | -$188M | $19M | $290M | $39M | $51M | $136M |
| EPS (diluted) | -$1.90 | -$1.88 | -$1.52 | -$0.35 | — | $0.18 | $2.79 | $0.36 | $0.45 | $1.16 |
| Diluted shares | 78M | 82M | 85M | 87M | — | 102M | 104M | 108M | 113M | 117M |
| Net margin | -29.1% | -26.8% | -18.5% | -4.1% | -59.6% | 2.3% | 24.4% | 4.5% | 6.5% | 13.6% |
Happen balance sheet, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $516M | $402M | $373M | $244M | $525M | $764M | $1.1B | $1.3B | $977M | $930M |
| Property, plant and equipment | $89M | $102M | $114M | $114M | $97M | $98M | $136M | $162M | $168M | $254M |
| Goodwill | $36M | $36M | $0 | $0 | $0 | $76M | $76M | $76M | $76M | $76M |
| Total assets | $5.6B | $4.6B | $3.8B | $3.0B | $1.9B | $4.9B | $8.0B | $8.8B | $10.6B | $11.6B |
| Long-term debt | — | $32M | — | — | — | — | — | — | — | — |
| Total liabilities | $4.6B | $3.7B | $2.9B | $2.1B | $1.1B | $4.1B | $6.8B | $7.6B | $9.3B | $10.1B |
| Shareholders' equity | $976M | $922M | $869M | $900M | $724M | $850M | $1.2B | $1.3B | $1.3B | $1.5B |
| Net debt | -$516M | -$370M | -$373M | -$244M | -$525M | -$764M | -$1.1B | -$1.3B | -$977M | -$930M |
Happen cash flow, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $545,000 | -$573M | -$640M | -$271M | $418M | $240M | $376M | -$1.1B | -$2.6B | -$2.7B |
| Capital spending | $52M | $45M | $53M | $51M | $31M | $34M | $69M | $60M | $54M | $140M |
| Free cash flow | -$51M | -$618M | -$693M | -$321M | $387M | $205M | $306M | -$1.2B | -$2.7B | -$2.9B |
| Stock-based compensation | $69M | $71M | $75M | $74M | $62M | $67M | $66M | $52M | $40M | $34M |
| Dividends paid | — | — | $0 | $0 | $50M | $0 | $0 | — | — | — |
| Share buybacks (net) | -$19M | $0 | $0 | $0 | — | — | — | — | — | — |
| Net borrowing | $0 | — | — | -$14M | -$14M | -$3M | -$15M | — | — | — |
| Free cash flow margin | -10.2% | -107.6% | -99.7% | -42.4% | 122.9% | 25.1% | 25.8% | -138.3% | -341.6% | -287.1% |
How Happen compares
Happen's net margin is higher than 45% of Financial Services companies and 79% of the 3,396 companies with a net margin figure.
| Higher than | Financial Services | All stocks |
|---|---|---|
| Net margin | 45% | 79% |
| Revenue growth | 47% | 54% |
| ROE | 64% | 67% |
| P/E | 17% | 12% |
Questions about Happen
What was Happen's revenue in 2025?
$999M in fiscal 2025, from its 10-K filing.
How much free cash flow does Happen generate?
-$2.9B in fiscal 2025 (operating cash flow minus capital spending).
From Happen's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.