Harmony Biosciences Holdings (HRMY) financial statements
Harmony Biosciences Holdings reported revenue of $868M in fiscal 2025, up 129.2% a year over 6 years.
Net income was $159M and the operating margin 24.0%, against -2433.8% in 2019.
Free cash flow was $348M.
The diluted share count rose 653% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Harmony Biosciences Holdings's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $6M | $160M | $305M | $438M | $582M | $715M | $868M |
| Cost of revenue | $2M | $28M | $56M | $83M | $121M | $157M | $198M |
| Gross profit | $4M | $132M | $250M | $354M | $461M | $558M | $670M |
| Research and development | $70M | $19M | $30M | $71M | $76M | $146M | $190M |
| Selling, general and admin | $81M | $96M | $132M | $163M | $193M | $221M | $272M |
| Operating income | -$146M | $17M | $88M | $120M | $192M | $191M | $208M |
| Interest expense | $7M | $29M | $24M | $19M | $24M | $17M | $15M |
| Pre-tax income | -$152M | -$37M | $37M | $105M | $173M | $192M | $215M |
| Income tax | — | — | $3M | -$77M | $45M | $46M | $56M |
| Net income | -$152M | -$37M | $35M | $181M | $129M | $145M | $159M |
| EPS (diluted) | -$24.07 | -$2.48 | $0.58 | $2.97 | $2.13 | $2.51 | $2.71 |
| Diluted shares | 8M | 26M | 59M | 61M | 60M | 58M | 59M |
| Gross margin | 73.7% | 82.6% | 81.8% | 80.9% | 79.2% | 78.1% | 77.2% |
| Operating margin | -2433.8% | 10.6% | 28.7% | 27.4% | 33.0% | 26.7% | 24.0% |
| Net margin | -2535.1% | -23.1% | 11.3% | 41.4% | 22.1% | 20.4% | 18.3% |
Balance sheet
Fiscal years, from Harmony Biosciences Holdings's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $24M | $229M | $234M | $323M | $353M | $467M | $775M |
| Receivables | $4M | $22M | $35M | $55M | $74M | $83M | $97M |
| Inventory | $1M | $4M | $4M | $4M | $5M | $7M | $5M |
| Total current assets | $31M | $263M | $284M | $400M | $451M | $579M | $907M |
| Property, plant and equipment | $1M | $938,000 | $820,000 | $573,000 | $371,000 | $1M | — |
| Total assets | $107M | $427M | $433M | $674M | $811M | $999M | $1.3B |
| Total current liabilities | $20M | $135M | $54M | $79M | $164M | $175M | $252M |
| Long-term debt | $98M | $194M | $190M | $190M | $179M | $163M | $144M |
| Total liabilities | $118M | $330M | $247M | $271M | $344M | $340M | $401M |
| Shareholders' equity | -$423M | $97M | $187M | $403M | $467M | $659M | $870M |
| Net debt | $73M | -$34M | -$42M | -$52M | -$118M | -$274M | -$589M |
Cash flow
Fiscal years, from Harmony Biosciences Holdings's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$75M | -$3M | $99M | $144M | $219M | $220M | $348M |
| Capital spending | $149,000 | $2,000 | $298,000 | $172,000 | $312,000 | $1M | $310,000 |
| Free cash flow | -$76M | -$3M | $98M | $144M | $219M | $219M | $348M |
| Stock-based compensation | $10M | $5M | $16M | $26M | $32M | $43M | $45M |
| Share buybacks (net) | — | -$167,000 | — | — | -$100M | — | — |
| Net borrowing | $100M | $200M | $200M | -$2M | $195M | -$15M | -$16M |
| Free cash flow margin | -1260.8% | -1.9% | 32.2% | 33.0% | 37.6% | 30.6% | 40.1% |
Questions
What was Harmony Biosciences Holdings's revenue in 2025?
$868M in fiscal 2025, from its 10-K filing.
How much free cash flow does Harmony Biosciences Holdings generate?
$348M in fiscal 2025 (operating cash flow minus capital spending).
From Harmony Biosciences Holdings's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.