Krystal Biotech (KRYS) financial statements
Krystal Biotech reported revenue of $389M in fiscal 2025, up 177.0% a year over 2 years.
Net income was $205M.
Free cash flow was $189M.
The diluted share count rose 3313% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Krystal Biotech's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $0 | $0 | $51M | $291M | $389M |
| Cost of revenue | — | — | — | — | — | $0 | $0 | $3M | $20M | $23M |
| Gross profit | — | — | — | — | — | $0 | $0 | $48M | $270M | $366M |
| Research and development | $741,000 | $3M | $8M | $16M | $18M | $28M | $42M | $46M | $54M | $58M |
| Selling, general and admin | $402,000 | $2M | $4M | $6M | $15M | $40M | $78M | $98M | $114M | $147M |
| Operating income | -$1M | -$5M | -$12M | -$22M | -$33M | -$68M | -$145M | -$110M | $66M | $161M |
| Interest expense | — | — | — | — | $0 | $1M | $0 | $0 | — | — |
| Pre-tax income | — | — | — | — | — | -$70M | -$140M | $13M | $95M | $189M |
| Income tax | — | $0 | $0 | $0 | $0 | $0 | $0 | $2M | $6M | -$15M |
| Net income | -$1M | -$8M | -$11M | -$19M | -$32M | -$70M | -$140M | $11M | $89M | $205M |
| EPS (diluted) | -$1.31 | -$1.48 | -$0.97 | -$1.20 | -$1.71 | -$3.13 | -$5.49 | $0.39 | $3.00 | $6.84 |
| Diluted shares | 1M | 5M | 11M | 16M | 19M | 22M | 25M | 28M | 30M | 30M |
| Gross margin | — | — | — | — | — | — | — | 93.9% | 93.1% | 94.1% |
| Operating margin | — | — | — | — | — | — | — | -216.2% | 22.6% | 41.5% |
| Net margin | — | — | — | — | — | — | — | 21.6% | 30.7% | 52.6% |
Balance sheet
Fiscal years, from Krystal Biotech's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2M | $50M | $112M | $194M | $271M | $438M | $379M | $532M | $598M | $828M |
| Receivables | — | — | — | — | — | — | $0 | $42M | $105M | $127M |
| Inventory | — | — | — | — | — | — | $0 | $7M | $27M | $40M |
| Total current assets | $2M | $50M | $113M | $196M | $275M | $442M | $384M | $588M | $742M | $1.0B |
| Property, plant and equipment | $13,000 | $200,000 | $3M | $8M | $31M | $112M | $162M | $161M | $155M | $151M |
| Total assets | $2M | $50M | $116M | $209M | $311M | $626M | $558M | $818M | $1.1B | $1.3B |
| Total current liabilities | $43,000 | $640,000 | $3M | $3M | $15M | $26M | $29M | $33M | $102M | $103M |
| Total liabilities | $2M | $640,000 | $3M | $6M | $19M | $33M | $36M | $40M | $109M | $114M |
| Shareholders' equity | $289,000 | $49M | $113M | $203M | $292M | $594M | $522M | $779M | $946M | $1.2B |
| Net debt | -$2M | -$50M | -$104M | -$188M | -$268M | -$341M | -$162M | -$358M | -$345M | -$496M |
Cash flow
Fiscal years, from Krystal Biotech's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1M | -$4M | -$9M | -$19M | -$26M | -$48M | -$101M | -$89M | $123M | $201M |
| Capital spending | $15,000 | $210,000 | $2M | $6M | $15M | $68M | $53M | $12M | $4M | $12M |
| Free cash flow | -$1M | -$4M | -$12M | -$25M | -$41M | -$116M | -$154M | -$101M | $119M | $189M |
| Stock-based compensation | $33,000 | $246,000 | $792,000 | $1M | $3M | $15M | $33M | $40M | $49M | $55M |
| Free cash flow margin | — | — | — | — | — | — | — | -198.4% | 41.0% | 48.5% |
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Open KRYS in InvestinglyQuestions
What was Krystal Biotech's revenue in 2025?
$389M in fiscal 2025, from its 10-K filing.
How much free cash flow does Krystal Biotech generate?
$189M in fiscal 2025 (operating cash flow minus capital spending).
From Krystal Biotech's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.