Rhythm Pharmaceuticals (RYTM) financial statements
Rhythm Pharmaceuticals reported revenue of $190M in fiscal 2025, up 178.5% a year over 4 years.
Net income was -$197M.
Free cash flow was -$117M.
The diluted share count rose 537% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Rhythm Pharmaceuticals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $3M | $24M | $77M | $130M | $190M |
| Cost of revenue | — | — | — | — | — | $599,000 | $2M | $9M | $13M | $19M |
| Gross profit | — | — | — | — | — | $3M | $22M | $68M | $117M | $170M |
| Research and development | $20M | $23M | $50M | $109M | $90M | $104M | $109M | $135M | $238M | $167M |
| Selling, general and admin | $6M | $10M | $28M | $37M | $46M | $68M | $92M | $118M | $144M | $195M |
| Operating income | -$26M | -$32M | -$78M | -$146M | -$137M | -$170M | -$179M | -$184M | -$266M | -$192M |
| Interest expense | — | — | — | — | — | — | $5M | $14M | $21M | $21M |
| Pre-tax income | — | — | — | — | — | -$70M | -$181M | -$184M | -$260M | -$196M |
| Income tax | — | — | — | — | — | — | — | $564,000 | $346,000 | $497,000 |
| Net income | -$29M | -$34M | -$74M | -$141M | -$134M | -$70M | -$181M | -$185M | -$261M | -$197M |
| EPS (diluted) | -$2.85 | -$2.83 | -$2.39 | -$3.86 | -$3.04 | -$1.40 | -$3.47 | -$3.20 | -$4.34 | -$3.11 |
| Diluted shares | 10M | 13M | 31M | 36M | 44M | 50M | 52M | 58M | 61M | 65M |
| Gross margin | — | — | — | — | — | 81.0% | 91.0% | 88.0% | 89.7% | 89.7% |
| Operating margin | — | — | — | — | — | -5391.9% | -757.9% | -238.1% | -204.0% | -101.2% |
| Net margin | — | — | — | — | — | -2207.1% | -766.2% | -238.5% | -200.3% | -103.6% |
Balance sheet
Fiscal years, from Rhythm Pharmaceuticals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $11M | $148M | $252M | $292M | $173M | $295M | $333M | $276M | $321M | $389M |
| Receivables | — | — | — | — | — | $1M | $6M | $15M | $19M | $26M |
| Inventory | — | — | — | — | — | $111,000 | $3M | $9M | $19M | $26M |
| Total current assets | $11M | $151M | $259M | $302M | $182M | $308M | $354M | $308M | $374M | $467M |
| Property, plant and equipment | $930,000 | $840,000 | $1M | $4M | $3M | $3M | $2M | $1M | $632,000 | $1M |
| Total assets | $12M | $152M | $260M | $309M | $187M | $330M | $382M | $333M | $392M | $480M |
| Total current liabilities | $5M | $7M | $14M | $24M | $18M | $43M | $40M | $55M | $116M | $106M |
| Long-term debt | — | — | — | — | — | — | — | $106M | $108M | $101M |
| Total liabilities | $5M | $7M | $14M | $28M | $21M | $45M | $118M | $163M | $228M | $210M |
| Shareholders' equity | -$33M | $145M | $246M | $281M | $167M | $284M | $264M | $170M | $22M | $139M |
| Net debt | -$7M | -$34M | -$50M | -$62M | -$101M | -$59M | -$128M | $46M | $21M | $54M |
Cash flow
Fiscal years, from Rhythm Pharmaceuticals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$23M | -$29M | -$62M | -$123M | -$122M | -$146M | -$173M | -$136M | -$114M | -$116M |
| Capital spending | $1M | $133,000 | $722,000 | $3M | $214,000 | $434,000 | $281,000 | $47,000 | $0 | $953,000 |
| Free cash flow | -$24M | -$30M | -$63M | -$126M | -$122M | -$146M | -$174M | -$136M | -$114M | -$117M |
| Stock-based compensation | $1M | $2M | $6M | $12M | $17M | $21M | $20M | $33M | $40M | $67M |
| Net borrowing | — | — | — | — | — | — | $72M | $17M | -$13M | -$20M |
| Free cash flow margin | — | — | — | — | — | -4642.9% | -734.9% | -175.9% | -87.5% | -61.5% |
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Open RYTM in InvestinglyQuestions
What was Rhythm Pharmaceuticals's revenue in 2025?
$190M in fiscal 2025, from its 10-K filing.
How much free cash flow does Rhythm Pharmaceuticals generate?
-$117M in fiscal 2025 (operating cash flow minus capital spending).
From Rhythm Pharmaceuticals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.