Harmony Biosciences Holdings, Inc.

Listed Company

HRMYCIK 0001802665NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$868.45M

Net Income

$158.69M

Total Assets

$1.27B

Equity

$870.22M

Shares Out

57.84M

Op. Cash Flow

$348.20M

Business

Harmony Biosciences Holdings, Inc. is a neuroscience company developing and commercializing treatments for rare neurological diseases. Its main commercial product is WAKIX (pitolisant) and it advances a pipeline including next-generation pitolisant formulations, orexin agonist BP1.15205, ZYN-002 for neurobehavioral disorders, EPX-100/200 for rare epilepsies, and HBS-102. The company organizes activities across sleep/wake, neurobehavioral and rare epilepsy franchises, comprising commercial and clinical development programs. It principally markets through specialty distributors in the United States and holds licensed rights for the U.S. and Latin America while conducting global clinical development.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net product revenue	868	715	582	438	305
Cost of product sold	198	157	121	83	56
Gross profit	670	558	461	354	250
Research and development	190	146	76	71	30
Sales and marketing	120	111	97	79	68
General and administrative	153	110	95	84	64
Total operating expenses	462	367	269	234	162
Operating income	208	191	192	120	88
Loss on debt extinguishment	—	—	−10	—	−26
Other (expense) income, net	−680,000	−68,000	159,000	169,000	16,000
Interest expense	−15	−17	−24	−19	—
Interest income	22	19	15	3	224,000
Income before income taxes	215	192	173	105	37
Income tax expense	−56	−46	−45	77	−3
Net income	159	145	129	181	35
Unrealized income on investments	280,000	64,000	153,000	−151,000	—
Comprehensive income	159	146	129	181	35
Basic	2.76	2.56	2.17	3.07	0.6
Diluted	2.71	2.51	2.13	2.97	0.58
Weighted average number of shares of common stock - basic	57	57	59	59	58
Weighted average number of shares of common stock - diluted	59	58	60	61	59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	753	453	312	244	234
Investments, short-term	23	14	42	79	—
Trade receivables, net	97	83	74	55	35
Inventory, net	5	7	5	4	4
Prepaid expenses	16	14	13	9	8
Other current assets	14	8	6	9	3
Total current assets	907	579	451	400	284
Investments, long-term	107	109	72	23	—
Intangible assets, net	89	113	137	161	144
Deferred tax asset	150	190	144	86	—
Other noncurrent assets	18	7	6	3	4
Total noncurrent assets	365	420	360	274	149
TOTAL ASSETS	1,272	999	811	674	433
Trade payables	18	14	18	4	1
Accrued compensation	18	19	24	12	—
Accrued expenses	191	121	99	60	—
Current portion of long-term debt	20	16	15	2	2
Other current liabilities	5	6	8	2	1
Total current liabilities	252	175	164	79	54
Long-term debt, net	144	163	179	190	190
Other noncurrent liabilities	6	2	2	3	3
Total noncurrent liabilities	149	165	181	192	193
TOTAL LIABILITIES	401	340	344	271	247
COMMITMENTS AND CONTINGENCIES (Note 13)	—	—	—	—	—
Common stock-$0.00001 par value; 500,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 57,726,170 and 57,144,887 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	1,000	1,000	1,000	1,000	1,000
Additional paid in capital	709	657	610	675	640
Accumulated other comprehensive income	346,000	66,000	2,000	−151,000	—
Retained earnings	161	2	−143	−272	−454
TOTAL STOCKHOLDERS' EQUITY	870	659	467	403	187
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,272	999	811	674	433

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	159	145	129	181	35
Depreciation and impairment of long-lived assets	1	267,000	514,000	—	—
Intangible amortization	24	24	24	23	18
Acquired in-process research & development (IPR&D) expense	34	44	2	—	—
Stock-based compensation	45	43	32	26	16
Stock appreciation rights market adjustment	65,000	99,000	−499,000	732,000	446,000
Debt issuance costs amortization	647,000	700,000	2	2	2
Deferred taxes	−7	−29	−13	−86	—
Amortization of premiums and accretion of discounts on Investment securities	−2	−2	−3	−432,000	—
Other non-cash expenses	1	2	2	2	—
Trade receivables	−14	−9	−19	−20	−13
Inventory	2	−2	−1	135,000	−609,000
Prepaid expenses and other assets	32	−3	74,000	−8	−2
Trade payables	4	−5	9	3	−2
Other liabilities	68	12	46	20	—
Net cash provided by operating activities	348	220	219	144	99
Purchase of investment securities	−86	−105	−127	−111	—
Proceeds from maturities and sales of investment securities	81	99	118	9	—
Purchase of property and equipment	−310,000	−1	−312,000	−172,000	−298,000
Payment of milestones	−19	−1	—	−40	−100
Payment of upfront fee related to license agreements	−15	−26	—	—	—
Net cash used in investing activities	−40	−67	−46	−142	−100
Proceeds from long-term debt	—	—	200	—	200
Debt issuance costs	—	—	−3	—	−9
Extinguishment of debt	—	—	−197	—	−200
Extinguishment of debt exit fees	—	—	−6	—	−22
Principal repayment of long-term debt	−16	−15	−5	−2	−500,000
Repurchase of common stock	—	—	−100	—	—
Payments of employee withholding taxes related to stock-based awards	−3	−2	−514,000	—	—
Proceeds from exercised options	10	7	5	9	9
Net cash used in financing activities	−9	−11	−106	7	7
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	300	141	67	9	6
Cash paid during the year for interest	15	17	20	16	20
Cash paid during the year for income taxes net of refunds received	20	80	48	13	3

Filings

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