← Harmony Biosciences Holdings, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $1.1b | $24.5m | $228.6m | $234.3m | $243.8m | $311.7m | $453.0m | $752.5m | |
| Trade receivables, net | — | $4.3m | $22.2m | $34.8m | $54.7m | $74.1m | $83.0m | $96.8m | |
| Inventory, net | — | $1.1m | $3.8m | $4.4m | $4.3m | $5.4m | $7.2m | $5.4m | |
| Prepaid expenses | — | $1.4m | $7.0m | $7.6m | $9.3m | $12.6m | $13.7m | $16.0m | |
| Other current assets | — | $261k | $1.3m | $3.2m | $8.8m | $5.5m | $8.1m | $13.5m | |
| Short-term investments, available for sale | — | — | $87.8m | $10.1m | $52.0m | $93.6m | $261.9m | $45.4m | |
| Short-term investments, trading at fair value | — | — | $35.4m | $2.0m | $6.3m | $2.1m | $1.0m | $0 | |
| Premiums Receivable, Net | $1.5b | $1.3b | $1.2b | $1.3b | $1.5b | $1.4b | $1.6b | $1.7b | |
| Other receivables | $121.2m | $114.3m | $135.2m | $153.0m | $179.4m | — | — | — | |
| Receivables for securities sold | $3.2m | $5.1m | $1.4m | $19.4m | $13.5m | — | — | — | |
| Short term investments available for sale, amortized cost | — | $117.6m | $88.0m | — | — | — | — | — | |
| Short-term investments, trading, amortized cost | — | $79.2m | $35.4m | — | — | — | — | — | |
| Premium Receivable, Allowance for Credit Loss | — | $23.0m | $34.0m | — | — | — | — | — | |
| Total current assets | — | $31.5m | $262.9m | $284.4m | $400.3m | $451.1m | $579.3m | $907.0m | |
| Intangible assets, net | — | $72.2m | $162.3m | $143.9m | $161.0m | $137.1m | $113.3m | $89.4m | |
| Intangible assets and goodwill | $26.3m | $23.9m | $22.8m | $21.9m | $21.8m | $21.7m | $19.9m | $19.9m | |
| Other noncurrent assets | — | $941k | $152k | $3.5m | $2.8m | $6.3m | $5.9m | $18.4m | |
| Right-of-use operating lease assets | $0 | $93.5m | $74.1m | $83.4m | $72.8m | $61.6m | $53.5m | $43.4m | |
| Other assets | $0 | $1.6m | $8.4m | $8.3m | $384.2m | $309.6m | $590.8m | $360.4m | |
| Investments, short-term | — | — | — | — | $79.3m | $41.8m | $14.2m | $22.8m | |
| Investments, long-term | — | — | — | — | $22.6m | $72.2m | $108.9m | $107.1m | |
| Deferred tax asset | $35.4m | $0 | — | $0 | $85.9m | $144.2m | $190.4m | $149.7m | |
| Trade payables | — | $6.4m | $2.6m | $1.0m | $3.8m | $17.7m | $13.7m | $17.7m | |
| Other current liabilities | — | $115k | $314k | $1.4m | $1.6m | $7.8m | $5.7m | $5.0m | |
| Fixed income securities, available-for-sale | — | — | — | — | — | $4.1b | $4.7b | $5.0b | |
| Fixed income securities, trading | — | — | — | — | — | $1.5b | $1.2b | $1.0b | |
| Catastrophe bonds, trading at fair value (amortized cost — 2025: $0.0 and 2024: $1.0) | $36.2m | $28.6m | $18.8m | $3.4m | $2.9m | $1.6m | $1.0m | $0 | |
| Privately-held Investments, available for sale, at fair value | — | — | — | — | $0 | $14.9m | $24.2m | $50.5m | |
| Privately-held Investments | $0 | $279.7m | $299.3m | $307.1m | $533.0m | $475.0m | $286.8m | $121.8m | |
| Equity investments, trading | — | — | — | — | — | — | $0 | $8.1m | |
| Investments, equity method | $67.1m | $67.9m | $900k | $3.9m | $6.2m | $7.6m | $7.3m | $9.6m | |
| Other Investments | $102.5m | $111.4m | $109.4m | $151.3m | $221.3m | $209.3m | $267.2m | $279.6m | |
| Investments, Excluding Derivative Assets | $6.7b | $6.8b | $5.8b | $6.5b | $6.1b | $6.4b | $6.7b | $6.6b | |
| Unpaid losses recoverable from reinsurers (net of allowance for expected credit losses of 2025: $16.2 and 2024: $27.5) | $2.1b | $2.3b | $3.2b | $3.3b | $4.9b | $4.6b | $4.2b | $4.3b | |
| Ceded unearned premiums | $558.8m | $443.7m | $453.7m | $596.1m | $737.3m | $733.5m | $901.7m | $968.6m | |
| Deferred acquisition costs | $248.5m | $291.1m | $306.6m | $290.8m | $319.0m | $296.2m | $322.1m | $357.2m | |
| Derivative assets | $14.6m | $12.9m | $26.8m | $12.9m | $56.2m | $31.7m | $17.0m | $5.0m | |
| Income taxes refundable | $0 | $4.5m | $3.4m | $6.4m | $20.8m | $4.3m | $900k | $2.5m | |
| Liability for Claims and Claims Adjustment Expense | $7.1b | $7.0b | $7.2b | $7.6b | $7.7b | $7.8b | $8.1b | $8.7b | |
| Unearned Premiums | $1.7b | $1.7b | $1.8b | $2.1b | $2.5b | $2.4b | $2.6b | $2.7b | |
| Reinsurance premiums | $421.2m | $439.6m | $572.8m | $575.7m | $2.0b | $1.4b | $901.1m | $520.3m | |
| Income taxes payable | $100k | $2.7m | $8.8m | $4.4m | $10.9m | $12.6m | $6.8m | $18.7m | |
| Payables for securities purchased | $700k | $2.2m | $0 | $44.6m | $6.9m | $22.3m | $36.9m | $0 | |
| Operating lease liabilities | $0 | $113.2m | $106.0m | $115.2m | $95.5m | $86.1m | $75.6m | $64.7m | |
| Derivative liabilities | $15.1m | $87.2m | $13.6m | $13.3m | $34.9m | $25.8m | $49.5m | $12.1m | |
| Preference shares, value | $0 | $0 | $0 | — | $753.5m | $753.5m | $970.5m | $699.9m | |
| Debt Securities, Available-for-sale | $5.2b | $5.0b | $4.3b | $4.9b | $3.8b | $4.1b | — | — | |
| Debt Securities, Trading | $1.2b | $1.2b | $855.6m | $1.2b | $1.5b | $1.5b | — | — | |
| Funds withheld | $91.8m | $85.0m | $98.0m | $103.7m | $102.6m | — | — | — | |
| Office properties and equipment | $73.1m | $64.8m | $77.4m | $114.5m | $81.3m | — | — | — | |
| Non-controlling interest | $3.7m | $0 | $0 | — | — | — | — | — | |
| Plus reinsurance recoverable on unpaid losses at the end of the year | — | $2.3b | $3.2b | — | — | — | — | — | |
| Preference shares, par value | — | $0 | $0 | — | — | — | — | — | |
| Fixed income securities, available for sale amortized cost | — | $4.8b | $4.1b | — | — | — | — | — | |
| Available-for-sale, net of allowance for expected credit losses | — | $600k | $200k | — | — | — | — | — | |
| Unpaid losses (1) (net of allowance for expected credit losses of $3.8 — $Nil) | — | $3.7m | $3.8m | — | — | — | — | — | |
| Total noncurrent assets | — | $75.2m | $164.2m | $149.0m | $273.6m | $360.4m | $419.9m | $364.6m | |
| Total noncurrent liabilities | — | $98.4m | $195.4m | $193.2m | $192.1m | $180.7m | $165.0m | $149.3m | |
| Total insurance reserves | $8.8b | $8.7b | $9.0b | $9.7b | $10.2b | $10.2b | $10.8b | $11.5b | |
| Total shareholders' equity | $2.6b | $2.7b | $2.9b | $2.8b | $2.4b | $2.9b | $3.4b | $3.6b | |
| Total payables | $684.5m | $865.7m | — | — | — | — | — | — | |
| TOTAL ASSETS | $12.5b | $106.7m | $427.1m | $433.4m | $673.9m | $811.4m | $999.2m | $1.3b | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $12.5b | $106.7m | $427.1m | $433.4m | $673.9m | $811.4m | $999.2m | $1.3b | |
| Accrued compensation | — | $7.9m | $8.9m | $9.2m | $11.5m | $23.7m | $18.8m | $18.4m | |
| Accrued expenses | — | $5.5m | $122.7m | $40.2m | $59.9m | $99.5m | $120.6m | $191.0m | |
| Current portion of long-term debt | — | — | — | $2.0m | $2.0m | $15.0m | $16.2m | $20.0m | |
| Accrued expenses and other payables | $247.4m | $220.8m | $214.4m | $289.3m | $201.8m | $214.4m | $237.2m | $317.1m | |
| Short-Term Debt | — | — | — | $0 | $299.9m | $300.0m | $300.0m | $296.8m | |
| Total current liabilities | — | $19.9m | $134.5m | $53.8m | $78.9m | $163.8m | $175.1m | $252.1m | |
| Long-term debt, net | — | $97.9m | $194.2m | $190.0m | $189.6m | $178.6m | $163.0m | $143.7m | |
| Other noncurrent liabilities | — | $163k | $893k | $3.2m | $2.5m | $2.1m | $1.9m | $5.6m | |
| Deferred tax liabilities | — | — | $5.2m | $2.8m | $900k | $1.6m | $1.1m | $4.0m | |
| Long-term debt | $424.7m | $299.8m | $299.9m | $299.9m | $0 | $300.0m | — | — | |
| Liabilities, excluding long-term debt | — | $865.7m | $905.2m | — | — | — | — | — | |
| TOTAL LIABILITIES | $9.9b | $118.3m | $329.9m | $246.9m | $271.0m | $344.5m | $340.0m | $401.4m | |
| COMMITMENTS AND CONTINGENCIES (Note 13) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| 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 | 90k | 604k | 1k | 1k | 1k | 1k | 1k | 1k | |
| Additional paid in capital | — | — | $585.4m | $640.1m | $675.1m | $610.3m | $656.9m | $709.0m | |
| Accumulated other comprehensive income | ($121.9m) | $8.6m | $19.7m | ($123.0m) | ($151k) | $2k | $66k | $346k | |
| Retained earnings | $1.8b | ($422.9m) | ($488.2m) | ($453.6m) | ($272.1m) | ($143.3m) | $2.2m | $160.9m | |
| Additional paid-in capital (7) | $967.5m | $1.2b | $1.5b | $1.5b | $761.2m | $761.2m | $761.7m | $803.4m | |
| Preferred Stock, Shares Issued | — | $31.0m | $31.0m | — | — | — | — | — | |
| TOTAL STOCKHOLDERS' EQUITY | ($422.9m) | $97.2m | $186.5m | $402.8m | $467.0m | $659.2m | $870.2m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.