← Harmony Biosciences Holdings, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenues | ||||||||||
| Gross profit | — | — | $4.4m | $132.0m | $249.9m | $354.4m | $460.8m | $557.9m | $670.1m | |
| Research and development | — | — | $69.6m | $19.4m | $30.4m | $70.9m | $76.1m | $145.8m | $189.6m | |
| Total operating expenses | — | — | $150.3m | $115.0m | $162.4m | $234.2m | $268.8m | $367.1m | $461.6m | |
| Operating income | — | — | ($145.9m) | $17.0m | $87.5m | $120.2m | $192.0m | $190.8m | $208.5m | |
| Net product revenue | — | — | $6.0m | $159.7m | $305.4m | $437.9m | $582.0m | $714.7m | $868.5m | |
| Sales and marketing | — | — | $44.3m | $55.8m | $68.1m | $79.3m | $97.4m | $110.9m | $119.5m | |
| General and administrative | — | — | $36.4m | $39.7m | $63.9m | $84.0m | $95.3m | $110.4m | $152.5m | |
| Loss on debt extinguishment | $0 | $8.6m | $5.5m | ($22.6m) | ($26.1m) | — | ($9.8m) | — | — | |
| Interest income | — | — | — | — | $224k | $3.1m | $14.7m | $18.5m | $21.9m | |
| Unrealized income on investments | — | — | — | — | — | ($151k) | $153k | $64k | $280k | |
| Comprehensive income | ($318.5m) | ($212.8m) | ($108.0m) | ($36.9m) | $34.6m | $181.3m | $129.0m | $145.6m | $159.0m | |
| Net premiums earned | $2.3b | $2.2b | $2.3b | $2.5b | $2.4b | $2.7b | $2.6b | $2.9b | $2.8b | |
| Net Investment Income | $189.0m | $198.2m | $197.3m | $154.6m | $147.5m | $188.1m | $275.7m | $318.0m | $326.3m | |
| Gain (loss) on investments | $148.9m | $110.0m | $97.1m | $98.5m | $56.2m | $5.0m | $75.9m | $52.6m | $61.4m | |
| Change in fair value of derivatives | ($27.7m) | $31.8m | $144.2m | $65.1m | $35.9m | $80.5m | $26.1m | ($21.1m) | $47.5m | |
| Realized and unrealized investment losses (3) | $28.4m | $174.7m | $10.9m | $27.4m | $47.4m | $182.6m | ($61.4m) | ($102.1m) | ($72.3m) | |
| Net realized and unrealized foreign exchange losses | $23.9m | $3.5m | ($9.6m) | ($13.8m) | $40.0m | $15.9m | ($36.2m) | $60.2m | ($78.5m) | |
| Change in net unrealized gains/(losses) on available for sale securities held | ($10.8m) | ($86.5m) | $171.7m | $175.6m | ($137.2m) | ($447.2m) | $86.0m | ($25.3m) | $128.0m | |
| Net change from current period hedged transactions | $3.0m | ($2.1m) | $4.8m | $300k | ($6.2m) | $15.4m | ($14.0m) | ($6.5m) | $6.7m | |
| Change in foreign currency translation adjustment | ($56.4m) | $21.5m | ($28.2m) | ($11.9m) | $21.4m | ($30.9m) | $14.4m | ($14.1m) | $51.6m | |
| Other comprehensive income, before income taxes | ($68.2m) | ($61.9m) | $141.5m | $96.9m | ($142.4m) | ($407.2m) | $126.6m | $13.5m | $229.3m | |
| Change in net unrealized (gains)/losses on available for sale securities held | $1.6m | $5.5m | ($13.6m) | ($500k) | ($300k) | $23.9m | ($14.0m) | $6.8m | ($25.4m) | |
| Other comprehensive income, net of tax | ($50.8m) | ($66.0m) | $130.3m | $96.4m | ($142.7m) | ($383.3m) | $106.0m | $10.2m | $191.8m | |
| Preference share dividends | — | — | — | — | $44.5m | $44.6m | ($49.9m) | ($54.9m) | ($45.5m) | |
| Other income | $8.9m | $9.0m | $4.9m | $49.8m | $14.7m | $8.2m | $0 | $0 | — | |
| Income (loss) from operations before income taxes | ($281.8m) | ($156.0m) | ($216.6m) | ($38.0m) | $35.1m | ($27.0m) | $402.6m | $464.1m | — | |
| Reclassification adjustment for net realized losses on investments included in net /(loss) | — | — | — | — | $0 | $0 | $6.6m | — | — | |
| Related party fees | — | — | — | ($10.3m) | ($10.8m) | — | — | — | — | |
| Interest on long-term debt | $29.5m | $25.9m | $20.2m | $33.9m | $14.3m | — | — | — | — | |
| Change in fair value of loan notes issued by variable interest entities | ($21.2m) | $4.4m | $3.1m | $0 | $0 | — | — | — | — | |
| Amount attributable to non-controlling interest | ($1.3m) | ($1.0m) | $1.2m | $0 | $0 | — | — | — | — | |
| Change in net unrealized gains on available for sale securities held | — | — | ($800k) | $0 | $0 | — | — | — | — | |
| Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax | $15.8m | ($9.2m) | ($3.2m) | $0 | $0 | — | — | — | — | |
| Equity method investment, realized gain (loss) on disposal | — | — | — | $10.4m | — | — | — | — | — | |
| Income before income taxes | — | — | ($152.0m) | ($36.9m) | $37.4m | $104.7m | $173.4m | $191.8m | $215.1m | |
| Net income | ($267.7m) | ($146.8m) | ($152.0m) | ($36.9m) | $34.6m | $181.5m | $128.9m | $145.5m | $158.7m | |
| Reclassification adjustment for net realized losses on investments included in net income | $400k | ($700k) | $6.8m | ($67.1m) | ($20.4m) | $55.5m | $40.2m | $59.4m | $43.0m | |
| Net income (loss) available to ordinary shareholders, basic | — | — | — | — | ($14.7m) | $6.5m | $484.8m | $431.2m | $290.3m | |
| Net income/(loss) | ($266.4m) | ($145.8m) | ($239.5m) | ($56.4m) | $29.8m | $51.1m | $128.9m | $145.5m | $158.7m | |
| Reclassification adjustment for net realized (losses)/gains on investments included in net income | ($4.0m) | $5.2m | ($6.8m) | ($67.1m) | — | — | — | — | — | |
| Basic | — | — | ($24.07) | ($2.48) | $0.60 | $3.07 | $2.17 | $2.56 | $2.76 | |
| Diluted | — | — | ($24.07) | ($2.48) | $0.58 | $2.97 | $2.13 | $2.51 | $2.71 | |
| Weighted average number of shares of common stock - basic | — | — | 7.8m | 25.8m | 57.5m | 59.2m | 59.5m | 56.9m | 57.5m | |
| Weighted average number of shares of common stock - diluted | — | — | 7.8m | 25.8m | 59.2m | 61.1m | 60.4m | 57.9m | 58.5m | |
| Cost of product sold | — | — | $1.6m | $27.7m | $55.5m | $83.5m | $121.2m | $156.8m | $198.3m | |
| Other (expense) income, net | — | — | — | ($3.1m) | $16k | $169k | $159k | ($68k) | ($680k) | |
| Interest expense | — | — | — | $33.9m | ($24.2m) | ($18.8m) | ($23.8m) | ($17.5m) | ($14.6m) | |
| Income tax expense | $15.4m | $10.2m | ($22.9m) | ($18.4m) | ($2.8m) | $76.8m | ($44.5m) | ($46.3m) | ($56.4m) | |
| Losses and loss adjustment expenses | $2.0b | $1.6b | $1.7b | $1.8b | $1.7b | $1.7b | ($1.6b) | ($1.7b) | ($1.5b) | |
| Acquisition costs | $400.5m | $371.6m | $412.7m | $465.7m | $414.1m | $431.8m | ($380.2m) | ($420.2m) | ($422.4m) | |
| General, administrative and corporate expenses | $502.2m | $491.7m | $521.6m | $410.9m | $418.0m | $494.2m | ($503.6m) | ($533.1m) | ($671.4m) | |
| Other expenses | $4.9m | $2.7m | $1.7m | $10.8m | $10.8m | $20.1m | $0 | $0 | — | |
| Total expenses | $2.9b | $2.7b | $2.8b | $2.9b | $2.6b | $2.9b | ($2.6b) | ($2.8b) | ($2.8b) | |
| Total income tax (expense) allocated to other comprehensive income | $17.4m | ($4.1m) | ($11.2m) | ($500k) | ($300k) | $23.9m | ($20.6m) | ($3.3m) | ($37.5m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.