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Harmony Biosciences Holdings (HRMY) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Harmony Biosciences Holdings (HRMY) Q3 2026 earnings results →

Q3 2026 Revenue up 12% year over year to $269M · 18¢ of every $1 of revenue kept as net profit · operating margin 20.2%

Harmony Biosciences Holdings made $269M in Q3 2026 (+12% Y/Y). Operating margin 20.2%, net earnings $48.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$269M
Year over year+12%
Operating margin20.2%
Net earnings$48.2M
Operating cash flow$76.7M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $268.9M in Q3 2026, up 12% year over year and up 3% from the previous quarter.

Gross margin was 70.0%, down 5.1 points from Q3 2025. Operating profit was $54.2M, a 20.2% margin (down 7.2 points year over year). Operating profit fell $11.3M even though revenue rose $29.5M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 17% against revenue growth of 12%. The fastest-growing cost line was Research & development (+30%). Net earnings were $48.2M, down 5% year over year. The effective tax rate was 18.7%.

Operating cash flow was $76.7M (down 29% year over year), 159% of net earnings. Non-cash charges added back $6.0M of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items added $14.5M.

Quarterly history

Harmony Biosciences Holdings revenue by quarterHarmony Biosciences Holdings revenue by quarter$185MQ1 2025$200MQ2 2025$239MQ3 2025$244MQ4 2025$215MQ1 2026$261MQ2 2026$269MQ3 2026
Harmony Biosciences Holdings net earnings by quarterHarmony Biosciences Holdings net earnings by quarter$45.6MQ1 2025$39.8MQ2 2025$50.9MQ3 2025$22.5MQ4 2025$32.5MQ1 2026$75.4MQ2 2026$48.2MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$269M+12%20.2%$48.2M$76.7M
Q2 202610-QAug 4, 2026$261M+30%34.2%$75.4M$92.4M
Q1 202610-QMay 7, 2026$215M+17%17.3%$32.5M$27.8M
Q4 202510-KFeb 24, 2026$244M+21%15.8%$22.5M$126M
Q3 202510-QNov 4, 2025$239M+29%27.3%$50.9M$109M
Q2 202510-QAug 5, 2025$200M+16%24.0%$39.8M$79.3M
Q1 202510-QMay 6, 2025$185M+20%30.4%$45.6M$34.0M

Charts

Harmony Biosciences Holdings: revenue growth, year over year and quarter over quarterHarmony Biosciences Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+20%Q1 2025+16%+9%Q2 2025+29%+19%Q3 2025+21%+2%Q4 2025+17%-12%Q1 2026+30%+21%Q2 2026+12%+3%Q3 2026
Latest (Q3 2026): Y/Y +12%, Q/Q +3%.
Harmony Biosciences Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Harmony Biosciences Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Other investing−$325MOperating cash flow$323MShares issued$26.5MNet borrowing (+) / repaid (−)−$20.0MTaxes on employees’ shares−$4.3MCash drawn (+) / kept (−)−$100K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Harmony Biosciences Holdings: profit against cash, quarter by quarterHarmony Biosciences Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$49.5M$75.6MQ4 2024$45.6M$34.0MQ1 2025$39.8M$79.3MQ2 2025$50.9M$109MQ3 2025$22.5M$126MQ4 2025$32.5M$27.8MQ1 2026$75.4M$92.4MQ2 2026$48.2M$76.7MQ3 2026
Latest (Q3 2026): Net income $48.2M, Operating cash flow $76.7M.
Harmony Biosciences Holdings: diluted shares by fiscal yearHarmony Biosciences Holdings: diluted shares by fiscal year26MFY202059MFY202161MFY202260MFY202358MFY202459MFY2025
+127.2% since FY2020: more shares outstanding (issuance, stock pay).
Harmony Biosciences Holdings: long-term debt falling due (FY2025)Harmony Biosciences Holdings: long-term debt falling due (FY2025)$20.0M2026$20.0M2027$125M2028
Cash $753M, short-term investments $22.8M, long-term debt $164M at 2025-12-31.
Harmony Biosciences Holdings in its industry: growth against margin (225 companies, SIC 2834)Harmony Biosciences Holdings in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMHRMY (+12%, 20%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Harmony Biosciences Holdings

We are cultivating a differentiated neuroscience company, rooted in innovation and driven by a commitment to addressing the unmet needs of patients living with neurological diseases. To date, we have focused on rare neurological diseases with a growing portfolio now spanning sleep/wake, rare epilepsy, and neurobehavioral and we are harnessing scientific insights and pioneering approaches to advance meaningful treatments that help patients thrive. In July 2017, we entered into a License Agreement (as amended, the “2017 LCA”) with Bioprojet Société Civile de Recherche (“Bioprojet”) whereby we acquired the exclusive right to commercialize the pharmaceutical compound pitolisant. Our lead product, WAKIX® (pitolisant) (“WAKIX”), is a first-in-class therapy with a novel mechanism of action designed to enhance histamine signaling in the brain by binding to H 3 receptors.

In its own words, from its 10-K, filed Feb 24, 2026.

Harmony Biosciences Holdings against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +10%. Operating margin: 20.2% against the peers' median 20.4%.

CompanyQuarterRevenueY/YOp. margin
HRMY Harmony Biosciences HoldingsQ3 2026$269M+12%20.2%
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: Harmony Biosciences Holdings 10-Q on SEC EDGAR · CIK 1802665 · Pharmaceutical Preparations

Guidance and outlook

Harmony Biosciences Holdings: what its forward-looking statements are about (10-Q filed 2026-11-04)Harmony Biosciences Holdings: what its forward-looking statements are about (10-Q filed 2026-11-04)Other8Demand6Products4Legal & regulation4Supply chain3Costs3Financing1
29 statements; tone +0.28 (−1 all cautious, +1 all confident); 4 hedged.
Harmony Biosciences Holdings: outlook statements against the filing beforeHarmony Biosciences Holdings: outlook statements against the filing beforeConfident8

13F: who owns HRMY and who is buying

Largest holders of HRMY (13F)Largest holders of HRMY (13F)BlackRock$259MVanguard Group$180MFMR LLC$130MVanguard Portfolio Management LLC$105MAmerican Century Companies$92.5MDimensional Fund Advisors LP$87.1MVanguard Capital Management LLC$76.6MState Street$67.7MArmistice Capital, LLC$56.9MGeode Capital Management, LLC$52.5M
Funds' net buying of HRMY by quarter (13F)Funds' net buying of HRMY by quarter (13F)−$7.2M2024-09−$175M2024-12−$93.9M2025-03$24.5M2025-06−$116M2025-09$85.7M2025-12$114M2026-03−$53.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on HRMY

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Harmony Biosciences Holdings（HRMY）财报

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