Filing Flows › Harmony Biosciences Holdings (HRMY) › Q3 2025
Harmony Biosciences Holdings (HRMY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Harmony Biosciences Holdings (HRMY) reported revenue of $239M for the third quarter 2025 (Q3 2025), +29% from a year earlier and +19% from the quarter before. Operating margin was 27.3%, net earnings $50.9M (21.2% of revenue).
Harmony Biosciences Holdings, Q3 2025: revenue $239M (+29% year over year), operating margin 27.3%, net earnings $50.9M, operating cash flow $109M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $239M | +19% | +29% |
| Gross profit | $180M | +11% | +26% |
| Operating profit | $65.5M | +36% | +6% |
| Net earnings | $50.9M | +28% | +10% |
| Operating cash flow | $109M | +37% | +54% |
| Free cash flow | $109M | +37% | +54% |
What changed
Revenue was $239.5M in Q3 2025, up 29% year over year and up 19% from the previous quarter.
Gross margin was 75.1%, down 1.9 points from a year earlier. Operating profit was $65.5M, a 27.3% margin (down 5.8 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, below the 33% margin then. Operating expenses grew 40% against revenue growth of 29%. The fastest-growing cost line was Research & development (+116%). Net earnings were $50.9M, up 10% year over year. The effective tax rate was 24.6%.
Operating cash flow was $108.7M (up 54% year over year), 214% of net earnings. Non-cash charges added back $6.0M of depreciation and amortization and $11.0M of share-based compensation. Working capital and other items added $40.9M. Capital expenditures of $71K left free cash flow of $108.7M.
Questions
What was Harmony Biosciences Holdings' revenue in the third quarter 2025?
Harmony Biosciences Holdings (HRMY) reported revenue of $239M for the third quarter 2025 (Q3 2025), +29% from a year earlier and +19% from the quarter before.
Was Harmony Biosciences Holdings profitable in the third quarter 2025?
Operating profit was $65.5M (27.3% of revenue) and net earnings $50.9M.