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Harmony Biosciences Holdings (HRMY) Q1 FY2024 earnings: revenue $155 million, up 29.8% on the year

Harmony Biosciences Holdings, Inc. (HRMY) reported revenue of $155 million for Q1 FY2024, the quarter ended 31 March 2024, up 29.8% on the same quarter a year earlier. Net income was $38 million, up 30.0% on the year, and diluted earnings per share $0.67. The figures are the company's own, from the 10-Q it filed with the SEC on 30 April 2024.

Revenue$155 millionup 29.8%
Net income$38 millionup 30.0%
Diluted EPS$0.67
QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Revenue155168n/an/a
Cost of revenue27.543.2n/an/a
Gross profit127125n/an/a
Gross margin82.2%74.4%n/a
Research and development22.230.3n/an/a
Operating income52.040.2n/an/a
Operating margin33.7%23.9%n/a
Interest expense4.54.8n/an/a
Pre-tax income51.839.7n/an/a
Income tax13.513.1n/an/a
Effective tax rate26.0%33.0%n/a
Net income38.326.6n/an/a
Net margin24.8%15.8%n/a
Diluted EPS$0.67$0.45n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Operating cash flow31.176.7n/an/a
Capital expenditure0.0n/an/an/a
Free cash flow31.1n/an/an/a
Free cash flow margin20.1%n/an/a
Cash from investing-6.2-36.1n/an/a
Cash from financing-3.6-53.5n/an/a
Depreciation and amortisation6.16.1n/an/a
Share-based compensation10.48.9n/an/a
Diluted shares, weighted58m59mn/an/a
Shares outstanding at period end57m57mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Shareholders' equity515467n/an/a
Debt190194n/an/a
Operating lease liabilities1.31.1n/an/a
Other liabilities140150n/an/a
Total liabilities and equity847811n/an/a
Fixed assets0.20.4n/an/a
Intangible assets131137n/an/a
Investments121114n/an/a
Cash and equivalents333312n/an/a
Receivables79.774.1n/an/a
Inventory5.95.4n/an/a
Other assets176169n/an/a
Total assets847811n/an/a

Questions

What was Harmony Biosciences Holdings' revenue in Q1 FY2024?

Harmony Biosciences Holdings (HRMY) reported revenue of $155 million for Q1 FY2024, the quarter ended 31 March 2024, up 29.8% on the same quarter a year earlier.

How much did Harmony Biosciences Holdings earn in Q1 FY2024?

Net income for Q1 FY2024 was $38 million, up 30.0% on the year, and diluted earnings per share $0.67.

When did Harmony Biosciences Holdings report Q1 FY2024 results?

Harmony Biosciences Holdings filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 30 April 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue160168155173186201185200239244215261
Cost of revenue32.343.227.532.142.854.432.038.259.668.544.563.2
Gross profit128125127141143147153162180175171198
Gross margin80%74%82%81%77%73%83%81%75%72%79%76%
R&D17.530.322.263.625.434.734.550.255.049.969.446.6
Operating income64.540.252.021.461.755.756.248.265.538.637.389.3
Operating margin40%24%34%12%33%28%30%24%27%16%17%34%
Interest expense7.04.84.54.44.34.23.83.63.63.53.23.1
Pre-tax income51.839.751.821.762.256.257.249.667.540.839.793.3
Tax rate26%33%26%47%26%12%20%20%25%45%18%19%
Net income38.526.638.311.646.149.545.639.850.922.532.575.4
Net margin24%16%25%7%25%25%25%20%21%9%15%29%
Diluted EPS$0.63$0.45$0.67$0.20$0.79$0.85$0.78$0.68$0.87$0.38$0.55$1.28
Operating cash flow63.176.731.142.670.575.634.079.310912627.892.4
Capital expenditure0.0n/a0.00.60.00.50.10.00.10.1n/an/a
Free cash flow63.1n/a31.142.070.575.033.979.3109126n/an/a
Shares outstanding59m57m57m57m57m57m57m58m58m58m58m58m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 30 April 2024, accession 0001558370-24-006203: the filing on EDGAR. All of Harmony Biosciences Holdings, Inc.'s filings: EDGAR company page.

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