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Harmony Biosciences Holdings (HRMY) Q2 FY2024 earnings: revenue $173 million, up 28.8% on the year

Harmony Biosciences Holdings, Inc. (HRMY) reported revenue of $173 million for Q2 FY2024, the quarter ended 30 June 2024, up 28.8% on the same quarter a year earlier. Net income was $12 million, down 66.2% on the year, and diluted earnings per share $0.20. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2024.

Revenue$173 millionup 28.8%
Net income$12 milliondown 66.2%
Diluted EPS$0.20
QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Revenue173155n/an/a
Cost of revenue32.127.5n/an/a
Gross profit141127n/an/a
Gross margin81.4%82.2%n/a
Research and development63.622.2n/an/a
Operating income21.452.0n/an/a
Operating margin12.4%33.7%n/a
Interest expense4.44.5n/an/a
Pre-tax income21.751.8n/an/a
Income tax10.113.5n/an/a
Effective tax rate46.6%26.0%n/a
Net income11.638.3n/an/a
Net margin6.7%24.8%n/a
Diluted EPS$0.20$0.67n/an/a
$ million except per share.
Read moreFree 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

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Operating cash flow42.631.1n/an/a
Capital expenditure0.60.0n/an/a
Free cash flow42.031.1n/an/a
Free cash flow margin24.3%20.1%n/a
Cash from investing-54.9-6.2n/an/a
Cash from financing-3.4-3.6n/an/a
Depreciation and amortisation6.16.1n/an/a
Share-based compensation11.010.4n/an/a
Diluted shares, weighted58m58mn/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

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Shareholders' equity539515n/an/a
Debt186190n/an/a
Operating lease liabilities0.91.3n/an/a
Other liabilities133140n/an/a
Total liabilities and equity858847n/an/a
Fixed assets0.80.2n/an/a
Intangible assets125131n/an/a
Investments117121n/an/a
Cash and equivalents317333n/an/a
Receivables83.279.7n/an/a
Inventory5.65.9n/an/a
Other assets210176n/an/a
Total assets858847n/an/a

Questions

What was Harmony Biosciences Holdings' revenue in Q2 FY2024?

Harmony Biosciences Holdings (HRMY) reported revenue of $173 million for Q2 FY2024, the quarter ended 30 June 2024, up 28.8% on the same quarter a year earlier.

How much did Harmony Biosciences Holdings earn in Q2 FY2024?

Net income for Q2 FY2024 was $12 million, down 66.2% on the year, and diluted earnings per share $0.20.

When did Harmony Biosciences Holdings report Q2 FY2024 results?

Harmony Biosciences Holdings filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 6 August 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 30 June 2024, filed 6 August 2024, accession 0001558370-24-010956: the filing on EDGAR. All of Harmony Biosciences Holdings, Inc.'s filings: EDGAR company page.

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