Harmony Biosciences Holdings (HRMY) Q3 FY2026 earnings: revenue $269 million, up 12.3% on the year

Harmony Biosciences Holdings, Inc. (HRMY) reported revenue of $269 million for Q3 FY2026, the quarter ended 30 September 2026, up 12.3% on the same quarter a year earlier. Net income was $48 million, down 5.2% on the year, and diluted earnings per share $0.81. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$269 million

+12.3% on the year · +2.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

20.2%

27.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$48 million

-5.2% on the year · -36.1% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.81

-6.9% on the year · -36.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 7 kept.

WAKIX revenue rose 12% year on year: WAKIX net revenue was $268.9 million for the quarter, up from $239.5 million a year earlier, according to the company.
Patient count rose by 400: Estimated average patients grew by 400 to 9,350. Management said five of the last six quarters had more than 400 patient additions.
Cost of sales rose on Novitium royalties: Cost of product sold was $80.7 million, or 30% of WAKIX net revenue, versus $59.7 million or 25% a year earlier. The company attributed the change mainly to new Novitium royalties.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	269	261	239	+2.9%	+12.3%
Cost of revenue	80.7	63.2	59.6	+27.7%	+35.3%
Gross profit	188	198	180	-5.0%	+4.7%
Gross margin	70.0%	75.8%	75.1%
Research and development	71.7	46.6	55.0	+53.8%	+30.4%
Operating income	54.2	89.3	65.5	-39.3%	-17.2%
Operating margin	20.2%	34.2%	27.3%
Interest expense	3.1	3.1	3.6	-0.3%	-15.5%
Pre-tax income	59.2	93.3	67.5	-36.5%	-12.2%
Income tax	11.1	17.8	16.6	-38.0%	-33.5%
Effective tax rate	18.7%	19.1%	24.6%
Net income	48.2	75.4	50.9	-36.1%	-5.2%
Net margin	17.9%	28.9%	21.2%
Diluted EPS	$0.81	$1.28	$0.87	-36.7%	-6.9%

$ million except per share.

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

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	76.7	92.4	109	-17.0%	-29.5%
Capital expenditure	n/a	n/a	0.1
Free cash flow	n/a	n/a	109
Free cash flow margin	n/a	n/a	45.4%
Cash from investing	7.7	-132	-4.8
Cash from financing	13.0	-0.6	-3.0
Depreciation and amortisation	6.0	6.0	6.0	0.0%	0.0%
Share-based compensation	8.1	9.6	10.8	-15.1%	-24.9%
Diluted shares, weighted	60m	59m	59m	+1.6%	+1.6%
Shares outstanding at period end	59m	58m	58m	+1.0%	+2.0%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,072	999	835	+7.3%	+28.4%
Debt	149	154	169	-3.2%	-11.5%
Operating lease liabilities	4.4	4.8	0.4	-7.0%	+1,001.5%
Other liabilities	252	215	204	+17.4%	+23.6%
Total liabilities and equity	1,478	1,373	1,208	+7.7%	+22.3%
Fixed assets	n/a	n/a	1.4
Intangible assets	71.5	77.5	95.4	-7.7%	-25.0%
Investments	405	413	131	-2.0%	+207.8%
Cash and equivalents	647	550	647	+17.7%	+0.0%
Receivables	128	111	101	+15.1%	+26.9%
Inventory	5.9	6.4	6.9	-7.7%	-14.7%
Other assets	221	216	225	+2.7%	-1.8%
Total assets	1,478	1,373	1,208	+7.7%	+22.3%

Questions

What was Harmony Biosciences Holdings' revenue in Q3 FY2026?

Harmony Biosciences Holdings (HRMY) reported revenue of $269 million for Q3 FY2026, the quarter ended 30 September 2026, up 12.3% on the same quarter a year earlier.

How much did Harmony Biosciences Holdings earn in Q3 FY2026?

Net income for Q3 FY2026 was $48 million, down 5.2% on the year, and diluted earnings per share $0.81.

When did Harmony Biosciences Holdings report Q3 FY2026 results?

Harmony Biosciences Holdings filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	91.2	85.3	107	117	128	119	134	160	168	155	173	186	201	185	200	239	244	215	261	269
Cost of revenue	17.8	14.7	18.9	23.0	26.9	20.8	25.0	32.3	43.2	27.5	32.1	42.8	54.4	32.0	38.2	59.6	68.5	44.5	63.2	80.7
Gross profit	73.4	70.6	88.1	94.2	101	98.3	109	128	125	127	141	143	147	153	162	180	175	171	198	188
Gross margin	80%	83%	82%	80%	79%	83%	81%	80%	74%	82%	81%	77%	73%	83%	81%	75%	72%	79%	76%	70%
R&D	7.5	7.6	12.7	40.5	10.1	13.3	15.0	17.5	30.3	22.2	63.6	25.4	34.7	34.5	50.2	55.0	49.9	69.4	46.6	71.7
Operating income	28.6	27.6	33.1	11.9	47.6	40.4	46.9	64.5	40.2	52.0	21.4	61.7	55.7	56.2	48.2	65.5	38.6	37.3	89.3	54.2
Operating margin	31%	32%	31%	10%	37%	34%	35%	40%	24%	34%	12%	33%	28%	30%	24%	27%	16%	17%	34%	20%
Interest expense	4.3	4.2	4.2	4.9	5.4	5.7	6.2	7.0	4.8	4.5	4.4	4.3	4.2	3.8	3.6	3.6	3.5	3.2	3.1	3.1
Pre-tax income	24.5	23.4	29.2	8.0	44.1	37.8	44.1	51.8	39.7	51.8	21.7	62.2	56.2	57.2	49.6	67.5	40.8	39.7	93.3	59.2
Tax rate	n/a	8%	19%	-1004%	-10%	22%	22%	26%	33%	26%	47%	26%	12%	20%	20%	25%	45%	18%	19%	19%
Net income	22.7	21.5	23.5	87.9	48.5	29.5	34.3	38.5	26.6	38.3	11.6	46.1	49.5	45.6	39.8	50.9	22.5	32.5	75.4	48.2
Net margin	25%	25%	22%	75%	38%	25%	26%	24%	16%	25%	7%	25%	25%	25%	20%	21%	9%	15%	29%	18%
Diluted EPS	$0.38	$0.35	$0.39	$1.44	$0.79	$0.48	$0.56	$0.63	$0.45	$0.67	$0.20	$0.79	$0.85	$0.78	$0.68	$0.87	$0.38	$0.55	$1.28	$0.81
Operating cash flow	37.5	28.9	33.7	55.2	26.7	42.6	37.1	63.1	76.7	31.1	42.6	70.5	75.6	34.0	79.3	109	126	27.8	92.4	76.7
Capital expenditure	0.0	0.0	0.0	0.1	0.0	n/a	n/a	0.0	n/a	0.0	0.6	0.0	0.5	0.1	0.0	0.1	0.1	n/a	n/a	n/a
Free cash flow	37.5	28.8	33.7	55.1	26.7	n/a	n/a	63.1	n/a	31.1	42.0	70.5	75.0	33.9	79.3	109	126	n/a	n/a	n/a
Shares outstanding	59m	59m	59m	59m	60m	60m	60m	59m	57m	57m	57m	57m	57m	57m	58m	58m	58m	58m	58m	59m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.