Harmony Biosciences Holdings, Inc.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 24, 2026
HRMY$33.55-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, | |||||||||
| · · 2025 · · 2024 · · 2023 | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES · · · · · · · | |||||||||
| Net income | | $158,687 | | $145,493 | | $128,853 | |||
| Adjustments to reconcile net income to net cash used in operating activities: | | | | | | | | ||
| Depreciation and impairment of long-lived assets | | 1,490 | | 267 | | | 514 | ||
| Intangible amortization | | 23,845 | | 23,845 | | | 23,845 | ||
| Acquired in-process research & development (IPR&D) expense | | | 34,250 | | | 43,595 | | | 2,260 |
| Stock-based compensation | | 44,895 | | 42,602 | | | 31,705 | ||
| Stock appreciation rights market adjustment | | 65 | | 99 | | | (499) | ||
| Debt issuance costs amortization | | 647 | | 700 | | | 2,274 | ||
| Deferred taxes | | | (7,301) | | | (29,298) | | | (13,419) |
| Amortization of premiums and accretion of discounts on Investment securities | | | (1,521) | | | (2,261) | | | (2,715) |
| Loss on debt extinguishment | | | — | | | — | | | 9,766 |
| Other non-cash expenses | | | 1,325 | | | 2,100 | | | 1,768 |
| Change in operating assets and liabilities: | | | | | | | | ||
| Trade receivables | | (13,754) | | (8,893) | | | (19,400) | ||
| Inventory | | 1,841 | | (1,835) | | | (1,066) | ||
| Prepaid expenses and other assets | | 31,787 | | (3,008) | | | 74 | ||
| Trade payables | | 3,949 | | (5,384) | | | 8,949 | ||
| Other liabilities | | 67,994 | | 11,799 | | | 46,478 | ||
| Net cash provided by operating activities | | 348,199 | | 219,821 | | 219,387 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | ||
| Purchase of investment securities | | | (86,151) | | | (105,289) | | | (127,469) |
| Proceeds from maturities and sales of investment securities | | | 81,062 | | | 98,527 | | | 118,309 |
| Purchase of property and equipment | | (310) | | (1,153) | | | (312) | ||
| Acquisition of Zynerba Pharmaceuticals, Inc., net of cash acquired | | — | | — | | | (36,967) | ||
| Acquisition of Epygenix Therapeutics, Inc., net of cash acquired | | | — | | | (33,069) | | | — |
| Payment of milestones | | | (19,250) | | | (1,000) | | | — |
| Payment of upfront fee related to license agreements (1) | | (15,000) | | (25,500) | | | — | ||
| Net cash used in investing activities | | (39,649) | | (67,484) | | (46,439) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | ||
| Proceeds from long-term debt | | — | | — | | | 200,000 | ||
| Debt issuance costs | | — | | — | | | (2,997) | ||
| Extinguishment of debt | | — | | — | | | (196,500) | ||
| Extinguishment of debt exit fees | | — | | — | | | (5,846) | ||
| Principal repayment of long-term debt | | | (16,250) | | | (15,000) | | | (4,750) |
| Repurchase of common stock | | | — | | | — | | | (100,000) |
| Payments of employee withholding taxes related to stock-based awards | | | (3,004) | | | (2,497) | | | (514) |
| Proceeds from exercised options | | 10,205 | | 6,501 | | | 5,055 | ||
| Net cash used in financing activities | | (9,049) | | (10,996) | | | (105,552) | ||
| NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | | 299,501 | | 141,341 | | | 67,396 | ||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period | | 453,271 | | 311,930 | | | 244,534 | ||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period | | $752,772 | | $453,271 | | | 311,930 | ||
| Supplemental Disclosure of Cash Flow Information: | | | | | | | |||
| Cash paid during the year for interest | | $14,685 | | $17,317 | | $20,051 | |||
| Cash paid during the year for income taxes net of refunds received | | | 19,820 | | | 79,635 | | | 48,233 |
| (1) | Includes $15,000 in cash paid to a related party during the year ended December 31, 2025, and no related party payments during the years ended December 31, 2024, and 2023. |
The accompanying notes are an integral part of the consolidated financial statements
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