Harmony Biosciences Holdings, Inc Q1 Profit Increases, Beats Estimates

(RTTNews) - Harmony Biosciences Holdings, Inc (HRMY) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $45.560 million, or $0.78 per share. This compares with $38.334 million, or $0.67 per share, last year.

Excluding items, Harmony Biosciences Holdings, Inc reported adjusted earnings of $60.368 million or $1.03 per share for the period.

Analysts on average had expected the company to earn $0.91 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 19.5% to $184.733 million from $154.615 million last year.

Harmony Biosciences Holdings, Inc earnings at a glance (GAAP) :

-Earnings: $45.560 Mln. vs. $38.334 Mln. last year. -EPS: $0.78 vs. $0.67 last year. -Revenue: $184.733 Mln vs. $154.615 Mln last year.

Jeffrey M. Dayno, CEO of Harmony Biosciences, said: “Building off of our strong foundation of commercial success, we are poised for significant momentum throughout the rest of the year, driven by the upcoming catalysts from our robust, late-stage pipeline.”

Looking ahead, the company expects a rise in its annual net product revenue. For the full year 2025, the firm expects net product revenue of $820 million to $860 million. For the full year 2024, Harmony Biosciences had posted net product revenue of $714.7 million.

HRMY was up by 5.11 percent at $31.49 in the pre-market trade on the Nasdaq.