Harmony 2025 Q3 Earnings Beats Estimates with 10.4% Net Income Growth

Harmony (HRMY) delivered a strong third-quarter performance, with revenue rising 28.7% year-over-year to $239.46 million and net income growing 10.4% to $50.87 million. The company raised full-year revenue guidance to $845M–$865M, reflecting robust demand and operational execution.

Revenue

Harmony’s total revenue surged to $239.46 million in Q3 2025, a 28.7% increase from $186.04 million in the same period last year. The entire revenue contribution came from net product sales, underscoring the company’s focus on core therapeutic areas and commercial strength.

Earnings/Net Income

Earnings per share (EPS) rose 8.6% to $0.88, outpacing the prior-year figure of $0.81. Net income climbed to $50.87 million, marking a 10.4% year-over-year increase and a six-year high for Q3 performance. This reflects disciplined cost management and strong revenue growth. The EPS and net income gains highlight Harmony’s ability to convert top-line growth into profitability.

Price Action

Following the earnings release, HRMY’s stock surged 4.81% in the latest trading day, 3.64% in the past week, and 12.61% month-to-date, reflecting investor optimism.

Post-Earnings Price Action Review

Harmony’s stock reacted positively to the Q3 2025 earnings report, with a 2.28% pre-market surge following the revenue beat of $239.46 million against an estimated $223.68 million. While short-term momentum was evident, the 30-day performance remains unverified due to limited data. Historically, the stock’s volatility and reliance on WAKIX (90%+ revenue contribution) suggest caution, as pipeline risks and market conditions could influence longer-term outcomes.

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CEO Commentary

CEO Jeffrey Dayno highlighted Q3’s 29% revenue growth, driven by 500 new WAKIX patients added quarterly. He emphasized $778 million in cash reserves, advancing clinical trials for pitolisant HD, and confidence in WAKIX’s path to $1 billion in narcolepsy sales. Strategic priorities include pipeline development and disciplined capital allocation.

Guidance

Harmony raised 2025 full-year revenue guidance to $845M–$865M from $820M–$860M, citing strong patient growth and commercial execution. The company expects continued momentum in Q4, with WAKIX nearing 8,100 patients.

Additional News

1. Pipeline Advancement: Harmony submitted an IND for pitolisant HD to the FDA and plans to initiate two Phase III trials in narcolepsy and idiopathic hypersomnia by year-end.


2. Payer Coverage Expansions: New payer agreements expanded WAKIX’s accessibility, supporting sustained revenue growth.


3. Cash Position Strengthening: The company ended Q3 with $778 million in cash, enabling investments in R&D and commercial operations.