Harmony 2025 Q3 Earnings Net Income Surges 10.4% as Revenue Hits $239.46M

Harmony (HRMY) reported robust Q3 2025 earnings, driven by strong revenue growth and raised full-year guidance. The company exceeded expectations with $239.46 million in revenue and $0.88 EPS, while net income reached $50.87 million, marking a 10.4% year-over-year increase.

Revenue

Harmony's total revenue for Q3 2025 reached $239.46 million, driven entirely by net product revenue. This represents a 28.7% year-over-year increase, reflecting sustained demand for its core offerings. The absence of additional revenue segments underscores the company’s reliance on its primary product line, which continues to expand its market footprint.

Earnings/Net Income

The company’s EPS rose 8.6% to $0.88 in Q3 2025 from $0.81 in the prior-year period. Net income surged 10.4% to $50.87 million, setting a six-year record for Q3 performance. These results reflect continued earnings growth, with both EPS and net income surpassing prior-year figures.

Post-Earnings Price Action Review

Following the earnings release, Harmony’s stock demonstrated strong momentum, climbing 4.81% in the latest trading day, 3.64% over the past week, and 12.61% month-to-date. The price surge aligns with the company’s raised revenue guidance and robust financial performance. Analysts noted the stock’s resilience amid broader market volatility, with the Zacks Rank currently at #3 (Hold). However, short-term fluctuations remain tied to inventory dynamics and competitive pressures in the biotech sector.

CEO Commentary

Jeffrey Dayno, President and CEO, emphasized a “very strong quarter” marked by $239.5 million in net revenue and 29% year-on-year growth. He highlighted record WAKIX patient additions (500 per quarter) and a strengthened balance sheet, with $778 million in cash. Dayno reiterated confidence in the pipeline, noting two upcoming Phase III trials for pitolisant HD and ongoing R&D investments.

Guidance

Harmony raised its full-year 2025 revenue guidance to $845–$865 million from $820–$860 million, reflecting optimism in sustained commercial execution. Management expects continued R&D investment to support late-stage pipeline advancements, with no immediate signs of slowing growth.

Additional News

Recent updates include the pause of the ZYN002 program in 22q deletion syndrome due to failed Phase III data, raising questions about pipeline diversity. The CFO highlighted $778 million in cash reserves, enabling strategic acquisitions or R&D funding. Meanwhile, WAKIX’s competitive positioning remains under scrutiny as orexin agonists approach market entry.