Happen Inc Financials
This page shows Happen Inc (HAPN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Happen Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Happen Inc passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Happen Inc generates $-20.10 in operating cash flow (-$2.7B OCF vs $135.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Happen Inc generated $998.8M in revenue in fiscal year 2025. This represents an increase of 26.9% from the prior year.
Happen Inc reported $135.7M in net income in fiscal year 2025. This represents an increase of 164.5% from the prior year.
Happen Inc earned $1.16 per diluted share (EPS) in fiscal year 2025. This represents an increase of 157.8% from the prior year.
Cash & Balance Sheet
Happen Inc generated -$2.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 6.7% from the prior year.
Happen Inc held $930.4M in cash against $0 in long-term debt as of fiscal year 2025.
Happen Inc had 115M shares outstanding in fiscal year 2025. This represents an increase of 1.6% from the prior year.
Margins & Returns
Happen Inc's net profit margin was 13.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.1 percentage points from the prior year.
Happen Inc's ROE was 9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.2 percentage points from the prior year.
Capital Allocation
Happen Inc invested $140.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 158.4% from the prior year.
HAPN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $252.3M-5.3% | $266.5M+0.1% | $266.2M+7.2% | $248.4M+14.1% | $217.7M+0.2% | $217.2M+7.6% | $201.9M+7.8% | $187.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $65.5M+8.0% | $60.6M-0.3% | $60.8M-1.9% | $62.0M+6.2% | $58.4M-0.5% | $58.7M+2.2% | $57.4M+1.5% | $56.5M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $85.0M-3.0% | $87.6M+5.0% | $83.4M+0.6% | $82.8M+0.9% | $82.1M-16.4% | $98.2M-1.9% | $100.1M+9.9% | $91.1M |
| Income Tax | $15.7M+85.5% | $8.5M-34.6% | $13.0M-18.0% | $15.8M+292.8% | $4.0M+189.9% | $1.4M-60.9% | $3.6M-21.4% | $4.5M |
| Net Income | $51.6M+24.1% | $41.6M-6.1% | $44.3M+16.0% | $38.2M+227.1% | $11.7M+20.4% | $9.7M-33.0% | $14.5M-3.0% | $14.9M |
| EPS (Diluted) | $0.44 | N/A | $0.37+12.1% | $0.33+230.0% | $0.10 | N/A | $0.130.0% | $0.13 |
HAPN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.9B+3.2% | $11.6B+4.5% | $11.1B+2.8% | $10.8B+2.8% | $10.5B-1.4% | $10.6B-3.7% | $11.0B+15.1% | $9.6B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $821.9M-11.7% | $930.4M+10.0% | $845.7M+9.2% | $774.3M-15.9% | $920.2M-5.8% | $977.4M-6.9% | $1.1B+8.3% | $969.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $75.7M0.0% | $75.7M0.0% | $75.7M0.0% | $75.7M0.0% | $75.7M0.0% | $75.7M0.0% | $75.7M0.0% | $75.7M |
| Total Liabilities | $10.4B+3.5% | $10.1B+4.8% | $9.6B+2.6% | $9.4B+2.7% | $9.1B-1.8% | $9.3B-4.2% | $9.7B+16.8% | $8.3B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | N/A | N/A |
| Total Equity | $1.5B+1.5% | $1.5B+2.6% | $1.5B+4.0% | $1.4B+3.0% | $1.4B+1.7% | $1.3B-0.1% | $1.3B+4.3% | $1.3B |
| Retained Earnings | -$150.2M+25.6% | -$201.8M+17.1% | -$243.4M+15.4% | -$287.6M+11.7% | -$325.8M+3.5% | -$337.5M+2.8% | -$347.2M+4.0% | -$361.7M |
HAPN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$619.0M+31.5% | -$903.8M-17.2% | -$770.8M-8.1% | -$713.1M-110.2% | -$339.3M-83.0% | -$185.4M+72.3% | -$669.8M+28.2% | -$932.5M |
| Capital Expenditures | $25.8M+65.5% | $15.6M-25.8% | $21.0M-76.8% | $90.7M+594.1% | $13.1M-24.1% | $17.2M+38.5% | $12.4M-3.3% | $12.9M |
| Free Cash Flow | -$644.8M+29.9% | -$919.3M-16.1% | -$791.8M+1.5% | -$803.8M-128.1% | -$352.3M-73.9% | -$202.6M+70.3% | -$682.3M+27.8% | -$945.3M |
| Investing Cash Flow | $182.5M-66.7% | $548.8M-7.9% | $595.9M+76.8% | $337.0M-25.2% | $450.5M-9.6% | $498.1M+183.8% | -$594.1M-222.0% | $487.0M |
| Financing Cash Flow | $327.9M-25.4% | $439.7M+78.5% | $246.3M+7.0% | $230.1M+236.7% | -$168.4M+56.3% | -$385.6M-128.7% | $1.3B+330.2% | $312.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $12.6M | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
HAPN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 20.5%+4.9pp | 15.6%-1.0pp | 16.6%+1.3pp | 15.4%+10.0pp | 5.4%+0.9pp | 4.5%-2.7pp | 7.2%-0.8pp | 8.0% |
| Return on Equity | 3.4%+0.6pp | 2.8%-0.3pp | 3.0%+0.3pp | 2.7%+1.9pp | 0.9%+0.1pp | 0.7%-0.4pp | 1.1%-0.1pp | 1.2% |
| Return on Assets | 0.4%+0.1pp | 0.4%-0.0pp | 0.4%+0.1pp | 0.4%+0.2pp | 0.1%+0.0pp | 0.1%-0.0pp | 0.1%-0.0pp | 0.2% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.00-7.2 | 7.22+0.8 | 6.44 |
| FCF Margin | -255.6%+89.4pp | -345.0%-47.6pp | -297.4%+26.1pp | -323.5%-161.7pp | -161.8%-68.6pp | -93.3%+244.7pp | -338.0%+166.9pp | -504.9% |
Frequently Asked Questions
What is Happen Inc's annual revenue?
Happen Inc (HAPN) reported $998.8M in total revenue for fiscal year 2025. This represents a 26.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Happen Inc's revenue growing?
Happen Inc (HAPN) revenue grew by 26.9% year-over-year, from $787.0M to $998.8M in fiscal year 2025.
Is Happen Inc profitable?
Yes, Happen Inc (HAPN) reported a net income of $135.7M in fiscal year 2025, with a net profit margin of 13.6%.
How much debt does Happen Inc have?
As of fiscal year 2025, Happen Inc (HAPN) had $930.4M in cash and equivalents against $0 in long-term debt.
What is Happen Inc's net profit margin?
Happen Inc (HAPN) had a net profit margin of 13.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Happen Inc's return on equity (ROE)?
Happen Inc (HAPN) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Happen Inc's free cash flow?
Happen Inc (HAPN) generated -$2.9B in free cash flow during fiscal year 2025. This represents a -6.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Happen Inc's operating cash flow?
Happen Inc (HAPN) generated -$2.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Happen Inc's total assets?
Happen Inc (HAPN) had $11.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Happen Inc's capital expenditures?
Happen Inc (HAPN) invested $140.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Happen Inc's debt-to-equity ratio?
Happen Inc (HAPN) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Happen Inc's return on assets (ROA)?
Happen Inc (HAPN) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Happen Inc's cash runway?
Based on fiscal year 2025 data, Happen Inc (HAPN) had $930.4M in cash against an annual operating cash burn of $2.7B. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Happen Inc's Piotroski F-Score?
Happen Inc (HAPN) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Happen Inc's earnings high quality?
Happen Inc (HAPN) has an earnings quality ratio of -20.10x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Happen Inc?
Happen Inc (HAPN) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.