Krystal Biotech Financials
Krystal Biotech (KRYS) reported $440.5M in revenue over the twelve months to Jun 30, 2026, up 22.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Revenue growth is increasingly dropping through to profit and cash while the balance sheet remains lightly leveraged.
The move from an operating margin of-216.2% in FY2023 to41.5% in FY2025 marks a shift from investment-heavy operations toward profitable scale. In FY2025,$188.9M of free cash flow followed$200.9M of operating cash flow, indicating that only a modest portion of internally generated cash was absorbed by reinvestment.
FY2025 revenue expanded
Total liabilities barely changed from
Financial Health Signals
Scored against operating companies 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 Krystal Biotech'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.
Krystal Biotech has an operating margin of 41.4%, meaning the company retains $41 of operating profit per $100 of revenue. This below-average margin results in a low score of 18/100, suggesting thin profitability after operating expenses. This is up from 22.6% the prior year.
Krystal Biotech's revenue surged 33.9% year-over-year to $389.1M, reflecting rapid business expansion. This strong growth earns a score of 99/100.
Krystal Biotech carries a low D/E ratio of 0.09, meaning only $0.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 9.95, Krystal Biotech holds $9.95 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 97/100.
Krystal Biotech's free cash flow margin of 48.5% results in a low score of 22/100. Capital expenditures of $12.0M absorb a large share of operating cash flow.
Krystal Biotech's ROE of 16.8% shows moderate profitability relative to equity, earning a score of 40/100. This is up from 9.4% the prior year.
Krystal Biotech scores 56.18, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($10.4B) relative to total liabilities ($114.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Krystal Biotech passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Krystal Biotech generates $0.98 in operating cash flow ($200.9M OCF vs $204.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Krystal Biotech generated $389.1M in revenue in fiscal year 2025. This represents an increase of 33.9% from the prior year.
Krystal Biotech's EBITDA was $167.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 132.9% from the prior year.
Krystal Biotech reported $204.8M in net income in fiscal year 2025. This represents an increase of 129.7% from the prior year.
Krystal Biotech earned $6.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 128.0% from the prior year.
Cash & Balance Sheet
Krystal Biotech generated $188.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 58.5% from the prior year.
Krystal Biotech held $496.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Krystal Biotech's operating margin was 41.4% in fiscal year 2025, reflecting core business profitability. This is up 18.8 percentage points from the prior year.
Krystal Biotech's net profit margin was 52.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 21.9 percentage points from the prior year.
Krystal Biotech's ROE was 16.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.4 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Krystal Biotech invested $58.0M in research and development in fiscal year 2025. This represents an increase of 8.3% from the prior year.
Krystal Biotech invested $12.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 182.0% from the prior year.
Not reported for fiscal year 2025.
KRYS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $119.2M+2.5% | $116.4M+8.6% | $107.1M+9.5% | $97.8M+1.8% | $96.0M+8.9% | $88.2M-3.2% | $91.1M+8.7% | $83.8M |
| R&D Expenses | $14.5M-5.3% | $15.3M+3.6% | $14.8M+1.4% | $14.6M+1.2% | $14.4M+1.1% | $14.3M+5.4% | $13.5M+0.1% | $13.5M |
| SG&A Expenses | $39.9M-2.8% | $41.0M-1.0% | $41.4M+10.3% | $37.6M+7.2% | $35.1M+7.4% | $32.6M+4.4% | $31.3M+9.1% | $28.7M |
| Operating Income | $58.4M+8.8% | $53.7M+21.3% | $44.3M+7.0% | $41.4M+5.0% | $39.4M+8.7% | $36.3M-12.4% | $41.4M+84.2% | $22.5M |
| Income Tax | $11.3M+105.3% | $5.5M+2156.0% | -$268K+99.1% | -$31.4M-471.9% | $8.4M+7.3% | $7.9M+151.2% | $3.1M+20.9% | $2.6M |
| Net Income | $54.8M-2.1% | $55.9M+8.8% | $51.4M-35.2% | $79.4M+107.0% | $38.3M+7.3% | $35.7M-21.4% | $45.5M+67.3% | $27.2M |
| EPS (Diluted) | $1.79-2.2% | $1.83+7.6% | $1.70-36.1% | $2.66+106.2% | $1.29+7.5% | $1.20-21.6% | $1.53+68.1% | $0.91 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
KRYS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B+7.4% | $1.4B+4.7% | $1.3B+7.6% | $1.2B+8.9% | $1.1B+6.0% | $1.1B+1.8% | $1.1B+7.5% | $982.3M |
| Current Assets | $1.1B+3.9% | $1.0B-0.5% | $1.0B+10.7% | $925.6M+10.0% | $841.3M+9.7% | $766.8M+3.3% | $742.0M+4.0% | $713.2M |
| Cash & Equivalents | $427.7M-14.7% | $501.3M+1.0% | $496.3M+26.4% | $392.6M+11.0% | $353.8M+14.6% | $308.8M-10.5% | $344.9M-7.8% | $374.0M |
| Inventory | $45.6M+6.8% | $42.6M+5.4% | $40.5M+7.6% | $37.6M+21.2% | $31.0M+3.7% | $29.9M+13.0% | $26.5M+42.7% | $18.6M |
| Accounts Receivable | $138.7M+9.2% | $127.0M-0.3% | $127.4M-1.7% | $129.6M+16.3% | $111.4M+7.9% | $103.3M-1.4% | $104.7M+7.7% | $97.3M |
| Total Liabilities | $141.5M+17.7% | $120.2M+5.3% | $114.2M+11.8% | $102.2M+4.6% | $97.7M+8.9% | $89.7M-18.0% | $109.5M+13.5% | $96.5M |
| Current Liabilities | $127.4M+18.2% | $107.8M+4.7% | $102.9M+12.8% | $91.3M+5.0% | $86.9M+9.3% | $79.5M-22.1% | $102.0M+13.9% | $89.5M |
| Total Equity | $1.4B+6.5% | $1.3B+4.7% | $1.2B+7.2% | $1.1B+9.3% | $1.0B+5.7% | $984.7M+4.0% | $946.4M+6.8% | $885.8M |
| Retained Earnings | $134.9M+68.4% | $80.1M+231.5% | $24.2M+188.7% | -$27.2M+74.4% | -$106.6M+26.4% | -$144.9M+19.8% | -$180.7M+20.1% | -$226.1M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
KRYS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $74.8M-7.0% | $80.4M+3.7% | $77.5M+95.4% | $39.7M-24.8% | $52.7M+70.3% | $31.0M-41.4% | $52.8M-10.2% | $58.9M |
| Capital Expenditures | $3.6M-50.1% | $7.1M+234.2% | $2.1M+25.5% | $1.7M-10.5% | $1.9M-69.3% | $6.2M+674.5% | $801K-23.4% | $1.0M |
| Free Cash Flow | $71.2M-2.7% | $73.2M-2.8% | $75.4M+98.6% | $38.0M-25.3% | $50.8M+105.2% | $24.8M-52.4% | $52.0M-10.0% | $57.8M |
| Investing Cash Flow | -$161.6M-154.1% | -$63.6M-669.6% | $11.2M+360.5% | -$4.3M+59.3% | -$10.5M+80.8% | -$54.8M+34.6% | -$83.8M-144.1% | -$34.3M |
| Financing Cash Flow | $15.1M+243.9% | -$10.5M-166.8% | $15.7M+322.4% | $3.7M+106.5% | $1.8M+114.4% | -$12.5M-613.4% | $2.4M-27.8% | $3.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
KRYS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 49.0%+2.9pp | 46.1%+4.8pp | 41.3%-1.0pp | 42.3%+1.3pp | 41.0%-0.1pp | 41.1%-4.3pp | 45.4%+18.6pp | 26.8% |
| Net Margin | 45.9%-2.1pp | 48.1%+0.1pp | 48.0%-33.2pp | 81.2%+41.2pp | 39.9%-0.6pp | 40.5%-9.4pp | 49.9%+17.5pp | 32.4% |
| Return on Equity | 4.0%-0.3pp | 4.4%+0.2pp | 4.2%-2.8pp | 7.0%+3.3pp | 3.7%+0.1pp | 3.6%-1.2pp | 4.8%+1.7pp | 3.1% |
| Return on Assets | 3.6%-0.4pp | 4.0%+0.2pp | 3.9%-2.6pp | 6.4%+3.0pp | 3.4%0.0pp | 3.3%-1.0pp | 4.3%+1.5pp | 2.8% |
| Current Ratio | 8.32-1.1x | 9.46-0.5x | 9.95-0.2x | 10.14+0.5x | 9.680.0x | 9.65+2.4x | 7.28-0.7x | 7.97 |
| Debt-to-Equity | 0.100.0x | 0.090.0x | 0.090.0x | 0.090.0x | 0.090.0x | 0.090.0x | 0.120.0x | 0.11 |
| FCF Margin | 59.7%-3.2pp | 62.9%-7.4pp | 70.4%+31.6pp | 38.8%-14.1pp | 52.9%+24.8pp | 28.1%-29.0pp | 57.1%-11.9pp | 69.0% |
Not reported in any period shown, so not listed: Gross Margin.
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Where Krystal Biotech Ranks
Frequently Asked Questions
What is Krystal Biotech's annual revenue?
Krystal Biotech (KRYS) reported $389.1M in total revenue for fiscal year 2025. This represents a 33.9% 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 Krystal Biotech's revenue growing?
Krystal Biotech (KRYS) revenue grew by 33.9% year-over-year, from $290.5M to $389.1M in fiscal year 2025.
Is Krystal Biotech profitable?
Yes, Krystal Biotech (KRYS) reported a net income of $204.8M in fiscal year 2025, with a net profit margin of 52.6%.
What is Krystal Biotech's EBITDA?
Krystal Biotech (KRYS) had EBITDA of $167.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Krystal Biotech's operating margin?
Krystal Biotech (KRYS) had an operating margin of 41.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Krystal Biotech's net profit margin?
Krystal Biotech (KRYS) had a net profit margin of 52.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Krystal Biotech's return on equity (ROE)?
Krystal Biotech (KRYS) has a return on equity of 16.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Krystal Biotech's free cash flow?
Krystal Biotech (KRYS) generated $188.9M in free cash flow during fiscal year 2025. This represents a 58.5% 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 Krystal Biotech's operating cash flow?
Krystal Biotech (KRYS) generated $200.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Krystal Biotech's total assets?
Krystal Biotech (KRYS) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Krystal Biotech's capital expenditures?
Krystal Biotech (KRYS) invested $12.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Krystal Biotech spend on research and development?
Krystal Biotech (KRYS) invested $58.0M in research and development during fiscal year 2025.
What is Krystal Biotech's current ratio?
Krystal Biotech (KRYS) had a current ratio of 9.95 as of fiscal year 2025, which is generally considered healthy.
What is Krystal Biotech's debt-to-equity ratio?
Krystal Biotech (KRYS) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Krystal Biotech's return on assets (ROA)?
Krystal Biotech (KRYS) had a return on assets of 15.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Krystal Biotech's Altman Z-Score?
Krystal Biotech (KRYS) has an Altman Z-Score of 56.18, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Krystal Biotech's Piotroski F-Score?
Krystal Biotech (KRYS) has a Piotroski F-Score of 5 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 Krystal Biotech's earnings high quality?
Krystal Biotech (KRYS) has an earnings quality ratio of 0.98x, considered mixed quality. 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 Krystal Biotech?
Krystal Biotech (KRYS) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.