Rhythm Pharmaceu Financials

RYTM

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 50/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Rhythm Pharmaceu has an operating margin of -204.0%, meaning the company retains $-204 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -238.1% the prior year.

Growth

100

Rhythm Pharmaceu's revenue surged 68.1% year-over-year to $130.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Rhythm Pharmaceu has elevated debt relative to equity (D/E of 4.98), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

100

With a current ratio of 3.24, Rhythm Pharmaceu holds $3.24 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Piotroski F-Score Neutral

4/9

Rhythm Pharmaceu passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.44x

For every $1 of reported earnings, Rhythm Pharmaceu generates $0.44 in operating cash flow (-$113.9M OCF vs -$260.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-12.9x

Rhythm Pharmaceu earns $-12.9 in operating income for every $1 of interest expense (-$265.5M vs $20.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Rhythm Pharmaceu (RYTM) financial statements, including the 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).

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Key Financial Metrics

Revenue

$130.1M

YoY+68.1%

Rhythm Pharmaceu generated $130.1M in revenue in fiscal year 2024. This represents an increase of 68.1% from the prior year.

EBITDA

-$264.8M

YoY-44.3%

Rhythm Pharmaceu's EBITDA was -$264.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 44.3% from the prior year.

Free Cash Flow

N/A

Net Income

-$260.6M

YoY-41.1%

Rhythm Pharmaceu reported -$260.6M in net income in fiscal year 2024. This represents a decrease of 41.1% from the prior year.

EPS (Diluted)

$-4.34

YoY-35.6%

Rhythm Pharmaceu earned $-4.34 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 35.6% from the prior year.

Cash & Debt

$89.1M

YoY+48.4%

5Y CAGR+7.4%

Rhythm Pharmaceu held $89.1M in cash against $108.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

62M

YoY+5.0%

5Y CAGR+7.2%

Rhythm Pharmaceu had 62M shares outstanding in fiscal year 2024. This represents an increase of 5.0% from the prior year.

Gross Margin

89.7%

YoY+1.7pp

Rhythm Pharmaceu's gross margin was 89.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.

Operating Margin

-204.0%

YoY+34.1pp

Rhythm Pharmaceu's operating margin was -204.0% in fiscal year 2024, reflecting core business profitability. This is up 34.1 percentage points from the prior year.

Net Margin

-200.3%

YoY+38.3pp

Rhythm Pharmaceu's net profit margin was -200.3% in fiscal year 2024, showing the share of revenue converted to profit. This is up 38.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$238.0M

YoY+76.3%

5Y CAGR+16.8%

Rhythm Pharmaceu invested $238.0M in research and development in fiscal year 2024. This represents an increase of 76.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

RYTM Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$130.1M+68.1%	$77.4M+227.6%	$23.6M+649.5%	$3.2M	$0	$0
Cost of Revenue	$13.4M+43.7%	$9.3M+336.1%	$2.1M+256.1%	$599K	N/A	N/A
Gross Profit	$116.8M+71.4%	$68.1M+216.8%	$21.5M+741.7%	$2.6M	N/A	N/A
R&D Expenses	$238.0M+76.3%	$135.0M+24.2%	$108.6M+4.3%	$104.1M+15.1%	$90.5M-17.4%	$109.5M
SG&A Expenses	$144.3M+22.8%	$117.5M+27.7%	$92.0M+34.4%	$68.5M+48.5%	$46.1M+26.2%	$36.5M
Operating Income	-$265.5M-44.0%	-$184.4M-2.9%	-$179.2M-5.3%	-$170.1M-24.5%	-$136.6M+6.5%	-$146.0M
Interest Expense	$20.6M+48.3%	$13.9M+167.1%	$5.2M	N/A	N/A	N/A
Income Tax	$346K-38.7%	$564K	N/A	N/A	N/A	N/A
Net Income	-$260.6M-41.1%	-$184.7M-2.0%	-$181.1M-160.2%	-$69.6M+48.0%	-$134.0M+4.8%	-$140.7M
EPS (Diluted)	$-4.34-35.6%	$-3.20+7.8%	$-3.47-147.9%	$-1.40+53.9%	$-3.04+21.2%	$-3.86

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$51.3M+5.8%	$48.5M+48.3%	$32.7M-21.8%	$41.8M+43.9%	$29.1M+12.0%	$26.0M+7.2%	$24.2M+7.7%	$22.5M
Cost of Revenue	$5.5M-0.8%	$5.5M+51.9%	$3.6M-3.6%	$3.8M+28.5%	$2.9M+5.0%	$2.8M-13.2%	$3.2M+34.0%	$2.4M
Gross Profit	$45.8M+6.6%	$43.0M+47.8%	$29.1M-23.6%	$38.0M+45.6%	$26.1M+12.8%	$23.2M+10.3%	$21.0M+4.5%	$20.1M
R&D Expenses	$46.0M+8.8%	$42.3M+14.4%	$37.0M-10.2%	$41.2M+36.3%	$30.2M-76.5%	$128.7M+330.4%	$29.9M-11.0%	$33.6M
SG&A Expenses	$52.4M+14.1%	$45.9M+17.6%	$39.1M+2.5%	$38.1M+4.7%	$36.4M+5.9%	$34.4M+6.2%	$32.4M+6.2%	$30.5M
Operating Income	-$52.7M-16.2%	-$45.3M+3.6%	-$47.0M-13.9%	-$41.3M-1.9%	-$40.5M+71.1%	-$139.9M-239.0%	-$41.3M+6.1%	-$44.0M
Interest Expense	$4.7M-18.5%	$5.8M+7.5%	$5.4M-9.9%	$6.0M+30.4%	$4.6M-3.2%	$4.8M+8.6%	$4.4M+39.1%	$3.1M
Income Tax	$111K-67.1%	$337K+321.3%	$80K+189.9%	-$89K-118.6%	$479K+59.7%	$300K	N/A	$368K
Net Income	-$52.9M-13.4%	-$46.6M+5.8%	-$49.5M-14.2%	-$43.3M-34.3%	-$32.3M+77.2%	-$141.4M-239.6%	-$41.6M+5.7%	-$44.2M
EPS (Diluted)	$-0.82-9.3%	$-0.75+7.4%	$-0.81-14.1%	$-0.71-29.1%	$-0.55+76.6%	$-2.35-235.7%	$-0.70+7.9%	$-0.76

RYTM Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$392.3M+17.9%	$332.7M-13.0%	$382.5M+16.1%	$329.5M+76.1%	$187.1M-39.4%	$308.5M
Current Assets	$374.2M+21.4%	$308.3M-13.0%	$354.2M+14.9%	$308.4M+69.8%	$181.7M-39.9%	$302.4M
Cash & Equivalents	$89.1M+48.4%	$60.1M-52.9%	$127.7M+115.5%	$59.2M-41.3%	$100.9M+61.9%	$62.3M
Inventory	$18.7M+117.3%	$8.6M+195.6%	$2.9M+2527.9%	$111K	N/A	N/A
Accounts Receivable	$18.5M+24.5%	$14.9M+138.9%	$6.2M+507.2%	$1.0M	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$370.5M+127.3%	$163.0M+37.9%	$118.2M+160.6%	$45.4M+120.8%	$20.5M-25.3%	$27.5M
Current Liabilities	$115.5M+109.3%	$55.2M+38.7%	$39.8M-8.3%	$43.4M+141.3%	$18.0M-26.3%	$24.4M
Long-Term Debt	$108.3M+2.0%	$106.1M	N/A	N/A	N/A	N/A
Total Equity	$21.7M-87.2%	$169.8M-35.8%	$264.3M-7.0%	$284.2M+70.6%	$166.5M-40.7%	$281.0M
Retained Earnings	-$1.2B-29.1%	-$894.7M-26.0%	-$710.1M-34.2%	-$528.9M-15.2%	-$459.3M-41.2%	-$325.3M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$506.9M+36.0%	$372.7M-3.6%	$386.7M-1.4%	$392.3M+2.7%	$381.8M+47.6%	$258.7M-22.3%	$332.7M-6.1%	$354.2M
Current Assets	$494.8M+37.2%	$360.7M-2.3%	$369.3M-1.3%	$374.2M+4.7%	$357.4M+51.6%	$235.8M-23.5%	$308.3M-6.4%	$329.2M
Cash & Equivalents	$52.1M-61.6%	$135.6M+27.8%	$106.1M+19.0%	$89.1M-44.9%	$161.7M+202.6%	$53.4M-11.1%	$60.1M-7.0%	$64.6M
Inventory	$22.1M+17.1%	$18.9M-2.3%	$19.3M+3.1%	$18.7M+56.3%	$12.0M+41.0%	$8.5M-1.4%	$8.6M+11.1%	$7.8M
Accounts Receivable	$33.0M+26.5%	$26.1M+46.5%	$17.8M-3.7%	$18.5M+5.2%	$17.6M+19.8%	$14.7M-1.2%	$14.9M+2.2%	$14.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$358.1M-6.9%	$384.6M+4.6%	$367.7M-0.8%	$370.5M+8.2%	$342.5M+73.8%	$197.1M+20.9%	$163.0M+4.0%	$156.7M
Current Liabilities	$104.3M-19.5%	$129.5M+15.8%	$111.8M-3.2%	$115.5M+111.1%	$54.7M+1.0%	$54.2M-1.9%	$55.2M+10.1%	$50.1M
Long-Term Debt	$103.4M-2.5%	$106.0M-1.8%	$107.9M-0.3%	$108.3M	N/A	N/A	$106.1M	N/A
Total Equity	$148.8M+1349.7%	-$11.9M-162.8%	$18.9M-12.8%	$21.7M-44.8%	$39.3M-36.1%	$61.6M-63.7%	$169.8M-14.0%	$197.5M
Retained Earnings	-$1.3B-4.2%	-$1.3B-3.9%	-$1.2B-4.3%	-$1.2B-8.1%	-$1.1B-3.1%	-$1.0B-15.8%	-$894.7M-4.9%	-$853.1M

RYTM Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$113.9M+16.4%	-$136.2M+21.5%	-$173.4M-18.8%	-$146.0M-19.7%	-$122.0M+0.6%	-$122.8M
Capital Expenditures	N/A	$47K-83.3%	$281K-35.3%	$434K+102.8%	$214K-93.7%	$3.4M
Free Cash Flow	N/A	-$136.2M+21.6%	-$173.7M-18.6%	-$146.4M-19.8%	-$122.2M+3.1%	-$126.1M
Investing Cash Flow	-$48.2M-750.4%	-$5.7M-120.2%	$28.0M+145.1%	-$62.2M-139.2%	$158.5M+666.8%	-$28.0M
Financing Cash Flow	$191.2M+157.2%	$74.4M-65.2%	$213.8M+28.4%	$166.5M+8186.8%	$2.0M-98.8%	$163.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$26.6M-14.2%	-$23.3M+42.2%	-$40.4M-114.1%	-$18.8M+35.2%	-$29.1M+28.6%	-$40.7M-38.7%	-$29.4M-0.5%	-$29.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	-$1K-200.0%	$1K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$29.4M-0.5%	-$29.3M
Investing Cash Flow	-$246.3M-555.9%	$54.0M+117.8%	$24.8M+17.3%	$21.2M+347.1%	-$8.6M-128.5%	$30.1M+32.7%	$22.6M+123.8%	-$95.0M
Financing Cash Flow	$189.3M+21393.7%	-$889K-102.7%	$32.5M-15.2%	$38.3M-73.8%	$146.2M+3345.2%	$4.2M+75.1%	$2.4M-96.7%	$73.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RYTM Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	89.7%+1.7pp	88.0%-3.0pp	91.0%+10.0pp	81.0%	N/A	N/A
Operating Margin	-204.0%+34.1pp	-238.1%+519.8pp	-757.9%+4633.9pp	-5391.9%	N/A	N/A
Net Margin	-200.3%+38.3pp	-238.5%+527.7pp	-766.2%+1440.9pp	-2207.1%	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-66.4%-10.9pp	-55.5%-8.2pp	-47.3%-26.2pp	-21.1%+50.5pp	-71.6%-26.0pp	-45.6%
Current Ratio	3.24-2.3	5.58-3.3	8.90+1.8	7.10-3.0	10.10-2.3	12.38
Debt-to-Equity	4.98+4.4	0.63+0.2	0.45+0.3	0.16+0.0	0.12+0.0	0.10
FCF Margin	N/A	-175.9%+559.0pp	-734.9%+3908.0pp	-4642.9%	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	89.3%+0.7pp	88.6%-0.3pp	88.8%-2.1pp	91.0%+1.1pp	89.9%+0.7pp	89.2%+2.5pp	86.7%-2.6pp	89.3%
Operating Margin	-102.6%-9.3pp	-93.4%+50.3pp	-143.7%-45.1pp	-98.6%+40.6pp	-139.2%+399.5pp	-538.7%-368.4pp	-170.3%+25.0pp	-195.3%
Net Margin	-103.1%-7.0pp	-96.1%+55.2pp	-151.3%-47.8pp	-103.6%+7.4pp	-110.9%+433.5pp	-544.4%-372.6pp	-171.8%+24.4pp	-196.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-10.4%+2.1pp	-12.5%+0.3pp	-12.8%-1.8pp	-11.1%-2.6pp	-8.5%+46.2pp	-54.7%-42.1pp	-12.5%-0.0pp	-12.5%
Current Ratio	4.75+2.0	2.79-0.5	3.30+0.1	3.24-3.3	6.53+2.2	4.35-1.2	5.58-1.0	6.57
Debt-to-Equity	0.69+9.6	-8.90-14.6	5.70+0.7	4.98-3.7	8.71+5.5	3.20+2.6	0.63-0.2	0.79
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-121.2%+8.7pp	-130.0%

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Frequently Asked Questions

What is Rhythm Pharmaceu's annual revenue?

Rhythm Pharmaceu (RYTM) reported $130.1M in total revenue for fiscal year 2024. This represents a 68.1% 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 Rhythm Pharmaceu's revenue growing?

Rhythm Pharmaceu (RYTM) revenue grew by 68.1% year-over-year, from $77.4M to $130.1M in fiscal year 2024.

Is Rhythm Pharmaceu profitable?

No, Rhythm Pharmaceu (RYTM) reported a net income of -$260.6M in fiscal year 2024, with a net profit margin of -200.3%.

What is Rhythm Pharmaceu's earnings per share (EPS)?

Rhythm Pharmaceu (RYTM) reported diluted earnings per share of $-4.34 for fiscal year 2024. This represents a -35.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Rhythm Pharmaceu's EBITDA?

Rhythm Pharmaceu (RYTM) had EBITDA of -$264.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Rhythm Pharmaceu have?

As of fiscal year 2024, Rhythm Pharmaceu (RYTM) had $89.1M in cash and equivalents against $108.3M in long-term debt.

What is Rhythm Pharmaceu's gross margin?

Rhythm Pharmaceu (RYTM) had a gross margin of 89.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Rhythm Pharmaceu's operating margin?

Rhythm Pharmaceu (RYTM) had an operating margin of -204.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Rhythm Pharmaceu's net profit margin?

Rhythm Pharmaceu (RYTM) had a net profit margin of -200.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Rhythm Pharmaceu's operating cash flow?

Rhythm Pharmaceu (RYTM) generated -$113.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Rhythm Pharmaceu's total assets?

Rhythm Pharmaceu (RYTM) had $392.3M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Rhythm Pharmaceu spend on research and development?

Rhythm Pharmaceu (RYTM) invested $238.0M in research and development during fiscal year 2024.

How many shares does Rhythm Pharmaceu have outstanding?

Rhythm Pharmaceu (RYTM) had 62M shares outstanding as of fiscal year 2024.

What is Rhythm Pharmaceu's current ratio?

Rhythm Pharmaceu (RYTM) had a current ratio of 3.24 as of fiscal year 2024, which is generally considered healthy.

What is Rhythm Pharmaceu's debt-to-equity ratio?

Rhythm Pharmaceu (RYTM) had a debt-to-equity ratio of 4.98 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Rhythm Pharmaceu's return on assets (ROA)?

Rhythm Pharmaceu (RYTM) had a return on assets of -66.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Rhythm Pharmaceu's cash runway?

Based on fiscal year 2024 data, Rhythm Pharmaceu (RYTM) had $89.1M in cash against an annual operating cash burn of $113.9M. This gives an estimated cash runway of approximately 9 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 Rhythm Pharmaceu's Piotroski F-Score?

Rhythm Pharmaceu (RYTM) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Rhythm Pharmaceu's earnings high quality?

Rhythm Pharmaceu (RYTM) has an earnings quality ratio of 0.44x, 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.

Can Rhythm Pharmaceu cover its interest payments?

Rhythm Pharmaceu (RYTM) has an interest coverage ratio of -12.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Rhythm Pharmaceu?

Rhythm Pharmaceu (RYTM) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.