Here are the 10-Q quarterly reports from Krystal Biotech, Inc. (KRYS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow KRYS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KRYS filings page.
Krystal Biotech, Inc. reported third-quarter 2026 product revenue, net, of $127.3 million, up 30% from $97.8 million a year earlier, with the increase primarily driven by VYJUVEK sales following launches in Europe and Japan. Net income was $63.1 million, versus $79.4 million; the comparison includes a $31.4 million income tax benefit in 2025 and a $17.1 million income tax expense in 2026. For the first nine months, product revenue was $362.9 million versus $282.0 million, and net income was $173.8 million versus $153.4 million.
Cash, cash equivalents and short-term investments totaled approximately $911.9 million as of September 30, 2026; management expects these funds to support planned operations for at least 12 months from the report date. Net cash provided by operating activities was $246.4 million, compared with $123.4 million a year earlier. In October, the board authorized repurchases of up to $400 million of common stock; the program has no expiration date and does not obligate the company to buy a particular amount.
Krystal expects the last patient visit in its KB803 IOLITE study in February 2027, with top-line results shortly thereafter. Enrollment in the KB801 EMERALD-1 study is ongoing, with enrollment completion and top-line results expected in 2027.
Krystal Biotech, Inc. reported strong profitability for the quarter ended March 31, 2026, driven by rapid uptake of its gene therapy VYJUVEK. Product revenue, net rose to $116.4 million from $88.2 million a year earlier, largely from growth in Europe and Japan.
Gross margin was 95%, while net income increased to $55.9 million from $35.7 million. Diluted net income per share was $1.83, up from $1.20. Cash, cash equivalents and short-term investments totaled about $823.4 million, and the company reported retained earnings of $80.1 million, highlighting a solid balance sheet to fund its expanding clinical pipeline across ophthalmology, respiratory, dermatology, oncology and aesthetics.
Krystal Biotech (KRYS) reported strong Q3 2025 results, driven by continued commercialization of VYJUVEK. Product revenue, net reached $97.8 million, up from $83.8 million a year ago, with a 96% gross margin. Income from operations rose to $41.4 million from $22.5 million. A tax benefit contributed to net income of $79.4 million versus $27.2 million last year, and diluted EPS increased to $2.66 from $0.91.
For the nine months, product revenue, net totaled $282.0 million (vs. $199.4 million), with net income of $153.4 million. The company released $48.4 million of valuation allowance on deferred tax assets, reflecting improved profitability. Liquidity remained solid with $392.6 million in cash and cash equivalents, $338.5 million in short‑term investments, and $133.1 million in long‑term investments as of September 30, 2025.
Accounts receivable were $129.6 million with concentration in two customers (Customer A 71%, Customer B 16%). Shares outstanding were 28,984,000 as of September 30, 2025, and 28,997,519 as of October 29, 2025.
Krystal Biotech (KRYS) 10-Q – Q2 2025 highlights
- Revenue: VYJUVEK® drove net product revenue to $96.0 m (+37% YoY); H1 2025 revenue reached $184.2 m (+60%).
- Profitability: Gross margin held at 93%. Income from operations leapt to $39.3 m (vs $8.6 m), thanks to higher sales and the absence of 2024 litigation charges. Net income was $38.3 m ($1.29 diluted EPS) versus $15.6 m ($0.53).
- Cash & Investments: Cash, cash equivalents and short-term investments rose to $682.0 m; total liquidity including long-term investments is $820.8 m. The company expects current resources to fund operations for ≥12 months.
- Expenses: R&D fell 8% YoY to $14.4 m as manufacturing timing shifted; SG&A climbed 27% to $35.2 m reflecting commercial build-out. No litigation settlement expense this quarter (-$12.5 m YoY).
- Balance sheet: Stockholders’ equity surpassed $1.04 bn. Accounts receivable stood at $111.4 m, with ~78% concentrated in one customer.
- Pipeline progress: Multiple Phase 1/2 studies (KB407 CF, KB408 AATD, KB707 oncology, KB803 & KB801 ophthalmology) are enrolling; first EU & Japan launches of VYJUVEK expected H2 2025.
- Risks: DOJ subpoenas regarding genetic-testing program; outcome unknown. Heavy reliance on single product and customer concentration noted.