Rhythm Pharmaceuticals, Inc. (RYTM) Income Statement
RYTM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRYTM revenue and net income
Where RYTM's revenue goes
2025Each bar shows an amount and its share of revenue. RYTM kept −103.6% of revenue as net income.
RYTM profit margins
RYTM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +45.8% | +100.2% | +458.2% | — |
| Gross profit | +45.8% | +99.3% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RYTM quarterly EPS vs estimates
Rhythm Pharmaceuticals beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 3, 2026 (estimate $-0.68).
RYTM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $189.8M | $130.1M | $77.4M | $23.6M | $3.2M | $35,000 | $0 | $0 | $0 | $0 |
| Cost of revenue | $19.5M | $13.4M | $9.3M | $2.1M | $599,000 | $690,000 | $834,000 | $442,000 | $223,000 | $144,000 |
| Gross profit | $170.3M | $116.8M | $68.1M | $21.5M | $2.6M | −$690,000 | −$834,000 | −$442,000 | −$223,000 | −$144,000 |
| Research & development | $167.3M | $238.0M | $135.0M | $108.6M | $104.1M | $90.5M | $109.5M | $50.3M | $22.9M | $19.6M |
| Sales, general & admin | $194.9M | $144.3M | $111.5M | $92.0M | $68.5M | $46.1M | $36.5M | $28.1M | $9.5M | $6.3M |
| Total operating expenses | $362.3M | $382.3M | $252.5M | $200.7M | $172.6M | $136.6M | $146.0M | $78.4M | $32.4M | $25.9M |
| Operating income | −$192.0M | −$265.5M | −$184.4M | −$179.2M | −$170.1M | −$136.6M | −$146.0M | −$78.4M | −$32.4M | −$25.9M |
| Interest income | $15.3M | $14.7M | $13.2M | $4.0M | $447,000 | $2.6M | $5.3M | $4.4M | $566,000 | $33,000 |
| Interest expense | $20.6M | $20.6M | $13.9M | $5.2M | $100.4M | $0 | $0 | $0 | $0 | $0 |
| Income before taxes | −$196.0M | −$260.3M | −$184.1M | −$181.1M | −$69.6M | −$134.0M | −$140.7M | −$74.1M | −$33.7M | −$25.9M |
| Income taxes | $497,000 | $346,000 | $564,000 | $2.0M | −$1.6M | −$3.3M | −$6.1M | $4.4M | $1.1M | $0 |
| Net income | −$196.5M | −$260.6M | −$184.7M | −$181.1M | −$68.0M | −$130.7M | −$134.6M | −$74.1M | −$33.7M | −$25.9M |
| EBITDA | −$174.1M | −$238.1M | −$168.5M | −$174.2M | −$168.9M | −$135.9M | −$145.2M | −$78.0M | −$32.2M | −$25.8M |
| EPS (diluted) | −$3.11 | −$4.35 | −$3.20 | −$3.48 | −$3.41 | −$3.05 | −$3.90 | −$2.38 | −$1.77 | −$1.55 |
| Gross margin | 89.7% | 89.7% | 88.0% | 91.0% | 81.0% | −1,971.4% | — | — | — | — |
| Operating margin | −101.2% | −204.0% | −238.1% | −757.9% | −5,391.9% | −390,214.3% | — | — | — | — |
| Net margin | −103.6% | −200.3% | −238.5% | −766.2% | −2,156.2% | −373,505.7% | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $71.3M | $60.1M | $57.3M | $51.3M | $48.5M | $32.7M | $41.8M | $33.3M | $29.1M | $26.0M | $24.2M | $22.5M |
| Cost of revenue | $8.9M | $7.2M | $4.8M | $5.5M | $5.5M | $3.6M | $3.8M | $3.8M | $2.9M | $2.8M | $3.2M | $2.4M |
| Gross profit | $62.3M | $53.0M | $52.5M | $45.8M | $43.0M | $29.1M | $38.0M | $29.4M | $26.1M | $23.2M | $21.0M | $20.1M |
| Research & development | $43.4M | $41.7M | $42.0M | $46.0M | $42.3M | $37.0M | $41.2M | $37.9M | $30.0M | $128.5M | $29.9M | $33.6M |
| Sales, general & admin | $67.4M | $63.6M | $57.5M | $52.4M | $45.9M | $39.1M | $38.1M | $35.4M | $36.4M | $34.4M | $32.4M | $30.5M |
| Total operating expenses | $110.9M | $105.3M | $99.5M | $98.5M | $88.3M | $76.1M | $79.3M | $73.3M | $66.6M | $163.0M | $62.3M | $64.0M |
| Operating income | −$48.6M | −$52.4M | −$47.1M | −$52.7M | −$45.3M | −$47.0M | −$41.3M | −$43.9M | −$40.5M | −$139.9M | −$41.3M | −$44.0M |
| Interest income | $3.2M | $3.6M | $4.1M | $4.3M | $3.2M | $3.6M | $3.5M | $4.1M | $4.1M | $3.0M | $3.8M | $3.5M |
| Interest expense | $4.5M | $4.6M | $4.6M | $4.7M | $5.8M | $5.4M | $5.4M | $5.2M | $4.6M | $4.8M | $4.5M | $3.1M |
| Income before taxes | −$48.9M | −$55.1M | −$47.5M | −$52.8M | −$46.3M | −$49.4M | −$43.4M | −$44.0M | −$31.8M | −$141.1M | −$41.4M | −$43.8M |
| Income taxes | $444,000 | $545,000 | −$31,000 | $111,000 | $337,000 | $80,000 | −$90,000 | −$344,000 | $479,000 | $300,000 | $196,000 | $368,000 |
| Net income | −$49.3M | −$55.6M | −$47.5M | −$52.9M | −$46.6M | −$49.5M | −$43.3M | −$43.6M | −$32.3M | −$141.4M | −$41.6M | −$44.2M |
| EBITDA | −$44.1M | −$50.3M | −$42.6M | −$47.7M | −$40.1M | −$43.6M | −$37.6M | −$38.4M | −$26.8M | −$135.9M | −$36.5M | −$40.2M |
| EPS (diluted) | −$0.73 | −$0.83 | −$0.73 | −$0.82 | −$0.75 | −$0.81 | −$0.72 | −$0.73 | −$0.55 | −$2.35 | −$0.70 | −$0.76 |
| Gross margin | 87.5% | 88.1% | 91.6% | 89.3% | 88.6% | 88.8% | 90.9% | 88.5% | 89.9% | 89.2% | 86.7% | 89.3% |
| Operating margin | −68.1% | −87.1% | −82.2% | −102.6% | −93.4% | −143.7% | −98.6% | −132.0% | −139.2% | −538.7% | −170.3% | −195.3% |
| Net margin | −69.2% | −92.6% | −83.0% | −103.1% | −96.1% | −151.4% | −103.5% | −131.2% | −110.9% | −544.4% | −171.8% | −196.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RYTM's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RYTM financial results
In fiscal year 2025 (ended December 31, 2025), Rhythm Pharmaceuticals reported revenue of $189.8 million, up 45.8% from the year before. It had a net loss of $196.5 million, a net profit margin of −103.6%. Diluted earnings per share came to −$3.11. Over five years revenue grew at an average rate of 458.2% a year.
See the RYTM stock overview for the latest quote and news, or the RYTM chart for price history and technical indicators.
RYTM income statement FAQ
What is Rhythm Pharmaceuticals's annual revenue?
Rhythm Pharmaceuticals reported total revenue of $189.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 45.8% from $130.1 million the previous year.
Is Rhythm Pharmaceuticals profitable?
No. Rhythm Pharmaceuticals reported a net loss of $196.5 million in fiscal 2025, a net profit margin of −103.6%; its operating margin was −101.2%.
What is Rhythm Pharmaceuticals's gross margin?
Rhythm Pharmaceuticals's gross margin was 89.7% in fiscal 2025: for every $100 of revenue, Rhythm Pharmaceuticals kept $90 after the direct cost of its products and services.
How much does Rhythm Pharmaceuticals spend on research and development?
Rhythm Pharmaceuticals spent $167.3 million on research and development in fiscal 2025, 88.2% of revenue.
How fast is Rhythm Pharmaceuticals growing?
Revenue grew 458.2% a year on average over the last five fiscal years, from $0.0 million to $189.8 million.
What are Rhythm Pharmaceuticals's earnings per share?
Rhythm Pharmaceuticals earned $-3.11 per diluted share in fiscal 2025, compared with $-4.35 a year earlier.
When will Rhythm Pharmaceuticals report its next earnings?
Rhythm Pharmaceuticals is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does Rhythm Pharmaceuticals's fiscal year end?
Rhythm Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.