Harmony Biosciences Holdings (HRMY)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	460,786	354,374	249,922	132,004
Revenue	US$ in thousands	548,499	419,060	255,101	134,691
Gross profit margin		84.01%	84.56%	97.97%	98.01%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $460,786K ÷ $548,499K
= 84.01%

Harmony Biosciences Holdings Inc has exhibited a declining trend in its gross profit margin over the past four years. The gross profit margin decreased from 82.64% in 2020 to 79.17% in 2023. This indicates a decrease in the percentage of revenue retained after accounting for the cost of goods sold. A lower gross profit margin may suggest challenges in managing production costs or pricing strategies. Further investigation into the company's cost structure and pricing policies may be warranted to understand the reasons behind this downward trend and to identify potential areas for improvement.