Harmony Biosciences Holdings (HRMY)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	173,396	177,810	133,945	119,081	104,686	85,058	66,569	53,427	37,428	12,747	25,178
Revenue (ttm)	US$ in thousands	548,499	507,747	476,532	451,378	419,060	383,158	319,980	290,957	268,890	236,824	233,336
Pretax margin		31.61%	35.02%	28.11%	26.38%	24.98%	22.20%	20.80%	18.36%	13.92%	5.38%	10.79%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $173,396K ÷ $548,499K
= 31.61%

Harmony Biosciences Holdings Inc has displayed a consistent improvement in its pretax margin over the past eight quarters. The company's pretax margin has shown a positive trend, increasing from 16.14% in Q1 2022 to 29.79% in Q4 2023. This indicates that the company has been effectively managing its operating expenses and generating higher profitability relative to its revenue. The steady growth in pretax margin suggests that Harmony Biosciences Holdings Inc is efficiently controlling its costs and operating more efficiently over time, thus enhancing its overall financial performance.