MNKD · Mannkind Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $90.17M | - | $82.13M | $76.53M | $78.35M | - | $70.08M | $72.39M | $66.26M | - |
| Cost of Revenue | $7.51M | - | $4.50M | $4.61M | $3.77M | - | $3.20M | $5.61M | $3.82M | - |
| Gross Profit | $82.66M | - | $77.63M | $71.92M | $74.59M | - | $66.88M | $66.78M | $62.44M | - |
| R&D | $17.23M | - | $14.06M | $13.68M | $11.02M | - | $12.93M | $11.82M | $10.01M | - |
| SG&A | $54.09M | - | $29.09M | $24.11M | $22.33M | - | $10.82M | $12.62M | $10.73M | - |
| Total Operating Expenses | $91.84M | - | $63.23M | $71.23M | $56.06M | - | $18.02M | $20.38M | $18.60M | - |
| D&A | $6.38M | - | $2.01M | $2.04M | $2.11M | - | $2.10M | $1.71M | $1.36M | - |
| Operating Income | ($1.67M) | - | $18.90M | $5.30M | $22.29M | - | $12.76M | $16.61M | $16.72M | - |
| Interest Expense | $7.48M | - | $1.36M | $6.05M | $2.57M | - | $2.81M | $6.05M | $2.57M | - |
| Income Tax | $253.0K | - | ($204.0K) | $272.0K | $459.0K | - | $1.32M | $323.0K | $264.0K | - |
| Net Income | ($16.62M) | - | $7.99M | $668.0K | $13.16M | - | $11.55M | ($2.01M) | $10.63M | - |
| EPS - Basic | ($0.05) | - | $0.03 | $0.00 | $0.04 | - | $0.04 | ($0.01) | $0.04 | - |
| EPS - Diluted | ($0.05) | - | $0.03 | $0.00 | $0.04 | - | $0.04 | ($0.01) | $0.04 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $52.83M | $74.88M | $127.39M | $57.01M | $47.31M | $46.34M | $62.37M | $96.64M | $193.27M | $238.48M |
| Accounts Receivable | $28.14M | $38.37M | $17.38M | $27.14M | $28.90M | $11.80M | $18.18M | $23.35M | $19.91M | $14.90M |
| Inventory | $49.17M | $35.31M | $26.97M | $28.49M | $28.89M | $27.89M | $26.66M | $24.75M | $26.44M | $28.55M |
| Accounts Payable | $16.14M | $9.03M | $7.27M | $10.26M | $5.04M | $6.79M | $6.44M | $9.56M | $7.15M | $9.58M |
| Current Assets | $251.16M | $291.58M | $358.84M | $279.03M | $273.74M | $268.31M | $327.66M | $325.94M | $383.10M | $373.39M |
| Total Assets | $744.40M | $792.18M | $494.64M | $411.70M | $410.14M | $393.84M | $464.20M | $443.84M | $480.88M | $475.20M |
| Current Liabilities | $134.56M | $171.03M | $109.13M | $111.83M | $115.94M | $81.84M | $72.10M | $80.01M | $99.90M | $104.13M |
| Long-term Debt | $318.72M | $354.64M | $109.65M | $36.17M | $36.11M | $36.05M | $227.94M | $227.58M | $264.15M | $268.70M |
| Total Liabilities | $803.60M | $843.20M | $539.19M | $466.74M | $468.76M | $472.66M | $674.13M | $669.62M | $710.85M | $721.37M |
| Stockholders' Equity | ($59.20M) | ($51.02M) | ($44.55M) | ($55.04M) | ($58.62M) | ($78.82M) | ($209.93M) | ($225.78M) | ($229.97M) | ($246.17M) |
| Retained Earnings | ($3.21B) | ($3.20B) | ($3.18B) | ($3.19B) | ($3.19B) | ($3.20B) | ($3.21B) | ($3.22B) | ($3.22B) | ($3.23B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($5.37M) | - | - | - | ($6.38M) | - | - | - | $6.70M | - |
| Investing Cash Flow | $18.73M | - | - | - | $5.96M | - | - | - | ($48.44M) | - |
| Financing Cash Flow | ($35.41M) | - | - | - | $1.39M | - | - | - | ($3.47M) | - |
| CapEx | $1.88M | - | - | - | $330.0K | - | - | - | $2.41M | - |
| Free Cash Flow | ($7.25M) | - | - | - | ($6.71M) | - | - | - | $4.29M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 91.7% | - | 94.5% | 94.0% | 95.2% | - | 95.4% | 92.3% | 94.2% | - |
| Operating margin | -1.8% | - | 23.0% | 6.9% | 28.5% | - | 18.2% | 22.9% | 25.2% | - |
| EBITDA margin | 5.2% | - | 25.5% | 9.6% | 31.1% | - | 21.2% | 25.3% | 27.3% | - |
| Net margin | -18.4% | - | 9.7% | 0.9% | 16.8% | - | 16.5% | -2.8% | 16.0% | - |
| Free cash flow margin | -8.0% | - | - | - | -8.6% | - | - | - | 6.5% | - |
| FCF / Net income | 0.44 | - | - | - | -0.51 | - | - | - | 0.40 | - |
| R&D / Revenue | 19.1% | - | 17.1% | 17.9% | 14.1% | - | 18.4% | 16.3% | 15.1% | - |
| SG&A / Revenue | 60.0% | - | 35.4% | 31.5% | 28.5% | - | 15.4% | 17.4% | 16.2% | - |
| Effective tax rate | - | - | -2.6% | 28.9% | 3.4% | - | 10.3% | - | 2.4% | - |
| Return on assets | -2.2% | - | 1.6% | 0.2% | 3.2% | - | 2.5% | -0.5% | 2.2% | - |
| Return on equity | 28.1% | - | -17.9% | -1.2% | -22.4% | - | -5.5% | 0.9% | -4.6% | - |
| Return on invested capital | -0.5% | - | 29.0% | - | - | - | 63.6% | 730.2% | 47.7% | - |
| Liquidity | ||||||||||
| Current ratio | 1.87 | 1.70 | 3.29 | 2.50 | 2.36 | 3.28 | 4.54 | 4.07 | 3.84 | 3.59 |
| Quick ratio | 1.50 | 1.50 | 3.04 | 2.24 | 2.11 | 2.94 | 4.17 | 3.76 | 3.57 | 3.31 |
| Cash ratio | 0.39 | 0.44 | 1.17 | 0.51 | 0.41 | 0.57 | 0.87 | 1.21 | 1.93 | 2.29 |
| Leverage | ||||||||||
| Debt / Equity | -5.38 | -6.95 | -2.46 | -0.66 | -0.62 | -0.46 | -1.09 | -1.01 | -1.15 | -1.09 |
| Debt / Assets | 0.43 | 0.45 | 0.22 | 0.09 | 0.09 | 0.09 | 0.49 | 0.51 | 0.55 | 0.57 |
| Debt / EBITDA | 67.60 | - | 5.24 | 4.93 | 1.48 | - | 15.34 | 12.42 | 14.61 | - |
| Interest coverage | -0.2x | - | 13.9x | 0.9x | 8.7x | - | 4.5x | 2.7x | 6.5x | - |
| Equity multiplier | -12.58 | -15.53 | -11.10 | -7.48 | -7.00 | -5.00 | -2.21 | -1.97 | -2.09 | -1.93 |
| Liabilities / Assets | 1.08 | 1.06 | 1.09 | 1.13 | 1.14 | 1.20 | 1.45 | 1.51 | 1.48 | 1.52 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | - | 0.17 | 0.19 | 0.19 | - | 0.15 | 0.16 | 0.14 | - |
| Inventory turnover | 0.15 | - | 0.17 | 0.16 | 0.13 | - | 0.12 | 0.23 | 0.14 | - |
| Days sales outstanding | 114d | - | 77d | 129d | 135d | - | 95d | 118d | 110d | - |
| Days inventory outstanding | 2390d | - | 2189d | 2257d | 2799d | - | 3044d | 1612d | 2527d | - |
| Days payable outstanding | 785d | - | 590d | 813d | 488d | - | 736d | 622d | 683d | - |
| Cash conversion cycle | 1719d | - | 1676d | 1574d | 2445d | - | 2403d | 1107d | 1954d | - |
| Valuation | ||||||||||
| P / E | - | - | 179.0x | - | 125.8x | - | 157.3x | - | 113.3x | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 8.4x | - | 20.4x | 15.2x | 20.6x | - | 25.6x | 19.7x | 22.2x | - |
| EV / EBITDA | 216.6x | - | 79.2x | 155.9x | 65.7x | - | 131.7x | 84.9x | 85.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 15.1% | - | 17.2% | 5.7% | 18.2% | - | 36.7% | 48.9% | 63.1% | - |
| Revenue CAGR (3y) | 30.4% | - | 35.8% | 59.4% | 86.9% | - | 46.7% | 46.0% | 56.1% | - |
| Revenue CAGR (5y) | 38.9% | - | 39.9% | 38.3% | 37.0% | - | 36.9% | 37.0% | 30.6% | - |
| Gross profit growth (YoY) | 10.8% | - | 16.1% | 7.7% | 19.4% | - | 41.5% | 53.9% | 77.9% | - |
| Operating income growth (YoY) | - | - | 48.1% | -68.1% | 33.3% | - | 150.3% | 865.1% | - | - |
| Net income growth (YoY) | - | - | -30.9% | - | 23.8% | - | 571.1% | 61.7% | - | - |
| EPS growth (YoY) | - | - | -25.0% | - | 0.0% | - | 300.0% | 50.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -8.0% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -1.0% | 35.3% | 78.8% | 75.6% | 74.5% | 68.0% | 16.6% | 13.3% | 10.0% | 1.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$348.97M totalAll Other Segments$348.97M · 100.0%
Product / service
$685.55M totalProduct Revenue$216.52M · 31.6%
Royalty$128.12M · 18.7%
Product$114.14M · 16.6%
License And Service$106.71M · 15.6%
Afrezza$74.59M · 10.9%
Furoscix$23.18M · 3.4%
VGo$16.37M · 2.4%
Service$4.33M · 0.6%
Manufacturing Services$1.60M · 0.2%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing MANNKIND CORP against the 5 most active filers in the same SIC group.