MannKind (MNKD) Financial Statements & Analysis

MannKind (MNKD) Income Statement

MannKind reported revenue of $348.97M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 22.2% from $285.50M a year earlier. Net income was $5.86M, down 78.7% year over year, a net margin of 1.7%. Gross margin was 74.8% and operating margin 11.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $109.37M, up 42.9% from the same quarter a year earlier.

MannKind Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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MannKind Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	348.97	285.50	198.96	99.77	75.44	65.14	63.04	27.86	11.75
Cost of Revenue	87.96	76.60	62.77	57.50	38.86	24.64	27.98	20.48	17.23
Gross Profit	261.01	208.90	136.19	42.27	36.59	40.50	35.06	7.38	-5.48
Operating Expenses
Research & Development	66.35	45.89	31.28	19.72	12.31	6.25	6.90	8.74	14.12
Selling, General & Administrative	144.14	94.33	94.31	91.47	77.42	59.04	74.67	79.72	74.96
Operating Expenses	222.21	140.22	127.51	106.38	83.61	88.42	79.66	88.44	88.86
Operating Income	38.80	68.68	8.68	-64.11	-47.02	-47.91	-44.60	-76.60	-108.19
Other Income/Expense
Interest Income	8.05	12.62	6.15	2.51	0.11	0.17	1.00	0.50	0.29
Interest Expense	37.82	37.77	-25.16	24.77	16.58	9.47	10.91	9.44	13.28
Other Income/Expense	-37.39	-12.80	-19.06	-23.29	-33.90	-9.55	-7.31	-10.14	-9.09
Income
Income Before Tax	1.41	30.52	-10.38	-87.40	-80.93	-57.46	-51.90	-86.74	-117.28
Income Tax Expense	-4.46	2.93	1.56	0.00	0.00	-0.22	0.00	0.24	0.05
Net Income	5.86	27.59	-11.94	-87.40	-80.93	-57.24	-51.90	-86.98	-117.33
Net Income - Continuous Operations	5.86	27.59	-11.94	-87.40	-80.93	-57.24	-51.90	-86.98	-117.33
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	58.83	75.66	15.13	-56.32	-61.11	-44.66	-38.84	-75.60	-102.21
EBIT	46.55	68.29	10.59	-62.63	-53.14	-24.79	-	-	-
Depreciation & Amortization	3.97	7.37	4.54	6.31	3.24	3.33	2.15	1.70	1.80
Earnings Per Share
Basic EPS	-	-	-	-	-	-	-	-1.00	-1.00
Diluted EPS	-	-	-	-	-	-	-	-1.00	-1.00
Basic Shares Outstanding	274.42	274.42	267.01	257.09	249.24	222.59	195.58	144.14	103.83
Diluted Shares Outstanding	314.11	283.84	267.01	257.09	249.24	222.59	195.58	144.14	104.25

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About MannKind Financial Statements

What was MannKind's revenue in fiscal 2025?

MannKind reported revenue of $348.97M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 22.2% from $285.50M a year earlier.

Is MannKind profitable?

Yes. MannKind earned net income of $5.86M in fiscal 2025, a net margin of 1.7%. In fiscal 2024 it earned $27.59M.

What is MannKind's operating margin?

MannKind's operating income was $38.80M on revenue of $348.97M in fiscal 2025, an operating margin of 11.1%, compared with 24.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition