MANNKIND CORP

EDGAR

Annual consolidated revenue for 2025: about USD 349M, using the latest reported figures. The previous period, 2024, was about USD 285.5M.

Watchlist

Latest quarter

Revenue

109 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-0.32%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -350000 USD Source
  • Revenue: 109374000 USD Source

Operating cash flow

-18.4 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -23736000 USD Source
  • Operating Cash Flow: -5365000 USD Source

Free cash flow

-23.5 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -23736000 USD Source
  • Operating Cash Flow: -5365000 USD Source
  • Capital Expenditure: 6962000 USD Source
  • Capital Expenditure: 1880000 USD Source
Cash and cash equivalents
52.9 million USD Source
Exact value

52929000 USD

Long-term debt including current maturities
319 million USD Source
Exact value

319085000 USD

Shares outstanding
310 million shares Source
Exact value

309911682 shares

Reported share-count change

1.17% · 3.58 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 306332133 shares · 2025-06-30· Source
  • 309911682 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

394 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 82130000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 348966000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 237011000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 90171000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 109374000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-43.6 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 7985000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 5863000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 21811000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: -16619000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -19032000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

-8.05 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 26213000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 2573000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 18255000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 26213000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -5365000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: -23736000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: -5365000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

10.1 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 2572000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 1447000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 4566000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 2572000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 1880000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 6962000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 1880000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

-18.1 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 26213000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 2573000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 18255000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 26213000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -5365000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: -23736000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: -5365000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 2572000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 1447000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 4566000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 2572000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 1880000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 6962000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 1880000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-05.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 10 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 9 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +22.2%

    Prior period

    USD 285.5 million

    –

    Current period

    USD 348.97 million

    –

    Exact inputs and evidence

    348966000 − 285504000 = 63462000 USD

    285504000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    348966000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    -78.7%

    Prior period

    USD 27.59 million

    –

    Current period

    USD 5.86 million

    –

    Exact inputs and evidence

    5863000 − 27588000 = -21725000 USD

    27588000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    5863000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -57.1%

    Prior period

    USD 42.51 million

    –

    Current period

    USD 18.26 million

    –

    Exact inputs and evidence

    18255000 − 42511000 = -24256000 USD

    42511000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    18255000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -52.9%

    Prior period

    USD 9.69 million

    –

    Current period

    USD 4.57 million

    –

    Exact inputs and evidence

    4566000 − 9693000 = -5127000 USD

    9693000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    4566000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 348.97 million 100% of revenue
  • Cost of revenue USD 26.8 million 7.7% of revenue
  • Operating expenses USD 87.96 million 25% of revenue
  • Other operating costs Derived USD 195.41 million 56% of revenue
  • Operating income USD 38.8 million 11% of revenue
  • Tax, interest and other Derived USD 32.94 million 9.4% of revenue
  • Net income USD 5.86 million 1.7% of revenue

Cash

  • Operating cash flow USD 18.26 million 5.2% of revenue
  • Capital expenditure USD 4.57 million 1.3% of revenue
  • Free cash flow Derived USD 13.69 million 3.9% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Net income was higher than operating income, so the split is not drawn.
  • 2017 Operating loss: operating costs were 1,021% of revenue.
  • 2018 Operating loss: operating costs were 375% of revenue.
  • 2019 Operating loss: operating costs were 171% of revenue.
  • 2020 Operating loss: operating costs were 174% of revenue.
  • 2021 Operating loss: operating costs were 162% of revenue.
  • 2022 Operating loss: operating costs were 164% of revenue.
  • 2023 Net loss: net income was −6% of revenue.
  • 2024 9.7%16%75%
  • 2025 9.4%89%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31174758000 107498000 Derived 67260000 -58404000 Derived 125664000 -79234000 Derived
Source
2017 2017-01-01 – 2017-12-3111745000 119934000 Derived -108189000 9144000 Derived -117333000 Unavailable
Source
2018 2018-01-01 – 2018-12-3127859000 104454000 Derived -76595000 10380000 Derived -86975000 -38085000 Derived
Source
2019 2019-01-01 – 2019-12-3163038000 107635000 Derived -44597000 7306000 Derived -51903000 -91048000 Derived
Source
2020 2020-01-01 – 2020-12-3165144000 113057000 Derived -47913000 9327000 Derived -57240000 -28929000 Derived
Source
2021 2021-01-01 – 2021-12-3175442000 122464000 Derived -47022000 33904000 Derived -80926000 -73175000 Derived
Source
2022 2022-01-01 – 2022-12-3199770000 163880000 Derived -64110000 23290000 Derived -87400000 -88268000 Derived
Source
2023 2023-01-01 – 2023-12-31198962000 190284000 Derived 8678000 20616000 Derived -11938000 -8347000 Derived
Source
2024 2024-01-01 – 2024-12-31285504000 212917000 Derived 72587000 44999000 Derived 27588000 32818000 Derived
Source
2025 2025-01-01 – 2025-12-31348966000 310165000 Derived 38801000 32938000 Derived 5863000 13689000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 349M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.376.9M282.7M188.4M94.2M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue174758000
2017Revenue11745000
2018Revenue27859000
2019Revenue63038000
2020Revenue65144000
2021Revenue75442000
2022Revenue99770000
2023Revenue198962000
2024Revenue285504000
2025Revenue348966000

Revenue growth

Change in revenue from the same financial period one year earlier.

22.2% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.156%89%22%-45%-112%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year-93.3%
2018Year over year137.2%
2019Year over year126.3%
2020Year over year3.3%
2021Year over year15.8%
2022Year over year32.2%
2023Year over year99.4%
2024Year over year43.5%
2025Year over year22.2%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 11.1% 2025
Net margin 1.7% 2025
Free cash flow margin 3.9% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.158%-153%-464%-774%-1,085%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin38.5%
2017Operating margin-921.1%
2018Operating margin-274.9%
2019Operating margin-70.7%
2020Operating margin-73.5%
2021Operating margin-62.3%
2022Operating margin-64.3%
2023Operating margin4.4%
2024Operating margin25.4%
2025Operating margin11.1%
2016Net margin71.9%
2017Net margin-999%
2018Net margin-312.2%
2019Net margin-82.3%
2020Net margin-87.9%
2021Net margin-107.3%
2022Net margin-87.6%
2023Net margin-6%
2024Net margin9.7%
2025Net margin1.7%
2016Free cash flow margin-45.3%
2017Free cash flow marginNot reported
2018Free cash flow margin-136.7%
2019Free cash flow margin-144.4%
2020Free cash flow margin-44.4%
2021Free cash flow margin-97%
2022Free cash flow margin-88.5%
2023Free cash flow margin-4.2%
2024Free cash flow margin11.5%
2025Free cash flow margin3.9%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 18.3M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.53.0M15.0M-23.0M-61.0M-99.0M201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow-78090000
2017Operating cash flow-64778000
2018Operating cash flow-37731000
2019Operating cash flow-88483000
2020Operating cash flow-28128000
2021Operating cash flow-61709000
2022Operating cash flow-80679000
2023Operating cash flow34094000
2024Operating cash flow42511000
2025Operating cash flow18255000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 13.7M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.42.7M6.8M-29.1M-65.0M-101.0M201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow-79234000
2017Free cash flowUnavailable
2018Free cash flow-38085000
2019Free cash flow-91048000
2020Free cash flow-28929000
2021Free cash flow-73175000
2022Free cash flow-88268000
2023Free cash flow-8347000
2024Free cash flow32818000
2025Free cash flow13689000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

106.4% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.382%287%191%96%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets271.5%
2017Liabilities / assets353.9%
2018Liabilities / assets262.6%
2019Liabilities / assets303.3%
2020Liabilities / assets266.1%
2021Liabilities / assets165.2%
2022Liabilities / assets184.8%
2023Liabilities / assets151.8%
2024Liabilities / assets120%
2025Liabilities / assets106.4%

Current assets to current liabilities

Current assets divided by current liabilities.

1.7× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.90×3.68×2.45×1.23×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities0.84×
2017Current assets / current liabilities0.65×
2018Current assets / current liabilities1.09×
2019Current assets / current liabilities0.93×
2020Current assets / current liabilities1.08×
2021Current assets / current liabilities4.54×
2022Current assets / current liabilities3.49×
2023Current assets / current liabilities3.59×
2024Current assets / current liabilities3.28×
2025Current assets / current liabilities1.7×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 125.66 million
Exact value

Exact value: 125664000 USD

2016-01-01 – 2016-12-31: 125664000 USD Inspect Net Income Open source
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−USD 78.09 million
Exact value

Exact value: -78090000 USD

2016-01-01 – 2016-12-31: -78090000 USD Inspect Operating Cash Flow Open source
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USD 1.14 million
Exact value

Exact value: 1144000 USD

2016-01-01 – 2016-12-31: 1144000 USD Inspect Capital Expenditure Open source
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−USD 79.23 million
Calculation and evidence

-78090000 − 1144000 USD

Exact free cash flow: -79234000 USD

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2017 2017-01-01 – 2017-12-31
−USD 117.33 million
Exact value

Exact value: -117333000 USD

2017-01-01 – 2017-12-31: -117333000 USD Inspect Net Income Open source
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−USD 64.78 million
Exact value

Exact value: -64778000 USD

2017-01-01 – 2017-12-31: -64778000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
−USD 86.98 million
Exact value

Exact value: -86975000 USD

2018-01-01 – 2018-12-31: -86975000 USD Inspect Net Income Open source
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−USD 37.73 million
Exact value

Exact value: -37731000 USD

2018-01-01 – 2018-12-31: -37731000 USD Inspect Operating Cash Flow Open source
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USD 354,000
Exact value

Exact value: 354000 USD

2018-01-01 – 2018-12-31: 354000 USD Inspect Capital Expenditure Open source
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−USD 38.09 million
Calculation and evidence

-37731000 − 354000 USD

Exact free cash flow: -38085000 USD

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2019 2019-01-01 – 2019-12-31
−USD 51.9 million
Exact value

Exact value: -51903000 USD

2019-01-01 – 2019-12-31: -51903000 USD Inspect Net Income Open source
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−USD 88.48 million
Exact value

Exact value: -88483000 USD

2019-01-01 – 2019-12-31: -88483000 USD Inspect Operating Cash Flow Open source
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USD 2.57 million
Exact value

Exact value: 2565000 USD

2019-01-01 – 2019-12-31: 2565000 USD Inspect Capital Expenditure Open source
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−USD 91.05 million
Calculation and evidence

-88483000 − 2565000 USD

Exact free cash flow: -91048000 USD

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2020 2020-01-01 – 2020-12-31
−USD 57.24 million
Exact value

Exact value: -57240000 USD

2020-01-01 – 2020-12-31: -57240000 USD Inspect Net Income Open source
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−USD 28.13 million
Exact value

Exact value: -28128000 USD

2020-01-01 – 2020-12-31: -28128000 USD Inspect Operating Cash Flow Open source
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USD 801,000
Exact value

Exact value: 801000 USD

2020-01-01 – 2020-12-31: 801000 USD Inspect Capital Expenditure Open source
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−USD 28.93 million
Calculation and evidence

-28128000 − 801000 USD

Exact free cash flow: -28929000 USD

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2021 2021-01-01 – 2021-12-31
−USD 80.93 million
Exact value

Exact value: -80926000 USD

2021-01-01 – 2021-12-31: -80926000 USD Inspect Net Income Open source
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−USD 61.71 million
Exact value

Exact value: -61709000 USD

2021-01-01 – 2021-12-31: -61709000 USD Inspect Operating Cash Flow Open source
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USD 11.47 million
Exact value

Exact value: 11466000 USD

2021-01-01 – 2021-12-31: 11466000 USD Inspect Capital Expenditure Open source
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−USD 73.18 million
Calculation and evidence

-61709000 − 11466000 USD

Exact free cash flow: -73175000 USD

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2022 2022-01-01 – 2022-12-31
−USD 87.4 million
Exact value

Exact value: -87400000 USD

2022-01-01 – 2022-12-31: -87400000 USD Inspect Net Income Open source
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−USD 80.68 million
Exact value

Exact value: -80679000 USD

2022-01-01 – 2022-12-31: -80679000 USD Inspect Operating Cash Flow Open source
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USD 7.59 million
Exact value

Exact value: 7589000 USD

2022-01-01 – 2022-12-31: 7589000 USD Inspect Capital Expenditure Open source
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−USD 88.27 million
Calculation and evidence

-80679000 − 7589000 USD

Exact free cash flow: -88268000 USD

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2023 2023-01-01 – 2023-12-31
−USD 11.94 million
Exact value

Exact value: -11938000 USD

2023-01-01 – 2023-12-31: -11938000 USD Inspect Net Income Open source
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USD 34.09 million
Exact value

Exact value: 34094000 USD

2023-01-01 – 2023-12-31: 34094000 USD Inspect Operating Cash Flow Open source
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USD 42.44 million
Exact value

Exact value: 42441000 USD

2023-01-01 – 2023-12-31: 42441000 USD Inspect Capital Expenditure Open source
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−USD 8.35 million
Calculation and evidence

34094000 − 42441000 USD

Exact free cash flow: -8347000 USD

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2024 2024-01-01 – 2024-12-31
USD 27.59 million
Exact value

Exact value: 27588000 USD

2024-01-01 – 2024-12-31: 27588000 USD Inspect Net Income Open source
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USD 42.51 million
Exact value

Exact value: 42511000 USD

2024-01-01 – 2024-12-31: 42511000 USD Inspect Operating Cash Flow Open source
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USD 9.69 million
Exact value

Exact value: 9693000 USD

2024-01-01 – 2024-12-31: 9693000 USD Inspect Capital Expenditure Open source
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USD 32.82 million
Calculation and evidence

42511000 − 9693000 USD

Exact free cash flow: 32818000 USD

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2025 2025-01-01 – 2025-12-31
USD 5.86 million
Exact value

Exact value: 5863000 USD

2025-01-01 – 2025-12-31: 5863000 USD Inspect Net Income Open source
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USD 18.26 million
Exact value

Exact value: 18255000 USD

2025-01-01 – 2025-12-31: 18255000 USD Inspect Operating Cash Flow Open source
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USD 4.57 million
Exact value

Exact value: 4566000 USD

2025-01-01 – 2025-12-31: 4566000 USD Inspect Capital Expenditure Open source
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USD 13.69 million
Calculation and evidence

18255000 − 4566000 USD

Exact free cash flow: 13689000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

121 filings · 5,427 latest values · 5,427 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000899460, 899460, MNKD, edgar:899460

Also known as MANNKIND CORP, MannKind Corporation