Krystal Biotech, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 2, 2026, reporting continued profitability and growth in net product revenue.

Key Highlights

  • Quarterly net product revenue: $127,341 thousand for the three months ended September 30, 2026, compared to $97,800 thousand in the same period of 2025, according to the filing.
  • Nine-month net product revenue: $362,920 thousand for the nine months ended September 30, 2026, up from $282,025 thousand in the prior-year period.
  • Q3 2026 net income: $63,068 thousand, compared to $79,365 thousand in Q3 2025, with diluted earnings per share of $2.05 versus $2.66 in the year-ago quarter.
  • Nine-month net income: $173,768 thousand for the nine months ended September 30, 2026, versus $153,431 thousand for the same period in 2025.
  • Total assets: $1,586,056 thousand as of September 30, 2026, up from $1,333,794 thousand as of December 31, 2025.
  • Retained earnings: $197,931 thousand as of September 30, 2026, compared to $24,163 thousand as of December 31, 2025.
  • Shares outstanding: 29,633,472 shares of common stock issued and outstanding as of October 28, 2026, per the filing cover page.

Krystal Biotech's Financial Results for the Quarter and Nine Months Ended September 30, 2026

According to the 10-Q filed with the SEC, Krystal Biotech, Inc. (NASDAQ:KRYS) reported net product revenue of $127,341 thousand for the three months ended September 30, 2026, an increase from $97,800 thousand in the comparable quarter of 2025. For the nine months ended September 30, 2026, net product revenue totaled $362,920 thousand, versus $282,025 thousand in the first nine months of 2025. The company reported income from operations of $71,145 thousand in Q3 2026, compared to $41,374 thousand in Q3 2025.

The filing disclosed total operating expenses of $56,196 thousand for Q3 2026, compared to $56,426 thousand in Q3 2025. Cost of goods sold was $7,556 thousand, research and development expense was $14,891 thousand, and selling, general and administrative expense was $33,749 thousand for the three months ended September 30, 2026. Interest and other income, net, was $9,000 thousand for Q3 2026. Income tax expense was $17,077 thousand in Q3 2026, compared to a tax benefit of $31,398 thousand in Q3 2025, which contributed to the lower reported net income of $63,068 thousand versus $79,365 thousand in the year-ago quarter.

On the balance sheet, total assets reached $1,586,056 thousand as of September 30, 2026, compared to $1,333,794 thousand as of December 31, 2025. Cash and cash equivalents stood at $462,841 thousand, and the company held $449,010 thousand in short-term investments and $282,301 thousand in long-term investments. Total stockholders' equity was $1,435,584 thousand as of September 30, 2026, up from $1,219,560 thousand at year-end 2025. Accrued rebates increased to $94,184 thousand from $58,181 thousand at December 31, 2025, the filing noted.

What Was Disclosed

Krystal Biotech filed its quarterly report covering the period ended September 30, 2026, disclosing net product revenue, operating income, net income, earnings per share, and balance sheet figures including total assets of $1,586,056 thousand and retained earnings of $197,931 thousand.