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Krystal Biotech, Inc., a commercial-stage biotechnology company, discovers, develops, manufactures, and commercializes genetic medicines to treat diseases with high unmet medical needs in the United States. The company commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB). It also develops KB803 for ocular complications of dystrophic epidermolysis bullosa; KB801 for neurotrophic keratitis; KB407, which is in Phase 1 clinical trials for treating cystic fibrosis; KB111 for Hailey-Hailey disease; KB707 for solid tumors; KB304 for dynamic wrinkles; KB707 that is in Phase 1/2 clinical trials for the treatment of anti-PD-1 relapsed/refractory; KB408, which is in Phase 1 clinical trials for treating Alpha-1 antitrypsin deficiency; and KB301 that is in Phase 2 clinical trials for treating aesthetic skin conditions, as well as in open label study with ophthalmic B-VEC for treating for ocular complications of deb. Krystal Biotech, Inc. was founded in 2016 and is headquartered in Pittsburgh, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $389M | $168M | $205M | $189M | 16.8% | 33.9% | 129.7% |
| 2024 | $291M | $110M | $89M | $119M | 9.4% | 473.0% | 715.6% |
| 2023 | $51M | $-91M | $11M | $-101M | 1.4% | - | -107.8% |
| 2022 | $0M | $-117M | $-140M | $-154M | -26.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 50.70 | 290.52 | 389.13 |
| Cost Of Revenue | - | 0 | 3.09 | 20.06 | 23.05 |
| Gross Profit | - | 0 | 47.60 | 270.45 | 366.08 |
| Operating Expense | - | 120.20 | 144.72 | 167.21 | 204.79 |
| Operating Income | - | -120.20 | -97.12 | 103.25 | 161.29 |
| EBITDA | - | -116.81 | -91.21 | 109.96 | 167.85 |
| EBIT | - | -120.20 | -97.12 | 103.25 | 161.29 |
| Pretax Income | - | -139.98 | 12.90 | 95.36 | 189.47 |
| Tax Provision | - | 0 | 1.96 | 6.20 | -15.36 |
| Net Income | - | -139.98 | 10.93 | 89.16 | 204.83 |
| Net Income Common Stockholders | - | -139.98 | 10.93 | 89.16 | 204.83 |
| Total Expenses | - | 120.20 | 147.82 | 187.27 | 227.84 |
| Interest Expense | 1.49 | 0 | 0 | - | - |
| Interest Income | - | 5.22 | 22.51 | 29.61 | 28.18 |
| Research And Development | - | 42.46 | 46.43 | 53.58 | 58.04 |
| Selling General And Administration | - | 77.74 | 98.29 | 113.63 | 146.74 |
| Normalized EBITDA | - | -91.81 | -178.71 | 147.46 | 167.85 |
| Normalized Income | - | -114.98 | -63.24 | 124.22 | 204.83 |
| Market Cap | 8,021.83 | 8,021.83 | 8,021.83 | 8,021.83 | 8,021.83 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Krystal Biotech, Inc.this co. | KRYS | $7.9B | 39.16↑ premium | 6.58 | 16.8% | 44.89 |
| Revvity, Inc. | RVTY | $10.1B | 40.22 | 1.34 | 3.3% | 15.90 |
| Molina Healthcare, Inc. | MOH | $9.3B | 19.42 | 2.25 | 11.6% | 9.09 |
| Bio-Techne Corporation | TECH | $8.5B | 115.50 | 4.42 | 3.8% | 40.39 |
| Alkermes plc | ALKS | $5.5B | 22.97 |
| - |
| - |
| - |
| - |
| - |
| 3.05 |
| 13.3% |
| 15.81 |
| PTC Therapeutics, Inc. | PTCT | $5.4B | 8.29 | -27.55 | -332.5% | 8.31 |
| TG Therapeutics, Inc. | TGTX | $5.3B | 13.08 | 9.02 | 69.0% | 44.82 |
| Apellis Pharmaceuticals, Inc. | APLS | $5.1B | 233.78 | 14.14 | 6.0% | 74.89 |
| Corcept Therapeutics Incorporated | CORT | $4.8B | 49.62 | 7.63 | 15.4% | 103.46 |
| Peer Median | - | 31.60 | 3.73 | 8.8% | 28.15 | |