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NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

MannKind Corp. MNKD

19 fiscal years on record · USD · FY2025 reported · SEC filings only
$349.0M
▲ 22.2% YoY
$5.9M
▼ 78.7% YoY
$13.7M
▼ 58.3% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

MannKind Corporation develops and commercializes treatments for cardiometabolic and orphan lung diseases, including diabetes, pulmonary hypertension, and fluid overload in heart failure and chronic kidney disease. Its cardiometabolic business is comprised of three commercial products: Afrezza (insulin human) Inhalation Powder, Furoscix (furosemide injection), and the V-Go wearable insulin delivery device. Afrezza is an ultra rapid-acting inhaled insulin indicated to improve glycemic control in adults with diabetes, developed by the company as a dry powder formulation of human insulin delivered from a small portable inhaler. Furoscix is a formulation of furosemide that delivers an 80 mg dose via an on-body infusor over a five-hour period and is indicated for the treatment of edema in pediatric patients who weigh at least 43 kg and adult patients with chronic heart failure or chronic kidney disease. V-Go is a mechanical basal-bolus insulin delivery system worn like a patch that administers a continuous preset basal rate of insulin over 24 hours with on-demand bolus dosing at mealtimes. The company's first product to address an orphan lung disease, Tyvaso DPI (treprostinil) inhalation powder, received FDA approval in May 2022 for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. As of December 31, 2025, it had 592 total at-will employees, of whom 591 were full-time. MannKind Corporation was incorporated in the State of Delaware on February 14, 1991.

Written from the business description in MANNKIND CORP's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

USD 349.0M
Revenue, FY2025 · full 19-year series below
Revenue $M Net income $M
FY2025 · Revenue 349.0 · Net income 5.9
150M300M-150M-300M
2007201020132016201920222025
Compound annual growth
+51.8%
+39.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +39.9% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 11.1% · Net 1.7%
-200000%-400000%
200720162025
ROE
FY2008 · ROE -134.4%
-50%-100%
200720162025
Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.

Return on equity has no reading this year — return on capital employed, just below, still does: 8%.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 13.7
15M30M-100M-200M
200720162025

Total assetsUSD 792.2M
EquityUSD -51.0M
CashUSD 74.9M
Gross debtUSD 354.6M
Net debtUSD 279.8M
Current ratio1.70×

Equity was zero or negative — liabilities equaled or exceeded assets. No ratio is shown.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
MNKD, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B0.30.30.20.10.10.10.10.00.00.20.00.00.00.00.00.0◌◌◌
Operating income $B0.00.10.0−0.1−0.0−0.0−0.0−0.1−0.10.1−0.3−0.2−0.2−0.1−0.1−0.2−0.2◌◌
EBITDA $B0.00.10.0−0.1−0.0−0.0−0.0−0.1−0.10.1−0.3−0.2−0.2−0.1−0.1−0.1◌◌◌
Income tax $B−0.00.00.00.00.0−0.00.00.00.00.00.00.00.0−0.0◌◌◌◌◌
Net income $B0.00.0−0.0−0.1−0.1−0.1−0.1−0.1−0.10.1−0.4−0.2−0.2−0.2−0.2−0.2−0.2−0.3−0.3
Free cash flow $B0.00.0−0.0−0.1−0.1−0.0−0.1−0.0◌−0.1−0.1−0.0−0.1−0.1−0.1−0.2−0.2◌◌
EPS, diluted $0.020.10−0.04−0.34−0.32−0.26−0.27−0.60−1.131.36−4.54−2.57−0.64−0.94−1.32−1.50−2.07◌◌
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————————————————
ROE %—————————————————−134.4−80.5
Shares out B0.310.300.270.260.250.240.210.190.120.100.430.410.370.290.130.13◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 65 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Eight checks were skipped: cost of revenue is not tagged before 2015. Six checks were skipped: the balance sheet is not tagged before 2010. Five checks were skipped: the share count is not tagged before 2012.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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