NASDAQ : TARS

Tarsus Pharmaceuticals, Inc. — Financial statements

Healthcare · Biotechnology · United States

Last price 74.85 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.28B

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Financial statements

Tarsus Pharmaceuticals, Inc. (TARS) reported revenue of 606.33M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue606.33M451.36M182.95M17.45M25.82M57.03M
Cost of Revenue105.07M95.01M66.21M51.91M43.58M43.79M
Gross Profit501.26M356.35M116.74M-34.46M-17.76M13.24M
Selling, General & Admin526.44M427.32M237.31M108.70M44.95M25.40M
Research & Development23.36M
Operating Expenses549.80M427.32M237.31M108.70M44.95M25.40M
Operating Income-48.53M-70.97M-120.57M-143.16M-62.71M-12.16M
Interest Expense-8.77M-8.94M-7.85M-3.35M-2.20M
Interest & Investment Income15.48M15.75M15.01M10.34M3.50M36.00K
Other Non Operating Income (Expenses)-344.00K-202.00K385.00K15.00K86.00K-3.00K
EBT Excluding Unusual Items-42.16M-64.36M-113.02M-136.15M-61.33M-12.12M
Gain (Loss) on Sale of Investments2.81M-591.00K259.00K-769.00K-1.58M
Gain (Loss) on Sale of Assets-70.00K
Other Unusual Items-1.94M
Pretax Income-39.35M-64.36M-115.55M-135.89M-62.09M-13.77M
Income Tax Expense7.13M2.06M-4.00K55.00K
Net Income-46.48M-66.42M-115.55M-135.89M-62.09M-13.83M
Net Income to Common-46.48M-66.42M-115.55M-135.89M-62.09M-13.83M
Shares Outstanding (Basic)42.94M41.78M37.60M29.38M24.62M20.55M
Shares Outstanding (Diluted)42.94M41.78M37.60M29.38M24.62M20.55M
EPS (Basic)-1.08-1.59-3.07-4.62-2.52-0.67
EPS (Diluted)-1.08-1.59-3.07-4.62-2.52-0.67
Free Cash Flow56.00M-22.31M-84.59M-119.00M-49.54M3.16M
Free Cash Flow Per Share1.30-0.53-2.25-4.05-2.010.15
Gross Margin82.67%78.95%63.81%-197.50%-68.81%23.22%
Operating Margin-8.00%-15.72%-65.90%-820.53%-242.92%-21.32%
Profit Margin-7.66%-14.71%-63.16%-778.89%-240.51%-24.25%
Free Cash Flow Margin9.24%-4.94%-46.24%-682.04%-191.88%5.54%
EBITDA-46.20M-69.15M-119.34M-142.28M-62.39M-11.85M
EBITDA Margin-7.62%-15.32%-65.23%-241.66%-20.77%
D&A For EBITDA2.34M1.82M1.23M877.00K326.00K312.00K
EBIT-48.53M-70.97M-120.57M-143.16M-62.71M-12.16M
EBIT Margin-8.00%-15.72%-65.90%-242.92%-21.32%
Revenue as Reported606.33M451.36M182.95M17.45M25.82M57.03M

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents204.59M183.64M94.82M224.95M71.66M171.33M
Short-Term Investments245.09M233.63M196.56M2.50M145.37M483.00K
Cash & Short-Term Investments449.69M417.27M291.38M227.44M217.03M171.81M
Accounts Receivable96.03M85.06M46.76M16.62M
Other Receivables2.28M2.05M1.30M1.09M3.58M92.00K
Receivables98.31M87.11M48.06M17.71M3.58M92.00K
Inventory4.38M4.37M2.62M3.11M
Prepaid Expenses9.61M13.47M14.65M7.87M4.77M4.04M
Restricted Cash560.00K
Total Current Assets561.99M522.78M356.70M256.13M225.38M175.95M
Property, Plant & Equipment30.40M21.75M2.87M3.35M1.53M1.83M
Long-Term Investments6.68M3.87M3.00M856.00K479.00K663.00K
Other Intangible Assets6.88M7.37M8.33M3.87M
Other Long-Term Assets5.19M6.39M6.09M1.29M477.00K463.00K
Total Assets611.14M562.16M376.99M265.49M227.86M178.91M
Accounts Payable40.14M16.39M9.42M17.77M5.50M2.86M
Accrued Expenses46.55M26.88M19.14M13.90M9.21M7.26M
Current Portion of Leases154.00K608.00K398.00K721.00K609.00K
Current Income Taxes Payable2.10M1.81M55.00K
Current Unearned Revenue697.00K
Other Current Liabilities86.80M90.62M51.44M4.87M
Total Current Liabilities175.75M135.69M80.61M36.94M15.43M11.48M
Long-Term Debt72.76M72.44M71.84M29.82M19.43M
Long-Term Leases15.89M10.60M585.00K
Other Long-Term Liabilities1.75M100.00K114.00K
Total Liabilities264.41M218.73M152.46M68.50M34.96M12.18M
Common Stock6.00K6.00K6.00K5.00K5.00K4.00K
Additional Paid-In Capital799.43M769.67M584.56M441.64M301.73M213.40M
Retained Earnings-452.15M-426.63M-360.21M-244.66M-108.76M-46.67M
Comprehensive Income & Other-557.00K381.00K179.00K-2.00K-74.00K
Total Common Equity346.73M343.43M224.53M196.99M192.90M166.73M
Shareholders' Equity346.73M343.43M224.53M196.99M192.90M166.73M
Total Liabilities & Equity611.14M562.16M376.99M265.49M227.86M178.91M
Total Debt88.81M83.04M72.45M30.22M20.16M1.19M
Net Cash (Debt)360.88M334.23M218.92M197.22M196.87M170.62M
Net Cash Per Share8.408.005.826.718.008.30
Filing Date Shares Outstanding43.88M42.56M38.38M34.22M26.73M20.71M
Total Common Shares Outstanding43.27M42.55M38.35M34.21M26.73M20.70M
Working Capital386.24M387.09M276.09M219.19M209.95M164.47M
Book Value Per Share8.018.075.855.767.228.06
Tangible Book Value339.85M336.06M216.21M193.12M192.90M166.73M
Tangible Book Value Per Share7.857.905.645.647.228.06
Machinery6.52M3.84M3.50M2.08M1.08M847.00K
Leasehold Improvements15.82M9.93M794.00K680.00K425.00K129.00K

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-46.48M-66.42M-115.55M-135.89M-62.09M-13.83M
Depreciation & Amortization2.34M1.82M1.23M877.00K326.00K312.00K
Other Amortization633.00K593.00K482.00K385.00K309.00K
Loss (Gain) From Sale of Assets183.00K70.00K
Loss (Gain) From Sale of Investments-6.88M-5.48M-3.62M-3.42M-1.05M591.00K
Stock-Based Compensation51.81M41.72M27.82M19.83M13.46M8.46M
Other Operating Activities492.00K682.00K2.78M424.00K965.00K6.78M
Change in Accounts Receivable-37.70M-38.30M-30.14M-16.62M
Change in Inventory-497.00K-1.75M-2.05M-3.11M
Change in Accounts Payable30.05M6.91M2.54M4.54M821.00K3.88M
Change in Other Net Operating Assets80.20M47.78M33.48M15.50M-1.77M-2.51M
Operating Cash Flow74.16M-12.45M-83.03M-117.49M-49.03M3.75M
Capital Expenditures-18.16M-9.86M-1.57M-1.50M-506.00K-586.00K
Sale (Purchase) of Intangibles-5.00M-4.00M
Investment in Securities42.00M-32.26M-192.63M146.11M-144.12M
Investing Cash Flow23.85M-42.12M-199.19M140.60M-144.63M-586.00K
Long-Term Debt Issued75.00M10.00M20.00M
Net Debt Issued (Repaid)75.00M10.00M20.00M
Issuance of Common Stock9.38M143.39M105.69M120.18M74.94M324.00K
Other Financing Activities-26.04M-950.00K-303.00K
Financing Cash Flow9.38M143.39M154.66M130.18M93.99M21.00K
Net Cash Flow107.39M88.82M-127.57M153.29M-99.67M3.18M
Free Cash Flow56.00M-22.31M-84.59M-119.00M-49.54M3.16M
Free Cash Flow Margin9.24%-4.94%-46.24%-682.04%-191.88%5.54%
Free Cash Flow Per Share1.30-0.53-2.25-4.05-2.010.15
Levered Free Cash Flow67.47M-164.00K-50.48M-74.48M-27.35M4.74M
Unlevered Free Cash Flow72.31M4.83M-46.05M-72.78M-26.29M4.74M
Cash Interest Paid8.13M8.34M7.66M2.88M1.68M
Change in Working Capital72.06M14.64M3.84M306.00K-951.00K1.37M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization3.23B3.48B2.12B670.37M391.01M465.23M
Enterprise Value2.87B3.16B1.87B455.28M184.54M282.72M
Last Close Price74.8581.8855.3720.2514.6622.50
Forward PE97.48
PS Ratio5.427.7011.5738.4215.158.16
PB Ratio9.3410.129.433.402.032.79
P/TBV Ratio9.6710.349.793.472.032.79
P/FCF Ratio58.65147.13
P/OCF Ratio44.29124.13
EV/Sales Ratio4.826.9910.2426.097.154.96
EV/FCF Ratio52.2189.41
Debt / Equity Ratio0.260.240.320.150.100.01
Debt / FCF Ratio1.590.38
Net Debt / Equity Ratio-1.04-0.97-0.97-1.00-1.02-1.02
Net Debt / EBITDA Ratio7.814.831.831.393.1614.40
Net Debt / FCF Ratio-6.4414.982.591.663.97-53.96
Asset Turnover1.100.960.570.070.130.33
Inventory Turnover25.4727.1823.12
Quick Ratio3.123.724.216.6414.3014.98
Current Ratio3.203.854.426.9314.6115.33
Return on Equity (ROE)-13.68%-23.39%-54.83%-69.71%-34.53%-8.31%
Return on Assets (ROA)-5.49%-9.45%-23.46%-36.27%-19.27%-4.33%
Return on Capital Employed (ROCE)-11.10%-16.60%-40.70%-62.60%-29.50%-7.30%
Earnings Yield-1.47%-1.91%-5.46%-20.27%-15.88%-2.97%
FCF Yield1.70%-0.64%-4.00%-17.75%-12.67%0.68%
Buyback Yield / Dilution-7.95%-11.11%-27.98%-19.35%-19.78%-231.12%