NASDAQ : TECX
Tectonic Therapeutic, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 19.56 USD (Oct 30, 2026, 1:42 PM EDT) · Market cap 382.39M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 22.74M | 20.55M | 16.65M | 7.68M | 7.18M | 4.63M |
| Research & Development | 72.19M | 63.49M | 41.36M | 36.97M | 25.65M | 10.98M |
| Operating Expenses | 94.92M | 84.04M | 58.02M | 44.65M | 32.83M | 15.61M |
| Operating Income | -94.92M | -84.04M | -58.02M | -44.65M | -32.83M | -15.61M |
| Interest Expense | -40.00K | -63.00K | -107.00K | -152.00K | -144.00K | -445.00K |
| Interest & Investment Income | 9.67M | 11.30M | 4.26M | 581.00K | 149.00K | |
| Other Non Operating Income (Expenses) | -57.00K | -119.00K | -4.12M | 1.40M | 645.00K | 8.10M |
| EBT Excluding Unusual Items | -85.36M | -72.92M | -57.98M | -42.82M | -32.18M | -7.96M |
| Other Unusual Items | -969.00K | |||||
| Pretax Income | -85.46M | -72.92M | -57.98M | -42.82M | -32.18M | -8.93M |
| Income Tax Expense | 331.00K | 1.23M | ||||
| Earnings From Continuing Operations | -74.15M | -57.98M | -42.82M | -32.18M | -8.93M | |
| Net Income | -85.79M | -74.15M | -57.98M | -42.82M | -32.18M | -8.93M |
| Net Income to Common | -85.79M | -74.15M | -57.98M | -42.82M | -32.18M | -8.93M |
| Shares Outstanding (Basic) | 18.79M | 18.32M | 8.49M | 1.27M | 2.53M | |
| Shares Outstanding (Diluted) | 18.79M | 18.32M | 8.49M | 1.27M | 2.53M | |
| EPS (Basic) | -4.56 | -4.05 | -6.83 | -33.76 | -12.74 | |
| EPS (Diluted) | -4.56 | -4.05 | -6.83 | -33.76 | -12.74 | |
| Free Cash Flow | -72.42M | -60.29M | -59.24M | -40.96M | -29.73M | -14.58M |
| Free Cash Flow Per Share | -3.85 | -3.29 | -6.98 | -32.29 | -11.77 | |
| EBITDA | -93.66M | -82.66M | -56.37M | -43.17M | -31.82M | -15.25M |
| D&A For EBITDA | 1.26M | 1.38M | 1.65M | 1.48M | 1.01M | 364.00K |
| EBIT | -94.92M | -84.04M | -58.02M | -44.65M | -32.83M | -15.61M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 227.07M | 253.80M | 141.24M | 28.77M | 35.97M | 28.06M |
| Cash & Short-Term Investments | 227.07M | 253.80M | 141.24M | 28.77M | 35.97M | 28.06M |
| Prepaid Expenses | 4.03M | 2.97M | 5.62M | 2.12M | 1.08M | 557.00K |
| Restricted Cash | 587.00K | |||||
| Total Current Assets | 231.10M | 257.36M | 146.86M | 30.88M | 37.04M | 28.62M |
| Property, Plant & Equipment | 4.83M | 2.55M | 5.30M | 7.23M | 9.55M | 3.66M |
| Long-Term Deferred Charges | 669.00K | |||||
| Other Long-Term Assets | 1.11M | 1.12M | 743.00K | 618.00K | 613.00K | 599.00K |
| Total Assets | 237.03M | 261.04M | 152.91M | 39.40M | 47.21M | 32.88M |
| Accounts Payable | 1.68M | 1.09M | 976.00K | 409.00K | 574.00K | 1.81M |
| Accrued Expenses | 7.11M | 7.34M | 7.85M | 8.14M | 5.32M | 1.30M |
| Current Portion of Leases | 1.58M | 1.23M | 2.78M | 1.82M | 1.45M | 355.00K |
| Current Unearned Revenue | 6.00K | |||||
| Other Current Liabilities | 30.52M | 499.00K | 643.00K | |||
| Total Current Liabilities | 10.37M | 9.67M | 11.61M | 40.89M | 7.84M | 4.12M |
| Long-Term Leases | 2.82M | 43.00K | 519.00K | 2.52M | 4.34M | 700.00K |
| Long-Term Unearned Revenue | 410.00K | |||||
| Other Long-Term Liabilities | 56.00K | |||||
| Total Liabilities | 13.19M | 9.71M | 12.13M | 43.41M | 12.24M | 5.23M |
| Common Stock | 2.00K | 2.00K | 2.00K | |||
| Additional Paid-In Capital | 494.11M | 474.16M | 289.35M | 5.98M | 2.13M | 641.00K |
| Retained Earnings | -270.26M | -222.74M | -148.59M | -90.60M | -47.78M | -15.60M |
| Comprehensive Income & Other | -96.00K | 9.00K | -11.00K | |||
| Total Common Equity | 223.85M | 251.33M | 140.78M | -84.64M | -45.65M | -14.96M |
| Shareholders' Equity | 223.85M | 251.33M | 140.78M | -4.01M | 34.97M | 27.65M |
| Total Liabilities & Equity | 237.03M | 261.04M | 152.91M | 39.40M | 47.21M | 32.88M |
| Total Debt | 4.40M | 1.28M | 3.30M | 4.34M | 5.79M | 1.05M |
| Net Cash (Debt) | 222.67M | 252.52M | 137.94M | 24.43M | 30.17M | 27.01M |
| Net Cash Per Share | 11.85 | 13.78 | 16.25 | 19.26 | 11.95 | |
| Filing Date Shares Outstanding | 19.55M | 18.78M | 18.66M | 2.63M | 2.53M | |
| Total Common Shares Outstanding | 19.24M | 18.74M | 14.86M | 2.63M | 2.53M | |
| Working Capital | 220.73M | 247.69M | 135.25M | -10.00M | 29.20M | 24.50M |
| Book Value Per Share | 11.64 | 13.41 | 9.48 | -32.13 | -18.08 | |
| Tangible Book Value | 223.85M | 251.33M | 140.78M | -84.64M | -45.65M | -14.96M |
| Tangible Book Value Per Share | 11.64 | 13.41 | 9.48 | -32.13 | -18.08 | |
| Machinery | 4.57M | 4.87M | 4.92M | 4.41M | 3.69M | |
| Construction In Progress | 38.00K | 49.00K | 340.00K | |||
| Leasehold Improvements | 25.00K | 25.00K | 25.00K | 25.00K | 42.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -85.79M | -74.15M | -57.98M | -42.82M | -32.18M | -8.93M |
| Depreciation & Amortization | 1.26M | 1.38M | 1.65M | 1.48M | 1.01M | 364.00K |
| Other Amortization | 252.00K | |||||
| Loss (Gain) From Sale of Assets | 116.00K | 153.00K | 9.00K | |||
| Stock-Based Compensation | 13.02M | 10.50M | 3.49M | 1.12M | 1.12M | 639.00K |
| Other Operating Activities | 2.01M | 2.12M | 4.04M | 118.00K | 582.00K | -6.70M |
| Change in Accounts Payable | -1.02M | 116.00K | -1.42M | -165.00K | -1.23M | 1.45M |
| Change in Other Net Operating Assets | -1.74M | -186.00K | -8.86M | -419.00K | 3.07M | 464.00K |
| Operating Cash Flow | -72.14M | -60.08M | -59.08M | -40.68M | -27.64M | -12.45M |
| Capital Expenditures | -279.00K | -208.00K | -156.00K | -279.00K | -2.09M | -2.12M |
| Sale of Property, Plant & Equipment | 35.00K | 70.00K | ||||
| Investing Cash Flow | -244.00K | -138.00K | -156.00K | -279.00K | -2.09M | -2.12M |
| Long-Term Debt Issued | 4.00M | |||||
| Long-Term Debt Repaid | -489.00K | -475.00K | -499.00K | -393.00K | -389.00K | |
| Net Debt Issued (Repaid) | -451.00K | -489.00K | -475.00K | -499.00K | -393.00K | 3.61M |
| Issuance of Common Stock | 13.28M | 186.26M | 98.22M | 34.25M | 4.00K | 2.00K |
| Repurchase of Common Stock | -489.00K | -17.00K | ||||
| Other Financing Activities | -413.00K | -12.40M | 73.97M | |||
| Financing Cash Flow | 11.93M | 173.35M | 171.71M | 33.75M | 37.63M | 41.42M |
| Foreign Exchange Rate Adjustments | 38.00K | -95.00K | -8.00K | 16.00K | ||
| Net Cash Flow | -60.41M | 113.04M | 112.47M | -7.20M | 7.90M | 26.84M |
| Free Cash Flow | -72.42M | -60.29M | -59.24M | -40.96M | -29.73M | -14.58M |
| Free Cash Flow Per Share | -3.85 | -3.29 | -6.98 | -32.29 | -11.77 | |
| Levered Free Cash Flow | -46.72M | -39.23M | -65.09M | 5.96M | -18.46M | |
| Unlevered Free Cash Flow | -46.70M | -39.19M | -65.02M | 6.05M | -18.37M | |
| Change in Working Capital | -2.76M | -70.00K | -10.28M | -584.00K | 1.84M | 1.92M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 374.47M | 390.42M | 681.13M | |||
| Enterprise Value | 151.80M | 123.22M | 525.02M | |||
| Last Close Price | 19.78 | 20.86 | 46.17 | |||
| PB Ratio | 1.70 | 1.55 | 4.84 | |||
| P/TBV Ratio | 1.69 | 1.55 | 4.84 | |||
| Debt / Equity Ratio | 0.02 | 0.01 | 0.02 | -1.08 | 0.17 | 0.04 |
| Net Debt / Equity Ratio | -0.99 | -1.00 | -0.98 | 6.09 | -0.86 | -0.98 |
| Net Debt / EBITDA Ratio | 2.38 | 3.06 | 2.45 | 0.57 | 0.95 | 1.77 |
| Net Debt / FCF Ratio | 3.08 | 4.19 | 2.33 | 0.60 | 1.01 | 1.85 |
| Quick Ratio | 21.90 | 26.26 | 12.16 | 0.70 | 4.59 | 6.82 |
| Current Ratio | 22.29 | 26.62 | 12.65 | 0.76 | 4.73 | 6.95 |
| Return on Equity (ROE) | -33.80% | -37.82% | -84.79% | -276.60% | -102.77% | |
| Return on Assets (ROA) | -22.29% | -25.38% | -37.71% | -64.44% | -51.24% | |
| Return on Capital Employed (ROCE) | -41.90% | -33.40% | -41.10% | 2,998.50% | -83.40% | -54.30% |
| Earnings Yield | -23.83% | -18.99% | -8.51% | |||
| FCF Yield | -19.13% | -15.44% | -8.70% | |||
| Buyback Yield / Dilution | -14.76% | -115.81% | -569.30% | 49.78% |