FY2025 · ended Dec 31, 2025 · Revenue $451.36M, +146.7% YoY · Filed Feb 23, 2026
Tarsus Pharmaceuticals, Inc. (TARS) files with the SEC under industry code 2836, Biological Products, (No Diagnostic Substances). In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $451.4 million and a net loss of $66.4 million. Free cash flow was -$22.3 million. As of Sep 30, 2026 it held $316.3 million in cash and investments and $89.4 million in total debt.
Revenue (TTM)
$682.20M
+86.3% vs year-ago TTM
Net income (TTM)
$-702.23M
-765.3% vs year-ago TTM
Operating cash flow (TTM)
$49.90M
+192.5% vs year-ago TTM
Free cash flow (TTM)
$32.44M
+156.4% vs year-ago TTM
EPS (TTM)
$-16.00
-702.9% vs year-ago TTM
Dividend per share
$0.00
Shares outstanding
42.56M
+10.9% vs prior year
Net cash
$226.86M
as of Sep 30, 2026
Operating margin
-102.0%
FY 2026
Company profile
- Industry
- Biological Products, (No Diagnostic Substances) (SIC 2836)
- Listed as
- TARS (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Irvine, CA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1819790
Other Biological Products, (No Diagnostic Substances) companies
- Amgen Inc AMGN
- Gilead Sciences, Inc. GILD
- Moderna, Inc. MRNA
- Argenx SE ARGX
- Revolution Medicines, Inc. RVMD
- Biogen Inc. BIIB
- BioNTech SE BNTX
- Exelixis, Inc. EXEL
All 182 Biological Products, (No Diagnostic Substances) companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $451.4M | $183.0M | $17.4M | $25.8M | $57.0M |
| Operating income | -$71.0M | -$120.6M | -$143.2M | -$62.7M | -$12.2M |
| Net income | -$66.4M | -$115.6M | -$135.9M | -$62.1M | -$13.8M |
| Diluted EPS | -$1.59 | -$3.07 | -$4.62 | -$2.52 | -$0.67 |
| Operating cash flow | -$12.5M | -$83.0M | -$117.5M | -$49.0M | $3.7M |
| Free cash flow | -$22.3M | -$84.6M | -$119.0M | -$49.5M | $3.2M |
| Total assets | $562.2M | $377.0M | $265.5M | $227.9M | $178.9M |
| Total liabilities | $218.7M | $152.5M | $68.5M | $35.0M | $12.2M |
| Stockholders' equity | $343.4M | $224.5M | $197.0M | $192.9M | $166.7M |
| Cash and investments | $421.1M | $294.4M | $228.1M | $217.4M | $171.8M |
| Total debt | $83.0M | $72.5M | $31.7M | $20.3M | $1.2M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 3, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Nov 3, 2026 | Nov 3, 2026 |
| 8-K/A | Amended current report | Oct 13, 2026 | Sep 4, 2026 |
| 8-K |
Current report
Acquisition or sale of assets, Other events
|
Sep 10, 2026 | Sep 4, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 6, 2026 | Aug 6, 2026 |
All 676 Tarsus Pharmaceuticals, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.