Tarsus Pharmaceuticals, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $451.4M | $183.0M | $17.4M | $25.8M | $57.0M |
| Selling, general & administrative | $427.3M | $237.3M | $108.7M | $44.9M | — |
| Research and development | $64.3M | $53.4M | $50.3M | $42.6M | $41.7M |
| Operating expenses | — | — | $160.6M | $88.5M | $69.2M |
| Operating income | -$71.0M | -$120.6M | -$143.2M | -$62.7M | -$12.2M |
| Interest expense | $8.9M | $7.8M | $3.3M | $2.2M | $0 |
| Pretax income | -$64.4M | -$115.6M | -$135.9M | -$62.1M | -$13.8M |
| Income tax expense | $2.1M | $0 | $0 | -$4,000 | $55,000 |
| Net income | -$66.4M | -$115.6M | -$135.9M | -$62.1M | -$13.8M |
| Balance Sheet | |||||
| Cash and equivalents | $183.6M | $94.8M | $224.9M | $71.7M | $171.3M |
| Current assets | $522.8M | $356.7M | $256.1M | $225.4M | $176.0M |
| Total assets | $562.2M | $377.0M | $265.5M | $227.9M | $178.9M |
| Current liabilities | $135.7M | $80.6M | $36.9M | $15.4M | $11.5M |
| Total liabilities | $218.7M | $152.5M | $68.5M | $35.0M | $12.2M |
| Total debt | $75.0M | $75.0M | $30.0M | $20.0M | — |
| Stockholders' equity | $343.4M | $224.5M | $197.0M | $192.9M | $166.7M |
| Cash Flow Statement | |||||
| Cash from operations | -$12.5M | -$83.0M | -$117.5M | -$49.0M | $3.7M |
| Depreciation and amortization | $855,000 | $685,000 | $744,000 | $326,000 | $300,000 |
| Stock-based compensation | $41.7M | $27.8M | $19.8M | $13.5M | $8.5M |
| Capital expenditure | $9.9M | $1.6M | $1.5M | $506,000 | $586,000 |
| Free cash flow | -$22.3M | -$84.6M | -$119.0M | -$49.5M | $3.2M |
Shares outstanding 43.0M · Free float 78.9%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.