HQL

MKT CAP:$527M

Tekla Life Sciences Investors

Market Cap

$527M

Financial Services·Asset Management·🇺🇸 United States·NYSE

Financials·Asset Management·🇺🇸·NYSE

Stock Price

$17.76+$0.99 (+5.89%)

Apr 22, 2026

Company Details

Tekla Life Sciences Investors is a closed-ended equity mutual fund launched and managed by Tekla Capital Management LLC. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating in the ...

CEO

Daniel R. Omstead

IPO Date

May 1, 1992

Website

www.teklacap.com/hql.html

Key Metrics TTM

Revenue

$34M

+1651.0% YoY

Net Income

$171M

EPS (Diluted)

$6.02

Free Cash Flow

-$2M

Revenue / Share

$1.17

Gross Margin

38.9%

Operating Margin

247.5%

Net Margin

505.4%

FCF Margin

-7.0%

P/S

15.6x

P/E

3.1x

Earnings Reports

FY 2025

Sep 30, 2025

$86M-0.3%EPS $2.96

Q4 2025

Sep 30, 2025

$12M+507.6%EPS $4.60

Q2 2025

Mar 30, 2025

$18M+781.2%EPS -$1.64

FY 2024

Sep 30, 2024

$87M+120.1%EPS $3.04

Q4 2024

Sep 30, 2024

$2MEPS $1.22

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 10	$910.0K	-$585.0K	-$980.0K
Q2 11	$285.0K	-$1M	-$2M
Q4 11	$285.0K	-$1M	-$2M
Q2 12	$686.6K	-$2M	-$890.6K
Q4 12	$1M	$1M	-$392.8K
Q2 13	$119	$119	-$764
Q4 13	$277	$277	-$1.6K
Q2 14	$465	$465	-$1.8K
Q4 14	$411	$411	-$2.0K
Q2 15	$487	$487	-$2.4K
Q4 15	$834	$834	-$2.3K
Q2 23	$2M	$2M	-$940.7K
Q2 24	$2M	$2M	-$653.3K
Q4 24	$2M	$2M	-$1M
Q2 25	$18M	$0	-$47M
Q4 25	$12M	$9M	$133M

Valuation

Quarter	P/S	P/E
Q4 10	0.1x	—
Q2 11	0.1x	0.0x
Q4 11	0.1x	0.0x
Q2 12	0.1x	0.0x
Q4 12	0.1x	0.0x
Q2 13	0.1x	0.0x
Q4 13	0.1x	0.0x
Q2 14	0.2x	0.0x
Q4 14	331.1x	2.6x
Q2 15	328.3x	2.3x
Q4 15	192.6x	3.3x
Q2 23	194.5x	11.1x
Q2 24	97.1x	4.6x
Q4 24	73.4x	3.6x
Q2 25	15.2x	5.1x
Q4 25	13.0x	2.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 09	$7M	$7M
Q2 10	$950.0K	$950.0K
Q4 10	$950.0K	$950.0K
Q2 11	$59M	$59M
Q4 11	$59M	$59M
Q2 12	$17M	$17M
Q4 12	$4M	$4M
Q2 13	$2.2K	$2.2K
Q4 13	$5.1K	$5.1K
Q2 14	$6.0K	$6.0K
Q4 14	-$58.6K	-$58.6K
Q2 15	$45.8K	$45.8K
Q4 15	-$45.8K	-$45.8K
Q2 23	$0	$0
Q2 25	-$1M	-$1M
Q4 25	-$1M	-$1M

Capital Expenditures

Quarter	CapEx
Q4 09	$0
Q2 10	$0
Q4 10	$0
Q2 11	$0
Q4 11	$0
Q2 12	$0
Q4 12	$0
Q2 13	$0
Q4 13	$0
Q2 14	$0
Q4 14	$0
Q2 15	$0
Q4 15	$0
Q2 23	$0
Q2 25	$3
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 10	+9.0%	-17.6%
Q2 11	+23.9%	+21.1%
Q4 11	+23.9%	+21.1%
Q2 12	-24.6%	-16.6%
Q4 12	+60.2%	-2.1%
Q2 13	-100.0%	-100.0%
Q4 13	-99.9%	-99.9%
Q2 14	-99.9%	-99.9%
Q4 14	-100.0%	-99.9%
Q2 15	+309.2%	+225.0%
Q4 15	+201.1%	+65.4%
Q2 23	+414797.0%	+128025.8%
Q2 24	+502397.3%	+113127.8%
Q4 24	+393066.3%	+110761.8%
Q2 25	+2181999.9%	+2062080.2%
Q4 25	+503.0%	-4322.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 09	$0	0.0%
Q2 10	$0	0.0%
Q4 10	$0	0.0%
Q2 11	$0	0.0%
Q4 11	$0	0.0%
Q2 12	$0	0.0%
Q4 12	$0	0.0%
Q2 13	$0	0.0%
Q4 13	$0	0.0%
Q2 14	$0	0.0%
Q4 14	$0	0.0%
Q2 15	$0	0.0%
Q4 15	$0	0.0%
Q2 23	$0	0.0%
Q2 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q4 10	$315.0K	—
Q2 11	$575.0K	—
Q4 11	$575.0K	—
Q2 12	$2M	—
Q4 12	$2M	—
Q2 13	$883	—
Q4 13	$1.9K	—
Q2 14	$2.2K	—
Q4 14	$2.4K	—
Q2 15	$2.9K	—
Q4 15	$3.2K	—
Q2 23	$3M	—
Q2 24	$3M	$8.1K
Q4 24	$3M	$16.5K
Q4 25	$743.2K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 18	$0	$0	$0
Q4 18	$0	$0	$0
Q2 19	$0	$0	$0
Q4 19	$1M	$0	$1M
Q2 20	$803	$0	$803
Q4 20	$0	$5M	$5M
Q2 21	$159	$0	$159
Q4 21	$990	$0	$990
Q2 22	$292.4K	$0	$292.4K
Q4 22	$445	$0	$445
Q2 23	$822	$0	$822
Q4 23	$477	$15M	$15M
Q2 24	$0	$0	$0
Q4 24	$0	$0	$0
Q2 25	$0	$12M	$12M
Q4 25	$75.5K	$0	$75.5K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 10	22K	0.0%	+3.6%
Q2 11	15K	-33.2%	-33.6%
Q4 11	15K	0.0%	-33.6%
Q2 12	14K	-1.0%	-33.9%
Q4 12	14K	0.0%	-33.9%
Q2 13	15K	+2.0%	+0.9%
Q4 13	15K	+1.9%	+2.8%
Q2 14	15K	+2.0%	+6.0%
Q4 14	19K	+24.3%	+31.7%
Q2 15	19K	+1.7%	+31.3%
Q4 15	20K	+1.9%	+31.3%
Q2 23	26M	+133050.7%	+171366.3%
Q2 24	27M	+4.3%	+143812.2%
Q4 24	29M	+5.2%	+148817.1%
Q2 25	29M	+0.3%	+146564.7%
Q4 25	29M	0.0%	+10.1%

Shares Outstanding