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TARS (Tarsus Pharmaceuticals, Inc.) Stock Financials & Earnings | Market Cap Arena
TARS
Tarsus Pharmaceuticals, Inc.
Mkt Cap
$3B
Healthcare
·
Biotechnology
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$451M
Net Income (TTM)
-$66M
EPS (TTM)
-$1.62
Free Cash Flow (TTM)
-$22M
Gross Margin
89.6%
Op. Margin
-15.7%
Net Margin
-14.7%
FCF Margin
-4.9%
P/S Ratio (TTM)
6.9x
P/E Ratio (TTM)
—
YoY Rev Growth
+146.7%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$3M
$2M
-$25M
Q2 23
$0
-$316K
-$33M
Q3 23
$2M
$1M
-$41M
Q4 23
$13M
$12M
-$44M
Q1 24
$28M
$26M
-$38M
Q2 24
$41M
$38M
-$33M
Q3 24
$48M
$45M
-$25M
Q4 24
$66M
$61M
-$24M
Q1 25
$78M
$73M
-$26M
Q2 25
$103M
$96M
-$22M
Q3 25
$119M
$94M
-$15M
Q4 25
$152M
$141M
-$8M
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Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
111.6x
—
Q2 23
248.0x
—
Q3 23
215.7x
—
Q4 23
177.7x
—
Q1 24
72.8x
—
Q2 24
37.2x
—
Q3 24
23.9x
—
Q4 24
16.9x
—
Q1 25
13.3x
—
Q2 25
10.5x
—
Q3 25
8.5x
—
Q4 25
6.9x
—
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Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
-$22M
-$22M
Q2 23
-$24M
-$25M
Q3 23
-$32M
-$37M
Q4 23
-$39M
-$39M
Q1 24
-$38M
-$38M
Q2 24
-$14M
-$15M
Q3 24
-$9M
-$9M
Q4 24
-$22M
-$27M
Q1 25
-$21M
-$21M
Q2 25
-$29M
-$30M
Q3 25
$18M
$16M
Q4 25
$19M
$13M
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Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$340K
Q2 23
$787K
Q3 23
$4M
Q4 23
$0
Q1 24
$174K
Q2 24
$1M
Q3 24
$282K
Q4 24
$5M
Q1 25
$590K
Q2 25
$1M
Q3 25
$2M
Q4 25
$6M
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OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+363.8%
+36.8%
Q2 23
-100.0%
+60.1%
Q3 23
—
+86.9%
Q4 23
+30.8%
+129.5%
Q1 24
+1004.6%
+137.9%
Q2 24
—
+125.8%
Q3 24
+2471.8%
+71.2%
Q4 24
+407.9%
+57.9%
Q1 25
+183.7%
+60.2%
Q2 25
+151.5%
+68.4%
Q3 25
+146.7%
+81.8%
Q4 25
+128.4%
+75.8%
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Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$4M
156.2%
Q2 23
$5M
—
Q3 23
$5M
280.6%
Q4 23
$5M
41.9%
Q1 24
$6M
20.0%
Q2 24
$7M
18.3%
Q3 24
$7M
15.4%
Q4 24
$7M
11.1%
Q1 25
$7M
8.8%
Q2 25
$8M
8.0%
Q3 25
$12M
10.3%
Q4 25
$14M
9.4%
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OpEx Breakdown
R&D
G&A
SG&A
Quarter
R&D
G&A
SG&A
Q1 23
$12M
—
$15M
Q2 23
$13M
—
$20M
Q3 23
$12M
$30M
—
Q4 23
$13M
—
$43M
Q1 24
$12M
—
$52M
Q2 24
$12M
—
$59M
Q3 24
$12M
—
$58M
Q4 24
$17M
—
$69M
Q1 25
$14M
—
$85M
Q2 25
$16M
—
$103M
Q3 25
$16M
—
$109M
Q4 25
$18M
—
$131M
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Revenue Segments
License And Collaboration
Product
Quarter
License And Collaboration
Product
Q1 23
$3M
—
Q3 23
$218K
$2M
Q4 23
—
$13M
Q1 24
$3M
$25M
Q2 24
—
$41M
Q3 24
—
$48M
Q1 25
—
$78M
Q2 25
—
$103M
Q3 25
—
$119M
Q4 25
—
$152M
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War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$66M
$135M
$201M
Q2 23
$107M
$71M
$178M
Q3 23
$227M
$20M
$247M
Q4 23
$225M
$2M
$227M
Q1 24
$194M
$105M
$299M
Q2 24
$181M
$142M
$324M
Q3 24
$176M
$141M
$317M
Q4 24
$95M
$197M
$291M
Q1 25
$176M
$232M
$408M
Q2 25
$97M
$284M
$381M
Q3 25
$113M
$289M
$402M
Q4 25
$184M
$234M
$417M
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Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
27M
+4.1%
Q2 23
27M
+0.3%
Q3 23
31M
+14.2%
Q4 23
32M
+4.3%
Q1 24
35M
+10.5%
Q2 24
38M
+7.1%
Q3 24
38M
+1.5%
Q4 24
39M
+0.5%
Q1 25
39M
+2.0%
Q2 25
42M
+7.7%
Q3 25
43M
+0.6%
Q4 25
43M
+0.4%
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Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 18
—
—
FY 19
—
—
FY 20
$0
20
FY 21
$1M
46
FY 22
$297K
87
FY 23
$72K
244
FY 24
$566K
323
FY 25
$1M
370
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