TNGX (Tango Therapeutics, Inc.) Stock Financials & Earnings | Market Cap Arena

TNGX (Tango Therapeutics, Inc.) Stock Financials & Earnings | Market Cap Arena

TNGXTango Therapeutics, Inc.

Mkt Cap$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$62M

Net Income (TTM)-$102M

EPS (TTM)-$0.87

Free Cash Flow (TTM)-$140M

Gross Margin98.1%

Op. Margin-178.4%

Net Margin-162.9%

FCF Margin-224.3%

P/S Ratio (TTM)30.9x

P/E Ratio (TTM)—

YoY Rev Growth+48.3%

Employees—

Earnings Reports

Next: Q1 2026 · Mar 30

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$6M	$4M	-$30M
Q2 23	$15M	$13M	-$23M
Q3 23	$11M	$10M	-$26M
Q4 23	$5M	$5M	-$35M
Q1 24	$6M	$6M	-$42M
Q2 24	$20M	$20M	-$30M
Q3 24	$12M	$12M	-$33M
Q4 24	$4M	$4M	-$41M
Q1 25	$5M	$5M	-$43M
Q2 25	$3M	$3M	-$41M
Q3 25	$54M	$53M	$14M
Q4 25	$0	$0	-$42M

Valuation

Quarter	P/S	P/E
Q1 23	77.6x	—
Q2 23	57.3x	—
Q3 23	51.5x	—
Q4 23	52.8x	—
Q1 24	51.8x	—
Q2 24	45.4x	—
Q3 24	44.5x	—
Q4 24	45.9x	—
Q1 25	47.1x	—
Q2 25	79.4x	—
Q3 25	29.0x	—
Q4 25	30.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$35M	-$36M
Q2 23	-$24M	-$25M
Q3 23	-$31M	-$31M
Q4 23	-$27M	-$28M
Q1 24	-$38M	-$38M
Q2 24	-$24M	-$24M
Q3 24	-$33M	-$34M
Q4 24	-$37M	-$37M
Q1 25	-$42M	-$42M
Q2 25	-$37M	-$37M
Q3 25	-$31M	-$31M
Q4 25	-$30M	-$30M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$620K
Q2 23	$664K
Q3 23	$16K
Q4 23	$226K
Q1 24	$195K
Q2 24	$320K
Q3 24	$115K
Q4 24	$124K
Q1 25	$51K
Q2 25	$624K
Q3 25	$151K
Q4 25	$222K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+0.1%	+15.8%
Q2 23	+153.0%	+22.2%
Q3 23	+55.1%	-1.3%
Q4 23	-15.3%	+9.4%
Q1 24	+12.2%	+35.2%
Q2 24	+36.1%	+30.6%
Q3 24	+8.2%	+22.4%
Q4 24	-24.2%	+11.3%
Q1 25	-16.7%	-1.7%
Q2 25	-84.0%	-10.7%
Q3 25	+363.6%	-10.7%
Q4 25	-100.0%	-7.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	73.2%
Q2 23	$5M	35.1%
Q3 23	$5M	45.3%
Q4 23	$5M	89.8%
Q1 24	$7M	103.8%
Q2 24	$8M	37.9%
Q3 24	$7M	61.8%
Q4 24	$7M	181.2%
Q1 25	$7M	134.6%
Q2 25	$7M	206.5%
Q3 25	$7M	12.3%
Q4 25	$6M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$28M	—	$7M
Q2 23	$29M	—	$8M
Q3 23	$27M	—	$9M
Q4 23	$31M	$9M	—
Q1 24	$38M	$11M	—
Q2 24	$39M	$11M	—
Q3 24	$33M	$11M	—
Q4 24	$34M	$11M	—
Q1 25	$36M	$11M	—
Q2 25	$32M	$11M	—
Q3 25	$30M	—	$9M
Q4 25	$33M	$10M	—

Revenue Segments

Quarter	Collaboration Revenue	License Revenue
Q2 23	$10M	$5M
Q2 24	$8M	$12M
Q1 25	$5M	—
Q2 25	$3M	—
Q3 25	$54M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$57M	$276M	$334M
Q2 23	$66M	$245M	$311M
Q3 23	$59M	$301M	$360M
Q4 23	$66M	$271M	$337M
Q1 24	$61M	$282M	$344M
Q2 24	$52M	$271M	$322M
Q3 24	$53M	$240M	$293M
Q4 24	$70M	$188M	$258M
Q1 25	$58M	$158M	$217M
Q2 25	$39M	$142M	$181M
Q3 25	$58M	$94M	$153M
Q4 25	$112M	$231M	$343M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	88M	+0.3%
Q2 23	88M	+0.2%
Q3 23	97M	+9.8%
Q4 23	96M	-1.3%
Q1 24	108M	+12.9%
Q2 24	108M	+0.1%
Q3 24	109M	+0.2%
Q4 24	109M	+0.2%
Q1 25	110M	+1.5%
Q2 25	111M	+0.2%
Q3 25	111M	+0.4%
Q4 25	116M	+4.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 19	—	—
FY 20	$2M	4
FY 21	$407K	91
FY 22	$226K	110
FY 23	$261K	140
FY 24	$271K	155
FY 25	$312	200K