TRVI

MKT CAP:$2B

Trevi Therapeutics, Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$14.41+$2.52 (+21.19%)

Apr 24, 2026

Company Details

Trevi Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of Haduvio to treat serious neurologically mediated conditions. The company is developing Haduvio, an oral extended-relea...

CEO

Jennifer L. Good

IPO Date

May 7, 2019

Website

www.trevitherapeutics.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$43M

EPS (Diluted)

-$0.32

Free Cash Flow

-$29M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 17, 2026

$0EPS -$0.29

Q4 2025

Mar 17, 2026

$0EPS -$0.06

Q3 2025

Nov 13, 2025

$0EPS -$0.08

Q2 2025

Aug 7, 2025

$0EPS -$0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$7M
Q2 22	$0	$0	-$8M
Q3 22	$0	$0	-$8M
Q4 22	$0	$0	-$7M
Q1 23	$0	$0	-$8M
Q2 23	$0	$0	-$8M
Q3 23	$0	$0	-$9M
Q4 23	$0	-$35.0K	-$9M
Q1 24	$0	-$35.0K	-$12M
Q2 24	$0	-$38.0K	-$13M
Q3 24	$0	$0	-$14M
Q4 24	$0	-$38.0K	-$12M
Q1 25	$0	$0	-$11M
Q2 25	$0	$0	-$14M
Q3 25	$0	$0	-$14M
Q4 25	$0	-$31.0K	-$10M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$7M	-$7M
Q2 22	-$6M	-$6M
Q3 22	-$9M	-$9M
Q4 22	-$6M	-$6M
Q1 23	-$8M	-$8M
Q2 23	-$10M	-$10M
Q3 23	-$7M	-$7M
Q4 23	-$6M	-$6M
Q1 24	-$10M	-$10M
Q2 24	-$9M	-$9M
Q3 24	-$10M	-$10M
Q4 24	-$10M	-$10M
Q1 25	-$13M	-$13M
Q2 25	-$10M	-$10M
Q3 25	-$11M	-$11M
Q4 25	-$8M	$6M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$43.0K
Q4 22	$116.0K
Q1 23	$57.0K
Q2 23	$40.0K
Q3 23	$18.0K
Q4 23	$22.0K
Q1 24	$0
Q2 24	$28.0K
Q3 24	$0
Q4 24	$7.0K
Q1 25	$0
Q2 25	$0
Q3 25	$12.0K
Q4 25	$13M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	-13.2%
Q2 22	—	-14.7%
Q3 22	—	+21.0%
Q4 22	—	-19.5%
Q1 23	—	+7.7%
Q2 23	—	+7.2%
Q3 23	—	+7.6%
Q4 23	—	+34.2%
Q1 24	—	+57.4%
Q2 24	—	+58.5%
Q3 24	—	+55.7%
Q4 24	—	+37.1%
Q1 25	—	-3.7%
Q2 25	—	+3.3%
Q3 25	—	-1.2%
Q4 25	—	-16.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$737.0K	—
Q2 22	$520.0K	—
Q3 22	$569.0K	—
Q4 22	$501.0K	—
Q1 23	$578.0K	—
Q2 23	$0	—
Q3 23	$530.0K	—
Q4 23	$534.0K	—
Q1 24	$723.0K	—
Q2 24	$1M	—
Q3 24	$821.0K	—
Q4 24	$917.0K	—
Q1 25	$1M	—
Q2 25	$1M	—
Q3 25	$1M	—
Q4 25	$1M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$5M	$2M	—
Q2 22	$5M	$3M	—
Q3 22	$6M	$3M	—
Q4 22	$4M	$2M	—
Q1 23	$5M	$3M	—
Q2 23	$6M	$3M	—
Q3 23	$6M	$3M	—
Q4 23	$7M	—	$2M
Q1 24	$9M	$3M	—
Q2 24	$10M	$3M	—
Q3 24	$11M	$3M	—
Q4 24	$9M	—	$3M
Q1 25	$8M	$4M	—
Q2 25	$9M	$4M	—
Q3 25	$10M	$4M	—
Q4 25	$6M	—	$4M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$29M	$0	$29M
Q2 22	$25M	$53M	$78M
Q3 22	$67M	$59M	$126M
Q4 22	$13M	$108M	$121M
Q1 23	$12M	$100M	$111M
Q2 23	$14M	$80M	$94M
Q3 23	$26M	$63M	$89M
Q4 23	$32M	$51M	$83M
Q1 24	$14M	$59M	$73M
Q2 24	$13M	$57M	$69M
Q3 24	$16M	$49M	$65M
Q4 24	$34M	$74M	$108M
Q1 25	$19M	$84M	$103M
Q2 25	$117M	$87M	$204M
Q3 25	$57M	$138M	$195M
Q4 25	$19M	$169M	$188M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	31M	+42.6%	+58.7%
Q2 22	60M	+93.3%	+195.9%
Q3 22	69M	+15.7%	+218.9%
Q4 22	98M	+42.4%	+354.2%
Q1 23	99M	+0.5%	+220.1%
Q2 23	99M	+0.1%	+65.8%
Q3 23	99M	+0.6%	+44.2%
Q4 23	99M	+0.2%	+1.4%
Q1 24	100M	+0.0%	+0.9%
Q2 24	101M	+1.5%	+2.4%
Q3 24	101M	0.0%	+1.7%
Q4 24	106M	+4.9%	+6.6%
Q1 25	118M	+10.9%	+18.2%
Q2 25	130M	+10.8%	+29.0%
Q3 25	145M	+11.3%	+43.6%
Q4 25	146M	+0.3%	+37.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	24
Q2 22	$0	24
Q3 22	$0	24
Q4 22	$0	25
Q1 23	$0	25
Q2 23	$0	25
Q3 23	$0	25
Q4 23	$0	25
Q1 24	$0	25
Q2 24	$0	25
Q3 24	$0	25
Q4 24	$0	26
Q1 25	$0	26
Q2 25	$0	26
Q3 25	$0	26
Q4 25	$0	34

Revenue / Employee