TVTX

MKT CAP:$4B

Travere Therapeutics, Inc.

Market Cap

$4B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$38.78-$0.74 (-1.87%)

Apr 21, 2026

Company Details

Travere Therapeutics, Inc., a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral...

CEO

Eric Dube

IPO Date

Nov 8, 2012

Website

www.travere.com

Key Metrics TTM

Revenue

$491M

+132.3% YoY

Net Income

-$50M

EPS (Diluted)

-$0.60

Free Cash Flow

$26M

Revenue / Share

$5.43

Gross Margin

94.2%

Operating Margin

-12.8%

Net Margin

-10.2%

FCF Margin

5.3%

P/S

7.6x

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

Q4 2025

Feb 19, 2026

$130M+73.4%EPS -$0.24

Q3 2025

Oct 30, 2025

$165M+162.1%EPS $0.25

Q2 2025

Aug 6, 2025

$114MEPS -$0.14

Q1 2025

May 1, 2025

$82M+97.5%EPS -$0.47

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$51M	$49M	-$119M
Q1 21	$47M	$46M	-$48M
Q2 21	$55M	$53M	-$35M
Q3 21	$68M	$67M	-$32M
Q4 21	$57M	$55M	-$47M
Q1 22	$48M	$46M	-$57M
Q2 22	$54M	$52M	-$65M
Q1 23	$57M	$52M	-$80M
Q2 23	$32M	$31M	-$104M
Q1 24	$41M	$40M	-$139M
Q3 24	$63M	$61M	-$56M
Q4 24	$75M	$72M	-$61M
Q1 25	$82M	$77M	-$43M
Q2 25	$114M	$113M	-$13M
Q3 25	$165M	$163M	$25M
Q4 25	$130M	$109M	-$32M

Valuation

Quarter	P/S	P/E
Q4 20	7.1x	—
Q1 21	6.6x	—
Q2 21	4.6x	—
Q3 21	6.7x	—
Q4 21	8.5x	—
Q1 22	6.8x	—
Q2 22	6.7x	—
Q1 23	7.9x	—
Q2 23	6.2x	—
Q1 24	3.1x	—
Q3 24	5.6x	—
Q4 24	6.4x	—
Q1 25	5.7x	—
Q2 25	3.9x	—
Q3 25	4.9x	—
Q4 25	7.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	-$14M	-$118M
Q1 21	-$26M	-$36M
Q2 21	$6M	$2M
Q3 21	$32M	$32M
Q4 21	-$27M	-$32M
Q1 22	-$55M	-$61M
Q2 22	-$37M	-$37M
Q1 23	-$81M	-$109M
Q2 23	-$69M	-$73M
Q1 24	-$119M	-$125M
Q3 24	-$43M	-$51M
Q4 24	-$36M	-$45M
Q1 25	-$42M	-$54M
Q2 25	$5M	$5M
Q3 25	$14M	$14M
Q4 25	$61M	$61M

Capital Expenditures

Quarter	CapEx
Q4 20	$104M
Q1 21	$9M
Q2 21	$4M
Q3 21	$349.0K
Q4 21	$5M
Q1 22	$5M
Q2 22	$17.0K
Q1 23	$28M
Q2 23	$3M
Q1 24	$6M
Q3 24	$8M
Q4 24	$10M
Q1 25	$12M
Q2 25	$235.0K
Q3 25	$140.0K
Q4 25	$375.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	+9.2%	+158.3%
Q1 21	-0.8%	+51.1%
Q2 21	+12.8%	+25.7%
Q3 21	+33.4%	+41.6%
Q4 21	+12.3%	-38.4%
Q1 22	+2.3%	+11.1%
Q2 22	-0.8%	+33.0%
Q1 23	-16.5%	+37.4%
Q2 23	-43.8%	+30.4%
Q1 24	-14.7%	+71.1%
Q3 24	+16.1%	-0.5%
Q4 24	+31.2%	-1.3%
Q1 25	+153.9%	-8.6%
Q2 25	+176.6%	-29.6%
Q3 25	+162.1%	+17.5%
Q4 25	+73.4%	+19.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$6M	12.5%
Q1 21	$8M	16.7%
Q2 21	$7M	13.4%
Q3 21	$7M	10.2%
Q4 21	$9M	15.0%
Q1 22	$8M	16.9%
Q2 22	$13M	23.3%
Q1 23	$13M	23.6%
Q2 23	$12M	37.0%
Q1 24	$10M	23.6%
Q3 24	$8M	12.8%
Q4 24	$9M	12.3%
Q1 25	$11M	14.1%
Q2 25	$11M	9.3%
Q3 25	$11M	6.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 20	$38M	$36M	—	—
Q1 21	$48M	—	—	$37M
Q2 21	$52M	$35M	—	—
Q3 21	$48M	—	—	$36M
Q4 21	$62M	—	—	$42M
Q1 22	$57M	—	—	$47M
Q2 22	$60M	—	—	$53M
Q1 23	$60M	$66M	$6M	—
Q2 23	$66M	$68M	—	—
Q1 24	$115M	$64M	—	—
Q3 24	$52M	$66M	—	—
Q4 24	$62M	$70M	—	—
Q1 25	$47M	$73M	—	—
Q2 25	$49M	$76M	—	—
Q3 25	$52M	$86M	—	—
Q4 25	$58M	—	—	$102M

Revenue Segments

Quarter	Bile Acid Products	Tiopronin Products	License	Product
Q4 20	$23M	$28M	—	—
Q1 21	$22M	$25M	—	—
Q2 21	$25M	$30M	—	—
Q4 21	—	—	$3M	$55M
Q1 24	—	—	$1M	$40M
Q3 24	—	—	$2M	$61M
Q1 25	—	—	$6M	$76M
Q3 25	—	—	$52M	$113M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$257M	$347M	$603M
Q2 22	$180M	$373M	$553M
Q3 22	$151M	$355M	$506M
Q4 22	$62M	$389M	$450M
Q1 23	$161M	$400M	$562M
Q2 23	$71M	$420M	$491M
Q3 23	$144M	$490M	$635M
Q4 23	$58M	$509M	$567M
Q1 24	$43M	$398M	$441M
Q2 24	$32M	$293M	$325M
Q3 24	$36M	$241M	$277M
Q4 24	$59M	$312M	$371M
Q1 25	$62M	$260M	$322M
Q2 25	$75M	$244M	$320M
Q3 25	$111M	$144M	$255M
Q4 25	$93M	$230M	$323M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	51M	+0.7%	+17.6%
Q1 21	56M	+9.8%	+29.1%
Q2 21	61M	+7.6%	+35.3%
Q3 21	61M	+0.4%	+19.4%
Q4 21	62M	+1.3%	+20.2%
Q1 22	63M	+2.5%	+12.2%
Q2 22	64M	+0.8%	+5.1%
Q1 23	68M	+7.1%	+12.1%
Q2 23	76M	+11.5%	+23.3%
Q1 24	77M	+1.5%	+22.2%
Q3 24	78M	+0.8%	+22.2%
Q4 24	83M	+6.8%	+21.9%
Q1 25	88M	+6.3%	+16.3%
Q2 25	89M	+0.7%	+15.3%
Q3 25	103M	+15.4%	+31.9%
Q4 25	90M	-12.0%	+8.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$194.6K	262
Q1 21	$180.9K	262
Q2 21	$208.5K	262
Q3 21	$260.4K	262
Q4 21	$184.7K	310
Q1 22	$156.4K	310
Q2 22	$174.7K	310
Q1 23	$123.4K	462
Q2 23	$69.7K	462
Q1 24	$108.9K	380
Q3 24	$165.5K	380
Q4 24	$194.3K	385
Q1 25	$212.3K	385
Q2 25	$297.3K	385
Q3 25	$428.2K	385
Q4 25	$260.9K	497

Revenue / Employee