A Business at a Glance
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We are a commercial stage biopharmaceutical company focused on the development and commercialization of therapeutics, starting with eye care. We launched XDEMVY® (lotilaner ophthalmic solution) 0.25%, formerly known as TP-03, for the treatment of Demodex blepharitis, in August 2023 after receiving U.S. Food and Drug Administration (“FDA”) approval in July 2023. Demodex blepharitis is caused by the infestation of Demodex mites. Demodex blepharitis (“blephar” is a reference to eyelid and “itis” is a reference to inflammation) is a disease characterized by inflammation of the eyelid margin, redness and ocular irritation, including a specific type of eyelash dandruff called collarettes, which are pathognomonic for Demodex blepharitis. Poorly controlled and progressive Demodex blepharitis can lead to corneal damage over time and, in extreme cases, blindness. There may be as many as approximately 25 million people in the U.S. who suffer from Demodex blepharitis.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 451M | 451M | 183M | - | - | 57M |
| Net Income | -66M | -66M | -116M | -136M | -62M | -14M |
| EPS | $-1.59 | $-1.59 | $-3.07 | $-4.62 | $-2.52 | $-0.67 |
| Free Cash Flow | -22M | -22M | -85M | -119M | -50M | 3.2M |
| ROIC | -24.1% | -18.7% | -39.0% | -59.9% | -29.2% | -8.3% |
| Gross Margin | 93.2% | 93.2% | 93.0% | - | - | 96.4% |
| Debt/Equity | 0.21 | 0.21 | 0.32 | 0.15 | 0.10 | 0.00 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Operating Income | -71M | -71M | -121M | -143M | -63M | -12M |
| Operating Margin | -15.7% | -15.7% | -65.9% | - | - | -21.3% |
| ROE | -19.3% | -23.4% | -51.5% | -69.0% | -32.2% | -8.3% |
| Shares Outstanding | 42M | 42M | 38M | 29M | 25M | 21M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 0 | 57M | N/A | N/A | 183M | 451M | 451M |
| Gross Margin | N/A | 96.4% | N/A | N/A | 93.0% | 93.2% | 93.2% |
| R&D | 19M | 42M | 43M | 50M | 53M | 64M | 64M |
| SG&A | 8.2M | 25M | 45M | 109M | 237M | 427M | 427M |
| EBIT | -27M | -12M | -63M | -143M | -121M | -71M | -71M |
| Op. Margin | N/A | -21.3% | N/A | N/A | -65.9% | -15.7% | -15.7% |
| Net Income | -27M | -14M | -62M | -136M | -116M | -66M | -66M |
| Net Margin | N/A | -24.2% | N/A | N/A | -63.2% | -14.7% | -14.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | -15.7% | -8.3% | -29.2% | -59.9% | -39.0% | -18.7% | -24.1% |
| ROE | N/A | -8.3% | -32.2% | -69.0% | -51.5% | -23.4% | -19.3% |
| ROA | -15.6% | -7.7% | -27.2% | -51.2% | -30.7% | -14.1% | -11.8% |
| Cash Flow | |||||||
| Op. Cash Flow | -21M | 3.7M | -49M | -117M | -83M | -12M | -12M |
| Free Cash Flow | -22M | 3.2M | -50M | -119M | -85M | -22M | -22M |
| Owner Earnings | -22M | -5.0M | -63M | -138M | -112M | -56M | -56M |
| CapEx | 456K | 586K | 506K | 1.5M | 1.6M | 9.9M | 9.9M |
| Maint. CapEx | 96K | 312K | 325K | 877K | 1.2M | 1.8M | 1.8M |
| Growth CapEx | 360K | 274K | 181K | 625K | 342K | 8.0M | 8.0M |
| D&A | 96K | 312K | 325K | 877K | 1.2M | 1.8M | 1.8M |
| CapEx/OCF | N/A | 15.6% | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 839K | 8.5M | 13M | 20M | 28M | 42M | 42M |
| Debt Repayment | 0 | 0 | 875K | 0 | 3.5M | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | N/A | -172M | -198M | -198M | -220M | -345M | -111M |
| Cash & Equiv. | 168M | 171M | 72M | 225M | 95M | 184M | 184M |
| Long-Term Debt | N/A | 0 | 19M | 30M | 72M | 72M | 72M |
| Debt/Equity | N/A | 0.00 | 0.10 | 0.15 | 0.32 | 0.21 | 0.21 |
| Interest Coverage | -143.6 | N/A | -28.5 | -42.8 | -15.4 | -7.9 | -7.9 |
| Equity | N/A | 167M | 193M | 197M | 225M | 343M | 343M |
| Total Assets | 172M | 179M | 228M | 265M | 377M | 562M | 562M |
| Total Liabilities | N/A | 12M | 35M | 69M | 152M | 219M | 219M |
| Intangibles | N/A | N/A | 0 | 3.9M | 8.3M | 7.4M | 7.4M |
| Retained Earnings | -33M | -47M | -109M | -245M | -360M | -427M | -427M |
| Working Capital | 165M | 164M | 210M | 219M | 276M | 387M | 387M |
| Current Assets | 171M | 176M | 225M | 256M | 357M | 523M | 523M |
| Current Liabilities | 5.4M | 11M | 15M | 37M | 81M | 136M | 136M |
| Per Share Data | |||||||
| EPS | -4.32 | -0.67 | -2.52 | -4.62 | -3.07 | -1.59 | -1.59 |
| Owner EPS | -1.07 | -0.24 | -2.55 | -4.70 | -2.98 | -1.34 | -1.34 |
| Book Value | N/A | 8.08 | 7.83 | 6.70 | 5.97 | 8.22 | 8.22 |
| Cash Flow/Share | -1.02 | 0.18 | -1.99 | -3.99 | -2.21 | -0.30 | -1.55 |
| Dividends/Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares Out. | 20.7M | 20.6M | 24.6M | 29.4M | 37.6M | 41.8M | 41.8M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -46.4 |
| P/FCF | N/A | 160.6 | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.0 | 1.8 | 3.1 | 9.2 | 9.9 | 9.0 |
| Price/Sales | N/A | 10.8 | N/A | N/A | 7.0 | 5.0 | 6.8 |
| FCF Yield | -2.6% | 0.6% | -14.2% | -19.5% | -4.1% | -0.7% | -0.7% |
| Market Cap | 828M | 508M | 348M | 610M | 2.1B | 3.4B | 3.1B |
| Avg. Price | 27.72 | 29.90 | 16.62 | 16.20 | 33.98 | 54.42 | 73.81 |
| Year-End Price | 40.00 | 24.61 | 14.12 | 20.73 | 55.00 | 81.78 | 73.81 |
Tarsus Pharmaceuticals, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 94.2%.
Tarsus Pharmaceuticals, Inc. (TARS) has a 5-year average return on invested capital (ROIC) of -31.0%. This is below average and may indicate limited pricing power.
Tarsus Pharmaceuticals, Inc. (TARS) has a market capitalization of $3.1B. It is classified as a mid-cap stock.
Tarsus Pharmaceuticals, Inc. (TARS) does not currently pay a regular dividend.
Tarsus Pharmaceuticals, Inc. (TARS) operates in the Biological Products, (No Diagnostic Substances) industry, within the Healthcare sector.
Tarsus Pharmaceuticals, Inc. (TARS) reported annual revenue of $451 million in its most recent fiscal year, based on SEC EDGAR filings.
Tarsus Pharmaceuticals, Inc. (TARS) has a net profit margin of -14.7%. The company is currently unprofitable.
Tarsus Pharmaceuticals, Inc. (TARS) generated $-22 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Tarsus Pharmaceuticals, Inc. (TARS) has a debt-to-equity ratio of 0.21. This indicates a conservatively financed balance sheet.
Tarsus Pharmaceuticals, Inc. (TARS) reported earnings per share (EPS) of $-1.59 in its most recent fiscal year.
Tarsus Pharmaceuticals, Inc. (TARS) has a return on equity (ROE) of -23.4%. A negative ROE may indicate losses or negative equity.
Tarsus Pharmaceuticals, Inc. (TARS) has a 5-year average gross margin of 94.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for Tarsus Pharmaceuticals, Inc. (TARS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Tarsus Pharmaceuticals, Inc. (TARS) has a book value per share of $8.22, based on its most recent annual SEC filing.