TARS
$71.03+2.20%
Tarsus Pharmaceuticals Inc.Stock · HealthcareRussell 2000 · 0.08% of IWMNasdaq Composite · 0.007% of ONEQUS Stock Market · 0.004% of VTIRussell 3000 · 0.003% of IWV
TARS financial statements
The full income statement, balance sheet, and cash-flow statement for Tarsus Pharmaceuticals Inc. (TARS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 38.0M2024-09 38.2M2024-12 38.4M2025-03 42.0M2025-06 42.2M2025-09 42.4M2025-12 42.6M2026-03 43.0M2026-06 43.9M+15.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 451M+146.7% | 183M+948.6% | 17.4M-32.4% | 25.8M-54.7% | 57.0M | |
| — | — | 161M+81.4% | 88.5M+28.0% | 69.2M+156.3% | ||
| Research & development | 64.3M+20.5% | 53.4M+6.1% | 50.3M+18.0% | 42.6M+2.2% | 41.7M+121.6% | |
| Selling, general & administrative | 427M+80.1% | 237M+118.3% | 109M+141.8% | 44.9M+77.0% | 25.4M+210.8% | |
| General & administrative | — | — | — | 44.9M+77.0% | 25.4M+210.8% | |
| Amortization of intangibles | 961K+78.0% | 540K+306.0% | 133K | 0.00 | — | |
| Operating income | -71.0M+41.1% | -121M+15.8% | -143M-128.3% | -62.7M-415.9% | -12.2M+55.0% | |
| Interest expense | 8.94M+13.8% | 7.85M+134.6% | 3.35M+52.2% | 2.20M | 0.00 | |
| Other non-operating income | -202K+1.9% | -206K-175.2% | 274K+218.6% | 86.0K+217.8% | -73.0K | |
| Gain (loss) on equity securities | 0.00+100.0% | -591K-328.2% | 259K+196.6% | -268K+54.7% | -591K | |
| Pre-tax income | -64.4M+44.3% | -116M+15.0% | -136M-118.8% | -62.1M-350.9% | -13.8M+48.6% | |
| Income tax | 2.06M | 0.00 | 0.00+100.0% | -4.00K-107.3% | 55.0K+5400.0% | |
| Net income | -66.4M+42.5% | -116M+15.0% | -136M-118.9% | -62.1M-349.1% | -13.8M+48.4% | |
| -$1.59+48.2% | -$3.07+33.5% | -$4.62-83.3% | -$2.52-276.1% | -$0.67+84.5% | ||
| EPS (basic) | -$1.59+48.2% | -$3.07+33.5% | -$4.62-83.3% | -$2.52-276.1% | -$0.67+84.5% | |
| Weighted-avg shares (basic) | 41.8M+11.1% | 37.6M+28.0% | 29.4M+19.3% | 24.6M+19.8% | 20.6M+231.1% | |
| Weighted-avg shares (diluted) | 41.8M+11.1% | 37.6M+28.0% | 29.4M+19.3% | 24.6M+19.8% | 20.6M+231.1% | |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 523M+46.6% | 357M+39.3% | 256M+13.6% | 225M+28.1% | 176M+3.1% | ||
| Cash & equivalents | 184M+93.7% | 94.8M-57.8% | 225M+213.9% | 71.7M-58.2% | 171M+1.9% | |
| Short-term investments | 234M+18.9% | 197M+7778.0% | 2.50M-98.3% | 145M+29996.5% | 483K | |
| Accounts receivable | 85.1M+81.9% | 46.8M+181.3% | 16.6M | 0.00 | 0.00 | |
| Inventory | 4.37M+66.9% | 2.62M-15.7% | 3.11M | 0.00 | — | |
| Prepaid expenses | 13.5M-8.0% | 14.7M+86.2% | 7.87M+65.1% | 4.77M+17.8% | 4.04M+62.7% | |
| 562M+49.1% | 377M+42.0% | 265M+16.5% | 228M+27.4% | 179M+4.0% | ||
| Property, plant & equipment | 11.7M+404.1% | 2.31M+57.6% | 1.47M+53.4% | 957K+26.8% | 755K+37.8% | |
| Operating lease right-of-use | 10.1M+1726.1% | 552K-70.6% | 1.88M+227.0% | 575K-46.5% | 1.07M+56.1% | |
| Intangible assets | 7.37M-11.5% | 8.33M+115.3% | 3.87M | 0.00 | — | |
| Long-term investments | 3.87M+29.0% | 3.00M+375.4% | 631K+70.1% | 371K | 0.00 | |
| Other non-current assets | 1.86M+86.3% | 999K-34.0% | 1.51M+158.8% | 585K-48.0% | 1.13M+1290.1% | |
| 136M+68.3% | 80.6M+118.2% | 36.9M+139.4% | 15.4M+34.4% | 11.5M+113.1% | ||
| Accounts payable | 16.4M+74.0% | 9.42M-47.0% | 17.8M+223.2% | 5.50M+92.5% | 2.86M+27.7% | |
| Deferred revenue | — | — | — | 0.00-100.0% | 697K | |
| Current lease liability | 0.00-100.0% | 608K+52.8% | 398K-44.8% | 721K+18.4% | 609K+116.0% | |
| Other current liabilities | 22.2M+21.1% | 18.3M | — | — | — | |
| 219M+43.5% | 152M+122.6% | 68.5M+95.9% | 35.0M+187.1% | 12.2M+103.2% | ||
| Long-term debt | 72.4M+0.8% | 71.8M+140.9% | 29.8M+53.4% | 19.4M | 0.00 | |
| Non-current lease liability | 10.6M | 0.00-100.0% | 1.51M+2813.5% | 52.0K-91.1% | 585K+6.6% | |
| Operating lease liability (total) | 10.6M+1643.3% | 608K-68.2% | 1.91M+115.2% | 889K-25.5% | 1.19M+43.7% | |
| Other non-current liabilities | 10.6M | 0.00-100.0% | 1.75M+1648.0% | 100K-85.7% | 699K+15.5% | |
| 343M+53.0% | 225M+14.0% | 197M+2.1% | 193M+15.7% | 167M+0.5% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 6.00K+0.0% | 6.00K+20.0% | 5.00K+0.0% | 5.00K+25.0% | 4.00K+0.0% | |
| Additional paid-in capital | 770M+31.7% | 585M+32.4% | 442M+46.4% | 302M+41.4% | 213M+7.3% | |
| Retained earnings | -427M-18.4% | -360M-47.2% | -245M-124.9% | -109M-133.0% | -46.7M-42.1% | |
| Accumulated other comprehensive income | 381K+112.8% | 179K+9050.0% | -2.00K+97.3% | -74.0K | 0.00 | |
| Total liabilities & equity | 562M+49.1% | 377M+42.0% | 265M+16.5% | 228M+27.4% | 179M+4.0% | |
| Common shares issued | 42.6M+11.0% | 38.3M+12.1% | 34.2M+28.0% | 26.7M+29.0% | 20.7M+1.1% | |
| Common shares outstanding | 42.6M+11.0% | 38.3M+12.1% | 34.2M+28.1% | 26.7M+29.0% | 20.7M+1.8% | |
| Shares outstanding (cover) | 42.6M+10.9% | 38.4M+12.2% | 34.2M+28.0% | 26.7M+29.1% | 20.7M+1.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -12.5M+85.0% | -83.0M+29.3% | -117M-139.6% | -49.0M-1408.2% | 3.75M+117.7% | ||
| Depreciation & amortization | 1.82M+48.2% | 1.23M+39.7% | 877K+169.0% | 326K+8.7% | 300K+200.0% | |
| Intangible amortization | 961K+78.0% | 540K+306.0% | 133K | 0.00 | — | |
| Share-based compensation | 41.7M+50.0% | 27.8M+40.3% | 19.8M+47.3% | 13.5M+59.2% | 8.46M+907.7% | |
| Deferred income taxes | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Change in receivables | 38.3M+27.1% | 30.1M+81.3% | 16.6M | 0.00 | — | |
| Change in inventory | 1.75M-14.4% | 2.05M-34.1% | 3.11M | 0.00 | — | |
| -42.1M+78.9% | -199M-241.7% | 141M+197.2% | -145M-24580.7% | -586K-28.5% | ||
| Capital expenditure | 9.86M+529.2% | 1.57M+4.3% | 1.50M+196.8% | 506K-13.7% | 586K+28.5% | |
| Free cash flow | -22.3M+73.6% | -84.6M+28.9% | -119M-140.2% | -49.5M-1666.6% | 3.16M+114.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 143M-7.3% | 155M+18.8% | 130M+38.5% | 94.0M+447457.1% | 21.0K-100.0% | ||
| Long-term debt issued | 0.00-100.0% | 75.0M+650.0% | 10.0M-50.0% | 20.0M | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 88.8M+169.6% | -128M-183.2% | 153M+253.8% | -99.7M-3231.4% | 3.18M-97.1% | |
| Interest paid | 8.34M+8.9% | 7.66M+166.0% | 2.88M+71.9% | 1.68M | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.48B+64.0% | 2.12B+217.0% | 670M+71.4% | 391M-16.1% | 466M-45.0% | |
| P/S | 7.7×-33.5% | 11.6×-75.1% | 46.6×+92.7% | 24.2×+196.2% | 8.2× | |
| P/B | 10.1×+7.2% | 9.5×+201.6% | 3.1×+62.6% | 1.9×-30.9% | 2.8×-45.3% | |
| P/FCF | — | — | — | — | 147.4× | |
| FCF yield | — | — | — | — | 0.68% | |
| Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: TARS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TARS filings on SEC EDGAR → Not investment advice.