TARS FINANCIAL STATEMENTS

Tarsus Pharmaceuticals Inc — balance sheet, income statement and cash flow trends

TARSTarsus Pharmaceuticals Inc

🇺🇸 USA · NASDAQ · Healthcare · Biotechnology

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue535.1 M $+129.0%

Gross Profit483.9 M $+122.7%

Operating Income-50.8 M $—

EBITDA-40.2 M $—

Net Income-48.3 M $—

Peer Comparison· Biotechnology

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
TARS	129.0%	90.4%	-7.5%	-9.0%
TLX	56.3%	50.8%	3.0%	-0.9%
MSB	410.4%	-32.0%	-76.6%	-115.3%
CSL	4.8%	48.6%	32.8%	9.2%
Industry median	5.1%	84.0%	-105.8%	-125.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
TARS	129.0%	90.4%	-7.5%	-9.0%
IRON	—	2.9%	1,988.9%	2,016.9%
VERA	—	—	—	—
NRIX	27.2%	-139.4%	-382.1%	-411.4%
TRVI	-100.0%	—	—	—
COGT	-100.0%	—	—	—
Industry median	5.1%	84.0%	-105.8%	-125.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity349 M $60%
Current Liabilities143.5 M $25%
Long-term Liabilities88.7 M $15%

Key Figures

YoY change

Total Assets581.1 M $+16.1%

Total Liabilities232.2 M $+46.7%

Total Equity349 M $+1.9%

Cash & ST Investments388.7 M $-4.7%

Total Debt88.7 M $+22.5%

Net Debt-13.5 M $—

Peer Comparison· Biotechnology

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
TARS	3.74	25.4%	7.47	60.0%
TLX	1.43	112.3%	13.13	35.1%
MSB	—	—	—	—
CSL	2.57	67.4%	2.22	49.2%
Industry median	5.90	10.9%	1.15	70.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
TARS	3.74	25.4%	7.47	60.0%
IRON	24.00	4.5%	2.93	91.8%
VERA	13.64	15.0%	1.46	80.4%
NRIX	6.01	12.2%	1.76	75.6%
TRVI	24.75	0.4%	3.76	95.8%
COGT	15.14	39.3%	1.79	67.3%
Industry median	5.90	10.9%	1.15	70.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow-16.5 M $—

Capital Expenditures15.1 M $+116.1%

Free Cash Flow-31.5 M $—

Dividends Paid——

Peer Comparison· Biotechnology

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
TARS	-3.1%	-5.9%	2.8%	34.1%
TLX	-2.2%	-6.3%	4.1%	243.1%
MSB	-87.7%	-90.0%	2.3%	76.1%
CSL	24.0%	20.3%	3.7%	261.5%
Industry median	-88.0%	-90.9%	1.9%	81.5%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
TARS	-3.1%	-5.9%	2.8%	34.1%
IRON	1,680.0%	1,680.7%	-0.7%	83.3%
VERA	—	—	—	79.5%
NRIX	-362.6%	-378.7%	16.1%	88.2%
TRVI	—	—	—	99.3%
COGT	—	—	—	80.4%
Industry median	-88.0%	-90.9%	1.9%	81.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.