TNXP Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Tonix Pharmaceuticals Holding Corp. had $13.1M of revenue in fiscal 2025, up 29.8% on the year before.
Last close Β· Oct 23, 2026
$5.17
0.8%Hi! I read Tonix Pharmaceuticals Holding Corp.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+29.8%
Yes. Sales grew 29.8% last year.
Does it make a profit?
β946.2%
No. It lost money last year.
Does profit turn into cash?
β787.5%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Tonix Pharmaceuticals Holding Corp. did it, and the next one. Share prices often move a lot on those days.
Next results
November 9, 2026
Monday Β· in 14 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Oct 15, 2026 | Period ended Sep 30, 2026 | Before the market opens | 8-K β |
| Aug 10, 2026 | Q2 '26 | Before the market opens | 8-K β |
| May 1, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 3, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Oct 27, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Jul 25, 2025 | Q2 '25 | After the market closes | 8-K β |
| Apr 25, 2025 | Q1 '25 | After the market closes | 8-K β |
| Feb 3, 2025 | Q4 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Tonix Pharmaceuticals Holding Corp. had $13.1M of revenue in fiscal 2025, up 29.8% on the year before. Its operating margin was β959.1%, up 395.2Β pts: of every 100 in sales, about β959 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Tonix Pharmaceuticals Holding Corp. lost $124M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$103M in fiscal 2025, β787.5% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Tonix Pharmaceuticals Holding Corp. returned $13.8M to shareholders in fiscal 2025. The diluted share count rose 1,056.0%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Tonix Pharmaceuticals Holding Corp. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $179M | $120M | $24.9M | $98.8M | $208M |
| Debt incl. finance leases | β | β | $11.0M | $8.7M | β |
| Debt / equity | β | β | 0.1x | 0.1x | β |
| Interest coverage | β | β | β | β110.8x | β1,412.4x |
| Current ratio | 8.7x | 7.2x | 2.5x | 6.5x | 7.4x |
| Quick ratio | 8.7x | 7.2x | 1.8x | 6.0x | 7.4x |
| Total assets | $241M | $226M | $154M | $163M | $277M |
| Total liabilities | $22.2M | $18.5M | $48.9M | $23.3M | $32.0M |
| Shareholders' equity | $219M | $207M | $106M | $140M | $245M |
| Net debt (β = net cash) | β | β | β$13.9M | β$90.1M | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Tonix Pharmaceuticals Holding Corp. passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 | 4 / 9 | 4 / 8 |
| Accruals ratio | β5.6% | β7.4% | β8.0% | β9.5% | β3.4% | β9.9% | β5.2% | β7.7% | β43.6% | β11.0% |
| Altman Z'' | β7.90 | β7.08 | β14.87 | β56.02 | 1.62 | 7.47 | 4.90 | β14.34 | β9.93 | β0.37 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | β | β | β | β | β | β | β | $7.8M | $10.1M | $13.1M |
| Gross profit | β | β | β | β | β | β | β | $3.0M | $2.3M | $6.5M |
| Research and development | $28.5M | $13.3M | $17.6M | $18.2M | $36.2M | $68.8M | $81.9M | $86.7M | $40.0M | $44.5M |
| Operating income | β$39.0M | β$21.3M | β$26.3M | β$28.8M | β$50.5M | β$92.3M | β$112M | β$118M | β$137M | β$126M |
| Interest expense | β | β | β | β | β | β | β | β | $1.2M | $0.1M |
| Pretax income | β$38.8M | β$21.1M | β$4.6M | β$6.0M | β$9.3M | β$18.6M | β$21.7M | β$18.5M | β$80.6M | β$34.0M |
| Net income | β$38.8M | β$21.1M | β$26.1M | β$28.6M | β$50.5M | β$92.3M | β$110M | β$117M | β$130M | β$124M |
| Net income to common | β | β$21.1M | β$29.4M | β$31.1M | β$52.2M | β$92.3M | β$117M | β$117M | β$130M | β$124M |
| Diluted EPS | β$15.41 | β$31.69 | β$259.85 | β$19.33 | β$0.55 | β$8.10 | β$20.01 | β$14,720.25 | β$176.60 | β$14.57 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.09B | 0.01B | 0.01B | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||||||
| Cash from operations | β$37.3M | β$19.1M | β$24.0M | β$26.7M | β$48.6M | β$75.6M | β$98.1M | β$102M | β$60.9M | β$99.8M |
| Capital expenditure | $0.1M | $0.0M | $0.0M | $0.0M | $8.6M | $35.3M | $48.1M | $7.9M | $0.1M | $3.4M |
| Free cash flow | β$37.4M | β$19.1M | β$24.0M | β$26.7M | β$57.1M | β$111M | β$146M | β$110M | β$61.0M | β$103M |
| Depreciation and amortization | $0.2M | $0.1M | $0.1M | $0.0M | $0.0M | $0.1M | $1.3M | $4.3M | $3.4M | $1.9M |
| Stock-based compensation | $3.3M | $1.8M | $1.6M | $1.5M | $2.9M | $7.9M | $10.9M | $9.3M | $4.8M | $6.0M |
| Share buybacks | β | β | β | β | β | β | β | $14.0M | β | $13.8M |
| Dividends and buybacks | β | β | β | β | β | β | β | $14.0M | β | $13.8M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $18.9M | $25.5M | $25.0M | $11.2M | $77.1M | $179M | $120M | $24.9M | $98.8M | $208M |
| Total debt | β | β | β | β | β | β | β | $11.0M | $8.7M | β |
| Current assets | $27.1M | $26.4M | $26.1M | $13.9M | $88.0M | $189M | $131M | $47.8M | $119M | $229M |
| Current liabilities | $2.1M | $2.1M | $2.7M | $5.1M | $9.8M | $21.7M | $18.2M | $18.9M | $18.3M | $30.8M |
| Inventory | β | β | β | β | β | β | β | $13.6M | $8.4M | β |
| Property and equipment, net | $0.2M | $0.1M | $0.0M | $0.0M | $8.6M | $50.6M | $93.8M | $94.0M | $42.3M | $44.5M |
| Goodwill | β | β | β | β | β | β | β | $1.0M | β | β |
| Intangible assets | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $9.7M | $0.1M | $0.1M |
| Total assets | $27.5M | $26.8M | $26.3M | $14.6M | $98.2M | $241M | $226M | $154M | $163M | $277M |
| Total liabilities | $2.1M | $2.1M | $2.7M | $5.1M | $10.5M | $22.2M | $18.5M | $48.9M | $23.3M | $32.0M |
| Shareholders' equity | $25.4M | $24.6M | $23.7M | $9.4M | $87.6M | $219M | $207M | $106M | $140M | $245M |
| Margins | ||||||||||
| Gross margin | β | β | β | β | β | β | β | 39.0% | 23.1% | 49.3% |
| Operating margin | β | β | β | β | β | β | β | β1,523.9% | β1,354.3% | β959.1% |
| EBITDA margin | β | β | β | β | β | β | β | β1,468.7% | β1,320.4% | β944.4% |
| Net margin | β | β | β | β | β | β | β | β1,501.8% | β1,288.3% | β946.2% |
| FCF margin | β | β | β | β | β | β | β | β1,414.8% | β604.8% | β787.5% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β | β | β102.1% | β218.5% | β |
| Return on capital employed | β153.5% | β86.5% | β111.2% | β305.9% | β57.2% | β42.1% | β54.0% | β87.3% | β94.5% | β51.0% |
| Return on equity | β153.2% | β84.5% | β108.1% | β173.0% | β104.0% | β60.2% | β51.8% | β74.6% | β106.1% | β64.5% |
| Return on assets | β141.2% | β77.9% | β98.3% | β140.0% | β89.5% | β54.4% | β47.2% | β61.4% | β82.0% | β56.4% |
| Return on tangible equity | β153.9% | β86.2% | β124.7% | β334.4% | β59.6% | β42.2% | β56.4% | β123.0% | β93.3% | β50.6% |
| Growth | ||||||||||
| Revenue growth | β | β | β | β | β | β | β | β | 29.9% | 29.8% |
| Share count change | β | β73.6% | β83.0% | 1,323.5% | 5,780.4% | β88.0% | β48.7% | β99.9% | 9,220.3% | 1,056.0% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | β | β | 0.1x | 0.1x | β |
| Interest coverage | β | β | β | β | β | β | β | β | β110.8x | β1,412.4x |
| Current ratio | 12.8x | 12.4x | 9.8x | 2.7x | 9.0x | 8.7x | 7.2x | 2.5x | 6.5x | 7.4x |
| Quick ratio | 12.8x | 12.4x | 9.8x | 2.7x | 9.0x | 8.7x | 7.2x | 1.8x | 6.0x | 7.4x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | β | β | β | β | β | 101.6% | 1.2% | 25.7% |
| Stock comp / revenue | β | β | β | β | β | β | β | 119.4% | 47.3% | 45.9% |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | β | β | β | β | β | β | 4.0 | 4.0 |
| Altman Z'' | β7.9 | β7.1 | β14.9 | β56.0 | 1.6 | 7.5 | 4.9 | β14.3 | β9.9 | β0.4 |
| Accruals ratio | β5.6% | β7.4% | β8.0% | β9.5% | β3.4% | β9.9% | β5.2% | β7.7% | β43.6% | β11.0% |
Source: SEC EDGAR XBRL filings (CIK 0001430306). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
