TLPH Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Talphera, Inc. had $0.0M of revenue in fiscal 2025. Over five years, revenue changed β65.1% a year on average.
Last close Β· Oct 23, 2026
$1.08
2.9%Hi! I read Talphera, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Does it make a profit?
β51,035.7%
No. It lost money last year.
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 Talphera, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 17 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 12, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 13, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 23, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 12, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 14, 2025 | Q2 '25 | After the market closes | 8-K β |
| May 14, 2025 | Q1 '25 | After the market closes | 8-K β |
| Mar 31, 2025 | Q4 '24 | After the market closes | 8-K β |
| Nov 13, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Talphera, Inc. had $0.0M of revenue in fiscal 2025. Over five years, revenue changed β65.1% a year on average. Its operating margin was β48,157.1%: of every 100 in sales, about β48,157 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· Talphera, Inc. lost $14.3M 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?
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
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
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 Talphera, Inc. 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 | $46.6M | $15.8M | $9.4M | $8.9M | $20.4M |
| Debt incl. finance leases | $13.8M | $5.8M | $0.0M | β | β |
| Debt / equity | β | 0.3x | 0.0x | β | β |
| Interest coverage | β15.7x | β22.7x | β126.0x | β | β |
| Current ratio | 2.7x | 1.8x | 2.6x | 3.6x | 5.5x |
| Quick ratio | 2.7x | 1.7x | 2.6x | 3.6x | 5.5x |
| Total assets | $77.9M | $47.5M | $20.4M | $18.2M | $29.7M |
| Total liabilities | $114M | $25.7M | $6.3M | $10.2M | $12.7M |
| Shareholders' equity | β$35.9M | $21.8M | $14.1M | $8.0M | $17.0M |
| Net debt (β = net cash) | β$32.8M | β$10.0M | β$9.4M | β | 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)
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 | 1 / 9 | 4 / 9 | 2 / 9 | 3 / 9 | 5 / 9 | 3 / 8 | 4 / 8 | β / 6 | β / 6 |
| Accruals ratio | β13.8% | β24.8% | β18.4% | β1.9% | β2.4% | β7.1% | 121.4% | β2.7% | β1.7% | β12.2% |
| Altman Z'' | β5.06 | β12.32 | β6.27 | β14.35 | β23.31 | β20.56 | β30.43 | β71.94 | β84.10 | β49.59 |
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 | $17.4M | $8.0M | $2.2M | $2.3M | $5.4M | $2.8M | $0.0M | $0.7M | $0.0M | $0.0M |
| Gross profit | $5.0M | β$2.7M | β$1.8M | β$4.5M | β$0.6M | β$0.9M | β$2.6M | β | β | β |
| Research and development | $21.4M | $19.4M | $13.1M | $4.7M | $4.0M | $4.1M | $3.3M | $5.5M | $6.7M | $6.0M |
| Operating income | β$32.0M | β$38.7M | β$35.7M | β$54.2M | β$41.0M | β$36.0M | β$25.3M | β$16.9M | β$15.3M | β$13.5M |
| Interest expense | $2.8M | $3.3M | $2.2M | $2.5M | $3.3M | $2.3M | $1.1M | $0.1M | $0.0M | β |
| Pretax income | β$43.2M | β$52.2M | β$47.1M | β$53.2M | β$40.4M | β$35.1M | $59.1M | β$10.3M | β | β |
| Income tax | β$0.0M | β$0.7M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$43.2M | β$51.5M | β$47.1M | β$53.2M | β$40.4M | β$35.1M | $47.8M | β$18.4M | β$13.0M | β$14.3M |
| Net income to common | β | β | β | β | β | β$35.1M | $42.3M | β$18.4M | β | β |
| Diluted EPS | β$0.95 | β$1.10 | β$0.81 | β$0.67 | β$0.47 | β$5.86 | $5.72 | β$1.29 | β | β |
| Diluted shares | 0.05B | 0.05B | 0.06B | 0.08B | 0.09B | 0.01B | 0.01B | 0.01B | β | β |
| Cash flow | ||||||||||
| Cash from operations | β$29.4M | β$29.8M | β$29.1M | β$51.2M | β$38.5M | β$30.0M | β$28.3M | β$17.5M | β$12.7M | β$11.4M |
| Capital expenditure | $3.7M | $2.4M | $0.8M | $3.5M | $1.9M | $1.8M | $0.4M | $0.1M | $0.0M | β |
| Free cash flow | β$33.1M | β$32.2M | β$29.9M | β$54.7M | β$40.4M | β$31.8M | β$28.7M | β$17.6M | β$12.7M | β |
| Depreciation and amortization | $2.1M | $1.7M | $0.6M | $1.7M | $1.9M | $2.0M | $1.6M | $0.3M | $0.0M | β |
| Stock-based compensation | $4.5M | $4.3M | $5.2M | $5.1M | $4.4M | $4.6M | $2.9M | $1.7M | $1.0M | $0.7M |
| Acquisitions | β | β | β | β | β | $0.8M | $1.7M | $0.0M | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $80.3M | $60.5M | $106M | $66.1M | $37.9M | $46.6M | $15.8M | $9.4M | $8.9M | $20.4M |
| Total debt | $21.5M | $19.1M | $12.0M | $25.1M | $21.9M | $13.8M | $5.8M | $0.0M | β | β |
| Current assets | $89.1M | $63.4M | $108M | $71.7M | $46.8M | $50.5M | $24.6M | $11.6M | $9.4M | $20.9M |
| Current liabilities | $10.2M | $13.7M | $15.9M | $13.6M | $17.6M | $18.5M | $13.8M | $4.5M | $2.6M | $3.8M |
| Inventory | $2.2M | $1.0M | $0.9M | $3.3M | $1.6M | $1.1M | $1.2M | β | β | β |
| Property and equipment, net | $10.7M | $11.1M | $11.5M | $14.6M | $15.7M | $15.9M | $10.3M | β | β | β |
| Intangible assets | β | β | β | β | β | $0.0M | $8.8M | $8.8M | $8.8M | $8.8M |
| Total assets | $100.0M | $75.6M | $121M | $91.4M | $66.3M | $77.9M | $47.5M | $20.4M | $18.2M | $29.7M |
| Total liabilities | $105M | $112M | $116M | $133M | $122M | $114M | $25.7M | $6.3M | $10.2M | $12.7M |
| Shareholders' equity | β$5.3M | β$36.5M | $4.3M | β$41.4M | β$55.8M | β$35.9M | $21.8M | $14.1M | $8.0M | $17.0M |
| Margins | ||||||||||
| Gross margin | 29.0% | β33.3% | β84.8% | β197.3% | β11.4% | β33.2% | β | β | β | β |
| Operating margin | β184.1% | β483.8% | β1,660.9% | β2,368.1% | β756.3% | β1,276.3% | β | β2,594.3% | β | β48,157.1% |
| EBITDA margin | β172.3% | β462.0% | β1,634.2% | β2,295.2% | β722.1% | β1,206.2% | β | β2,546.5% | β | β |
| Net margin | β248.6% | β644.3% | β2,192.0% | β2,325.9% | β745.6% | β1,245.5% | β | β2,826.0% | β | β51,035.7% |
| FCF margin | β190.8% | β402.4% | β1,389.8% | β2,387.5% | β745.2% | β1,129.5% | β | β2,702.3% | β | β |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β | β214.2% | β282.4% | β | β |
| Return on capital employed | β35.6% | β62.5% | β34.2% | β69.7% | β84.2% | β60.6% | β75.0% | β106.3% | β97.8% | β52.0% |
| Return on equity | β | β | β | β | β | β | β | β102.4% | β117.7% | β114.2% |
| Return on assets | β43.2% | β58.7% | β48.1% | β50.3% | β51.2% | β48.7% | 76.2% | β54.2% | β67.3% | β59.6% |
| Return on tangible equity | β | β | β1,108.6% | β | β | β | 325.7% | β348.0% | β | β173.9% |
| Growth | ||||||||||
| Revenue growth | β | β53.9% | β73.1% | 6.4% | 136.6% | β48.0% | β100.0% | β | β100.0% | β |
| Net income growth | β | β | β | β | β | β | β | β138.5% | β | β |
| EPS growth | β | β | β | β | β | β | β | β122.6% | β | β |
| Share count change | β | 3.5% | 24.6% | 35.6% | 7.7% | β93.0% | 23.6% | 92.6% | β | β |
| Financial health | ||||||||||
| Debt / equity | β | β | 2.8x | β | β | β | 0.3x | 0.0x | β | β |
| Interest coverage | β11.5x | β11.7x | β16.1x | β21.4x | β12.4x | β15.7x | β22.7x | β126.0x | β | β |
| Current ratio | 8.7x | 4.6x | 6.8x | 5.3x | 2.7x | 2.7x | 1.8x | 2.6x | 3.6x | 5.5x |
| Quick ratio | 8.5x | 4.6x | 6.7x | 5.0x | 2.6x | 2.7x | 1.7x | 2.6x | 3.6x | 5.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 21.4% | 30.1% | 38.1% | 151.6% | 34.3% | 64.8% | β | 15.4% | β | β |
| Stock comp / revenue | 25.8% | 53.7% | 240.3% | 220.9% | 81.7% | 163.6% | β | 265.6% | β | 2,496.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 1.0 | 4.0 | 2.0 | 3.0 | 5.0 | 3.0 | 4.0 | β | β |
| Altman Z'' | β5.1 | β12.3 | β6.3 | β14.4 | β23.3 | β20.6 | β30.4 | β71.9 | β84.1 | β49.6 |
| Accruals ratio | β13.8% | β24.8% | β18.4% | β1.9% | β2.4% | β7.1% | 121.4% | β2.7% | β1.7% | β12.2% |
Source: SEC EDGAR XBRL filings (CIK 0001427925). 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.
