Tarsus Pharmaceuticals, Inc. (TARS) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	606.3M	451.4M	183.0M	17.4M	25.8M
Cost of Revenue	57.0M	30.7M	12.8M	1.6M	955.0K
Gross Profit	549.3M	420.7M	170.1M	15.9M	24.9M
Operating Expenses
R&D Expense	87.7M	64.3M	53.4M	50.3M	42.6M
SG&A Expense	526.4M	427.3M	237.3M	108.7M	44.9M
General & Admin Expense	150.7M	—	—	—	44.9M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	(16.3M)	—	—	—	—
Total Operating Expenses	597.8M	491.6M	290.7M	159.0M	87.6M
Cost and Expenses	654.9M	522.3M	303.5M	160.6M	88.5M
Operating Income (EBIT)	(48.5M)	(71.0M)	(120.6M)	(143.2M)	(62.7M)
Non-Operating
Interest Income	15.5M	15.7M	15.0M	10.3M	3.5M
Interest Expense	8.6M	8.9M	7.4M	3.2M	2.1M
Net Interest Income	6.9M	6.8M	7.6M	7.1M	1.4M
Other Non-Op Income/Expense	4.5M	6.6M	5.0M	7.3M	617.0K
Non-Operating Income (excl Interest)	(11.0M)	(15.5M)	(12.9M)	(10.6M)	(2.7M)
EBT (Pre-Tax Income)	(44.1M)	(64.4M)	(115.6M)	(135.9M)	(62.1M)
Income Tax Expense	2.4M	2.1M	—	—	(4.0K)
Bottom Line
Net Income	(46.5M)	(66.4M)	(115.6M)	(135.9M)	(62.1M)
Earnings from Cont. Ops	(46.5M)	(66.4M)	(115.6M)	(135.9M)	(62.1M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(46.5M)	(66.4M)	(115.6M)	(135.9M)	(62.1M)
Per Share
Basic EPS	($1.09)	($1.59)	($3.07)	($4.62)	($2.52)
Diluted EPS	($1.09)	($1.59)	($3.07)	($4.62)	($2.52)
Revenue Per Share	$13.97	$10.80	$4.87	$0.59	$1.05
Shares
Basic Shares Outstanding	43.4M	41.8M	37.6M	29.4M	24.6M
Diluted Shares Outstanding	43.4M	41.8M	37.6M	29.4M	24.6M
Profitability Metrics
EBITDA	(35.2M)	(53.6M)	(106.5M)	(131.7M)	(59.7M)
D&A	2.3M	1.8M	1.2M	877.0K	326.0K
EBIT	(37.6M)	(55.4M)	(107.7M)	(132.5M)	(60.0M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026