Pelthos Therapeutics Financials
This page shows Pelthos Therapeutics (PTHS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 looks like a commercial launch funded by recapitalization, with overhead and working capital outrunning a $16.8M revenue base.
Liquidity was repaired between FY2024 and FY2025: the current ratio moved from 0.3x to 2.1x, shifting the company from near-term squeeze to short-term coverage. But that improvement was financing-led, not cash-generated, because operating cash burn reached-$22.6M while financing brought in$45.3M .
Gross margin of
Cash burn is operational rather than capital-intensive: free cash flow of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Pelthos Therapeutics's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pelthos Therapeutics has an operating margin of -193.1%, meaning the company retains $-193 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses.
Pelthos Therapeutics has a moderate D/E ratio of 2.35. This balance of debt and equity financing earns a leverage score of 54/100.
Pelthos Therapeutics's current ratio of 2.05 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.
While Pelthos Therapeutics generated -$22.6M in operating cash flow, capex of $99K consumed most of it, leaving -$22.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Pelthos Therapeutics generates a -111.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Pelthos Therapeutics passes 3 of 9 financial strength tests. 1 of 3 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Pelthos Therapeutics generates $0.52 in operating cash flow (-$22.6M OCF vs -$43.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Pelthos Therapeutics earns $-10.8 in operating income for every $1 of interest expense (-$32.4M vs $3.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Pelthos Therapeutics generated $16.8M in revenue in fiscal year 2025.
Pelthos Therapeutics's EBITDA was -$30.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Pelthos Therapeutics reported -$43.3M in net income in fiscal year 2025.
Pelthos Therapeutics earned $-23.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 61.5% from the prior year.
Cash & Balance Sheet
Pelthos Therapeutics generated -$22.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 291.7% from the prior year.
Pelthos Therapeutics held $18.0M in cash against $0 in long-term debt as of fiscal year 2025.
Pelthos Therapeutics had 3M shares outstanding in fiscal year 2025. This represents an increase of 429.9% from the prior year.
Margins & Returns
Pelthos Therapeutics's gross margin was 76.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Pelthos Therapeutics's operating margin was -193.1% in fiscal year 2025, reflecting core business profitability.
Pelthos Therapeutics's net profit margin was -257.9% in fiscal year 2025, showing the share of revenue converted to profit.
Pelthos Therapeutics's ROE was -111.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Pelthos Therapeutics invested $1.2M in research and development in fiscal year 2025. This represents an increase of 4.2% from the prior year.
Pelthos Therapeutics spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Pelthos Therapeutics invested $99K in capex in fiscal year 2025, funding long-term assets and infrastructure.
PTHS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.9M | N/A | $7.4M | N/A | $0 | N/A | N/A | N/A |
| Cost of Revenue | $1.7M | N/A | $2.3M | N/A | $0 | N/A | N/A | N/A |
| Gross Profit | $9.2M | N/A | $5.1M | N/A | $0 | N/A | N/A | N/A |
| R&D Expenses | $186K | N/A | $145K-71.8% | $515K+165.4% | $194K | N/A | $415K+3103.4% | $13K |
| SG&A Expenses | $21.1M | N/A | $19.6M+1668.2% | $1.1M-32.3% | $1.6M | N/A | $1.6M+35.1% | $1.2M |
| Operating Income | -$13.1M | N/A | -$15.4M-375.5% | -$3.2M-76.1% | -$1.8M | N/A | -$2.0M-16.2% | -$1.8M |
| Interest Expense | $2.4M | N/A | $1.3M | N/A | $2K | N/A | $39K | N/A |
| Income Tax | $0 | N/A | -$465K | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$10.2M | N/A | -$16.2M-370.8% | -$3.4M-75.3% | -$2.0M | N/A | -$1.7M+4.3% | -$1.8M |
| EPS (Diluted) | $-3.09 | N/A | $-5.30+1.5% | $-5.38-67.6% | $-3.21 | N/A | $-2.93+4.6% | $-3.07 |
PTHS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $145.4M+11.5% | $130.4M+3.1% | $126.4M+15265.3% | $823K-9.7% | $911K-33.4% | $1.4M-36.0% | $2.1M-17.8% | $2.6M |
| Current Assets | $69.8M+30.7% | $53.4M+7.3% | $49.8M+5947.4% | $823K-9.7% | $911K-33.4% | $1.4M-36.0% | $2.1M-17.8% | $2.6M |
| Cash & Equivalents | $32.0M+77.9% | $18.0M+26.5% | $14.2M+14103.0% | $100K-23.7% | $131K-74.5% | $513K-59.1% | $1.3M-47.8% | $2.4M |
| Inventory | $23.4M-0.7% | $23.6M-2.2% | $24.1M | N/A | N/A | $0 | N/A | N/A |
| Accounts Receivable | $11.7M+32.1% | $8.9M | N/A | N/A | N/A | $0 | N/A | N/A |
| Goodwill | $24.7M0.0% | $24.7M-19.4% | $30.6M | N/A | N/A | $0 | N/A | N/A |
| Total Liabilities | $110.3M+20.5% | $91.5M+34.2% | $68.2M+831.8% | $7.3M+43.3% | $5.1M+25.1% | $4.1M+14.5% | $3.6M+28.0% | $2.8M |
| Current Liabilities | $25.0M-3.8% | $26.0M+4.9% | $24.8M+238.5% | $7.3M+43.3% | $5.1M+25.1% | $4.1M+14.5% | $3.6M+28.0% | $2.8M |
| Long-Term Debt | $26.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $35.1M-9.7% | $38.9M-33.3% | $58.3M+997.0% | -$6.5M-54.8% | -$4.2M-54.6% | -$2.7M-90.1% | -$1.4M-676.1% | -$184K |
| Retained Earnings | -$75.0M-15.8% | -$64.8M-50.2% | -$43.1M-60.4% | -$26.9M-14.7% | -$23.4M-9.2% | -$21.5M-9.9% | -$19.5M-9.5% | -$17.9M |
PTHS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.1M-109.9% | -$6.3M+59.0% | -$15.3M-3311.5% | -$447K+29.2% | -$632K+5.7% | -$670K-277.1% | -$178K+94.0% | -$3.0M |
| Capital Expenditures | $194K | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Free Cash Flow | -$13.3M | N/A | N/A | N/A | -$632K | N/A | N/A | N/A |
| Investing Cash Flow | -$194K+97.6% | -$8.0M | N/A | N/A | $0 | N/A | N/A | N/A |
| Financing Cash Flow | $27.5M+52.7% | $18.0M-32.5% | $26.7M+7017.9% | $375K+50.0% | $250K+447.2% | -$72K+92.6% | -$972K-161.2% | $1.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | -$91K-222.2% | $74K | $0 |
PTHS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.7% | N/A | 68.7% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -120.0% | N/A | -207.4% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -93.9% | N/A | -219.3% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -29.2% | N/A | -27.9% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -7.0% | N/A | -12.8%+406.3pp | -419.1%-203.2pp | -216.0% | N/A | -79.2%-11.2pp | -68.1% |
| Current Ratio | 2.79+0.7 | 2.05+0.0 | 2.01+1.9 | 0.11-0.1 | 0.18-0.2 | 0.34-0.3 | 0.60-0.3 | 0.93 |
| Debt-to-Equity | 3.14+0.8 | 2.35+1.2 | 1.17+2.3 | -1.13+0.1 | -1.22+0.3 | -1.50+1.0 | -2.50+12.6 | -15.14 |
| FCF Margin | -122.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Pelthos Therapeutics's annual revenue?
Pelthos Therapeutics (PTHS) reported $16.8M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Pelthos Therapeutics profitable?
No, Pelthos Therapeutics (PTHS) reported a net income of -$43.3M in fiscal year 2025, with a net profit margin of -257.9%.
What is Pelthos Therapeutics's EBITDA?
Pelthos Therapeutics (PTHS) had EBITDA of -$30.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pelthos Therapeutics's gross margin?
Pelthos Therapeutics (PTHS) had a gross margin of 76.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pelthos Therapeutics's operating margin?
Pelthos Therapeutics (PTHS) had an operating margin of -193.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pelthos Therapeutics's net profit margin?
Pelthos Therapeutics (PTHS) had a net profit margin of -257.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Pelthos Therapeutics's return on equity (ROE)?
Pelthos Therapeutics (PTHS) has a return on equity of -111.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pelthos Therapeutics's free cash flow?
Pelthos Therapeutics (PTHS) generated -$22.7M in free cash flow during fiscal year 2025. This represents a -291.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pelthos Therapeutics's operating cash flow?
Pelthos Therapeutics (PTHS) generated -$22.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pelthos Therapeutics's total assets?
Pelthos Therapeutics (PTHS) had $130.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pelthos Therapeutics's capital expenditures?
Pelthos Therapeutics (PTHS) invested $99K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pelthos Therapeutics spend on research and development?
Pelthos Therapeutics (PTHS) invested $1.2M in research and development during fiscal year 2025.
What is Pelthos Therapeutics's current ratio?
Pelthos Therapeutics (PTHS) had a current ratio of 2.05 as of fiscal year 2025, which is generally considered healthy.
What is Pelthos Therapeutics's debt-to-equity ratio?
Pelthos Therapeutics (PTHS) had a debt-to-equity ratio of 2.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pelthos Therapeutics's return on assets (ROA)?
Pelthos Therapeutics (PTHS) had a return on assets of -33.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pelthos Therapeutics's cash runway?
Based on fiscal year 2025 data, Pelthos Therapeutics (PTHS) had $18.0M in cash against an annual operating cash burn of $22.6M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Pelthos Therapeutics's Piotroski F-Score?
Pelthos Therapeutics (PTHS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pelthos Therapeutics's earnings high quality?
Pelthos Therapeutics (PTHS) has an earnings quality ratio of 0.52x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Pelthos Therapeutics cover its interest payments?
Pelthos Therapeutics (PTHS) has an interest coverage ratio of -10.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Pelthos Therapeutics?
Pelthos Therapeutics (PTHS) scores 15 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.