TFA THERAPEUTICS INC (RAJAF) Financials
Newest figures come from the 20-F for FY2025, filed May 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RAJAF SEC filings page.
TFA THERAPEUTICS INC (RAJAF) reported $1.2M in revenue for fiscal year 2025, down 0.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Revenue is holding near $1.2M , but margin compression, renewed cash outflow, and negative equity show a financially constrained operating model.
Revenue stability from FY2024 to FY2025 coincided with gross margin falling from72.3% to61.1% ; the business kept sales broadly steady but converted less of each dollar into gross profit. The return from FY2023 profitability to losses in FY2024-FY2025, alongside operating cash flow moving from positive to negative, points to unstable earnings quality rather than a steady profit engine.
The balance sheet is increasingly financed by obligations: FY2025 liabilities exceeded assets, leaving negative equity of
Cash conversion is not tracking reported earnings: in FY2024, operating cash flow was
Financial Health Signals
TFA THERAPEUTICS INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
TFA THERAPEUTICS INC scores 116.71, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.0B) relative to total liabilities ($5.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
TFA THERAPEUTICS INC passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
TFA THERAPEUTICS INC reported a net loss of $155K while operations used $36K of cash. With neither figure positive, the ratio between the two carries no quality signal.
TFA THERAPEUTICS INC reported an operating loss of $141K against $19K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
TFA THERAPEUTICS INC held $3K in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
RAJAF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, Diluted Shares (Avg).
RAJAF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2420-F | Q4'2320-F/A | Q3'2310-Q | Q4'2220-F/A | Q4'2110-K | Q4'2010-K |
|---|---|---|---|---|---|---|---|
| Total Assets | $4.7M+0.7% | $4.6M+37.9% | $3.4M+59.2% | $1.8M | $2.1M-35.5% | $3.3M+15.5% | $2.8M |
| Current Assets | $998K+65.8% | $602K+83.9% | $327K-34.8% | $52K | $502K-55.6% | $1.1M+19.2% | $949K |
| Cash & Equivalents | $3K-91.4% | $37K+61.4% | $23K+248.6% | $17K | $7K-93.4% | $100K+33806.1% | $294 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $674K | N/A | N/A | $4K | $314K-34.7% | $480K-29.9% | $685K |
| Accounts Receivable | N/A | $305 | N/A | N/A | $150K-58.2% | $358K | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $5.2M+3.9% | $5.0M+42.7% | $3.5M+14.6% | $2.0M | $3.1M-13.6% | $3.5M+24.7% | $2.8M |
| Current Liabilities | $5.2M+4.1% | $5.0M+68.1% | $3.0M+17.7% | $1.5M | $2.5M-13.7% | $2.9M+21.1% | $2.4M |
| Non-Current Liabilities | $0-100.0% | $13K-97.7% | $537K+0.4% | $515K | $535K-13.3% | $617K+45.2% | $425K |
| Long-Term Debt | N/A | N/A | $431K+4.1% | $101K | $414K | N/A | N/A |
| Total Equity | -$535K-42.3% | -$376K-147.4% | -$152K+84.0% | -$183K | -$951K-244.9% | -$276K-2052.8% | -$13K |
| Retained Earnings | -$854K-22.1% | -$699K-47.8% | -$473K+61.4% | -$477K | -$1.2M-142.7% | -$504K-3643.6% | -$13K |
Not reported in any period shown, so not listed: Goodwill.
RAJAF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2420-F | Q4'2320-F/A | Q3'2310-Q | Q4'2220-F/A | Q4'2110-K | Q4'2010-K |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | -$1.2M-1012.4% | N/A | -$111K | N/A | N/A |
| Depreciation & Amortization | N/A | N/A | $56K | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | -$1.2M | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | -$2.5M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | $1.2M+83706.5% | N/A | -$1K | N/A | N/A |
| Financing Cash Flow | N/A | N/A | $48K+589.1% | N/A | $7K | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
RAJAF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$535K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.19), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where TFA THERAPEUTICS INC Ranks
Frequently Asked Questions
What is TFA THERAPEUTICS INC's annual revenue?
TFA THERAPEUTICS INC (RAJAF) reported $1.2M in total revenue for fiscal year 2025. This represents a -0.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is TFA THERAPEUTICS INC's revenue growing?
TFA THERAPEUTICS INC (RAJAF) revenue declined by 0.6% year-over-year, from $1.3M to $1.2M in fiscal year 2025.
Is TFA THERAPEUTICS INC profitable?
No, TFA THERAPEUTICS INC (RAJAF) reported a net income of -$155K in fiscal year 2025, with a net profit margin of -12.4%.
What is TFA THERAPEUTICS INC's EBITDA?
TFA THERAPEUTICS INC (RAJAF) had EBITDA of -$6K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is TFA THERAPEUTICS INC's gross margin?
TFA THERAPEUTICS INC (RAJAF) had a gross margin of 61.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is TFA THERAPEUTICS INC's operating margin?
TFA THERAPEUTICS INC (RAJAF) had an operating margin of -11.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is TFA THERAPEUTICS INC's net profit margin?
TFA THERAPEUTICS INC (RAJAF) had a net profit margin of -12.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is TFA THERAPEUTICS INC's operating cash flow?
TFA THERAPEUTICS INC (RAJAF) recorded an outflow of $36K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are TFA THERAPEUTICS INC's total assets?
TFA THERAPEUTICS INC (RAJAF) had $4.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is TFA THERAPEUTICS INC's current ratio?
TFA THERAPEUTICS INC (RAJAF) had a current ratio of 0.19 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is TFA THERAPEUTICS INC's return on assets (ROA)?
TFA THERAPEUTICS INC (RAJAF) had a return on assets of -3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does TFA THERAPEUTICS INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, TFA THERAPEUTICS INC (RAJAF) held $3K in cash, cash equivalents and investments, and reported an operating cash outflow of $36K over that year. Dividing the one by the other, the reported balance equals about 1 month of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is TFA THERAPEUTICS INC's debt-to-equity ratio negative or not reported?
TFA THERAPEUTICS INC (RAJAF) has negative shareholder equity of -$535K as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is TFA THERAPEUTICS INC's Altman Z-Score?
TFA THERAPEUTICS INC (RAJAF) has an Altman Z-Score of 116.71, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is TFA THERAPEUTICS INC's Piotroski F-Score?
TFA THERAPEUTICS INC (RAJAF) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 TFA THERAPEUTICS INC's earnings high quality?
TFA THERAPEUTICS INC (RAJAF) reported a net loss of $155K while operations used $36K of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 TFA THERAPEUTICS INC cover its interest payments?
TFA THERAPEUTICS INC (RAJAF) reported an operating loss of $141K against $19K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.