What is Tectonic Therapeutic Inc's earnings per share (EPS)?

Tectonic Therapeutic Inc (TECX) reported diluted earnings per share of $-4.05 for fiscal year 2025. This represents a 40.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tectonic Therapeutic Inc Financials

TECX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Tectonic Therapeutic Inc (TECX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

Financial Health Signals

Piotroski F-Score Weak

3/9

Tectonic Therapeutic Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.81x

For every $1 of reported earnings, Tectonic Therapeutic Inc generates $0.81 in operating cash flow (-$60.1M OCF vs -$74.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-1333.9x

Tectonic Therapeutic Inc earns $-1333.9 in operating income for every $1 of interest expense (-$84.0M vs $63K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$82.7M

YoY-46.6%

Tectonic Therapeutic Inc's EBITDA was -$82.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 46.6% from the prior year.

Net Income

-$74.2M

YoY-27.9%

Tectonic Therapeutic Inc reported -$74.2M in net income in fiscal year 2025. This represents a decrease of 27.9% from the prior year.

EPS (Diluted)

$-4.05

YoY+40.7%

Tectonic Therapeutic Inc earned $-4.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 40.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$60.3M

YoY-1.8%

Tectonic Therapeutic Inc generated -$60.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1.8% from the prior year.

Cash & Debt

$253.8M

YoY+79.7%

5Y CAGR-0.5%

Tectonic Therapeutic Inc held $253.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.00

Tectonic Therapeutic Inc paid $0.00 per share in dividends in fiscal year 2025.

Shares Outstanding

19M

YoY+26.1%

Tectonic Therapeutic Inc had 19M shares outstanding in fiscal year 2025. This represents an increase of 26.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-29.5%

YoY+11.7pp

5Y CAGR+17.6pp

Tectonic Therapeutic Inc's ROE was -29.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 11.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$63.5M

YoY+53.5%

5Y CAGR-6.2%

Tectonic Therapeutic Inc invested $63.5M in research and development in fiscal year 2025. This represents an increase of 53.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$208K

YoY+33.3%

5Y CAGR-29.3%

Tectonic Therapeutic Inc invested $208K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 33.3% from the prior year.

TECX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$63.5M+53.5%	$41.4M+11.9%	$37.0M-48.8%	$72.2M-13.1%	$83.1M-4.7%	$87.2M
SG&A Expenses	$20.5M+23.4%	$16.7M+116.8%	$7.7M-76.9%	$33.2M-6.9%	$35.7M+8.3%	$33.0M
Operating Income	-$84.0M-44.9%	-$58.0M-29.9%	-$44.6M+57.7%	-$105.4M+11.3%	-$118.8M+1.2%	-$120.2M
Interest Expense	$63K-41.1%	$107K-94.4%	$1.9M+6.0%	$1.8M+790.6%	$203K	N/A
Income Tax	$1.2M	$0	$0	$0	N/A	N/A
Net Income	-$74.2M-27.9%	-$58.0M-35.4%	-$42.8M+59.6%	-$105.9M+11.1%	-$119.1M+0.5%	-$119.7M
EPS (Diluted)	$-4.05+40.7%	$-6.83	$-33.76	$-2.42+12.9%	$-2.78	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$16.9M-1.5%	$17.2M+31.8%	$13.0M	N/A	$14.3M+102.4%	$7.1M-34.6%	$10.8M
SG&A Expenses	N/A	$5.0M-3.6%	$5.1M-2.2%	$5.3M	N/A	$5.3M-46.3%	$9.9M+360.5%	$2.1M
Operating Income	N/A	-$21.9M+2.0%	-$22.3M-22.0%	-$18.3M	N/A	-$19.6M-71.9%	-$11.4M+11.9%	-$13.0M
Interest Expense	N/A	$14K-17.6%	$17K-15.0%	$20K	N/A	$25K-10.7%	$28K-9.7%	$31K
Income Tax	N/A	$0-100.0%	$976K	N/A	N/A	$0	$0	N/A
Net Income	N/A	-$19.0M+4.7%	-$20.0M-25.6%	-$15.9M	N/A	-$17.7M-39.8%	-$12.7M+16.8%	-$15.2M
EPS (Diluted)	N/A	$-1.02+4.7%	$-1.07-15.1%	$-0.93	N/A	$-1.20+72.4%	$-4.34	$-10.97

TECX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$261.0M+70.7%	$152.9M+288.1%	$39.4M-62.1%	$103.9M-49.0%	$203.8M-24.8%	$271.2M
Current Assets	$257.4M+75.2%	$146.9M+375.5%	$30.9M-69.1%	$100.0M-49.8%	$199.1M-25.5%	$267.2M
Cash & Equivalents	$253.8M+79.7%	$141.2M+390.9%	$28.8M-68.9%	$92.6M-51.2%	$189.6M-27.0%	$259.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.7M-20.0%	$12.1M-90.2%	$124.0M-17.1%	$149.6M+335.4%	$34.4M+103.4%	$16.9M
Current Liabilities	$9.7M-16.7%	$11.6M-71.6%	$40.9M+211.8%	$13.1M-32.3%	$19.4M+16.7%	$16.6M
Long-Term Debt	N/A	N/A	N/A	$15.0M0.0%	$15.0M	N/A
Total Equity	$251.3M+78.5%	$140.8M+266.3%	-$84.6M-85.4%	-$45.7M-126.9%	$169.5M-33.4%	$254.3M
Retained Earnings	-$222.7M-49.9%	-$148.6M-64.0%	-$90.6M+81.5%	-$489.4M-27.6%	-$383.5M-45.1%	-$264.4M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$261.0M-5.8%	$277.0M-6.2%	$295.3M-6.2%	$314.8M+105.9%	$152.9M-9.4%	$168.7M-13.0%	$193.9M+110.0%	$92.3M
Current Assets	$257.4M-5.8%	$273.2M-6.1%	$290.8M-6.1%	$309.6M+110.8%	$146.9M-9.7%	$162.6M-13.2%	$187.4M+104.0%	$91.8M
Cash & Equivalents	$253.8M-5.5%	$268.4M-6.6%	$287.4M-6.2%	$306.2M+116.8%	$141.2M-11.2%	$159.1M-14.1%	$185.1M+887.4%	$18.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.7M+2.5%	$9.5M-18.0%	$11.5M-16.3%	$13.8M+13.7%	$12.1M-33.9%	$18.4M-33.4%	$27.5M-85.6%	$191.9M
Current Liabilities	$9.7M+3.1%	$9.4M-17.5%	$11.4M-15.9%	$13.5M+16.4%	$11.6M-33.0%	$17.3M-33.4%	$26.0M+641.0%	$3.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$251.3M-6.1%	$267.5M-5.7%	$283.8M-5.7%	$301.0M+113.8%	$140.8M-6.4%	$150.4M-9.6%	$166.4M+267.1%	-$99.6M
Retained Earnings	-$222.7M-9.4%	-$203.5M-10.3%	-$184.5M-12.1%	-$164.5M-10.7%	-$148.6M-9.1%	-$136.2M-15.0%	-$118.5M+75.5%	-$484.1M

TECX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$60.1M-1.7%	-$59.1M-45.2%	-$40.7M+58.2%	-$97.2M+0.8%	-$98.0M+0.8%	-$98.8M
Capital Expenditures	$208K+33.3%	$156K-44.1%	$279K+4.5%	$267K-89.2%	$2.5M+109.1%	$1.2M
Free Cash Flow	-$60.3M-1.8%	-$59.2M-44.6%	-$41.0M+58.0%	-$97.5M+3.0%	-$100.5M-0.5%	-$100.0M
Investing Cash Flow	-$138K+11.5%	-$156K+44.1%	-$279K-4.5%	-$267K+89.2%	-$2.5M-109.1%	-$1.2M
Financing Cash Flow	$173.4M+1.0%	$171.7M+408.8%	$33.7M+12780.5%	$262K-99.1%	$30.4M-82.4%	$172.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$14.5M+18.8%	-$17.8M-21.0%	-$14.7M-12.5%	-$13.1M+22.2%	-$16.8M+14.2%	-$19.6M-46.5%	-$13.4M-44.3%	-$9.3M
Capital Expenditures	$0-100.0%	$181K	$0-100.0%	$27K+800.0%	$3K-98.0%	$153K+3925.0%	-$4K-200.0%	$4K
Free Cash Flow	-$14.5M+19.6%	-$18.0M-22.3%	-$14.7M-12.3%	-$13.1M+22.1%	-$16.8M+14.8%	-$19.8M-47.6%	-$13.4M-44.3%	-$9.3M
Investing Cash Flow	$0+100.0%	-$166K-401.8%	$55K+303.7%	-$27K-800.0%	-$3K+98.0%	-$153K-3925.0%	$4K+200.0%	-$4K
Financing Cash Flow	-$141K+69.1%	-$457K+89.0%	-$4.2M-102.3%	$178.1M+16762.5%	-$1.1M+83.0%	-$6.3M-103.5%	$179.7M+27006.9%	-$668K
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	N/A	N/A	N/A

TECX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-29.5%+11.7pp	-41.2%	N/A	N/A	-70.3%-23.2pp	-47.1%
Return on Assets	-28.4%+9.5pp	-37.9%+70.8pp	-108.7%-6.8pp	-101.9%-43.4pp	-58.4%-14.3pp	-44.1%
Current Ratio	26.63+14.0	12.65+11.9	0.76-6.9	7.62-2.7	10.27-5.8	16.09
Debt-to-Equity	0.04-0.0	0.09+1.6	-1.47-1.1	-0.33-0.4	0.09+0.0	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	-7.1%-0.1pp	-7.0%-1.8pp	-5.3%	N/A	-11.8%-4.2pp	-7.6%	N/A
Return on Assets	N/A	-6.9%-0.1pp	-6.8%-1.7pp	-5.1%	N/A	-10.5%-4.0pp	-6.5%+10.0pp	-16.5%
Current Ratio	26.63-2.5	29.15+3.6	25.60+2.7	22.92+10.3	12.65+3.3	9.39+2.2	7.21-19.0	26.17
Debt-to-Equity	0.040.0	0.040.0	0.040.0	0.05-0.0	0.09-0.0	0.12-0.0	0.17+2.1	-1.93
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Tectonic Therapeutic Inc profitable?

No, Tectonic Therapeutic Inc (TECX) reported a net income of -$74.2M in fiscal year 2025.

What is Tectonic Therapeutic Inc's EBITDA?

Tectonic Therapeutic Inc (TECX) had EBITDA of -$82.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Tectonic Therapeutic Inc's return on equity (ROE)?

Tectonic Therapeutic Inc (TECX) has a return on equity of -29.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tectonic Therapeutic Inc's free cash flow?

Tectonic Therapeutic Inc (TECX) generated -$60.3M in free cash flow during fiscal year 2025. This represents a -1.8% 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 Tectonic Therapeutic Inc's operating cash flow?

Tectonic Therapeutic Inc (TECX) generated -$60.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tectonic Therapeutic Inc's total assets?

Tectonic Therapeutic Inc (TECX) had $261.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Tectonic Therapeutic Inc's capital expenditures?

Tectonic Therapeutic Inc (TECX) invested $208K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Tectonic Therapeutic Inc spend on research and development?

Tectonic Therapeutic Inc (TECX) invested $63.5M in research and development during fiscal year 2025.

How many shares does Tectonic Therapeutic Inc have outstanding?

Tectonic Therapeutic Inc (TECX) had 19M shares outstanding as of fiscal year 2025.

What is Tectonic Therapeutic Inc's current ratio?

Tectonic Therapeutic Inc (TECX) had a current ratio of 26.63 as of fiscal year 2025, which is generally considered healthy.

What is Tectonic Therapeutic Inc's debt-to-equity ratio?

Tectonic Therapeutic Inc (TECX) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tectonic Therapeutic Inc's return on assets (ROA)?

Tectonic Therapeutic Inc (TECX) had a return on assets of -28.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tectonic Therapeutic Inc's cash runway?

Based on fiscal year 2025 data, Tectonic Therapeutic Inc (TECX) had $253.8M in cash against an annual operating cash burn of $60.1M. This gives an estimated cash runway of approximately 51 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 Tectonic Therapeutic Inc's Piotroski F-Score?

Tectonic Therapeutic Inc (TECX) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tectonic Therapeutic Inc's earnings high quality?

Tectonic Therapeutic Inc (TECX) has an earnings quality ratio of 0.81x, 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 Tectonic Therapeutic Inc cover its interest payments?

Tectonic Therapeutic Inc (TECX) has an interest coverage ratio of -1333.9x, 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.