Tectonic Therapeutic Inc Financials
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).
Equity-funded R&D burn defines the business, while a cash-heavy balance sheet keeps operating losses from becoming a solvency problem.
Between FY2024 and FY2025, R&D spending rose by$22.1M and operating loss widened by$26.0M , yet operating cash burn stayed near$60M ; the expense ramp hit accounting results much harder than near-term cash use. At the same time, a$173.4M financing inflow pushed cash to$253.8M while liabilities fell to$9.7M , showing the company is rebuilding capacity through equity capital rather than borrowing.
Capex of just
With cash of
Financial Health Signals
Tectonic Therapeutic 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.
Tectonic Therapeutic Inc reported an operating loss of $84.0M against $63K 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
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.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Tectonic Therapeutic Inc recorded an outflow of $60.3M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 1.8% from the prior year.
Tectonic Therapeutic Inc held $253.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Tectonic Therapeutic Inc paid $0.00 per share in dividends in fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
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.
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.
Not reported for fiscal year 2025.
TECX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expenses | N/A | $63.5M+53.5% | $41.4M+11.9% | $37.0M-48.8% | $72.2M-13.1% | $83.1M-4.7% | $87.2M+58.7% | $55.0M+56.6% | $35.1M+131.0% | $15.2M |
| SG&A Expenses | N/A | $20.5M+23.4% | $16.7M+116.8% | $7.7M-76.9% | $33.2M-6.9% | $35.7M+8.3% | $33.0M+58.3% | $20.8M+86.9% | $11.1M+248.9% | $3.2M |
| Operating Income | N/A | -$84.0M-44.9% | -$58.0M-29.9% | -$44.6M+57.7% | -$105.4M+11.3% | -$118.8M+1.2% | -$120.2M-58.6% | -$75.8M-63.9% | -$46.2M-151.5% | -$18.4M |
| Interest Expense | N/A | $63K-41.1% | $107K-94.4% | $1.9M+6.0% | $1.8M+790.6% | $203K | N/A | N/A | N/A | N/A |
| Income Tax | N/A | $1.2M | $0 | $0 | $0 | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | -$105.9M+11.1% | -$119.1M+0.5% | -$119.7M-64.1% | -$73.0M-57.4% | -$46.4M-148.6% | -$18.6M |
| EPS (Diluted) | — | -$4.05+40.7% | -$6.83 | -$33.76 | -$2.42+12.9% | -$2.78 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
TECX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $261.0M+70.7% | $152.9M+288.1% | $39.4M-62.1% | $103.9M-49.0% | $203.8M-24.8% | $271.2M+35.3% | $200.5M+50.2% | $133.5M+1800.9% | $7.0M |
| Current Assets | $257.4M+75.2% | $146.9M+375.5% | $30.9M-69.1% | $100.0M-49.8% | $199.1M-25.5% | $267.2M+36.6% | $195.7M+50.5% | $130.0M+1961.2% | $6.3M |
| Cash & Equivalents | $253.8M+79.7% | $141.2M+390.9% | $28.8M-68.9% | $92.6M-51.2% | $189.6M-27.0% | $259.7M+38.8% | $187.0M+48.1% | $126.3M+2018.1% | $6.0M |
| Total Liabilities | $9.7M-20.0% | $12.1M-90.2% | $124.0M-17.1% | $149.6M+335.4% | $34.4M+103.4% | $16.9M+16.5% | $14.5M+28.4% | $11.3M-62.5% | $30.2M |
| Current Liabilities | $9.7M-16.7% | $11.6M-71.6% | $40.9M+211.8% | $13.1M-32.3% | $19.4M+16.7% | $16.6M+18.5% | $14.0M+32.2% | $10.6M+304.0% | $2.6M |
| Long-Term Debt | N/A | N/A | N/A | $15.0M0.0% | $15.0M | N/A | N/A | N/A | 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+36.7% | $186.0M+52.2% | $122.2M+628.1% | -$23.1M |
| Retained Earnings | -$222.7M-49.9% | -$148.6M-64.0% | -$90.6M+81.5% | -$489.4M-27.6% | -$383.5M-45.1% | -$264.4M-82.7% | -$144.7M-101.7% | -$71.7M-205.6% | -$23.5M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
TECX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$72.1M | -$60.1M-1.7% | -$59.1M-45.2% | -$40.7M+58.2% | -$97.2M+0.8% | -$98.0M+0.8% | -$98.8M-46.0% | -$67.7M-79.7% | -$37.6M-129.8% | -$16.4M |
| Capital Expenditures | $279K | $208K+33.3% | $156K-44.1% | $279K+4.5% | $267K-89.2% | $2.5M+109.1% | $1.2M-25.7% | $1.6M-13.5% | $1.8M+378.3% | $383K |
| Free Cash Flow | -$72.4M | -$60.3M-1.8% | -$59.2M-44.6% | -$41.0M+58.0% | -$97.5M+3.0% | -$100.5M-0.5% | -$100.0M-44.4% | -$69.3M-75.4% | -$39.5M-135.5% | -$16.8M |
| Investing Cash Flow | -$244K | -$138K+11.5% | -$156K+44.1% | -$279K-4.5% | -$267K+89.2% | -$2.5M-109.1% | -$1.2M+25.7% | -$1.6M+13.5% | -$1.8M-378.3% | -$383K |
| Financing Cash Flow | $11.9M | $173.4M+1.0% | $171.7M+408.8% | $33.7M+12780.5% | $262K-99.1% | $30.4M-82.4% | $172.6M+32.8% | $130.0M-18.9% | $160.3M+822.7% | $17.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
TECX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Return on Equity | N/A | N/A | N/A | N/A | -70.3%-23.2pp | -47.1%-7.8pp | -39.2%-1.3pp | -37.9% | N/A |
| Return on Assets | N/A | N/A | N/A | -101.9%-43.4pp | -58.4%-14.3pp | -44.1%-7.8pp | -36.4%-1.7pp | -34.7%+230.8pp | -265.6% |
| Current Ratio | 26.63+14.0x | 12.65+11.9x | 0.76-6.9x | 7.62-2.7x | 10.27-5.8x | 16.09+2.1x | 13.96+1.7x | 12.26+9.9x | 2.40 |
| Debt-to-Equity | 0.040.0x | 0.09 | N/A | N/A | 0.090.0x | 0.070.0x | 0.080.0x | 0.09 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Tectonic Therapeutic Inc Ranks
Frequently Asked Questions
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 free cash flow?
Tectonic Therapeutic Inc (TECX) recorded an outflow of $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) recorded an outflow of $60.1M in operating cash flow during fiscal year 2025, representing cash used by 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.
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 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.
Can Tectonic Therapeutic Inc cover its interest payments?
Tectonic Therapeutic Inc (TECX) reported an operating loss of $84.0M against $63K 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.