Theratechnologies (THTX) Financials
Newest figures come from the 10-K for FY2024, filed Feb 26, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the THTX SEC filings page.
Theratechnologies Inc. (THTX) reported $85.9M in revenue for fiscal year 2024, up 5.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 grew modestly while operating profit turned positive and cash flow recovered without new capital spending, but equity remained negative.
The key shift is that operating profitability improved faster than sales: revenue increased5.0% while operating margin rose22.5 percentage points from FY2023 to FY2024, yet the company still reported a net loss of$8.3M . That split means the core reported operations moved into the black, but financing, tax, or other below-operating items still prevented bottom-line profitability; the statements do not isolate the full bridge.
Cash conversion changed materially: operating cash flow and free cash flow moved from a
The balance sheet remains liability-heavy: liabilities equaled
Financial Health Signals
Theratechnologies 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.
Theratechnologies Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Theratechnologies Inc. reported a net loss of $8.3M while generating $2.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Theratechnologies Inc. generated $85.9M in revenue in fiscal year 2024. This represents an increase of 5.0% from the prior year.
Theratechnologies Inc. reported a net loss of $8.3M in fiscal year 2024. The change from the prior year is not meaningful, because that figure was zero or negative.
Theratechnologies Inc. earned -$0.17 per diluted share (EPS) in fiscal year 2024.
Not reported for fiscal year 2024.
Cash & Balance Sheet
Theratechnologies Inc. generated $2.4M in free cash flow in fiscal year 2024, representing cash available after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
Theratechnologies Inc. held $15.9M in cash against $40.9M in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Theratechnologies Inc.'s gross margin was 76.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.
Theratechnologies Inc.'s operating margin was 9.5% in fiscal year 2024, reflecting core business profitability. This is up 22.5 percentage points from the prior year.
Theratechnologies Inc.'s net profit margin was -9.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 19.6 percentage points from the prior year.
Not reported for fiscal year 2024.
Capital Allocation
Theratechnologies Inc. reported no capital expenditure in fiscal year 2024. This represents a decrease of 100.0% from the prior year.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
THTX 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.
| Metric | FY2410-K | FY2310-K | FY2210-K | FY2110-K | FY2010-K | FY1910-K | FY1810-K |
|---|---|---|---|---|---|---|---|
| Revenue | $85.9M+5.0% | $81.8M+2.1% | $80.1M+14.7% | $69.8M+5.7% | $66.1M | N/A | $45.2M |
| Cost of Revenue | $20.4M+4.1% | $19.6M-17.6% | $23.8M+29.7% | $18.4M-12.4% | $21.0M | N/A | $9.4M |
| Gross Profit | $65.4M+5.3% | $62.1M+10.5% | $56.2M+9.3% | $51.4M+14.1% | $45.1M | N/A | $35.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | $18.0M+66.2% | $10.8M+35.6% | $8.0M |
| Operating Income | $8.2Mn/m | -$10.6Mn/m | -$39.9Mn/m | -$25.2Mn/m | -$18.0Mn/m | -$8.5Mn/m | -$3.6M |
| Income Tax | $2.0M+376.2% | $421K-5.0% | $443K+603.2% | $63K+293.8% | $16K | N/A | -$1.3M |
| Net Income | -$8.3Mn/m | -$24.0Mn/m | -$47.2Mn/m | -$31.7Mn/m | -$22.7Mn/m | -$12.5Mn/m | -$4.7M |
| EPS (Basic) | -$0.17 | -$0.91 | -$1.98 | -$137.00 | N/A | N/A | N/A |
| EPS (Diluted) | -$0.17 | -$0.91 | -$1.98 | -$137.00 | N/A | N/A | N/A |
| Diluted Shares (Avg) | 49M | 26M | 24M | 23M | 77M+0.1% | 77M+1.3% | 76M |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA, Interest Expense.
THTX 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 | FY2410-K | FY2310-K | FY2210-K | FY2110-K | FY2010-K | FY1910-K | FY1810-K |
|---|---|---|---|---|---|---|---|
| Total Assets | $53.3M-31.4% | $77.8M-16.6% | $93.3M-21.8% | $119.2M+19.0% | $100.1M+3290.0% | $3.0M-97.3% | $111.1M |
| Current Assets | $44.0M-30.5% | $63.3M-13.7% | $73.4M-20.2% | $91.9M+41.8% | $64.8M | N/A | $73.6M |
| Cash & Equivalents | $15.9M-53.4% | $34.1M+42.9% | $23.9M+16.9% | $20.4M+60.2% | $12.7M | N/A | $39.0M |
| Accounts Receivable | $15.2M+16.9% | $13.0M+8.1% | $12.0M+14.9% | $10.5M-15.6% | $12.4M | N/A | $11.0M |
| Total Liabilities | $78.6M-20.3% | $98.6M-14.8% | $115.8M+14.2% | $101.5M+4.7% | $96.9Mn/m | -$21.9M-128.8% | $76.1M |
| Current Liabilities | $36.9M-22.1% | $47.3M-58.6% | $114.3M+153.5% | $45.1M+7.5% | $41.9M+12.9% | $37.1M+38.2% | $26.9M |
| Non-Current Liabilities | $41.8M-18.7% | $51.3M+3208.3% | $1.6M-97.2% | $56.4M+2.5% | $55.0M-1.0% | $55.6M+12.9% | $49.2M |
| Long-Term Debt | $40.9M-19.2% | $50.7M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$25.3Mn/m | -$20.9Mn/m | -$22.6M-227.1% | $17.8M+450.9% | $3.2M-87.0% | $24.8M-29.1% | $35.0M |
| Retained Earnings | -$416.9Mn/m | -$408.7Mn/m | -$382.6Mn/m | -$335.2Mn/m | -$300.1Mn/m | $0n/m | -$265.0M |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments, Goodwill.
THTX 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 | FY2410-K | FY2310-K | FY2210-K | FY2110-K | FY2010-K | FY1910-K | FY1810-K |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.4Mn/m | -$5.7Mn/m | -$14.7Mn/m | -$17.5Mn/m | -$13.6Mn/m | -$3.4M-3785.9% | $92K |
| Capital Expenditures | $0-100.0% | $318K-67.7% | $985K+675.6% | $127K+296.9% | $32K-97.4% | $1.2M+4760.0% | $25K |
| Free Cash Flow | $2.4Mn/m | -$6.0Mn/m | -$15.7Mn/m | -$17.6Mn/m | -$13.6Mn/m | -$4.6M-6974.6% | $67K |
| Investing Cash Flow | $942K-15.0% | $1.1M-87.2% | $8.7Mn/m | -$12.7M-366.7% | $4.8Mn/m | -$130Kn/m | -$9.9M |
| Financing Cash Flow | -$21.5M-245.4% | $14.8M+53.0% | $9.7M-74.5% | $37.9Mn/m | -$7.2Mn/m | -$6.8M-114.3% | $47.5M |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid, Share Buybacks.
THTX 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.
| Metric | FY2410-K | FY2310-K | FY2210-K | FY2110-K | FY2010-K | FY1910-K | FY1810-K |
|---|---|---|---|---|---|---|---|
| Gross Margin | 76.2%+0.2pp | 76.0%+5.8pp | 70.2%-3.5pp | 73.7%+5.4pp | 68.3% | N/A | 79.3% |
| Operating Margin | 9.5%+22.5pp | -13.0%+36.9pp | -49.9%-13.7pp | -36.1%-9.0pp | -27.2% | N/A | -7.9% |
| Net Margin | -9.7%+19.6pp | -29.3%+29.7pp | -59.0%-13.6pp | -45.4%-11.1pp | -34.3% | N/A | -10.4% |
| Return on Equity | N/A | N/A | N/A | -178.6%+524.4pp | -703.1%-652.8pp | -50.3%-36.9pp | -13.4% |
| Return on Assets | -15.6%+15.2pp | -30.8%+19.8pp | -50.6%-24.0pp | -26.6%-4.0pp | -22.6%+400.4pp | -423.0%-418.8pp | -4.2% |
| Current Ratio | 1.19-0.1x | 1.34+0.7x | 0.64-1.4x | 2.04+0.5x | 1.55 | N/A | 2.74 |
| Liabilities-to-Equity | N/A | N/A | N/A | 5.71-24.3x | 30.06 | N/A | 2.17 |
| Asset Turnover | 1.61+0.6x | 1.05+0.2x | 0.86+0.3x | 0.59-0.1x | 0.66 | N/A | 0.41 |
| FCF Margin | 2.8%+10.1pp | -7.3%+12.3pp | -19.6%+5.7pp | -25.3%-4.7pp | -20.6% | N/A | 0.1% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Note: Shareholder equity is negative (-$25.3M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Theratechnologies Inc. THTX | FY2024 | $85.9M | -$8.3M | -9.7% | N/A | — |
| Greenwich LifeSciences, Inc. GLSI | FY2025 | N/A | -$19.4M | N/A | $268.8M | — |
| Coherus Oncology, Inc. CHRS | FY2025 | $42.2M | $168.0M | N/A | $179.2M | 31/100 |
| Nuvectis Pharma, Inc. NVCT | FY2025 | N/A | -$26.4M | N/A | $599.3M | — |
| Instil Bio, Inc. TIL | FY2025 | N/A | -$71.4M | N/A | $46.0M | — |
Where Theratechnologies Inc. Ranks
Frequently Asked Questions
What is Theratechnologies Inc.'s annual revenue?
Theratechnologies Inc. (THTX) reported $85.9M in total revenue for fiscal year 2024. This represents a 5.0% 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 Theratechnologies Inc.'s revenue growing?
Theratechnologies Inc. (THTX) revenue grew by 5.0% year-over-year, from $81.8M to $85.9M in fiscal year 2024.
Is Theratechnologies Inc. profitable?
No, Theratechnologies Inc. (THTX) reported a net loss of $8.3M in fiscal year 2024, with a net profit margin of -9.7%.
How much debt does Theratechnologies Inc. have?
As of fiscal year 2024, Theratechnologies Inc. (THTX) had $15.9M in cash and equivalents against $40.9M in long-term debt.
What is Theratechnologies Inc.'s gross margin?
Theratechnologies Inc. (THTX) had a gross margin of 76.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Theratechnologies Inc.'s operating margin?
Theratechnologies Inc. (THTX) had an operating margin of 9.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Theratechnologies Inc.'s net profit margin?
Theratechnologies Inc. (THTX) had a net profit margin of -9.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Theratechnologies Inc.'s free cash flow?
Theratechnologies Inc. (THTX) generated $2.4M in free cash flow during fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 Theratechnologies Inc.'s operating cash flow?
Theratechnologies Inc. (THTX) generated $2.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Theratechnologies Inc.'s total assets?
Theratechnologies Inc. (THTX) had $53.3M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Theratechnologies Inc.'s capital expenditures?
Theratechnologies Inc. (THTX) reported no capital expenditure during fiscal year 2024.
What is Theratechnologies Inc.'s current ratio?
Theratechnologies Inc. (THTX) had a current ratio of 1.19 as of fiscal year 2024, which is considered adequate.
What is Theratechnologies Inc.'s return on assets (ROA)?
Theratechnologies Inc. (THTX) had a return on assets of -15.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Theratechnologies Inc.'s debt-to-equity ratio negative or not reported?
Theratechnologies Inc. (THTX) has negative shareholder equity of -$25.3M as of fiscal year 2024, so no debt-to-equity or liabilities-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 Theratechnologies Inc.'s Piotroski F-Score?
Theratechnologies Inc. (THTX) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 Theratechnologies Inc.'s earnings high quality?
Theratechnologies Inc. (THTX) reported a net loss of $8.3M while generating $2.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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.