Theratechnologies Inc Financials

THTX

Source SEC Filings (10-K/10-Q) Data as of Nov 30, 2024 Currency USD FYE November

This page shows Theratechnologies Inc (THTX) financial statements, including the 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).

Rhea AI THTX FY2024 2026-04-22

Losses are shrinking faster than the balance sheet is healing, with cash generation finally turning positive in FY2024.

Across FY2022-FY2024, revenue added only about 7.3%, which is too small to explain the turnaround by scale alone. With operating cash flow moving from -$14.7M to $2.4M, the operating model became materially less cash-hungry even before the balance sheet was repaired.

The move from -$6.0M of free cash outflow in FY2023 to $2.4M of free cash generation in FY2024 matters because earnings quality improved: the company was no longer burning cash while reporting only a modest improvement in sales. That makes FY2024 look more like an operational reset than a revenue-driven step change.

Even after turning cash-positive, cash on hand fell from $34.1M to $15.9M, showing that other cash demands still outweighed what the business generated internally. The strain is also not mainly traditional debt leverage—long-term debt was only $791K while equity stayed at -$25.3M—so the issue is the thin asset cushion under total obligations.

Financial Health Signals

Financial Health Score 58/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Theratechnologies Inc'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.

Cash Runway

Dilution

Revenue Progress

Burn Trend

Balance Sheet

Piotroski F-Score Partial

5/8

Theratechnologies Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.29x

For every $1 of reported earnings, Theratechnologies Inc generates $-0.29 in operating cash flow ($2.4M OCF vs -$8.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$85.9M

YoY+5.0%

Theratechnologies Inc generated $85.9M in revenue in fiscal year 2024. This represents an increase of 5.0% from the prior year.

EBITDA

N/A

Net Income

-$8.3M

YoY+65.3%

Theratechnologies Inc reported -$8.3M in net income in fiscal year 2024. This represents an increase of 65.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$2.4M

YoY+139.7%

Theratechnologies Inc generated $2.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 139.7% from the prior year.

Cash & Debt

$15.9M

YoY-53.4%

Theratechnologies Inc held $15.9M in cash against $791K in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

46M

YoY+0.0%

5Y CAGR-9.8%

Theratechnologies Inc had 46M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-9.7%

YoY+19.6pp

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.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

YoY-100.0%

Theratechnologies Inc invested $0 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

THTX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$85.9M+5.0%	$81.8M+2.1%	$80.1M+14.7%	$69.8M+5.7%	$66.1M	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	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$2.0M+376.2%	$421K-5.0%	$443K+603.2%	$63K+293.8%	$16K	N/A
Net Income	-$8.3M+65.3%	-$24.0M+49.3%	-$47.2M-48.9%	-$31.7M-40.0%	-$22.7M-81.4%	-$12.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q1'20	Q4'18	Q1'18
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

THTX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$53.3M-31.4%	$77.8M-16.6%	$93.3M-21.8%	$119.2M+19.0%	$100.1M+3290.0%	$3.0M
Current Assets	$44.0M-30.5%	$63.3M-13.7%	$73.4M-20.2%	$91.9M+41.8%	$64.8M	N/A
Cash & Equivalents	$15.9M-53.4%	$34.1M+42.9%	$23.9M+16.9%	$20.4M+60.2%	$12.7M	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$15.2M+16.9%	$13.0M+8.1%	$12.0M+14.9%	$10.5M-15.6%	$12.4M	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$78.6M-20.3%	$98.6M-14.8%	$115.8M+14.2%	$101.5M+4.7%	$96.9M+543.0%	-$21.9M
Current Liabilities	$36.9M-22.1%	$47.3M-58.6%	$114.3M+153.5%	$45.1M+7.5%	$41.9M+12.9%	$37.1M
Long-Term Debt	$791K+38.0%	$573K-60.4%	$1.4M-29.6%	$2.1M-19.6%	$2.6M	N/A
Total Equity	-$25.3M-21.1%	-$20.9M+7.5%	-$22.6M-227.1%	$17.8M+450.9%	$3.2M-87.0%	$24.8M
Retained Earnings	-$416.9M-2.0%	-$408.7M-6.8%	-$382.6M-14.1%	-$335.2M-11.7%	-$300.1M	$0

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q1'20	Q4'18	Q1'18
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+87.8%	$59.2M
Current Assets	$44.0M-30.5%	$63.3M-13.7%	$73.4M-20.2%	$91.9M+41.8%	$64.8M	N/A	$73.6M+112.8%	$34.6M
Cash & Equivalents	$15.9M-53.4%	$34.1M+42.9%	$23.9M+16.9%	$20.4M+60.2%	$12.7M	N/A	$39.0M+2756.9%	$1.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$15.2M+16.9%	$13.0M+8.1%	$12.0M+14.9%	$10.5M-15.6%	$12.4M	N/A	$11.0M+45.0%	$7.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$78.6M-20.3%	$98.6M-14.8%	$115.8M+14.2%	$101.5M+4.7%	$96.9M+543.0%	-$21.9M-128.8%	$76.1M+195.8%	$25.7M
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+21.0%	$22.2M
Long-Term Debt	$791K+38.0%	$573K-60.4%	$1.4M-29.6%	$2.1M-19.6%	$2.6M	N/A	N/A	N/A
Total Equity	-$25.3M-21.1%	-$20.9M+7.5%	-$22.6M-227.1%	$17.8M+450.9%	$3.2M-87.0%	$24.8M-29.1%	$35.0M+4.7%	$33.4M
Retained Earnings	-$416.9M-2.0%	-$408.7M-6.8%	-$382.6M-14.1%	-$335.2M-11.7%	-$300.1M	$0+100.0%	-$265.0M-1.7%	-$260.6M

THTX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$2.4M+141.9%	-$5.7M+61.4%	-$14.7M+16.1%	-$17.5M-29.1%	-$13.6M-299.7%	-$3.4M
Capital Expenditures	$0-100.0%	$318K-67.7%	$985K+675.6%	$127K+296.9%	$32K-97.4%	$1.2M
Free Cash Flow	$2.4M+139.7%	-$6.0M+61.8%	-$15.7M+11.1%	-$17.6M-29.8%	-$13.6M-195.0%	-$4.6M
Investing Cash Flow	$942K-15.0%	$1.1M-87.2%	$8.7M+168.2%	-$12.7M-366.7%	$4.8M+3773.8%	-$130K
Financing Cash Flow	-$21.5M-245.4%	$14.8M+53.0%	$9.7M-74.5%	$37.9M+623.8%	-$7.2M-6.2%	-$6.8M
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	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q1'20	Q4'18	Q1'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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

THTX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
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	-9.7%+19.6pp	-29.3%+29.7pp	-59.0%-13.6pp	-45.4%-11.1pp	-34.3%	N/A
Return on Equity	N/A	N/A	N/A	-178.6%+524.4pp	-703.1%-652.8pp	-50.3%
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%
Current Ratio	1.19-0.1	1.34+0.7	0.64-1.4	2.04+0.5	1.55	N/A
Debt-to-Equity	-0.030.0	-0.03+0.0	-0.06-0.2	0.12-0.7	0.79+1.7	-0.88
FCF Margin	2.8%+10.1pp	-7.3%+12.3pp	-19.6%+5.7pp	-25.3%-4.7pp	-20.6%	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q1'20	Q4'18	Q1'18
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.19-0.1	1.34+0.7	0.64-1.4	2.04+0.5	1.55	N/A	2.74+1.2	1.56
Debt-to-Equity	-0.030.0	-0.03+0.0	-0.06-0.2	0.12-0.7	0.79+1.7	-0.88-3.1	2.17+1.4	0.77
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$25.3M), 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.

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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% year-over-year, from $81.8M to $85.9M in fiscal year 2024.

Is Theratechnologies Inc profitable?

No, Theratechnologies Inc (THTX) reported a net income 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 $791K in long-term debt.

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. This represents a 139.7% 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 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) invested $0 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Theratechnologies Inc have outstanding?

Theratechnologies Inc (THTX) had 46M shares outstanding as of 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 debt-to-equity ratio?

Theratechnologies Inc (THTX) had a debt-to-equity ratio of -0.03 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

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 unusual?

Theratechnologies Inc (THTX) has negative shareholder equity of -$25.3M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 5 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 Theratechnologies Inc's earnings high quality?

Theratechnologies Inc (THTX) has an earnings quality ratio of -0.29x, considered mixed quality. 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.

How financially healthy is Theratechnologies Inc?

Theratechnologies Inc (THTX) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.