Tivic Health Systems, Inc. (TIVC) Financials
Newest figures come from the 10-K for Q1 FY2026, filed May 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TIVC SEC filings page.
This page shows Tivic Health Systems, Inc. (TIVC) financial statements, including the 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).
Development-stage economics remain dominant: spending accelerated, losses widened, and FY2025 financing materially rebuilt the balance sheet.
R&D investment more than doubled from$1.3M in FY2024 to$3.1M in FY2025, while operating cash flow reached-$7.0M . In FY2024, net loss and operating cash flow were nearly aligned, indicating that reported losses largely represented cash use; the wider FY2025 gap points to a greater non-cash or working-capital component.
The balance sheet changed financing shape, not merely size: total assets expanded from
Sales remain small relative to development spending: FY2024 revenue was
Financial Health Signals
Tivic Health Systems, 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.
Tivic Health Systems, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Tivic Health Systems, Inc. reported a net loss of $8.9M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Tivic Health Systems, Inc. reported an operating loss of $7.9M against $146K 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
Tivic Health Systems, Inc.'s EBITDA was -$5.6M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 309.2% from the same quarter a year earlier.
Tivic Health Systems, Inc. reported -$6.2M in net income in Q1 2026. This represents a decrease of 312.9% from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
Cash & Balance Sheet
Tivic Health Systems, Inc. recorded an outflow of $5.0M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 464.5% from the same quarter a year earlier. Against the prior quarter it is down 117.0%.
Tivic Health Systems, Inc. held $7.2M in cash against $16.3M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Tivic Health Systems, Inc.'s ROE was -56.1% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 6.6 percentage points from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Capital Allocation
Tivic Health Systems, Inc. invested $1.9M in research and development in Q1 2026. This represents an increase of 453.4% from the same quarter a year earlier.
Tivic Health Systems, Inc. invested $7K in capex in Q1 2026, funding long-term assets and infrastructure. Against the prior quarter it is down 72.0%.
Not reported for Q1 2026.
TIVC 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 | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $146K+15.9% | $86K-38.6% | $70K-79.0% | $180K-49.6% | $126K-55.3% | $140K-13.0% |
| Cost of Revenue | N/A | N/A | $291K+254.9% | $32K-70.9% | $20K-88.0% | $419K+19.0% | $82K-52.9% | $110K+10.0% |
| Gross Profit | N/A | N/A | -$145K-429.5% | $54K+80.0% | $50K-70.1% | -$239K-4880.0% | $44K-59.3% | $30K-50.8% |
| R&D Expenses | $1.9M+453.4% | N/A | $858K+103.3% | $655K+116.9% | $335K+30.9% | $333K-7.5% | $422K+25.2% | $302K-35.5% |
| SG&A Expenses | $3.8M+262.8% | N/A | $1.1M+30.0% | $907K+15.2% | $1.0M+17.5% | $670K-41.9% | $819K-22.1% | $787K-37.8% |
| Operating Income | -$5.6M-309.2% | N/A | -$2.5M-73.5% | -$1.9M-52.8% | -$1.4M+7.0% | -$298K+86.7% | -$1.4M+18.7% | -$1.3M+40.4% |
| EBITDA | -$5.6M-309.2% | N/A | -$2.5M-73.6% | -$1.9M-52.8% | -$1.4M+7.0% | -$298K+86.7% | -$1.4M+18.7% | -$1.3M+40.4% |
| Interest Expense | $648K | N/A | N/A | $3K | $0 | N/A | N/A | N/A |
| Net Income | -$6.2M-312.9% | N/A | -$2.6M-81.4% | -$1.9M-52.5% | -$1.5M-1.4% | -$1.5M+34.2% | -$1.4M+18.7% | -$1.3M+40.4% |
| EPS (Basic) | -$2.23+11.5% | N/A | -$1.97+49.9% | -$2.19+59.2% | -$2.52+85.3% | N/A | -$3.93-165.5% | -$5.37+25.0% |
| EPS (Diluted) | N/A | N/A | N/A | -$2.19 | -$2.52 | N/A | -$0.23 | -$5.37 |
| Diluted Shares (Avg) | N/A | N/A | N/A | 881,294 | 596,368 | N/A | 6M | 235,868 |
Not reported in any period shown, so not listed: Income Tax.
TIVC 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 | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $38.2M+911.8% | $31.6M+1026.0% | $6.2M+83.5% | $4.5M-5.7% | $3.8M+14.9% | $2.8M-45.6% | $3.4M-51.6% | $4.8M+4.1% |
| Current Assets | $8.7M+586.1% | $13.0M+392.8% | $3.7M+18.2% | $1.8M-60.5% | $1.3M-55.4% | $2.6M-43.3% | $3.2M-51.0% | $4.7M+16.6% |
| Cash & Equivalents | $7.2M+978.5% | $12.6M+531.6% | $3.5M+57.6% | $1.2M-67.9% | $669K-59.9% | $2.0M-41.0% | $2.2M-57.7% | $3.7M+38.9% |
| Inventory | $750K+145.1% | $0-100.0% | $4K-99.5% | $283K-63.1% | $306K-60.5% | $319K-57.8% | $731K-21.2% | $766K-22.5% |
| Accounts Receivable | N/A | N/A | $19K+111.1% | $13K-18.8% | $13K-82.4% | $69K-60.3% | $9K-93.1% | $16K+23.1% |
| Goodwill | $3.5M | $3.5M | N/A | N/A | N/A | $0 | N/A | N/A |
| Total Liabilities | $19.7M+2554.1% | $14.8M+5344.9% | $2.8M+402.7% | $821K+38.9% | $741K-34.6% | $272K-82.8% | $560K-54.9% | $591K-58.8% |
| Current Liabilities | $2.6M+252.9% | $646K+137.5% | $638K+13.9% | $821K+38.9% | $741K-25.3% | $272K-80.6% | $560K-44.0% | $591K-49.1% |
| Non-Current Liabilities | $17.1M | $14.2M | $2.2M | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% |
| Long-Term Debt | $16.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $11.1M+264.4% | $16.8M+562.6% | $3.4M+20.5% | $3.3M-21.0% | $3.0M+41.0% | $2.5M-29.2% | $2.8M-50.8% | $4.2M+32.6% |
| Retained Earnings | -$59.0M-31.1% | -$52.6M-20.8% | -$49.6M-18.0% | -$47.0M-15.6% | -$45.0M-14.4% | -$43.5M-14.9% | -$42.1M-18.0% | -$40.6M-19.9% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
TIVC 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 | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.0M-463.7% | -$2.3M-67.5% | -$2.0M-41.9% | -$1.8M-42.0% | -$889K+46.6% | -$1.4M+23.1% | -$1.4M+24.8% | -$1.3M+47.3% |
| Depreciation & Amortization | $4K+300.0% | N/A | $0-100.0% | $1K0.0% | $1K0.0% | $0-100.0% | $1K0.0% | $1K-66.7% |
| Stock-Based Compensation | $208K+108.0% | N/A | $138K+137.9% | $177K+227.8% | $100K+85.2% | N/A | $58K+20.8% | $54K-33.3% |
| Capital Expenditures | $7K | $25K | $10K | $3K | $0 | $0 | N/A | N/A |
| Free Cash Flow | -$5.0M-464.5% | -$2.3M-69.4% | -$2.0M | -$1.8M | -$889K | -$1.4M+23.1% | N/A | N/A |
| Investing Cash Flow | -$7K+98.7% | -$149K | -$10K | -$20K | -$526K | $0 | N/A | N/A |
| Financing Cash Flow | -$44K-153.7% | $11.6M+887.4% | $4.3M+4504.1% | $2.4M-28.7% | $82K+234.4% | $1.2M | -$97K-102.2% | $3.3M+7627.3% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TIVC 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 | Q1'2610-K | Q4'2510-K | Q3'25 | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | -99.3%-134.2pp | 62.8%+41.4pp | 71.4%+21.4pp | -132.8% | 34.9%-3.4pp | 21.4%-16.5pp |
| Operating Margin | N/A | N/A | -1700.7% | -2248.8% | -1967.1% | -165.6% | -1135.7% | -904.3% |
| Net Margin | N/A | N/A | -1778.1% | -2245.3% | -2145.7% | -820.6% | -1135.7% | -904.3% |
| Return on Equity | -56.1%-6.6pp | N/A | -76.0%-25.5pp | -58.3%-28.1pp | -49.5%+19.3pp | -58.3%+4.4pp | -50.5%-20.0pp | -30.2%+37.0pp |
| Return on Assets | -16.2%+23.5pp | N/A | -41.7%+0.5pp | -42.8%-16.4pp | -39.8%+5.3pp | -52.6%-9.1pp | -42.2%-17.0pp | -26.5%+19.8pp |
| Current Ratio | 3.31+1.6x | 20.13+10.4x | 5.86+0.2x | 2.24-5.6x | 1.70-1.1x | 9.70+6.4x | 5.65-0.8x | 7.89+4.4x |
| Debt-to-Equity | 1.78+1.5x | 0.88+0.8x | 0.82+0.6x | 0.25+0.1x | 0.24-0.3x | 0.11-0.3x | 0.200.0x | 0.14-0.3x |
| Asset Turnover | N/A | N/A | 0.020.0x | 0.020.0x | 0.02-0.1x | 0.060.0x | 0.040.0x | 0.030.0x |
| FCF Margin | N/A | N/A | -1374.0% | -2127.9% | -1270.0% | -758.3% | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| Tivic Health Systems, Inc. TIVC | FY2025 | N/A | -$8.9M | N/A | $4.0M | — |
| NanoVibronix, Inc. NAOV | FY2025 | $2.6M | -$18.2M | N/A | $4.4M | 28/100 |
| VENUS CONCEPT INC VERO | FY2024 | $64.8M | -$47.0M | -72.5% | $2.1M | — |
| Corvex, Inc. MOVE | FY2025 | $433K | -$18.3M | N/A | $334.1M | — |
| Nuwellis, Inc. NUWE | FY2025 | $8.3M | -$17.5M | N/A | $2.2M | 45/100 |
| Autonomix Medical, Inc. AMIX | FY2026 | $0 | -$16.7M | N/A | $6.8M | — |
Where Tivic Health Systems, Inc. Ranks
Frequently Asked Questions
Is Tivic Health Systems, Inc. profitable?
No, Tivic Health Systems, Inc. (TIVC) reported a net income of -$8.9M in fiscal year 2025.
What is Tivic Health Systems, Inc.'s EBITDA?
Tivic Health Systems, Inc. (TIVC) had EBITDA of -$7.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tivic Health Systems, Inc.'s return on equity (ROE)?
Tivic Health Systems, Inc. (TIVC) has a return on equity of -52.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tivic Health Systems, Inc.'s free cash flow?
Tivic Health Systems, Inc. (TIVC) recorded an outflow of $7.0M in free cash flow during fiscal year 2025. This represents a -22.9% 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 Tivic Health Systems, Inc.'s operating cash flow?
Tivic Health Systems, Inc. (TIVC) recorded an outflow of $7.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Tivic Health Systems, Inc.'s total assets?
Tivic Health Systems, Inc. (TIVC) had $31.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tivic Health Systems, Inc.'s capital expenditures?
Tivic Health Systems, Inc. (TIVC) invested $38K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tivic Health Systems, Inc. spend on research and development?
Tivic Health Systems, Inc. (TIVC) invested $3.1M in research and development during fiscal year 2025.
What is Tivic Health Systems, Inc.'s current ratio?
Tivic Health Systems, Inc. (TIVC) had a current ratio of 20.13 as of fiscal year 2025, which is generally considered healthy.
What is Tivic Health Systems, Inc.'s debt-to-equity ratio?
Tivic Health Systems, Inc. (TIVC) had a debt-to-equity ratio of 0.88 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tivic Health Systems, Inc.'s return on assets (ROA)?
Tivic Health Systems, Inc. (TIVC) had a return on assets of -28.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Tivic Health Systems, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Tivic Health Systems, Inc. (TIVC) held $12.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.0M over that year. Dividing the one by the other, the reported balance equals about 22 months 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.
What is Tivic Health Systems, Inc.'s Piotroski F-Score?
Tivic Health Systems, Inc. (TIVC) has a Piotroski F-Score of 3 out of 6 computable signals; 3 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 Tivic Health Systems, Inc.'s earnings high quality?
Tivic Health Systems, Inc. (TIVC) reported a net loss of $8.9M while operations used $7.0M 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 Tivic Health Systems, Inc. cover its interest payments?
Tivic Health Systems, Inc. (TIVC) reported an operating loss of $7.9M against $146K 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.