Talphera Inc Financials
Talphera Inc (TLPH) reported $28K in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Talphera’s liquidity has been rebuilt through equity financing, while the underlying business still operates as a cash-consuming development platform.
FY2025 ended with only$5.9M of cash despite a-$11.4M operating cash outflow, so the strong current ratio of 5.5x reflects fresh financing more than self-funded operations; financing added$22.7M and shares outstanding rose from 17.0M to 49.3M. The short-term balance sheet improved even though the company still needed outside capital to keep funding its programs.
Across FY2023 to FY2025, operating cash burn improved from
The business appears light on capital spending: in FY2023 and FY2024, free cash flow was almost the same as operating cash flow, so cash use came mainly from running the organization rather than building fixed assets. With FY2025 liabilities of
Financial Health Signals
Talphera 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.
Talphera Inc scores -20.00, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($63.8M) relative to total liabilities ($12.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Talphera Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Talphera Inc reported a net loss of $14.3M while operations used $11.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Talphera Inc generated $28K in revenue in fiscal year 2025.
Talphera Inc reported -$14.3M in net income in fiscal year 2025. This represents a decrease of 9.9% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Talphera Inc held $5.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Talphera Inc's ROE was -83.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 78.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Talphera Inc invested $6.0M in research and development in fiscal year 2025. This represents a decrease of 10.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
TLPH 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 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $28K | $0-100.0% | $651K | $0-100.0% | $378K-93.0% | $5.4M+136.6% | $2.3M+6.4% | $2.2M-73.1% | $8.0M-53.9% | $17.4M-9.9% | $19.3M+269.2% | $5.2M-82.3% | $29.5M+1132.3% | $2.4M+123.3% | $1.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | $0-100.0% | $571K-90.5% | $6.0M-11.4% | $6.8M+71.2% | $4.0M-62.7% | $10.7M-13.4% | $12.3M+595.8% | $1.8M | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | $0+100.0% | -$193K+68.7% | -$616K+86.4% | -$4.5M-147.5% | -$1.8M+31.5% | -$2.7M-152.8% | $5.0M-71.2% | $17.5M | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | $6.0M-10.2% | $6.7M+21.1% | $5.5M+66.0% | $3.3M+37.2% | $2.4M-39.4% | $4.0M-13.8% | $4.7M-64.5% | $13.1M-32.3% | $19.4M-9.3% | $21.4M-4.8% | $22.5M-8.3% | $24.5M-6.7% | $26.3M+5.6% | $24.9M+82.8% | $13.6M |
| SG&A Expenses | N/A | $7.5M-12.4% | $8.5M-28.8% | $12.0M-29.5% | $17.0M+9.8% | $15.5M-57.4% | $36.3M-19.3% | $45.0M+116.8% | $20.8M+25.0% | $16.6M+6.5% | $15.6M+9.8% | $14.2M-22.6% | $18.3M+85.7% | $9.9M+37.2% | $7.2M+5.9% | $6.8M |
| Operating Income | N/A | -$13.5M+11.6% | -$15.3M+9.7% | -$16.9M+33.2% | -$25.3M-39.7% | -$18.1M+55.8% | -$41.0M+24.4% | -$54.2M-51.7% | -$35.7M+7.6% | -$38.7M-21.0% | -$32.0M-60.2% | -$20.0M+47.0% | -$37.6M-464.7% | -$6.7M | N/A | N/A |
| Interest Expense | N/A | N/A | $0-100.0% | $134K-88.0% | $1.1M-49.1% | $2.2M-33.6% | $3.3M+30.4% | $2.5M+14.3% | $2.2M-33.1% | $3.3M+19.7% | $2.8M-7.0% | $3.0M+12.8% | $2.6M+73.8% | $1.5M-33.5% | $2.3M-1.1% | $2.3M |
| Income Tax | N/A | $0 | $0 | $0-100.0% | $13K+160.0% | $5K+25.0% | $4K+33.3% | $3K+50.0% | $2K+100.3% | -$701K-1961.8% | -$34K-104.5% | $760K | $0 | $0 | $0 | $0 |
| Net Income | N/A | -$14.3M-9.9% | -$13.0M+29.3% | -$18.4M-138.5% | $47.8M+236.1% | -$35.1M+13.1% | -$40.4M+24.2% | -$53.2M-12.9% | -$47.1M+8.5% | -$51.5M-19.4% | -$43.2M-76.9% | -$24.4M+26.8% | -$33.4M-42.4% | -$23.4M+29.8% | -$33.4M-66.0% | -$20.1M |
| EPS (Diluted) | — | N/A | N/A | -$1.29 | $5.72+197.6% | -$5.86 | N/A | N/A | N/A | -$1.10-15.8% | -$0.95-58.3% | -$0.60+34.1% | -$0.91-54.2% | -$0.59 | -$1.51 | N/A |
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.
TLPH 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 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.7M+63.0% | $18.2M-10.6% | $20.4M-57.1% | $47.5M-39.0% | $77.9M+17.5% | $66.3M-27.4% | $91.4M-24.2% | $120.5M+59.5% | $75.6M-24.4% | $100.0M-21.7% | $127.8M+47.9% | $86.4M-21.5% | $110.0M+70.5% | $64.5M+58.0% | $40.8M |
| Current Assets | $20.9M+121.9% | $9.4M-18.7% | $11.6M-52.9% | $24.6M-51.3% | $50.5M+7.8% | $46.8M-34.7% | $71.7M-33.6% | $108.0M+70.3% | $63.4M-28.8% | $89.1M-25.1% | $118.9M+55.9% | $76.3M-27.0% | $104.6M+69.3% | $61.8M+61.9% | $38.1M |
| Cash & Equivalents | $5.9M-33.5% | $8.9M+54.9% | $5.7M-62.5% | $15.3M+99.3% | $7.7M-65.6% | $22.3M+51.7% | $14.7M-83.3% | $88.0M+66.3% | $52.9M-34.1% | $80.3M-25.6% | $107.9M+79.8% | $60.0M-32.1% | $88.4M+84.4% | $47.9M+515.0% | $7.8M |
| Inventory | N/A | N/A | N/A | $1.2M+6.0% | $1.1M-31.7% | $1.6M-50.7% | $3.3M+285.8% | $854K-10.7% | $956K-55.6% | $2.2M+362.2% | $466K | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | $309K+93.1% | $160K-74.8% | $635K+47.0% | $432K+781.6% | $49K-96.8% | $1.5M-73.7% | $5.8M+77.5% | $3.3M | $0 | N/A | N/A | N/A |
| Total Liabilities | $12.7M+23.9% | $10.2M+62.7% | $6.3M-75.5% | $25.7M-77.4% | $113.8M-6.8% | $122.0M-8.1% | $132.8M+14.2% | $116.3M+3.8% | $112.1M+6.4% | $105.3M+11.3% | $94.7M+138.1% | $39.8M+7.8% | $36.9M+20.2% | $30.7M+31.3% | $23.4M |
| Current Liabilities | $3.8M+43.9% | $2.6M-41.3% | $4.5M-67.2% | $13.8M-25.6% | $18.5M+5.0% | $17.6M+29.6% | $13.6M-14.5% | $15.9M+16.6% | $13.7M+34.0% | $10.2M-20.3% | $12.8M-6.9% | $13.7M+99.9% | $6.9M-52.1% | $14.3M+82.7% | $7.8M |
| Long-Term Debt | N/A | N/A | N/A | $0-100.0% | $5.0M-61.9% | $13.1M-36.0% | $20.5M+507.0% | $3.4M-70.3% | $11.4M-39.0% | $18.6M+13.8% | $16.4M-9.1% | $18.0M+25.4% | $14.4M+68.4% | $8.5M-44.2% | $15.3M |
| Total Equity | $17.0M+112.9% | $8.0M-43.3% | $14.1M-35.3% | $21.8M+160.8% | -$35.9M+35.6% | -$55.8M-34.6% | -$41.4M-1073.9% | $4.3M+111.6% | -$36.5M-584.1% | -$5.3M-116.1% | $33.1M-29.0% | $46.7M-36.2% | $73.2M+116.1% | $33.8M+93.8% | $17.5M |
| Retained Earnings | -$471.5M-3.1% | -$457.2M-2.9% | -$444.2M-4.3% | -$425.8M+10.1% | -$473.6M-8.0% | -$438.5M-10.1% | -$398.1M-15.4% | -$345.0M-15.8% | -$297.9M-20.9% | -$246.4M-21.2% | -$203.2M-13.6% | -$178.8M-22.9% | -$145.5M-19.2% | -$122.0M-37.6% | -$88.7M |
Not reported in any period shown, so not listed: Goodwill.
TLPH 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 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.3M | -$11.4M+10.4% | -$12.7M+27.5% | -$17.5M+38.3% | -$28.3M+5.6% | -$30.0M+22.1% | -$38.5M+24.8% | -$51.2M-76.0% | -$29.1M+2.3% | -$29.8M-1.3% | -$29.4M-47.3% | -$20.0M+42.1% | -$34.5M-6975.2% | -$487K+98.0% | -$24.6M-60.8% | -$15.3M |
| Capital Expenditures | N/A | N/A | $0-100.0% | $100K-72.5% | $364K-80.1% | $1.8M-1.5% | $1.9M-46.5% | $3.5M+323.7% | $819K-65.9% | $2.4M-35.3% | $3.7M+155.5% | $1.5M-73.6% | $5.5M+67.5% | $3.3M+297.9% | $826K-59.1% | $2.0M |
| Free Cash Flow | N/A | N/A | -$12.7M+27.9% | -$17.6M+38.7% | -$28.7M+9.8% | -$31.8M+21.1% | -$40.4M+26.1% | -$54.6M-82.8% | -$29.9M+7.1% | -$32.2M+2.9% | -$33.1M-54.7% | -$21.4M+46.4% | -$40.0M-958.9% | -$3.8M+85.1% | -$25.4M-46.8% | -$17.3M |
| Investing Cash Flow | -$16.0M | -$14.3M-479.4% | $3.8M+816.1% | -$528K-101.4% | $36.5M+239.5% | -$26.1M-176.5% | $34.1M+193.4% | -$36.6M-236.1% | -$10.9M-9.1% | -$10.0M-651.1% | $1.8M-77.9% | $8.2M | N/A | -$6.9M-146.3% | $15.0M+150.6% | -$29.6M |
| Financing Cash Flow | $22.2M | $22.7M+88.8% | $12.0M+247.5% | $3.5M+783.6% | -$507K-101.2% | $41.5M+144.8% | $17.0M+17.3% | $14.5M-80.7% | $75.0M+508.6% | $12.3M+47511.5% | -$26K-100.0% | $59.6M | N/A | $47.9M-3.8% | $49.8M+0.3% | $49.6M |
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.
TLPH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | -51.1%-39.7pp | -11.4% | -197.3% | -84.8%-51.5pp | -33.3%-62.4pp | 29.0%-61.8pp | 90.8% | N/A | N/A | N/A | N/A |
| Operating Margin | -48157.1% | N/A | -2594.3% | N/A | -4792.6% | -756.3% | -2368.1% | -1661.0% | -483.8% | -184.1% | -103.6% | -721.7% | -22.6% | N/A | N/A |
| Net Margin | -51035.7% | N/A | -2826.0% | N/A | -9285.5% | -745.5% | -2325.9% | -2192.0% | -644.3% | -248.6% | -126.7% | -639.3% | -79.4% | -1393.6% | -1875.1% |
| Return on Equity | -83.9%+78.6pp | -162.5%-32.1pp | -130.4%-349.4pp | 218.9% | N/A | N/A | N/A | -1108.6% | N/A | N/A | -73.7%-2.2pp | -71.5%-39.5pp | -32.0%+66.5pp | -98.6%+16.5pp | -115.1% |
| Return on Assets | -48.1%+23.2pp | -71.3%+18.9pp | -90.2%-190.8pp | 100.6%+145.6pp | -45.1%+15.8pp | -60.9%-2.6pp | -58.3%-19.2pp | -39.1%+29.1pp | -68.2%-25.0pp | -43.2%-24.1pp | -19.1%+19.5pp | -38.6%-17.3pp | -21.3%+30.4pp | -51.7%-2.5pp | -49.2% |
| Current Ratio | 5.49+1.9x | 3.56+1.0x | 2.57+0.8x | 1.78-0.9x | 2.73+0.1x | 2.66-2.6x | 5.27-1.5x | 6.78+2.1x | 4.64-4.1x | 8.74-0.6x | 9.31+3.8x | 5.56-9.7x | 15.22+10.9x | 4.31-0.6x | 4.86 |
| Debt-to-Equity | 0.74-0.5x | 1.28+0.8x | 0.45+0.4x | 0.00 | N/A | N/A | N/A | 0.79 | N/A | N/A | 0.49+0.1x | 0.39+0.2x | 0.20-0.1x | 0.25-0.6x | 0.87 |
| FCF Margin | N/A | N/A | -2702.3% | N/A | -8420.4% | -745.2% | -2387.5% | -1389.8% | -402.4% | -190.8% | -111.1% | -766.0% | -12.8% | -1061.3% | -1614.4% |
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.
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Frequently Asked Questions
What is Talphera Inc's annual revenue?
Talphera Inc (TLPH) reported $28K in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Talphera Inc profitable?
No, Talphera Inc (TLPH) reported a net income of -$14.3M in fiscal year 2025.
What is Talphera Inc's return on equity (ROE)?
Talphera Inc (TLPH) has a return on equity of -83.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Talphera Inc's operating cash flow?
Talphera Inc (TLPH) recorded an outflow of $11.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Talphera Inc's total assets?
Talphera Inc (TLPH) had $29.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Talphera Inc spend on research and development?
Talphera Inc (TLPH) invested $6.0M in research and development during fiscal year 2025.
What is Talphera Inc's current ratio?
Talphera Inc (TLPH) had a current ratio of 5.49 as of fiscal year 2025, which is generally considered healthy.
What is Talphera Inc's debt-to-equity ratio?
Talphera Inc (TLPH) had a debt-to-equity ratio of 0.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Talphera Inc's return on assets (ROA)?
Talphera Inc (TLPH) had a return on assets of -48.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Talphera Inc's Altman Z-Score?
Talphera Inc (TLPH) has an Altman Z-Score of -20.00, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Talphera Inc's Piotroski F-Score?
Talphera Inc (TLPH) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Talphera Inc's earnings high quality?
Talphera Inc (TLPH) reported a net loss of $14.3M while operations used $11.4M 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.