Tiziana Life Sciences Ltd Com Financials

TLSA

Source SEC Filings (10-K/10-Q) Data as of May 1, 2026 Currency USD FYE May

This page shows Tiziana Life Sciences Ltd Com (TLSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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 TLSA FY2024 2026-05-01

Persistent operating losses have been financed mostly by shareholders, while FY2024 showed a sharp drop in actual cash burn.

In FY2024, net loss remained -$11.9M while operating cash flow was only -$1.5M negative, so reported losses consumed far less cash than the income statement alone suggests. That break from FY2023, when operating cash burn was -$15.7M, mattered because year-end cash improved only after $4.5M of financing, showing liquidity was stabilized externally rather than by self-funding operations.

The balance sheet is more equity-depleted than debt-funded: debt-to-equity reached 1.9x even though long-term borrowing was absent or minimal, because equity had shrunk to just $3.9M against liabilities of $7.3M. That means the leverage ratio is being driven mainly by a very thin equity base, not by a large pile of loans.

Liquidity has tightened from a once-comfortable cushion to a near breakeven current position; the current ratio is now about 1.0x after starting the period near 8.8x. With cash down from $65.8M to $3.7M, ongoing losses can no longer be absorbed by the balance sheet the way they were earlier in the period.

Financial Health Signals

Financial health score pending refresh

We are recalculating Tiziana Life Sciences Ltd Com's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

Tiziana Life Sciences Ltd Com passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.70x

For every $1 of reported earnings, Tiziana Life Sciences Ltd Com generates $0.70 in operating cash flow (-$12.8M OCF vs -$18.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$18.4M

YoY-55.4%

Tiziana Life Sciences Ltd Com reported -$18.4M in net income in fiscal year 2025. This represents a decrease of 55.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$12.9M

YoY-732.9%

Tiziana Life Sciences Ltd Com generated -$12.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 732.9% from the prior year.

Cash & Debt

$4.0M

YoY+7.7%

5Y CAGR-42.9%

Tiziana Life Sciences Ltd Com held $4.0M in cash against $234K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

121M

YoY+8.1%

5Y CAGR-9.1%

Tiziana Life Sciences Ltd Com had 121M shares outstanding in fiscal year 2025. This represents an increase of 8.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-35444.2%

YoY-35142.8pp

5Y CAGR-35402.3pp

Tiziana Life Sciences Ltd Com's ROE was -35444.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 35142.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$21K

YoY+10.5%

5Y CAGR+47.6%

Tiziana Life Sciences Ltd Com invested $21K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 10.5% from the prior year.

TLSA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
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	$18K+200.0%	$6K-40.0%	$10K+42.9%	$7K-46.2%	$13K-23.5%	$17K
Income Tax	-$4.9M0.0%	-$4.9M-1187.5%	$449K	N/A	-$3.2M-46.8%	-$2.2M
Net Income	-$18.4M-55.4%	-$11.9M+32.9%	-$17.7M-14.9%	-$15.4M+34.2%	-$23.4M+10.4%	-$26.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
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

TLSA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$11.5M+1.9%	$11.3M-7.4%	$12.2M-54.0%	$26.5M-45.8%	$48.8M-30.9%	$70.7M
Current Assets	$8.6M+13.9%	$7.5M+2.3%	$7.3M-69.8%	$24.3M-50.1%	$48.7M-30.6%	$70.2M
Cash & Equivalents	$4.0M+7.7%	$3.7M+214.8%	$1.2M-93.5%	$18.1M-57.0%	$42.2M-35.9%	$65.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$11.4M+55.7%	$7.3M+10.5%	$6.6M-3.7%	$6.9M-8.5%	$7.5M-8.8%	$8.3M
Current Liabilities	$11.2M+52.5%	$7.3M+12.4%	$6.5M-1.9%	$6.7M-11.7%	$7.5M-5.4%	$8.0M
Long-Term Debt	$234K	N/A	$109K-55.1%	$243K	N/A	$290K
Total Equity	$52K-98.7%	$3.9M-28.9%	$5.5M-71.7%	$19.6M-52.6%	$41.3M-33.8%	$62.4M
Retained Earnings	-$163.1M-12.6%	-$144.8M-8.3%	-$133.7M-15.0%	-$116.3M-7.6%	-$108.1M-27.7%	-$84.6M

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Total Assets	$11.3M-7.4%	$12.2M-54.0%	$26.5M-45.8%	$48.8M-30.9%	$70.7M+2871.2%	$2.4M-65.6%	$6.9M+180.0%	$2.5M
Current Assets	$7.5M+2.3%	$7.3M-69.8%	$24.3M-50.1%	$48.7M-30.6%	$70.2M+4562.9%	$1.5M-78.2%	$6.9M+182.4%	$2.4M
Cash & Equivalents	$3.7M+214.8%	$1.2M-93.5%	$18.1M-57.0%	$42.2M-35.9%	$65.8M+32812.0%	$200K-96.2%	$5.3M+8187.5%	$64K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$7.3M+10.5%	$6.6M-3.7%	$6.9M-8.5%	$7.5M-8.8%	$8.3M+112.3%	-$67.3M+2.3%	-$68.8M-1549.7%	$4.7M
Current Liabilities	$7.3M+12.4%	$6.5M-1.9%	$6.7M-11.7%	$7.5M-5.4%	$8.0M+8.6%	$7.4M+14.8%	$6.4M+34.8%	$4.7M
Long-Term Debt	N/A	$109K-55.1%	$243K	N/A	$290K-46.4%	$541K-35.5%	$839K+189.3%	$290K
Total Equity	$3.9M-28.9%	$5.5M-71.7%	$19.6M-52.6%	$41.3M-33.8%	$62.4M-10.4%	$69.6M-8.1%	$75.8M+3426.1%	-$2.3M
Retained Earnings	-$144.8M-8.3%	-$133.7M-15.0%	-$116.3M-7.6%	-$108.1M-27.7%	-$84.6M-41.0%	-$60.0M-18.4%	-$50.7M-19.0%	-$42.6M

TLSA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$12.8M-741.9%	-$1.5M+90.3%	-$15.7M+20.0%	-$19.6M+9.9%	-$21.8M-92.0%	-$11.3M
Capital Expenditures	$21K+10.5%	$19K	N/A	N/A	$22K+633.3%	$3K
Free Cash Flow	-$12.9M-732.9%	-$1.5M	N/A	N/A	-$21.8M-92.1%	-$11.3M
Investing Cash Flow	$3.0M+4385.9%	-$71K+94.3%	-$1.3M+68.6%	-$4.0M-3173.8%	$130K+205.7%	-$123K
Financing Cash Flow	$10.0M+122.1%	$4.5M+11162.5%	$40K+172.7%	-$55K-139.1%	-$23K-100.0%	$75.3M
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	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
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

TLSA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-35444.2%-35142.8pp	-301.4%+18.2pp	-319.6%-240.9pp	-78.7%-21.9pp	-56.7%-14.8pp	-41.9%
Return on Assets	-160.3%-55.2pp	-105.1%+40.1pp	-145.2%-87.0pp	-58.1%-10.2pp	-48.0%-11.0pp	-37.0%
Current Ratio	0.76-0.3	1.02-0.1	1.12-2.5	3.64-2.8	6.45-2.3	8.79
Debt-to-Equity	4.50+2.6	1.87+1.8	0.020.0	0.01-0.2	0.18+0.2	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
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	1.02-0.1	1.12-2.5	3.64-2.8	6.45-2.3	8.79+8.6	0.20-0.9	1.08+0.6	0.52
Debt-to-Equity	1.87+1.8	0.020.0	0.01-0.2	0.18+0.2	0.000.0	0.010.0	0.01+0.1	-0.13
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.76), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is Tiziana Life Sciences Ltd Com profitable?

No, Tiziana Life Sciences Ltd Com (TLSA) reported a net income of -$18.4M in fiscal year 2025.

How much debt does Tiziana Life Sciences Ltd Com have?

As of fiscal year 2025, Tiziana Life Sciences Ltd Com (TLSA) had $4.0M in cash and equivalents against $234K in long-term debt.

What is Tiziana Life Sciences Ltd Com's return on equity (ROE)?

Tiziana Life Sciences Ltd Com (TLSA) has a return on equity of -35444.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tiziana Life Sciences Ltd Com's free cash flow?

Tiziana Life Sciences Ltd Com (TLSA) generated -$12.9M in free cash flow during fiscal year 2025. This represents a -732.9% 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 Tiziana Life Sciences Ltd Com's operating cash flow?

Tiziana Life Sciences Ltd Com (TLSA) generated -$12.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tiziana Life Sciences Ltd Com's total assets?

Tiziana Life Sciences Ltd Com (TLSA) had $11.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Tiziana Life Sciences Ltd Com's capital expenditures?

Tiziana Life Sciences Ltd Com (TLSA) invested $21K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Tiziana Life Sciences Ltd Com have outstanding?

Tiziana Life Sciences Ltd Com (TLSA) had 121M shares outstanding as of fiscal year 2025.

What is Tiziana Life Sciences Ltd Com's current ratio?

Tiziana Life Sciences Ltd Com (TLSA) had a current ratio of 0.76 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Tiziana Life Sciences Ltd Com's debt-to-equity ratio?

Tiziana Life Sciences Ltd Com (TLSA) had a debt-to-equity ratio of 4.50 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tiziana Life Sciences Ltd Com's return on assets (ROA)?

Tiziana Life Sciences Ltd Com (TLSA) had a return on assets of -160.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tiziana Life Sciences Ltd Com's cash runway?

Based on fiscal year 2025 data, Tiziana Life Sciences Ltd Com (TLSA) had $4.0M in cash against an annual operating cash burn of $12.8M. This gives an estimated cash runway of approximately 4 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.

What is Tiziana Life Sciences Ltd Com's Piotroski F-Score?

Tiziana Life Sciences Ltd Com (TLSA) has a Piotroski F-Score of 1 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 Tiziana Life Sciences Ltd Com's earnings high quality?

Tiziana Life Sciences Ltd Com (TLSA) has an earnings quality ratio of 0.70x, considered low quality (accrual-driven). 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.