What is TNF Pharmaceuticals's earnings per share (EPS)?

TNF Pharmaceuticals (TNFA) reported diluted earnings per share of $-8.66 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

TNF Pharmaceuticals Financials

TNFA

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows TNF Pharmaceuticals (TNFA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 TNFA FY2025 2026-04-22

TNF Pharmaceuticals' external financing remains the dominant business mechanic because cash burn persists despite narrower operating losses.

From FY2023 to FY2025, operating loss improved from -$17.1M to -$9.8M, but operating cash outflow only improved from -$13.0M to -$9.1M; the business became less loss-making on paper faster than it became less cash-consuming. That gap matters because FY2025 cash was only $987K, so near-term funding came mainly from $18.3M of financing inflow, not from internal cash generation.

The better FY2025 current ratio of 3.0x versus 1.4x in FY2024 signals improved short-term liquidity, but that improvement arrived alongside $18.3M of financing cash flow and only $987K of cash on hand. In practice, the balance sheet was strengthened by recapitalization rather than by the business funding itself.

From FY2022 to FY2025, R&D and SG&A were both cut—R&D from $9.1M to $3.5M and SG&A from $5.5M to $3.7M—so the smaller operating loss reflects cost pacing more than evidence of scale. That makes expense control, not internal cash generation, the clearest operating lever visible in these filings.

Financial Health Signals

Financial health score pending refresh

We are recalculating TNF Pharmaceuticals'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

3/6

TNF Pharmaceuticals 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.

Earnings Quality Low Quality

0.78x

For every $1 of reported earnings, TNF Pharmaceuticals generates $0.78 in operating cash flow (-$9.1M OCF vs -$11.6M 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

-$11.6M

YoY+50.2%

TNF Pharmaceuticals reported -$11.6M in net income in fiscal year 2025. This represents an increase of 50.2% from the prior year.

EPS (Diluted)

$-8.66

TNF Pharmaceuticals earned $-8.66 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$10.8M

TNF Pharmaceuticals generated -$10.8M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$987K

YoY+470.0%

5Y CAGR+46.1%

10Y CAGR+8.0%

TNF Pharmaceuticals held $987K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

TNF Pharmaceuticals had 4M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-53.4%

YoY+185.2pp

10Y CAGR-32.2pp

TNF Pharmaceuticals's ROE was -53.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 185.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$3.5M

YoY+0.9%

5Y CAGR+7.1%

10Y CAGR+14.2%

TNF Pharmaceuticals invested $3.5M in research and development in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.8M

10Y CAGR+52.9%

TNF Pharmaceuticals invested $1.8M in capex in fiscal year 2025, funding long-term assets and infrastructure.

TNFA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	$1.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$1.1M
Gross Profit	N/A	N/A	N/A	N/A	N/A	$479K
R&D Expenses	$3.5M+0.9%	$3.4M-56.3%	$7.9M-13.2%	$9.1M+34.4%	$6.7M+173.4%	$2.5M
SG&A Expenses	$3.7M-10.2%	$4.2M-23.5%	$5.4M-1.4%	$5.5M-14.0%	$6.4M+117.9%	$2.9M
Operating Income	-$9.8M+3.2%	-$10.2M+40.6%	-$17.1M-12.0%	-$15.3M+47.0%	-$28.8M-729.7%	-$3.5M
Interest Expense	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
Net Income	-$11.6M+50.2%	-$23.4M-484.0%	-$4.0M+73.7%	-$15.2M+49.2%	-$29.9M-668.7%	-$3.9M
EPS (Diluted)	$-8.66	$-1080.87	$-5.33+54.6%	$-11.74	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$511K	N/A	$356K-59.2%	$873K-43.5%	$1.5M	N/A	$708K+76.4%	$401K
SG&A Expenses	$1.1M	N/A	$968K+8.2%	$894K+6.3%	$842K	N/A	$1.1M+8.2%	$1.0M
Operating Income	-$1.9M	N/A	-$1.8M+4.5%	-$1.9M+24.2%	-$2.5M	N/A	-$1.8M+45.8%	-$3.4M
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	-$1.2M	N/A	-$2.8M-56.5%	-$1.8M-59.7%	-$1.1M	N/A	-$1.9M+79.8%	-$9.6M
EPS (Diluted)	$-0.19	N/A	$-2.50	$-0.18+50.0%	$-0.36	N/A	$-107.62-2270.5%	$-4.54

TNFA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$41.2M+92.2%	$21.4M+19.9%	$17.9M+1.8%	$17.5M-29.3%	$24.8M+3566.8%	$677K
Current Assets	$16.6M+76.2%	$9.4M+61.8%	$5.8M+7.7%	$5.4M-57.4%	$12.7M+8371.7%	$150K
Cash & Equivalents	$987K+470.0%	$173K-93.5%	$2.7M+257.9%	$749K+34.7%	$556K+274.9%	$148K
Inventory	N/A	N/A	N/A	N/A	N/A	$198K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$43K
Goodwill	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M	N/A
Total Liabilities	$16.4M+41.4%	$11.6M+128.6%	$5.1M+78.9%	$2.8M+144.0%	$1.2M-80.4%	$5.9M
Current Liabilities	$5.5M-17.4%	$6.7M+34.3%	$5.0M+80.1%	$2.8M+166.3%	$1.0M-55.7%	$2.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$21.8M+122.2%	$9.8M-20.9%	$12.4M-15.8%	$14.7M-37.9%	$23.6M+549.8%	-$5.3M
Retained Earnings	-$144.1M-11.6%	-$129.1M-26.6%	-$102.0M-8.8%	-$93.8M-19.3%	-$78.6M-61.4%	-$48.7M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$38.3M-7.0%	$41.2M+10.6%	$37.2M+117.1%	$17.2M-8.7%	$18.8M-12.3%	$21.4M-10.9%	$24.0M-8.9%	$26.4M
Current Assets	$13.7M-17.3%	$16.6M+48.8%	$11.1M+116.3%	$5.2M-24.0%	$6.8M-28.0%	$9.4M-21.7%	$12.0M-16.2%	$14.4M
Cash & Equivalents	$1.1M+14.2%	$987K-85.7%	$6.9M+3226.5%	$208K+183.4%	$73K-57.7%	$173K-85.5%	$1.2M+122.4%	$536K
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	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M0.0%	$10.5M
Total Liabilities	$14.6M-11.2%	$16.4M+3.3%	$15.9M+34.0%	$11.9M+17.7%	$10.1M-13.3%	$11.6M+66.4%	$7.0M-73.1%	$26.0M
Current Liabilities	$3.7M-33.3%	$5.5M-15.3%	$6.5M+17.7%	$5.6M+12.4%	$4.9M-26.3%	$6.7M-4.1%	$7.0M+20.9%	$5.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$20.7M-4.7%	$21.8M+51.9%	$14.3M+171.4%	$5.3M-39.3%	$8.7M-11.2%	$9.8M-41.6%	$16.8M+17053.9%	$98K
Retained Earnings	-$145.7M-1.1%	-$144.1M-4.8%	-$137.6M-2.8%	-$133.8M-2.1%	-$131.1M-1.5%	-$129.1M-2.5%	-$126.0M-2.2%	-$123.3M

TNFA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$9.1M-1.0%	-$9.0M+30.8%	-$13.0M-5.8%	-$12.3M+37.1%	-$19.5M-534.8%	-$3.1M
Capital Expenditures	$1.8M	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	-$10.8M	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$8.4M-38.1%	-$6.1M-430.6%	$1.8M-73.3%	$6.9M-65.2%	$19.9M+603.7%	-$3.9M
Financing Cash Flow	$18.3M+45.6%	$12.6M-3.8%	$13.1M+135.4%	$5.6M+7447.7%	$74K-98.9%	$7.0M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$3.3M-2.7%	-$3.2M-175.8%	-$1.2M+43.8%	-$2.1M+21.8%	-$2.6M-24.5%	-$2.1M+12.7%	-$2.4M+8.9%	-$2.7M
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	$3.0M+125.5%	-$11.7M-680.6%	-$1.5M-168.0%	$2.2M-13.4%	$2.5M+130.6%	$1.1M-64.3%	$3.1M+128.0%	-$11.0M
Financing Cash Flow	$454K-94.9%	$9.0M	N/A	N/A	N/A	$1	$0-100.0%	$14.0M
Dividends Paid	N/A	N/A	N/A	$309K	N/A	N/A	$68K-89.1%	$625K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TNFA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	30.4%
Operating Margin	N/A	N/A	N/A	N/A	N/A	-220.2%
Net Margin	N/A	N/A	N/A	N/A	N/A	-246.6%
Return on Equity	-53.4%+185.2pp	-238.6%-206.3pp	-32.3%+71.1pp	-103.4%+23.0pp	-126.4%	N/A
Return on Assets	-28.2%+80.8pp	-109.0%-86.7pp	-22.4%+64.3pp	-86.6%+33.8pp	-120.5%-84.7pp	-35.7%
Current Ratio	3.00+1.6	1.40+0.2	1.17-0.8	1.95-10.2	12.18+12.1	0.06
Debt-to-Equity	0.76-0.4	1.19+0.8	0.41+0.2	0.19+0.1	0.05+1.2	-1.13
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-6.0%	N/A	-19.6%+14.4pp	-34.0%-21.1pp	-12.9%	N/A	-11.5%+9768.8pp	-9780.3%
Return on Assets	-3.3%	N/A	-7.5%+2.9pp	-10.5%-4.5pp	-6.0%	N/A	-8.0%+28.2pp	-36.3%
Current Ratio	3.71+0.7	3.00+1.3	1.71+0.8	0.93-0.4	1.37-0.0	1.40-0.3	1.72-0.8	2.48
Debt-to-Equity	0.70-0.1	0.76-0.4	1.11-1.1	2.25+1.1	1.16-0.0	1.19+0.8	0.42-265.4	265.83
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is TNF Pharmaceuticals profitable?

No, TNF Pharmaceuticals (TNFA) reported a net income of -$11.6M in fiscal year 2025.

What is TNF Pharmaceuticals's return on equity (ROE)?

TNF Pharmaceuticals (TNFA) has a return on equity of -53.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is TNF Pharmaceuticals's free cash flow?

TNF Pharmaceuticals (TNFA) generated -$10.8M in free cash flow during fiscal year 2025. 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 TNF Pharmaceuticals's operating cash flow?

TNF Pharmaceuticals (TNFA) generated -$9.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are TNF Pharmaceuticals's total assets?

TNF Pharmaceuticals (TNFA) had $41.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are TNF Pharmaceuticals's capital expenditures?

TNF Pharmaceuticals (TNFA) invested $1.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does TNF Pharmaceuticals spend on research and development?

TNF Pharmaceuticals (TNFA) invested $3.5M in research and development during fiscal year 2025.

How many shares does TNF Pharmaceuticals have outstanding?

TNF Pharmaceuticals (TNFA) had 4M shares outstanding as of fiscal year 2025.

What is TNF Pharmaceuticals's current ratio?

TNF Pharmaceuticals (TNFA) had a current ratio of 3.00 as of fiscal year 2025, which is generally considered healthy.

What is TNF Pharmaceuticals's debt-to-equity ratio?

TNF Pharmaceuticals (TNFA) had a debt-to-equity ratio of 0.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is TNF Pharmaceuticals's return on assets (ROA)?

TNF Pharmaceuticals (TNFA) had a return on assets of -28.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is TNF Pharmaceuticals's cash runway?

Based on fiscal year 2025 data, TNF Pharmaceuticals (TNFA) had $987K in cash against an annual operating cash burn of $9.1M. This gives an estimated cash runway of approximately 1 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 TNF Pharmaceuticals's Piotroski F-Score?

TNF Pharmaceuticals (TNFA) 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 TNF Pharmaceuticals's earnings high quality?

TNF Pharmaceuticals (TNFA) has an earnings quality ratio of 0.78x, 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.