Tango Therapeutics, Inc. (TNGX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TNGX SEC filings page.
Tango Therapeutics, Inc. (TNGX) reported $53.8M in revenue over the twelve months to Jun 30, 2026, up 121.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Tango is a research-funded business: $62.4M of revenue coexists with operations consuming $138.9M in cash annually, before capital investment.
FY2025’s narrower loss arrived as revenue increased and R&D spending decreased from FY2024, so the improvement reflects both commercial growth and a less intensive research budget—not scale alone.
Operating cash flow was
Liabilities fell from
Financial Health Signals
Scored against emerging companies for FY2025. 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 Tango Therapeutics, 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.
Tango Therapeutics, Inc. held $343.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $138.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Tango Therapeutics, Inc. scores 55/100 among other emerging companies.
Tango Therapeutics, Inc. had 143M shares outstanding at the end of fiscal year 2025, against 108M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Tango Therapeutics, Inc. scores 40/100 among other emerging companies.
Tango Therapeutics, Inc. spent $132.2M on research and development in fiscal year 2025, which was 76.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Tango Therapeutics, Inc. scores 95/100 among other emerging companies.
Tango Therapeutics, Inc. reported revenue of $62.4M in fiscal year 2025, against $42.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Tango Therapeutics, Inc. scores 72/100 among other emerging companies.
Tango Therapeutics, Inc.'s operations used $138.9M of cash in fiscal year 2025, against $131.5M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Tango Therapeutics, Inc. scores 38/100 among other emerging companies.
Tango Therapeutics, Inc.'s cash, cash equivalents and investments came to $343.1M at the end of fiscal year 2025, against $52.5M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Tango Therapeutics, Inc. scores 92/100 among other emerging companies.
Tango Therapeutics, Inc. scores 43.99, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.0B) relative to total liabilities ($52.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Tango Therapeutics, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Tango Therapeutics, Inc. reported a net loss of $101.6M while operations used $138.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Tango Therapeutics, Inc. reported an operating loss of $111.3M against $5.6M 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
Tango Therapeutics, Inc. generated $0 in revenue in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Tango Therapeutics, Inc.'s EBITDA was -$59.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 47.1% from the same quarter a year earlier. Against the prior quarter it is down 22.9%.
Tango Therapeutics, Inc. reported -$55.3M in net income in Q2 2026. This represents a decrease of 42.4% from the same quarter a year earlier. Against the prior quarter it is down 21.6%.
Tango Therapeutics, Inc. earned -$0.37 per diluted share (EPS) in Q2 2026. This represents a decrease of 5.7% from the same quarter a year earlier. Against the prior quarter it is down 15.6%.
Cash & Balance Sheet
Tango Therapeutics, Inc. recorded an outflow of $38.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 4.7% from the same quarter a year earlier. Against the prior quarter it is up 12.3%.
Tango Therapeutics, Inc. held $345.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Tango Therapeutics, Inc.'s ROE was -5.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 23.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Tango Therapeutics, Inc. invested $37.2M in research and development in Q2 2026. This represents an increase of 13.4% from the same quarter a year earlier. Against the prior quarter it is up 10.9%.
Tango Therapeutics, Inc. invested $20K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 96.8% from the same quarter a year earlier. Against the prior quarter it is up 900.0%.
Not reported for Q2 2026.
TNGX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0-100.0% | $0-100.0% | $0-100.0% | $53.8M+363.6% | $3.2M-84.0% | $5.4M-16.7% | $4.1M-24.2% | $11.6M+8.2% |
| R&D Expenses | $37.2M+13.4% | $33.5M-8.0% | $32.1M-5.4% | $30.8M-7.4% | $32.8M-15.1% | $36.4M-4.3% | $33.9M+8.3% | $33.3M+22.5% |
| SG&A Expenses | $22.6M+99.2% | $15.2M+32.7% | $9.8M-12.0% | $8.9M-20.5% | $11.3M+5.3% | $11.5M+7.7% | $11.1M+21.8% | $11.2M+21.9% |
| Operating Income | -$59.8M-45.9% | -$48.8M-14.7% | -$41.9M-2.3% | $14.1M+142.8% | -$41.0M-38.6% | -$42.5M-0.7% | -$40.9M-16.8% | -$32.9M-28.3% |
| EBITDA | -$59.4M-47.1% | -$48.3M-15.3% | -$41.4M-2.7% | $14.6M+145.3% | -$40.3M-39.5% | -$41.9M-0.7% | -$40.3M-17.1% | -$32.3M-29.0% |
| Interest Expense | $3.7M+200.5% | $2.2M+34.9% | $1.7M-7.3% | $1.1M-39.4% | $1.2M-40.2% | $1.6M-26.5% | $1.8M-18.9% | $1.8M-3.4% |
| Income Tax | $1K-97.1% | $1K-97.1% | -$55K-212.2% | -$10K-118.5% | $35K-46.2% | $34K-15.0% | $49K+4.3% | $54K+134.8% |
| Net Income | -$55.3M-42.4% | -$45.5M-14.1% | -$38.8M-2.9% | $15.9M+154.5% | -$38.9M-52.1% | -$39.9M-5.2% | -$37.7M-22.6% | -$29.2M-31.0% |
| EPS (Basic) | -$0.37-5.7% | -$0.32+11.1% | -$0.30+11.8% | $0.14+151.9% | -$0.35-45.8% | -$0.36-2.9% | -$0.34-13.3% | -$0.27-17.4% |
| EPS (Diluted) | -$0.37-5.7% | -$0.32+11.1% | -$0.30+11.8% | $0.13+148.1% | -$0.35-45.8% | -$0.36-2.9% | -$0.34-13.3% | -$0.27-17.4% |
| Diluted Shares (Avg) | 150M+35.6% | 144M+30.2% | N/A | 118M+8.5% | 111M+2.1% | 110M+2.0% | N/A | 109M+11.8% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
TNGX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B+351.4% | $435.8M+58.9% | $398.7M+26.0% | $210.1M-40.4% | $237.9M-37.6% | $274.3M-32.5% | $316.5M-21.4% | $352.4M-17.7% |
| Current Assets | $1.0B+442.7% | $392.3M+74.4% | $353.8M+32.8% | $163.8M-45.6% | $190.1M-42.1% | $224.9M-36.1% | $266.3M-23.1% | $300.8M-18.9% |
| Cash & Equivalents | $345.6M+779.9% | $157.8M+170.1% | $112.3M+61.5% | $58.3M+9.8% | $39.3M-23.8% | $58.4M-4.5% | $69.5M+4.7% | $53.1M-9.2% |
| Short-Term Investments | $668.4M+372.3% | $222.0M+40.3% | $230.9M+22.5% | $94.5M-60.7% | $141.5M-47.7% | $158.3M-44.0% | $188.4M-30.4% | $240.1M-20.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $49.3M-52.1% | $44.3M-58.8% | $52.5M-55.1% | $50.1M-59.3% | $102.9M-23.1% | $107.5M-24.1% | $117.0M-21.7% | $123.2M-18.7% |
| Current Liabilities | $20.3M-49.3% | $14.3M-60.1% | $21.7M-43.2% | $18.4M-50.9% | $40.0M-8.8% | $35.9M-16.1% | $38.2M-16.9% | $37.6M-13.4% |
| Non-Current Liabilities | $29.0M-53.8% | $30.0M-58.2% | $30.8M-60.9% | $31.7M-63.0% | $62.9M-30.0% | $71.6M-27.6% | $78.8M-23.9% | $85.7M-20.8% |
| Total Equity | $1.0B+659.2% | $391.5M+134.8% | $346.2M+73.5% | $160.0M-30.2% | $135.0M-45.5% | $166.8M-36.9% | $199.5M-21.2% | $229.2M-17.1% |
| Retained Earnings | -$704.0M-21.3% | -$648.7M-19.8% | -$603.2M-20.3% | -$564.4M-21.7% | -$580.3M-33.5% | -$541.4M-32.3% | -$501.6M-35.1% | -$463.9M-36.2% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
TNGX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$38.9M-6.4% | -$44.4M-6.4% | -$29.7M+18.9% | -$31.0M+7.3% | -$36.5M-54.7% | -$41.7M-10.1% | -$36.6M-33.4% | -$33.4M-7.2% |
| Depreciation & Amortization | $425K-32.0% | $463K-25.6% | $479K-22.7% | $555K-10.8% | $625K-1.1% | $622K-0.5% | $620K+0.5% | $622K+1.5% |
| Stock-Based Compensation | $16.9M+157.1% | $10.8M+48.8% | N/A | $6.6M-7.7% | $6.6M-12.8% | $7.3M+8.0% | N/A | $7.2M+47.7% |
| Capital Expenditures | -$20K-96.8% | -$2K-96.1% | $222K+79.0% | $151K+31.3% | $624K+95.0% | $51K-73.8% | $124K-45.1% | $115K+618.8% |
| Free Cash Flow | -$38.9M-4.7% | -$44.4M-6.3% | -$29.9M+18.6% | -$31.1M+7.2% | -$37.1M-55.2% | -$41.7M-9.7% | -$36.8M-32.8% | -$33.5M-7.6% |
| Investing Cash Flow | -$446.0M-2758.1% | $9.6M-68.5% | -$135.7M-360.7% | $47.5M+45.8% | $16.8M+32.1% | $30.6M+373.1% | $52.1M+53.8% | $32.6M+157.5% |
| Financing Cash Flow | $672.6M+115660.6% | $79.8M+3992200.0% | $219.4M+22539.4% | $2.5M+5.8% | $581K-55.7% | $2K-100.0% | $969K-33.9% | $2.4M-97.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TNGX 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | 26.2% | -1287.9% | -788.8% | -993.9% | -283.3% |
| Net Margin | N/A | N/A | N/A | 29.5% | -1221.4% | -739.5% | -915.2% | -251.3% |
| Return on Equity | -5.4%+23.4pp | -11.6%+12.3pp | -11.2%+7.7pp | 9.9%+22.7pp | -28.8%-18.5pp | -23.9%-9.6pp | -18.9%-6.7pp | -12.7%-4.7pp |
| Return on Assets | -5.1%+11.2pp | -10.4%+4.1pp | -9.7%+2.2pp | 7.6%+15.8pp | -16.3%-9.6pp | -14.5%-5.2pp | -11.9%-4.3pp | -8.3%-3.1pp |
| Current Ratio | 50.82+46.1x | 27.38+21.1x | 16.32+9.3x | 8.88+0.9x | 4.75-2.7x | 6.26-2.0x | 6.98-0.6x | 8.00-0.5x |
| Debt-to-Equity | 0.05-0.7x | 0.11-0.5x | 0.15-0.4x | 0.31-0.2x | 0.76+0.2x | 0.65+0.1x | 0.590.0x | 0.540.0x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.26+0.2x | 0.010.0x | 0.020.0x | 0.010.0x | 0.030.0x |
| FCF Margin | N/A | N/A | N/A | -57.8% | -1167.7% | -774.3% | -893.4% | -288.7% |
Not reported in any period shown, so not listed: Gross Margin.
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: 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 |
|---|---|---|---|---|---|---|
| Tango Therapeutics, Inc. TNGX | FY2025 | $62.4M | -$101.6M | N/A | $4.0B | 65/100 |
| ArriVent BioPharma, Inc. AVBP | FY2025 | N/A | -$166.3M | N/A | $823.9M | — |
| Day One Biopharmaceuticals, Inc. DAWN | FY2025 | $158.2M | N/A | N/A | $2.2B | 51/100 |
| Sana Biotechnology, Inc. SANA | FY2025 | N/A | -$244.2M | N/A | $835.2M | — |
| Anavex Life Sciences AVXL | FY2025 | N/A | -$46.4M | N/A | $142.8M | — |
Where Tango Therapeutics, Inc. Ranks
Frequently Asked Questions
What is Tango Therapeutics, Inc.'s annual revenue?
Tango Therapeutics, Inc. (TNGX) reported $62.4M in total revenue for fiscal year 2025. This represents a 48.3% 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 Tango Therapeutics, Inc.'s revenue growing?
Tango Therapeutics, Inc. (TNGX) revenue grew by 48.3% year-over-year, from $42.1M to $62.4M in fiscal year 2025.
Is Tango Therapeutics, Inc. profitable?
No, Tango Therapeutics, Inc. (TNGX) reported a net income of -$101.6M in fiscal year 2025.
What is Tango Therapeutics, Inc.'s EBITDA?
Tango Therapeutics, Inc. (TNGX) had EBITDA of -$109.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tango Therapeutics, Inc.'s return on equity (ROE)?
Tango Therapeutics, Inc. (TNGX) has a return on equity of -29.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tango Therapeutics, Inc.'s free cash flow?
Tango Therapeutics, Inc. (TNGX) recorded an outflow of $139.9M in free cash flow during fiscal year 2025. This represents a -5.8% 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 Tango Therapeutics, Inc.'s operating cash flow?
Tango Therapeutics, Inc. (TNGX) recorded an outflow of $138.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Tango Therapeutics, Inc.'s total assets?
Tango Therapeutics, Inc. (TNGX) had $398.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tango Therapeutics, Inc.'s capital expenditures?
Tango Therapeutics, Inc. (TNGX) invested $1.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tango Therapeutics, Inc. spend on research and development?
Tango Therapeutics, Inc. (TNGX) invested $132.2M in research and development during fiscal year 2025.
What is Tango Therapeutics, Inc.'s current ratio?
Tango Therapeutics, Inc. (TNGX) had a current ratio of 16.32 as of fiscal year 2025, which is generally considered healthy.
What is Tango Therapeutics, Inc.'s debt-to-equity ratio?
Tango Therapeutics, Inc. (TNGX) had a debt-to-equity ratio of 0.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tango Therapeutics, Inc.'s return on assets (ROA)?
Tango Therapeutics, Inc. (TNGX) had a return on assets of -25.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tango Therapeutics, Inc.'s P/E ratio?
Tango Therapeutics, Inc. (TNGX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $4.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Tango Therapeutics, Inc.'s price-to-sales ratio?
Tango Therapeutics, Inc. (TNGX) trades at 74.6x sales, its market capitalization divided by revenue of $53.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Tango Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Tango Therapeutics, Inc. (TNGX) held $343.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $138.9M over that year. Dividing the one by the other, the reported balance equals about 30 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 Tango Therapeutics, Inc.'s Altman Z-Score?
Tango Therapeutics, Inc. (TNGX) has an Altman Z-Score of 43.99, placing it in the Safe Zone (low 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 Tango Therapeutics, Inc.'s Piotroski F-Score?
Tango Therapeutics, Inc. (TNGX) has a Piotroski F-Score of 3 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 Tango Therapeutics, Inc.'s earnings high quality?
Tango Therapeutics, Inc. (TNGX) reported a net loss of $101.6M while operations used $138.9M 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 Tango Therapeutics, Inc. cover its interest payments?
Tango Therapeutics, Inc. (TNGX) reported an operating loss of $111.3M against $5.6M 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.
How financially healthy is Tango Therapeutics, Inc.?
Tango Therapeutics, Inc. (TNGX) scores 65 out of 100 on our Financial Health Score, indicating strong 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.