Tourmaline Bio Financials
Financial Health Signals
Tourmaline Bio passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Tourmaline Bio generates $1.06 in operating cash flow (-$77.3M OCF vs -$73.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Tourmaline Bio (TRML) 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).
Key Financial Metrics
Tourmaline Bio's EBITDA was -$89.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 97.7% from the prior year.
Tourmaline Bio generated -$77.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 174.6% from the prior year.
Tourmaline Bio reported -$73.2M in net income in fiscal year 2024. This represents a decrease of 73.8% from the prior year.
Tourmaline Bio earned $-2.89 per diluted share (EPS) in fiscal year 2024. This represents an increase of 67.4% from the prior year.
Tourmaline Bio held $30.5M in cash against $0 in long-term debt as of fiscal year 2024.
Tourmaline Bio had 26M shares outstanding in fiscal year 2024. This represents an increase of 26.0% from the prior year.
Tourmaline Bio invested $67.0M in research and development in fiscal year 2024. This represents an increase of 106.9% from the prior year.
Tourmaline Bio spent $4K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Tourmaline Bio invested $9K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 83.9% from the prior year.
TRML Income Statement
| Metric | Q2'25 | Q2'24 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | $19.6M+24.8% | $15.7M-18.6% | $19.3M | N/A | $3.8M | N/A | $15.0M | N/A |
| SG&A Expenses | $6.3M+1.7% | $6.2M+22.1% | $5.1M | N/A | $2.9M | N/A | $4.8M | N/A |
| Operating Income | -$26.0M-18.2% | -$22.0M+10.1% | -$24.4M | N/A | -$6.6M | N/A | -$19.8M | N/A |
| Interest Expense | $0 | $0 | 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 | -$23.1M-32.1% | -$17.5M+13.3% | -$20.2M | N/A | -$5.6M | N/A | -$19.0M | N/A |
| EPS (Diluted) | $-0.90-32.4% | $-0.68+12.8% | $-0.78 | N/A | $-5.16 | N/A | $-4.59 | N/A |
TRML Balance Sheet
| Metric | Q2'25 | Q2'24 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $269.3M-12.8% | $309.0M-5.9% | $328.4M+56.2% | $210.3M+39.2% | $151.1M+1560.4% | $9.1M-95.6% | $206.5M-17.8% | $251.4M |
| Current Assets | $249.1M-7.3% | $268.8M-8.5% | $293.8M+40.7% | $208.9M+38.3% | $151.0M+1717.2% | $8.3M-95.8% | $198.1M-19.6% | $246.5M |
| Cash & Equivalents | $31.4M+3.0% | $30.5M-12.9% | $35.0M-75.1% | $140.7M+80.3% | $78.0M+845.1% | $8.3M-55.3% | $18.5M-0.8% | $18.6M |
| 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 | $0 | N/A | N/A | N/A |
| Total Liabilities | $10.1M+12.9% | $8.9M+21.3% | $7.4M+40.5% | $5.3M-97.4% | $198.5M+588.4% | $28.8M+146.9% | $11.7M-95.4% | $251.6M |
| Current Liabilities | $10.1M+13.3% | $8.9M+22.3% | $7.3M+45.6% | $5.0M-38.3% | $8.1M+494.6% | $1.4M-85.1% | $9.2M+14.8% | $8.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $259.2M-13.6% | $300.1M-6.5% | $321.1M+56.6% | $205.0M+532.5% | -$47.4M-140.3% | -$19.7M-110.1% | $194.9M+86324.3% | -$226K |
| Retained Earnings | -$181.3M-34.1% | -$135.3M-19.7% | -$113.0M-82.2% | -$62.1M+70.3% | -$209.0M-948.8% | -$19.9M+86.4% | -$146.2M-60.9% | -$90.8M |
TRML Cash Flow Statement
| Metric | Q2'25 | Q2'24 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$20.3M+3.0% | -$20.9M+10.9% | -$23.4M-150.7% | -$9.4M-73.3% | -$5.4M-113.3% | $40.5M+401.8% | -$13.4M-36.6% | -$9.8M |
| Capital Expenditures | $7K-22.2% | $9K | $0-100.0% | $2K-88.2% | $17K+100.6% | -$2.7M-893.5% | $341K-71.3% | $1.2M |
| Free Cash Flow | -$20.3M+3.0% | -$20.9M+10.9% | -$23.4M-150.6% | -$9.4M-72.8% | -$5.4M-114.3% | $37.8M+374.7% | -$13.8M-24.9% | -$11.0M |
| Investing Cash Flow | $16.3M-0.5% | $16.4M+240.1% | -$11.7M-400.3% | $3.9M+23005.9% | -$17K+100.0% | -$51.7M-920.5% | $6.3M+774.3% | $721K |
| Financing Cash Flow | $54K+1900.0% | -$3K-200.0% | -$1K-100.0% | $68.1M+1980.8% | -$3.6M-118.4% | $19.7M+26842.5% | $73K-82.3% | $412K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $3K+200.0% | $1K | $0 | N/A | N/A | N/A | N/A |
TRML Financial Ratios
| Metric | Q2'25 | Q2'24 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | -8.6%-3.5pp | -5.1%+1.1pp | -6.1% | N/A | -3.7% | N/A | -9.2% | N/A |
| Current Ratio | 24.68-5.5 | 30.18-10.2 | 40.33-1.4 | 41.76+23.1 | 18.64+12.5 | 6.10-15.5 | 21.61-9.3 | 30.86 |
| Debt-to-Equity | 0.040.0 | 0.030.0 | 0.020.0 | 0.03+4.2 | -4.19-2.7 | -1.46-1.5 | 0.06+1113.5 | -1113.49 |
| 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 Tourmaline Bio profitable?
No, Tourmaline Bio (TRML) reported a net income of -$73.2M in fiscal year 2024.
What is Tourmaline Bio's earnings per share (EPS)?
Tourmaline Bio (TRML) reported diluted earnings per share of $-2.89 for fiscal year 2024. This represents a 67.4% change compared to the previous fiscal year. 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.
What is Tourmaline Bio's EBITDA?
Tourmaline Bio (TRML) had EBITDA of -$89.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tourmaline Bio's free cash flow?
Tourmaline Bio (TRML) generated -$77.3M in free cash flow during fiscal year 2024. This represents a -174.6% 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 Tourmaline Bio's operating cash flow?
Tourmaline Bio (TRML) generated -$77.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Tourmaline Bio's total assets?
Tourmaline Bio (TRML) had $309.0M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Tourmaline Bio's capital expenditures?
Tourmaline Bio (TRML) invested $9K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Tourmaline Bio spend on research and development?
Tourmaline Bio (TRML) invested $67.0M in research and development during fiscal year 2024.
Does Tourmaline Bio buy back shares?
Yes, Tourmaline Bio (TRML) spent $4K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Tourmaline Bio have outstanding?
Tourmaline Bio (TRML) had 26M shares outstanding as of fiscal year 2024.
What is Tourmaline Bio's current ratio?
Tourmaline Bio (TRML) had a current ratio of 30.18 as of fiscal year 2024, which is generally considered healthy.
What is Tourmaline Bio's debt-to-equity ratio?
Tourmaline Bio (TRML) had a debt-to-equity ratio of 0.03 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tourmaline Bio's return on assets (ROA)?
Tourmaline Bio (TRML) had a return on assets of -23.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Tourmaline Bio's cash runway?
Based on fiscal year 2024 data, Tourmaline Bio (TRML) had $30.5M in cash against an annual operating cash burn of $77.3M. This gives an estimated cash runway of approximately 5 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 Tourmaline Bio's Piotroski F-Score?
Tourmaline Bio (TRML) has a Piotroski F-Score of 0 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Tourmaline Bio's earnings high quality?
Tourmaline Bio (TRML) has an earnings quality ratio of 1.06x, 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.