Trevena Inc Financials

TRVN

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2024 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

3/9

Trevena Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.82x

For every $1 of reported earnings, Trevena Inc generates $0.82 in operating cash flow (-$33.0M OCF vs -$40.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-9.7x

Trevena Inc earns $-9.7 in operating income for every $1 of interest expense (-$35.3M vs $3.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Trevena Inc (TRVN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$35.0M

YoY+37.6%

Trevena Inc's EBITDA was -$35.0M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.6% from the prior year.

Free Cash Flow

-$33.1M

YoY+35.8%

Trevena Inc generated -$33.1M in free cash flow in fiscal year 2023, representing cash available after capex. This represents an increase of 35.8% from the prior year.

Net Income

-$40.3M

YoY+24.9%

Trevena Inc reported -$40.3M in net income in fiscal year 2023. This represents an increase of 24.9% from the prior year.

EPS (Diluted)

$-3.16

Trevena Inc earned $-3.16 per diluted share (EPS) in fiscal year 2023. This represents an increase of 58.4% from the prior year.

Cash & Debt

$33.0M

YoY-18.1%

5Y CAGR-0.7%

10Y CAGR-1.4%

Trevena Inc held $33.0M in cash against $30.8M in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

691,109

Trevena Inc had 691,109 shares outstanding in fiscal year 2023. This represents a decrease of 91.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$16.3M

YoY-10.3%

5Y CAGR+0.6%

10Y CAGR-1.4%

Trevena Inc invested $16.3M in research and development in fiscal year 2023. This represents a decrease of 10.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$41K

YoY+46.4%

5Y CAGR-24.7%

10Y CAGR-11.6%

Trevena Inc invested $41K in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents an increase of 46.4% from the prior year.

TRVN Income Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	N/A	N/A	$567K-81.5%	$3.1M+9800.0%	$31K-99.5%	$5.7M
Cost of Revenue	$1.7M-44.7%	$3.0M+216.4%	$954K+424.2%	$182K	N/A	N/A
Gross Profit	N/A	N/A	-$387K-113.4%	$2.9M	N/A	N/A
R&D Expenses	$16.3M-10.3%	$18.2M+35.6%	$13.4M+2.3%	$13.1M-1.3%	$13.3M-16.0%	$15.8M
SG&A Expenses	$20.4M-41.2%	$34.7M-8.9%	$38.1M+98.0%	$19.2M+45.7%	$13.2M-30.4%	$19.0M
Operating Income	-$35.3M+37.4%	-$56.4M-8.6%	-$51.9M-76.1%	-$29.5M-10.9%	-$26.6M+12.8%	-$30.5M
Interest Expense	$3.6M+190.1%	$1.3M+125500.0%	$1K-96.6%	$29K-96.9%	$931K-58.3%	$2.2M
Income Tax	$318K	N/A	N/A	$300K	N/A	$745K
Net Income	-$40.3M+24.9%	-$53.7M-4.0%	-$51.6M-75.7%	-$29.4M-18.1%	-$24.9M+19.2%	-$30.8M
EPS (Diluted)	$-3.16	$-7.59+3.9%	$-7.90-3334.8%	$-0.23	N/A	N/A

Metric	Q3'24	Q3'23	Q2'23	Q4'22	Q3'22	Q1'22	Q4'21	Q3'21
Revenue	N/A	N/A	$3.0M	N/A	N/A	$20K+2100.0%	-$1K-100.6%	$181K
Cost of Revenue	$114K-34.9%	$175K+98.9%	$88K	N/A	$2.4M+1044.0%	$207K-38.0%	$334K+67.8%	$199K
Gross Profit	N/A	N/A	$2.9M	N/A	N/A	-$187K+44.2%	-$335K-1761.1%	-$18K
R&D Expenses	$1.9M-56.2%	$4.3M+6.7%	$4.0M	N/A	$5.3M+0.1%	$5.3M+33.6%	$3.9M+15.7%	$3.4M
SG&A Expenses	$3.9M-15.1%	$4.6M-11.0%	$5.1M	N/A	$7.7M-30.2%	$11.0M+12.8%	$9.8M-6.5%	$10.4M
Operating Income	-$5.6M+36.8%	-$8.8M-42.5%	-$6.2M	N/A	-$15.8M+4.3%	-$16.5M-17.3%	-$14.0M-1.2%	-$13.9M
Interest Expense	$1K-99.5%	$210K-81.3%	$1.1M	N/A	$401K	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	-$4.9M+37.7%	-$7.9M+1.0%	-$8.0M	N/A	-$15.3M+6.7%	-$16.4M-17.5%	-$14.0M-1.3%	-$13.8M
EPS (Diluted)	$-5.79+59.2%	$-14.20	$-0.69	N/A	$-2.24+9.7%	$-2.48	$-7.67	$-0.08

TRVN Balance Sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$40.6M-16.6%	$48.7M-39.2%	$80.1M-37.3%	$127.7M+171.8%	$47.0M-29.6%	$66.8M
Current Assets	$35.2M-14.2%	$41.0M-42.0%	$70.7M-40.6%	$119.0M+217.6%	$37.5M-39.6%	$62.1M
Cash & Equivalents	$33.0M-18.1%	$40.3M-41.0%	$68.2M-38.4%	$110.7M+229.4%	$33.6M-1.7%	$34.2M
Inventory	$3.1M+242.3%	$906K-61.5%	$2.4M	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$71K	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$48.3M+45.9%	$33.1M+113.5%	$15.5M-34.5%	$23.7M+39.9%	$16.9M-33.0%	$25.3M
Current Liabilities	$7.6M-13.5%	$8.7M-4.9%	$9.2M-44.5%	$16.6M+81.9%	$9.1M-47.9%	$17.5M
Long-Term Debt	$30.8M+129.4%	$13.4M	N/A	N/A	N/A	$4.8M
Total Equity	-$7.7M-149.1%	$15.6M-75.9%	$64.6M-37.9%	$104.1M+246.0%	$30.1M-27.6%	$41.5M
Retained Earnings	-$588.1M-7.4%	-$547.8M-10.9%	-$494.1M-11.7%	-$442.5M-7.1%	-$413.1M-6.4%	-$388.3M

Metric	Q3'24	Q3'23	Q2'23	Q4'22	Q3'22	Q1'22	Q4'21	Q3'21
Total Assets	$19.2M-52.7%	$40.6M+4.5%	$38.9M-20.2%	$48.7M-4.6%	$51.0M-20.8%	$64.4M-19.6%	$80.1M-12.6%	$91.6M
Current Assets	$14.7M-58.1%	$35.2M+6.8%	$33.0M-19.6%	$41.0M-3.6%	$42.5M-21.6%	$54.2M-23.3%	$70.7M-14.2%	$82.4M
Cash & Equivalents	$13.5M-59.2%	$33.0M+15.1%	$28.6M-28.9%	$40.3M+61.2%	$25.0M-50.0%	$50.0M-26.8%	$68.2M-14.7%	$80.0M
Inventory	$1.2M-62.7%	$3.1M+244.2%	$901K-0.6%	$906K+15.4%	$785K-71.4%	$2.7M+16.7%	$2.4M+79.5%	$1.3M
Accounts Receivable	N/A	$179K	N/A	N/A	N/A	N/A	N/A	$103K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$42.5M-11.9%	$48.3M+66.0%	$29.1M-12.1%	$33.1M+13.5%	$29.2M+94.1%	$15.0M-3.1%	$15.5M+11.2%	$13.9M
Current Liabilities	$6.1M-19.4%	$7.6M-7.6%	$8.2M-6.4%	$8.7M-5.7%	$9.3M+3.7%	$8.9M-2.8%	$9.2M+23.9%	$7.4M
Long-Term Debt	$32.0M+3.8%	$30.8M+117.3%	$14.2M+5.6%	$13.4M+0.5%	$13.4M	N/A	N/A	N/A
Total Equity	-$23.3M-204.4%	-$7.7M-178.3%	$9.8M-37.3%	$15.6M-28.6%	$21.9M-55.8%	$49.4M-23.6%	$64.6M-16.8%	$77.7M
Retained Earnings	-$605.6M-3.0%	-$588.1M-4.3%	-$563.6M-2.9%	-$547.8M-1.3%	-$540.8M-5.9%	-$510.5M-3.3%	-$494.1M-2.9%	-$480.1M

TRVN Cash Flow Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$33.0M+35.8%	-$51.5M-2.5%	-$50.2M-134.6%	-$21.4M+9.6%	-$23.7M+6.7%	-$25.4M
Capital Expenditures	$41K+46.4%	$28K+75.0%	$16K-40.7%	$27K	N/A	$169K
Free Cash Flow	-$33.1M+35.8%	-$51.5M-2.6%	-$50.2M-134.4%	-$21.4M	N/A	-$25.5M
Investing Cash Flow	-$41K-327.8%	$18K+212.5%	-$16K-100.5%	$3.5M-86.4%	$25.6M+21.8%	$21.0M
Financing Cash Flow	$26.3M+11.9%	$23.5M+203.9%	$7.7M-91.9%	$95.0M+3905.4%	-$2.5M-112.1%	$20.6M
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	Q3'24	Q3'23	Q2'23	Q4'22	Q3'22	Q1'22	Q4'21	Q3'21
Operating Cash Flow	-$4.5M+24.8%	-$6.0M+17.4%	-$7.3M+32.0%	-$10.7M-0.5%	-$10.6M+41.9%	-$18.3M-44.7%	-$12.6M-13.4%	-$11.1M
Capital Expenditures	N/A	$21K	N/A	$0	N/A	N/A	$0	N/A
Free Cash Flow	N/A	-$6.0M	N/A	-$10.7M	N/A	N/A	-$12.6M	N/A
Investing Cash Flow	N/A	-$21K	N/A	$18.0M+50.1%	$12.0M	N/A	$1.2M+398.5%	-$390K
Financing Cash Flow	$1.7M-58.3%	$4.0M-38.0%	$6.5M-18.3%	$8.0M+623.3%	$1.1M+55100.0%	-$2K+99.3%	-$271K-13450.0%	-$2K
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

TRVN Financial Ratios

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	N/A	N/A	-68.3%-162.3pp	94.1%	N/A	N/A
Operating Margin	N/A	N/A	-9157.9%-8197.1pp	-960.7%+84781.2pp	-85741.9%-85209.9pp	-532.1%
Net Margin	N/A	N/A	-9098.4%-8141.5pp	-957.0%+79272.1pp	-80229.0%-79692.0pp	-537.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-99.2%+11.0pp	-110.3%-45.9pp	-64.4%-41.4pp	-23.0%+29.9pp	-52.9%-6.8pp	-46.1%
Current Ratio	4.66-0.0	4.70-3.0	7.70+0.5	7.19+3.1	4.12+0.6	3.55
Debt-to-Equity	-4.02-4.9	0.86+0.6	0.24+0.0	0.23-0.3	0.56+0.4	0.12
FCF Margin	N/A	N/A	-8855.9%-8157.9pp	-698.0%	N/A	-445.6%

Metric	Q3'24	Q3'23	Q2'23	Q4'22	Q3'22	Q1'22	Q4'21	Q3'21
Gross Margin	N/A	N/A	97.1%	N/A	N/A	-935.0%	N/A	-9.9%
Operating Margin	N/A	N/A	-206.5%	N/A	N/A	-82300.0%	N/A	-7657.5%
Net Margin	N/A	N/A	-267.1%	N/A	N/A	-81945.0%	N/A	-7608.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-25.7%-8.2pp	-17.6%+3.0pp	-20.6%	N/A	-30.0%-4.5pp	-25.4%-8.0pp	-17.4%-2.4pp	-15.0%
Current Ratio	2.42-2.2	4.66+0.6	4.03-0.7	4.70+0.1	4.60-1.5	6.08-1.6	7.70-3.4	11.11
Debt-to-Equity	-1.37+2.7	-4.02-5.5	1.45+0.6	0.86+0.2	0.61+0.3	0.30+0.1	0.24+0.1	0.18
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$7.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

Is Trevena Inc profitable?

No, Trevena Inc (TRVN) reported a net income of -$40.3M in fiscal year 2023.

What is Trevena Inc's earnings per share (EPS)?

Trevena Inc (TRVN) reported diluted earnings per share of $-3.16 for fiscal year 2023. 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 Trevena Inc's EBITDA?

Trevena Inc (TRVN) had EBITDA of -$35.0M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Trevena Inc have?

As of fiscal year 2023, Trevena Inc (TRVN) had $33.0M in cash and equivalents against $30.8M in long-term debt.

What is Trevena Inc's free cash flow?

Trevena Inc (TRVN) generated -$33.1M in free cash flow during fiscal year 2023. This represents a 35.8% 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 Trevena Inc's operating cash flow?

Trevena Inc (TRVN) generated -$33.0M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

What are Trevena Inc's total assets?

Trevena Inc (TRVN) had $40.6M in total assets as of fiscal year 2023, including both current and long-term assets.

What are Trevena Inc's capital expenditures?

Trevena Inc (TRVN) invested $41K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.

How much does Trevena Inc spend on research and development?

Trevena Inc (TRVN) invested $16.3M in research and development during fiscal year 2023.

How many shares does Trevena Inc have outstanding?

Trevena Inc (TRVN) had 691,109 shares outstanding as of fiscal year 2023.

What is Trevena Inc's current ratio?

Trevena Inc (TRVN) had a current ratio of 4.66 as of fiscal year 2023, which is generally considered healthy.

What is Trevena Inc's debt-to-equity ratio?

Trevena Inc (TRVN) had a debt-to-equity ratio of -4.02 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Trevena Inc's return on assets (ROA)?

Trevena Inc (TRVN) had a return on assets of -99.2% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

What is Trevena Inc's cash runway?

Based on fiscal year 2023 data, Trevena Inc (TRVN) had $33.0M in cash against an annual operating cash burn of $33.0M. This gives an estimated cash runway of approximately 12 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.

Why is Trevena Inc's debt-to-equity ratio negative or unusual?

Trevena Inc (TRVN) has negative shareholder equity of -$7.7M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Trevena Inc's Piotroski F-Score?

Trevena Inc (TRVN) has a Piotroski F-Score of 3 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 Trevena Inc's earnings high quality?

Trevena Inc (TRVN) has an earnings quality ratio of 0.82x, 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.

Can Trevena Inc cover its interest payments?

Trevena Inc (TRVN) has an interest coverage ratio of -9.7x, meaning it can struggle to cover its interest obligations. 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.