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Taysha Gene Therapies, Inc. Financials

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

This page shows Taysha Gene Therapies, Inc. (TSHA) financial statements, including the 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).

Rhea AI TSHA FY2025

External financing, not revenue, is funding a research-heavy operating model while cash reserves rebuild the balance sheet.

In FY2025, a $274.6M financing inflow more than covered the $93.1M operating cash burn, so liquidity improved for funding reasons rather than because the business became self-funding. That same capital reset equity from just $949K in FY2022 to $246.9M in FY2025, meaning the stronger balance sheet reflects recapitalization more than growth in the current revenue base.

With $319.8M of cash against only $26.6M of current liabilities, near-term obligations look light relative to available liquidity. At the FY2025 operating cash burn rate, that cash pile represents more than 3 years of internal funding, which matters more here than revenue-based margins because current sales are still too small to carry the cost structure.

Spending remains development-led: FY2025 R&D was $86.4M versus SG&A of $33.9M, so cash use is aimed more at advancing programs than supporting a large commercial footprint. But that balance-sheet reset came with share count expansion, as shares outstanding rose from 204.9M to 285.1M in one year.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&D Intensity Revenue Progress Burn Trend Balance Sheet 57 / 100
Financial Health Score 57/100
Scored as: Emerging companies peer group

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 Taysha Gene Therapies, 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.

Cash Runway
68
Dilution
34
R&D Intensity
93
Revenue Progress
22
Burn Trend
32
Balance Sheet
93
Altman Z-Score Safe
8.86

Taysha Gene Therapies, Inc. scores 8.86, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($96.4M). 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.

Piotroski F-Score Partial
4/8

Taysha Gene Therapies, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality
0.85x

For every $1 of reported earnings, Taysha Gene Therapies, Inc. generates $0.85 in operating cash flow (-$93.1M OCF vs -$109.0M 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
-1753.9x

Taysha Gene Therapies, Inc. earns $-1753.9 in operating income for every $1 of interest expense (-$110.5M vs $63K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$9.8M
YoY+17.3%

Taysha Gene Therapies, Inc. generated $9.8M in revenue in fiscal year 2025. This represents an increase of 17.3% from the prior year.

EBITDA
-$109.4M
YoY-21.2%

Taysha Gene Therapies, Inc.'s EBITDA was -$109.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 21.2% from the prior year.

Net Income
-$109.0M
YoY-22.1%

Taysha Gene Therapies, Inc. reported -$109.0M in net income in fiscal year 2025. This represents a decrease of 22.1% from the prior year.

EPS (Diluted)
$-0.34
YoY+5.6%

Taysha Gene Therapies, Inc. earned $-0.34 per diluted share (EPS) in fiscal year 2025. This represents an increase of 5.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$93.8M
YoY-15.0%

Taysha Gene Therapies, Inc. generated -$93.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 15.0% from the prior year.

Cash & Debt
$319.8M
YoY+130.0%
5Y CAGR+4.9%

Taysha Gene Therapies, Inc. held $319.8M in cash against $50.1M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
285M
YoY+39.1%
5Y CAGR+49.8%

Taysha Gene Therapies, Inc. had 285M shares outstanding in fiscal year 2025. This represents an increase of 39.1% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
-1130.7%
YoY-33.1pp

Taysha Gene Therapies, Inc.'s operating margin was -1130.7% in fiscal year 2025, reflecting core business profitability. This is down 33.1 percentage points from the prior year.

Net Margin
-1115.3%
YoY-43.6pp

Taysha Gene Therapies, Inc.'s net profit margin was -1115.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 43.6 percentage points from the prior year.

Return on Equity
-44.1%
YoY+80.7pp
5Y CAGR-20.3pp

Taysha Gene Therapies, Inc.'s ROE was -44.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 80.7 percentage points from the prior year.

Capital Allocation

R&D Spending
$86.4M
YoY+30.9%
5Y CAGR+22.1%

Taysha Gene Therapies, Inc. invested $86.4M in research and development in fiscal year 2025. This represents an increase of 30.9% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$738K
YoY+97.3%
5Y CAGR+55.2%

Taysha Gene Therapies, Inc. invested $738K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 97.3% from the prior year.

TSHA Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $0 N/A $0-100.0% $2.0M-13.7% $2.3M+13.8% $2.0M+13.1% $1.8M+60.8% $1.1M
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 $33.8M N/A $25.7M+27.8% $20.1M+29.4% $15.6M+1.6% $15.3M+2.5% $14.9M-0.8% $15.1M
SG&A Expenses $9.7M N/A $8.3M-3.7% $8.6M+5.4% $8.2M+23.1% $6.6M-16.1% $7.9M+7.7% $7.3M
Operating Income -$43.5M N/A -$34.0M-27.2% -$26.8M-24.9% -$21.4M-7.5% -$19.9M+23.0% -$25.9M-21.6% -$21.3M
Interest Expense $9K N/A $15K-11.8% $17K-10.5% $19K-13.6% $22K-8.3% $24K-11.1% $27K
Income Tax $0 N/A N/A N/A $0 N/A N/A N/A
Net Income -$42.4M N/A -$32.7M-21.8% -$26.9M-24.9% -$21.5M-14.6% -$18.8M+26.4% -$25.5M-22.0% -$20.9M
EPS (Diluted) $-0.12 N/A $-0.090.0% $-0.09-12.5% $-0.08 N/A $-0.10-11.1% $-0.09

TSHA Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $300.4M-12.5% $343.3M+8.5% $316.6M-5.0% $333.3M+140.9% $138.4M-13.7% $160.4M-11.0% $180.2M-10.1% $200.4M
Current Assets $282.3M-13.1% $324.6M+8.2% $300.0M-5.2% $316.3M+162.0% $120.7M-15.1% $142.1M-12.0% $161.6M-9.5% $178.5M
Cash & Equivalents $276.6M-13.5% $319.8M+7.5% $297.3M-4.9% $312.8M+168.3% $116.6M-16.1% $139.0M-11.8% $157.7M-8.7% $172.7M
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 $88.4M-8.3% $96.4M-1.2% $97.6M+15.3% $84.6M+1.6% $83.3M-6.2% $88.8M-2.8% $91.4M-0.1% $91.5M
Current Liabilities $20.1M-24.3% $26.6M-7.3% $28.6M+12.9% $25.3M+12.4% $22.6M-14.0% $26.2M-10.6% $29.3M-14.2% $34.2M
Long-Term Debt $49.0M-2.3% $50.1M-1.5% $50.9M+23.9% $41.1M-3.3% $42.5M-3.4% $43.9M+2.3% $43.0M+13.6% $37.8M
Total Equity $211.9M-14.2% $246.9M+12.8% $219.0M-12.0% $248.7M+351.7% $55.1M-23.0% $71.5M-19.5% $88.8M-18.4% $108.9M
Retained Earnings -$753.7M-6.0% -$711.3M-4.1% -$683.4M-5.0% -$650.7M-4.3% -$623.8M-3.6% -$602.3M-3.2% -$583.5M-4.6% -$558.0M

TSHA Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$40.9M-53.0% -$26.7M-10.6% -$24.2M-19.7% -$20.2M+8.3% -$22.0M-20.3% -$18.3M+15.3% -$21.6M-0.5% -$21.5M
Capital Expenditures $24K-90.4% $250K+131.5% $108K+5300.0% $2K-99.5% $378K+19000.0% -$2K-105.7% $35K-82.6% $201K
Free Cash Flow -$40.9M-51.6% -$27.0M-11.1% -$24.3M-20.3% -$20.2M+9.9% -$22.4M-22.3% -$18.3M+15.4% -$21.6M+0.3% -$21.7M
Investing Cash Flow -$3.0M-1124.3% -$247K-414.6% -$48K-177.4% $62K+116.7% -$371K-2953.8% $13K+137.1% -$35K+82.6% -$201K
Financing Cash Flow $711K-98.6% $49.6M+463.3% $8.8M-95.9% $216.3M+416038.5% -$52K+85.4% -$357K-105.4% $6.6M-90.6% $70.5M
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

TSHA Financial Ratios

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 -1889.0% N/A N/A -1347.1%-416.5pp -930.5%+55.2pp -985.8%+462.7pp -1448.4%+467.0pp -1915.4%
Net Margin -1842.3% N/A N/A -1353.6%-418.4pp -935.2%-6.2pp -929.0%+498.5pp -1427.5%+454.5pp -1882.0%
Return on Equity -20.0% N/A -14.9%-4.1pp -10.8%+28.3pp -39.1%-12.8pp -26.3%+2.5pp -28.7%-9.5pp -19.2%
Return on Assets -14.1% N/A -10.3%-2.3pp -8.1%+7.5pp -15.6%-3.8pp -11.7%+2.5pp -14.2%-3.7pp -10.4%
Current Ratio 14.04+1.8 12.23+1.8 10.48-2.0 12.48+7.1 5.35-0.1 5.42-0.1 5.51+0.3 5.22
Debt-to-Equity 0.23+0.0 0.20-0.0 0.23+0.1 0.17-0.6 0.77+0.2 0.61+0.1 0.48+0.1 0.35
FCF Margin -1776.8% N/A N/A -1016.3%-43.3pp -973.0%-67.4pp -905.5%+305.3pp -1210.8%+741.0pp -1951.9%

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Frequently Asked Questions

Taysha Gene Therapies, Inc. (TSHA) reported $9.8M in total revenue for fiscal year 2025. This represents a 17.3% 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.

Taysha Gene Therapies, Inc. (TSHA) revenue grew by 17.3% year-over-year, from $8.3M to $9.8M in fiscal year 2025.

No, Taysha Gene Therapies, Inc. (TSHA) reported a net income of -$109.0M in fiscal year 2025, with a net profit margin of -1115.3%.

Taysha Gene Therapies, Inc. (TSHA) reported diluted earnings per share of $-0.34 for fiscal year 2025. This represents a 5.6% 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.

Taysha Gene Therapies, Inc. (TSHA) had EBITDA of -$109.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Taysha Gene Therapies, Inc. (TSHA) had $319.8M in cash and equivalents against $50.1M in long-term debt.

Taysha Gene Therapies, Inc. (TSHA) had an operating margin of -1130.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Taysha Gene Therapies, Inc. (TSHA) had a net profit margin of -1115.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Taysha Gene Therapies, Inc. (TSHA) has a return on equity of -44.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Taysha Gene Therapies, Inc. (TSHA) generated -$93.8M in free cash flow during fiscal year 2025. This represents a -15.0% 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.

Taysha Gene Therapies, Inc. (TSHA) generated -$93.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Taysha Gene Therapies, Inc. (TSHA) had $343.3M in total assets as of fiscal year 2025, including both current and long-term assets.

Taysha Gene Therapies, Inc. (TSHA) invested $738K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Taysha Gene Therapies, Inc. (TSHA) invested $86.4M in research and development during fiscal year 2025.

Taysha Gene Therapies, Inc. (TSHA) had 285M shares outstanding as of fiscal year 2025.

Taysha Gene Therapies, Inc. (TSHA) had a current ratio of 12.23 as of fiscal year 2025, which is generally considered healthy.

Taysha Gene Therapies, Inc. (TSHA) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Taysha Gene Therapies, Inc. (TSHA) had a return on assets of -31.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Taysha Gene Therapies, Inc. (TSHA) had $319.8M in cash against an annual operating cash burn of $93.1M. This gives an estimated cash runway of approximately 41 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.

Taysha Gene Therapies, Inc. (TSHA) has an Altman Z-Score of 8.86, 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.

Taysha Gene Therapies, Inc. (TSHA) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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.

Taysha Gene Therapies, Inc. (TSHA) has an earnings quality ratio of 0.85x, 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.

Taysha Gene Therapies, Inc. (TSHA) has an interest coverage ratio of -1753.9x, 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.

Taysha Gene Therapies, Inc. (TSHA) scores 57 out of 100 on our Financial Health Score, indicating moderate 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.

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