Tevogen Bio Financials
This page shows Tevogen Bio (TVGN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Financial Health Signals
Tevogen Bio passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Tevogen Bio generates $0.47 in operating cash flow (-$12.3M OCF vs -$26.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Tevogen Bio earns $-133.6 in operating income for every $1 of interest expense (-$26.1M vs $196K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Tevogen Bio's EBITDA was -$25.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 51.8% from the prior year.
Tevogen Bio reported -$26.3M in net income in fiscal year 2025. This represents a decrease of 91.4% from the prior year.
Tevogen Bio earned $-8.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 11442.9% from the prior year.
Cash & Balance Sheet
Tevogen Bio generated -$12.4M in free cash flow in fiscal year 2025, representing cash available after capex.
Tevogen Bio held $1.3M in cash against $0 in long-term debt as of fiscal year 2025.
Tevogen Bio had 4M shares outstanding in fiscal year 2025. This represents a decrease of 97.6% from the prior year.
Margins & Returns
Capital Allocation
Tevogen Bio invested $11.1M in research and development in fiscal year 2025. This represents a decrease of 64.2% from the prior year.
Tevogen Bio invested $64K in capex in fiscal year 2025, funding long-term assets and infrastructure.
TVGN Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | $3.1M+15.2% | $2.7M-15.5% | $3.2M | N/A | $3.3M-20.9% | $4.1M-80.2% | $20.8M | N/A |
| SG&A Expenses | $2.6M-4.6% | $2.7M-61.7% | $7.2M | N/A | $2.8M-36.9% | $4.5M-48.6% | $8.7M | N/A |
| Operating Income | -$5.7M-5.2% | -$5.4M+47.4% | -$10.4M | N/A | -$6.1M+29.2% | -$8.6M+70.9% | -$29.5M | N/A |
| Interest Expense | -$62K-63.9% | -$38K-254.8% | $25K | N/A | $12K+207550.0% | $6-100.0% | $156K | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$5.7M-4.0% | -$5.5M+46.9% | -$10.4M | N/A | -$5.9M+39.1% | -$9.7M-185.8% | $11.3M | N/A |
| EPS (Diluted) | $-0.030.0% | $-0.03+57.1% | $-0.07 | N/A | $-0.03+25.0% | $-0.04+84.6% | $-0.26 | N/A |
TVGN Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.5M+5.3% | $4.3M+4.8% | $4.1M+17.7% | $3.5M-19.3% | $4.3M+29.6% | $3.3M-1.6% | $3.4M-38.9% | $5.5M |
| Current Assets | $2.1M+3.0% | $2.1M-33.0% | $3.1M+30.4% | $2.4M-33.1% | $3.5M+44.2% | $2.4M+2.0% | $2.4M+39.3% | $1.7M |
| Cash & Equivalents | $1.0M+51.3% | $685K-65.3% | $2.0M | $0-100.0% | $2.3M+105.3% | $1.1M-13.8% | $1.3M | $0 |
| 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 | $12.3M-10.4% | $13.8M+16.6% | $11.8M+16.4% | $10.1M-3.3% | $10.5M-4.2% | $10.9M+19.4% | $9.2M-90.8% | $99.9M |
| Current Liabilities | $6.7M-16.6% | $8.1M-7.3% | $8.7M-3.6% | $9.0M-13.2% | $10.4M-1.8% | $10.6M+18.7% | $8.9M-89.5% | $85.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$7.8M+17.5% | -$9.5M-22.9% | -$7.7M-15.7% | -$6.7M-7.8% | -$6.2M+19.2% | -$7.7M-32.1% | -$5.8M+93.9% | -$94.4M |
| Retained Earnings | -$135.0M-4.4% | -$129.3M-4.4% | -$123.8M-9.1% | -$113.4M-9.1% | -$103.9M-6.0% | -$98.1M-10.9% | -$88.4M+11.3% | -$99.7M |
TVGN Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.6M-14.4% | -$3.2M+3.6% | -$3.3M-8.5% | -$3.0M+19.9% | -$3.8M-27.6% | -$3.0M-37.8% | -$2.2M-9.5% | -$2.0M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$2.0M |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Financing Cash Flow | $4.0M+110.6% | $1.9M-52.5% | $4.0M+100.0% | $2.0M-60.0% | $5.0M+78.6% | $2.8M+15.3% | $2.4M+475.3% | $422K |
| 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 | $9.7M |
TVGN Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -127.4%+1.5pp | -128.9%+125.6pp | -254.5% | N/A | -137.2%+154.7pp | -291.9%-626.8pp | 334.9% | N/A |
| Current Ratio | 0.31+0.1 | 0.26-0.1 | 0.35+0.1 | 0.26-0.1 | 0.34+0.1 | 0.23-0.0 | 0.27+0.2 | 0.02 |
| Debt-to-Equity | -1.57-0.1 | -1.45+0.1 | -1.530.0 | -1.52+0.2 | -1.69-0.3 | -1.43+0.2 | -1.58-0.5 | -1.06 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$8.2M), 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.
Note: The current ratio is below 1.0 (0.22), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is Tevogen Bio profitable?
No, Tevogen Bio (TVGN) reported a net income of -$26.3M in fiscal year 2025.
What is Tevogen Bio's EBITDA?
Tevogen Bio (TVGN) had EBITDA of -$25.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tevogen Bio's free cash flow?
Tevogen Bio (TVGN) generated -$12.4M 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 Tevogen Bio's operating cash flow?
Tevogen Bio (TVGN) generated -$12.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Tevogen Bio's total assets?
Tevogen Bio (TVGN) had $4.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tevogen Bio's capital expenditures?
Tevogen Bio (TVGN) invested $64K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tevogen Bio spend on research and development?
Tevogen Bio (TVGN) invested $11.1M in research and development during fiscal year 2025.
What is Tevogen Bio's current ratio?
Tevogen Bio (TVGN) had a current ratio of 0.22 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Tevogen Bio's debt-to-equity ratio?
Tevogen Bio (TVGN) had a debt-to-equity ratio of -1.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tevogen Bio's return on assets (ROA)?
Tevogen Bio (TVGN) had a return on assets of -599.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tevogen Bio's cash runway?
Based on fiscal year 2025 data, Tevogen Bio (TVGN) had $1.3M in cash against an annual operating cash burn of $12.3M. 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.
Why is Tevogen Bio's debt-to-equity ratio negative or unusual?
Tevogen Bio (TVGN) has negative shareholder equity of -$8.2M as of fiscal year 2025, 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 Tevogen Bio's Piotroski F-Score?
Tevogen Bio (TVGN) has a Piotroski F-Score of 2 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 Tevogen Bio's earnings high quality?
Tevogen Bio (TVGN) has an earnings quality ratio of 0.47x, 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 Tevogen Bio cover its interest payments?
Tevogen Bio (TVGN) has an interest coverage ratio of -133.6x, 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.