Travere Therapeutics Inc Financials

TVTX

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 41/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Travere Therapeutics Inc has an operating margin of -138.9%, meaning the company retains $-139 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -267.2% the prior year.

Growth

100

Travere Therapeutics Inc's revenue surged 60.5% year-over-year to $233.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Travere Therapeutics Inc has elevated debt relative to equity (D/E of 9.06), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Travere Therapeutics Inc's current ratio of 2.08 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.

Piotroski F-Score Weak

3/9

Travere Therapeutics Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.74x

For every $1 of reported earnings, Travere Therapeutics Inc generates $0.74 in operating cash flow (-$237.5M OCF vs -$321.5M 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

-29.0x

Travere Therapeutics Inc earns $-29.0 in operating income for every $1 of interest expense (-$323.8M vs $11.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Travere Therapeutics Inc (TVTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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

$233.2M

YoY+60.5%

5Y CAGR+5.9%

10Y CAGR+23.5%

Travere Therapeutics Inc generated $233.2M in revenue in fiscal year 2024. This represents an increase of 60.5% from the prior year.

EBITDA

-$280.3M

YoY+19.8%

Travere Therapeutics Inc's EBITDA was -$280.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.8% from the prior year.

Free Cash Flow

N/A

Net Income

-$321.5M

YoY-188.6%

Travere Therapeutics Inc reported -$321.5M in net income in fiscal year 2024. This represents a decrease of 188.6% from the prior year.

EPS (Diluted)

$-4.08

YoY-172.0%

Travere Therapeutics Inc earned $-4.08 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 172.0% from the prior year.

Cash & Debt

$58.5M

YoY+0.6%

5Y CAGR-1.3%

10Y CAGR+12.4%

Travere Therapeutics Inc held $58.5M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

87M

YoY+16.0%

5Y CAGR+15.2%

10Y CAGR+12.9%

Travere Therapeutics Inc had 87M shares outstanding in fiscal year 2024. This represents an increase of 16.0% from the prior year.

Gross Margin

96.7%

YoY+4.6pp

5Y CAGR-0.3pp

10Y CAGR-1.3pp

Travere Therapeutics Inc's gross margin was 96.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.6 percentage points from the prior year.

Operating Margin

-138.9%

YoY+128.4pp

5Y CAGR-60.5pp

10Y CAGR+144.1pp

Travere Therapeutics Inc's operating margin was -138.9% in fiscal year 2024, reflecting core business profitability. This is up 128.4 percentage points from the prior year.

Net Margin

-137.9%

YoY-61.2pp

5Y CAGR-54.4pp

10Y CAGR+255.5pp

Travere Therapeutics Inc's net profit margin was -137.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 61.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$217.5M

YoY-11.2%

5Y CAGR+9.1%

10Y CAGR+16.4%

Travere Therapeutics Inc invested $217.5M in research and development in fiscal year 2024. This represents a decrease of 11.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

TVTX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$233.2M+60.5%	$145.2M+32.7%	$109.5M-17.0%	$131.8M-33.5%	$198.3M+13.1%	$175.3M
Cost of Revenue	$7.7M-32.4%	$11.4M+159.0%	$4.4M+15.8%	$3.8M-37.7%	$6.1M+17.0%	$5.2M
Gross Profit	$225.4M+68.5%	$133.8M+27.4%	$105.0M-17.9%	$128.0M-33.4%	$192.2M+13.0%	$170.1M
R&D Expenses	$217.5M-11.2%	$245.0M+3166.5%	$7.5M-96.3%	$201.2M+52.7%	$131.8M-6.5%	$141.0M
SG&A Expenses	$264.1M-0.5%	$265.5M+34.4%	$197.5M+56.4%	$126.3M-7.0%	$135.8M+5.3%	$129.0M
Operating Income	-$323.8M+16.6%	-$388.1M-21.4%	-$319.8M-60.4%	-$199.4M-13.2%	-$176.2M-28.2%	-$137.4M
Interest Expense	$11.2M-1.0%	$11.3M+2.7%	$11.0M-44.2%	$19.7M+3.1%	$19.1M+1.6%	$18.8M
Income Tax	$120K-46.2%	$223K-28.8%	$313K-23.5%	$409K+102.1%	-$19.4M-92085.7%	-$21K
Net Income	-$321.5M-188.6%	-$111.4M+60.0%	-$278.5M-54.6%	-$180.1M-6.3%	-$169.4M-15.7%	-$146.4M
EPS (Diluted)	$-4.08-172.0%	$-1.50+65.7%	$-4.37-45.2%	$-3.01+15.4%	$-3.56-2.9%	$-3.46

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$164.9M+44.0%	$114.4M+40.0%	$81.7M+9.3%	$74.8M+38.2%	$54.1M+30.8%	$41.4M-8.2%	$45.1M+21.5%	$37.1M
Cost of Revenue	$1.6M+4.2%	$1.5M-67.5%	$4.7M+83.3%	$2.6M+23.9%	$2.1M+37.0%	$1.5M-67.0%	$4.6M+254.1%	$1.3M
Gross Profit	$163.3M+44.6%	$112.9M+46.6%	$77.1M+6.7%	$72.2M+38.8%	$52.1M+30.6%	$39.9M-1.5%	$40.5M+13.1%	$35.8M
R&D Expenses	$51.9M+5.1%	$49.4M+5.3%	$46.9M-24.5%	$62.1M+14.2%	$54.3M+9.9%	$49.4M-55.2%	$110.4M+82.2%	$60.6M
SG&A Expenses	$86.5M+13.4%	$76.2M+4.6%	$72.8M+4.8%	$69.5M+7.3%	$64.8M+0.9%	$64.2M+1.0%	$63.6M-6.2%	$67.8M
Operating Income	$24.9M+297.1%	-$12.7M+70.4%	-$42.7M+29.7%	-$60.7M+10.3%	-$67.7M+51.4%	-$139.2M-47.8%	-$94.2M-1.8%	-$92.6M
Interest Expense	$2.8M-3.3%	$2.8M-0.4%	$2.9M+1.4%	$2.8M+1.0%	$2.8M-0.4%	$2.8M+3.7%	$2.7M-3.6%	$2.8M
Income Tax	$8K-60.0%	$20K-48.7%	$39K+154.2%	-$72K-184.7%	$85K-55.5%	$191K+180.9%	$68K+466.7%	$12K
Net Income	$25.7M+301.5%	-$12.8M+69.1%	-$41.2M+31.6%	-$60.3M+14.4%	-$70.4M+48.3%	-$136.1M-50.9%	-$90.2M-159.8%	$150.7M
EPS (Diluted)	$0.28+300.0%	$-0.14+70.2%	$-0.47+33.8%	$-0.71+22.0%	$-0.91+48.3%	$-1.76-49.2%	$-1.18-159.9%	$1.97

TVTX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$594.1M-24.7%	$788.9M+17.3%	$672.6M-13.4%	$776.6M+27.9%	$607.4M+0.4%	$604.8M
Current Assets	$416.7M-32.4%	$616.8M+26.8%	$486.4M-16.5%	$582.8M+42.0%	$410.4M-4.3%	$429.1M
Cash & Equivalents	$58.5M+0.6%	$58.2M-5.7%	$61.7M-62.8%	$165.8M+95.5%	$84.8M+35.8%	$62.4M
Inventory	$41.9M+344.8%	$9.4M+108.0%	$4.5M-38.2%	$7.3M-3.9%	$7.6M+25.1%	$6.1M
Accounts Receivable	$27.1M+28.0%	$21.2M+27.2%	$16.6M+4.6%	$15.9M-0.1%	$15.9M-11.8%	$18.0M
Goodwill	$800K0.0%	$800K0.0%	$800K-11.1%	$900K0.0%	$900K-3.8%	$936K
Total Liabilities	$535.0M-9.0%	$588.1M-6.6%	$629.7M+32.7%	$474.5M+19.8%	$396.2M+3.3%	$383.6M
Current Liabilities	$200.8M+12.8%	$177.9M+25.1%	$142.2M+14.6%	$124.1M+33.9%	$92.7M-2.9%	$95.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$59.1M-70.6%	$200.8M+368.6%	$42.9M-85.8%	$302.1M+43.0%	$211.2M-4.5%	$221.2M
Retained Earnings	-$1.4B-28.6%	-$1.1B-11.0%	-$1.0B-32.4%	-$766.0M-30.7%	-$585.9M-40.7%	-$416.4M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$538.6M-3.0%	$555.3M+1.2%	$548.8M-7.6%	$594.1M+7.8%	$551.1M-16.9%	$663.5M-15.9%	$788.9M-5.3%	$832.9M
Current Assets	$371.1M-2.2%	$379.6M+1.4%	$374.2M-10.2%	$416.7M+12.9%	$369.0M-23.3%	$481.1M-22.0%	$616.8M-10.1%	$686.2M
Cash & Equivalents	$110.9M+47.6%	$75.2M+21.4%	$61.9M+5.7%	$58.5M+81.3%	$32.3M-25.3%	$43.3M-25.7%	$58.2M-59.7%	$144.2M
Inventory	$37.5M-0.4%	$37.7M-0.9%	$38.0M-9.2%	$41.9M-2.6%	$43.0M+1.6%	$42.3M+349.6%	$9.4M-54.7%	$20.8M
Accounts Receivable	$83.0M+114.3%	$38.7M+12.6%	$34.4M+26.8%	$27.1M+10.8%	$24.5M+7.6%	$22.7M+7.3%	$21.2M+45.4%	$14.6M
Goodwill	$800K0.0%	$800K0.0%	$800K0.0%	$800K0.0%	$800K0.0%	$800K0.0%	$800K0.0%	$800K
Total Liabilities	$465.0M-11.0%	$522.6M+1.3%	$516.0M-3.6%	$535.0M-0.2%	$536.0M-9.1%	$589.5M+0.2%	$588.1M+6.3%	$553.1M
Current Liabilities	$135.1M-28.7%	$189.5M+3.9%	$182.5M-9.1%	$200.8M+65.5%	$121.3M-30.0%	$173.2M-2.6%	$177.9M+27.6%	$139.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$73.6M+124.6%	$32.7M-0.2%	$32.8M-44.4%	$59.1M+290.0%	$15.1M-79.6%	$74.1M-63.1%	$200.8M-28.2%	$279.8M
Retained Earnings	-$1.5B+1.7%	-$1.5B-0.9%	-$1.5B-2.8%	-$1.4B-8.6%	-$1.3B-5.6%	-$1.3B-12.1%	-$1.1B-8.7%	-$1.0B

TVTX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$237.5M+15.2%	-$280.0M-50.3%	-$186.3M-1159.4%	-$14.8M+65.4%	-$42.7M+26.6%	-$58.2M
Capital Expenditures	N/A	$668K+249.7%	$191K-96.3%	$5.1M-24.6%	$6.8M+3370.3%	$195K
Free Cash Flow	N/A	-$280.7M-50.5%	-$186.5M-837.4%	-$19.9M+59.8%	-$49.5M+15.2%	-$58.4M
Investing Cash Flow	$99.3M+78.1%	$55.8M+271.3%	-$32.6M+76.3%	-$137.6M-124.4%	-$61.3M-408.7%	$19.9M
Financing Cash Flow	$139.4M-36.3%	$218.8M+86.1%	$117.6M-49.3%	$231.7M+81.4%	$127.7M+6248.9%	-$2.1M
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	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$14.3M+187.3%	$5.0M+111.8%	-$42.2M-18.1%	-$35.7M+11.2%	-$40.2M+66.2%	-$119.0M-68.9%	-$70.5M-19.2%	-$59.1M
Capital Expenditures	$140K	N/A	N/A	$0-100.0%	$82K	$0-100.0%	$25K+150.0%	$10K
Free Cash Flow	$14.2M	N/A	N/A	-$42.5M-5.4%	-$40.3M+66.1%	-$119.0M-68.8%	-$70.5M-19.2%	-$59.1M
Investing Cash Flow	$86.6M+1685.4%	$4.8M-88.3%	$41.3M+151.4%	-$80.3M-380.7%	$28.6M-72.7%	$104.9M+718.9%	-$16.9M-112.7%	$133.3M
Financing Cash Flow	-$65.3M-4529.8%	$1.5M-60.3%	$3.7M-97.3%	$139.1M+17690.2%	$782K+249.0%	-$525K-523.4%	$124K+119.6%	-$634K
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

TVTX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	96.7%+4.6pp	92.1%-3.8pp	96.0%-1.1pp	97.1%+0.2pp	96.9%-0.1pp	97.0%
Operating Margin	-138.9%+128.4pp	-267.2%+24.9pp	-292.2%-140.9pp	-151.3%-62.4pp	-88.8%-10.5pp	-78.3%
Net Margin	-137.9%-61.2pp	-76.7%+177.7pp	-254.4%-117.8pp	-136.6%-51.2pp	-85.4%-1.9pp	-83.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-54.1%-40.0pp	-14.1%+27.3pp	-41.4%-18.2pp	-23.2%+4.7pp	-27.9%-3.7pp	-24.2%
Current Ratio	2.08-1.4	3.47+0.0	3.42-1.3	4.70+0.3	4.43-0.1	4.50
Debt-to-Equity	9.06+6.1	2.93-11.8	14.70+13.1	1.57-0.3	1.88+0.1	1.73
FCF Margin	N/A	-193.3%-22.9pp	-170.4%-155.3pp	-15.1%+9.9pp	-25.0%+8.4pp	-33.3%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	99.0%+0.4pp	98.7%+4.4pp	94.3%-2.3pp	96.6%+0.4pp	96.2%-0.2pp	96.4%+6.5pp	89.9%-6.7pp	96.5%
Operating Margin	15.1%+26.2pp	-11.1%+41.2pp	-52.2%+29.0pp	-81.2%+43.9pp	-125.1%+211.4pp	-336.5%-127.4pp	-209.1%+40.5pp	-249.6%
Net Margin	15.6%+26.7pp	-11.1%+39.3pp	-50.4%+30.1pp	-80.6%+49.5pp	-130.1%+198.8pp	-328.9%-128.7pp	-200.1%-606.5pp	406.4%
Return on Equity	34.9%	N/A	N/A	N/A	N/A	N/A	N/A	53.9%
Return on Assets	4.8%+7.1pp	-2.3%+5.2pp	-7.5%+2.6pp	-10.1%+2.6pp	-12.8%+7.7pp	-20.5%-9.1pp	-11.4%-29.5pp	18.1%
Current Ratio	2.75+0.7	2.00-0.0	2.05-0.0	2.08-1.0	3.04+0.3	2.78-0.7	3.47-1.5	4.92
Debt-to-Equity	6.32-9.6	15.96+0.2	15.72+6.7	9.06-26.3	35.38+27.4	7.96+5.0	2.93+1.0	1.98
FCF Margin	8.6%	N/A	N/A	-67.6%+6.9pp	-74.5%+213.1pp	-287.6%-131.2pp	-156.5%+3.0pp	-159.4%

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Frequently Asked Questions

What is Travere Therapeutics Inc's annual revenue?

Travere Therapeutics Inc (TVTX) reported $233.2M in total revenue for fiscal year 2024. This represents a 60.5% 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 Travere Therapeutics Inc's revenue growing?

Travere Therapeutics Inc (TVTX) revenue grew by 60.5% year-over-year, from $145.2M to $233.2M in fiscal year 2024.

Is Travere Therapeutics Inc profitable?

No, Travere Therapeutics Inc (TVTX) reported a net income of -$321.5M in fiscal year 2024, with a net profit margin of -137.9%.

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

Travere Therapeutics Inc (TVTX) reported diluted earnings per share of $-4.08 for fiscal year 2024. This represents a -172.0% 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 Travere Therapeutics Inc's EBITDA?

Travere Therapeutics Inc (TVTX) had EBITDA of -$280.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Travere Therapeutics Inc's gross margin?

Travere Therapeutics Inc (TVTX) had a gross margin of 96.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Travere Therapeutics Inc's operating margin?

Travere Therapeutics Inc (TVTX) had an operating margin of -138.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Travere Therapeutics Inc's net profit margin?

Travere Therapeutics Inc (TVTX) had a net profit margin of -137.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Travere Therapeutics Inc's operating cash flow?

Travere Therapeutics Inc (TVTX) generated -$237.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Travere Therapeutics Inc's total assets?

Travere Therapeutics Inc (TVTX) had $594.1M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Travere Therapeutics Inc spend on research and development?

Travere Therapeutics Inc (TVTX) invested $217.5M in research and development during fiscal year 2024.

How many shares does Travere Therapeutics Inc have outstanding?

Travere Therapeutics Inc (TVTX) had 87M shares outstanding as of fiscal year 2024.

What is Travere Therapeutics Inc's current ratio?

Travere Therapeutics Inc (TVTX) had a current ratio of 2.08 as of fiscal year 2024, which is generally considered healthy.

What is Travere Therapeutics Inc's debt-to-equity ratio?

Travere Therapeutics Inc (TVTX) had a debt-to-equity ratio of 9.06 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Travere Therapeutics Inc (TVTX) had a return on assets of -54.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Travere Therapeutics Inc's cash runway?

Based on fiscal year 2024 data, Travere Therapeutics Inc (TVTX) had $58.5M in cash against an annual operating cash burn of $237.5M. This gives an estimated cash runway of approximately 3 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 Travere Therapeutics Inc's Piotroski F-Score?

Travere Therapeutics Inc (TVTX) 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 Travere Therapeutics Inc's earnings high quality?

Travere Therapeutics Inc (TVTX) has an earnings quality ratio of 0.74x, 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 Travere Therapeutics Inc cover its interest payments?

Travere Therapeutics Inc (TVTX) has an interest coverage ratio of -29.0x, 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.

How financially healthy is Travere Therapeutics Inc?

Travere Therapeutics Inc (TVTX) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.