Therapeuticsmd Inc Financials
This page shows Therapeuticsmd Inc (TXMD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
TherapeuticsMD now operates more like a balance-sheet repair exercise than a sales-driven business, with cash preservation replacing commercial scale as the key mechanic.
From FY2023 to FY2025, operating cash flow swung from-$23.1M to$2.5M . Because net losses also narrowed and the current ratio reached 3.0x, the company’s immediate challenge has shifted from cash burn toward proving that a very small revenue base can still sustainably support a public-company cost structure.
Between FY2023 and FY2025, operating loss improved from
FY2025 shows a conservative balance-sheet posture: liabilities were
Financial Health Signals
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 Therapeuticsmd 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.
Therapeuticsmd Inc scores -34.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($23.3M) relative to total liabilities ($10.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Therapeuticsmd Inc passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Therapeuticsmd Inc generates $-4.31 in operating cash flow ($2.5M OCF vs -$569K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Therapeuticsmd Inc earns $-548.8 in operating income for every $1 of interest expense (-$4.4M vs $8K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Therapeuticsmd Inc generated $3.0M in revenue in fiscal year 2025. This represents an increase of 71.6% from the prior year.
Therapeuticsmd Inc's EBITDA was -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 28.5% from the prior year.
Therapeuticsmd Inc reported -$569K in net income in fiscal year 2025. This represents an increase of 73.9% from the prior year.
Therapeuticsmd Inc earned $-0.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 73.7% from the prior year.
Cash & Balance Sheet
Therapeuticsmd Inc held $7.5M in cash against $0 in long-term debt as of fiscal year 2025.
Therapeuticsmd Inc had 12M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.
Margins & Returns
Therapeuticsmd Inc's operating margin was -145.3% in fiscal year 2025, reflecting core business profitability. This is up 201.8 percentage points from the prior year.
Therapeuticsmd Inc's net profit margin was -18.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 105.0 percentage points from the prior year.
Therapeuticsmd Inc's ROE was -2.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.8 percentage points from the prior year.
Capital Allocation
TXMD Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $724K-18.9% | $893K+13.9% | $784K-17.6% | $952K+142.2% | $393K-41.1% | $667K+21.9% | $547K+133.8% | $234K |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.4M-49.9% | $2.7M+78.0% | $1.5M-2.1% | $1.6M+43.5% | $1.1M+323.9% | $255K-83.9% | $1.6M+0.2% | $1.6M |
| Operating Income | -$723K+53.4% | -$1.6M-80.0% | -$862K-24.0% | -$695K+45.7% | -$1.3M-22.3% | -$1.0M+7.7% | -$1.1M+59.3% | -$2.8M |
| Interest Expense | N/A | $1K-66.7% | $3K+50.0% | $2K0.0% | $2K | N/A | $3K-40.0% | $5K |
| Income Tax | -$32K | N/A | N/A | N/A | -$32K | N/A | N/A | N/A |
| Net Income | $95K+115.3% | -$619K-507.2% | $152K-72.4% | $551K+184.4% | -$653K-359.1% | $252K+141.4% | -$609K+44.1% | -$1.1M |
| EPS (Diluted) | $0.01 | N/A | $0.01-80.0% | $0.05+183.3% | $-0.06 | N/A | $-0.05+44.4% | $-0.09 |
TXMD Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $37.6M-0.2% | $37.7M-2.6% | $38.7M+0.4% | $38.5M+0.7% | $38.2M-1.5% | $38.8M | N/A | $40.1M |
| Current Assets | $15.3M+5.7% | $14.4M-0.4% | $14.5M+7.7% | $13.5M+7.6% | $12.5M+2.1% | $12.3M | N/A | $11.8M |
| Cash & Equivalents | $8.4M+12.5% | $7.5M+5.2% | $7.1M+17.2% | $6.1M+5.6% | $5.7M+13.6% | $5.1M+0.2% | $5.0M-3.5% | $5.2M |
| 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 | $10.6M-1.6% | $10.8M-4.0% | $11.2M+0.1% | $11.2M-2.5% | $11.5M+0.4% | $11.5M | N/A | $12.5M |
| Current Liabilities | $4.9M+2.6% | $4.8M-3.2% | $4.9M+6.1% | $4.7M-1.7% | $4.7M-8.2% | $5.2M | N/A | $5.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $27.0M+0.4% | $26.9M-2.1% | $27.4M+0.6% | $27.3M+2.1% | $26.7M-2.3% | $27.4M+1.0% | $27.1M-2.1% | $27.7M |
| Retained Earnings | -$952.3M0.0% | -$952.4M-0.1% | -$951.8M0.0% | -$951.9M+0.1% | -$952.5M-0.1% | -$951.8M | N/A | -$951.5M |
TXMD Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $944K+151.7% | $375K-62.5% | $999K+162.2% | $381K-45.5% | $699K+4011.8% | $17K+123.9% | -$71K-104.9% | $1.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 |
TXMD 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 | -99.9%+73.9pp | -173.8%-63.9pp | -109.9%-36.9pp | -73.0%+253.0pp | -325.9%-169.0pp | -157.0%+50.3pp | -207.3%+984.6pp | -1191.9% |
| Net Margin | 13.1%+82.4pp | -69.3%-88.7pp | 19.4%-38.5pp | 57.9%+224.0pp | -166.2%-203.9pp | 37.8%+149.1pp | -111.3%+354.5pp | -465.8% |
| Return on Equity | 0.4%+2.7pp | -2.3%-2.9pp | 0.5%-1.5pp | 2.0%+4.5pp | -2.4%-3.4pp | 0.9%+3.2pp | -2.3%+1.7pp | -3.9% |
| Return on Assets | 0.3%+1.9pp | -1.6%-2.0pp | 0.4%-1.0pp | 1.4%+3.1pp | -1.7%-2.4pp | 0.7% | N/A | -2.7% |
| Current Ratio | 3.11+0.1 | 3.02+0.1 | 2.93+0.0 | 2.89+0.2 | 2.64+0.3 | 2.37 | N/A | 2.03 |
| Debt-to-Equity | 0.390.0 | 0.400.0 | 0.410.0 | 0.41-0.0 | 0.43+0.0 | 0.42 | N/A | 0.45 |
| 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
What is Therapeuticsmd Inc's annual revenue?
Therapeuticsmd Inc (TXMD) reported $3.0M in total revenue for fiscal year 2025. This represents a 71.6% 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 Therapeuticsmd Inc's revenue growing?
Therapeuticsmd Inc (TXMD) revenue grew by 71.6% year-over-year, from $1.8M to $3.0M in fiscal year 2025.
Is Therapeuticsmd Inc profitable?
No, Therapeuticsmd Inc (TXMD) reported a net income of -$569K in fiscal year 2025, with a net profit margin of -18.8%.
What is Therapeuticsmd Inc's EBITDA?
Therapeuticsmd Inc (TXMD) had EBITDA of -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Therapeuticsmd Inc's operating margin?
Therapeuticsmd Inc (TXMD) had an operating margin of -145.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Therapeuticsmd Inc's net profit margin?
Therapeuticsmd Inc (TXMD) had a net profit margin of -18.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Therapeuticsmd Inc's return on equity (ROE)?
Therapeuticsmd Inc (TXMD) has a return on equity of -2.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Therapeuticsmd Inc's operating cash flow?
Therapeuticsmd Inc (TXMD) generated $2.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Therapeuticsmd Inc's total assets?
Therapeuticsmd Inc (TXMD) had $37.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Therapeuticsmd Inc's current ratio?
Therapeuticsmd Inc (TXMD) had a current ratio of 3.02 as of fiscal year 2025, which is generally considered healthy.
What is Therapeuticsmd Inc's debt-to-equity ratio?
Therapeuticsmd Inc (TXMD) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Therapeuticsmd Inc's return on assets (ROA)?
Therapeuticsmd Inc (TXMD) had a return on assets of -1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Therapeuticsmd Inc's Altman Z-Score?
Therapeuticsmd Inc (TXMD) has an Altman Z-Score of -34.11, placing it in the Distress Zone (elevated 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.
What is Therapeuticsmd Inc's Piotroski F-Score?
Therapeuticsmd Inc (TXMD) has a Piotroski F-Score of 5 out of 7 computable signals; 2 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.
Are Therapeuticsmd Inc's earnings high quality?
Therapeuticsmd Inc (TXMD) has an earnings quality ratio of -4.31x, considered mixed quality. 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 Therapeuticsmd Inc cover its interest payments?
Therapeuticsmd Inc (TXMD) has an interest coverage ratio of -548.8x, 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 Therapeuticsmd Inc?
Therapeuticsmd Inc (TXMD) scores 67 out of 100 on our Financial Health Score, indicating strong 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.