TARS - Tarsus Pharmaceuticals, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$84.00
DETAILS
HIGH:
$100.00
LOW:
$68.00
MEDIAN:
$84.00
CONSENSUS:
$84.00
UPSIDE:
34.92%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 451.4 | 183.0 | 17.4 | 25.8 | 57.0 | 0 | 0 | 0 |
| Cost of Revenue | 30.7 | 12.8 | 1.6 | 1.0 | 2.1 | 0.2 | 0.1 | 0.0 |
| Gross Profit | 420.7 | 170.1 | 15.9 | 24.9 | 55.0 | (0.2) | (0.1) | (0.0) |
| Operating Expenses | ||||||||
| R&D Expenses | 64.3 | 53.4 | 50.3 | 42.6 | 41.7 | 18.8 | 3.2 | 0.9 |
| SG&A Expenses | 427.3 | 237.3 | 108.7 | 44.9 | 25.4 | 7.9 | 1.1 | 0.4 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 491.6 | 290.7 | 159.0 | 87.6 | 67.1 | 26.7 | 4.2 | 1.3 |
| Operating Income | ||||||||
| Operating Income | (71.0) | (120.6) | (143.2) | (62.7) | (12.2) | (27.0) | (4.3) | (1.4) |
| Interest Expense | 8.9 | 7.4 | 3.2 | 2.1 | 0 | 0.2 | 0.0 | 0 |
| Interest Income | 15.7 | 15.0 | 10.3 | 3.5 | 0.0 | 0.2 | 0.0 | 0 |
| Profitability | ||||||||
| EBITDA | (53.6) | (106.5) | (131.7) | (59.7) | (13.5) | (26.6) | (4.6) | (1.3) |
| EBIT | (55.4) | (107.7) | (132.5) | (60.0) | (13.8) | (26.8) | (4.6) | (1.3) |
| Income Before Tax | (64.4) | (115.6) | (135.9) | (62.1) | (13.8) | (26.8) | (4.7) | (1.3) |
| Income Tax Expense | 2.1 | 0 | 0 | (0.0) | 0.1 | 0.0 | 0.0 | 0.0 |
| Net Income | (66.4) | (115.6) | (135.9) | (62.1) | (13.8) | (26.8) | (4.7) | (1.3) |
| Per Share Data | ||||||||
| EPS (Basic) | -1.59 | -3.07 | -4.62 | -2.52 | -0.67 | -1.32 | -0.24 | -0.31 |
| EPS (Diluted) | -1.59 | -3.07 | -4.62 | -2.52 | -0.67 | -1.32 | -0.24 | -0.31 |
| Shares Outstanding | 41.8 | 37.6 | 29.4 | 24.6 | 20.6 | 20.3 | 19.5 | 4.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 183.6 | 94.8 | 224.9 | 71.7 | 171.3 | 168.1 | 58.0 | 2.4 |
| Short-Term Investments | 233.6 | 196.6 | 2.5 | 145.4 | 0.5 | 0 | 0 | 0 |
| Net Receivables | 87.1 | 48.1 | 17.7 | 3.6 | 0.1 | 0.0 | 0.0 | 0.0 |
| Inventory | 4.4 | 2.6 | 3.1 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0.6 | 0 | 0 | 0 | 0 | 0.0 | 0.0 | 0.0 |
| Total Current Assets | 522.8 | 356.7 | 256.1 | 225.4 | 176.0 | 170.7 | 58.0 | 2.4 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 21.7 | 2.9 | 3.3 | 1.5 | 1.8 | 1.2 | 0.3 | 0.0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 7.4 | 8.3 | 3.9 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 3.9 | 3 | 0.6 | 0.4 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 6.4 | 6.1 | 1.5 | 0.6 | 1.1 | 0.1 | 0.0 | 0 |
| Total Non-Current Assets | 39.4 | 20.3 | 9.4 | 2.5 | 3.0 | 1.3 | 0.3 | 0.0 |
| Total Assets | 562.2 | 377.0 | 265.5 | 227.9 | 178.9 | 172.0 | 58.3 | 2.4 |
| Current Liabilities | ||||||||
| Account Payables | 16.4 | 27.7 | 17.8 | 5.5 | 2.9 | 2.2 | 0.5 | 0.2 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 117.5 | 0 | 0 | 0 | 0.1 | 0.3 | 0 | 0.0 |
| Total Current Liabilities | 135.7 | 80.6 | 36.9 | 15.4 | 11.5 | 5.4 | 0.8 | 0.2 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 83.0 | 71.8 | 29.8 | 19.4 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | (10.6) | 0 | 1.7 | 0.0 | 0.1 | 0.1 | 63.4 | 3.6 |
| Total Non-Current Liabilities | 83.0 | 71.8 | 31.6 | 19.5 | 0.7 | 0.6 | 63.5 | 3.6 |
| Total Liabilities | 218.7 | 152.5 | 68.5 | 35.0 | 12.2 | 6.0 | 64.3 | 3.7 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (426.6) | (360.2) | (244.7) | (108.8) | (46.7) | (32.8) | (6.0) | (1.4) |
| Accumulated Other Comprehensive Income | 0.4 | 0.2 | (0.0) | (0.1) | 0 | 0 | 0 | (0.0) |
| Total Stockholders' Equity | 343.4 | 224.5 | 197.0 | 192.9 | 166.7 | 166.0 | (6.0) | (1.4) |
| Total Liabilities & Equity | 562.2 | 377.0 | 265.5 | 227.9 | 178.9 | 172.0 | 58.3 | 2.4 |
| Debt Metrics | ||||||||
| Total Debt | 93.6 | 72.5 | 30.2 | 20.2 | 1.9 | 0.8 | 0.2 | 0 |
| Net Debt | (90.0) | (22.4) | (194.7) | (51.5) | (169.4) | (167.3) | (57.8) | (2.4) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (66.4) | (115.6) | (135.9) | (62.1) | (13.8) | (26.8) | (4.7) | (1.3) |
| Depreciation & Amortization | 1.8 | 1.2 | 0.9 | 0.3 | 0.3 | 0.1 | 0.0 | 0.0 |
| Stock-Based Compensation | 41.7 | 27.8 | 19.8 | 13.5 | 8.5 | 0.8 | 0.0 | 0.0 |
| Change in Working Capital | 14.6 | 3.8 | 0.3 | (1.0) | 1.4 | 1.5 | 0.5 | 0.1 |
| Other Non-Cash Items | (4.2) | (0.4) | (2.6) | 0.2 | 7.4 | 3.3 | 0.5 | (0.1) |
| Operating Cash Flow | (12.5) | (83.0) | (117.5) | (49.0) | 3.7 | (21.1) | (3.7) | (1.2) |
| Investing Activities | ||||||||
| Capital Expenditure | (9.9) | (1.6) | (5.5) | (0.5) | (0.6) | (0.5) | (0.2) | (0.0) |
| Acquisitions | 0 | 0 | 0 | 144.1 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (394.1) | (265.6) | (28.7) | (149.4) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 361.8 | 73 | 174.8 | 5.3 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | (5) | (4) | (144.1) | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (42.1) | (199.2) | 140.6 | (144.6) | (0.6) | (0.5) | (0.2) | (0.0) |
| Financing Activities | ||||||||
| Net Debt Issuance | 0 | 39.6 | 10 | 19.1 | 0 | 0 | 2.0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | (0.0) | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 0 | 0 | 0.4 | 0 | 0 |
| Financing Cash Flow | 143.4 | 154.7 | 130.2 | 94.0 | 0.0 | 131.8 | 59.4 | 3.6 |
| Cash Position | ||||||||
| Net Change in Cash | 88.8 | (127.6) | 153.3 | (99.7) | 3.2 | 110.2 | 55.6 | 2.4 |
| Cash at Beginning | 97.4 | 224.9 | 71.7 | 171.3 | 168.1 | 58.0 | 2.4 | 0.0 |
| Cash at End | 186.2 | 97.4 | 224.9 | 71.7 | 171.3 | 168.1 | 58.0 | 2.4 |
| Free Cash Flow | (22.3) | (84.6) | (123.0) | (49.5) | 3.2 | (21.6) | (3.8) | (1.2) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 451.4 | 183.0 | 17.4 | 25.8 | 57.0 | 0 | 0 | 0 |
| Gross Profit | 420.7 | 170.1 | 15.9 | 24.9 | 55.0 | (0.2) | (0.1) | (0.0) |
| Operating Income | (71.0) | (120.6) | (143.2) | (62.7) | (12.2) | (27.0) | (4.3) | (1.4) |
| Net Income | (66.4) | (115.6) | (135.9) | (62.1) | (13.8) | (26.8) | (4.7) | (1.3) |
| EPS (Diluted) | -1.59 | -3.07 | -4.62 | -2.52 | -0.67 | -1.32 | -0.24 | -0.31 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 183.6 | 94.8 | 224.9 | 71.7 | 171.3 | 168.1 | 58.0 | 2.4 |
| Total Assets | 562.2 | 377.0 | 265.5 | 227.9 | 178.9 | 172.0 | 58.3 | 2.4 |
| Total Debt | 93.6 | 72.5 | 30.2 | 20.2 | 1.9 | 0.8 | 0.2 | 0 |
| Stockholders' Equity | 343.4 | 224.5 | 197.0 | 192.9 | 166.7 | 166.0 | (6.0) | (1.4) |
| Cash Flow | ||||||||
| Operating Cash Flow | (12.5) | (83.0) | (117.5) | (49.0) | 3.7 | (21.1) | (3.7) | (1.2) |
| Capital Expenditure | (9.9) | (1.6) | (5.5) | (0.5) | (0.6) | (0.5) | (0.2) | (0.0) |
| Free Cash Flow | (22.3) | (84.6) | (123.0) | (49.5) | 3.2 | (21.6) | (3.8) | (1.2) |