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Tectonic Therapeutic (TECX) Financials

Tectonic Therapeutic logo
$29.36 -0.29 (-0.98%)
Closing price 04:00 PM Eastern
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$29.72 +0.37 (+1.24%)
As of 05:25 PM Eastern
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Annual Income Statements for Tectonic Therapeutic

Annual Income Statements for Tectonic Therapeutic

This table shows Tectonic Therapeutic's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -106 -43 -58
Consolidated Net Income / (Loss)		 -106 -43 -58
Net Income / (Loss) Continuing Operations		 -106 -43 -58
Total Pre-Tax Income 		-106 -43 -58
Total Operating Income		 -105 -45 -58
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 105 45 58
Selling, General & Admin Expense		 33 7.68 17
Research & Development Expense		 72 37 41
Total Other Income / (Expense), net		 -0.46 2.08 0.03
Interest Expense		 - 0.15 0.11
Interest & Investment Income		 -0.30 0.58 4.26
Other Income / (Expense), net		 -0.16 1.65 -4.12
Other Gains / (Losses), net		 - - 0.03
Basic Earnings per Share		 ($2.42) ($33.76) ($6.83)
Weighted Average Basic Shares Outstanding		 43.74M 1.27M 8.49M
Diluted Earnings per Share		 ($2.42) ($33.76) ($6.83)
Weighted Average Diluted Shares Outstanding		 43.74M 1.27M 8.49M
Weighted Average Basic & Diluted Shares Outstanding		 44.09M 44.86M 18.66M
Cash Dividends to Common per Share		 - - $0.00

Quarterly Income Statements for Tectonic Therapeutic

This table shows Tectonic Therapeutic's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -23 -25 -25 -10 -10 2.64 -6.81 -13 -18 -21
Consolidated Net Income / (Loss)		 -23 -25 -25 -10 -10 2.64 -6.81 -13 -18 -21
Net Income / (Loss) Continuing Operations		 -23 -25 -25 -10 -9.99 2.84 -6.81 -13 -18 -21
Total Pre-Tax Income 		-23 -25 -25 -10 -10 2.90 -6.81 -13 -18 -21
Total Operating Income		 -23 -25 -25 -11 -10 1.32 -7.94 -11 -20 -19
Total Operating Expenses		 23 25 25 11 10 -1.32 7.94 11 20 19
Selling, General & Admin Expense		 7.07 7.12 7.89 1.87 1.98 -4.05 7.26 4.35 5.32 -0.27
Research & Development Expense		 16 18 17 8.77 8.13 2.73 0.68 7.07 14 19
Total Other Income / (Expense), net		 0.02 0.22 0.26 0.18 0.06 1.58 1.13 -1.25 1.92 -1.77
Interest & Investment Income		 0.11 0.25 0.25 0.22 0.10 0.01 1.15 0.32 1.95 0.85
Other Income / (Expense), net		 -0.10 -0.02 0.02 -0.01 -0.00 1.65 -0.01 -1.54 -0.01 -2.56
Basic Earnings per Share		 ($0.52) ($0.57) ($0.57) ($8.51) ($7.62) $2.08 ($0.15) ($4.34) ($1.20) ($2.45)
Weighted Average Basic Shares Outstanding		 43.77M 43.74M 44.04M 1.23M 1.32M 1.27M 44.79M 2.92M 14.73M 8.49M
Diluted Earnings per Share		 ($0.52) ($0.57) ($0.57) ($8.51) ($7.62) $2.08 ($0.15) ($4.34) ($1.20) ($2.45)
Weighted Average Diluted Shares Outstanding		 43.77M 43.74M 44.04M 1.23M 1.32M 1.27M 44.79M 2.92M 14.73M 8.49M
Basic & Diluted Earnings per Share		 - ($0.57) - - - $2.08 - - - ($2.45)
Weighted Average Basic & Diluted Shares Outstanding		 43.77M 44.09M 44.11M 44.53M 44.57M 44.86M 44.89M 14.73M 14.75M 18.66M

Annual Cash Flow Statements for Tectonic Therapeutic

This table details how cash moves in and out of Tectonic Therapeutic's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -97 -7.20 112
Net Cash From Operating Activities		 -97 -41 -59
Net Cash From Continuing Operating Activities		 -97 -41 -59
Net Income / (Loss) Continuing Operations		 -106 -43 -58
Consolidated Net Income / (Loss)		 -106 -43 -58
Depreciation Expense		 1.44 1.48 1.65
Non-Cash Adjustments To Reconcile Net Income		 15 1.25 7.54
Changes in Operating Assets and Liabilities, net		 -7.40 -0.58 -10
Net Cash From Investing Activities		 -0.27 -0.28 -0.16
Net Cash From Continuing Investing Activities		 -0.27 -0.28 -0.16
Purchase of Property, Plant & Equipment		 -0.27 -0.28 -0.16
Net Cash From Financing Activities		 0.26 34 172
Net Cash From Continuing Financing Activities		 0.26 34 172
Repayment of Debt		 0.00 34 -0.48
Repurchase of Common Equity		 - 0.00 0.00
Other Financing Activities, net		 0.06 0.12 172
Effect of Exchange Rate Changes		 - 0.02 -0.01
Cash Interest Paid		 1.43 0.15 0.11

Quarterly Cash Flow Statements for Tectonic Therapeutic

This table details how cash moves in and out of Tectonic Therapeutic's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -16 -24 -20 -0.80 -8.60 22 -7.54 164 -26 -18
Net Cash From Operating Activities		 -16 -24 -20 -0.26 -8.48 -12 -7.57 -15 -20 -17
Net Cash From Continuing Operating Activities		 -16 -24 -20 -0.26 -8.48 -12 -7.57 -15 -20 -17
Net Income / (Loss) Continuing Operations		 -23 -25 -25 0.06 -10 -7.87 -6.81 -21 -18 -12
Consolidated Net Income / (Loss)		 -23 -25 -25 0.06 -10 -7.87 -6.81 -21 -18 -12
Depreciation Expense		 0.35 0.34 0.33 0.41 0.37 0.37 0.00 0.71 0.42 0.51
Non-Cash Adjustments To Reconcile Net Income		 2.71 5.18 3.20 -2.10 0.56 -0.41 1.20 3.73 1.96 0.65
Changes in Operating Assets and Liabilities, net		 3.53 -4.26 1.14 1.38 0.65 -3.75 -1.96 1.56 -4.27 -5.60
Net Cash From Investing Activities		 -0.09 - -0.01 -0.21 -0.01 -0.05 0.00 - -0.15 -0.00
Net Cash From Continuing Investing Activities		 -0.09 - -0.01 -0.21 -0.01 -0.05 0.00 - -0.15 -0.00
Purchase of Property, Plant & Equipment		 -0.09 - -0.01 -0.21 -0.01 -0.05 0.00 - -0.15 -0.00
Net Cash From Financing Activities		 0.06 0.06 0.06 -0.32 -0.11 34 0.03 179 -6.29 -1.07
Net Cash From Continuing Financing Activities		 0.06 0.06 0.06 -0.32 -0.11 34 0.03 179 -6.29 -1.07
Repayment of Debt		 - - - - -0.11 34 - - -0.12 -0.12
Repurchase of Common Equity		 - - - - - - - - -6.24 7.41
Other Financing Activities, net		 - 0.06 0.04 -0.04 - 0.12 0.03 180 0.08 -8.37
Effect of Exchange Rate Changes		 - - - - - 0.02 - - 0.02 0.04
Cash Interest Paid		 0.37 0.42 0.46 -0.38 0.04 0.03 0.00 0.06 - 0.05

Annual Balance Sheets for Tectonic Therapeutic

This table presents Tectonic Therapeutic's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 104 39 153
Total Current Assets		 100 31 147
Cash & Equivalents		 93 29 141
Prepaid Expenses		 7.11 2.12 5.62
Plant, Property, & Equipment, net		 2.89 3.12 2.15
Total Noncurrent Assets		 1.10 5.39 3.90
Noncurrent Note & Lease Receivables		 - 1.44 0.92
Other Noncurrent Operating Assets		 1.10 3.96 2.98
Total Liabilities & Shareholders' Equity		 104 39 153
Total Liabilities		 29 43 12
Total Current Liabilities		 13 41 12
Accounts Payable		 0.38 0.41 0.98
Accrued Expenses		 12 8.14 7.85
Other Current Liabilities		 1.00 32 2.78
Total Noncurrent Liabilities		 15 2.52 0.52
Other Noncurrent Operating Liabilities		 0.19 2.52 0.52
Commitments & Contingencies		 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 81 0.00
Total Equity & Noncontrolling Interests		 75 -85 141
Total Preferred & Common Equity		 75 -85 141
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 75 -85 141
Common Stock		 565 5.98 289
Retained Earnings		 -489 -91 -149
Accumulated Other Comprehensive Income / (Loss)		 - -0.01 0.01

Quarterly Balance Sheets for Tectonic Therapeutic

This table presents Tectonic Therapeutic's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 129 83 134 111 92 194 169
Total Current Assets		 126 77 129 109 92 187 163
Cash & Equivalents		 116 72 125 106 90 185 159
Prepaid Expenses		 9.77 4.93 3.87 2.86 1.07 2.26 3.50
Plant, Property, & Equipment, net		 3.22 2.57 2.29 0.00 0.00 2.64 2.55
Total Noncurrent Assets		 0.04 3.18 2.71 1.35 0.51 3.88 3.57
Noncurrent Note & Lease Receivables		 - - - - - 2.08 1.03
Other Noncurrent Operating Assets		 0.04 3.18 2.71 1.35 0.51 1.81 2.54
Total Liabilities & Shareholders' Equity		 129 83 134 111 92 194 169
Total Liabilities		 31 30 12 7.66 3.51 28 18
Total Current Liabilities		 16 14 12 7.56 3.51 26 17
Accounts Payable		 1.81 0.59 1.07 0.91 0.24 4.09 2.64
Accrued Expenses		 14 11 8.34 5.00 3.04 20 13
Other Current Liabilities		 - 2.63 2.25 1.65 0.22 1.90 1.95
Total Noncurrent Liabilities		 15 16 0.13 0.11 0.00 1.54 1.04
Other Noncurrent Operating Liabilities		 - 0.35 0.13 0.11 - 1.54 1.04
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - 0.00 0.00
Total Equity & Noncontrolling Interests		 98 53 122 103 89 166 150
Total Preferred & Common Equity		 98 53 122 103 89 166 150
Preferred Stock		 - - - - 0.00 - 0.00
Total Common Equity		 98 53 122 103 89 166 150
Common Stock		 562 567 569 571 573 285 287
Retained Earnings		 -464 -514 -447 -468 -484 -118 -136
Accumulated Other Comprehensive Income / (Loss)		 - - - - - -0.06 -0.08

Annual Metrics And Ratios for Tectonic Therapeutic

This table displays calculated financial ratios and metrics derived from Tectonic Therapeutic's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 0.00% 0.00% 0.00%
EBITDA Growth		 11.36% 60.14% -45.69%
EBIT Growth		 11.19% 59.28% -44.51%
NOPAT Growth		 11.28% 57.65% -29.94%
Net Income Growth		 11.11% 59.56% -35.40%
EPS Growth		 12.95% 59.56% 79.77%
Operating Cash Flow Growth		 0.83% 58.15% -45.23%
Free Cash Flow Firm Growth		 7.95% 99.12% -10,694.18%
Invested Capital Growth		 57.25% -1,389.91% 98.59%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 2.44% 40.52% -474.26%
EBIT Q/Q Growth		 2.50% 39.64% -500.52%
NOPAT Q/Q Growth		 2.50% 37.31% -336.69%
Net Income Q/Q Growth		 2.93% 39.26% -383.85%
EPS Q/Q Growth		 2.81% 39.26% -591.37%
Operating Cash Flow Q/Q Growth		 2.24% 22.80% 22.70%
Free Cash Flow Firm Q/Q Growth		 4.46% 98.64% -422.32%
Invested Capital Q/Q Growth		 30.49% -903.31% 94.70%
Profitability Metrics		 - - -
Gross Margin		 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.60% 100.00%
Interest Burden Percent		 100.28% 99.00% 93.31%
Effective Tax Rate		 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -86.50% -120.02% -84.79%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -86.50% 15.58% -34.80%
Return on Equity Simple (ROE_SIMPLE)		 -140.49% 50.60% -41.19%
Net Operating Profit after Tax (NOPAT)		 -74 -31 -41
NOPAT Margin		 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -25.45% -21.76% -20.44%
Return On Investment Capital (ROIC_SIMPLE)		 - 36.93% -28.85%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -106 -43 -62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -104 -42 -60
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 4.97 0.00 4.84
Price to Tangible Book Value (P/TBV)		 4.97 0.00 4.84
Price to Revenue (P/Rev)		 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.20 0.00 0.00
Long-Term Debt to Equity		 0.20 0.00 0.00
Financial Leverage		 -1.03 -1.49 -1.24
Leverage Ratio		 1.26 2.01 1.41
Compound Leverage Factor		 1.26 1.99 1.31
Debt to Total Capital		 16.85% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 16.85% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% -2,011.15% 0.00%
Common Equity to Total Capital		 83.15% 2,111.15% 100.00%
Debt to EBITDA		 -0.15 0.00 0.00
Net Debt to EBITDA		 0.74 0.00 0.00
Long-Term Debt to EBITDA		 -0.15 0.00 0.00
Debt to NOPAT		 -0.21 0.00 0.00
Net Debt to NOPAT		 1.05 0.00 0.00
Long-Term Debt to NOPAT		 -0.21 0.00 0.00
Altman Z-Score		 -1.08 2.93 32.05
Noncontrolling Interest Sharing Ratio		 0.00% 112.98% 58.95%
Liquidity Ratios		 - - -
Current Ratio		 7.62 0.76 12.65
Quick Ratio		 7.06 0.70 12.17
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -77 -0.68 -73
Operating Cash Flow to CapEx		 -36,407.49% -14,581.00% -37,871.79%
Free Cash Flow to Firm to Interest Expense		 0.00 -4.44 -681.55
Operating Cash Flow to Interest Expense		 0.00 -267.64 -552.15
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -269.47 -553.61
Efficiency Ratios		 - - -
Asset Turnover		 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 -2.20 -33 -0.46
Invested Capital Turnover		 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 2.95 -31 32
Enterprise Value (EV)		 297 779 540
Market Capitalization		 374 727 681
Book Value per Share		 $1.72 ($1.90) $9.54
Tangible Book Value per Share		 $1.72 ($1.90) $9.54
Total Capital		 91 -4.01 141
Total Debt		 15 0.00 0.00
Total Long-Term Debt		 15 0.00 0.00
Net Debt		 -78 -29 -141
Capital Expenditures (CapEx)		 0.27 0.28 0.16
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.00 -39 -5.99
Debt-free Net Working Capital (DFNWC)		 87 -10 135
Net Working Capital (NWC)		 87 -10 135
Net Nonoperating Expense (NNE)		 32 12 17
Net Nonoperating Obligations (NNO)		 -78 -29 -141
Total Depreciation and Amortization (D&A)		 1.44 1.48 1.65
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($29.04) $3.24 ($6.83)
Adjusted Weighted Average Basic Shares Outstanding		 3.64M 3.69M 8.49M
Adjusted Diluted Earnings per Share		 ($29.04) $3.24 ($6.83)
Adjusted Weighted Average Diluted Shares Outstanding		 3.64M 3.71M 8.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.67M 3.74M 18.66M
Normalized Net Operating Profit after Tax (NOPAT)		 -74 -31 -41
Normalized NOPAT Margin		 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 -282.88 -580.71
NOPAT to Interest Expense		 0.00 -205.62 -379.54
EBIT Less CapEx to Interest Expense		 0.00 -284.71 -582.17
NOPAT Less CapEx to Interest Expense		 0.00 -207.45 -381.00
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Tectonic Therapeutic

This table displays calculated financial ratios and metrics derived from Tectonic Therapeutic's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 29.51% 9.45% 14.41% 62.67% 57.13% 113.37% 68.03% -19.69% -97.25% -731.75%
EBIT Growth		 29.24% 9.66% 14.45% 61.69% 56.17% 111.72% 68.44% -21.83% -94.21% -828.46%
NOPAT Growth		 29.54% 9.67% 14.27% 61.72% 56.00% 107.45% 68.51% -7.43% -94.16% -1,110.72%
Net Income Growth		 29.57% 11.31% 16.34% 62.73% 56.23% 110.56% 72.72% -21.20% -76.22% -886.45%
EPS Growth		 30.67% 13.64% 16.18% 62.73% 56.23% 110.56% 73.68% 49.00% 84.25% -217.79%
Operating Cash Flow Growth		 33.87% 8.59% 27.59% 99.11% 48.33% 50.76% 62.68% -5,724.71% -131.15% -44.30%
Free Cash Flow Firm Growth		 22.40% -4.35% 0.28% 86.62% 66.33% 254.64% 55.68% 325.66% -18.65% -243.05%
Invested Capital Growth		 59.42% 57.25% -14.14% -382.76% -3.22% -1,389.91% 51.54% -539.08% -167.34% 98.59%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 17.10% -9.75% 0.27% 58.87% 4.78% 134.23% -111.54% -53.99% -56.92% -9.62%
EBIT Q/Q Growth		 16.89% -9.53% 0.29% 57.79% 4.93% 129.28% -111.54% -62.95% -51.56% -9.84%
NOPAT Q/Q Growth		 17.24% -9.88% 0.15% 57.85% 4.86% 118.60% -108.06% -43.82% -71.94% 3.16%
Net Income Q/Q Growth		 18.13% -8.99% 0.31% 58.11% 3.84% 126.29% -109.85% -86.12% -39.82% -17.32%
EPS Q/Q Growth		 18.75% -9.62% 0.00% 58.11% 3.84% 126.29% -109.62% -2,793.33% 72.35% -104.17%
Operating Cash Flow Q/Q Growth		 43.60% -44.22% 14.32% 98.72% -3,174.52% -37.45% 5.75% -99.31% -29.95% 14.20%
Free Cash Flow Firm Q/Q Growth		 20.06% 0.48% 16.79% 79.79% -101.16% 557.09% -107.64% 202.91% -205.77% -451.11%
Invested Capital Q/Q Growth		 -404.91% 30.49% -80.55% 26.11% -11.31% -903.31% 94.13% -874.39% 53.44% 94.70%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 91.20% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 99.52% 99.03% 99.02% 98.27% 99.40% 97.84% 85.59% 97.76% 90.19% 96.33%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -74.80% -86.50% -102.99% -69.40% -70.17% -120.02% 42.73% 19.48% 16.13% -84.79%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -74.80% -86.50% -102.99% -69.40% -70.17% 15.58% 42.73% 19.48% 16.13% -34.80%
Return on Equity Simple (ROE_SIMPLE)		 -111.21% 0.00% -190.60% -68.35% -68.54% 0.00% 34.11% 16.88% 13.59% 0.00%
Net Operating Profit after Tax (NOPAT)		 -16 -18 -18 -7.44 -7.08 1.32 -5.56 -7.99 -14 -13
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -4.55% -5.83% -7.17% -2.49% -2.87% 2.49% -1.69% -3.02% -2.99% -8.79%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - -1.56% - - - -9.46%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -23 -25 -25 -11 -10 2.96 -7.95 -13 -20 -22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -23 -25 -25 -10 -9.74 3.34 -7.95 -12 -19 -21
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 3.44 4.97 9.98 4.12 8.00 0.00 7.76 0.37 2.97 4.84
Price to Tangible Book Value (P/TBV)		 3.44 4.97 9.98 4.12 8.00 0.00 7.76 0.37 2.97 4.84
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 22.74 2.19 21.86 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.40% 45.59% 4.58% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 21.64 0.00 17.78 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 21.86 0.00 18.52 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 21.78 0.00 16.75 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 23.53 0.00 12.70 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.16 0.20 0.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.16 0.20 0.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.04 -1.03 -1.04 -1.01 -1.03 -1.49 -1.04 -1.08 -1.05 -1.24
Leverage Ratio		 1.19 1.26 1.32 1.17 1.19 2.01 1.24 1.14 1.10 1.41
Compound Leverage Factor		 1.18 1.24 1.30 1.15 1.19 1.97 1.06 1.11 0.99 1.35
Debt to Total Capital		 13.42% 16.85% 22.47% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 13.42% 16.85% 22.47% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% -2,011.15% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 86.58% 83.15% 77.53% 100.00% 100.00% 2,111.15% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -0.14 -0.15 -0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.95 0.74 0.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -0.14 -0.15 -0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.20 -0.21 -0.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 1.34 1.05 0.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -0.20 -0.21 -0.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 1.86 1.47 1.81 21.69 59.29 6.78 111.35 1.26 14.11 32.93
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 112.98% 0.00% 0.00% 0.00% 58.95%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 7.80 7.62 5.40 11.05 14.44 0.76 26.17 7.21 9.39 12.65
Quick Ratio		 7.16 7.06 5.06 10.69 14.00 0.70 25.79 7.12 9.19 12.17
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -21 -21 -17 -3.47 -6.98 32 -7.61 7.83 -8.28 -46
Operating Cash Flow to CapEx		 -19,087.21% 0.00% -253,550.00% -121.03% -121,157.14% -23,314.00% 0.00% 0.00% -12,813.07% -560,700.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -86.72 -193.83 0.00 0.00 279.55 -331.16 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 -6.48 -235.58 0.00 0.00 -538.79 -784.16 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 -11.83 -235.78 0.00 0.00 -538.79 -790.28 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -3.17 -2.20 -3.97 -2.94 -3.27 -33 -1.93 -19 -8.73 -0.46
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 4.64 2.95 -0.49 -3.97 -0.10 -31 2.05 -16 -5.47 32
Enterprise Value (EV)		 236 297 472 378 717 779 598 -124 287 540
Market Capitalization		 337 374 529 503 823 727 689 62 446 681
Book Value per Share		 $2.24 $1.72 $1.20 $2.77 $2.31 ($1.90) $1.98 $3.71 $10.20 $9.54
Tangible Book Value per Share		 $2.24 $1.72 $1.20 $2.77 $2.31 ($1.90) $1.98 $3.71 $10.20 $9.54
Total Capital		 113 91 68 122 103 -4.01 89 166 150 141
Total Debt		 15 15 15 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 15 15 15 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -101 -78 -57 -125 -106 -29 -91 -185 -159 -141
Capital Expenditures (CapEx)		 0.09 0.00 0.01 0.21 0.01 0.05 0.00 0.00 0.15 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.42 -6.00 -9.37 -7.79 -4.51 -39 -2.44 -24 -14 -5.99
Debt-free Net Working Capital (DFNWC)		 110 87 63 117 102 -10 88 161 145 135
Net Working Capital (NWC)		 110 87 63 117 102 -10 88 161 145 135
Net Nonoperating Expense (NNE)		 6.88 7.35 7.30 3.01 2.97 -1.33 1.25 4.68 3.97 7.47
Net Nonoperating Obligations (NNO)		 -101 -78 -57 -125 -106 -29 -91 -185 -159 -141
Total Depreciation and Amortization (D&A)		 0.35 0.34 0.33 0.41 0.37 0.37 0.00 0.71 0.42 0.51
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($6.24) ($6.84) ($6.84) $18.36 ($5.76) $24.96 ($1.80) ($4.34) ($1.20) ($2.45)
Adjusted Weighted Average Basic Shares Outstanding		 3.65M 3.64M 3.67M 3.68M 3.71M 105.71K 3.73M 2.92M 14.73M 8.49M
Adjusted Diluted Earnings per Share		 ($6.24) ($6.84) ($6.84) $18.24 ($5.76) $24.96 ($1.80) ($4.34) ($1.20) ($2.45)
Adjusted Weighted Average Diluted Shares Outstanding		 3.65M 3.64M 3.67M 3.69M 3.71M 105.71K 3.73M 2.92M 14.73M 8.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($6.84) $0.00 $0.00 $0.00 $24.96 $0.00 $0.00 $0.00 ($2.45)
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.65M 3.67M 3.68M 3.71M 3.71M 3.74M 3.74M 14.73M 14.75M 18.66M
Normalized Net Operating Profit after Tax (NOPAT)		 -16 -18 -18 -7.44 -7.08 0.92 -5.56 -7.99 -14 -13
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 -265.98 -280.97 0.00 0.00 -462.89 -785.76 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 -186.04 -196.66 0.00 0.00 -285.53 -549.84 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 -271.33 -281.17 0.00 0.00 -462.89 -791.88 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 -191.39 -196.86 0.00 0.00 -285.53 -555.96 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Tectonic Therapeutic (TECX) — Trend snapshot from 2022 through 2024

Using the quarterly income statements, cash flow statements, and balance sheets provided, the company shows liquidity improvement from financing activities and a solid cash position, but continues to burn cash based on operating activities and R&D spend. Notably, there is no long‑term debt on the latest balance sheets, and there was a substantial cash inflow from financing in mid‑2024. Revenue remains minimal or zero in most quarters, as the company remains in a development phase. The following bullet points summarize the most impactful trends observed across the last four years of quarterly data.

  • No long‑term debt on the latest balance sheets — As of Q3 2024 (and Q2 2024), long‑term debt is reported as 0, reducing interest burden and financing risk.
  • — Net cash from continuing financing activities was about $179 million, providing a large liquidity runway to fund ongoing R&D and operations.
  • Significant cash on hand in mid‑2024 — Cash and equivalents stood around $159 million at 2024 Q3, up from earlier quarters, signaling improved liquidity headroom.
  • Substantial equity base — Total common equity near $150 million by 2024 Q3, indicating a solid equity cushion to support continued development without additional debt financing.
  • Revenue remains largely absent — Across many quarters (notably 2022–2024), total revenue is 0 in several periods, consistent with a pure development-stage company without product revenue yet.
  • R&D is the main cost driver — Research & development expenses are a dominant operating cost in most quarters, reflecting ongoing clinical development activities, often outpacing SG&A.
  • Equity dilution observed in 2024 — Weighted average shares outstanding increased in 2024 (e.g., from roughly mid‑teens of millions to higher levels by Q4 2024), suggesting dilution from equity raises used to fund operations.
  • Persistent quarterly losses in 2024 — Net income across 2024 quarters was negative (e.g., Q4 2024 around -$20.8M; Q3 2024 around -$17.7M; Q2 2024 around -$12.7M; Q1 2024 around -$6.8M), indicating continued cash burn despite liquidity cushions.
  • Negative operating cash flow in 2024 — Net cash from continuing operating activities was negative in every 2024 quarter (e.g., Q4 −$16.8M; Q3 −$19.6M; Q2 −$15.1M; Q1 −$7.6M), highlighting ongoing cash burn from operations.
  • Volatility in quarterly profitability — After a profitable Q4 2023 (net income roughly $2.6M and EPS about $2.08), 2024 quarters reverted to losses, signaling a shift back to cash burn despite prior positive quarterly results.
05/05/26 06:45 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Tectonic Therapeutic's Financials

When does Tectonic Therapeutic's fiscal year end?

According to the most recent income statement we have on file, Tectonic Therapeutic's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Tectonic Therapeutic's net income changed over the last 2 years?

Tectonic Therapeutic's net income appears to be on a downward trend, with a most recent value of -$57.98 million in 2024, falling from -$105.89 million in 2022. The previous period was -$42.82 million in 2023. See Tectonic Therapeutic's forecast for analyst expectations on what’s next for the company.

What is Tectonic Therapeutic's operating income?
Tectonic Therapeutic's total operating income in 2024 was -$58.02 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $58.02 million
How has Tectonic Therapeutic's revenue changed over the last 2 years?

Over the last 2 years, Tectonic Therapeutic's total revenue changed from $0.00 in 2022 to $0.00 in 2024, a change of 0.0%.

How much debt does Tectonic Therapeutic have?

Tectonic Therapeutic's total liabilities were at $12.13 million at the end of 2024, a 72.1% decrease from 2023, and a 57.6% decrease since 2022.

How much cash does Tectonic Therapeutic have?

In the past 2 years, Tectonic Therapeutic's cash and equivalents has ranged from $28.77 million in 2023 to $141.24 million in 2024, and is currently $141.24 million as of their latest financial filing in 2024.

How has Tectonic Therapeutic's book value per share changed over the last 2 years?

Over the last 2 years, Tectonic Therapeutic's book value per share changed from 1.72 in 2022 to 9.54 in 2024, a change of 454.2%.


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Financial statements for NASDAQ:TECX last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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