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Tango Therapeutics (TNGX) Financials

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$21.44 +1.44 (+7.19%)
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Annual Income Statements for Tango Therapeutics

Annual Income Statements for Tango Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -52 -59 -111 -98 -130 -102
Consolidated Net Income / (Loss)		 -52 -58 -108 -102 -130 -102
Net Income / (Loss) Continuing Operations		 -52 -58 -108 -102 -130 -102
Total Pre-Tax Income 		-52 -58 -108 -102 -130 -102
Total Operating Income		 -52 -58 -111 -114 -146 -111
Total Gross Profit		 7.66 37 25 37 42 62
Total Revenue		 7.66 37 25 37 42 62
Operating Revenue		 7.66 37 25 37 42 62
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 60 95 136 151 188 174
Selling, General & Admin Expense		 9.87 18 30 36 44 42
Research & Development Expense		 50 78 106 115 144 132
Total Other Income / (Expense), net		 0.23 0.25 2.95 13 16 9.70
Interest Expense		 -0.11 -0.50 -1.46 -6.62 -7.89 -5.63
Other Income / (Expense), net		 0.12 -0.25 1.49 5.94 7.61 4.07
Income Tax Expense		 0.00 0.29 0.05 0.13 0.21 0.00
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 -0.01 0.78 2.94 -3.89 -0.15 0.11
Basic Earnings per Share		 ($1.63) ($0.94) ($1.23) ($1.08) ($1.19) ($0.87)
Weighted Average Basic Shares Outstanding		 31.93M 62.11M 87.82M 94.57M 109.23M 116.17M
Diluted Earnings per Share		 ($1.63) ($0.94) ($1.23) ($1.08) ($1.19) ($0.87)
Weighted Average Diluted Shares Outstanding		 31.93M 62.11M 87.82M 94.57M 109.23M 116.17M
Weighted Average Basic & Diluted Shares Outstanding		 31.93M 62.11M 88.20M 106.72M 108.11M 142.69M

Quarterly Income Statements for Tango Therapeutics

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -21 -30 -38 -26 -28 -38 -40 -39 16 -39 -46
Consolidated Net Income / (Loss)		 -22 -31 -38 -26 -29 -38 -40 -39 16 -39 -46
Net Income / (Loss) Continuing Operations		 -22 -31 -38 -26 -29 -38 -40 -39 16 -39 -46
Total Pre-Tax Income 		-22 -31 -38 -25 -29 -38 -40 -39 16 -39 -46
Total Operating Income		 -26 -35 -42 -30 -33 -41 -43 -41 14 -42 -49
Total Gross Profit		 11 5.43 6.47 20 12 4.12 5.39 3.18 54 - 0.00
Total Revenue		 11 5.43 6.47 20 12 4.12 5.39 3.18 54 - 0.00
Operating Revenue		 11 - 6.47 20 12 - 5.39 3.18 54 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 36 40 49 49 44 45 48 44 40 42 49
Selling, General & Admin Expense		 9.21 9.11 11 11 11 11 11 11 8.92 9.76 15
Research & Development Expense		 27 31 38 39 33 34 36 33 31 32 34
Total Other Income / (Expense), net		 3.39 4.30 4.38 4.07 3.77 3.29 2.69 2.15 1.80 3.06 3.26
Interest Expense		 -1.87 -2.24 -2.20 -2.07 -1.81 -1.81 -1.61 -1.24 -1.10 -1.68 -2.18
Other Income / (Expense), net		 1.51 2.06 2.18 2.00 1.96 1.48 1.07 0.91 0.71 1.38 1.08
Income Tax Expense		 0.02 0.05 0.04 0.07 0.05 0.05 0.03 0.04 -0.01 -0.06 0.00
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 -0.84 -0.87 0.44 0.08 -1.08 0.41 0.14 0.10 -0.03 -0.10 0.34
Basic Earnings per Share		 ($0.23) ($0.30) ($0.35) ($0.24) ($0.27) ($0.33) ($0.36) ($0.35) $0.14 ($0.30) ($0.32)
Weighted Average Basic Shares Outstanding		 97.03M 94.57M 108.17M 108.31M 108.51M 109.23M 110.30M 110.54M 110.97M 116.17M 143.58M
Diluted Earnings per Share		 ($0.23) ($0.30) ($0.35) ($0.24) ($0.27) ($0.33) ($0.36) ($0.35) $0.13 ($0.29) ($0.32)
Weighted Average Diluted Shares Outstanding		 97.03M 94.57M 108.17M 108.31M 108.51M 109.23M 110.30M 110.54M 117.78M 116.17M 143.58M
Weighted Average Basic & Diluted Shares Outstanding		 - 106.72M - 107.14M 107.42M 108.11M 108.39M 111.26M 134.59M 142.69M 144.65M

Annual Cash Flow Statements for Tango Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.49 114 -81 5.85 2.29 43
Net Cash From Operating Activities		 70 -60 -109 -118 -132 -139
Net Cash From Continuing Operating Activities		 70 -60 -109 -118 -132 -139
Net Income / (Loss) Continuing Operations		 -52 -58 -108 -102 -130 -102
Consolidated Net Income / (Loss)		 -52 -58 -108 -102 -130 -102
Depreciation Expense		 0.72 0.90 1.61 2.42 2.50 2.28
Non-Cash Adjustments To Reconcile Net Income		 2.65 9.16 5.86 19 28 28
Changes in Operating Assets and Liabilities, net		 119 -11 -8.37 -38 -32 -67
Net Cash From Investing Activities		 -145 -183 26 41 86 -41
Net Cash From Continuing Investing Activities		 -145 -183 26 41 86 -41
Purchase of Property, Plant & Equipment		 -1.11 -1.84 -7.69 -1.53 -0.75 -1.05
Purchase of Investments		 -208 -372 -209 -311 -241 -264
Sale and/or Maturity of Investments		 63 191 243 354 328 225
Net Cash From Financing Activities		 81 357 1.62 82 48 223
Net Cash From Continuing Financing Activities		 81 357 1.62 82 48 223
Repurchase of Common Equity		 - - -0.01 -0.24 0.00 -0.04
Issuance of Common Equity		 0.04 1.06 1.62 82 48 223
Other Financing Activities, net		 0.00 326 0.00 0.69 0.00 0.00

Quarterly Cash Flow Statements for Tango Therapeutics

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -7.52 7.85 -6.08 -9.60 1.58 16 -11 -19 19 54 45
Net Cash From Operating Activities		 -31 -27 -38 -24 -33 -37 -42 -37 -31 -30 -44
Net Cash From Continuing Operating Activities		 -31 -27 -38 -24 -33 -37 -42 -37 -31 -30 -44
Net Income / (Loss) Continuing Operations		 -22 -31 -38 -26 -29 -38 -40 -39 16 -39 -46
Consolidated Net Income / (Loss)		 -22 -31 -38 -26 -29 -38 -40 -39 16 -39 -46
Depreciation Expense		 0.61 0.62 0.63 0.63 0.62 0.62 0.62 0.63 0.56 0.48 0.46
Non-Cash Adjustments To Reconcile Net Income		 6.53 3.43 6.26 7.30 6.93 7.55 7.57 6.87 7.04 6.15 11
Changes in Operating Assets and Liabilities, net		 -16 -0.75 -6.83 -5.99 -12 -7.15 -10 -5.16 -54 2.40 -9.98
Net Cash From Investing Activities		 -57 34 -11 13 33 52 31 17 47 -136 9.64
Net Cash From Continuing Investing Activities		 -57 34 -11 13 33 52 31 17 47 -136 9.64
Purchase of Property, Plant & Equipment		 -0.02 -0.23 -0.20 -0.32 -0.12 -0.12 -0.05 -0.62 -0.15 -0.22 0.00
Purchase of Investments		 -156 -51 -120 -49 -39 -33 -47 -24 -18 -175 -54
Sale and/or Maturity of Investments		 100 85 109 62 72 85 78 41 66 40 64
Net Cash From Financing Activities		 80 1.47 43 1.31 2.40 0.97 0.00 0.58 2.54 219 80
Net Cash From Continuing Financing Activities		 80 1.47 43 1.31 2.40 0.97 0.00 0.58 2.54 219 80
Repurchase of Common Equity		 - - - - - - 0.00 - - - -0.54
Issuance of Common Equity		 80 1.02 43 1.31 2.40 0.97 0.00 0.58 2.54 219 80

Annual Balance Sheets for Tango Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 207 500 436 403 316 399
Total Current Assets		 194 492 375 347 266 354
Cash & Equivalents		 28 143 60 66 70 112
Restricted Cash		 0.00 0.57 0.57 0.86 0.90 0.43
Short-Term Investments		 162 343 306 271 188 231
Prepaid Expenses		 1.31 4.52 6.57 8.80 8.43 10
Plant, Property, & Equipment, net		 3.82 4.83 11 9.91 8.10 6.87
Total Noncurrent Assets		 9.80 2.99 50 46 42 38
Other Noncurrent Operating Assets		 9.80 2.99 50 46 42 38
Total Liabilities & Shareholders' Equity		 207 500 436 403 316 399
Total Liabilities		 169 155 187 149 117 53
Total Current Liabilities		 41 41 56 46 38 22
Accounts Payable		 1.84 3.23 4.45 2.79 1.60 1.18
Accrued Expenses		 6.14 9.89 17 15 16 18
Current Deferred Revenue		 32 26 32 26 18 0.00
Other Current Liabilities		 0.96 1.50 1.77 2.08 2.45 2.74
Total Noncurrent Liabilities		 128 115 131 104 79 31
Noncurrent Deferred Revenue		 121 115 92 67 45 0.00
Other Noncurrent Operating Liabilities		 6.93 0.00 39 37 34 31
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 39 345 249 253 200 346
Total Preferred & Common Equity		 39 345 249 253 200 346
Total Common Equity		 39 345 249 253 200 346
Common Stock		 142 507 523 624 701 949
Retained Earnings		 -103 -161 -270 -371 -502 -603
Accumulated Other Comprehensive Income / (Loss)		 0.02 -0.77 -3.71 0.19 0.34 0.22

Quarterly Balance Sheets for Tango Therapeutics

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

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 379 428 406 381 352 274 238 210 436
Total Current Assets		 321 371 352 328 301 225 190 164 392
Cash & Equivalents		 66 59 61 52 53 58 39 58 158
Restricted Cash		 0.86 0.86 0.00 0.00 0.00 0.43 0.43 0.43 0.00
Short-Term Investments		 245 301 282 271 240 158 142 94 222
Prepaid Expenses		 9.04 10 8.44 6.30 7.54 7.78 8.89 11 12
Plant, Property, & Equipment, net		 11 10 9.52 9.10 8.59 7.54 7.79 7.35 6.38
Total Noncurrent Assets		 48 47 45 44 43 42 40 39 37
Other Noncurrent Operating Assets		 48 47 45 44 43 42 40 39 37
Total Liabilities & Shareholders' Equity		 379 428 406 381 352 274 238 210 436
Total Liabilities		 166 152 142 134 123 108 103 50 44
Total Current Liabilities		 54 43 43 44 38 36 40 18 14
Accounts Payable		 4.79 2.84 3.90 1.06 4.11 3.24 2.61 2.23 2.43
Accrued Expenses		 13 11 14 17 15 10 12 13 9.07
Current Deferred Revenue		 34 27 23 24 16 19 23 0.00 0.00
Other Current Liabilities		 1.81 2.04 2.07 2.36 2.86 2.82 2.53 3.10 2.83
Total Noncurrent Liabilities		 113 108 99 90 86 72 63 32 30
Noncurrent Deferred Revenue		 75 71 63 54 51 38 30 0.00 0.00
Other Noncurrent Operating Liabilities		 38 37 36 35 35 34 32 32 30
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 213 277 264 248 229 167 135 160 392
Total Preferred & Common Equity		 213 277 264 248 229 167 135 160 392
Total Common Equity		 213 277 264 248 229 167 135 160 392
Common Stock		 533 618 674 683 692 708 715 724 1,040
Retained Earnings		 -318 -340 -409 -435 -464 -541 -580 -564 -649
Accumulated Other Comprehensive Income / (Loss)		 -1.52 -0.68 -0.26 -0.33 0.75 0.19 0.09 0.12 -0.12

Annual Metrics And Ratios for Tango Therapeutics

This table displays calculated financial ratios and metrics derived from Tango Therapeutics' official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 21,377,250.00 87,546,430.00 88,177,354.00 88,467,269.00 - 134,593,998.00
DEI Adjusted Shares Outstanding		 21,377,250.00 87,546,430.00 88,177,354.00 88,467,269.00 - 134,593,998.00
DEI Earnings Per Adjusted Shares Outstanding		 -2.43 -0.67 -1.26 -1.11 - -0.76
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 -37 -41 -78 -80 -102 -78
Return On Investment Capital (ROIC_SIMPLE)		 - - -31.17% -31.58% -51.08% -22.50%
Earnings before Interest and Taxes (EBIT)		 -52 -58 -110 -108 -138 -107
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -51 -58 -108 -106 -135 -105
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -51 -102 -113 -128 -139
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -152 -141 -117 -85 -58 2.61
Increase / (Decrease) in Invested Capital		 0.00 11 24 33 26 61
Book Value per Share		 $1.81 $3.94 $2.83 $2.68 $1.86 $2.57
Tangible Book Value per Share		 $1.81 $3.94 $2.83 $2.68 $1.86 $2.57
Total Capital		 39 345 249 253 200 346
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -190 -486 -367 -338 -258 -344
Capital Expenditures (CapEx)		 1.11 1.84 7.69 1.53 0.75 1.05
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -38 -34 -47 -37 -30 -11
Debt-free Net Working Capital (DFNWC)		 153 452 320 301 228 332
Net Working Capital (NWC)		 153 452 320 301 228 332
Net Nonoperating Expense (NNE)		 15 18 30 22 28 24
Net Nonoperating Obligations (NNO)		 -190 -486 -367 -338 -258 -344
Total Depreciation and Amortization (D&A)		 0.72 0.90 1.61 2.42 2.50 2.28
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.94) ($1.23) ($1.08) ($1.19) ($0.87)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 87.71M 87.82M 94.57M 109.23M 116.17M
Adjusted Diluted Earnings per Share		 $0.00 ($0.94) ($1.23) ($1.08) ($1.19) ($0.87)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 87.71M 87.82M 94.57M 109.23M 116.17M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.94) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 62.11M 88.20M 106.72M 108.11M 142.69M
Normalized Net Operating Profit after Tax (NOPAT)		 -37 -41 -78 -80 -102 -78
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Tango Therapeutics

This table displays calculated financial ratios and metrics derived from Tango Therapeutics' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 88,467,269.00 88,467,269.00 106,718,315.00 106,718,315.00 107,144,465.00 - 108,107,890.00 108,394,190.00 111,260,247.00 134,593,998.00 142,688,851.00
DEI Adjusted Shares Outstanding		 88,467,269.00 88,467,269.00 106,718,315.00 106,718,315.00 107,144,465.00 - 108,107,890.00 108,394,190.00 111,260,247.00 134,593,998.00 142,688,851.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.24 -0.34 -0.36 -0.24 -0.26 - -0.37 -0.36 0.14 -0.29 -0.32
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 55.09% -15.29% 12.23% 36.15% 8.15% -24.21% -16.67% -84.00% 363.61% - -100.00%
EBITDA Growth		 19.55% -11.38% -38.47% -25.28% -28.94% -20.04% -3.52% -46.45% 150.60% - -15.66%
EBIT Growth		 17.99% -11.32% -37.85% -24.71% -28.24% -19.67% -3.46% -45.36% 147.79% - -15.04%
NOPAT Growth		 14.36% -14.55% -39.52% -27.12% -28.30% -16.84% -0.65% -38.63% 161.18% - -14.67%
Net Income Growth		 23.36% -5.86% -35.37% -23.38% -31.01% -22.45% -5.17% -52.06% 154.46% - -14.14%
EPS Growth		 30.30% 9.09% -9.38% -4.35% -17.39% -10.00% -2.86% -45.83% 148.15% - 11.11%
Operating Cash Flow Growth		 -58.76% 2.83% -8.45% 3.54% -7.24% -33.42% -10.14% -54.70% 7.30% - -6.39%
Free Cash Flow Firm Growth		 -41.60% -26.20% -26.46% -24.72% 21.14% 3.91% -3.02% -26.88% -31.99% - -64.38%
Invested Capital Growth		 30.34% 27.80% 25.60% 24.48% 23.81% 31.00% 36.33% 37.86% 110.59% - 123.15%
Revenue Q/Q Growth		 -26.48% -49.39% 19.15% 207.14% -41.60% -64.54% 31.00% -41.01% 1,591.64% - 0.00%
EBITDA Q/Q Growth		 -9.34% -37.60% -21.99% 31.74% -12.53% -28.10% -5.20% 3.43% 138.88% - -18.05%
EBIT Q/Q Growth		 -9.12% -36.66% -21.60% 31.23% -12.21% -27.53% -5.13% 3.37% 136.89% - -17.80%
NOPAT Q/Q Growth		 -10.23% -36.63% -20.68% 30.06% -11.25% -24.43% -3.96% 3.68% 149.10% - -16.49%
Net Income Q/Q Growth		 -7.50% -38.18% -23.25% 32.61% -14.15% -29.15% -5.86% 2.57% 140.88% - -17.46%
EPS Q/Q Growth		 0.00% -30.43% -16.67% 31.43% -12.50% -22.22% -9.09% 2.78% 137.14% - -10.34%
Operating Cash Flow Q/Q Growth		 -27.22% 11.78% -37.83% 37.64% -41.44% -9.75% -13.78% 12.42% 15.24% - -49.27%
Free Cash Flow Firm Q/Q Growth		 -51.93% -4.61% 0.52% 21.12% 3.94% -27.46% -6.66% 2.85% 0.06% - -6.51%
Invested Capital Q/Q Growth		 14.63% -0.58% 6.48% 5.95% 13.88% 8.90% 13.71% 8.21% 114.68% - 346.50%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 0.00%
EBITDA Margin		 -218.96% -595.38% -609.58% -135.47% -261.05% -943.00% -757.31% -1,239.61% 28.49% - 0.00%
Operating Margin		 -238.78% -644.71% -652.99% -148.69% -283.26% -993.93% -788.76% -1,287.87% 26.15% - 0.00%
EBIT Margin		 -224.67% -606.74% -619.24% -138.65% -266.41% -958.07% -768.84% -1,259.26% 27.46% - 0.00%
Profit (Net Income) Margin		 -207.45% -566.43% -585.91% -128.56% -251.29% -915.21% -739.54% -1,221.41% 29.52% - 0.00%
Tax Burden Percent		 100.10% 100.15% 100.11% 100.26% 100.19% 100.13% 100.09% 100.09% 100.06% - 100.00%
Interest Burden Percent		 92.24% 93.21% 94.52% 92.48% 94.15% 95.40% 96.11% 96.91% 107.42% - 95.44%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.06% - 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)		 -36.40% -40.49% -45.41% -50.58% -48.80% -57.58% -61.35% -76.09% -51.65% - -38.42%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -2,181.01% - -1,237.10%
Operating Return on Assets (OROA)		 -18.89% -52.83% -56.93% -15.49% -29.61% -112.10% -92.62% -98.80% 6.49% - 0.00%
Return on Assets (ROA)		 -17.44% -49.32% -53.86% -14.37% -27.93% -107.09% -89.09% -95.83% 6.98% - 0.00%
Return on Common Equity (ROCE)		 -36.40% -40.49% -45.41% -50.58% -48.80% -57.58% -61.35% -76.09% -51.65% - -38.42%
Return on Equity Simple (ROE_SIMPLE)		 -36.17% 0.00% -42.22% 0.00% 0.00% 0.00% -79.32% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -18 -25 -30 -21 -23 -29 -30 -29 14 -29 -34
NOPAT Margin		 -167.15% -451.29% -457.09% -104.08% -198.28% -695.75% -552.13% -901.51% 26.17% - 0.00%
Net Nonoperating Expense Percent (NNEP)		 -1.15% -1.78% -2.46% -1.54% -1.88% -3.03% -3.60% -4.04% 0.81% - -3.81%
Return On Investment Capital (ROIC_SIMPLE)		 - -9.68% -11.18% -8.35% -10.04% -14.35% -17.85% -21.25% 8.80% -8.47% -8.72%
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		 85.81% 167.67% 164.75% 54.20% 96.68% 269.44% 212.91% 356.52% 16.58% - 0.00%
R&D to Revenue		 252.97% 577.04% 588.24% 194.49% 286.58% 824.49% 675.85% 1,031.34% 57.27% - 0.00%
Operating Expenses to Revenue		 338.78% 744.71% 752.99% 248.69% 383.26% 1,093.93% 888.76% 1,387.87% 73.85% - 0.00%
Earnings before Interest and Taxes (EBIT)		 -24 -33 -40 -28 -31 -39 -41 -40 15 -40 -48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -23 -32 -39 -27 -30 -39 -41 -39 15 -40 -47
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.60 3.46 3.20 3.70 3.60 1.66 0.89 4.11 5.84 - 7.62
Price to Tangible Book Value (P/TBV)		 3.60 3.46 3.20 3.70 3.60 1.66 0.89 4.11 5.84 - 7.62
Price to Revenue (P/Rev)		 26.56 23.98 22.76 21.54 19.02 7.89 3.61 22.84 14.05 - 52.38
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 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% 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 115.04 - 223.30
Enterprise Value to Revenue (EV/Rev)		 16.94 14.73 13.53 13.96 12.26 1.76 0.00 15.38 11.75 - 45.71
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 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 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Financial Leverage		 -1.37 -1.40 -1.38 -1.38 -1.29 -1.32 -1.30 -1.32 -1.15 - -1.07
Leverage Ratio		 1.62 1.67 1.65 1.65 1.54 1.59 1.58 1.62 1.45 - 1.27
Compound Leverage Factor		 1.50 1.56 1.56 1.53 1.45 1.52 1.52 1.57 1.55 - 1.21
Debt to Total Capital		 0.00% 0.00% 0.00% 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		 0.00% 0.00% 0.00% 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% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Altman Z-Score		 3.65 2.94 2.86 3.28 2.90 0.07 -1.46 0.12 8.81 - 39.17
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 8.54 7.54 8.23 7.49 8.00 6.98 6.26 4.75 8.88 - 27.38
Quick Ratio		 8.29 7.33 8.03 7.34 7.80 6.76 6.03 4.52 8.29 - 26.51
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -55 -57 -57 -45 -43 -55 -59 -57 -57 -90 -96
Operating Cash Flow to CapEx		 -194,593.75% -12,153.54% -19,413.85% -7,377.19% -29,034.78% -29,554.03% -81,758.82% -5,852.40% -20,498.01% - 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.09 0.09 0.11 0.11 0.12 0.12 0.08 0.24 - 0.16
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		 3.48 3.51 3.61 4.26 4.60 4.67 4.81 2.88 8.35 - 8.19
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		 -84 -85 -79 -74 -64 -58 -50 -46 6.79 2.61 12
Invested Capital Turnover		 -0.37 -0.36 -0.40 -0.49 -0.59 -0.59 -0.63 -0.40 -2.32 - -2.94
Increase / (Decrease) in Invested Capital		 37 33 27 24 20 26 29 28 71 61 62
Enterprise Value (EV)		 635 538 504 594 532 74 -69 374 781 - 2,605
Market Capitalization		 996 876 847 916 825 332 148 555 935 - 2,985
Book Value per Share		 $3.13 $2.68 $2.48 $2.29 $2.14 $1.86 $1.54 $1.25 $1.44 $2.57 $2.74
Tangible Book Value per Share		 $3.13 $2.68 $2.48 $2.29 $2.14 $1.86 $1.54 $1.25 $1.44 $2.57 $2.74
Total Capital		 277 253 264 248 229 200 167 135 160 346 392
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -361 -338 -344 -322 -293 -258 -217 -181 -153 -344 -380
Capital Expenditures (CapEx)		 0.02 0.23 0.20 0.32 0.12 0.12 0.05 0.62 0.15 0.22 -0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -33 -37 -34 -38 -30 -30 -28 -31 -7.90 -11 -1.84
Debt-free Net Working Capital (DFNWC)		 327 301 309 285 263 228 189 150 145 332 378
Net Working Capital (NWC)		 327 301 309 285 263 228 189 150 145 332 378
Net Nonoperating Expense (NNE)		 4.32 6.25 8.34 4.86 6.15 9.03 10 10 -1.80 9.44 11
Net Nonoperating Obligations (NNO)		 -361 -338 -344 -322 -293 -258 -217 -181 -153 -344 -380
Total Depreciation and Amortization (D&A)		 0.61 0.62 0.63 0.63 0.62 0.62 0.62 0.63 0.56 0.48 0.46
Debt-free, Cash-free Net Working Capital to Revenue		 -88.68% -101.68% -92.26% -88.38% -69.26% -70.70% -68.65% -128.16% -11.89% - -3.23%
Debt-free Net Working Capital to Revenue		 873.10% 822.95% 830.59% 669.37% 606.75% 542.38% 461.12% 617.69% 218.55% - 663.25%
Net Working Capital to Revenue		 873.10% 822.95% 830.59% 669.37% 606.75% 542.38% 461.12% 617.69% 218.55% - 663.25%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.23) ($0.30) ($0.35) ($0.24) ($0.27) ($0.33) ($0.36) ($0.35) $0.14 ($0.30) ($0.32)
Adjusted Weighted Average Basic Shares Outstanding		 97.03M 94.57M 108.17M 108.31M 108.51M 109.23M 110.30M 110.54M 110.97M 116.17M 143.58M
Adjusted Diluted Earnings per Share		 ($0.23) ($0.30) ($0.35) ($0.24) ($0.27) ($0.33) ($0.36) ($0.35) $0.13 ($0.29) ($0.32)
Adjusted Weighted Average Diluted Shares Outstanding		 97.03M 94.57M 108.17M 108.31M 108.51M 109.23M 110.30M 110.54M 117.78M 116.17M 143.58M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 106.72M 0.00 107.14M 107.42M 108.11M 108.39M 111.26M 134.59M 142.69M 144.65M
Normalized Net Operating Profit after Tax (NOPAT)		 -18 -25 -30 -21 -23 -29 -30 -29 9.85 -29 -34
Normalized NOPAT Margin		 -167.15% -451.29% -457.09% -104.08% -198.28% -695.75% -552.13% -901.51% 18.31% - 0.00%
Pre Tax Income Margin		 -207.23% -565.57% -585.29% -128.23% -250.82% -914.02% -738.91% -1,220.31% 29.50% - 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 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% -0.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -0.53%

Financials Breakdown Chart

Key Financial Trends

Tango Therapeutics (TNGX) continues to operate with meaningful cash burn and ongoing net losses, but it also shows improving quarterly cash flow dynamics in 2025 driven by a substantial equity financing in Q4 and selective investing activity. Below are the most notable trends from the last several quarters across cash flow, income statement, and balance sheet data.

  • Q4 2025 financing activity: Tango raised about $219.4 million from issuing common equity, with net cash from continuing financing activities around $219.38 million. The quarter also posted a net cash increase of about $53.94 million.
  • Q3 2025 investing cash inflow: Net cash from continuing investing activities was about $47.48 million in Q3 2025, led by a $65.97 million sale/maturity of investments (offset by a modest purchase of investments).
  • Q3 2025 revenue: Operating revenue was about $53.81 million in Q3 2025, indicating a material quarterly top line despite ongoing losses.
  • Solid liquidity position in 2025: As of Q3 2025, Tango held roughly $58.34 million in cash and equivalents and $94.47 million in short-term investments, totaling about $152.81 million in readily available liquidity (with total current assets around $163.78 million).
  • Operating cash burn improving through 2025: Net cash from continuing operating activities was about -$29.72 million in Q4 2025, an improvement from -$41.70 million in Q1 2025 and -$36.52 million in Q2 2025, signaling better quarterly cash flow management.
  • Balance sheet context: Total liabilities around $50.1 million versus total equity of about $160.0 million at the end of Q3 2025 (liability load appears modest relative to equity).
  • R&D as a cost driver: R&D expense remained high in Q4 2025 at about $32.10 million, with SG&A around $9.76 million, contributing to the year’s operating loss.
  • Net income and earnings per share remain negative: Q4 2025 net income from continuing operations was about -$38.75 million; basic and diluted earnings per share were -$0.30 and -$0.29, respectively.
  • Ongoing quarterly losses: Across 2025, Tango posted negative net income in each reported quarter (e.g., Q3 2025 net income continuing -$38.53 million; Q4 2025 -$38.75 million), underscoring persistent profitability challenges.
  • Cash burn persistence despite financing: While financing and one-time investing events boosted liquidity in certain quarters, operating cash burn remained negative in multiple periods (e.g., Q1 2025 -$41.70 million, Q2 2025 -$36.52 million, Q3 2025 -$30.95 million, Q4 2025 -$29.72 million).
05/29/26 12:05 PM ETAI Generated. May Contain Errors.

Tango Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Tango Therapeutics' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Tango Therapeutics' net income appears to be on an upward trend, with a most recent value of -$101.59 million in 2025, rising from -$51.97 million in 2020. The previous period was -$130.30 million in 2024. Check out Tango Therapeutics' forecast to explore projected trends and price targets.

Tango Therapeutics' total operating income in 2025 was -$111.29 million, based on the following breakdown:
  • Total Gross Profit: $62.38 million
  • Total Operating Expenses: $173.67 million

Over the last 5 years, Tango Therapeutics' total revenue changed from $7.66 million in 2020 to $62.38 million in 2025, a change of 714.8%.

Tango Therapeutics' total liabilities were at $52.51 million at the end of 2025, a 55.1% decrease from 2024, and a 68.9% decrease since 2020.

In the past 5 years, Tango Therapeutics' cash and equivalents has ranged from $28.38 million in 2020 to $142.75 million in 2021, and is currently $112.28 million as of their latest financial filing in 2025.

Over the last 5 years, Tango Therapeutics' book value per share changed from 1.81 in 2020 to 2.57 in 2025, a change of 42.4%.


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Financial statements for NASDAQ:TNGX last updated on 5/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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