TECX net incomeQ3 2026-$21.35M
TECX net income was -$21.35M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$19.04M a year earlier. For the full fiscal 2025 it was -$74.15M, compared with -$57.98M in fiscal 2024.
Tectonic Therapeutic Inc. (TECX) financials
For the twelve months ended Sep 30, 2026, Tectonic Therapeutic Inc. reported -$88.10M of net income.
- Net income, TTM
- -$88.10M
- Free cash flow, TTM
- -$69.33M
- EPS, diluted, TTM
- -$4.63
- Cash
- $234.67M
- Market cap
- $438.1M
FY2017FY2025
FY2017FY2025
TECX revenue and earnings growth
TECX EPSQ3 2026-$1.08
TECX diluted EPS was -$1.08 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.02 a year earlier. For the full fiscal 2025 it was -$4.05.
TECX free cash flowQ3 2026-$14.91M
TECX free cash flow was -$14.91M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$18.00M a year earlier. For the full fiscal 2025 it was -$60.29M, compared with -$59.24M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Research and development | $63.49M | $41.36M | $36.97M | $72.19M | $83.11M | $87.24M | $54.97M | $35.09M | $15.19M |
| Selling, general and admin | $20.55M | $16.65M | $7.68M | $33.25M | $35.73M | $32.99M | $20.84M | $11.15M | $3.19M |
| Operating income | -$84.04M | -$58.02M | -$44.65M | -$105.43M | -$118.84M | -$120.23M | -$75.81M | -$46.24M | -$18.39M |
| Interest expense | $63.0K | $107.0K | $152.0K | - | - | - | - | - | - |
| Pre-tax income | -$72.92M | -$57.98M | - | - | - | - | - | - | - |
| Income tax | $1.23M | $0 | $0 | $0 | - | - | - | - | - |
| Net income | -$74.15M | -$57.98M | -$42.82M | -$105.89M | -$119.13M | -$119.71M | -$72.97M | -$46.36M | -$18.65M |
| EPS, basic | -$4.05 | -$6.83 | -$33.76 | -$2.42 | -$2.78 | -$3.31 | -$2.66 | -$3.62 | -$8.38 |
| EPS, diluted | -$4.05 | -$6.83 | -$33.76 | -$2.42 | -$2.78 | -$3.31 | -$2.66 | -$3.62 | -$8.38 |
| Diluted shares | 18.3M | 8.5M | 1.3M | 43.7M | 42,854 | 36.2M | 27.4M | 13.4M | 2.2M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $253.80M | $141.83M | $29.36M | $36.55M | $190.06M | $260.17M | $187.53M | $126.79M | $5.99M |
| Current assets | $257.36M | $146.86M | $30.88M | $99.96M | $199.15M | $267.24M | $195.70M | $130.02M | $6.31M |
| Total assets | $261.04M | $152.91M | $39.40M | $103.95M | $203.84M | $271.23M | $200.51M | $133.48M | $7.02M |
| Current liabilities | $9.67M | $11.61M | $40.89M | $13.12M | $19.39M | $16.61M | $14.02M | $10.61M | $2.63M |
| Total debt | - | - | - | $15.00M | $15.00M | - | - | - | - |
| Total liabilities | $9.71M | $12.13M | $43.41M | $28.58M | $34.36M | $16.89M | $14.50M | $11.29M | $3.66M |
| Shareholders' equity | $251.33M | $140.78M | -$84.64M | -$45.65M | $169.48M | $254.34M | $186.01M | $122.18M | -$23.14M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$60.08M | -$59.08M | -$40.68M | -$97.21M | -$98.03M | -$98.80M | -$67.67M | -$37.65M | -$16.38M |
| Capital expenditures | $208.0K | $156.0K | $279.0K | $267.0K | $2.46M | $1.18M | $1.58M | $1.83M | $383.0K |
| Free cash flow | -$60.29M | -$59.24M | -$40.96M | -$97.47M | -$100.49M | -$99.98M | -$69.25M | -$39.48M | -$16.77M |
| Investing cash flow | -$138.0K | -$156.0K | -$279.0K | -$267.0K | -$2.46M | -$1.18M | -$1.58M | -$1.83M | -$383.0K |
| Financing cash flow | $173.35M | $171.71M | $33.75M | $262.0K | $30.37M | $172.62M | $129.99M | $160.29M | $17.37M |
| Stock-based compensation | $10.50M | $3.49M | $1.12M | $11.52M | $18.58M | $15.63M | $6.80M | $2.20M | $177.0K |
| Depreciation and amortization | $1.38M | $1.65M | $1.48M | $1.44M | $1.40M | $1.21M | $850.0K | $380.0K | $45.0K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Return on equity | -29.5% | -41.2% | - | - | -70.3% | -47.1% | -39.2% | -37.9% | - |
| Return on assets | -28.4% | -37.9% | -108.7% | -101.9% | -58.4% | -44.1% | -36.4% | -34.7% | -265.6% |
| Current ratio | 26.63 | 12.65 | 0.76 | 7.62 | 10.27 | 16.09 | 13.96 | 12.26 | 2.40 |
| Debt to equity | - | - | - | - | 0.09 | - | - | - | - |
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $17.44M | $18.05M | $20.87M | $16.34M | $16.93M | $17.18M | $13.04M | $9.16M | $14.32M | $7.07M | $10.82M | $7.19M |
| Selling, general and admin | $6.01M | $6.17M | $6.43M | $5.17M | $4.96M | $5.15M | $5.26M | $4.83M | $5.32M | $4.35M | $2.15M | $2.18M |
| Operating income | -$23.46M | -$24.22M | -$27.30M | -$21.52M | -$21.89M | -$22.33M | -$18.30M | -$13.99M | -$19.64M | -$11.42M | -$12.97M | -$9.37M |
| Interest expense | $4.0K | $6.0K | $8.0K | $12.0K | $14.0K | $17.0K | $20.0K | $22.0K | $25.0K | $28.0K | $31.0K | $34.0K |
| Pre-tax income | -$21.35M | -$22.21M | -$25.24M | -$18.97M | -$19.04M | -$19.01M | -$15.91M | -$12.37M | -$17.72M | -$12.67M | -$15.22M | - |
| Income tax | $0 | $77.0K | $0 | $254.0K | $0 | $976.0K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$21.35M | -$22.29M | -$25.24M | -$19.23M | -$19.04M | -$19.98M | -$15.91M | -$12.37M | -$17.72M | -$12.67M | -$15.22M | -$7.87M |
| EPS, basic | -$1.08 | -$1.18 | -$1.34 | -$1.03 | -$1.02 | -$1.07 | -$0.93 | - | -$1.20 | -$4.34 | -$10.97 | - |
| EPS, diluted | -$1.08 | -$1.18 | -$1.34 | -$1.03 | -$1.02 | -$1.07 | -$0.93 | - | -$1.20 | -$4.34 | -$10.97 | - |
| Diluted shares | 19.7M | 19.0M | 18.8M | - | 18.7M | 18.7M | 17.2M | - | 14.7M | 2.9M | 1.4M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $234.67M | $227.07M | $236.89M | $253.80M | $268.44M | $287.38M | $306.25M | $141.83M | $159.09M | $185.12M | $18.75M | $29.36M |
| Current assets | $238.55M | $231.10M | $239.89M | $257.36M | $273.24M | $290.85M | $309.64M | $146.86M | $162.60M | $187.39M | $91.84M | $30.88M |
| Total assets | $243.86M | $237.03M | $246.58M | $261.04M | $277.00M | $295.31M | $314.83M | $152.91M | $168.72M | $193.91M | $92.35M | $39.40M |
| Current liabilities | $12.10M | $10.37M | $12.96M | $9.67M | $9.37M | $11.36M | $13.51M | $11.61M | $17.32M | $26.00M | $3.51M | $40.89M |
| Total liabilities | $14.54M | $13.19M | $16.16M | $9.71M | $9.47M | $11.55M | $13.79M | $12.13M | $18.36M | $27.54M | $3.51M | $43.41M |
| Shareholders' equity | $229.32M | $223.85M | $230.42M | $251.33M | $267.53M | $283.77M | $301.04M | $140.78M | $150.36M | $166.37M | -$99.57M | -$84.64M |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.91M | -$21.45M | -$18.41M | -$14.46M | -$17.82M | -$14.72M | -$13.08M | -$16.82M | -$19.60M | -$13.38M | -$9.27M | -$11.66M |
| Capital expenditures | $0 | $79.0K | $19.0K | $0 | $181.0K | $0 | $27.0K | $3.0K | $153.0K | -$4.0K | $4.0K | $50.0K |
| Free cash flow | -$14.91M | -$21.53M | -$18.43M | -$14.46M | -$18.00M | -$14.72M | -$13.11M | -$16.82M | -$19.76M | -$13.39M | -$9.28M | -$11.71M |
| Investing cash flow | $0 | -$59.0K | -$19.0K | $0 | -$166.0K | $55.0K | -$27.0K | -$3.0K | -$153.0K | $4.0K | -$4.0K | -$50.0K |
| Financing cash flow | $22.50M | $11.68M | $847.0K | -$141.0K | -$457.0K | -$4.17M | $178.12M | -$1.07M | -$6.29M | $179.74M | -$668.0K | $34.13M |
| Stock-based compensation | $4.24M | $4.01M | $3.21M | $2.99M | $2.82M | $2.59M | $2.10M | $1.12M | $1.65M | $403.0K | $321.0K | $294.0K |
| Depreciation and amortization | $250.0K | $285.0K | $304.0K | $333.0K | $342.0K | $340.0K | $360.0K | $508.0K | $424.0K | $336.0K | $377.0K | $373.0K |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 19.71 | 22.29 | 18.51 | 26.63 | 29.15 | 25.60 | 22.92 | 12.65 | 9.39 | 7.21 | 26.17 | 0.76 |
Source: XBRL data Tectonic Therapeutic Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
TECX peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| TECX | - | - | -$88.10M | - | $438.1M |
| AMGN | $38.90B | +8.2% | $9.39B | 24.1% | $253.21B |
| GILD | $30.99B | +6.5% | -$3.86B | -12.5% | $210.52B |
| MRNA | $2.52B | +13.1% | -$2.79B | -110.5% | $100.63B |
| ARGX | $4.25B | +88.6% | $1.29B | 30.4% | $60.67B |
| RVMD | $0 | - | -$1.13B | - | $39.08B |
| BIIB | $10.30B | +2.3% | $347.50M | 3.4% | $37.46B |
| BNTX | €2.87B | +4.3% | -€1.14B | -39.6% | $22.02B |
| NBIX | $3.70B | +38.0% | $702.50M | 19.0% | $17.65B |
TECX FAQ
6 questionsIs TECX profitable?
No. Tectonic Therapeutic Inc. reported a net loss of $88.10M for the twelve months ended Sep 30, 2026.How much cash and debt does TECX have?
Tectonic Therapeutic Inc. reported $234.67M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is TECX free cash flow?
Tectonic Therapeutic Inc. generated -$69.33M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$69.23M less capital expenditures.What is TECX earnings per share?
Diluted earnings per share were -$4.63 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did TECX last report financial results?
The latest statements here come from Tectonic Therapeutic Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.Where does this TECX financial data come from?
Quantisnow builds these statements from the structured XBRL data Tectonic Therapeutic Inc. files with the SEC. It is provided for information only and is not investment advice.