TRVI net incomeQ2 2026-$17.80M
TRVI net income was -$17.80M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$12.30M a year earlier. For the full fiscal 2025 it was -$42.76M, compared with -$47.91M in fiscal 2024.
Trevi Therapeutics Inc. (TRVI) financials
For the twelve months ended Jun 30, 2026, Trevi Therapeutics Inc. reported -$51.11M of net income.
- Net income, TTM
- -$51.11M
- Free cash flow, TTM
- -$52.87M
- EPS, diluted, TTM
- -$0.34
- Cash
- $54.30M
- Market cap
- $2.04B
FY2018FY2025
FY2018FY2025
TRVI revenue and earnings growth
TRVI EPSQ2 2026-$0.11
TRVI diluted EPS was -$0.11 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.09 a year earlier. For the full fiscal 2025 it was -$0.32, compared with -$0.47 in fiscal 2024.
TRVI free cash flowQ2 2026-$17.55M
TRVI free cash flow was -$17.55M in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$42.10M, compared with -$38.29M 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 |
|---|---|---|---|---|---|---|---|---|
| Research and development | $33.48M | $39.38M | $23.68M | $19.83M | $22.98M | $22.33M | $19.34M | $14.07M |
| Selling, general and admin | $15.85M | $12.15M | $10.24M | $10.07M | $9.49M | $10.16M | $7.31M | $4.34M |
| Operating income | -$49.33M | -$51.52M | -$33.92M | -$29.91M | -$32.48M | -$32.49M | -$26.64M | -$18.41M |
| Interest expense | $0 | $4.0K | $391.0K | $1.16M | $1.20M | $456.0K | - | $174.0K |
| Pre-tax income | -$42.82M | -$47.94M | -$29.10M | -$29.19M | -$33.96M | -$32.78M | -$26.07M | -$20.67M |
| Income tax | -$64.0K | -$30.0K | -$32.0K | -$36.0K | -$21.0K | -$18.0K | -$18.0K | -$124.0K |
| Net income | -$42.76M | -$47.91M | -$29.07M | -$29.15M | -$33.94M | -$32.76M | -$26.05M | -$20.55M |
| EPS, basic | -$0.32 | -$0.47 | -$0.29 | -$0.45 | -$1.49 | -$1.81 | -$2.28 | -$58.44 |
| EPS, diluted | -$0.32 | -$0.47 | -$0.29 | -$0.45 | -$1.49 | -$1.81 | -$2.28 | -$58.44 |
| Diluted shares | 134.7M | 102.0M | 99.0M | 64.5M | 22.8M | 18.1M | 11.7M | 437,610 |
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 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $18.91M | $34.10M | $32.40M | $12.59M | $36.83M | $45.00M | $57.31M | $7.20M |
| Short-term investments | $169.35M | $73.53M | $50.57M | $107.92M | - | - | - | - |
| Current assets | $191.66M | $109.43M | $87.55M | $122.62M | $37.96M | $46.27M | $59.55M | $8.82M |
| Total assets | $193.44M | $110.90M | $89.40M | $123.02M | $38.48M | $47.13M | $60.00M | $10.53M |
| Current liabilities | $9.75M | $10.51M | $5.82M | $13.40M | $12.72M | $5.55M | $5.20M | $2.68M |
| Total liabilities | $10.20M | $11.26M | $6.86M | $15.56M | $21.40M | $19.85M | - | - |
| Shareholders' equity | $183.24M | $99.64M | $82.55M | $107.46M | $17.07M | $27.28M | $54.55M | -$109.49M |
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 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$42.09M | -$38.26M | -$31.71M | -$28.18M | -$28.95M | -$29.00M | -$23.09M | -$18.29M |
| Capital expenditures | $12.0K | $35.0K | $137.0K | $159.0K | - | $32.0K | $9.0K | $158.0K |
| Free cash flow | -$42.10M | -$38.29M | -$31.85M | -$28.33M | - | -$29.03M | -$23.10M | -$18.45M |
| Investing cash flow | -$94.11M | -$21.53M | $59.43M | -$107.37M | - | -$32.0K | -$9.0K | -$158.0K |
| Financing cash flow | $121.01M | $61.48M | -$7.91M | $111.31M | $20.77M | $16.72M | $73.21M | $3.63M |
| Stock-based compensation | $5.18M | $3.59M | $2.25M | $2.33M | $2.54M | $2.42M | $1.13M | $496.0K |
| Depreciation and amortization | $144.0K | $147.0K | $123.0K | $43.0K | - | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|
| Return on equity | -23.3% | -48.1% | -35.2% | -27.1% | -198.8% | -120.1% | -47.8% | - |
| Return on assets | -22.1% | -43.2% | -32.5% | -23.7% | -88.2% | -69.5% | -43.4% | -195.2% |
| Current ratio | 19.66 | 10.41 | 15.03 | 9.15 | 2.98 | 8.33 | 11.45 | 3.30 |
Income statement
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $15.15M | $9.94M | $6.19M | $10.09M | $9.39M | $7.81M | $9.33M | $11.22M | $10.02M | $8.80M | $6.52M | $6.32M |
| Selling, general and admin | $5.36M | $4.97M | $4.03M | $3.83M | $4.33M | $3.66M | $2.92M | $2.86M | $3.27M | $3.10M | $2.42M | $2.72M |
| Operating income | -$20.51M | -$14.91M | -$10.22M | -$13.92M | -$13.72M | -$11.47M | -$12.24M | -$14.09M | -$13.29M | -$11.91M | -$8.93M | -$9.04M |
| Interest expense | - | - | $0 | $0 | $0 | $0 | $1.0K | $1.0K | $1.0K | $1.0K | $4.0K | $3.0K |
| Pre-tax income | -$17.82M | -$13.21M | -$8.33M | -$11.82M | -$12.32M | -$10.35M | -$11.40M | -$13.27M | -$12.36M | -$10.91M | -$7.80M | -$7.71M |
| Income tax | -$19.0K | -$20.0K | -$16.0K | -$15.0K | -$21.0K | -$11.0K | $16.0K | -$31.0K | -$8.0K | -$8.0K | $18.0K | -$13.0K |
| Net income | -$17.80M | -$13.19M | -$8.32M | -$11.80M | -$12.30M | -$10.34M | -$11.41M | -$13.24M | -$12.35M | -$10.90M | -$7.82M | -$7.70M |
| EPS, basic | -$0.11 | -$0.09 | -$0.06 | -$0.08 | -$0.09 | -$0.09 | -$0.11 | -$0.13 | -$0.12 | -$0.11 | -$0.08 | -$0.08 |
| EPS, diluted | -$0.11 | -$0.09 | -$0.06 | -$0.08 | -$0.09 | -$0.09 | -$0.11 | -$0.13 | -$0.12 | -$0.11 | -$0.08 | -$0.08 |
| Diluted shares | 156.6M | 145.6M | - | 145.1M | 130.4M | 117.6M | - | 101.3M | 101.0M | 99.5M | - | 99.3M |
Balance sheet
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $54.30M | $19.41M | $18.91M | $56.87M | $117.06M | $19.37M | $34.10M | $16.05M | $12.96M | $13.81M | $32.40M | $25.96M |
| Short-term investments | $264.57M | $152.37M | $169.35M | $138.06M | $86.83M | $83.88M | $73.53M | $49.44M | $56.53M | $59.01M | $50.57M | $62.90M |
| Current assets | $325.70M | $176.12M | $191.66M | $198.30M | $207.23M | $105.62M | $109.43M | $67.34M | $72.13M | $76.77M | $87.55M | $93.95M |
| Total assets | $330.52M | $179.61M | $193.44M | $199.36M | $208.34M | $107.00M | $110.90M | $68.91M | $73.81M | $78.56M | $89.40M | $95.90M |
| Current liabilities | $8.74M | $7.12M | $9.75M | $9.04M | $9.24M | $6.87M | $10.51M | $9.12M | $6.75M | $5.28M | $5.82M | $5.17M |
| Total liabilities | $9.01M | $7.48M | $10.20M | $9.57M | $9.85M | $7.55M | $11.26M | $9.94M | $7.64M | $6.22M | $6.86M | $6.29M |
| Shareholders' equity | $321.51M | $172.13M | $183.24M | $189.79M | $198.49M | $99.46M | $99.64M | $58.97M | $66.17M | $72.33M | $82.55M | $89.61M |
Cash flow
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$17.43M | -$16.69M | -$7.63M | -$10.88M | -$10.10M | -$13.48M | -$9.55M | -$9.56M | -$8.68M | -$10.47M | -$6.36M | -$7.28M |
| Capital expenditures | $124.0K | $102.0K | $0 | $12.0K | - | - | $7.0K | $0 | - | - | $22.0K | $18.0K |
| Free cash flow | -$17.55M | -$16.79M | -$7.63M | -$10.89M | - | - | -$9.56M | -$9.56M | - | - | -$6.38M | -$7.30M |
| Investing cash flow | -$112.04M | $16.96M | -$30.61M | -$50.94M | -$2.61M | -$9.95M | -$23.87M | $7.67M | $2.77M | -$8.09M | $12.85M | $17.98M |
| Financing cash flow | $164.36M | $222.0K | $284.0K | $1.63M | $110.39M | $8.71M | $51.47M | $4.98M | $5.07M | -$28.0K | -$54.0K | $1.51M |
| Stock-based compensation | $3.27M | $2.19M | $1.35M | $1.24M | $1.38M | $1.21M | $917.0K | $822.0K | $1.13M | $723.0K | $534.0K | $530.0K |
| Depreciation and amortization | $34.0K | $34.0K | $31.0K | $38.0K | $38.0K | $37.0K | $38.0K | $36.0K | $38.0K | $35.0K | $35.0K | $35.0K |
Key ratios
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 37.28 | 24.75 | 19.66 | 21.93 | 22.42 | 15.38 | 10.41 | 7.38 | 10.68 | 14.55 | 15.03 | 18.16 |
Source: XBRL data Trevi Therapeutics Inc. files with the SEC, latest filing dated Aug 6, 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.
TRVI peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| TRVI | - | - | -$51.11M | - | $2.04B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.27T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $664.95B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $514.92B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $361.71B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $310.17B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.10B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $190.39B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $178.51B |
TRVI FAQ
6 questionsIs TRVI profitable?
No. Trevi Therapeutics Inc. reported a net loss of $51.11M for the twelve months ended Jun 30, 2026.How much cash and debt does TRVI have?
Trevi Therapeutics Inc. reported $54.30M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is TRVI free cash flow?
Trevi Therapeutics Inc. generated -$52.87M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$52.63M less capital expenditures.What is TRVI earnings per share?
Diluted earnings per share were -$0.34 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.When did TRVI last report financial results?
The latest statements here come from Trevi Therapeutics Inc.'s 10-Q filed on Aug 6, 2026, covering the period ended Jun 30, 2026.Where does this TRVI financial data come from?
Quantisnow builds these statements from the structured XBRL data Trevi Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.