# Tarsus Pharmaceuticals, Inc.: overview

TARS · Nasdaq · CIK 1819790 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/tars.md) · [Financials](/companies/tars/financials.md) · [Filings](/companies/tars/filings.md) · [Insiders](/companies/tars/insiders.md)

Latest reported revenue: [$173.9m](/filings/0001819790-26-000064.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:Revenues, accession 0001819790-26-000064).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [48.1](/filings/0001819790-25-000121.md) | [66.4 d](/filings/0001819790-26-000019.md) | [78.3](/filings/0001819790-26-000038.md) | [103](/filings/0001819790-26-000064.md) | [119](/filings/0001819790-25-000121.md) | [152 d](/filings/0001819790-26-000019.md) | [162](/filings/0001819790-26-000038.md) | [174](/filings/0001819790-26-000064.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(52.3%)](/filings/0001819790-25-000121.md) | [(36.8%) d](/filings/0001819790-26-000019.md) | [(33.5%)](/filings/0001819790-26-000038.md) | [(21.6%)](/filings/0001819790-26-000064.md) | [(12.2%)](/filings/0001819790-25-000121.md) | [(5.3%) d](/filings/0001819790-26-000019.md) | [(3.8%)](/filings/0001819790-26-000038.md) | [(11.4%)](/filings/0001819790-26-000064.md) |
| Net margin | % | [(48.7%)](/filings/0001819790-25-000121.md) | [(34.8%) d](/filings/0001819790-26-000019.md) | [(32.1%)](/filings/0001819790-26-000064.md) | [(19.8%)](/filings/0001819790-26-000064.md) | [(10.6%)](/filings/0001819790-25-000121.md) | [(5.5%) d](/filings/0001819790-26-000019.md) | [(4.3%)](/filings/0001819790-26-000064.md) | [(10.7%)](/filings/0001819790-26-000064.md) |
| Diluted EPS | $ per share | [(0.61)](/filings/0001819790-25-000121.md) | not reported | [(0.64)](/filings/0001819790-26-000038.md) | [(0.48)](/filings/0001819790-26-000064.md) | [(0.30)](/filings/0001819790-25-000121.md) | not reported | [(0.16)](/filings/0001819790-26-000038.md) | [(0.43)](/filings/0001819790-26-000064.md) |
| Free cash flow | $m | [(8.9) d](/filings/0001819790-25-000121.md) | [(22.3) d](/filings/0001819790-26-000019.md) | [(21.2)](/filings/0001819790-26-000038.md) | [(30.4) d](/filings/0001819790-26-000064.md) | [16.3 d](/filings/0001819790-25-000121.md) | [13.0 d](/filings/0001819790-26-000019.md) | [(30.5)](/filings/0001819790-26-000038.md) | [57.2 d](/filings/0001819790-26-000064.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [57.0](/filings/0001819790-23-000007.md) | [25.8](/filings/0001819790-25-000011.md) | [17.4](/filings/0001819790-26-000019.md) | [183](/filings/0001819790-26-000019.md) | [451](/filings/0001819790-26-000019.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(21.3%)](/filings/0001819790-23-000007.md) | [(242.9%)](/filings/0001819790-25-000011.md) | [(820.5%)](/filings/0001819790-26-000019.md) | [(65.9%)](/filings/0001819790-26-000019.md) | [(15.7%)](/filings/0001819790-26-000019.md) |
| Net margin | % | [(24.2%)](/filings/0001819790-23-000007.md) | [(240.5%)](/filings/0001819790-25-000011.md) | [(778.9%)](/filings/0001819790-26-000019.md) | [(63.2%)](/filings/0001819790-26-000019.md) | [(14.7%)](/filings/0001819790-26-000019.md) |
| Diluted EPS | $ per share | [(0.67)](/filings/0001819790-23-000007.md) | [(2.52)](/filings/0001819790-25-000011.md) | [(4.62)](/filings/0001819790-26-000019.md) | [(3.07)](/filings/0001819790-26-000019.md) | [(1.59)](/filings/0001819790-26-000019.md) |
| Free cash flow | $m | [3.2](/filings/0001819790-23-000007.md) | [(49.5)](/filings/0001819790-25-000011.md) | [(119)](/filings/0001819790-26-000019.md) | [(84.6)](/filings/0001819790-26-000019.md) | [(22.3)](/filings/0001819790-26-000019.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/tars/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $242.7m | 3,856,137 |  | Added +303,525 |
| [Deep Track Capital, LP](/funds/1856083.md) | 2026-06-30 | $230.8m | 3,666,768 |  | Added +66,768 |
| [RTW INVESTMENTS, LP](/funds/1493215.md) | 2026-06-30 | $211.3m | 3,357,059 |  | Added +11,034 |
| [Jupiter Topco LLC](/funds/2146052.md) | 2026-06-30 | $176.8m | 2,808,796 |  | Not compared |
| [Paradigm Biocapital Advisors LP](/funds/1855655.md) | 2026-06-30 | $174.7m | 2,775,649 |  | Added +213,495 |
| [JANUS HENDERSON GROUP PLC](/funds/1274173.md) | 2026-03-31 | $157.2m | 2,240,963 |  | Not compared |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $115.0m | 1,827,082 |  | Reduced −117,190 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $112.9m | 1,793,064 |  | Added +32,523 |
| [JENNISON ASSOCIATES LLC](/funds/53417.md) | 2026-06-30 | $104.7m | 1,663,655 |  | Reduced −48,469 |
| [TANG CAPITAL MANAGEMENT LLC](/funds/1232621.md) | 2026-06-30 | $98.7m | 1,568,266 |  | Added +379,642 |

## Recent filings

[All 664 filings](/companies/tars/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-13 | 20:00 ET | [8-K/A](/filings/0001819790-26-000069.md) | 9.01 Financial statements and exhibits | 0001819790-26-000069 |
| 2026-09-10 | 20:05 ET | [8-K](/filings/0001819790-26-000066.md) | 2.01 Completion of an acquisition or disposition; 8.01 Other events; 9.01 Financial statements and exhibits | 0001819790-26-000066 |
| 2026-08-06 | 11:25 ET | [10-Q](/filings/0001819790-26-000064.md) | Quarterly report, period 2026-06-30 | 0001819790-26-000064 |
| 2026-08-06 | 11:23 ET | [8-K](/filings/0001819790-26-000063.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001819790-26-000063 |
| 2026-08-06 | 11:11 ET | [8-K](/filings/0001819790-26-000062.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 8.01 Other events; 9.01 Financial statements and exhibits | 0001819790-26-000062 |
| 2026-08-06 | 11:08 ET | [8-K](/filings/0001819790-26-000060.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 8.01 Other events; 9.01 Financial statements and exhibits | 0001819790-26-000060 |
| 2026-07-13 | 20:11 ET | [8-K](/filings/0001819790-26-000048.md) | 5.02 Departure or appointment of officers or directors | 0001819790-26-000048 |
| 2026-07-08 | 20:13 ET | [8-K](/filings/0001819790-26-000046.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 8.01 Other events; 9.01 Financial statements and exhibits | 0001819790-26-000046 |
| 2026-06-29 | 20:19 ET | [8-K](/filings/0001819790-26-000043.md) | 5.07 Shareholder vote results | 0001819790-26-000043 |
| 2026-05-06 | 20:10 ET | [10-Q](/filings/0001819790-26-000038.md) | Quarterly report, period 2026-03-31 | 0001819790-26-000038 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001819790-26-000019.md), filed Feb 23, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/7f0d09a2-d92b-4596-8974-e878ba44b2bb)

## About the filer

- CIK: 1819790
- Tickers: TARS
- Exchange: Nasdaq
- SIC code: 2836 Biological Products, (No Diagnostic Substances)
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:48 ET. No prices; not investment advice.