# Tvardi Therapeutics, Inc.: financial statements, quarterly

TVRD · Nasdaq · CIK 1346830 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

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

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/tvrd/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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 | [4.9](/filings/0001558370-24-015713.md) | [3.0 d](/filings/0001558370-25-002705.md) | [2.1](/filings/0001558370-25-007575.md) | [1.0](/filings/0001558370-24-012231.md) | [2.6](/filings/0001558370-24-015713.md) | [1.5 d](/filings/0001558370-25-002705.md) | [2.6](/filings/0001558370-25-007575.md) | not reported | not reported | not reported | not reported | not reported |
| Research and development | $m | [25.5](/filings/0001558370-24-015713.md) | [28.4 d](/filings/0001558370-25-002705.md) | [22.0](/filings/0001558370-25-007575.md) | [6.5](/filings/0001558370-25-011562.md) | [4.8](/filings/0001104659-25-111289.md) | [8.6 d](/filings/0001104659-26-037729.md) | [3.1](/filings/0001104659-26-057528.md) | [5.8](/filings/0001104659-26-096424.md) | [3.6](/filings/0001104659-25-111289.md) | [5.5 d](/filings/0001104659-26-037729.md) | [4.9](/filings/0001104659-26-057528.md) | [4.0](/filings/0001104659-26-096424.md) |
| Operating income | $m | [(28.9)](/filings/0001558370-24-015713.md) | [(32.6) d](/filings/0001558370-25-002705.md) | [(29.7)](/filings/0001558370-25-007575.md) | [(7.2)](/filings/0001558370-25-011562.md) | [(5.7)](/filings/0001104659-25-111289.md) | [(10.8) d](/filings/0001104659-26-037729.md) | [(4.4)](/filings/0001104659-26-057528.md) | [(8.9)](/filings/0001104659-26-096424.md) | [(5.9)](/filings/0001104659-25-111289.md) | [(7.6) d](/filings/0001104659-26-037729.md) | [(7.1)](/filings/0001104659-26-057528.md) | [(6.6)](/filings/0001104659-26-096424.md) |
| Income tax | $m | [0.0](/filings/0001558370-24-015713.md) | [0.0 d](/filings/0001558370-25-002705.md) | [0.0](/filings/0001558370-25-007575.md) | [0.0](/filings/0001558370-24-012231.md) | [0.0](/filings/0001558370-24-015713.md) | [0.0 d](/filings/0001104659-26-037729.md) | [0.0](/filings/0001558370-25-007575.md) | not reported | not reported | not reported | not reported | not reported |
| Net income | $m | [(28.0)](/filings/0001558370-24-015713.md) | [(32.3) d](/filings/0001558370-25-002705.md) | [(4.2)](/filings/0001104659-25-111289.md) | [(7.0)](/filings/0001104659-25-111289.md) | [(5.5)](/filings/0001104659-25-111289.md) | [(12.7) d](/filings/0001104659-26-037729.md) | [(9.6)](/filings/0001104659-26-096424.md) | [4.2](/filings/0001104659-26-096424.md) | [(5.5)](/filings/0001104659-25-111289.md) | [(7.3) d](/filings/0001104659-26-037729.md) | [(6.8)](/filings/0001104659-26-096424.md) | [(6.5)](/filings/0001104659-26-096424.md) |
| Diluted EPS | $ per share | [(0.52)](/filings/0001558370-24-015713.md) | not reported | [(20.24)](/filings/0001558370-25-007575.md) | [(2.71)](/filings/0001558370-25-011562.md) | [(2.14)](/filings/0001104659-25-111289.md) | not reported | [(3.72)](/filings/0001104659-26-057528.md) | [(1.00)](/filings/0001104659-26-096424.md) | [(0.59)](/filings/0001104659-25-111289.md) | not reported | [(0.73)](/filings/0001104659-26-057528.md) | [(0.69)](/filings/0001104659-26-096424.md) |
| Basic EPS | $ per share | [(0.52)](/filings/0001558370-24-015713.md) | not reported | [(20.24)](/filings/0001558370-25-007575.md) | [(2.71)](/filings/0001558370-25-011562.md) | [(2.14)](/filings/0001104659-25-111289.md) | not reported | [(3.72)](/filings/0001104659-26-057528.md) | [0.51](/filings/0001104659-26-096424.md) | [(0.59)](/filings/0001104659-25-111289.md) | not reported | [(0.73)](/filings/0001104659-26-057528.md) | [(0.69)](/filings/0001104659-26-096424.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [62.9](/filings/0001558370-23-018837.md) | [51.8](/filings/0001558370-25-002705.md) | [47.0](/filings/0001558370-24-007964.md) | [49.2](/filings/0001558370-24-012231.md) | [37.1](/filings/0001558370-24-015713.md) | [31.6](/filings/0001104659-26-037729.md) | [34.2](/filings/0001558370-25-007575.md) | [20.6](/filings/0001558370-25-011562.md) | [21.4](/filings/0001104659-25-111289.md) | [20.7](/filings/0001104659-26-096424.md) | [19.9](/filings/0001104659-26-057528.md) | [15.8](/filings/0001104659-26-096424.md) |
| Current assets | $m | [101](/filings/0001558370-23-018837.md) | [116](/filings/0001558370-25-002705.md) | [81.2](/filings/0001558370-24-007964.md) | [63.9](/filings/0001558370-24-012231.md) | [47.9](/filings/0001558370-24-015713.md) | [31.7](/filings/0001104659-26-037729.md) | not reported | [43.1](/filings/0001558370-25-011562.md) | [38.4](/filings/0001104659-25-111289.md) | [31.5](/filings/0001104659-26-096424.md) | [25.3](/filings/0001104659-26-057528.md) | [17.1](/filings/0001104659-26-096424.md) |
| Total assets | $m | [115](/filings/0001558370-23-018837.md) | [126](/filings/0001558370-25-002705.md) | [90.1](/filings/0001558370-24-007964.md) | [72.5](/filings/0001558370-24-012231.md) | [51.3](/filings/0001558370-24-015713.md) | [35.2](/filings/0001104659-26-037729.md) | [38.9](/filings/0001558370-25-007575.md) | [43.8](/filings/0001558370-25-011562.md) | [39.0](/filings/0001104659-25-111289.md) | [32.1](/filings/0001104659-26-096424.md) | [25.8](/filings/0001104659-26-057528.md) | [17.5](/filings/0001104659-26-096424.md) |
| Current liabilities | $m | [22.9](/filings/0001558370-23-018837.md) | [25.6](/filings/0001558370-25-002705.md) | [15.1](/filings/0001558370-24-007964.md) | [13.9](/filings/0001558370-24-012231.md) | [10.0](/filings/0001558370-24-015713.md) | [10.4](/filings/0001104659-26-037729.md) | [1.2](/filings/0001558370-25-007575.md) | [10.7](/filings/0001558370-25-011562.md) | [11.0](/filings/0001104659-25-111289.md) | [11.0](/filings/0001104659-26-096424.md) | [11.3](/filings/0001104659-26-057528.md) | [9.1](/filings/0001104659-26-096424.md) |
| Total liabilities | $m | not reported | [68.8](/filings/0001558370-25-002705.md) | [60.3](/filings/0001558370-24-007964.md) | [60.9](/filings/0001558370-24-012231.md) | [50.6](/filings/0001558370-24-015713.md) | [40.8](/filings/0001104659-26-037729.md) | [47.0](/filings/0001558370-25-007575.md) | [10.8](/filings/0001558370-25-011562.md) | [11.2](/filings/0001104659-25-111289.md) | [11.1](/filings/0001104659-26-096424.md) | [11.3](/filings/0001104659-26-057528.md) | [9.1](/filings/0001104659-26-096424.md) |
| Shareholders' equity | $m | [85.6](/filings/0001558370-24-015713.md) | [(62.1)](/filings/0001104659-26-037729.md) | [(66.2)](/filings/0001104659-25-111289.md) | [(73.1)](/filings/0001104659-25-111289.md) | [(78.5)](/filings/0001104659-25-111289.md) | [(91.1)](/filings/0001104659-26-096424.md) | [(101)](/filings/0001104659-26-096424.md) | [32.9](/filings/0001104659-26-096424.md) | [27.9](/filings/0001104659-25-111289.md) | [20.9](/filings/0001104659-26-096424.md) | [14.5](/filings/0001104659-26-096424.md) | [8.4](/filings/0001104659-26-096424.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(19.6) d](/filings/0001558370-24-015713.md) | [(17.4) d](/filings/0001558370-25-002705.md) | [(30.5)](/filings/0001558370-25-007575.md) | [23.6 d](/filings/0001558370-25-011562.md) | [(6.7) d](/filings/0001104659-25-111289.md) | [(4.8) d](/filings/0001104659-26-037729.md) | [(7.7)](/filings/0001104659-26-057528.md) | [(5.9) d](/filings/0001104659-26-096424.md) | [(4.3) d](/filings/0001104659-25-111289.md) | [(5.7) d](/filings/0001104659-26-037729.md) | [(5.9)](/filings/0001104659-26-057528.md) | [(9.2) d](/filings/0001104659-26-096424.md) |
| Capital expenditure | $m | not reported | [2.1 d](/filings/0001558370-25-002705.md) | [0.8](/filings/0001558370-25-007575.md) | [0.2 d](/filings/0001558370-24-012231.md) | [0.0 d](/filings/0001558370-24-015713.md) | [0.0 d](/filings/0001558370-25-002705.md) | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [53.7](/filings/0001558370-23-018837.md) | [53.9](/filings/0001558370-24-007964.md) | [54.0](/filings/0001558370-24-012231.md) | [54.2](/filings/0001558370-24-015713.md) | [1.5](/filings/0001558370-25-007575.md) | [2.6](/filings/0001558370-25-011562.md) | [2.6](/filings/0001104659-25-111289.md) | [2.6](/filings/0001104659-26-057528.md) | [8.5](/filings/0001104659-26-096424.md) | [9.4](/filings/0001104659-25-111289.md) | [9.4](/filings/0001104659-26-057528.md) | [9.4](/filings/0001104659-26-096424.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 13,338,943 at 2026-08-11, from the cover of the [10-Q filed 2026-08-14](/filings/0001104659-26-096424.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:37 ET. No prices; not investment advice.