Tectonic Therapeutic Inc. (TECX) Income Statement
TECX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTECX revenue and net income
TECX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TECX quarterly EPS vs estimates
Tectonic Therapeutic beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $-1.38).
TECX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $1.6M | $617,000 | $4.2M | $1.4M | $1.2M | $850,000 | $380,000 | $45,000 | — |
| Gross profit | — | −$1.6M | −$617,000 | −$4.2M | −$1.4M | −$1.2M | −$850,000 | −$380,000 | −$45,000 | — |
| Research & development | $63.5M | $41.4M | $37.0M | $25.7M | $11.0M | $86.0M | $55.0M | $35.1M | $15.2M | $2.7M |
| Sales, general & admin | $20.5M | $16.7M | $7.7M | $7.2M | $4.6M | — | — | — | — | — |
| Total operating expenses | $84.0M | $58.0M | $44.6M | $32.8M | $15.6M | $119.0M | $75.0M | $45.9M | $18.3M | $4.6M |
| Operating income | −$84.0M | −$58.0M | −$44.6M | −$32.8M | −$15.6M | −$120.2M | −$75.8M | −$46.2M | −$18.4M | −$4.6M |
| Interest income | $11.3M | $4.3M | $581,000 | $149,000 | $0 | — | — | — | — | — |
| Interest expense | $63,000 | $107,000 | $152,000 | $144,000 | $224,000 | — | — | — | — | — |
| Income before taxes | −$72.9M | −$58.0M | −$42.8M | −$32.2M | −$8.9M | −$119.7M | −$73.0M | −$46.4M | −$18.6M | −$4.7M |
| Income taxes | $1.2M | — | $377,000 | — | — | — | — | — | — | — |
| Net income | −$74.2M | −$58.0M | −$42.8M | −$32.2M | −$8.9M | −$119.7M | −$73.0M | −$46.4M | −$18.6M | −$4.7M |
| EBITDA | −$71.5M | −$56.2M | −$41.2M | −$31.0M | −$8.1M | −$118.5M | −$72.1M | −$46.0M | −$18.6M | −$4.7M |
| EPS (diluted) | −$4.05 | −$8.18 | −$0.03 | −$2.41 | −$2.79 | −$3.31 | −$10.55 | −$19.25 | −$9.35 | −$2.33 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | — | — | — | $340,000 | $360,000 | $508,000 | $424,000 | $264,000 | $377,000 | $373,000 | $371,000 |
| Gross profit | — | — | — | — | −$340,000 | −$360,000 | −$508,000 | −$424,000 | −$264,000 | −$377,000 | −$373,000 | −$371,000 |
| Research & development | $18.0M | $20.9M | $16.3M | $16.9M | $17.2M | $13.0M | $9.2M | $14.3M | $7.1M | $10.8M | $7.2M | $8.1M |
| Sales, general & admin | $6.2M | $6.4M | $5.2M | $5.0M | $5.1M | $5.3M | $4.8M | $5.3M | $4.4M | $2.1M | $2.2M | $2.0M |
| Total operating expenses | $24.2M | $27.3M | $21.5M | $21.9M | $22.3M | $18.3M | $14.0M | $19.6M | $11.4M | $13.0M | $9.4M | $10.1M |
| Operating income | −$24.2M | −$27.3M | −$21.5M | −$21.9M | −$22.3M | −$18.3M | −$14.0M | −$19.6M | −$11.4M | −$13.0M | −$9.4M | −$10.1M |
| Interest income | $2.0M | $2.2M | $2.6M | $2.9M | $3.4M | $2.4M | $1.7M | $2.0M | $318,000 | $256,000 | $133,000 | $96,000 |
| Interest expense | $6,000 | $8,000 | $12,000 | $14,000 | $17,000 | $20,000 | $22,000 | $25,000 | $28,000 | $31,000 | $34,000 | $36,000 |
| Income before taxes | −$22.2M | −$25.2M | −$19.0M | −$19.0M | −$19.0M | −$15.9M | −$12.4M | −$17.7M | −$12.7M | −$15.2M | −$7.9M | −$10.1M |
| Income taxes | $77,000 | — | $254,000 | — | $976,000 | — | — | — | — | −$377,000 | $377,000 | −$371,000 |
| Net income | −$22.3M | −$25.2M | −$19.2M | −$19.0M | −$20.0M | −$15.9M | −$12.4M | −$17.7M | −$12.7M | −$15.2M | −$7.9M | −$10.1M |
| EBITDA | −$21.9M | −$24.9M | −$18.3M | −$18.7M | −$18.7M | −$15.5M | −$11.8M | −$17.3M | −$12.3M | −$14.8M | −$7.5M | −$9.6M |
| EPS (diluted) | −$1.18 | −$1.34 | −$1.03 | −$1.02 | −$1.07 | −$0.93 | −$0.84 | −$1.20 | −$4.34 | −$1.80 | −$0.50 | −$0.48 |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TECX's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TECX financial results
Tectonic Therapeutic reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $74.2 million. Diluted earnings per share came to −$4.05.
See the TECX stock overview for the latest quote and news, or the TECX chart for price history and technical indicators.
TECX income statement FAQ
Does Tectonic Therapeutic have revenue?
Tectonic Therapeutic reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Tectonic Therapeutic profitable?
No. Tectonic Therapeutic reported a net loss of $74.2 million in fiscal 2025.
How much does Tectonic Therapeutic spend on research and development?
Tectonic Therapeutic spent $63.5 million on research and development in fiscal 2025.
What are Tectonic Therapeutic's earnings per share?
Tectonic Therapeutic earned $-4.05 per diluted share in fiscal 2025, compared with $-8.18 a year earlier.
When will Tectonic Therapeutic report its next earnings?
Tectonic Therapeutic is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Tectonic Therapeutic's fiscal year end?
Tectonic Therapeutic's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.