Tonix Pharmaceuticals Holding Corp. (TNXP) Income Statement
TNXP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTNXP revenue and net income
Where TNXP's revenue goes
2025Each bar shows an amount and its share of revenue. TNXP kept −946.2% of revenue as net income.
TNXP profit margins
TNXP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +29.8% | +13.2% | +35.1% | — |
| Gross profit | +95.0% | — | — | — |
| 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.
TNXP quarterly EPS vs estimates
Tonix Pharmaceuticals beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 9, 2026 (estimate $-2.52).
TNXP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.1M | $10.1M | $7.8M | $9.0M | $0 | $2.9M | $0 | $0 | $0 | $0 |
| Cost of revenue | $8.6M | $7.8M | $4.7M | $112.1M | $92.3M | $50.5M | $28.8M | $26.3M | $21.3M | $39.0M |
| Gross profit | $4.5M | $2.3M | $3.0M | −$112.1M | −$92.3M | −$50.5M | −$28.8M | −$26.3M | −$21.3M | −$39.0M |
| Research & development | $44.5M | $40.4M | $86.7M | $81.9M | $68.8M | $36.2M | $18.2M | $17.6M | $13.3M | $28.5M |
| Sales, general & admin | $87.7M | $40.1M | $34.8M | $30.2M | $23.5M | $14.4M | $10.6M | $8.8M | $7.9M | $10.4M |
| Total operating expenses | $130.2M | $139.0M | $121.4M | $112.1M | $92.3M | $50.5M | $28.8M | $26.3M | $21.3M | $39.0M |
| Operating income | −$125.7M | −$136.7M | −$118.4M | −$112.1M | −$92.3M | −$50.5M | −$28.8M | −$26.3M | −$21.3M | −$39.0M |
| Interest income | $4.1M | $22,000 | $2.8M | $1.9M | $25,000 | $48,000 | $210,000 | $233,000 | $168,000 | $127,000 |
| Interest expense | $89,000 | $1.2M | — | $7.9M | $50,000 | $0 | $0 | $0 | $0 | $0 |
| Income before taxes | −$124.0M | −$130.0M | −$116.7M | −$110.2M | −$92.3M | −$50.5M | −$28.6M | −$26.1M | −$21.1M | −$38.8M |
| Income taxes | — | −$1.2M | −$1 | $4.8M | −$75,000 | −$75,000 | −$236,000 | $233,000 | −$70,000 | −$206,000 |
| Net income | −$124.0M | −$130.0M | −$116.7M | −$115.0M | −$92.2M | −$50.4M | −$28.4M | −$26.1M | −$21.1M | −$38.8M |
| EBITDA | −$122.0M | −$74.3M | −$112.4M | −$110.8M | −$92.3M | −$50.5M | −$28.8M | −$26.3M | −$21.2M | −$38.8M |
| EPS (diluted) | −$14.32 | −$1075.55 | −$24832.86 | −$70200.56 | −$121602.24 | −$204812.80 | −$4000000.00 | −$3001952.00 | −$3002176.00 | −$3000002.97 |
| Gross margin | 34.7% | 23.1% | 39.0% | −1,241.7% | — | −1,733.4% | — | — | — | — |
| Operating margin | −959.1% | −1,354.3% | −1,523.9% | −1,241.7% | — | −1,733.4% | — | — | — | — |
| Net margin | −946.2% | −1,288.3% | −1,501.8% | −1,274.0% | — | −1,729.2% | — | — | — | — |
| 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 | $13.5M | $6.9M | $5.4M | $3.3M | $2.0M | $2.4M | $2.6M | $2.8M | $2.2M | $2.5M | $3.8M | $4.0M |
| Cost of revenue | $703,000 | $2.1M | $1.5M | $1.4M | $3.3M | $943,000 | $1.2M | $1.6M | $3.4M | $1.7M | $2.4M | $2.4M |
| Gross profit | $12.8M | $4.7M | $3.8M | $1.9M | −$1.3M | $1.5M | $1.4M | $1.3M | −$1.2M | $822,000 | $1.4M | $1.6M |
| Research & development | $19.4M | $18.2M | $16.9M | $9.3M | $10.8M | $7.4M | $8.3M | $9.1M | $9.7M | $12.9M | $17.1M | $21.1M |
| Sales, general & admin | $36.0M | $28.6M | $26.3M | $25.7M | $16.2M | $10.1M | $15.6M | $7.7M | $7.5M | $9.3M | $11.6M | $8.7M |
| Total operating expenses | $55.4M | $46.3M | $52.1M | $35.0M | $27.0M | $17.5M | $23.9M | $16.8M | $17.2M | $22.2M | $31.1M | $29.8M |
| Operating income | −$42.5M | −$41.5M | −$48.3M | −$33.1M | −$28.3M | −$16.1M | −$22.5M | −$15.6M | −$18.4M | −$21.4M | −$27.3M | −$28.1M |
| Interest income | $1.4M | $1.3M | $1.3M | $1.2M | $943,000 | $394,000 | — | $18,000 | $1,000 | — | — | $172,000 |
| Interest expense | — | — | $89,000 | $0 | — | — | — | $301,000 | — | $1.8M | — | — |
| Income before taxes | −$40.6M | −$40.2M | −$46.9M | −$32.0M | −$28.3M | −$16.8M | −$22.1M | −$14.2M | −$78.8M | −$14.9M | −$27.3M | −$28.0M |
| Income taxes | — | — | — | — | — | — | $43,000 | — | — | −$1.2M | — | −$1.2M |
| Net income | −$40.6M | −$40.2M | −$46.9M | −$32.0M | −$28.3M | −$16.8M | −$22.1M | −$14.2M | −$78.8M | −$14.9M | −$27.3M | −$28.0M |
| EBITDA | −$39.9M | −$39.6M | −$46.4M | −$31.5M | −$27.8M | −$16.3M | −$21.6M | −$13.7M | −$77.6M | −$13.7M | — | −$26.8M |
| EPS (diluted) | −$2.44 | −$2.93 | −$3.98 | −$3.70 | −$4.00 | −$2.64 | −$9.77 | −$25.56 | −$464.22 | −$576.00 | −$0.86 | −$5856.00 |
| Gross margin | 94.8% | 69.0% | 71.3% | 58.4% | −63.8% | 61.2% | 54.2% | 44.9% | −52.5% | 33.1% | 37.4% | 40.5% |
| Operating margin | −314.1% | −603.9% | −895.8% | −1,005.1% | −1,416.2% | −660.9% | −870.6% | −551.2% | −831.5% | −860.2% | −723.2% | −705.6% |
| Net margin | −299.4% | −584.4% | −870.3% | −972.9% | −1,415.0% | −692.8% | −856.2% | −503.6% | −3,567.8% | −601.9% | −723.0% | −701.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TNXP's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TNXP financial results
In fiscal year 2025 (ended December 31, 2025), Tonix Pharmaceuticals reported revenue of $13.1 million, up 29.8% from the year before. It had a net loss of $124.0 million, a net profit margin of −946.2%. Diluted earnings per share came to −$14.32. Over five years revenue grew at an average rate of 35.1% a year.
See the TNXP stock overview for the latest quote and news, or the TNXP chart for price history and technical indicators.
TNXP income statement FAQ
What is Tonix Pharmaceuticals's annual revenue?
Tonix Pharmaceuticals reported total revenue of $13.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 29.8% from $10.1 million the previous year.
Is Tonix Pharmaceuticals profitable?
No. Tonix Pharmaceuticals reported a net loss of $124.0 million in fiscal 2025, a net profit margin of −946.2%; its operating margin was −959.1%.
What is Tonix Pharmaceuticals's gross margin?
Tonix Pharmaceuticals's gross margin was 34.7% in fiscal 2025: for every $100 of revenue, Tonix Pharmaceuticals kept $35 after the direct cost of its products and services.
How much does Tonix Pharmaceuticals spend on research and development?
Tonix Pharmaceuticals spent $44.5 million on research and development in fiscal 2025, 339.4% of revenue.
How fast is Tonix Pharmaceuticals growing?
Revenue grew 35.1% a year on average over the last five fiscal years, from $2.9 million to $13.1 million.
What are Tonix Pharmaceuticals's earnings per share?
Tonix Pharmaceuticals earned $-14.32 per diluted share in fiscal 2025, compared with $-1075.55 a year earlier.
When will Tonix Pharmaceuticals report its next earnings?
Tonix Pharmaceuticals is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 before the market opens.
When does Tonix Pharmaceuticals's fiscal year end?
Tonix Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.