Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.4M | $8.00M | $2.15M | $2.29M | $5.42M | $2.82M | $0.00 | $651K | $0.00 | $28.0K |
| Revenue growth | — | -53.9% | -73.1% | 6.4% | 136.6% | -48.0% | -100.0% | — | -100.0% | — |
| Operating income | -$32.0M | -$38.7M | -$35.7M | -$54.2M | -$41.0M | -$36.0M | -$25.3M | -$16.9M | -$15.3M | -$13.5M |
| Operating margin | -184.1% | -483.8% | -1660.9% | -2368.1% | -756.3% | -1276.3% | — | -2594.3% | — | -48157.1% |
| Net income | -$43.2M | -$51.5M | -$47.1M | -$53.2M | -$40.4M | -$35.1M | $47.8M | -$18.4M | -$13.0M | -$14.3M |
| Net margin | -248.6% | -644.3% | -2192.0% | -2325.9% | -745.6% | -1245.5% | — | -2826.0% | — | -51035.7% |
| EPS (diluted) | -$0.95 | -$1.10 | -$0.81 | -$0.67 | -$0.47 | -$5.86 | $5.72 | -$1.29 | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$29.4M | -$29.8M | -$29.1M | -$51.2M | -$38.5M | -$30.0M | -$28.3M | -$17.5M | -$12.7M | -$11.4M |
| Capital expenditures | $3.72M | $2.40M | $819K | $3.47M | $1.85M | $1.83M | $364K | $100K | $0.00 | — |
| Free cash flow | -$33.1M | -$32.2M | -$29.9M | -$54.6M | -$40.4M | -$31.8M | -$28.7M | -$17.6M | -$12.7M | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $80.3M | $52.9M | $88.0M | $14.7M | $27.3M | $7.66M | $15.3M | $5.72M | $8.86M | $5.89M |
| Total assets | $100.0M | $75.6M | $121M | $91.4M | $66.3M | $77.9M | $47.5M | $20.4M | $18.2M | $29.7M |
| Total liabilities | $105M | $112M | $116M | $133M | $122M | $114M | $25.7M | $6.29M | $10.2M | $12.7M |
| Long-term debt | $18.6M | $11.4M | $3.38M | $20.5M | $13.1M | $5.01M | $0.00 | — | — | — |
| Shareholders' equity | -$5.34M | -$36.5M | $4.25M | -$41.4M | -$55.8M | -$35.9M | $21.8M | $14.1M | $8.00M | $17.0M |
| Retained earnings | -$246M | -$298M | -$345M | -$398M | -$438M | -$474M | -$426M | -$444M | -$457M | -$472M |
| Shares (wtd avg diluted) | 45.3M | 46.9M | 78.8M | 79.6M | 98.8M | 5.99M | 7.39M | 14.3M | 25.8M | 42.4M |
Every figure is extracted from TALPHERA, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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