The company remains in a pre-revenue phase with operating losses widening to $12.6M in 2025Q4, driven by a persistent upward trend in R&D spending.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 1.23M | 1.1M | 1.07M | 979K | 776K | 86K | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | -1.23M | -1.1M | -1.07M | -979K | -776K | -86K | 0 |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | -11.8% | -2.61% | -9.7% | -26.16% | -802.33% | - | - |
| Operating Expenses | 41.06M | 34.94M | 34.61M | 32.14M | 13.79M | 9.24M | 8.01M |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 10.22M | 7.92M | 9.26M | 11.25M | 2.34M | 1.7M | 1.37M |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 30.83M | 27.02M | 26.42M | 20.89M | 11.45M | 7.54M | 6.64M |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | -1.07M | 0 | 0 | 0 | 0 |
| Operating Income | -42.29M | -36.04M | 35.68M | -32.14M | -13.79M | -9.24M | -8.01M |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | -17.33% | -201.01% | 211.03% | -133.04% | -49.18% | -15.41% | - |
| EBITDA | -41.06M | -34.94M | 36.75M | -31.16M | -13.01M | -9.16M | -7.94M |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | -17.5% | -195.06% | 217.96% | -139.41% | -42.11% | -15.28% | - |
| D&A (Non-Cash Add-back) | 1.23M | 1.1M | 1.07M | 979K | 776K | 86K | 66K |
| EBIT | -42.29M | -31.4M | -29.1M | -33.72M | -13.99M | -9.24M | -8.01M |
| Net Interest Income | 3.42M | 3.93M | 4.72M | 21K | -13.06M | 396K | 776K |
| Interest Income | 3.84M | 4.28M | 4.75M | 1.79M | 211K | 613K | 776K |
| Interest Expense | 419K | 344K | 39K | 1.77M | 13.27M | 217K | 0 |
| Other Income/Expense | -218K | 4.3M | 6.54M | -1.61M | -13.47M | 520K | -308K |
| Pretax Income | -42.51M | -31.74M | -29.14M | -33.74M | -27.26M | -8.72M | -8.32M |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 121K | 6K | 16K | 20K | 7K | 158K | 146K |
| Effective Tax Rate % | -0.28% | -0.02% | -0.05% | -0.06% | -0.03% | -1.81% | -1.76% |
| Net Income | -42.63M | -31.75M | -29.16M | -33.76M | -27.27M | -8.88M | -8.46M |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | -34.26% | -8.89% | 13.64% | -23.8% | -207.04% | -4.94% | - |
| Net Income (Continuing) | -42.63M | -31.75M | -29.16M | -33.76M | -27.27M | -8.88M | -8.46M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.53 | -0.45 | -0.42 | -0.53 | -0.67 | -0.22 | -0.13 |
| EPS Growth % | -17.78% | -7.14% | 20.75% | 20.9% | -204.55% | -69.23% | - |
| EPS (Basic) | -0.53 | -0.45 | -0.42 | -0.53 | -0.67 | -0.22 | -0.13 |
| Diluted Shares Outstanding | 80.58M | 69.93M | 69.38M | 63.53M | 40.53M | 40.43M | 67.62M |
| Basic Shares Outstanding | 80.58M | 69.93M | 69.38M | 63.53M | 40.53M | 40.43M | 67.62M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Clinical Trial Funding Runway
As indicated by the most recent quarterly filings, DRTS has seen R&D expenditures climb to $9.6M in 2025Q4, reflecting a persistent upward trend in clinical development costs that continues to outpace the company's ability to generate any meaningful offsetting revenue or commercial-stage cost efficiencies.
The consistent rise in R&D spending suggests that the company is aggressively pushing its multi-indication clinical pipeline, which necessitates significant capital allocation toward trial execution. Investors should monitor whether this spending trajectory is sustainable given the lack of commercial revenue and the inherent volatility of nuclear material logistics.
Based on the reported financial statements, the company's operating losses have widened to $12.6M in 2025Q4, demonstrating that the firm remains in a pre-revenue phase where operating expenses are entirely decoupled from any potential top-line scaling or operational efficiency gains.
The absence of revenue means that every dollar spent on SG&A and R&D directly impacts the bottom line, resulting in a negative operating margin profile. This structure implies that the company is currently unable to leverage its existing infrastructure, leaving it highly sensitive to the timing of clinical milestones.
According to historical income statement data, the company's net losses have deepened to $12.1M in 2025Q4, a trend that highlights the significant impact of non-operating costs and the absence of revenue-generating activities on the firm's overall financial health and shareholder value.
The consistent net losses underscore the company's reliance on external financing to sustain its operations. Analysts should be wary of potential non-cash adjustments or warrant liabilities that may further complicate the interpretation of these bottom-line figures as the company approaches critical clinical readouts.
As reported in recent filings, the company's cash position of $15.9M appears insufficient to support the current $12.6M quarterly operating loss, suggesting that the firm faces a high probability of near-term dilution or a strategic pivot to maintain its ongoing clinical trial operations.
Short-sellers may focus on the widening gap between cash reserves and the burn rate, which could force management to seek capital under potentially unfavorable market conditions. This dynamic warrants further investigation into the company's ability to secure non-dilutive funding or partnerships to extend its operational runway.
Quick answers to the most common questions about buying DRTS stock.
For fiscal year 2025, Alpha Tau Medical Ltd. (DRTS) reported total revenue of $0.0M.
Alpha Tau Medical Ltd. (DRTS) reported a net loss of $42.6M for the fiscal year ending 2025.