Revenue remains highly volatile, evidenced by a 100% year-over-year decline in 2026Q1, as the company relies exclusively on lumpy milestone payments rather than recurring commercial sales.
| Sales/Revenue | 56.99M | 62.38M | 42.07M | 36.53M | 24.86M | 37.04M | 7.66M | 24.65M |
| Revenue Growth % | 39.04% | 48.29% | 15.17% | 46.93% | -32.89% | 383.83% | -68.94% | - |
| Cost of Goods Sold | 1.57M | 2.28M | 0 | 0 | 0 | 0 | 1.63M | 32.27M |
| COGS % of Revenue | - | 3.66% | - | - | - | - | 21.23% | 130.93% |
| Gross Profit | 55.42M | 60.1M | 42.07M | 36.53M | 24.86M | 37.04M | 6.03M | -7.63M |
| Gross Margin % | 97.25% | 96.34% | 100% | 100% | 100% | 100% | 78.77% | -30.93% |
| Gross Profit Growth % | - | 42.87% | 15.17% | 46.93% | -32.89% | 514.19% | 179.1% | - |
| Operating Expenses | 172.95M | 171.39M | 187.66M | 150.7M | 135.93M | 95.23M | 58.23M | 7.54M |
| OpEx % of Revenue | - | 274.74% | 446.09% | 412.57% | 546.79% | 257.09% | 760.59% | 30.58% |
| Selling, General & Admin | 45.26M | 41.51M | 43.75M | 35.5M | 30.02M | 17.6M | 8.24M | 7.54M |
| SG&A % of Revenue | - | 66.54% | 103.99% | 97.19% | 120.78% | 47.5% | 107.63% | 30.58% |
| Research & Development | 129.35M | 132.16M | 143.92M | 115.2M | 105.91M | 77.64M | 49.99M | 32.27M |
| R&D % of Revenue | - | 211.86% | 342.1% | 315.38% | 426.01% | 209.59% | 652.97% | 130.93% |
| Other Operating Expenses | -1000K | -2.28M | 0 | 0 | 0 | 0 | 0 | -32.27M |
| Operating Income | -117.53M | -111.29M | -145.59M | -114.17M | -111.07M | -58.19M | -52.2M | -15.16M |
| Operating Margin % | -206.22% | -178.39% | -346.09% | -312.57% | -446.79% | -157.09% | -681.82% | -61.51% |
| Operating Income Growth % | - | 23.56% | -27.52% | -2.79% | -90.88% | -11.48% | -244.28% | - |
| EBITDA | -115.41M | -109.01M | -143.1M | -111.76M | -109.46M | -57.29M | -50.58M | -14.52M |
| EBITDA Margin % | -202.5% | -174.74% | -340.15% | -305.96% | -440.32% | -154.67% | -660.59% | -58.9% |
| EBITDA Growth % | 19.51% | 23.82% | -28.04% | -2.1% | -91.06% | -13.28% | -248.34% | - |
| D&A (Non-Cash Add-back) | 2.12M | 2.28M | 2.5M | 2.42M | 1.61M | 897K | 1.63M | 643K |
| EBIT | -115.38M | -111.29M | -145.59M | -114.17M | -111.07M | -58.19M | -51.97M | -15.16M |
| Net Interest Income | 6.19M | 5.63M | 7.89M | 6.62M | 1.46M | 495K | 108K | 684K |
| Interest Income | 6.19M | 5.63M | 7.89M | 6.62M | 1.46M | 495K | 108K | 684K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 10.27M | 9.7M | 15.5M | 12.56M | 2.95M | 247K | 228K | 1.07M |
| Pretax Income | -107.26M | -101.59M | -130.09M | -101.61M | -108.12M | -57.94M | -51.97M | -14.1M |
| Pretax Margin % | -188.2% | -162.85% | -309.24% | -278.18% | -434.92% | -156.43% | -678.84% | -57.18% |
| Income Tax | -29K | 4K | 208K | 134K | 54K | 292K | 0 | 0 |
| Effective Tax Rate % | 0.03% | -0% | -0.16% | -0.13% | -0.05% | -0.5% | 0% | 0% |
| Net Income | -107.23M | -101.59M | -130.3M | -101.74M | -108.18M | -58.23M | -51.97M | -14.1M |
| Net Margin % | -188.15% | -162.85% | -309.73% | -278.54% | -435.14% | -157.21% | -678.84% | -57.18% |
| Net Income Growth % | 18.93% | 22.03% | -28.07% | 5.95% | -85.76% | -12.05% | -268.73% | - |
| Net Income (Continuing) | -107.23M | -101.59M | -130.3M | -101.74M | -108.18M | -58.23M | -51.97M | -14.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.75 | -0.87 | -1.19 | -1.08 | -1.23 | -0.94 | -1.62 | -1.57 |
| EPS Growth % | 31.41% | 26.89% | -10.19% | 12.2% | -30.85% | 41.98% | -3.18% | - |
| EPS (Basic) | - | -0.87 | -1.19 | -1.08 | -1.23 | -0.94 | -1.62 | -1.57 |
| Diluted Shares Outstanding | 143.58M | 116.17M | 109.23M | 94.57M | 87.82M | 62.11M | 87.47M | 87.47M |
| Basic Shares Outstanding | 143.58M | 116.17M | 109.23M | 94.57M | 87.82M | 62.11M | 87.47M | 87.47M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Collaboration revenue concentration risk
As reported in financial statements, TNGX's revenue trajectory remains highly volatile, characterized by a 100% decline in quarterly revenue during early 2026, reflecting the project-based nature of collaboration agreements rather than a sustainable commercial growth trend in the company's underlying oncology research and development pipeline.
The absence of recurring product revenue suggests that top-line performance is entirely dependent on the timing of technical milestones within the Gilead partnership. Investors should monitor the sustainability of these inflows, as the current revenue model lacks the predictability required for long-term valuation stability.
Based on TNGX's reported figures, R&D expenses have remained consistently elevated, averaging over $30 million per quarter, which underscores the capital-intensive nature of advancing synthetic lethality programs through clinical phases without the offset of commercial-stage revenue streams to mitigate the ongoing operational burn.
The company's cost structure is dominated by research and development, which appears to be the primary driver of persistent operating losses. This expense discipline suggests a strategic focus on pipeline advancement, though it necessitates continuous capital access to sustain operations until a potential commercial inflection point.
According to recent SEC filings, TNGX consistently records significant stock-based compensation expenses, often exceeding $6 million per quarter, which effectively dilutes shareholder value while simultaneously obscuring the true cash cost of retaining the specialized scientific talent required for the company's proprietary CRISPR-based discovery platform.
The reliance on equity-based incentives appears to be a structural necessity for talent retention in the competitive biotech landscape. Analysts should adjust for these non-cash charges when evaluating the company's true operational efficiency and the actual cash runway remaining for clinical trial execution.
Financial data indicates that TNGX's entire revenue base is tied to a single counterparty, creating a significant concentration risk where any strategic shift by Gilead Sciences could jeopardize the company's primary funding source and fundamentally undermine the current valuation of its synthetic lethality pipeline.
The lack of diversified revenue streams leaves the company vulnerable to external decision-making beyond its control. This dependency warrants further investigation into the specific terms of the collaboration, as the potential for milestone delays could rapidly accelerate the need for dilutive equity financing.
Quick answers to the most common questions about buying TNGX stock.
For fiscal year 2025, Tango Therapeutics, Inc. (TNGX) reported total revenue of $62.4M. This represents a 153.1% increase compared to $24.6M in 2019.
Tango Therapeutics, Inc. (TNGX) reported a net loss of $101.6M for the fiscal year ending 2025.
Tango Therapeutics, Inc. (TNGX) reported an operating income of $-111.3M, resulting in an operating profit margin of -178.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Tango Therapeutics, Inc. (TNGX) generated $60.1M in gross profit for the year, representing a gross profit margin of 96.3%. This demonstrates the company's core pricing power and production efficiency.