Revenue remains highly volatile and project-dependent, with the company reporting a 100% year-over-year revenue decline in 2026Q1 as R&D expenses surged to $33.8M.
| Sales/Revenue | 7.47M | 9.77M | 8.33M | 15.45M | 2.5M | 0 | 0 | 0 |
| Revenue Growth % | 3.42% | 17.28% | -46.07% | 517.55% | - | - | - | - |
| Cost of Goods Sold | 585K | 0 | 0 | 0 | 2.49M | 0 | 9K | 0 |
| COGS % of Revenue | - | - | - | - | 99.4% | - | - | - |
| Gross Profit | 6.89M | 9.77M | 8.33M | 15.45M | 15K | 0 | -9K | 0 |
| Gross Margin % | 92.17% | 100% | 100% | 100% | 0.6% | - | - | - |
| Gross Profit Growth % | - | 17.28% | -46.07% | 102913.53% | - | 100% | - | - |
| Operating Expenses | 139.45M | 120.27M | 99.79M | 87.89M | 126.04M | 173.27M | 42.99M | 1.11M |
| OpEx % of Revenue | - | 1230.65% | 1197.55% | 568.83% | 5037.65% | - | - | - |
| Selling, General & Admin | 35.39M | 33.87M | 28.95M | 30.05M | 34.87M | 41.32M | 11.1M | 128K |
| SG&A % of Revenue | - | 346.55% | 347.45% | 194.47% | 1393.81% | - | - | - |
| Research & Development | 104.06M | 86.4M | 66M | 56.78M | 91.17M | 131.94M | 31.89M | 987K |
| R&D % of Revenue | - | 884.1% | 792.04% | 367.47% | 3643.84% | - | - | - |
| Other Operating Expenses | 0 | 0 | 4.84M | 1.06M | 0 | 0 | 0 | 0 |
| Operating Income | -132.56M | -110.5M | -91.46M | -72.44M | -126.03M | -173.27M | -43M | -1.11M |
| Operating Margin % | -1774.37% | -1130.65% | -1097.55% | -468.83% | -5037.05% | - | - | - |
| Operating Income Growth % | - | -20.82% | -26.26% | 42.52% | 27.26% | -302.93% | -3756.68% | - |
| EBITDA | -131.7M | -109.35M | -90.21M | -71.07M | -123.54M | -172.78M | -42.99M | 3.35M |
| EBITDA Margin % | -1762.83% | -1118.93% | -1082.61% | -459.96% | -4937.65% | - | - | - |
| EBITDA Growth % | -50.78% | -21.22% | -26.94% | 42.47% | 28.5% | -301.87% | -1385.29% | - |
| D&A (Non-Cash Add-back) | 862K | 1.15M | 1.25M | 1.37M | 2.49M | 492K | 9K | 4.46M |
| EBIT | -87.88M | -108.93M | -89.2M | -106.57M | -162.22M | -173.09M | -59.98M | -4.46M |
| Net Interest Income | 7.85M | 9.16M | 6.84M | -1.43M | -3.55M | -1.26M | 21K | 0 |
| Interest Income | 10.48M | 9.22M | 6.94M | 3.57M | 249K | 172K | 49K | 0 |
| Interest Expense | 35K | 63K | 102K | 5M | 3.8M | 1.43M | 28K | 0 |
| Other Income/Expense | 2.69M | 1.5M | 2.16M | -39.13M | -39.99M | -1.26M | -17.01M | 0 |
| Pretax Income | -129.88M | -109M | -89.3M | -111.57M | -166.01M | -174.52M | -60.01M | -1.11M |
| Pretax Margin % | -1738.4% | -1115.27% | -1071.62% | -722.06% | -6635.25% | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -129.88M | -109M | -89.3M | -111.57M | -166.01M | -174.52M | -43M | -1.11M |
| Net Margin % | -1738.4% | -1115.27% | -1071.62% | -722.06% | -6635.25% | - | - | - |
| Net Income Growth % | -49.69% | -22.06% | 19.96% | 32.8% | 4.88% | -305.87% | -3756.5% | - |
| Net Income (Continuing) | -129.88M | -109M | -89.3M | -111.57M | -166.01M | -174.52M | -60.01M | -1.11M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.35 | -0.34 | -0.36 | -0.96 | -3.78 | -4.64 | -3.40 | -0.03 |
| EPS Growth % | -7.29% | 5.56% | 62.5% | 74.6% | 18.53% | -36.47% | -11195.68% | - |
| EPS (Basic) | - | -0.34 | -0.36 | -0.96 | -3.78 | -4.64 | -3.40 | -0.03 |
| Diluted Shares Outstanding | 366.63M | 319.71M | 250.13M | 116.12M | 43.95M | 37.65M | 17.67M | 36.99M |
| Basic Shares Outstanding | 366.63M | 319.71M | 250.13M | 116.12M | 43.95M | 37.65M | 17.67M | 36.99M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Binary clinical trial dependency
As reported in financial filings, TSHA's revenue trajectory remains highly volatile and project-dependent, characterized by intermittent quarterly inflows that reached $5.5M in 2025Q4, reflecting the company's reliance on strategic partnership milestones rather than a consistent, recurring commercial sales model for its gene therapy pipeline.
The absence of sustained revenue growth suggests that the company's financial performance is tethered to the timing of collaboration tranches rather than operational scale. Investors should monitor whether future milestone recognition can provide a reliable bridge to potential commercialization or if revenue will continue to exhibit significant, unpredictable quarterly swings.
Based on recent income statements, TSHA's R&D expenditure has trended upward to $33.8M in 2026Q1, indicating that the company is aggressively prioritizing clinical development over expense discipline as it attempts to advance its lead candidate through critical regulatory and trial milestones.
The persistent rise in R&D spending relative to stagnant revenue suggests a widening gap that necessitates constant capital infusion. This cost structure appears to be a deliberate, albeit high-risk, strategy to accelerate the clinical timeline, though it leaves the firm with little margin for error regarding its cash runway.
According to historical financial data, TSHA's net income has been significantly distorted by non-operating items, such as the anomalous $47.7M profit in 2023Q4, which masks the underlying reality of a business that is consistently generating substantial operating losses across all other reported periods.
The volatility in net income highlights the danger of relying on bottom-line figures to assess the company's health. Analysts should focus on operating losses, which provide a more accurate, albeit sobering, view of the cash-intensive nature of the firm's current development-stage business model.
As evidenced by the reported -1130% operating margins, TSHA faces extreme financial pressure, with the company's survival appearing contingent on its ability to maintain its $319M cash pile while navigating the high-stakes, binary outcomes inherent in its current gene therapy clinical development program.
Short-term observers may point to the lack of a commercial product as a fundamental barrier to long-term viability. The reliance on external partnerships for funding creates a structural vulnerability, as any delay in clinical progress could severely impair the company's ability to secure future capital on favorable terms.
Quick answers to the most common questions about buying TSHA stock.
For fiscal year 2025, Taysha Gene Therapies, Inc. (TSHA) reported total revenue of $9.8M.
Taysha Gene Therapies, Inc. (TSHA) reported a net loss of $109.0M for the fiscal year ending 2025.
Taysha Gene Therapies, Inc. (TSHA) reported an operating income of $-110.5M, resulting in an operating profit margin of -1130.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Taysha Gene Therapies, Inc. (TSHA) generated $9.8M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.