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Tarsus Pharmaceuticals, Inc. TARS Clinical Milestones — Maximum milestone payments

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Other financials

Income statement

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Revenue$162.1M+107%
Gross profit$152.7M+109%
Operating income-$6.1M+76.7%
Net income-$7.0M+72.3%
EPS (diluted)-$0.16+75.0%

Balance sheet

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Cash & equivalents$104.2M-41.6%
Total debt$88.7M+22.5%
Total equity$349.0M+1.9%
Total assets$581.1M+16.1%

Cash flow

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Operating cash flow-$24.7M-19.4%
CapEx$5.8M+886%
Free cash flow-$30.5M-43.4%

Valuation

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Market cap$2.85B+41.1%
Enterprise value$2.83B+47.8%
P/S5.3×-3.3×

Profitability

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Gross margin42.7%
Operating margin-9.5%-4.2pp
Net margin-9%-4.0pp
FCF margin-28%-12.6pp

Returns & leverage

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Return on equity-14%-5.2pp
Debt / equity0.3×0.0×
Current ratio3.7×-1.8×

Where this comes from

Reported directly by Tarsus Pharmaceuticals, Inc. in its filing.

Tagged under the XBRL concept tars:CollaborativeArrangementMaximumMilestonePayment.

The official record: Tarsus Pharmaceuticals, Inc.’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tarsus Pharmaceuticals, Inc.'s clinical milestones — maximum milestone payments?
Tarsus Pharmaceuticals, Inc. (TARS) reported clinical milestones — maximum milestone payments of $4M in Q1 2026.
How has Tarsus Pharmaceuticals, Inc.'s clinical milestones — maximum milestone payments changed year-over-year?
Tarsus Pharmaceuticals, Inc.'s clinical milestones — maximum milestone payments decreased by 0.0% year-over-year, from $4M to $4M.
What is the long-term trend for Tarsus Pharmaceuticals, Inc.'s clinical milestones — maximum milestone payments?
Over 3 years (2022 to 2025), Tarsus Pharmaceuticals, Inc.'s clinical milestones — maximum milestone payments has grown at a -1.0% compound annual growth rate (CAGR), from $16.5M to $16M.
What does clinical milestones — maximum milestone payments mean?
This metric represents the total potential future payments that may be earned upon the successful achievement of all remaining clinical, regulatory, and commercial milestones under existing partnership or licensing agreements. It serves as a measure of the total remaining upside potential embedded within the company's current portfolio of collaborative assets. Monitoring this figure provides insight into the long-term value creation potential tied to the company's pipeline development and external partnerships.