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Tarsus Pharmaceuticals, Inc. TARS Commercial Sales Milestone Payments — Contractual milestone payment net sales

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Other financials

Income statement

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Revenue$173.9M+69.4%
Gross profit$161.8M+67.8%
Operating income-$19.9M+10.3%
Net income-$18.6M+8.8%
EPS (diluted)-$0.43+10.4%

Balance sheet

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Cash & equivalents$206.6M+108%
Total debt$88.8M+22.6%
Total equity$346.7M+4.2%
Total assets$611.1M+23.5%

Cash flow

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Operating cash flow$61.2M+308%
CapEx$4.1M+306%
Free cash flow$57.2M+288%

Valuation

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Market cap$2.84B+34.5%
Enterprise value$2.73B+30.6%
P/S4.7×-2.5×

Profitability

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Gross margin79.8%
Operating margin-8%-3.5pp
Net margin-7.7%-3.3pp
FCF margin-28%-12.6pp

Returns & leverage

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Return on equity-13.7%-4.9pp
Debt / equity0.3×0.0×
Current ratio3.2×-2.1×

Where this comes from

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

Tagged under the XBRL concept tars:CollaborativeArrangementRightsAndObligationsContractualMilestoneNetSales.

The source filing: Tarsus Pharmaceuticals, Inc.’s 10-Q, filed May 6, 2026.

Filed
May 6, 2026, 4:10 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001819790-26-000038

In October 2024, the Company executed a new in-license agreement from a third party for the exclusive worldwide rights to develop, manufacture, and commercialize a compound for all ophthalmic uses (the “October 2024 In-License Agreement”), and concurrently made an upfront payment of $2.5 million, which was recorded to research and development expense in the Statements of Operations and Comprehensive Loss for the year ended December 31, 2024. As of March 31, 2026, the Company is obligated to make potential future cash payments under the October 2024 In-License Agreement of $3.0 million upon the achievement of an event-based development milestone and up to $102.0 million for various commercial and

Item 1. Financial Statements

FAQ

What is Tarsus Pharmaceuticals, Inc.'s commercial sales milestone payments — contractual milestone payment net sales?
Tarsus Pharmaceuticals, Inc. (TARS) reported commercial sales milestone payments — contractual milestone payment net sales of $102M in Q1 2026.
What does commercial sales milestone payments — contractual milestone payment net sales mean?
This metric represents the net revenue recognized from contractual milestone payments triggered by the achievement of specific commercial sales thresholds for a licensed therapeutic product. It reflects the successful market penetration and commercial performance of the company's pharmaceutical assets as defined by underlying licensing or collaboration agreements. Tracking this figure provides insight into the realization of contingent revenue streams tied to product adoption.

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