Filing Flows › Tarsus Pharmaceuticals (TARS) › Q2 2025
Tarsus Pharmaceuticals (TARS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Tarsus Pharmaceuticals (TARS) reported revenue of $103M for the second quarter 2025 (Q2 2025), +152% from a year earlier and +31% from the quarter before. Operating margin was -21.6%, net loss $20.3M (19.8% of revenue).
Tarsus Pharmaceuticals, Q2 2025: revenue $103M (+152% year over year), operating margin -21.6%, net loss $20.3M, operating cash flow −$29.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $103M | +31% | +152% |
| Operating profit | −$22.2M | — | — |
| Net earnings | −$20.3M | — | — |
| Operating cash flow | −$29.4M | — | — |
What changed
Revenue was $102.7M in Q2 2025, up 152% year over year and up 31% from the previous quarter.
Operating costs exceeded revenue by $22.2M, an operating margin of -21.6%. Total costs grew 68% against revenue growth of 152%. The fastest-growing cost line was SG&A (+75%). The quarter ended with a net loss of $20.3M, narrower than the previous quarter's $25.1M loss.
Operating cash flow was −$29.4M. Non-cash charges added back $400K of depreciation and amortization and $8.2M of share-based compensation. Working capital and other items used $17.7M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$30.4M.
Questions
What was Tarsus Pharmaceuticals' revenue in the second quarter 2025?
Tarsus Pharmaceuticals (TARS) reported revenue of $103M for the second quarter 2025 (Q2 2025), +152% from a year earlier and +31% from the quarter before.
Was Tarsus Pharmaceuticals profitable in the second quarter 2025?
Operating loss was $22.2M (-21.6% of revenue) and net loss $20.3M.