Filing Flows › TScan Therapeutics (TCRX) › Q1 2025
TScan Therapeutics (TCRX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
TScan Therapeutics (TCRX) reported revenue of $2.2M for the first quarter 2025 (Q1 2025), +284% from a year earlier and +226% from the quarter before.
TScan Therapeutics, Q1 2025: revenue $2.2M (+284% year over year), net loss $34.1M, operating cash flow −$37.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2M | +226% | +284% |
| Operating profit | −$36.2M | — | — |
| Net earnings | −$34.1M | — | — |
| Operating cash flow | −$37.6M | — | — |
What changed
Revenue was $2.2M in Q1 2025, up 284% year over year and up 226% from the previous quarter.
Operating costs exceeded revenue by $36.2M, an operating margin of -1669.7%. Total costs grew 20% against revenue growth of 284%. The fastest-growing cost line was General & admin (+22%). The quarter ended with a net loss of $34.1M, narrower than the previous quarter's $35.8M loss.
Operating cash flow was −$37.6M. Non-cash charges added back $678K of depreciation and $3.4M of share-based compensation. Working capital and other items used $7.6M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$39.1M.
Questions
What was TScan Therapeutics' revenue in the first quarter 2025?
TScan Therapeutics (TCRX) reported revenue of $2.2M for the first quarter 2025 (Q1 2025), +284% from a year earlier and +226% from the quarter before.
Source: TScan Therapeutics 10-Q on SEC EDGAR.