Filing Flows › Tonix Pharmaceuticals Holding (TNXP) › Q4 2025
Tonix Pharmaceuticals Holding (TNXP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
Tonix Pharmaceuticals Holding (TNXP) reported revenue of $5.4M for the fourth quarter 2025 (Q4 2025), +109% from a year earlier and +64% from the quarter before. Operating margin was -895.8%, net loss $46.9M (870.3% of revenue).
Tonix Pharmaceuticals Holding, Q4 2025: revenue $5.4M (+109% year over year), operating margin -895.8%, net loss $46.9M, operating cash flow −$39.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.4M | +64% | +109% |
| Operating profit | −$48.3M | — | — |
| Net earnings | −$46.9M | — | — |
| Operating cash flow | −$39.6M | — | — |
What changed
Revenue was $5.4M in Q4 2025, up 109% year over year and up 64% from the previous quarter.
Operating costs exceeded revenue by $48.3M, an operating margin of -895.8%. Total costs grew 114% against revenue growth of 109%. The fastest-growing cost line was SG&A (+129%). The quarter ended with a net loss of $46.9M, wider than the previous quarter's $32.0M loss.
Operating cash flow was −$39.6M. Non-cash charges added back $488K of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $5.0M. Capital expenditures of $1.9M exceeded it, leaving free cash flow of −$41.5M.
Questions
What was Tonix Pharmaceuticals Holding's revenue in the fourth quarter 2025?
Tonix Pharmaceuticals Holding (TNXP) reported revenue of $5.4M for the fourth quarter 2025 (Q4 2025), +109% from a year earlier and +64% from the quarter before.
Was Tonix Pharmaceuticals Holding profitable in the fourth quarter 2025?
Operating loss was $48.3M (-895.8% of revenue) and net loss $46.9M.