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Pulmatrix vs Talphera: PULM and TLPH compared
Pulmatrix is the larger company: $3K of revenue in its latest quarter (Q4 2024) against $1K for Talphera (Q3 2025).
Where the money goes: PULM and TLPH
Pulmatrix (PULM) · Q4 2024
Pulmatrix, Q4 2024: revenue $3K (-100% year over year), net loss $2.0M, operating cash flow −$1.3M. The chart follows the revenue to costs, profit and cash.
Talphera (TLPH) · Q3 2025
Talphera, Q3 2025: revenue $1K, net loss $4.4M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Pulmatrix (PULM) | Talphera (TLPH) | |
|---|---|---|
| Latest quarter | Q4 2024 | Q3 2025 |
| Revenue | $3K | $1K |
| Revenue growth, Y/Y | -100% | — |
| Operating margin | n/m | n/m |
| Net earnings | −$2.0M | −$4.4M |
| Operating cash flow | −$1.3M | −$2.5M |
Questions
Which is bigger, Pulmatrix or Talphera?
Pulmatrix is the larger company: $3K of revenue in its latest quarter (Q4 2024) against $1K for Talphera (Q3 2025).
More: Pulmatrix earnings · how Pulmatrix makes money · Talphera earnings · how Talphera makes money
From the companies' latest 10-Q, 10-K or earnings release (10-K filed Mar 21, 2025; 10-Q filed Nov 12, 2025). Fiscal quarters can end on different dates. Not investment advice.