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Vir Biotechnology vs Tarsus Pharmaceuticals: VIR and TARS compared
Vir Biotechnology is the larger company: $239M of revenue in its latest quarter (Q2 2026) against $195M for Tarsus Pharmaceuticals (Q3 2026). Vir Biotechnology is growing faster (197× against +64% a year earlier). Vir Biotechnology is more profitable, with an operating margin of 30.7% against -340.3%.
Where the money goes: VIR and TARS
Vir Biotechnology (VIR) · Q2 2026
Vir Biotechnology, Q2 2026: revenue $239M (197× year over year), operating margin 30.7%, net earnings $80.1M, operating cash flow $123M. The chart follows the revenue to costs, profit and cash.
Tarsus Pharmaceuticals (TARS) · Q3 2026
Tarsus Pharmaceuticals, Q3 2026: revenue $195M (+64% year over year), operating margin -340.3%, net loss $668M, operating cash flow −$6.0M. The chart follows the revenue to costs, profit and cash.
| Vir Biotechnology (VIR) | Tarsus Pharmaceuticals (TARS) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $239M | $195M |
| Revenue growth, Y/Y | 197× | +64% |
| Operating margin | 30.7% | -340.3% |
| Net earnings | $80.1M | −$668M |
| Net margin | 33.5% | -343.5% |
| Operating cash flow | $123M | −$6.0M |
| Free cash flow | $123M | — |
Where the revenue comes from
Vir Biotechnology
- License and collaboration revenue: $239M (100%)
- Grant revenue: $11K (0%)
Questions
Which is bigger, Vir Biotechnology or Tarsus Pharmaceuticals?
Vir Biotechnology is the larger company: $239M of revenue in its latest quarter (Q2 2026) against $195M for Tarsus Pharmaceuticals (Q3 2026).
Is Vir Biotechnology or Tarsus Pharmaceuticals growing faster?
Vir Biotechnology is growing faster (197× against +64% a year earlier).
Which is more profitable, Vir Biotechnology or Tarsus Pharmaceuticals?
Vir Biotechnology is more profitable, with an operating margin of 30.7% against -340.3%.
More: Vir Biotechnology earnings · how Vir Biotechnology makes money · Tarsus Pharmaceuticals earnings · how Tarsus Pharmaceuticals makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 5, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.