TNYA Tenaya Therapeutics, Inc.

Overview and Growth

Fiscal 2025 results for Tenaya Therapeutics, Inc. included net loss of $90.60M. Diluted earnings per share were -$0.59, translating the period’s attributable earnings into the amount reported for each diluted share. The diluted weighted-average share count was 152.97M, linking total earnings with the per-share result received by shareholders. The diluted share count was 80.3% higher than fiscal 2024, when diluted shares averaged 84.82M, adding context to the EPS comparison. At period end, total assets were $146.92M, framing the scale of the company’s operating and financing commitments.

Profitability

The reported operating result was an operating loss of $93.33M, reflecting costs that exceeded gross profit. The company ended the period with a net loss of $90.60M, extending the operating result through all remaining items. EBITDA was negative $84.93M, showing a deficit before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $90.60M, before the effect of income taxes. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. The loss-to-equity relationship was 73.5%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 61.7%. The bottom-line deficit decreased from $111.13M in fiscal 2024 to $90.60M.

Liquidity and Capital Structure

Total assets were $146.92M, supported by $23.66M of liabilities and $123.27M of shareholder equity. The near-term balance sheet paired $105.59M of current assets with $15.44M of current liabilities at the reporting date. At 6.84x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $100.55M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 651.4% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 83.9%, placing book capital against the total resource base. Liabilities represented 16.1% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 68.4% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 22.5% higher than fiscal 2024 assets of $119.94M, measuring the company’s own balance-sheet change. Book equity was 32.8% higher than fiscal 2024 equity of $92.85M, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Operating activities used $68.26M of cash, resulting in an operating cash outflow for the year. Capital spending of $618.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Negative free cash flow was $68.88M, leaving a cash deficit after capital spending and reducing financial flexibility. The free-cash-flow deficit equaled 46.9% of total assets, placing the cash shortfall against the company’s resource base. The operating cash outflow narrowed to $68.26M from $90.50M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.