TSHA Taysha Gene Therapies, Inc.

Overview and Growth

In fiscal 2025, Taysha Gene Therapies, Inc. recorded $9.77M of revenue, net loss of $109.00M, and an operating cash outflow of $93.09M. Revenue of $9.77M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 17.3% above fiscal 2024 revenue of $8.33M, marking a year-over-year increase. The company reported diluted EPS of -$0.34, adding a shareholder-level measure to the absolute income figures considered below. A diluted share base of 319.71M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. The diluted share count was 27.8% higher than fiscal 2024, when diluted shares averaged 250.13M, adding context to the EPS comparison. At period end, total assets were $343.32M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.03x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The company recorded an operating loss of $110.50M after the reported operating expense base. The bottom-line result was a net loss of $109.00M after operating, financing, tax, and other recognized items. The company reported negative EBITDA of $109.35M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. Income tax expense totaled $0.00, providing the reported tax component that separates pretax and after-tax earnings. The net loss equaled 44.1% of period-end equity, showing the deficit relative to book capital. The net loss equaled 31.7% of period-end assets, showing the deficit relative to the asset base. Compared with a $89.30M net loss in fiscal 2024, the current loss increased to $109.00M.

Liquidity and Capital Structure

The company held $343.32M of assets against $96.38M of liabilities and $246.94M of equity, revealing how the asset base was financed. The near-term balance sheet paired $324.65M of current assets with $26.55M of current liabilities at the reporting date. Current assets covered current liabilities by 12.23x, leaving a positive buffer for near-term obligations. The company held $319.77M in cash and equivalents, a narrower liquidity measure than total current assets. Total debt was $50.11M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.2x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 14.6% of total assets, placing borrowing in the context of the company’s full resource base. Equity equaled 71.9% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 28.1% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 93.1%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 114.1% higher than fiscal 2024 assets of $160.36M, measuring the company’s own balance-sheet change. Book equity was 245.2% higher than fiscal 2024 equity of $71.53M, showing how shareholder capital changed year over year. Compared with $139.04M in fiscal 2024, the current cash balance moved 130.0% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $93.09M, showing that operations absorbed cash during the period. Capital spending of $738.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. The company recorded a $93.83M cash deficit after capital spending for the period. Free-cash-flow margin was -960.1%, reflecting a cash deficit equal to 960.1% of revenue after capital spending. Relative to total assets, the post-investment cash deficit measured 27.3%. Compared with a $81.22M operating cash outflow in fiscal 2024, the current outflow increased to $93.09M.

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