TVTX Travere Therapeutics, Inc.

Overview and Growth

Fiscal 2025 results for Travere Therapeutics, Inc. combined $490.73M of revenue with net loss of $25.55M and an operating cash inflow of $37.78M. At $490.73M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 110.5% from $233.18M in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were -$0.29, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted shares averaged 89.21M; this is the reported share base over which the company’s diluted per-share earnings were spread. Diluted shares moved 13.1% from 78.89M in fiscal 2024, leaving the current share base higher year over year. The company employed $605.19M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.81x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $480.39M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 97.9% of revenue, showing how much of the top line remained after direct costs. The company recorded an operating loss of $62.82M after the reported operating expense base. An operating margin of -12.8% reflected costs exceeding revenue-level gross profit by 12.8% of sales. The company ended the period with a net loss of $25.55M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 5.2% after all recognized items. Negative EBITDA totaled $2.08M, confirming that the earnings deficit remained before depreciation and amortization. The company reported a pretax loss of $49.27M, before the effect of income taxes. The pretax loss equaled 10.0% of revenue, measuring the pre-tax deficit against sales. Income tax expense totaled $988.00K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 22.2%, placing the bottom-line deficit against shareholder capital. The net loss equaled 4.2% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit decreased from $321.55M in fiscal 2024 to $25.55M.

Liquidity and Capital Structure

At period end, the $605.19M asset base was financed through $490.36M of liabilities and $114.83M of equity. The near-term balance sheet paired $437.56M of current assets with $159.90M of current liabilities at the reporting date. The current ratio was 2.74x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $93.03M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 58.2% of current liabilities, showing how much near-term coverage came from cash alone. Equity equaled 19.0% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 81.0%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 15.4%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 1.9% higher than fiscal 2024 assets of $594.12M, measuring the company’s own balance-sheet change. Reported equity changed 94.4% from $59.08M in fiscal 2024, placing the current capital base higher year over year. Cash and equivalents were 58.9% higher than fiscal 2024 cash of $58.53M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported $37.78M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow moved from a $237.47M outflow in fiscal 2024 to a $37.78M inflow.

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