TScan Therapeutics (TCRX) Financial Statements & Analysis

TScan Therapeutics (TCRX) Income Statement

TScan Therapeutics reported revenue of $10.32M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 266.7% from $2.82M a year earlier. TScan Therapeutics posted a net loss of $129.77M, compared with a net loss of $127.50M a year earlier. Gross margin was 100.0% and operating margin -1315.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $1.05M, down 65.8% from the same quarter a year earlier.

TScan Therapeutics Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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TScan Therapeutics, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Revenue & Gross Profit
Revenue	10.33	2.82	21.05	13.54	10.14	1.09	0.00
Cost of Revenue	112.55	107.35	0.00	0.00	44.95	20.58	9.44
Gross Profit	10.33	2.82	21.05	13.54	10.14	-19.49	-9.44
Operating Expenses
Research & Development	228.30	107.35	88.15	59.82	44.95	20.58	9.44
Selling, General & Administrative	31.59	29.56	25.49	20.35	13.83	6.74	4.77
Operating Expenses	292.28	137.64	114.51	80.17	58.78	6.74	4.77
Operating Income	-135.81	-134.82	-93.46	-66.64	-48.64	-26.23	-14.21
Other Income/Expense
Interest Income	8.82	12.07	8.00	1.59	0.02	0.11	0.55
Interest Expense	2.77	3.65	3.76	1.18	0.00	0.00	0.00
Other Income/Expense	6.05	-1.09	4.24	0.42	0.02	0.11	0.55
Income
Income Before Tax	-129.77	-127.50	-89.22	-66.22	-48.63	-26.13	-13.66
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	-129.77	-127.50	-89.22	-66.22	-48.63	-26.13	-13.66
Net Income - Continuous Operations	-129.77	-127.50	-89.22	-66.22	-48.63	-26.13	-13.66
Net Income - Discontinued Operations	-	-	-	-	-	-	-
EBITDA	-130.95	-119.74	-80.10	-59.91	-45.31	-25.00	-13.69
EBIT	-133.81	-123.85	-93.46	-65.05	-48.64	-26.23	-
Depreciation & Amortization	0.66	0.73	5.36	5.14	3.33	1.23	0.52
Earnings Per Share
Basic EPS	-2.00	-1.00	-1.00	-3.00	-4.00	-1.00	-1.00
Diluted EPS	-1.00	-1.00	-1.00	-3.00	-4.00	-1.00	-1.00
Basic Shares Outstanding	56.90	111.99	65.60	24.05	11.66	24.94	24.94
Diluted Shares Outstanding	56.90	111.99	65.60	24.05	11.66	24.94	24.94

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About TScan Therapeutics Financial Statements

What was TScan Therapeutics's revenue in fiscal 2025?

TScan Therapeutics reported revenue of $10.32M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 266.7% from $2.82M a year earlier.

Is TScan Therapeutics profitable?

No. TScan Therapeutics reported a net loss of $129.77M in fiscal 2025. In fiscal 2024 it lost $127.50M.

What is TScan Therapeutics's operating margin?

TScan Therapeutics's operating income was −$135.81M on revenue of $10.32M in fiscal 2025, an operating margin of -1315.4%, compared with -4787.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition