Sunday 18 October 2026 Export TNXP’s income statement to Excel — free account

Tonix Pharmaceuticals Holding Corp.

Tonix Pharmaceuticals Holding Corp.’s revenue for fiscal 2025 (year ended December 2025) was $13.1 million, up 29.8% from fiscal 2024. In the quarter to June 2026, revenue grew 577.9%, EPS grew 36.8% and free cash flow fell 178.8%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

6.04 0.38 −5.92%

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Market cap: $110.1M
P/E: 0.0×
Fwd P/E: −1.0×
Dividend yield: —
F-score: 5/9
Altman Z: −2.42
Beneish M: −2.38
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.46

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	2	—	—	3	—	2	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 110.11

Revenue 29.10

Net Income (159.67)

Free Cash Flow (158.11)

Net Debt (176.23)

Current Ratio 6.61

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (1.03)

P/S ratio 3.45

P/B ratio 0.45

Past 5Y EPS Growth —

This Y EPS Growth 32.74%

Next Y EPS Growth 30.23%

Next Y revenue growth 319.62%

Next 5Y EPS Growth 35.70%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/B against its own 10 years 29.16%

10-year low 10-year high

EV/FCF against its own 10 years 47.37%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	25	99	208	176
Receivables	—	4	6	12
Inventory	14	8	6	5
Other	—	—	—	—
	48	119	229	203

	2023	2024	2025	Q'26
Payables	4	5	8	9
ST’ Debt	2	3	—	—
Other	—	—	—	—
	19	18	31	31

Compound Annual Growth %

	10y	5y	3y
Sales	—	—	—
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	19.80%	22.84%	5.77%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	7	14	—	—	—
’25	2	2	3	5	13
’24	2	2	3	3	10

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(42)	(42)	—	—	—
’25	(17)	(15)	(29)	(40)	(100)
’24	(18)	(10)	(19)	(15)	(61)
’23	(33)	(23)	(23)	(22)	(102)
’22	(31)	(21)	(24)	(22)	(98)
’21	(21)	(19)	(13)	(22)	(76)
’20	(9)	(10)	(15)	(14)	(49)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(44)	(43)	—	—	—
’25	(17)	(15)	(30)	(42)	(103)
’24	(18)	(10)	(19)	(15)	(61)
’23	(37)	(25)	(24)	(23)	(109)
’22	(51)	(36)	(32)	(27)	(146)
’21	(22)	(21)	(21)	(48)	(111)
’20	(9)	(10)	(19)	(18)	(57)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(2.93)	(2.44)	—	—	—
’25	(2.84)	(3.86)	(3.59)	(4.29)	(14.57)
’24	(575.08)	(1.93k)	(23.00)	(9.77)	(176.60)
’23	(10.38k)	(4.92k)	(3.86k)	(2.75k)	(14.72k)
’22	(31.90k)	(24.36k)	(13.78k)	(11.18k)	(65.30k)
’21	(0.07)	(44.66k)	(31.90k)	(44.66k)	(165.87k)
’20	(236.04k)	(0.23)	(0.09)	(63.80k)	(0.53)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	224,000,000.00	182,400,000.00	10,880,000.00	550,400.00	249,600.00	230,400.00	5,800.00	1,152.00	12.00	6.76	Analyst estimates 2026–2028 Powerpack
	High	5,088,000,000.00	601,600,000.00	327,040,000.00	26,880,000.00	1,574,400.00	1,356,800.00	275,200.00	31,400.00	1,408.00	69.97
People
People	Employees	18	14	12	16	26	73	117	76	57	142
	Revenue/emp, $m	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.10	0.18	0.09
Income, $m
Income, $m	Revenue	—	—	—	—	—	—	—	8	10	13
	Gross margin, %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	38.97	23.07	49.34
	EBT	(39)	(21)	(26)	(29)	(50)	(92)	(110)	(117)	(130)	(124)
	EBT margin, %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	(1,501.78)	(1,288.25)	(946.22)
	Net income	(39)	(21)	(26)	(29)	(50)	(92)	(110)	(117)	(130)	(124)
	Depreciation	0	0	0	0	0	0	1	4	4	2
Per share, $
Per share, $	Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	983.29	13.71	1.54
	Earnings	(15.41)	(31.67)	(230.88)	(17.79)	(0.53)	(165,868.80)	(65,295.53)	(14,720.25)	(176.60)	(14.57)
	Cash flow	(14.80)	(28.68)	(212.13)	(16.58)	(0.51)	(125,928.33)	(54,473.89)	(12,911.77)	(82.74)	(11.73)
	Capex	(0.03)	(0.01)	(0.05)	(0.01)	(0.09)	(58,845.00)	(26,748.33)	(872.91)	(0.16)	(0.40)
	Free cash flow	(14.83)	(28.69)	(212.19)	(16.59)	(0.60)	(184,773.33)	(81,222.22)	(13,784.68)	(82.91)	(12.13)
	Book value	10.06	36.91	209.42	5.85	0.93	364,528.33	115,101.11	13,357.59	189.54	28.80
	Shares, m	3	1	0	2	95	0	0	0	1	9
Valuation, ×
Valuation, ×	P/E	—	—	—	—	—	—	—	0.00	0.00	0.00
	P/S	—	—	—	—	—	—	—	0.00	2.41	10.14
	P/B	—	—	—	—	—	—	—	0.10	0.17	0.54
	EV/Sales	—	—	—	—	—	—	—	0.00	(6.64)	(5.13)
	EV/FCF	—	—	—	—	—	—	—	0.05	1.10	0.65
Cash, $m
Cash, $m	Operating cash flow	(37)	(19)	(24)	(27)	(49)	(76)	(98)	(102)	(61)	(100)
	Capex	0	0	0	0	(9)	(35)	(48)	(7)	0	(3)
	Free cash flow	(37)	(19)	(24)	(27)	(57)	(111)	(146)	(109)	(61)	(103)
Balance, $m
Balance, $m	Working capital	25	24	23	9	78	167	113	29	101	198
	Total debt	—	—	—	0	1	1	1	9	7	—
	Net debt	(26)	(25)	(25)	(11)	(76)	(178)	(119)	(16)	(91)	(208)
	Shareholders’ equity	25	25	24	9	88	219	207	106	140	245
Returns, %
Returns, %	ROA	(104.23)	(77.85)	(110.62)	(152.12)	(92.56)	(54.43)	(50.10)	(61.38)	(81.95)	(56.37)
	ROIC	0.00	0.00	0.00	0.00	(265.49)	(140.67)	(79.87)	(82.68)	(177.00)	(209.43)
	ROE	(118.38)	(84.53)	(121.60)	(187.97)	(107.50)	(60.25)	(54.88)	(74.61)	(106.12)	(64.48)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ENGN enGene Therapeutics Inc	$114.6M	— (loss-making)	—	—	n/m	+28.07% (above 0%: growing)	—	0.00%	Compare
SEER Seer, Inc.	$113.0M	— (loss-making)	— (loss-making)	−23.43% (below 0%: shrinking)	n/m	+36.73% (above 0%: growing)	48.55%	(542.91%)	Compare
FHTX Foghorn Therapeutics Inc.	$112.2M	— (loss-making)	— (loss-making)	+112.68% (above 0%: growing)	n/m	+14.88% (above 0%: growing)	100.00%	(54.78%)	Compare
GNLX Genelux Corporation	$112.2M	— (loss-making)	— (loss-making)	—	n/m	−11.18% (below 0%: shrinking)	100.00%	0.00%	Compare
LENZ LENZ Therapeutics, Inc.	$112.2M	— (loss-making)	— (loss-making)	+9.72% (above 0%: growing)	n/m	−229.66% (below 0%: shrinking)	94.90%	(622.89%)	Compare
TNXP Tonix Pharmaceuticals Holding Corp.	$110.1M	— (loss-making)	— (loss-making)	+577.88% (above 0%: growing)	n/m	−178.84% (below 0%: shrinking)	94.81%	(314.05%)
VTVT vTv Therapeutics Inc.	$109.1M	— (loss-making)	— (loss-making)	+409,222.22% (above 0%: growing)	n/m	−124.59% (below 0%: shrinking)	100.00%	0.00%	Compare
CYTT Cyteir Therapeutics, Inc.	$108.7M	— (loss-making)	—	—	n/m	+63.78% (above 0%: growing)	0.00%	0.00%	Compare
INO Inovio Pharmaceuticals, Inc.	$107.5M	— (loss-making)	— (loss-making)	−83.19% (below 0%: shrinking)	n/m	+13.41% (above 0%: growing)	100.00%	0.00%	Compare
Median of peers	$112.2M	—	—	+9.72%	—	+14.15%	100.00%	0.00%

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Tonix Pharmaceuticals Holding Corp. (TNXP) key facts

Strength: Tonix Pharmaceuticals Holding Corp.’s revenue for fiscal 2025 (year ended December 2025) was $13.1 million, up 29.8% from fiscal 2024.
Tonix Pharmaceuticals Holding Corp. (TNXP) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, TNXP traded at $6.04, a market capitalization of $110.1 million.
Return on equity was −64.5% and debt-to-equity 0.00.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −2.42 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.