arrow_back Back Filing freshness 10-Q FY 2025 SEC EDGAR

download Export Data

TALPHERA, INC.

TLPH

$1.01 ▼ -0.04 (-3.33%) at close

21 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

auto_awesome

Analytical Summary

TALPHERA, INC. faces fundamental challenges with weakness in Return on Common Equity (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $42.8M

Dividend Yield —

Revenue Growth None

Op. Margin None

ROIC -62.5% ↗

FCF / Share $-0.27 ↗

Trailing P/E —

Price / Book 2.9x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Nov 5, 2026.

21-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$28.00K

— —

Net Income Profit after all expenses

$-14.29M

↓ -9.9% —

Operating Margin Operating profit as % of sales

-483.8%

↓ -162.8% —

FCF / Share Free cash flow per share

$-0.27

↑ +45.4% —

Long-Term Debt Long-term obligations

$5.76M

↑ +15.1% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Returns

Cash Quality ↓

Financial view

Statement lens

Choose the reporting cadence, isolate a period range, or search directly for a metric.

Cadence

Annual Quarterly

Range

→

📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Revenue Growth YoY (%)	—	N/M	-63.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-891%)	-37.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-564%)	-48.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-700%)	136.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1608%)	6.4% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-20%)	-73.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1014%)	-53.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-774%)	-9.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-224%)	269.2% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+3265%)	-82.3% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1129%)	1132.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+14054%)	—	—	—	—	—	—	—	—
EPS Growth YoY (%)	32.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	61.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	—	—	—	—	-15.8% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-72.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	28.6% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-30.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	-9.9% Weak Weak Year-over-year change in net income	29.3% Excellent Excellent Year-over-year change in net income	N/M	N/M	13.1% Fair ↑ Fair Improving Year-over-year change in net income	24.2% Good ↑ Good Improving Year-over-year change in net income	-12.9% Weak ↑ Weak Improving Year-over-year change in net income	8.5% Fair ↑ Fair Improving Year-over-year change in net income	-19.4% Weak ↑ Weak Improving Year-over-year change in net income	-76.9% Weak ↓ Weak Declining Year-over-year change in net income	26.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-42.4% Weak ↓ Weak Declining Year-over-year change in net income	29.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-66.0% Weak ↓ Weak Declining Year-over-year change in net income	-40.1% Weak ↓ Weak Declining Year-over-year change in net income	28.7% Excellent ↑ Excellent Improving Year-over-year change in net income	2.6% Caution ↑ Caution Improving Year-over-year change in net income	-114.6% Weak Weak Year-over-year change in net income	-155.6% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	45.4% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	60.2% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	68.3% Excellent Excellent Year-over-year change in free cash flow	26.8% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	6.1% Fair Fair Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	-74.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	—	-50.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-8.2% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	9.4% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	-12.2% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-49.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-51.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	15.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	-16.2% Weak Weak Compound annual revenue growth over 3 years	100.4% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	-65.1% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	—	-21.3% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-26.0% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-30.5% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-22.4% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-15.2% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-40.8% Weak Weak Compound annual revenue growth over 5 years	27.3% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Operating Margin (%) (%)	—	—	—	—	—	—	—	—	-483.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3326%)	-184.1% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1327%)	-103.6% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-791%)	—	—	—	—	—	—	—	—	—	—
Effective Tax Rate (%) (%)	—	—	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	1.3% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.1% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—
Profit Margin (%) (%)	—	—	—	—	—	—	—	—	—	-248.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2172%)	-126.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1156%)	—	-79.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-762%)	—	—	—	—	—	—	—	—
FCF Margin (%) (%)	—	—	—	—	—	—	—	—	-402.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-190.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—	—	—	—	—	—
FCF / Net Income (x)	0.80x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.98x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.96x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	-0.60x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.91x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	1.00x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	1.03x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.63x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.62x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.77x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—	—	0.76x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.86x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.85x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.97x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Return on Invested Capital (%)	-62.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-150.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-119.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-132.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	116.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	120.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	333.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-219.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	219.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-240.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-29.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-46.0% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—	—	—	—	—	—	—
Return on Capital (%) (%)	-45.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-83.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-82.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-77.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-46.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-61.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-59.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-29.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-51.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-32.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-15.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	-43.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—	—	—	—	—	—
Return on Common Equity (%) (%)	-83.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-659%)	-162.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1184%)	-130.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-970%)	218.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1359%)	97.8% Excellent → Excellent Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+552%)	72.4% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+383%)	128.5% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+757%)	—	141.1% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+841%)	—	-73.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-591%)	-71.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-577%)	-32.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-313%)	-98.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-757%)	-115.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-867%)	21.8% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+45%)	38.0% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+153%)	62.0% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+313%)	73.0% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+387%)	101.4% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+576%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Debt to Equity (x)	—	—	—	0.26x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-56%)	-0.14x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-123%)	-0.39x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-165%)	-0.61x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-201%)	2.82x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+370%)	-0.52x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-187%)	-3.49x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-682%)	0.63x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+5%)	0.39x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-36%)	0.20x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-67%)	0.25x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-58%)	0.87x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+46%)	—	—	—	—	—	—
Interest Coverage (x)	—	—	-126.04x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-31.77x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-15.70x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-12.39x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-21.38x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-16.12x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-11.67x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-11.54x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-6.70x Weak Weak Operating income divided by interest expense Optimal: > 5x	-14.27x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—	—	—
Net Debt (USD)	$-5.89M	$-8.86M	$-5.72M	$-9.51M	$-2.66M	$-5.40M	$10.46M	$-75.98M	$-33.81M	$-61.67M	$-87.00M	$-42.02M	$-74.04M	$-39.40M	$7.48M	$-3.06M	$-7.15M	$-6.07M	—	—	—
Debt / EBITDA (x)	—	—	—	-0.16x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.15x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.56x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.48x Excellent → Excellent Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.34x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.52x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.62x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.16x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.49x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Revenue per Share (USD)	$0.00	$0.00	$0.05	$0.24	$0.47	—	—	—	$0.17	$0.38	$0.43	$0.12	$0.74	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$-0.34	$-0.50	$-1.29	$5.73	$-5.86	—	—	—	$-1.10	$-0.95	$-0.55	$-0.77	$-0.59	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$-0.27	$-0.49	$-1.23	$-3.89	$-5.31	—	—	—	$-0.69	$-0.73	—	—	—	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$0.35	$0.47	$0.83	$2.65	$-5.25	$-0.56	$-0.52	$0.05	$-0.72	$-0.12	$0.73	$1.07	$1.70	$0.91	$0.89	$-97.71	—	—	—	—	—
Tangible Book Value per Share (USD)	$0.17	$-0.05	$0.31	$1.58	$-5.25	$-0.56	$-0.52	$0.05	$-0.72	$-0.12	$0.73	$1.07	$1.70	$0.91	$0.89	$-97.71	—	—	—	—	—
Basic Weighted Avg Shares (shares)	42.41M	25.85M	14.26M	7.39M	5.99M	—	—	—	46.88M	45.31M	44.30M	43.43M	39.75M	—	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Working Capital (USD)	$17.09M	$6.77M	$7.04M	$10.80M	$31.98M	$29.20M	$58.08M	$92.07M	$49.75M	$78.86M	$106.17M	$62.57M	$97.69M	$47.44M	$30.30M	$-7.63M	—	—	—	—	—
LT Debt (USD)	—	—	—	$5.76M	$5.01M	$21.88M	$25.15M	$11.99M	$19.10M	$18.64M	$20.92M	$18.02M	$14.36M	$8.53M	$15.28M	—	—	—	—	—	—
Total Equity (USD)	$17.04M	$8.00M	$14.11M	$21.81M	$-35.89M	$-55.75M	$-41.42M	$4.25M	$-36.51M	$-5.34M	$33.11M	$46.66M	$73.16M	$33.85M	$17.47M	$-65.89M	$-52.99M	$-33.34M	$-13.19M	$-3.71M	$-40.00K

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗	FY 2005 Dec 31, 2005 10-K ↗
Sales/Revenue/Turnover (USD)	$28.00K	$0.00	$651.00K	$1.77M	$2.82M	$5.42M	$2.29M	$2.15M	$8.00M	$17.36M	$19.26M	$5.22M	$29.50M	$2.39M	—	—	—	—	—	—	—
Depreciation Expense (USD)	—	$0.00	$311.00K	$1.65M	$1.97M	$1.85M	$1.67M	$575.00K	$1.74M	$2.05M	$1.98M	$866.00K	$593.00K	$605.00K	$513.00K	$479.00K	$481.00K	—	—	—	—
Net Income, GAAP (USD)	$-14.29M	$-13.00M	$-18.40M	$47.76M	$-35.10M	$-40.38M	$-53.24M	$-47.15M	$-51.51M	$-43.16M	$-24.40M	$-33.35M	$-23.43M	$-33.36M	$-20.10M	$-14.34M	$-20.12M	$-20.66M	$-9.63M	$-3.77M	—
Operating Cash Flow (USD)	$-11.36M	$-12.68M	$-17.49M	$-28.33M	$-30.00M	$-38.51M	$-51.18M	$-29.07M	$-29.77M	$-29.39M	—	—	—	$-24.58M	$-15.29M	$-12.22M	$-19.42M	—	—	—	—

⌨️ Keyboard Shortcuts

/ Search

Esc Clear

A Annual

Q Quarterly

1-7 Jump to category

R Reset

bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 21 years · 71 quarters

TALPHERA, INC.

Analytical Summary

21-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

Compare TLPH with peers