Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Tango Therapeutics, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
7.66
37
24.9
36.5
42.1
62.4
Research and development
50
77.6
106
115
144
132
General and administrative
9.87
17.6
30
35.5
43.7
41.5
Operating expenses
59.9
95.2
136
151
188
174
Operating income
-52.2
-58.2
-111
-114
-146
-111
Other non-operating income
0.23
0.25
2.95
12.6
15.5
9.7
Pre-tax income
-52
-57.9
-108
-102
-130
-102
Income tax
0
0.29
0.05
0.13
0.21
0
Net income
-52
-58.2
-108
-102
-130
-102
EBITDA
-51.5
-57.3
-109
-112
-143
-109
EPS, basic
-1.63
-0.94
-1.23
-1.08
-1.19
-0.87
EPS, diluted
-1.63
-0.94
-1.23
-1.08
-1.19
-0.87
Shares, basic (weighted)
31.9
62.1
87.8
94.6
109
116
Shares, diluted (weighted)
31.9
62.1
87.8
94.6
109
116
Balance sheet
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
28.4
143
60
66.4
69.5
112
Short-term investments
162
343
306
271
188
231
Receivables
2
2
2
Other current assets
1.31
4.52
6.57
8.8
8.43
10.2
Total current assets
194
492
375
347
266
354
Property, plant and equipment
3.82
4.83
10.9
9.91
8.1
6.87
Lease right-of-use assets
7.48
1.25
46.9
43.5
39.5
35.6
Other non-current assets
0.04
0.02
0.01
0.05
0
0.3
Total assets
207
500
436
403
316
399
Accounts payable
1.84
3.23
4.45
2.79
1.6
1.18
Accrued liabilities
0.07
3.69
5.74
7.91
8.95
9.05
Deferred revenue
32
26
31.8
25.7
17.6
0
Total current liabilities
40.9
40.7
55.5
45.9
38.2
21.7
Lease liabilities
6.93
39.4
36.8
34
30.8
Other non-current liabilities
0.01
Total liabilities
169
155
187
149
117
52.5
Paid-in capital
142
507
523
624
701
949
Retained earnings
-103
-161
-270
-371
-502
-603
Other comprehensive income
0.02
-0.77
-3.71
0.19
0.34
0.22
Shareholders' equity
38.6
345
249
253
200
346
Total equity
38.6
345
249
253
200
346
Total liabilities and equity
207
500
436
403
316
399
Shares outstanding
40.4
87.6
88.2
102
108
136
Cash flow statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-52
-58.2
-108
-102
-130
-102
Depreciation and amortization
0.72
0.9
1.61
2.42
2.5
2.28
Stock-based compensation
1.76
7.83
14.2
19.1
28.9
26.4
Change in receivables
-2
2
Cash from operations
70.1
-59.5
-109
-118
-132
-139
Capital expenditures
-1.11
-1.84
-7.69
-1.53
-0.75
-1.05
Purchases of investments
-208
-372
-209
-311
-241
-264
Sales and maturities of investments
63.2
191
243
354
328
225
Cash from investing
-145
-183
26.4
41.4
86.1
-40.9
Cash from financing
80.9
357
1.62
82.4
47.7
223
Net change in cash
5.49
114
-81.1
5.85
2.29
42.7
Free cash flow
69
-61.4
-117
-120
-132
-140
Income taxes paid
0.01
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $24.92 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-253.4%
Operating income / revenue.
EBITDA margin
-249.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-230.0%
Pre-tax income / revenue.
Net margin
-229.9%
Net income / revenue.
FCF margin
-268.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-267.4%
Cash from operations / revenue.
Return on equity (ROE)
-12.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-11.5%
Net income / average total assets.
Return on invested capital (ROIC)
-15.9%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
248.4%
Research and development expense / revenue.
Stock-based pay / revenue
74.9%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.7%
Capital expenditures / revenue.
D&A / revenue
3.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
48.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
35.9%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
52.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
73.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
11.5%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
55.1%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
26.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-3.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
14.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
6.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
9.8%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
29.5%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
50.8x
Current assets / current liabilities.
Quick ratio
50.0x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
50.0x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.36
Revenue / diluted weighted shares.
FCF per share
-$0.96
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.96
Cash from operations / diluted weighted shares.
Book value per share
$6.08
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
78.1x
Market cap / revenue.
P/B
4.10x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.10x
Market cap / tangible book value, when positive.
EV/Sales
59.2x
Enterprise value / revenue.
FCF yield
-3.4%
Free cash flow / market cap.
Earnings yield
-2.9%
Net income / market cap (the inverse of P/E).
What was Tango Therapeutics, Inc.'s revenue in fiscal 2025?
Tango Therapeutics, Inc. reported revenue of $62.4M for fiscal 2025, 48.3% higher than the year before.
Was Tango Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $101.6M.
How much free cash flow did Tango Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $138.9M minus capital expenditures of $1.0M left free cash flow of -$139.9M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.