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Travere Therapeutics, Inc., a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases in the United States. The company's products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones. Its clinical-stage programs consist of Sparsentan, a novel investigational product candidate, which has been granted Orphan Drug Designation for the treatment of focal segmental glomerulosclerosis in the U.S. and Europe; and Pegtibatinase, a novel investigational human enzyme replacement candidate being evaluated for the treatment of classical homocystinuria. It has a collaboration agreement with PharmaKrysto Limited for the pre-clinical activities associated with the cystinuria program. Travere Therapeutics, Inc. was formerly known as Retrophin, Inc. and changed its name to Travere Therapeutics, Inc. in November 2020. The company is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $491M | $22M | $-26M | $-20M | -22.2% | 110.5% | - |
| 2024 | $233M | $-266M | $-322M | $-339M | -544.3% | 60.5% | - |
| 2023 | $145M | $-326M | $-111M | $-322M | -55.5% | 32.7% | - |
| 2022 | $109M | $-299M | $-278M | $-215M | -649.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 109.46 | 145.24 | 233.18 | 490.73 |
| Cost Of Revenue | 4.42 | 11.45 | 7.74 | 10.34 |
| Gross Profit | 105.04 | 133.79 | 225.43 | 480.39 |
| Operating Expense | 424.85 | 510.53 | 546.82 | 543.21 |
| Operating Income | -319.81 | -376.74 | -321.39 | -62.82 |
| EBITDA | -299.42 | -326.25 | -265.77 | 22.22 |
| EBIT | -320.14 | -364.78 | -309.33 | -38.52 |
| Pretax Income | -331.15 | -376.11 | -320.51 | -49.27 |
| Tax Provision | 0.31 | 0.22 | 0.12 | 0.99 |
| Net Income | -278.48 | -111.40 | -321.55 | -25.55 |
| Net Income Common Stockholders | -278.48 | -111.40 | -321.55 | -25.55 |
| Total Expenses | 429.27 | 521.98 | 554.56 | 553.55 |
| Interest Expense | 11.01 | 11.33 | 11.18 | 10.75 |
| Interest Income | 6.28 | 21.77 | 17.82 | 12.72 |
| Research And Development | 227.33 | 244.99 | 282.70 | 206.01 |
| Selling General And Administration | 197.52 | 265.54 | 264.12 | 337.20 |
| Normalized EBITDA | -291.84 | -314.85 | -263.33 | 22.22 |
| Normalized Income | -325.48 | -367.33 | -318.70 | -50.26 |
| Basic EPS | -4.37 | -1.50 | -4.08 | -0.29 |
| Diluted EPS | -4.37 | -1.50 | -4.08 | -0.29 |
| Tax Effect Of Unusual Items | -1.59 | -2.39 | -0.51 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -7.58 | -11.39 | -2.44 | 0 |
| Total Unusual Items Excluding Goodwill | -7.58 | -11.39 | -2.44 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -331.47 | -376.33 | -320.63 | -50.26 |
| Reconciled Depreciation | 20.72 | 38.53 | 43.55 | 60.74 |
| Reconciled Cost Of Revenue | 4.42 | 11.45 | 7.74 | 10.34 |
| Net Interest Income | -4.74 | 10.43 | 6.63 | 1.97 |
| Net Income From Continuing And Discontinued Operation | -278.48 | -111.40 | -321.55 | -25.55 |
| Total Operating Income As Reported | -319.81 | -388.14 | -323.83 | -62.82 |
| Diluted Average Shares | 63.76 | 74.27 | 78.89 | 89.21 |
| Basic Average Shares | 63.76 | 74.27 | 78.89 | 89.21 |
| Diluted NI Availto Com Stockholders | -278.48 | -111.40 | -321.55 | -25.55 |
| Net Income Including Noncontrolling Interests | -278.48 | -111.40 | -321.55 | -25.55 |
| Net Income Discontinuous Operations | 52.99 | 264.93 | -0.92 | 24.71 |
| Net Income Continuous Operations | -331.47 | -376.33 | -320.63 | -50.26 |
| Other Income Expense | -6.60 | -9.80 | -5.76 | 11.58 |
| Other Non Operating Income Expenses | 0.97 | 1.59 | -3.32 | 11.58 |
| Special Income Charges | -7.58 | -11.39 | -2.44 | 0 |
| Other Special Charges | 7.58 | 0 | 0 | 0 |
| Write Off | 0 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 11.39 | 2.44 | 0 |
| Net Non Operating Interest Income Expense | -4.74 | 10.43 | 6.63 | 1.97 |
| Interest Expense Non Operating | 11.01 | 11.33 | 11.18 | 10.75 |
| Interest Income Non Operating | 6.28 | 21.77 | 17.82 | 12.72 |
| General And Administrative Expense | 197.52 | 265.54 | 264.12 | 337.20 |
| Other Gand A | 197.52 | 265.54 | 264.12 | 337.20 |
| Operating Revenue | 109.46 | 145.24 | 233.18 | 490.73 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Travere Therapeutics, Inc.this co. | TVTX | $3.7B | - | 31.75 | -22.2% | -1780.31 |
| Crinetics Pharmaceuticals, Inc. | CRNX | $4.0B | - | 3.70 | -46.9% | -5.94 |
| iRhythm Holdings, Inc. | IRTC | $4.0B | - | 25.53 | -29.2% | -132.48 |
| Twist Bioscience Corporation | TWST | $3.5B | - | 7.62 | -16.4% | -30.08 |
| Oruka Therapeutics, Inc. | ORKA | $3.4B |
| - |
| 7.07 |
| -22.5% |
| -24.94 |
| Liquidia Corporation | LQDA | $3.4B | - | 74.37 | -154.0% | -66.91 |
| Brookdale Senior Living Inc. | BKD | $3.4B | - | -74.95 | 605.6% | 18.66 |
| Edgewise Therapeutics, Inc. | EWTX | $3.3B | - | 6.20 | -32.1% | -14.47 |
| LivaNova PLC | LIVN | $3.2B | - | 2.68 | -20.2% | 11.72 |
| Peer Median | - | - | 6.63 | -25.8% | -19.71 | |