$4.63

-0.11 (-2.32%)

Weekly Expected Move ±5.9%

$4 $4 $5 $5 $5

NASDAQ · Healthcare · Biotechnology · Tech Score Strong Sell · Power 29 · $1.5B mcap · 265M float · 1.23% daily turnover · Short 71% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

33.4 / 100

NoneWeakNarrowWide

Primary source: Network Effects · ROIC: 961.0%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. TSHA has No discernible competitive edge (33.4/100). The business operates without significant structural advantages. The primary source of advantage is Network Effects. ROIC of 961.0% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$13

Avg Target

$13

High

Based on 9 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 15Hold: 3Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$13.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-07-21	Goldman Sachs	—	$11	$13	+2	+133.0%	$5.58
2026-06-30	Robert W. Baird	—	$12	$15	+3	+122.9%	$6.73
2026-06-23	Pivotal Research	Keith Tapper	Initiated	$14	—	+108.0%	$6.73
2026-01-06	Raymond James	Chris Raymond	$9	$13	+4	+146.9%	$5.26
2026-01-05	Wells Fargo	Zachary Fadem	Initiated	$11	—	+109.5%	$5.25
2025-12-04	Goldman Sachs	—	Initiated	$11	—	+145.0%	$4.49
2025-12-04	UBS	—	Initiated	$11	—	+145.0%	$4.49
2025-11-14	Cantor Fitzgerald	Kristen Kluska	$44	$13	-31	+220.6%	$4.05
2025-11-05	JMP Securities	—	Initiated	$8	—	+87.4%	$4.27
2025-10-02	Robert W. Baird	Jack Allen	Initiated	$12	—	+151.8%	$4.76
2025-10-02	Needham	Gil Blum	Initiated	$10	—	+109.9%	$4.76
2024-08-14	BMO Capital	Keith Tapper	Initiated	$5	—	+116.5%	$2.31
2024-07-01	Piper Sandler	Christopher Raymond	Initiated	$7	—	+212.5%	$2.24
2024-05-13	Jefferies	Eun Yang	$2	$8	+6	+233.3%	$2.40
2024-04-08	Raymond James	Christopher Raymond	Initiated	$9	—	+235.8%	$2.68
2023-02-01	Jefferies	—	Initiated	$2	—	-8.5%	$1.64
2021-10-18	Morgan Stanley	Matthew Harrison	Initiated	$39	—	+121.2%	$17.63
2021-05-18	Cantor Fitzgerald	Kristen Kluska	Initiated	$44	—	+102.0%	$21.78

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C-

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. TSHA receives an overall rating of C-. Areas of concern: ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-10-01	C	C-
2026-05-15	C-	C
2026-04-01	C	C-
2026-03-19	C-	C

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ — Grade A+

Profitability

—

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

15.82

Safe Zone

Piotroski F-Score

3/9

✗ ✗ ✗ ✓ ✓ ✓ ✗ ✗ ✗

Beneish M-Score

—

Ohlson O-Score

-5.63

Bankruptcy prob: 0.4%

Low Risk

Credit Rating

BBB+

Score: 64.7/100

Trend: Improving

Earnings Quality

—

OCF/NI: 0.88x

Accruals: -4.3%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. TSHA scores 15.82, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. TSHA scores 3/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. TSHA's implied 0.4% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TSHA receives an estimated rating of BBB+ (score: 64.7/100), with a improving trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-10.96x

PEG

0.66x

P/S

270.00x

P/B

4.41x

P/FCF

-18.54x

P/OCF

—

EV/EBITDA

-14.21x

EV/Revenue

385.29x

EV/EBIT

-14.08x

EV/FCF

-15.59x

Earnings Yield

-5.95%

FCF Yield

-5.39%

Shareholder Yield

0.01%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. TSHA currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.000

NI / EBT

Interest Burden

0.997

EBT / EBIT

EBIT Margin

-27.357

EBIT / Rev

Asset Turnover

0.014

Rev / Assets

Equity Multiplier

1.264

Assets / Equity

ROE

-47.1%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. TSHA's ROE of -47.1% is driven by Asset Turnover (0.014), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.00 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1513 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$4.63

Median 1Y

$2.01

5th Pctile

$0.34

95th Pctile

$11.99

Ann. Volatility

105.8%

Analyst Target

$13.00

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Sean Nolan Chief Executive Officer and Director	$645,840	$1,651,125	$4,099,065
Kamran Alam Financial ancial Officer	$473,331	$797,350	$2,146,964
Sukumar Nagendran, M.D. President and Head of Research and Development and Director	$608,166	$600,325	$2,092,890

CEO Pay Ratio

12:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $4,099,065

Avg Employee Cost (SGA/emp): $330,535

Employees: 99

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

+35.6% YoY

Revenue / Employee

$98,717

Rev: $9,773,000

Profit / Employee

$-1,100,960

NI: $-108,995,000

SGA / Employee

$330,535

Avg labor cost proxy

R&D / Employee

$872,758

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-69.8%	-1.0%	-1.4%	-1.7%	-2.1%	-3.5%	-7.5%	56.5%	11.3%	-2.9%	-6.1%	-3.2%	-1.1%	-1.2%	-1.6%	-51.9%	-64.9%	-68.5%	-97.3%	-47.1%	-47.05%
ROA	-54.8%	-73.8%	-94.3%	-96.8%	-91.5%	-98.0%	-1.0%	-1.1%	-1.4%	-74.6%	-92.7%	-81.1%	-12.1%	-53.6%	-59.6%	-34.7%	-40.2%	-43.3%	-59.2%	-37.2%	-37.23%
ROIC	-18.6%	-14.6%	-8.7%	-4.9%	-3.1%	3.7%	4.0%	2.9%	38.1%	7.2%	6.7%	10.0%	10.9%	16.7%	388.6%	16.7%	8.7%	1.6%	2.2%	9.6%	9.61%
ROCE	-71.6%	-1.1%	-1.6%	-1.8%	-2.0%	-2.6%	-2.8%	-3.9%	-13.7%	-78.4%	-100.0%	-67.4%	-14.6%	-66.5%	-74.8%	-30.1%	-34.7%	-34.5%	-46.5%	-33.8%	-33.76%
Gross Margin	—	—	—	—	—	32.9%	86.6%	70.6%	93.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	—	94.5%	—	—	—
Operating Margin	—	—	—	—	—	-7.5%	-3.5%	-9.8%	-3.3%	-4.5%	-7.1%	-19.2%	-14.5%	-9.9%	-9.3%	-13.5%	—	-5.2%	—	—	—
Net Margin	—	—	—	—	—	-22.3%	-3.7%	-10.3%	-24.7%	13.2%	-7.1%	-18.8%	-14.3%	-9.3%	-9.4%	-13.5%	—	-5.1%	—	—	—
EBITDA Margin	—	—	—	—	—	-21.3%	-3.3%	-9.4%	-24.3%	13.5%	-7.0%	-18.5%	-14.1%	-9.1%	-9.2%	-13.4%	—	-5.1%	—	—	—
FCF Margin	—	—	—	—	—	-45.4%	-11.8%	-6.5%	-3.6%	-5.2%	-5.4%	-6.2%	-8.0%	-9.8%	-11.6%	-10.2%	-13.5%	-9.6%	-15.4%	-24.7%	-24.72%
OCF Margin	—	—	—	—	—	-35.5%	-9.4%	-5.6%	-3.0%	-4.7%	-5.1%	-5.9%	-8.0%	-9.7%	-11.6%	-10.1%	-13.4%	-9.5%	-15.0%	-24.1%	-24.10%
ROE 3Y Avg	snapshot only																				-60.31%
ROA 3Y Avg	snapshot only																				-38.89%
ROIC Economic	snapshot only																				-27.33%
Cash ROA	snapshot only																				-28.10%
NOPAT Margin	snapshot only																				-22.06%
Pretax Margin	snapshot only																				-27.28%
R&D / Revenue	snapshot only																				22.34%
SGA / Revenue	snapshot only																				7.10%
SBC / Revenue	snapshot only																				3.31%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	-4.97	-2.54	-1.29	-0.80	-0.49	-0.76	-0.38	-0.34	-1.85	-2.97	-5.62	-4.56	-23.64	-3.97	-4.31	-7.42	-11.56	-16.13	-12.62	-16.80	-10.956
P/S Ratio	—	—	—	—	—	50.93	7.00	4.42	27.68	21.42	46.88	40.51	54.29	42.55	51.82	85.00	183.09	179.93	219.36	458.19	270.001
P/B Ratio	5.04	4.65	4.91	4.57	7.10	134.28	-3.38	-1.14	-8.09	4.42	12.32	4.79	6.06	4.96	6.80	2.77	5.28	7.12	7.73	6.49	4.412
P/FCF	-6.12	-3.20	-1.48	-0.84	-0.45	-1.12	-0.59	-0.68	-7.60	-4.12	-8.71	-6.58	-6.78	-4.35	-4.45	-8.34	-13.57	-18.74	-14.21	-18.54	-18.538
P/OCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBITDA	-4.05	-2.07	-1.13	-0.80	-0.69	-0.62	-0.37	-0.49	-1.41	-2.37	-5.33	-3.67	-21.44	-3.17	-3.73	-4.76	-9.39	-13.46	-10.69	-14.21	-14.205
EV/Revenue	—	—	—	—	—	39.76	6.50	5.93	20.36	16.06	42.41	31.58	44.70	33.44	44.17	53.74	146.92	149.07	184.72	385.29	385.293
EV/EBIT	-4.05	-2.07	-1.13	-0.80	-0.68	-0.61	-0.36	-0.48	-1.39	-2.33	-5.25	-3.63	-20.16	-3.12	-3.68	-4.70	-9.28	-13.32	-10.59	-14.08	-14.084
EV/FCF	-4.95	-2.58	-1.28	-0.82	-0.62	-0.87	-0.55	-0.91	-5.59	-3.09	-7.88	-5.13	-5.58	-3.42	-3.80	-5.27	-10.89	-15.53	-11.97	-15.59	-15.588
Earnings Yield	-20.1%	-39.3%	-77.5%	-1.2%	-2.0%	-1.3%	-2.7%	-2.9%	-54.1%	-33.7%	-17.8%	-21.9%	-4.2%	-25.2%	-23.2%	-13.5%	-8.6%	-6.2%	-7.9%	-6.0%	-5.95%
FCF Yield	-16.4%	-31.2%	-67.7%	-1.2%	-2.2%	-89.2%	-1.7%	-1.5%	-13.2%	-24.3%	-11.5%	-15.2%	-14.8%	-23.0%	-22.5%	-12.0%	-7.4%	-5.3%	-7.0%	-5.4%	-5.39%
PEG Ratio	snapshot only																				0.662
Price/Tangible Book	snapshot only																				6.490
EV/Gross Profit	snapshot only																				458.922
Shareholder Yield	snapshot only																				0.01%

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	4.56	3.08	2.20	1.79	1.30	1.54	1.33	1.07	0.95	4.08	3.38	5.22	5.51	5.42	5.35	12.48	10.48	12.23	14.04	17.76	17.765
Quick Ratio	4.56	3.08	2.20	1.79	1.30	1.54	1.33	1.07	0.95	4.08	3.38	5.22	5.51	5.42	5.35	12.48	10.48	12.23	14.04	17.76	17.765
Debt/Equity	0.39	0.66	1.24	1.93	5.69	63.15	-4.00	-1.60	-1.21	0.82	1.13	0.53	0.70	0.88	1.11	0.24	0.32	0.07	0.08	0.14	0.143
Net Debt/Equity	-0.96	-0.90	-0.66	-0.09	2.60	-29.45	—	—	—	-1.11	-1.18	-1.06	-1.07	-1.06	-1.00	-1.02	-1.04	-1.22	-1.22	-1.03	-1.033
Debt/Assets	0.23	0.29	0.38	0.44	0.57	0.47	0.59	0.73	0.30	0.35	0.40	0.29	0.35	0.39	0.44	0.18	0.22	0.05	0.06	0.12	0.118
Debt/EBITDA	-0.38	-0.37	-0.33	-0.35	-0.40	-0.37	-0.47	-0.51	-0.29	-0.58	-0.54	-0.52	-3.03	-0.72	-0.72	-0.65	-0.70	-0.17	-0.14	-0.37	-0.373
Net Debt/EBITDA	0.95	0.50	0.18	0.02	-0.18	0.17	0.03	-0.12	0.51	0.79	0.56	1.04	4.60	0.86	0.65	2.77	2.31	2.79	2.00	2.69	2.688
Interest Coverage	-192.29	-121.21	-90.82	-69.21	-49.67	-49.67	-32.57	-25.55	-41.32	-21.32	-31.30	-50.04	-27.72	-874.47	-942.11	-1129.73	-1367.89	-1736.40	-2458.19	-3572.67	-3572.667
Equity Multiplier	1.72	2.24	3.27	4.35	10.02	133.06	-6.80	-2.20	-3.99	2.31	2.84	1.84	2.03	2.24	2.51	1.34	1.45	1.39	1.42	1.21	1.215
Cash Ratio	snapshot only																				17.533
Debt Service Coverage	snapshot only																				-3542.190
Cash to Debt	snapshot only																				8.198
FCF to Debt	snapshot only																				-2.440
Defensive Interval	snapshot only																				1053.6 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.01	0.05	0.09	0.09	0.10	0.11	0.09	0.05	0.05	0.05	0.03	0.03	0.04	0.03	0.01	0.014
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables Turnover	0.00	0.00	0.00	0.00	0.00	0.10	0.15	0.17	0.29	0.19	0.11	0.03	0.00	0.00	0.00	0.00	0.06	0.12	0.20	0.10	0.104
DSO	—	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DIO	—	—	—	—	—	0	0	0	0	0	0	0	—	—	—	—	0	0	0	0	0.0 days
DPO	—	—	—	—	—	3555	2449	2104	1243	1898	3421	10743	—	—	—	—	6617	3078	1844	3500	3500.1 days
Cash Conversion Cycle	—	—	—	—	—	-3555	-2449	-2104	-1243	-1898	-3421	-10743	—	—	—	—	-6617	-3078	-1844	-3500	-3500.1 days
Fixed Asset Turnover	snapshot only																				0.628
Cash Velocity	snapshot only																				0.012
Capital Intensity	snapshot only																				85.767

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	—	—	—	—	—	—	—	—	—	5.2%	96.4%	34.1%	-30.9%	-46.1%	-49.0%	-37.1%	-36.4%	17.3%	3.4%	-32.3%	-32.27%
Net Income	-8.5%	-4.2%	-1.9%	-74.9%	-13.2%	4.5%	30.5%	33.1%	-33.3%	33.1%	11.9%	8.1%	89.4%	20.0%	26.5%	18.9%	-3.4%	-22.1%	-49.7%	-61.4%	-61.38%
EPS	-1.9%	-4.2%	-1.9%	-63.3%	-5.1%	35.5%	58.1%	58.2%	56.6%	79.8%	75.9%	74.7%	95.0%	27.0%	36.9%	36.6%	-2.3%	21.8%	-9.9%	-30.3%	-30.31%
FCF	-16.2%	-3.2%	-2.0%	-1.1%	-50.7%	18.0%	49.3%	64.9%	70.0%	29.3%	10.7%	-26.4%	-51.9%	-1.5%	-10.3%	-4.2%	-7.2%	-15.0%	-37.2%	-64.3%	-64.25%
EBITDA	-8.4%	-4.2%	-1.9%	-72.1%	-11.1%	6.8%	33.1%	36.1%	-31.5%	35.0%	11.4%	4.9%	90.0%	15.9%	24.1%	17.4%	-3.8%	-23.1%	-51.1%	-62.6%	-62.63%
Op. Income	-8.4%	-4.2%	-1.9%	-72.6%	-11.5%	26.6%	50.7%	54.2%	53.1%	43.5%	15.4%	7.8%	-18.2%	-27.3%	-11.3%	-21.3%	-16.4%	-20.8%	-49.7%	-62.9%	-62.93%
OCF Growth	snapshot only																				-60.96%
Asset Growth	snapshot only																				41.13%
Equity Growth	snapshot only																				55.70%
Debt Growth	snapshot only																				-6.79%
Shares Change	snapshot only																				23.84%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	57.5%	1.2%	-17.0%	-17.03%
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.2%	10.4%	-11.3%	-11.26%
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	—	—	—	—	—	—	—	—	-11.2%	-12.6%	-14.3%	-6.1%	-9.2%	-9.2%	-5.9%	32.8%	41.6%	39.6%	43.5%	79.4%	79.35%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.5%	5.8%	4.3%	14.2%	14.23%
Equity 3Y	—	—	—	—	—	—	—	—	—	-33.2%	-37.7%	-16.4%	-14.2%	-9.1%	2.8%	96.6%	1.7%	5.4%	—	—	—
Book Value 3Y	—	—	—	—	—	—	—	—	—	-60.8%	-66.2%	-54.5%	-55.2%	-48.1%	-46.4%	0.8%	31.6%	2.6%	—	—	—
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	—	—	—	—	1.00	0.75	0.75	0.75	0.60	0.73	0.89	0.88	0.62	0.51	0.41	0.42	0.35	0.48	0.33	0.20	0.201
Earnings Stability	—	—	—	—	0.84	0.71	0.29	0.05	0.89	0.20	0.06	0.02	0.02	0.02	0.01	0.19	0.01	0.00	0.00	0.01	0.013
Margin Stability	—	—	—	—	—	—	—	—	—	—	—	—	—	0.51	0.81	0.80	0.86	0.61	0.84	0.84	0.835
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.00	0.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.00	1.00	1.00	1.00	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	—	—	—	—	0.95	0.98	0.88	0.87	0.87	0.87	0.95	0.97	0.50	0.92	0.89	0.92	0.50	0.91	0.80	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	—	—	—	—	-13.96	-174.63	—	—	—	87.23	—	—	—	87.30	—	—	—	0.93	1.27	0.33	0.325
Gross Margin Trend	—	—	—	—	—	—	—	—	—	—	—	—	—	0.39	0.20	0.17	0.07	-0.01	-0.08	-0.15	-0.148
FCF Margin Trend	—	—	—	—	—	—	—	—	—	—	—	—	—	15.53	-3.02	-3.85	-7.67	-2.10	-6.93	-16.54	-16.543
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	0.68	0.67	0.71	0.79	0.89	0.53	0.51	0.43	0.20	0.65	0.62	0.66	3.47	0.91	0.96	0.89	0.85	0.85	0.86	0.88	0.883
FCF/OCF	1.20	1.18	1.24	1.22	1.22	1.28	1.25	1.17	1.23	1.10	1.05	1.05	1.00	1.00	1.01	1.01	1.01	1.01	1.03	1.03	1.026
FCF/Net Income	snapshot only																				0.906
CapEx/Revenue	—	—	—	—	—	9.9%	2.4%	96.1%	67.7%	48.0%	25.8%	30.0%	4.0%	4.5%	8.5%	5.1%	7.7%	7.6%	45.3%	61.6%	61.64%
CapEx/Depreciation	snapshot only																				2.641
Accruals Ratio	-0.18	-0.24	-0.28	-0.21	-0.10	-0.46	-0.49	-0.63	-1.12	-0.26	-0.36	-0.28	0.30	-0.05	-0.02	-0.04	-0.06	-0.06	-0.08	-0.04	-0.043
Sloan Accruals	snapshot only																				0.356
Cash Flow Adequacy	snapshot only																				-39.098

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.01%
Net Buyback Yield	-0.2%	0.0%	0.0%	0.0%	0.0%	-32.6%	-82.5%	-98.0%	-45.9%	-42.4%	-21.1%	-40.4%	-14.3%	-21.7%	-20.5%	-32.3%	-18.7%	-15.1%	-16.2%	-10.6%	-10.61%
Total Shareholder Return	-0.2%	0.0%	0.0%	0.0%	0.0%	-32.6%	-82.5%	-98.0%	-45.9%	-42.4%	-21.1%	-40.4%	-14.3%	-21.7%	-20.5%	-32.3%	-18.7%	-15.1%	-16.2%	-10.6%	-10.61%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Interest Burden (EBT/EBIT)	1.01	1.01	1.01	1.01	1.02	1.02	1.03	1.04	1.02	1.05	1.03	1.02	1.04	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.997
EBIT Margin	—	—	—	—	—	-65.30	-18.03	-12.47	-14.63	-6.90	-8.08	-8.71	-2.22	-10.70	-12.00	-11.44	-15.83	-11.19	-17.44	-27.36	-27.357
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.01	0.05	0.09	0.09	0.10	0.11	0.09	0.05	0.05	0.05	0.03	0.03	0.04	0.03	0.01	0.014
Equity Multiplier	1.28	1.36	1.49	1.75	2.33	3.53	7.48	-50.83	-8.09	3.94	6.54	3.93	9.47	2.27	2.68	1.49	1.61	1.58	1.64	1.26	1.264

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$-3.75	$-4.58	$-5.05	$-4.63	$-3.94	$-2.96	$-2.12	$-1.94	$-1.71	$-0.60	$-0.51	$-0.49	$-0.09	$-0.44	$-0.32	$-0.31	$-0.28	$-0.34	$-0.35	$-0.41	$-0.41
Book Value/Share	$3.69	$2.50	$1.33	$0.81	$0.27	$0.02	$-0.24	$-0.58	$-0.39	$0.40	$0.23	$0.47	$0.33	$0.35	$0.20	$0.83	$0.62	$0.77	$0.58	$1.05	$1.05
Tangible Book/Share	$3.69	$2.50	$1.33	$0.81	$0.27	$0.02	$-0.24	$-0.58	$-0.39	$0.40	$0.23	$0.47	$0.33	$0.35	$0.20	$0.83	$0.62	$0.77	$0.58	$1.05	$1.05
Revenue/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.04	$0.11	$0.15	$0.11	$0.08	$0.06	$0.06	$0.04	$0.04	$0.03	$0.03	$0.02	$0.03	$0.02	$0.01	$0.01
FCF/Share	$-3.04	$-3.64	$-4.41	$-4.45	$-4.26	$-2.02	$-1.35	$-0.98	$-0.42	$-0.43	$-0.33	$-0.34	$-0.30	$-0.40	$-0.31	$-0.28	$-0.24	$-0.29	$-0.31	$-0.37	$-0.37
OCF/Share	$-2.54	$-3.07	$-3.56	$-3.65	$-3.50	$-1.58	$-1.08	$-0.83	$-0.34	$-0.39	$-0.31	$-0.32	$-0.30	$-0.40	$-0.31	$-0.28	$-0.24	$-0.29	$-0.31	$-0.36	$-0.36
Cash/Share	$4.97	$3.91	$2.53	$1.65	$0.84	$1.56	$1.00	$0.70	$1.31	$0.77	$0.54	$0.74	$0.59	$0.68	$0.43	$1.05	$0.84	$1.00	$0.75	$1.23	$1.23
EBITDA/Share	$-3.72	$-4.53	$-4.98	$-4.54	$-3.84	$-2.85	$-2.01	$-1.81	$-1.64	$-0.56	$-0.49	$-0.48	$-0.08	$-0.43	$-0.32	$-0.31	$-0.28	$-0.34	$-0.35	$-0.40	$-0.40
Debt/Share	$1.43	$1.66	$1.65	$1.57	$1.55	$1.06	$0.95	$0.93	$0.47	$0.33	$0.26	$0.25	$0.23	$0.31	$0.23	$0.20	$0.20	$0.06	$0.05	$0.15	$0.15
Net Debt/Share	$-3.54	$-2.26	$-0.88	$-0.08	$0.71	$-0.50	$-0.06	$0.22	$-0.84	$-0.44	$-0.27	$-0.49	$-0.36	$-0.37	$-0.21	$-0.85	$-0.65	$-0.94	$-0.71	$-1.08	$-1.08

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	15.819
Altman Z-Prime	snapshot only																				30.112
Piotroski F-Score	1	1	1	1	1	2	3	3	4	6	6	5	3	3	3	4	3	4	4	3	3
Beneish M-Score	—	—	—	—	—	—	—	—	—	-3.59	-4.35	-4.44	-1.96	-3.25	-3.02	-1.91	—	-1.08	—	—	—
Ohlson O-Score	snapshot only																				-5.631
ROIC (Greenblatt)	snapshot only																				-33.78%
Net-Net WC	snapshot only																				$1.02

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				BBB+
Credit Score	44.04	27.54	25.09	22.36	17.15	19.31	20.00	19.97	17.79	29.96	28.45	30.16	29.96	29.56	27.87	48.84	63.45	64.94	64.92	64.66	64.662
Credit Grade	snapshot only																				8
Credit Trend	snapshot only																				15.824
Implied Spread (bps)	snapshot only																				225.000
Industry Credit Rank	snapshot only																				62
Sector Credit Rank	snapshot only																				58

TSHA NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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