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TIVC

Tivic Health Systems, Inc.

TIVC

Tivic Health Systems, Inc. • NASDAQ
$1.79 ▲ 1.70% (+0.03)
Market Cap $1.94 M
52w High $15.64
52w Low $1.47
Dividend Yield 0%
P/E -0.22
Volume 40.77K
Outstanding Shares 1.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $146K ▲ $2.338M ▲ $-2.596M ▼ -1.778K% ▲ $-1.97 ▲ $-2.596M ▼
Q2-2025 $86K ▲ $1.988M ▲ $-1.931M ▼ -2.245K% ▼ $-2.19 ▲ $-1.933M ▼
Q1-2025 $70K ▼ $1.556M ▲ $-1.502M ▼ -2.146K% ▼ $-2.52 ▲ $-1.506M ▼
Q4-2024 $180K ▲ $1.304M ▼ $-1.477M ▼ -820.556% ▲ $-3.2 ▲ $-1.27M ▲
Q3-2024 $126K $1.475M $-1.431M -1.136K% $-3.93 $-1.43M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.45M ▲ $6.229M ▲ $638K ▼ $5.591M ▲
Q2-2025 $1.184M ▲ $4.508M ▲ $821K ▲ $3.687M ▲
Q1-2025 $669K ▼ $3.777M ▲ $741K ▲ $3.036M ▲
Q4-2024 $2.002M ▼ $2.807M ▼ $272K ▼ $2.535M ▼
Q3-2024 $2.189M $3.394M $560K $2.834M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.596M ▼ $-1.996M ▼ $-10K ▲ $4.272M ▲ $2.266M ▲ $-2.006M ▼
Q2-2025 $-1.931M ▼ $-1.827M ▼ $-20K ▲ $2.362M ▲ $515K ▲ $-1.847M ▼
Q1-2025 $-1.502M ▼ $-889K ▲ $-526K ▼ $82K ▼ $-1.333M ▼ $-889K ▲
Q4-2024 $-1.477M ▼ $-1.365M ▲ $0 $1.178M ▲ $-187K ▲ $-1.365M ▲
Q3-2024 $-1.431M $-1.407M $0 $-97K $-1.504M $-1.407M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Returns
Returns
 $0 ▲$0 ▲$0 ▲$0 ▲
Shipping and Handling
Shipping and Handling
 $0 ▲$0 ▲$0 ▲$0 ▲
Product Sales
Product Sales
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Tivic looks like an extremely early‑stage company from an income perspective. Reported revenue has essentially been absent for several years, while operating losses have been steady, even if small in absolute terms. That means the current business and pipeline are still in the investment and development phase, not yet in a clear commercial scaling phase. The repeated negative earnings per share reflect both ongoing losses and significant share structure changes, rather than any sign of growing profitability. Overall, the income statement points to a company still searching for sustainable, meaningful revenue and scale.

Balance Sheet

Balance Sheet The balance sheet appears very thin, with only modest total assets, very little cash reported recently, and no notable debt. Equity is also close to break‑even levels, suggesting limited balance‑sheet cushion. On the positive side, the lack of financial debt reduces interest burden and default risk. On the risk side, the small asset base and limited cash imply a narrow margin for error and a likely dependence on raising new capital to fund operations and growth. Recent reverse stock splits underline that the company has been restructuring its share base, which can be a signal of past dilution and efforts to maintain listing standards.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, and free cash flow has also been negative, even though investment spending on equipment is minimal. In practice, this means the core business and development activities consume cash rather than generate it. With very limited cash reported on the balance sheet, Tivic’s ability to keep funding its pipeline likely hinges on external capital sources, such as equity raises, grants, or partnerships. Until there is a meaningful shift toward commercial revenue, cash burn and funding access remain central risks.

Competitive Edge

Competitive Edge Tivic operates in a crowded healthcare space but in a more specialized niche within bioelectronic medicine and non‑drug therapies. Its ClearUP device has regulatory clearance and positions the company as an early mover in bioelectronic sinus relief, with patents and a drug‑free angle that help differentiate it from traditional medications and simpler consumer devices. The direct‑to‑consumer approach gives some control over branding and customer relationships, but also requires marketing strength and consumer education, which can be costly. Larger medical device and pharmaceutical players could enter adjacent areas, so Tivic’s long‑term competitive position will depend on how well it can translate early technology and IP advantages into scale, partnerships, and a broader product ecosystem.

Innovation and R&D

Innovation and R&D Innovation is clearly Tivic’s main asset. The company has built a bioelectronic platform around microcurrent therapy and nerve stimulation, expanded ClearUP with an updated version, and holds patents that protect its adaptive and personalized stimulation features. Beyond devices, Tivic is moving into therapeutics with the Entolimod drug candidate for radiation syndrome and certain cancers, which has received favorable regulatory designations and could open doors to government and oncology markets if development progresses successfully. The non‑invasive vagus nerve stimulation program adds another long‑term option in a potentially large field. Overall, Tivic is rich in ideas and early‑stage programs, but most of these innovations are still in development or early commercialization, so their ultimate clinical adoption and economic impact remain uncertain.

Summary

Tivic Health is a very small, highly developmental healthcare company: it has innovative technology and a broader pipeline story, but its financial profile is that of a pre‑scale business with no meaningful revenue yet, recurring operating losses, and a very slim balance‑sheet cushion. The company’s main strengths lie in its bioelectronic expertise, regulatory clearance for its sinus device, a growing patent portfolio, and the strategic push into both devices and therapeutics, including Entolimod and vagus nerve stimulation. Key risks include ongoing cash burn, reliance on external funding, execution risk in clinical and regulatory milestones, and the challenge of standing out and scaling in a competitive healthcare landscape. Future outcomes will likely hinge on whether Tivic can successfully convert its innovations and partnerships into sustainable commercial traction before its financial resources become too constrained.

NEWS

November 18, 2025 · 8:30 AM UTC

Tivic Secures Barda Meeting for Entolimod(TM) for Acute Radiation Syndrome

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November 14, 2025 · 4:30 PM UTC

Tivic Reports Third Quarter 2025 Financial Results

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November 13, 2025 · 8:30 AM UTC

Tivic Health Reports Findings of Clinical Optimization Trial of Non-Invasive Cervical Vagus Nerve Stimulation (ncVNS)

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November 10, 2025 · 9:00 AM UTC

Tivic Expands Intellectual Property Portfolio

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November 6, 2025 · 9:30 AM UTC

Tivic Health to Report Third Quarter 2025 Financial Results on November 14th Via Conference Call and Webcast

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