Tivic Health Systems (TIVC) AI Stock Analysis

• Market Cap: $3.41M
• Dividend Yield: N/A
• Average Volume (3M): 99.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: -49.63%
• EPS Growth: 82.22%
• Country: US
• Employees: 7
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -1.97
• Shares Outstanding: 2,525,778
• 10 Day Avg. Volume: 91,463
• 30 Day Avg. Volume: 99,839
• PEG Ratio: 3.37
• Price to Book (P/B): 667.70
• Price to Sales (P/S): 2170.01
• P/FCF Ratio: -295.65
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 5.13
• Enterprise Value/Gross Profit: -8.83
• Enterprise Value/Ebitda: -0.34
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $1.50 ▲(1.35% Upside)

The score is primarily held down by weak financial performance (tiny revenue base, persistent losses, and significant cash burn) and bearish technicals (price below all major moving averages with negative MACD). Partial offsets include strategic progress discussed on the earnings call and corporate steps to build manufacturing capability, but these come with added financing/dilution and execution risk.

Positive Factors

Strategic Transformation

The shift to biologic pharmaceuticals, including Entolimod development, positions Tivic for potential growth in new markets, enhancing its long-term strategic direction.

Manufacturing Capability

In-house manufacturing through Velocity Bioworks can reduce costs and accelerate product development, providing a competitive edge and new revenue streams.

Cash Position

A stronger cash position without debt enhances financial flexibility, supporting strategic initiatives and reducing financial risk.

Negative Factors

Persistent Losses

Ongoing losses indicate challenges in achieving profitability, which can hinder long-term sustainability and necessitate further external funding.

Revenue Decline

Declining revenue reflects reduced sales and market challenges, potentially impacting cash flow and the ability to fund future growth.

Manufacturing Delays

Delays in manufacturing can disrupt product timelines and revenue generation, posing risks to operational execution and market competitiveness.

Tivic Health Systems Business Overview & Revenue Model

Company Description

Tivic Health Systems Inc. operates as a bioelectronic device company that delivers non-invasive neuromodulation products for the treatment of inflammatory conditions. Its primary product is ClearUP, is a medical device intended to relieve sinus and nasal inflammation. The company sells its products on direct-to-consumer channel through its own websites; and platforms, such as Amazon.com and Walmart.com, as well as to U.S. online retailers, including BestBuy.com and FSAStore.com. Tivic Health Systems, Inc. was incorporated in 2016 and is headquartered in Hayward, California.

How the Company Makes Money

Tivic Health Systems generates revenue primarily through the sale of its medical devices, particularly ClearUP Sinus Relief. The company sells its products directly to consumers through online platforms and retail partnerships. Additionally, Tivic may collaborate with healthcare providers and distributors to expand its market reach. The company's earnings are also influenced by its ongoing research and development efforts to introduce new products and innovations in the bioelectronic medicine field, potentially opening additional revenue streams in the future.

Tivic Health Systems Financial Statement Overview

Summary

Tivic Health Systems faces significant financial challenges with declining revenues, consistent losses, and negative cash flows. While the balance sheet shows a low debt level, reliance on external financing and a deteriorating asset base are concerns. Profitability and operational efficiency need improvement.

Income Statement

The income statement shows a concerning trajectory with declining revenues from $1,840,000 in 2022 to $780,000 in 2024 and consistent negative net income. Gross profit margins have deteriorated significantly, leading to negative EBIT and EBITDA margins. Despite these challenges, there was a slight improvement in the gross profit margin from negative to positive, but overall profitability remains weak.

Balance Sheet

The balance sheet shows a strong equity position with stockholders' equity exceeding total debt, resulting in a Debt-to-Equity Ratio of zero. However, total assets have been decreasing from $5,856,000 in 2022 to $2,807,000 in 2024, indicating asset deterioration. The equity ratio remains strong but declining equity and asset base are concerns.

Cash Flow

Cash flow analysis reveals negative operating cash flows, indicating operational challenges. Free cash flow remains negative, reflecting ongoing cash burn. Positive financing cash flows in recent years suggest reliance on external funding. The Free Cash Flow to Net Income Ratio is unfavorable, highlighting inefficiencies in cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	482.00K	780.00K	1.18M	1.84M	1.17M	860.00K
Gross Profit	-280.00K	2.00K	287.00K	299.00K	-129.00K	-225.00K
EBITDA	-7.30M	-5.31M	-8.06M	-9.92M	-6.65M	-3.21M
Net Income	-7.51M	-5.66M	-8.24M	-10.10M	-8.49M	-3.64M
Balance Sheet
Total Assets	6.23M	2.81M	5.16M	6.02M	15.04M	1.53M
Cash, Cash Equivalents and Short-Term Investments	3.45M	2.00M	3.40M	3.52M	12.97M	1.04M
Total Debt	0.00	0.00	369.00K	530.00K	708.00K	1.47M
Total Liabilities	638.00K	272.00K	1.58M	2.39M	1.76M	2.71M
Stockholders Equity	5.59M	2.54M	3.58M	3.63M	13.27M	-1.18M
Cash Flow
Free Cash Flow	-6.11M	-5.72M	-8.63M	-8.93M	-5.61M	-3.03M
Operating Cash Flow	-6.08M	-5.72M	-8.51M	-8.92M	-5.61M	-3.03M
Investing Cash Flow	-556.00K	0.00	-118.00K	-11.00K	0.00	0.00
Financing Cash Flow	7.89M	4.33M	8.51M	-528.00K	17.54M	1.76M

Tivic Health Systems Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TIVC, the sentiment is Negative. The current price of 1.48 is below the 20-day moving average (MA) of 1.77, below the 50-day MA of 1.94, and below the 200-day MA of 3.27, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 37.41 is Neutral, neither overbought nor oversold. The STOCH value of 12.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TIVC.

Tivic Health Systems Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AEMD	45 Neutral	$2.39M	-0.05	-191.39%	―	―	76.53%
BJDX	44 Neutral	$1.18M	-0.02	-126.20%	―	―	97.70%
TIVC	43 Neutral	$3.41M	-0.15	-178.18%	―	-49.63%	82.22%
NUWE	43 Neutral	$3.27M	-0.02	-467.14%	―	-8.93%	97.80%
MOVE	40 Underperform	$6.23M	-0.31	-398.78%	―	-44.57%	55.97%

Tivic Health Systems Corporate Events

Tivic Health Systems Acquires Scorpius Holdings Assets

On December 9, 2025, Tivic Health Systems acquired the manufacturing and development assets of Scorpius Holdings, launching a new subsidiary, Velocity Bioworks, to provide contract development and manufacturing services. This acquisition allows Tivic to bring manufacturing in-house, reducing costs and accelerating the development of its lead drug, Entolimod, while also creating new revenue opportunities by serving other biotech companies. The acquisition was financed by a $16 million debt and up to $75 million in preferred convertible equity led by 3i, LP. Additionally, Tivic terminated its Equity Purchase Agreement with Mast Hill Fund, L.P. on December 9, 2025.

Tivic Health Systems Shifts Focus to Biopharma Program

On November 12, 2025, Tivic Health Systems‘ board decided to wind down its ClearUP business by the end of the year to focus on its biopharma program, incurring costs of approximately $347,000 in the third quarter and expecting additional expenditures of $20,000 to $50,000. The company anticipates minimal revenue until regulatory approval and commercialization of its other products. Tivic reported a net loss of $2.6 million for the third quarter of 2025, compared to $1.4 million in 2024, as it transitions to focus on its biologics pipeline, including the development of Entolimod for military and medical applications.

Tivic Health Unveils Clinical Study Findings

On November 13, 2025, Tivic Health Systems announced the findings of a Clinical Optimization Study for its non-invasive vagus nerve stimulation device, conducted in collaboration with The Feinstein Institutes for Medical Research. The study highlighted the importance of personalizing stimulation parameters, such as frequency and electrode placement, to enhance autonomic effects, with potential clinical utility for conditions like ischemic stroke and PTSD. These findings may open new opportunities for Tivic’s product development and partnerships.

Tivic Health Systems Announces New CEO Employment Agreement

On October 8, 2025, Tivic Health Systems, Inc. announced a new executive employment agreement with CEO Jennifer Ernst, replacing her previous offer letter from July 31, 2021. The agreement outlines her base salary, potential bonuses, and conditions for termination, impacting her compensation and the company’s executive management structure.