TherapeuticsMD (TXMD) AI Stock Analysis

• Market Cap: $25.00M
• Dividend Yield: N/A
• Average Volume (3M): 310.58K
• Price to Earnings (P/E): 82.8
• Beta (1Y): 1.36
• Revenue Growth: 75.19%
• EPS Growth: N/A
• Country: US
• Employees: 1
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.01
• Shares Outstanding: 11,574,362
• 10 Day Avg. Volume: 897,126
• 30 Day Avg. Volume: 310,579
• PEG Ratio: 0.07
• Price to Book (P/B): 0.36
• Price to Sales (P/S): 5.63
• P/FCF Ratio: 13.55
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 8.72
• Enterprise Value/Gross Profit: 9.03
• Enterprise Value/Ebitda: -25.02
• 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: 52 Neutral
• Price Target: $3.00 ▲(78.57% Upside)

The score is driven primarily by improving financial performance (turn to positive net income and positive free cash flow) but held back by still-weak operating profitability. Technicals are supportive (price above key moving averages, positive MACD) yet show overbought conditions, while valuation is a key drag due to a very high P/E and no dividend support. Corporate updates are generally constructive but not decisive on their own.

Positive Factors

Licensing-based business model

A licensing-first model reduces fixed commercial costs and capital intensity by shifting manufacturing, marketing and distribution to partners. Over months this supports scalable, less capital-dependent revenue (upfronts, milestones, royalties), improving long-term cash convertibility if deals continue.

Improved cash generation

Turning operating and free cash flow positive marks a material structural improvement from prior years. Consistent FCF provides runway for licensing negotiations, potential M&A evaluation, and lowers reliance on external financing, strengthening resilience across the next several quarters.

Manageable leverage

Low absolute debt and a modest debt-to-equity ratio give the company balance-sheet flexibility to fund strategic alternatives or weather revenue variability. This reduced leverage lowers interest burden and preserves capacity for targeted investments or licensing transactions over the medium term.

Negative Factors

Weak operating profitability

Deeply negative EBIT and EBITDA margins signal the core business has not yet generated sustainable operating earnings. Absent durable operating improvements or steady recurring royalties, profitability weakness risks recurring losses and constrains reinvestment and long-term shareholder returns.

Dependence on commercialization partners

Relying on licensees for manufacturing, marketing and sales transfers execution risk away from the company. Long-term revenue and royalty streams can be uneven and outside management's direct control, limiting predictability of cash flow and making growth contingent on partner performance.

Limited cash coverage vs debt

A low operating cash flow to debt coverage ratio indicates limited internal cushion to service obligations if revenues slip. This constrains strategic flexibility and raises reliance on external financing or new licensing deals until operating cash generation sustainably increases.

TherapeuticsMD Business Overview & Revenue Model

Company Description

TherapeuticsMD, Inc. operates as a women's healthcare company in the United States. The company offers IMVEXXY for the treatment of moderate-to-severe dyspareunia; BIJUVA, a bio-identical hormone therapy combination of 17ß-estradiol and progesterone for the treatment of moderate-to-severe vasomotor symptoms; and ANNOVERA, a ring-shaped contraceptive vaginal system. Its preclinical projects include the development of TX-005HR, a progesterone-alone transdermal cream; TX-006HR, an estradiol and progesterone transdermal cream; TX-007HR and TX-008HR, which are transdermal patch product candidates; and TX-009HR, an oral progesterone and estradiol formulation. It also manufactures and distributes branded and generic prescription prenatal vitamins under the vitaTrue, vitaPearl, vitaMedMD, and BocaGreenMD Prena1 brands. The company sells its prescription pharmaceutical products and prenatal vitamin products to wholesale distributors and retail pharmacy distributors. TherapeuticsMD, Inc. was founded in 2008 and is headquartered in Boca Raton, Florida.

How the Company Makes Money

TherapeuticsMD generates revenue primarily through the sale of its pharmaceutical products. The company's key revenue streams include the sales of its FDA-approved hormone therapy products and prenatal vitamins. TherapeuticsMD also engages in partnerships with healthcare providers and pharmacies to distribute its products, enhancing its market reach and accessibility. Additionally, the company may engage in licensing agreements and collaborations with other pharmaceutical companies to leverage its research and development capabilities, thus contributing to its earnings.

TherapeuticsMD Financial Statement Overview

Summary

Financials are improving but not yet consistently strong: revenue rose (+9.3% TTM) and net income turned slightly positive, supported by positive operating/free cash flow (~$2.1M TTM). However, operating profitability remains weak with deeply negative EBIT/EBITDA margins, and cash flow coverage versus debt is still modest.

Income Statement

Results show a sharp improvement versus prior years, but profitability remains mixed. TTM (Trailing-Twelve-Months) revenue grew strongly (+9.3%), and losses narrowed materially versus 2023–2024, with net income turning slightly positive in TTM after sizable losses in 2023 and 2024. However, operating profitability is still weak: TTM EBIT and EBITDA margins remain deeply negative, signaling the core business is not consistently generating operating earnings despite very high gross margin in TTM. Overall: improving trajectory, but still not a clean, durable earnings profile.

Balance Sheet

Leverage appears manageable in the most recent periods, with total debt (~$6.5M in TTM) low relative to equity (~$27.4M) and a moderate debt-to-equity level (~0.21 in TTM), improving versus 2023–2024. That said, returns on equity are still negative in TTM and 2024, reflecting lingering profitability challenges. The balance sheet looks far more stable than 2020–2021 (when equity was negative and leverage was extreme), but sustained earnings power is still the key gap.

Cash Flow

Cash generation improved meaningfully: TTM operating cash flow and free cash flow were positive (~$2.1M each) with very strong free-cash-flow growth from the prior year. This is a notable turnaround from 2023, when operating cash flow was deeply negative and free cash flow was effectively zero. A watch item is that operating cash flow remains modest relative to debt in TTM (coverage ~0.29), implying limited cushion if financing needs rise. Overall cash flow quality is improving, but consistency across cycles remains to be proven.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.80M	1.76M	1.30M	69.96M	2.57M	64.87M
Gross Profit	2.70M	1.76M	1.30M	68.57M	1.17M	48.90M
EBITDA	-974.00K	-2.98M	-8.08M	11.86M	-70.84M	-153.41M
Net Income	302.00K	-2.18M	-10.28M	112.00M	-172.41M	-183.52M
Balance Sheet
Total Assets	38.67M	38.82M	43.31M	90.46M	169.47M	181.61M
Cash, Cash Equivalents and Short-Term Investments	7.12M	5.06M	4.33M	38.07M	64.91M	80.49M
Total Debt	6.48M	7.17M	8.01M	8.76M	197.69M	248.63M
Total Liabilities	11.23M	11.45M	14.02M	55.31M	263.09M	305.61M
Stockholders Equity	27.44M	27.37M	29.29M	35.14M	-93.62M	-124.00M
Cash Flow
Free Cash Flow	2.07M	732.00K	0.00	-4.43M	-147.84M	-161.07M
Operating Cash Flow	2.07M	732.00K	-48.14M	-4.08M	-147.81M	-159.47M
Investing Cash Flow	0.00	0.00	0.00	223.48M	-2.22M	-1.60M
Financing Cash Flow	0.00	0.00	3.15M	-235.21M	134.67M	80.72M

TherapeuticsMD Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.68
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TXMD, the sentiment is Neutral. The current price of 1.68 is below the 20-day moving average (MA) of 2.22, below the 50-day MA of 1.90, and above the 200-day MA of 1.37, indicating a neutral trend. The MACD of 0.15 indicates Positive momentum. The RSI at 50.56 is Neutral, neither overbought nor oversold. The STOCH value of 14.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TXMD.

TherapeuticsMD Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AYTU	54 Neutral	$26.49M	-0.85	-50.23%	―	-15.61%	-68.96%
TXMD	52 Neutral	$25.00M	82.76	0.27%	―	75.19%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
RDHL	47 Neutral	$6.21M	―	―	―	―	―
PRPH	42 Neutral	$1.47M	-0.01	―	―	―	―

TherapeuticsMD Corporate Events

TherapeuticsMD Approves Key Proposals at Annual Meeting

On December 15, 2025, TherapeuticsMD, Inc. held its 2025 Annual Meeting where stockholders voted on several key proposals. These included the election of four directors, approval of executive compensation, determination of voting frequency for executive compensation, ratification of an independent auditor, and an amendment to increase authorized shares. All proposals were approved, indicating strong shareholder support and potentially positioning the company for future growth and strategic initiatives.

TherapeuticsMD Reports Q3 2025 Financial Results

On November 12, 2025, TherapeuticsMD announced its financial results for the third quarter of 2025, reporting a net income of $50 thousand, a significant improvement from a net loss of $567 thousand in the same period of 2024. The company also reported an increase in license revenue to $784 thousand, primarily from the Mayne License Agreement, and a slight decrease in operating expenses. As of September 30, 2025, the company’s cash and cash equivalents totaled $7.1 million. TherapeuticsMD is evaluating strategic alternatives, including potential acquisitions or mergers, but has not set a timetable for these explorations.