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Protalix BioTherapeutics (PLX) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Protalix BioTherapeutics (PLX) Q2 2026 earnings results →

Q2 2026 Revenue up 27% year over year to $19.9M · 19¢ of every $1 of revenue kept as net profit · operating margin 23.5%

Protalix BioTherapeutics made $19.9M in Q2 2026 (+27% Y/Y): GOODS $19.8M, LICENSE AND R&D SERVICES $68K. Operating margin 23.5%, net earnings $3.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.

Revenue$19.9M
Year over year+27%
Operating margin23.5%
Net earnings$3.8M
Operating cash flow−$10.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $19.9M in Q2 2026, up 27% year over year and down 41% from the previous quarter. GOODS was the largest line at 100% of revenue. GOODS added $4.4M year over year (up 28%), 104% of the total change. LICENSE AND R&D SERVICES declined 69%.

Operating profit was $4.7M, a 23.5% margin (up 16.0 points year over year). Of the extra revenue versus Q2 2025, 83% reached operating profit, above the 7% margin then. Total costs grew 5% against revenue growth of 27%. The fastest-growing cost line was Cost of revenue (+32%). Net earnings were $3.8M, up 2203% year over year. The effective tax rate was 22.3%.

Operating cash flow was −$10.4M. Non-cash charges added back $406K of depreciation and $398K of share-based compensation. Working capital and other items used $15.0M. Capital expenditures of $593K exceeded it, leaving free cash flow of −$11.0M.

Quarterly history

Protalix BioTherapeutics revenue by quarterProtalix BioTherapeutics revenue by quarter$18.2MQ4 2024$10.1MQ1 2025$15.7MQ2 2025$17.9MQ3 2025$9.1MQ4 2025$33.8MQ1 2026$19.9MQ2 2026
Protalix BioTherapeutics net earnings by quarterProtalix BioTherapeutics net earnings by quarter$6.5MQ4 2024−$3.6MQ1 2025$164KQ2 2025$2.4MQ3 2025−$5.5MQ4 2025$18.3MQ1 2026$3.8MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 12, 2026$19.9M+27%23.5%$3.8M−$10.4M
Q1 202610-QMay 13, 2026$33.8M+234%62.7%$18.3M$22.0M
Q4 202510-KMar 18, 2026$9.1M-50%-51.1%−$5.5M$2.0M
Q3 202510-QNov 13, 2025$17.9M-0.6%11.9%$2.4M−$3.7M
Q2 202510-QAug 14, 2025$15.7M+16%7.5%$164K−$5.2M
Q1 202510-QMay 9, 2025$10.1M+170%-41.0%−$3.6M−$5.1M
Q4 202410-KMar 17, 2025$18.2M+74%39.6%$6.5M$4.0M

Charts

Protalix BioTherapeutics: revenue growth, year over year and quarter over quarterProtalix BioTherapeutics: revenue growth, year over year and quarter over quarterY/YQ/Q+74%Q4 2024+170%-44%Q1 2025+16%+55%Q2 2025-1%+14%Q3 2025-50%-49%Q4 2025+234%+270%Q1 2026+27%-41%Q2 2026
Latest (Q2 2026): Y/Y +27%, Q/Q -41%.
Protalix BioTherapeutics: where the cash came from (+) and went (−), TTM to Q2 2026Protalix BioTherapeutics: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$9.9MCash drawn (+) / kept (−)−$9.5MCapital spending−$2.3MOther investing$1.2MExchange rates$334KOther financing$296K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Protalix BioTherapeutics: profit against cash, quarter by quarterProtalix BioTherapeutics: profit against cash, quarter by quarterNet incomeOperating cash flow$3.2M$4.1MQ3 2024$6.5M$4.0MQ4 2024−$3.6M−$5.1MQ1 2025$164K−$5.2MQ2 2025$2.4M−$3.7MQ3 2025−$5.5M$2.0MQ4 2025$18.3M$22.0MQ1 2026$3.8M−$10.4MQ2 2026
Latest (Q2 2026): Net income $3.8M, Operating cash flow −$10.4M.
Protalix BioTherapeutics: diluted shares by fiscal yearProtalix BioTherapeutics: diluted shares by fiscal year29MFY202044MFY202148MFY202282MFY202381MFY202479MFY2025
+169.5% since FY2020: more shares outstanding (issuance, stock pay).
Protalix BioTherapeutics in its industry: growth against margin (76 companies, SIC 2836)Protalix BioTherapeutics in its industry: growth against margin (76 companies, SIC 2836)revenue growth, year over year →↑ operating marginmedian +9%median -100%AMGNGILDBIIBMRNANBIXEXELHALOMGTXTECHVIRRGENTARSBCRXALECADMAKRYSIOVATWSTIPSCIMCRVISKVCELADPTNVAXKYMRGLUEIBRXAUTLAGENDNARXRXFENCCSBRCHRSIVVDCRSPEDITDTILVXRTSTRORGNXCCCCBSEMSCLXACOGTSHASRZNVYGRFDMTLENZALGSXFORELUTFATEOCGNSCTXCRBUCGONDBVTINBXMGXLCTXTCRXDYAIPRMEATRAVitro Biopharma, Inc.HUMARLAYPLURBEAMPROKCRDFAIMVIVSPLX (+27%, 24%)
Biological Products, (No Diagnostic Substances); dot size is quarterly revenue; dashed lines are the industry's medians.

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Customers and suppliers named in filings

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About Protalix BioTherapeutics

We are a commercial stage biopharmaceutical company focused on the discovery, development, production and commercialization of innovative therapeutics for rare diseases with significant unmet needs. We are the first and only company to gain FDA approval of a protein produced through plant cell-based expression in suspension. ProCellEx®, our unique, proprietary plant cell-based protein expression system represents a new method for developing recombinant proteins in an industrial-scale manner. Our corporate strategy includes development of treatments for rare and orphan diseases. To execute on our strategy, we are turning our focus to new, early-stage product candidates that treat indications for which there are high unmet needs in terms of efficacy and safety, including renal diseases. We believe our treatments of interest will address both genetic and non-genetic diseases.

In its own words, from its 10-K, filed Mar 18, 2026.

Protalix BioTherapeutics against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +27% against the peers' median +27%. Operating margin: 23.5% against the peers' median 35.8%.

CompanyQuarterRevenueY/YOp. margin
PLX Protalix BioTherapeuticsQ2 2026$19.9M+27%23.5%
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Protalix BioTherapeutics 10-Q on SEC EDGAR · CIK 1006281 · Biological Products, (No Diagnostic Substances)

13F: who owns PLX and who is buying

Largest holders of PLX (13F)Largest holders of PLX (13F)BlackRock$9.4MRenaissance Technologies LLC$2.6MState Street$2.3MGeode Capital Management, LLC$2.3MNorthern Trust$2.1MVanguard Portfolio Management LLC$1.2MStratos Wealth Partners$1.2MDimensional Fund Advisors LP$1.1MGoldman Sachs Group$1.1MMarshall Wace, LLP$1.1M
Funds' net buying of PLX by quarter (13F)Funds' net buying of PLX by quarter (13F)−$55K2024-09$381K2024-12$9.5M2025-03−$6.2M2025-06$4.5M2025-09$1.8M2025-12$4.4M2026-03−$5.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PLX

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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