Filing Flows › Protalix BioTherapeutics (PLX) › Q1 2026 › vs Q4 2025
Protalix BioTherapeutics (PLX) Q1 2026 vs Q4 2025 (quarter over quarter)
Protalix BioTherapeutics's revenue rose $24.6M (+270%) from $9.1M in Q4 2025 to $33.8M in Q1 2026. The biggest changes: LICENSE AND R&D SERVICES +$25.9M (62×); GOODS −$1.3M (-15%). Operating margin 62.7% against -51.1% (+113.7 pts).
Protalix BioTherapeutics, Q1 2026: revenue $33.8M (+234% year over year), operating margin 62.7%, net earnings $18.3M, operating cash flow $22.0M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 62.7% | -51.1% | +113.7 pts |
| Net margin | 54.3% | -60.3% | +114.6 pts |
| Free cash flow margin | 63.0% | 17.8% | +45.2 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| LICENSE AND R&D SERVICES | $26.3M | $428K | $25.9M | 62× |
| GOODS | $7.4M | $8.7M | −$1.3M | -15% |
| Revenue | $33.8M | $9.1M | $24.6M | +270% |
| Operating profit | $21.1M | −$4.7M | $25.8M | — |
| Costs & expenses | $12.6M | $13.8M | −$1.2M | -9% |
| Pre-tax earnings | $21.1M | −$4.8M | $25.9M | — |
| Cost of revenue | $4.1M | $4.6M | −$492K | -11% |
| Research & development | $5.4M | $5.6M | −$209K | -4% |
| SG&A | $3.1M | $3.5M | −$475K | -13% |
| Net earnings | $18.3M | −$5.5M | $23.8M | — |
| Income tax | $2.8M | $728K | $2.1M | +288% |
| Depreciation | $404K | $387K | $17K | +4% |
| Share-based compensation | $532K | $732K | −$200K | -27% |
| Working capital & other | $2.8M | $6.4M | −$3.6M | -57% |
| Operating cash flow | $22.0M | $2.0M | $20.0M | +985% |
| Free cash flow (OCF − capex) | $21.3M | $1.6M | $19.6M | 13× |
| Capital expenditures | $761K | $403K | $358K | +89% |
Questions
How much did Protalix BioTherapeutics's revenue grow quarter over quarter in Q1 2026?
Protalix BioTherapeutics's revenue rose $24.6M (+270%) from $9.1M in Q4 2025 to $33.8M in Q1 2026.
What drove Protalix BioTherapeutics's revenue change in Q1 2026?
LICENSE AND R&D SERVICES +$25.9M (62×); GOODS −$1.3M (-15%).