Filing Flows › Protagonist Therapeutics (PTGX) › Q2 2026 › vs Q1 2026
Protagonist Therapeutics (PTGX) Q2 2026 vs Q1 2026 (quarter over quarter)
Protagonist Therapeutics's revenue rose $157M (+279%) from $56.4M in Q1 2026 to $213M in Q2 2026. Operating margin 74.4% against -6.5% (+80.8 pts).
Protagonist Therapeutics, Q2 2026: revenue $213M (38× year over year), operating margin 74.4%, net earnings $163M, operating cash flow $219M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 74.4% | -6.5% | +80.8 pts |
| Net margin | 76.3% | 6.7% | +69.6 pts |
| Free cash flow margin | 102.5% | -87.2% | +189.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $213M | $56.4M | $157M | +279% |
| Other income, net | $6.3M | $5.9M | $419K | +7% |
| Operating profit | $159M | −$3.6M | $162M | — |
| Costs & expenses | $54.7M | $60.0M | −$5.3M | -9% |
| Pre-tax earnings | $165M | $2.3M | $163M | 72× |
| Research & development | $42.1M | $46.7M | −$4.7M | -10% |
| General & admin | $12.6M | $13.3M | −$629K | -5% |
| Net earnings | $163M | $3.8M | $159M | 43× |
| Income tax | $2.3M | −$1.5M | $3.8M | — |
| Depreciation & amortization | $397K | $407K | −$10K | -2% |
| Share-based compensation | $14.0M | $14.5M | −$482K | -3% |
| Working capital & other | $41.8M | −$67.7M | $109M | — |
| Operating cash flow | $219M | −$48.9M | $268M | — |
| Free cash flow (OCF − capex) | $219M | −$49.2M | $268M | — |
| Capital expenditures | $168K | $215K | −$47K | -22% |
Questions
How much did Protagonist Therapeutics's revenue grow quarter over quarter in Q2 2026?
Protagonist Therapeutics's revenue rose $157M (+279%) from $56.4M in Q1 2026 to $213M in Q2 2026. Operating margin 74.4% against -6.5% (+80.8 pts).