Filing Flows › Protagonist Therapeutics (PTGX) › Q2 2026 › vs Q2 2025
Protagonist Therapeutics (PTGX) Q2 2026 vs Q2 2025 (year over year)
Protagonist Therapeutics's revenue rose $208M (38×) from $5.5M in Q2 2025 to $213M in Q2 2026. Operating margin 74.4% against -758.0% (+832.4 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 74.4% | -758.0% | +832.4 pts |
| Net margin | 76.3% | -627.0% | +703.2 pts |
| Free cash flow margin | 102.5% | -533.6% | +636.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $213M | $5.5M | $208M | 38× |
| Other income, net | $6.3M | $7.4M | −$1.1M | -15% |
| Operating profit | $159M | −$42.0M | $201M | — |
| Costs & expenses | $54.7M | $47.6M | $7.1M | +15% |
| Pre-tax earnings | $165M | −$34.6M | $200M | — |
| Research & development | $42.1M | $37.0M | $5.0M | +14% |
| General & admin | $12.6M | $10.6M | $2.1M | +20% |
| Net earnings | $163M | −$34.8M | $198M | — |
| Income tax | $2.3M | $172K | $2.1M | 13× |
| Depreciation & amortization | $397K | $304K | $93K | +31% |
| Share-based compensation | $14.0M | $10.9M | $3.1M | +29% |
| Working capital & other | $41.8M | −$5.2M | $47.0M | — |
| Operating cash flow | $219M | −$28.8M | $248M | — |
| Free cash flow (OCF − capex) | $219M | −$29.6M | $248M | — |
| Capital expenditures | $168K | $813K | −$645K | -79% |
Questions
How much did Protagonist Therapeutics's revenue grow year over year in Q2 2026?
Protagonist Therapeutics's revenue rose $208M (38×) from $5.5M in Q2 2025 to $213M in Q2 2026. Operating margin 74.4% against -758.0% (+832.4 pts).