Filing Flows › Protagonist Therapeutics (PTGX) › Q3 2026
Protagonist Therapeutics (PTGX) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Protagonist Therapeutics (PTGX) reported revenue of $274M for the third quarter 2026 (Q3 2026), up 58-fold from a year earlier and +29% from the quarter before. Operating margin was 79.6%, net earnings $220M (80.2% of revenue).
Protagonist Therapeutics, Q3 2026: revenue $274M (58× year over year), operating margin 79.6%, net earnings $220M, operating cash flow −$23.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $274M | +29% | 58× |
| Operating profit | $218M | +38% | — |
| Net earnings | $220M | +35% | — |
| Operating cash flow | −$23.2M | -111% | — |
What changed
Revenue was $274.4M in Q3 2026, up 5724% year over year and up 29% from the previous quarter.
Operating profit was $218.3M, a 79.6% margin (up 1064.7 points year over year). Total costs grew 10% against revenue growth of 5724%. The fastest-growing cost line was General & admin (+23%). Net earnings were $220.0M. The effective tax rate was 2.9%.
Operating cash flow was −$23.2M. Non-cash charges added back $409K of depreciation and amortization and $14.4M of share-based compensation. Working capital and other items used $258.0M. Capital expenditures of $237K exceeded it, leaving free cash flow of −$23.5M.
Questions
What was Protagonist Therapeutics' revenue in the third quarter 2026?
Protagonist Therapeutics (PTGX) reported revenue of $274M for the third quarter 2026 (Q3 2026), up 58-fold from a year earlier and +29% from the quarter before.
Was Protagonist Therapeutics profitable in the third quarter 2026?
Operating profit was $218M (79.6% of revenue) and net earnings $220M.