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TG Therapeutics (TGTX) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 5, 2026 · TG Therapeutics (TGTX) Q2 2026 earnings results →
Q2 2026 Revenue up 70% year over year to $240M · 3¢ of every $1 of revenue kept as net profit · operating margin 9.0%
TG Therapeutics made $240M in Q2 2026 (+70% Y/Y): Product $236M, License $4.5M. Operating margin 9.0%, net earnings $7.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $240.3M in Q2 2026, up 70% year over year and up 17% from the previous quarter. Product was the largest line at 98% of revenue. Product added $97.0M year over year (up 70%), 98% of the total change.
Operating profit was $21.7M, a 9.0% margin (down 15.7 points year over year). Operating profit fell $13.2M even though revenue rose $99.2M versus Q2 2025, so costs grew faster than sales. Total costs grew 106% against revenue growth of 70%. The fastest-growing cost line was Research & development (+200%). Net earnings were $7.8M, down 72% year over year. The effective tax rate was 24.0%.
Operating cash flow was $39.3M (up 428% year over year), 505% of net earnings. Non-cash charges added back $53K of depreciation and amortization and $27.9M of share-based compensation. Working capital and other items added $3.6M. Capital expenditures of $293K left free cash flow of $39.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 5, 2026 | $240M | +70% | 9.0% | $7.8M | $39.3M |
| Q1 2026 | 10-Q | May 6, 2026 | $205M | +70% | 17.0% | $19.8M | −$17.9M |
| Q4 2025 | 10-K | Feb 27, 2026 | $193M | +78% | 26.2% | $23.0M | $19.7M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $162M | +93% | 18.2% | $391M | −$23.2M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $141M | +92% | 24.7% | $28.2M | $7.4M |
| Q1 2025 | 10-Q | May 9, 2025 | $121M | +90% | 7.1% | $5.1M | −$28.7M |
| Q4 2024 | 10-K | Mar 3, 2025 | $108M | +146% | 27.7% | $23.3M | −$25.6M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About TG Therapeutics
TG Therapeutics is a fully integrated, commercial stage, biotechnology company focused on the acquisition, development and commercialization of novel treatments for B-cell diseases. In addition to a research pipeline, TG Therapeutics has received approval from the U.S. Food and Drug Administration (FDA) for BRIUMVI (ublituximab-xiiy) to treat adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, as well as approval from several regulatory agencies outside of the U.S. for BRIUMVI to treat adult patients with RMS who have active disease defined by clinical or imaging features. We also actively evaluate complementary products, technologies and companies for in-licensing, partnership, acquisition and/or investment opportunities.
In its own words, from its 10-K, filed Feb 27, 2026.
TG Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +70% against the peers' median +10%. Operating margin: 9.0% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TGTX TG Therapeutics | Q2 2026 | $240M | +70% | 9.0% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: TG Therapeutics 10-Q on SEC EDGAR · CIK 1001316 · Pharmaceutical Preparations
13F: who owns TGTX and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results