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TherapeuticsMD (TXMD) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · TherapeuticsMD (TXMD) Q2 2026 earnings results →

Q2 2026 Revenue down 9% year over year to $869K · 18¢ of every $1 of revenue kept as net profit · operating margin -93.9%

TherapeuticsMD made $869K in Q2 2026 (-9% Y/Y). Operating margin -93.9%, net earnings $155K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.

Revenue$869K
Year over year-9%
Operating margin-93.9%
Net earnings$155K
Operating cash flow$779K

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $869K in Q2 2026, down 9% year over year and up 20% from the previous quarter.

Operating costs exceeded revenue by $816K, an operating margin of -93.9%. Total costs grew 2% against a revenue fall of 9%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $155K, down 72% year over year. The effective tax rate was 5.5%. Non-operating items added $1.0M, 598% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $779K (up 104% year over year), 503% of net earnings. Non-cash charges added back $95K of depreciation and amortization and $4K of share-based compensation. Working capital and other items added $525K.

Quarterly history

TherapeuticsMD revenue by quarterTherapeuticsMD revenue by quarter$667KQ4 2024$393KQ1 2025$952KQ2 2025$784KQ3 2025$893KQ4 2025$724KQ1 2026$869KQ2 2026
TherapeuticsMD net earnings by quarterTherapeuticsMD net earnings by quarter$252KQ4 2024−$653KQ1 2025$551KQ2 2025$152KQ3 2025−$619KQ4 2025$95KQ1 2026$155KQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 11, 2026$869K-9%-93.9%$155K$779K
Q1 202610-QMay 12, 2026$724K+84%-99.9%$95K$944K
Q4 202510-KMar 30, 2026$893K+34%-173.8%−$619K$375K
Q3 202510-QNov 12, 2025$784K+43%-109.9%$152K$999K
Q2 202510-QAug 12, 2025$952K+307%-73.0%$551K$381K
Q1 202510-QMay 13, 2025$393K+26%-221.6%−$653K$699K
Q4 202410-KMar 27, 2025$667K+33%-97.8%$252K$17K

Charts

TherapeuticsMD: revenue growth, year over year and quarter over quarterTherapeuticsMD: revenue growth, year over year and quarter over quarterY/YQ/Q+33%Q4 2024+26%-41%Q1 2025+307%+142%Q2 2025+43%-18%Q3 2025+34%+14%Q4 2025+84%-19%Q1 2026-9%+20%Q2 2026
Latest (Q2 2026): Y/Y -9%, Q/Q +20%.
TherapeuticsMD: where the cash came from (+) and went (−), TTM to Q2 2026TherapeuticsMD: where the cash came from (+) and went (−), TTM to Q2 2026Cash drawn (+) / kept (−)−$3.1MOperating cash flow$3.1MNot reconciled$23K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
TherapeuticsMD: profit against cash, quarter by quarterTherapeuticsMD: profit against cash, quarter by quarterNet incomeOperating cash flow−$609K−$71KQ3 2024$252K$17KQ4 2024−$653K$699KQ1 2025$551K$381KQ2 2025$152K$999KQ3 2025−$619K$375KQ4 2025$95K$944KQ1 2026$155K$779KQ2 2026
Latest (Q2 2026): Net income $155K, Operating cash flow $779K.
TherapeuticsMD: diluted shares by fiscal yearTherapeuticsMD: diluted shares by fiscal year276MFY20208MFY20219MFY20220MFY202312MFY202412MFY2025
-95.8% since FY2020: buybacks shrank the count.
TherapeuticsMD in its industry: growth against margin (225 companies, SIC 2834)TherapeuticsMD in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDAGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMTXMD (-9%, -94%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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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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🔍Earnings qualityinteractive

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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 TherapeuticsMD

Throughout this Annual Report on Form 10-K (“2025 10-K Report”), the terms “we,” “us,” “our,” “TherapeuticsMD,” “the Company,” or “our company” refer to TherapeuticsMD, Inc., a Nevada corporation, and unless specified otherwise, include our wholly owned subsidiaries vitaMedMD, LLC, a Delaware limited liability company (“vitaMed”), and BocaGreenMD, Inc., a Nevada corporation (“BocaGreen”). TherapeuticsMD is a pharmaceutical royalty company that owns or has rights to trademarks, service marks, or trade names that were previously used in connection with the operation of its business, or are now licensed by another party, including TherapeuticsMD®, vitaMedMD®, BocaGreenMD®, BIJUVA®, and IMVEXXY®, which are protected under applicable intellectual property laws and are the property of the Company.

In its own words, from its 10-K, filed Mar 30, 2026.

TherapeuticsMD against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -9% against the peers' median +7%. Operating margin: -93.9% against the peers' median 20.4%.

CompanyQuarterRevenueY/YOp. margin
TXMD TherapeuticsMDQ2 2026$869K-9%-93.9%
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: TherapeuticsMD 10-Q on SEC EDGAR · CIK 25743 · Pharmaceutical Preparations

13F: who owns TXMD and who is buying

Largest holders of TXMD (13F)Largest holders of TXMD (13F)Rubric Capital Management LP$2.6MClearline Capital LP$1.4MVanguard Capital Management LLC$782KTejara Capital$761KADAR1 Capital Management, LLC$757KVanguard Group$647KRenaissance Technologies LLC$324KMorgan Stanley$286KBlackRock$254KGeode Capital Management, LLC$234K
Funds' net buying of TXMD by quarter (13F)Funds' net buying of TXMD by quarter (13F)$3772024-09$2K2024-12−$171K2025-03−$102K2025-06$51K2025-09$132K2025-12$1.1M2026-03−$615K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on TXMD

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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