TGTX earnings analysis
What we found in TGTX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
TG Therapeutics (TGTX) reported strong Q1 2026 earnings with revenues of $204.9 million, reflecting a 69% year-over-year increase. However, the EPS of $0.18 fell short of expectations, leading to a significant EPS surprise of -33.3%. After robust BRIUMVI sales, the company raised its full-year revenue guidance to $925 million, indicating strong demand for its products.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeds Estimates
- Q1 2026 revenue was $204.9 million, surpassing the estimate of $200.8 million, a growth of 69% from $120.9 million in Q1 2025.
- BRIUMVI Sales Surge
- Sales of BRIUMVI increased to $194.8 million, a 63% growth compared to the same quarter last year.
- Increased Full-Year Revenue Guidance
- The full-year revenue guidance was raised from $825-850 million to $925 million, reflecting strong market demand.
- Successful Debt Restructuring
- Implemented a new five-year, $750 million senior secured credit facility, significantly improving liquidity.
- Improved Operating Cash Flow
- Cash used in operating activities decreased to $17.9 million in Q1 2026 from $28.7 million in Q1 2025, a $10.8 million improvement.
- Significant Free Cash Flow Positive
- Reported a free cash flow of $390.8 million in Q1 2026, compared to a negative flow of $6.1 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Missed EPS Estimates
- Q1 2026 EPS was $0.18, falling short of the $0.27 estimate, creating potential investor concern.
- Rising Operating Expenses
- Total costs and expenses increased to $170.1 million from $112.2 million year over year, driven by higher SG&A and R&D expenses.
- Regulatory Risks for BRIUMVI
- Concerns about achieving broad market acceptance and potential post-marketing study requirements may impact future sales.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.18
What they said about what is next.
Full-year 2026 revenue guidance raised to approximately $925 million from $825–850 million.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- TG Therapeutics is a commercial-stage biotech centered on B‑cell diseases with FDA‑approved BRIUMVI (ublituximab-xiiy) for relapsing forms of MS (FDA approval Dec 2022) and a U.S. commercial launch in January 2023. The…
- 10-Q · November 5, 2025
- TG Therapeutics reported strong Q3 2025 top-line and GAAP earnings driven by product sales and a large non‑cash tax benefit. Total revenue was $161.7M (up from $83.9M YoY) and diluted EPS was $2.43 (vs $0.02 in Q3…
- 10-Q · August 8, 2025
- TG Therapeutics reported strong top-line and profitability improvement in Q2 2025 with total revenue of $141,148 (in thousands) versus $73,466 in Q2 2024 and net income of $28,187 (in thousands) versus $6,879 in Q2…
- 10-K · March 3, 2025
- TG Therapeutics is a commercial-stage, B‑cell focused biopharma with an FDA‑approved product (BRIUMVI) launched in the U.S. on January 26, 2023 and ex‑U.S. commercialization via Neuraxpharm (first EU availability Feb…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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