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…
Earnings analysis · 10-Q
TGTX earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.18
What stood out
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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.
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BRIUMVI Sales Surge
Sales of BRIUMVI increased to $194.8 million, a 63% growth compared to the same quarter last year.
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Increased Full-Year Revenue Guidance
The full-year revenue guidance was raised from $825-850 million to $925 million, reflecting strong market demand.
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Successful Debt Restructuring
Implemented a new five-year, $750 million senior secured credit facility, significantly improving liquidity.
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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.
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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.
What to watch
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Missed EPS Estimates
Q1 2026 EPS was $0.18, falling short of the $0.27 estimate, creating potential investor concern.
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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.
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Regulatory Risks for BRIUMVI
Concerns about achieving broad market acceptance and potential post-marketing study requirements may impact future sales.
Management's outlook
Full-year 2026 revenue guidance raised to approximately $925 million from $825–850 million.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.