TGTX

MKT CAP:$6B

TG Therapeutics, Inc.

Market Cap

$6B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$38.31+$9.03 (+30.84%)

Apr 22, 2026

Company Details

TG Therapeutics, Inc., a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its therapeutic product candidates incl...

CEO

Michael S. Weiss

IPO Date

May 3, 2010

Website

www.tgtherapeutics.com

Key Metrics TTM

Revenue

$616M

+87.3% YoY

Net Income

$447M

EPS (Diluted)

$2.77

Free Cash Flow

-$25M

Revenue / Share

$3.87

Gross Margin

83.6%

Operating Margin

20.0%

Net Margin

72.6%

FCF Margin

-4.1%

P/S

9.5x

P/E

13.1x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 27, 2026

$616M+87.3%EPS $2.77

Q4 2025

Feb 27, 2026

$193M+78.0%EPS $0.14

Q3 2025

Nov 5, 2025

$162M+92.8%EPS $2.43

Q2 2025

Aug 8, 2025

$141M+92.1%EPS $0.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$2M	$2M	-$67M
Q2 22	$594.0K	$571.0K	-$39M
Q3 22	$94.0K	$92.0K	-$35M
Q4 22	$80.0K	$77.0K	-$52M
Q1 23	$8M	$7M	-$37M
Q2 23	$16M	$14M	-$45M
Q3 23	$166M	$162M	$115M
Q4 23	$44M	$36M	-$12M
Q1 24	$63M	$58M	-$9M
Q2 24	$73M	$65M	$9M
Q3 24	$84M	$75M	$12M
Q4 24	$108M	$93M	$30M
Q1 25	$121M	$105M	$9M
Q2 25	$141M	$122M	$35M
Q3 25	$162M	$134M	$29M
Q4 25	$193M	$154M	$50M

Valuation

Quarter	P/S	P/E
Q1 22	740.8x	—
Q2 22	842.0x	—
Q3 22	1166.4x	—
Q4 22	2105.3x	—
Q1 23	683.8x	—
Q2 23	243.7x	—
Q3 23	30.9x	—
Q4 23	25.1x	462.5x
Q1 24	20.3x	142.3x
Q2 24	16.9x	61.3x
Q3 24	22.1x	—
Q4 24	17.8x	250.7x
Q1 25	15.2x	149.7x
Q2 25	12.9x	96.9x
Q3 25	11.0x	13.1x
Q4 25	9.5x	13.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$69M	-$69M
Q2 22	-$49M	-$49M
Q3 22	-$34M	-$34M
Q4 22	-$24M	-$24M
Q1 23	-$60M	-$60M
Q2 23	-$42M	-$42M
Q3 23	$84M	$84M
Q4 23	-$13M	-$13M
Q1 24	-$8M	-$8M
Q2 24	$6M	$6M
Q3 24	-$12M	-$12M
Q4 24	-$26M	-$26M
Q1 25	-$29M	-$29M
Q2 25	$7M	$7M
Q3 25	-$23M	-$23M
Q4 25	$20M	$20M

Capital Expenditures

Quarter	CapEx
Q1 22	$7.0K
Q2 22	$0
Q3 22	$4.0K
Q4 22	$3.0K
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$24.0K
Q4 24	$21.0K
Q1 25	$25.0K
Q2 25	$42.0K
Q3 25	$80.0K
Q4 25	$67.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+154.2%	-23.5%
Q2 22	-61.6%	-50.0%
Q3 22	-95.4%	-59.8%
Q4 22	-96.6%	-45.3%
Q1 23	+287.1%	-35.0%
Q2 23	+2606.1%	+53.7%
Q3 23	+176298.9%	+45.6%
Q4 23	+54863.8%	+8.3%
Q1 24	+713.5%	+62.4%
Q2 24	+357.0%	+6.4%
Q3 24	-49.4%	+40.0%
Q4 24	+146.0%	+38.6%
Q1 25	+90.4%	+54.3%
Q2 25	+92.1%	+64.4%
Q3 25	+92.8%	+85.2%
Q4 25	+78.0%	+81.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	105.2%
Q2 22	-$975.0K	-164.1%
Q3 22	$7M	7434.0%
Q4 22	$11M	13813.7%
Q1 23	$7M	87.4%
Q2 23	$13M	78.0%
Q3 23	$9M	5.5%
Q4 23	$9M	21.3%
Q1 24	$9M	14.7%
Q2 24	$9M	12.9%
Q3 24	$12M	14.0%
Q4 24	$12M	11.0%
Q1 25	$15M	12.4%
Q2 25	$16M	11.6%
Q3 25	$18M	10.9%
Q4 25	$16M	8.1%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$48M	$21M	—
Q2 22	$27M	$13M	—
Q3 22	$21M	$14M	—
Q4 22	$30M	$23M	—
Q1 23	$16M	$28M	—
Q2 23	$22M	$36M	—
Q3 23	$15M	$33M	—
Q4 23	$17M	$34M	—
Q1 24	$33M	$35M	—
Q2 24	$18M	$39M	—
Q3 24	$20M	$42M	—
Q4 24	$24M	$39M	—
Q1 25	$46M	$50M	—
Q2 25	$32M	$56M	—
Q3 25	$41M	$63M	—
Q4 25	$41M	—	$63M

Revenue Segments

Quarter	License revenue	Product revenue, net	License	Product	License Revenue	Milestone	Other Revenue	Royalty
Q1 22	$38.0K	$2M	—	—	—	—	—	—
Q2 22	$38.0K	$556.0K	—	—	—	—	—	—
Q3 22	$38.0K	$56.0K	—	—	—	—	—	—
Q4 22	$38.0K	$42.0K	—	—	—	—	—	—
Q1 23	$38.0K	$8M	—	—	—	—	—	—
Q2 23	$38.0K	$16M	—	—	—	—	—	—
Q3 23	—	—	$141M	$25M	—	—	—	—
Q1 24	—	—	—	$50M	$38.0K	$13M	$415.0K	$33.0K
Q2 24	—	—	—	$73M	$38.0K	—	$682.0K	$150.0K
Q3 24	—	—	—	$83M	$38.0K	—	$315.0K	$229.0K
Q1 25	—	—	—	$120M	$38.0K	—	$558.0K	$605.0K
Q2 25	—	—	—	$139M	$2M	—	—	—
Q3 25	—	—	—	$159M	$2M	—	—	—
Q4 25	—	—	—	$189M	—	—	$3M	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$186M	$48M	$233M
Q2 22	$147M	$49M	$196M
Q3 22	$110M	$66M	$176M
Q4 22	$102M	$59M	$162M
Q1 23	$61M	$78M	$140M
Q2 23	$97M	$48M	$145M
Q3 23	$151M	$78M	$229M
Q4 23	$93M	$125M	$218M
Q1 24	$75M	$134M	$210M
Q2 24	$83M	$134M	$217M
Q3 24	$196M	$145M	$341M
Q4 24	$180M	$131M	$311M
Q1 25	$132M	$144M	$276M
Q2 25	$129M	$123M	$252M
Q3 25	$74M	$58M	$132M
Q4 25	$79M	$63M	$142M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	134M	+1.4%	+1.9%
Q2 22	138M	+2.5%	+4.3%
Q3 22	135M	-1.8%	+2.2%
Q4 22	137M	+1.3%	+3.4%
Q1 23	140M	+2.3%	+4.4%
Q2 23	142M	+0.8%	+2.7%
Q3 23	156M	+10.2%	+15.2%
Q4 23	143M	-8.2%	+4.4%
Q1 24	146M	+2.2%	+4.2%
Q2 24	159M	+9.0%	+12.7%
Q3 24	161M	+0.8%	+3.1%
Q4 24	160M	-0.3%	+12.0%
Q1 25	163M	+1.6%	+11.3%
Q2 25	163M	-0.1%	+2.0%
Q3 25	161M	-1.0%	+0.2%
Q4 25	159M	-1.0%	-0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$7.0K	286
Q2 22	$2.1K	286
Q3 22	$329	286
Q4 22	$354	226
Q1 23	$34.5K	226
Q2 23	$71.1K	226
Q3 23	$733.7K	226
Q4 23	$166.6K	264
Q1 24	$240.4K	264
Q2 24	$278.3K	264
Q3 24	$317.7K	264
Q4 24	$320.1K	338
Q1 25	$357.6K	338
Q2 25	$417.6K	338
Q3 25	$478.4K	338
Q4 25	$482.6K	399

Revenue / Employee