TLX

MKT CAP:$4B

Telix Pharmaceuticals Limited

Market Cap

$4B

Healthcare·Biotechnology·🇦🇺 Australia·NASDAQ

Healthcare·Biotechnology·🇦🇺·NASDAQ

Stock Price

$10.19+$2.57 (+33.73%)

Apr 23, 2026

Company Details

Telix Pharmaceuticals Limited, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals for cancer and rare diseases in Australia, Belgium, Japan, Swit...

CEO

Christian Behrenbruch

IPO Date

Nov 14, 2024

Website

telixpharma.com

Key Metrics TTM

Revenue

$1.2B

+923.4% YoY

Net Income

-$4M

EPS (Diluted)

-$0.01

Free Cash Flow

-$44M

Revenue / Share

$3.62

Gross Margin

54.2%

Operating Margin

4.5%

Net Margin

-0.3%

FCF Margin

-3.6%

P/S

2.9x

P/E

—

Earnings Reports

FY 2025

Feb 19, 2026

$861M+53.9%EPS -$0.02

Q4 2025

Feb 19, 2026

$443MEPS -$0.02

Q2 2025

Jun 30, 2025

$424MEPS -$0.01

FY 2024

Feb 24, 2025

$559M+55.8%EPS $0.10

FY 2023

Dec 30, 2023

$359M+213.9%EPS $0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 15	$0	$0	-$41.4K
Q4 17	$34.8K	$34.8K	-$4M
Q2 18	$0	$0	-$7M
Q4 18	$139.3K	-$314.8K	-$12M
Q2 19	$1M	-$4M	-$12M
Q4 19	$1M	-$4M	-$17M
Q2 20	$1M	-$6M	-$14M
Q4 20	$3M	-$6M	-$21M
Q2 21	$2M	-$8M	-$23M
Q4 21	$3M	-$13M	-$36M
Q2 22	$17M	-$11M	-$45M
Q4 22	$97M	$32M	-$7M
Q2 23	$158M	$65M	$22M
Q4 23	$201M	$160M	$14M
Q2 25	$424M	$206M	$11M
Q4 25	$443M	$234M	$7M

Valuation

Quarter	P/S	P/E
Q4 15	—	—
Q4 17	141475.9x	—
Q2 18	141475.9x	—
Q4 18	28311.4x	—
Q2 19	3348.3x	—
Q4 19	1875.5x	—
Q2 20	1305.4x	—
Q4 20	793.5x	—
Q2 21	705.0x	—
Q4 21	538.8x	—
Q2 22	195.8x	—
Q4 22	41.2x	—
Q2 23	17.9x	—
Q4 23	10.4x	—
Q2 25	6.2x	—
Q4 25	2.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 15	$0	$0
Q4 17	-$3M	-$3M
Q2 18	-$5M	-$5M
Q4 18	-$10M	-$10M
Q2 19	-$11M	-$11M
Q4 19	-$6M	-$6M
Q2 20	-$13M	-$13M
Q4 20	$15M	$15M
Q2 21	-$20M	-$21M
Q4 21	-$22M	-$23M
Q2 22	-$43M	-$45M
Q4 22	-$3M	-$6M
Q2 23	$9M	$7M
Q4 23	$8M	$3M
Q2 25	$19M	$12M
Q4 25	-$38M	-$66M

Capital Expenditures

Quarter	CapEx
Q4 15	$0
Q4 17	$4.0K
Q2 18	$50.4K
Q4 18	$50.4K
Q2 19	$42.8K
Q4 19	$244.9K
Q2 20	$142.8K
Q4 20	$34.3K
Q2 21	$234.9K
Q4 21	$721.3K
Q2 22	$2M
Q4 22	$3M
Q2 23	$2M
Q4 23	$5M
Q2 25	$7M
Q4 25	$29M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 15	—	-76.7%
Q4 17	—	+904.3%
Q2 18	—	+2004.4%
Q4 18	—	+29870.8%
Q2 19	—	+30938.6%
Q4 19	+3318.1%	+415.6%
Q2 20	—	+107.6%
Q4 20	+1749.2%	+88.4%
Q2 21	+60.1%	+91.7%
Q4 21	+181.0%	+112.1%
Q2 22	+1396.4%	+303.1%
Q4 22	+3672.9%	+345.0%
Q2 23	+7488.8%	+448.8%
Q4 23	+5911.8%	+379.2%
Q2 25	+2366.5%	+559.5%
Q4 25	+356.0%	+318.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 15	$0	—
Q4 17	$77.9K	223.5%
Q2 18	$206.4K	—
Q4 18	$302.0K	216.9%
Q2 19	$467.0K	36.0%
Q4 19	$439.2K	36.9%
Q2 20	$1M	97.0%
Q4 20	$562.0K	21.8%
Q2 21	$1M	71.8%
Q4 21	-$547.7K	-16.4%
Q2 22	$2M	9.4%
Q4 22	$4M	4.3%
Q2 23	$936.2K	0.6%
Q4 23	$5M	2.7%
Q2 25	$13M	3.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 15	$22.1K	$19.3K	—	—
Q4 17	$2M	$1M	$103.2K	—
Q2 18	$5M	$1M	$39.6K	—
Q4 18	$9M	$2M	$11.8K	—
Q2 19	$6M	$1M	$132.1K	—
Q4 19	$10M	$3M	$90.7K	—
Q2 20	$6M	$2M	$123.5K	—
Q4 20	$10M	$4M	$734.8K	—
Q2 21	$10M	$3M	$2M	—
Q4 21	$15M	$5M	$3M	—
Q2 22	$18M	$9M	$7M	—
Q4 22	$24M	$35M	$20M	—
Q2 23	$22M	$17M	$4M	—
Q4 23	$70M	$31M	$19M	—
Q2 25	$89M	$52M	$53M	—
Q4 25	$96M	—	—	$131M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 18	$19M	$11M	$30M
Q4 18	$18M	$0	$18M
Q2 19	$7M	$0	$7M
Q4 19	$32M	$0	$32M
Q2 20	$17M	$0	$17M
Q4 20	$56M	$0	$56M
Q2 21	$35M	$0	$35M
Q4 21	$16M	$0	$16M
Q2 22	$88M	$0	$88M
Q4 22	$83M	$0	$83M
Q2 23	$94M	$0	$94M
Q4 23	$88M	$0	$88M
Q2 24	$85M	$0	$85M
Q4 24	$507M	$0	$507M
Q2 25	$207M	$0	$207M
Q4 25	$152M	$0	$152M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 15	83M	0.0%	+115.5%
Q4 17	254M	+204.2%	+555.7%
Q2 18	197M	-22.1%	+410.6%
Q4 18	207M	+4.7%	+148.2%
Q2 19	218M	+5.6%	+162.1%
Q4 19	243M	+11.5%	-4.0%
Q2 20	253M	+4.1%	+28.4%
Q4 20	260M	+2.6%	+25.7%
Q2 21	281M	+8.1%	+28.7%
Q4 21	283M	+0.7%	+16.3%
Q2 22	307M	+8.6%	+21.2%
Q4 22	316M	+2.9%	+21.7%
Q2 23	318M	+0.4%	+13.0%
Q4 23	324M	+1.9%	+14.4%
Q2 25	337M	+4.2%	+9.7%
Q4 25	339M	+0.5%	+7.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 15	—	—
Q4 17	—	—
Q2 18	—	—
Q4 18	—	—
Q2 19	—	—
Q4 19	—	—
Q2 20	—	—
Q4 20	—	—
Q2 21	—	—
Q4 21	—	—
Q2 22	—	—
Q4 22	—	—
Q2 23	—	—
Q4 23	—	—
Q2 25	$2.1K	200K
Q4 25	$2.2K	200K

Revenue / Employee