TG Therapeutics (TGTX) investor relations material

Executive summary

• Achieved $616.3 million in global revenue for 2025, with $594.1 million from U.S. BRIUMVI net sales and $183 million in Q4, reflecting 92% year-over-year and 20% sequential growth.

• BRIUMVI demonstrated strong physician and patient confidence, supported by six-year open-label extension and ULTIMATE I & II trial data showing nearly 90% of patients free from 24-week confirmed disability progression.

• Advanced R&D with completed enrollment in the phase III ENHANCE study and 75% enrollment in the subcutaneous BRIUMVI phase III trial, targeting pivotal data later this year or early next year.

• Expanded BRIUMVI commercialization globally, with approvals in the EU, UK, Switzerland, Australia, Kuwait, and UAE.

• Completed $100 million share repurchase program and authorized an additional $100 million buyback.

Financial highlights

• U.S. BRIUMVI net product revenue was $182.7 million in Q4 and $594.1 million for the full year; total global revenue reached $616.3 million.

• Operating income for 2025 was $123.3 million; net income was $447.2 million ($2.77 per diluted share), including a $339.8 million non-recurring income tax benefit.

• Gross margin for Q4 was slightly below typical due to timing of ex-U.S. sales and a one-time inventory reserve.

• Ended 2025 with $199.5 million in cash, cash equivalents, and investment securities.

• R&D expenses were $160.2 million and SG&A expenses were $232 million for 2025.

Outlook and guidance

• Reaffirmed 2026 U.S. BRIUMVI net revenue guidance of $825–$850 million and total global revenue of $875–$900 million.

• Q1 2026 U.S. revenue expected to grow sequentially to $185–$190 million, with ex-U.S. revenue projected at $5–$10 million.

• Full-year 2026 operating expenses expected to be ~$350 million, plus ~$100 million for subcutaneous BRIUMVI manufacturing and startup activities.

• Continued positive cash flow anticipated in 2026 and beyond.