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TG Therapeutics (TGTX) investor relations material
TG Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved $616.3 million in global revenue for 2025, with $594.1 million from U.S. BRIUMVI net sales and $182.7 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 phase III ENHANCE study (single-dose consolidation) and subcutaneous BRIUMVI program, targeting pivotal data in late 2025/early 2026 and potential launches in 2027 and 2028.
Expanded commercial footprint, increased prescriber engagement, and launched direct-to-patient initiatives, including a partnership with Christina Applegate for MS education and the "Next In MS" platform.
Expanded BRIUMVI commercialization globally, with approvals in the EU, UK, Switzerland, Australia, Kuwait, and UAE.
Financial highlights
Q4 2025 U.S. BRIUMVI net product revenue was $182.7 million; total Q4 net product revenue was $189.1 million, including $6.4 million ex-U.S.
Full-year 2025 global revenue: $616.3 million; U.S. BRIUMVI: $594.1 million; ex-U.S. product: $12.8 million; royalty/other: $9.4 million.
Operating income for 2025 reached $123.3 million; net income was $447.2 million ($2.77 per diluted share), including a $339.8 million non-recurring tax benefit.
Gross margin slightly below typical due to timing of ex-U.S. sales and a one-time inventory reserve.
R&D expenses: $160.2 million for 2025; SG&A expenses: $232.0 million for 2025.
Outlook and guidance
Reaffirmed 2026 U.S. BRIUMVI net revenue guidance of $825–$850 million; total global revenue guidance of $875–$900 million.
Q1 2026 U.S. revenue expected to grow sequentially to $185–$190 million, with ex-U.S. revenue of $5–$10 million.
Full-year 2026 operating expenses projected at $350 million (excluding non-cash comp), plus $100 million for subcutaneous BRIUMVI manufacturing and startup.
- Q2 BRIUMVI sales soared 350%+, driving raised guidance, profitability, and new capital moves.TGTX
Q2 20242 Feb 2026 - BRIUMVI's rapid adoption and pipeline expansion position it for CD20 market leadership.TGTX
Goldman Sachs 45th Annual Global Healthcare Conference1 Feb 2026 - Briumvi drives MS market growth, with new patents, pipeline expansion, and a subQ version in development.TGTX
Jefferies 2024 Global Healthcare Conference1 Feb 2026 - Briumvi Q3 revenue up 230% year-over-year; full-year guidance raised to $300–$305M.TGTX
Q3 202417 Jan 2026 - Briumvi's growth accelerates with new formulations, strong sales, and pivotal data expected in 2026.TGTX
44th Annual J.P. Morgan Healthcare Conference13 Jan 2026 - BRIUMVI outperforms expectations as SubQ and CAR-T pipeline advances, with new manufacturing underway.TGTX
7th Annual Evercore ISI HealthCONx Healthcare Conference12 Jan 2026 - Robust sales, innovation, and pipeline expansion drive leadership in the CD20 market.TGTX
43rd Annual J.P. Morgan Healthcare Conference 202510 Jan 2026 - BRIUMVI outperforms, expands direct-to-patient efforts, and eyes major growth with subQ launch.TGTX
Cantor Global Healthcare Conference 20255 Jan 2026 - Q1 BRIUMVI sales soared 137%, boosting guidance and signaling strong market momentum.TGTX
Q1 202524 Dec 2025
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