Telix Pharmaceuticals (TLX) H1 2026 earnings summary

Executive summary

• Revenue grew 22% year-over-year to $477.3M in H1 2026, driven by strong Precision Medicine sales, Illuccix and Gozellix launches, and international expansion.

• Net profit after tax was $38.3M, reversing a prior year loss, aided by a $40M upfront payment from a strategic collaboration with Regeneron.

• Adjusted EBITDA reached $52M, up 146% year-on-year, supporting increased R&D investment and pipeline advancement.

• Advanced multiple late-stage clinical programs, including pivotal Phase III trials and regulatory submissions for Pixclara and Pixlumi.

• Strategic collaboration with Regeneron and refinancing of $600M convertible bonds strengthened financial position.

Financial highlights

• H1 2026 revenue reached $477.3M, up 22% year-on-year; Precision Medicine revenue was $388.6M, up 27%.

• Gross margin improved to 55% (up 2% YoY); Precision Medicine gross margin at 65% (up 1%).

• Adjusted EBITDA was $52M, up 146% year-on-year; net profit after tax was $38.3M.

• R&D investment was $124M, representing 26% of revenue.

• Cash balance increased to $252M as of June 30, 2026, following successful convertible bond refinancing.

Outlook and guidance

• Full-year 2026 revenue guidance maintained at $950–970M, expected at the upper end, with potential upside from new product approvals.

• Precision Medicine business anticipated to grow over 20% year-on-year.

• R&D investment guidance updated to $230–270M, reflecting new development and collaborations.

• FY 2026 revenue and other income expected to exceed $1 billion.