Protagonist Therapeutics (PTGX) FY2022 results: revenue $27 million, down 2.8% on the year

Protagonist Therapeutics, Inc. (PTGX) reported revenue of $27 million for fiscal 2022, the year ended 31 December 2022, down 2.8% on the year before. Net income was -$127 million, and diluted earnings per share $-2.60. The figures are the company's own, from the 10-K it filed with the SEC on 15 March 2023.

Revenue

$27 million

-2.8% on the year

FY2017FY2022

Operating margin

-494.2%

-460.0% a year earlier

FY2017FY2022

Net income

-$127 million

FY2017FY2022

Diluted EPS

-$2.60

FY2017FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	26.6	27.4	28.6	-2.8%
Research and development	126	126	74.5	+0.2%
Operating income	-131	-126	-64.5
Operating margin	-494.2%	-460.0%	-225.4%
Interest expense	n/a	n/a	0.6
Pre-tax income	-127	-126	-64.8
Income tax	0.0	0.0	1.3
Net income	-127	-126	-66.2
Net margin	-479.3%	-458.9%	-231.1%
Diluted EPS	-$2.60	-$2.71	-$1.92

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	-108	-108	-72.5
Capital expenditure	0.8	1.1	0.5	-27.8%
Free cash flow	-109	-109	-73.0
Free cash flow margin	-409.8%	-398.3%	-254.8%
Cash from investing	91.5	-15.9	-91.0
Cash from financing	18.8	130	248	-85.5%
Depreciation and amortisation	1.0	0.8	0.9	+27.2%
Share-based compensation	24.2	16.4	7.9	+47.6%
Diluted shares, weighted	49m	46m	34m	+5.9%
Shares outstanding at period end	49m	48m	44m	+3.1%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	216	300	280	-28.1%
Debt	0.0	0.0	0.0
Operating lease liabilities	1.1	3.7	4.5	-68.8%
Other liabilities	31.2	44.0	40.4	-29.2%
Total liabilities and equity	248	348	324	-28.7%
Fixed assets	1.6	1.8	1.5	-13.0%
Investments	112	203	190	-45.1%
Cash and equivalents	126	124	117	+1.7%
Other assets	9.0	19.0	15.2	-52.6%
Total assets	248	348	324	-28.7%

10-K for the year ended 31 December 2022, filed 15 March 2023: the filing.