TG Therapeutics (TGTX) FY2022 results: revenue $3 million, down 58.4% on the year

TG Therapeutics, Inc. (TGTX) reported revenue of $3 million for fiscal 2022, the year ended 31 December 2022, down 58.4% on the year before. Net income was -$224 million, and diluted earnings per share $-1.65. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.

Revenue

$3 million

-58.4% on the year

FY2016FY2022

Operating margin

-7839.0%

-5154.3% a year earlier

FY2016FY2022

Net income

-$224 million

FY2016FY2022

Diluted EPS

-$1.65

FY2016FY2022

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	2.8	6.7	0.2	-58.4%
Cost of revenue	0.3	0.8	n/a	-66.5%
Gross profit	2.5	5.9	n/a	-57.3%
Gross margin	90.5%	88.2%	n/a
Research and development	125	223	166	-43.7%
Selling, general and administrative	95.5	128	108	-25.5%
Operating income	-218	-345	-274
Operating margin	-7839.0%	-5154.3%	-179996.1%
Interest expense	10.2	5.6	6.3	+80.8%
Pre-tax income	-224	-348	-0.3
Income tax	0.0	0.0	0.0
Net income	-224	-348	-279
Net margin	-8036.3%	-5204.1%	-183803.3%
Diluted EPS	-$1.65	-$2.63	-$2.42

$ 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	-176	-296	-215
Capital expenditure	0.0	0.4	0.4	-96.5%
Free cash flow	-176	-296	-215
Free cash flow margin	-6326.2%	-4425.7%	-141357.9%
Cash from investing	-20.0	-0.3	-24.5
Cash from financing	-0.4	41.4	680
Depreciation and amortisation	0.3	0.3	0.4	+7.4%
Share-based compensation	44.7	61.3	80.3	-27.1%
Diluted shares, weighted	135m	132m	115m	+2.4%
Shares outstanding at period end	146m	143m	141m	+2.2%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	58.6	237	519	-75.3%
Debt	71.1	67.8	29.9	+5.0%
Operating lease liabilities	10.3	9.8	10.4	+5.0%
Other liabilities	53.5	64.9	66.0	-17.5%
Total liabilities and equity	194	380	626	-49.0%
Fixed assets	0.3	0.6	0.5	-48.8%
Goodwill	0.8	0.8	0.8	0.0%
Investments	71.8	51.4	52.0	+39.6%
Cash and equivalents	102	299	553	-65.8%
Receivables	0.0	1.4	n/a
Inventory	0.0	n/a	n/a
Other assets	18.4	26.5	18.9	-30.7%
Total assets	194	380	626	-49.0%

10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.