TG Therapeutics (TGTX) FY2023 results: revenue $234 million, up 8290.0% on the year

TG Therapeutics, Inc. (TGTX) reported revenue of $234 million for fiscal 2023, the year ended 31 December 2023, up 8290.0% on the year before. Net income was $13 million, and diluted earnings per share $0.09. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.

Revenue

$234 million

+8,290.0% on the year

FY2016FY2023

Operating margin

8.8%

-7839.0% a year earlier

FY2016FY2023

Net income

$13 million

FY2016FY2023

Diluted EPS

$0.09

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	234	2.8	6.7	+8,290.0%
Cost of revenue	14.1	0.3	0.8	+5,232.5%
Gross profit	220	2.5	5.9	+8,611.5%
Gross margin	94.0%	90.5%	88.2%
Research and development	76.2	125	223	-39.2%
Selling, general and administrative	123	95.5	128	+28.5%
Operating income	20.6	-218	-345
Operating margin	8.8%	-7839.0%	-5154.3%
Interest expense	12.6	10.2	5.6	+23.8%
Pre-tax income	13.1	-224	-348
Income tax	0.4	0.0	0.0
Effective tax rate	3.0%	n/a	n/a
Net income	12.7	-224	-348
Net margin	5.4%	-8036.3%	-5204.1%
Diluted EPS	$0.09	-$1.65	-$2.63

$ 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	FY2023	FY2022	FY2021	On the year
Operating cash flow	-31.4	-176	-296
Capital expenditure	0.0	0.0	0.4
Free cash flow	-31.4	-176	-296
Free cash flow margin	-13.4%	-6326.2%	-4425.7%
Cash from investing	-50.7	-20.0	-0.3
Cash from financing	72.7	-0.4	41.4
Depreciation and amortisation	0.2	0.3	0.3	-30.4%
Share-based compensation	37.9	44.7	61.3	-15.1%
Diluted shares, weighted	149m	135m	132m	+9.7%
Shares outstanding at period end	151m	146m	143m	+3.4%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	161	58.6	237	+174.0%
Debt	100	71.1	67.8	+41.1%
Operating lease liabilities	9.2	10.3	9.8	-10.8%
Other liabilities	59.5	53.5	64.9	+11.1%
Total liabilities and equity	330	194	380	+70.3%
Fixed assets	0.1	0.3	0.6	-69.1%
Goodwill	0.8	0.8	0.8	0.0%
Investments	125	71.8	51.4	+73.6%
Cash and equivalents	92.9	102	299	-9.2%
Receivables	51.1	0.0	1.4
Inventory	39.8	0.0	n/a
Other assets	20.3	18.4	26.5	+10.3%
Total assets	330	194	380	+70.3%

10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.