TG Therapeutics (TGTX) FY2024 results: revenue $329 million, up 40.8% on the year

TG Therapeutics, Inc. (TGTX) reported revenue of $329 million for fiscal 2024, the year ended 31 December 2024, up 40.8% on the year before. Net income was $23 million, up 84.5%, and diluted earnings per share $0.15. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2025.

Revenue

$329 million

+40.8% on the year

FY2017FY2024

Operating margin

12.7%

8.8% a year earlier

FY2017FY2024

Net income

$23 million

+84.5% on the year

FY2017FY2024

Diluted EPS

$0.15

+66.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	329	234	2.8	+40.8%
Cost of revenue	38.5	14.1	0.3	+172.4%
Gross profit	291	220	2.5	+32.3%
Gross margin	88.3%	94.0%	90.5%
Research and development	94.3	76.2	125	+23.8%
Selling, general and administrative	154	123	95.5	+25.7%
Operating income	41.9	20.6	-218	+103.2%
Operating margin	12.7%	8.8%	-7839.0%
Interest expense	24.0	12.6	10.2	+90.5%
Pre-tax income	25.6	13.1	-224	+95.9%
Income tax	2.2	0.4	0.0	+466.9%
Effective tax rate	8.6%	3.0%	n/a
Net income	23.4	12.7	-224	+84.5%
Net margin	7.1%	5.4%	-8036.3%
Diluted EPS	$0.15	$0.09	-$1.65	+66.7%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	-40.5	-31.4	-176
Capital expenditure	0.0	0.0	0.0
Free cash flow	-40.6	-31.4	-176
Free cash flow margin	-12.3%	-13.4%	-6326.2%
Cash from investing	-1.0	-50.7	-20.0
Cash from financing	129	72.7	-0.4	+76.8%
Depreciation and amortisation	0.1	0.2	0.3	-67.8%
Share-based compensation	42.5	37.9	44.7	+12.1%
Diluted shares, weighted	160m	149m	135m	+8.0%
Shares outstanding at period end	156m	151m	146m	+2.9%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	222	161	58.6	+38.5%
Debt	244	100	71.1	+143.4%
Operating lease liabilities	8.1	9.2	10.3	-11.9%
Other liabilities	103	59.5	53.5	+72.9%
Total liabilities and equity	578	330	194	+75.3%
Fixed assets	n/a	0.1	0.3
Goodwill	n/a	0.8	0.8
Investments	132	125	71.8	+5.9%
Cash and equivalents	180	92.9	102	+93.6%
Receivables	129	51.1	0.0	+152.8%
Inventory	110	39.8	0.0	+177.4%
Other assets	26.2	20.3	18.4	+29.5%
Total assets	578	330	194	+75.3%

10-K for the year ended 31 December 2024, filed 3 March 2025: the filing.