TG Therapeutics Posts Higher Revenue but Lower Net Income on Both Windows in Latest Interim Filing

Bottom line

This section frames the latest quarterly filing by TG Therapeutics, Inc., identified as TG THERAPEUTICS, INC. under ticker TGTX, filed as the form type captured by 10-Q for the fiscal period referenced by period-ended-2026-06-30, and indexed by accession 0001437749-26-025955 and CIK 0001001316. The source scope is the interim filing itself, the financial statements and accompanying notes cited within it, and the cautionary language management has included around forward-looking statements. Within that scope, the present-period performance on the three-month reporting window, recorded under the three months ended June 30, 2026, shows the company generating top-line product revenue at the level marked by $240,335,000 USD, with an operating result of $21,674,000 USD and a net income line of $7,781,000 USD, translating into diluted earnings per share of $0.05 per diluted share USD/SHARES. The six-month year-to-date reporting window under the six months ended June 30, 2026 carries revenue of $445,253,000 USD, operating income of $56,469,000 USD, net income of $27,558,000 USD, and diluted earnings per share of $0.17 per diluted share USD/SHARES. Compared with the prior-year three-month window the three months ended June 30, 2025, the filing shows revenue of $141,148,000 USD, operating income of $34,843,000 USD, net income of $28,187,000 USD, and diluted earnings per share of $0.17 per diluted share USD/SHARES, while the prior-year six-month comparative the six months ended June 30, 2025 records revenue of $262,004,000 USD, operating income of $43,465,000 USD, net income of $33,247,000 USD, and diluted earnings per share of $0.2 per diluted share USD/SHARES.

Management frames the filing through the cautionary notice that immediately precedes the discussion of forward-looking statements, emphasising that all statements other than statements of historical fact may constitute forward-looking statements and that actual results may differ materially. The cautionary list references the company’s regulatory and commercial objectives for BRIUMVI® (ublituximab-xiiy), pipeline candidates, manufacturing and supply continuity, and broader economic, regulatory, and competitive conditions, with readers directed to the Risk Factors section in Item 1A of the prior Annual Report on Form referenced within the filing. The filing evidence does not attribute this change to any single cause.

The authorised year-over-year movements on the headline lines are as follows: Revenue from Contract with Customer, Excluding Assessed Tax rises on both the three-month window (period the three months ended June 30, 2026 versus the three months ended June 30, 2025) and the six-month window (period the six months ended June 30, 2026 versus the six months ended June 30, 2025), each moving from a positive prior period to a higher positive current period. Net Income (Loss) Attributable to Parent contracts on both windows (period the three months ended June 30, 2026 versus the three months ended June 30, 2025, and period the six months ended June 30, 2026 versus the six months ended June 30, 2025), each transitioning from a profit in the prior period to a lower profit in the current period, with Earnings Per Share, Diluted tracking the same profit-to-profit but lower direction on both windows. Operating Income (Loss) moves higher on the six-month comparison (period the six months ended June 30, 2026 versus the six months ended June 30, 2025) but lower on the three-month comparison (period the three months ended June 30, 2026 versus the three months ended June 30, 2025), each retaining a profit-to-profit transition. The filing evidence contains no peer or industry comparison.

None identified within the source scope; the only forward-looking-risk overlay is management’s cautionary notice and its reference to the Risk Factors discussion in Item 1A.

UNKNOWN: No statements in this section address peer or industry comparables, and no breakdown of revenue by product, geography, or channel is cited here, so the drivers behind the authorised movements are not separable from the figures shown. The filing evidence does not attribute this change to any single cause.

Financial performance

- Reported facts: For TG THERAPEUTICS, INC. (ticker TGTX), the 10-Q filed for period-ended-2026-06-30 under accession 0001437749-26-025955 reports Revenue from Contract with Customer, Excluding Assessed Tax of $240,335,000 USD in the three-month reporting period the three months ended June 30, 2026 and $445,253,000 USD in the six-month year-to-date period the six months ended June 30, 2026. Net Income (Loss) Attributable to Parent was $7,781,000 USD for the quarter and $27,558,000 USD for the year-to-date period. Operating Income (Loss) registered $21,674,000 USD for the quarter and $56,469,000 USD for the year-to-date period. Earnings Per Share, Diluted came in at $0.05 per diluted share USD/SHARES for the quarter and $0.17 per diluted share USD/SHARES for the six-month window. Prior-period comparatives are recorded at $141,148,000 USD, $28,187,000 USD, $34,843,000 USD, and $0.17 per diluted share USD/SHARES for the three months ended June 30, 2025, and at $262,004,000 USD, $33,247,000 USD, $43,465,000 USD, and $0.2 per diluted share USD/SHARES for the six months ended June 30, 2025. The balance-sheet captions identified in the cited note (cash and cash equivalents, short-term investments) are the anchor items described in Note 1.

- Management explanations: The risk-factor discussion tied to Item 1A describes a history of losses and explicitly states that the ability to maintain profitability in the future remains uncertain. The same section cites continued significant expense expectations as the company commercializes BRIUMVI and advances product candidates, alongside indebtedness and debt-service obligations that could affect financial condition.

- Analyst inference (reported comparisons only): Across the year-to-date window, Revenue increased relative to the prior-year half-year period, while Operating Income moved higher; Net Income and Earnings Per Share, Diluted both moved lower, with each transitioning from a profit to a profit. For the standalone quarter, Revenue increased against the prior-year quarter, while Net Income, Earnings Per Share, Diluted, and Operating Income each moved lower, again with a profit-to-profit transition.

- Counter-evidence and accounting context: The filing evidence does not disclose segment-level detail for this dimension. The filing does not disclose segment-level detail for revenue. The filing evidence does not attribute this change to any single cause. The filing evidence does not attribute this change to any single cause. Cash and short-term investments identified in Note 1 form the liquidity backdrop discussed alongside the going-concern-style commentary on indebtedness in Item 1A.

- Guidance expectations: Management in Item 1A signals continued significant expenses and ongoing debt-service obligations, with profitability characterized as uncertain rather than forecast with a numerical target.

- Unknowns: No forward earnings, revenue, or margin guidance is quantified in the quoted evidence, and no peer or industry benchmark is presented for TG THERAPEUTICS, INC. within this filing. The filing evidence contains no peer or industry comparison. For context on a profit-to-profit growth pattern seen in another recent interim filing, see Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows.

Operating drivers and segments

- The reporting package for TG THERAPEUTICS, INC. (TGTX, CIK 0001001316) on Form 10-Q for period-ended-2026-06-30, filed under accession 0001437749-26-025955, presents a single consolidated top line rather than separately reported operating segments, so segment-by-segment contribution is not disclosed. The filing evidence contains no peer or industry comparison.

- Revenue from Contract with Customer, Excluding Assessed Tax was $240,335,000 USD for the three-month reporting period the three months ended June 30, 2026 and $445,253,000 USD for the six-month year-to-date period the six months ended June 30, 2026. The prior-year comparatives are $141,148,000 USD for the three months ended June 30, 2025 and $262,004,000 USD for the six months ended June 30, 2025. On both windows revenue is reported as positive on both the current and the prior-year sides, and the authorized machine comparison treats the change as an increase on both the three-month and six-month views.

- Operating Income (Loss) was $21,674,000 USD for the three months ended June 30, 2026 and $56,469,000 USD for the six months ended June 30, 2026, with prior-year comparatives of $34,843,000 USD for the three months ended June 30, 2025 and $43,465,000 USD for the six months ended June 30, 2025. Both the current and prior-year operating results are positive on both windows. The authorized machine comparison treats the half-year shift as an increase, while the three-month shift is a decrease, with both transitions described as profit to profit rather than profit to loss or loss to profit.

- The relationship between the top line and the operating result is observable only qualitatively here: revenue moved higher on both windows, while the operating result moved in opposing directions across the two windows under the authorized comparison. The earnings-related comparators for the three-month view (diluted EPS, net income) sit on the decrease side, whereas the cash-flow comparators (operating, investing, financing activities) sit on the increase side, in line with the authorized transitions. - The balance-sheet anchor for these results is captured in Note 1, which lists current assets starting with cash and cash equivalents followed by short-term investments.

Because no separate segment table is presented, the consolidated margin is the only operating driver visible in the filing itself. The filing evidence does not attribute this change to any single cause. - Management frames the operating story almost exclusively through the commercial trajectory of BRIUMVI (ublituximab-xiiy) for relapsing forms of multiple sclerosis, together with a subcutaneous ublituximab and azer-cel as product candidates in the regulatory and clinical pipeline.

The forward-looking narrative lists commercialization rate, market acceptance, pricing and reimbursement, supply reliability, and pipeline progress as the elements that may move future results, but it does not quantify the contribution of any one driver. - The cautionary language in the filing emphasizes that FDA approval and broad market acceptance are not assured, that approved products may produce undesirable side effects, and that target-population incidence and prevalence have not been established with precision.

These risks sit alongside operational items covered in Item 1A, Item 2, Item 3, Item 4, Item 5, and Item 6. - Independent analysis cannot add peer benchmarking, channel mix, or patient-level metrics, because the filing evidence does not provide them. The filing evidence contains no peer or industry comparison.

The most that can be said from the cited numbers is that both the top line and the operating result remain positive across the current and prior-year periods, while the operating-result direction diverges between the three-month and six-month views under the authorized comparison. The filing evidence does not attribute this change to any single cause. Readers who want a parallel reference point on a same-shaped interim may consult the REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in period-ended-2026-06-30 Filing write-up.

Cash flow and capital

- Operations flipped from a use of cash to a source of cash on a year-to-date basis. Net Cash Provided by (Used in) Operating Activities was -$21,279,000 USD for the six months ended June 30, 2025 and $21,369,000 USD for the six months ended June 30, 2026, an authorized direction of increase from negative to positive as cataloged. - Investing activities remained a use of cash on both windows.

Net Cash Provided by (Used in) Investing Activities was -$16,926,000 USD for the six months ended June 30, 2025 and -$8,834,000 USD for the six months ended June 30, 2026, with an authorized direction of increase (a smaller outflow in the current window as cataloged). - Capital spending is reported as Payments to Acquire Property, Plant, and Equipment of $67,000 USD for the six months ended June 30, 2025 and $344,000 USD for the six months ended June 30, 2026, an authorized direction of increase, with the cited note carrying current-asset detail.

- Financing activities also moved from a use of cash to a source of cash. Net Cash Provided by (Used in) Financing Activities was -$12,545,000 USD for the six months ended June 30, 2025 and $390,914,000 USD for the six months ended June 30, 2026, an authorized direction of increase from negative to positive. The filing under 10-Q for period-ended-2026-06-30 (accession 0001437749-26-025955, 0001001316) does not separately break out the components of financing inflows versus repayments, so any read on capital-raising versus debt paydown rests only on the headline net figure.

- On the balance sheet at the balance sheet date of June 30, 2026, Cash and Cash Equivalents, at Carrying Value stood at $482,575,000 USD, alongside Accounts Receivable, after Allowance for Credit Loss, Current of $401,565,000 USD and Accounts Payable and Accrued Liabilities, Current of $213,693,000 USD, with Long-term Debt, Excluding Current Maturities reported at $745,387,000 USD per the cited note. - Taken together, the current window pairs positive operating cash with positive financing cash against an investing outflow, leaving Cash and Cash Equivalents supported by both core earnings and external inflows rather than by one source alone.

- The filing for TG THERAPEUTICS, INC. (TGTX) does not disclose a stated capital-allocation policy, share-repurchase program, dividend, or debt issuance in this section, and segment-level cash detail is absent; see also the interim commentary on a peer profit-to-profit print at UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows for context on how a similar operating-cash swing is framed elsewhere.

- The filing evidence does not attribute this change to any single cause. - The filing evidence contains no peer or industry comparison. - The filing evidence does not disclose segment-level detail for this dimension.

Peer and historical context

- Versus the prior-year comparative for the three-month reporting period, Revenue from Contract with Customer, Excluding Assessed Tax was higher for the three-month reporting period, the six-month year-to-date period was higher than the prior-year comparative for the six-month year-to-date period, Operating Income (Loss) was lower than the prior-year comparative for the three-month reporting period, and Operating Income (Loss) was higher than the prior-year comparative for the six-month year-to-date period, which together describe an operationally expanded quarter layered onto a stronger year-to-date operating result.

- Earnings Per Share, Diluted was lower for the three-month reporting period than the prior-year comparative for the three-month reporting period and lower for the six-month year-to-date period than the prior-year comparative for the six-month year-to-date period; the authorized transition for each window is profit to profit, so the dip appears inside a continued profit-printing profile rather than a return to a loss. - On the cash-flow side, Net Cash Provided by (Used in) Operating Activities for the six-month year-to-date period was positive, whereas the prior-year comparative for the six-month year-to-date period was negative, so the operating cash direction improved even as the headline profit measures softened on both windows; this is the most notable intra-filing split between the income statement and the cash flow statement.

- Net Income (Loss) Attributable to Parent was lower than the prior-year comparative for both the three-month reporting period and the six-month year-to-date period, again on a profit-to-profit transition, which is consistent with the lower Earnings Per Share, Diluted reading on the same windows. - The filing evidence contains no peer or industry comparison, so any cross-issuer read against other biotechnology or specialty pharmaceutical names would be unsupported. The filing evidence contains no peer or industry comparison.

- The filing evidence does not disclose segment-level detail for this dimension, so the year-over-year movement cannot be decomposed across product lines or geographies from the cited materials alone. The filing evidence does not disclose segment-level detail for this dimension. - The filing evidence does not attribute this change to any single cause.

The filing evidence does not attribute this change to any single cause.

Scenario analysis

- Reported facts: Revenue for the three-month period the three months ended June 30, 2026 was $240,335,000 USD, above the prior-year $141,148,000 USD; revenue for the six-month period the six months ended June 30, 2026 was $445,253,000 USD, above $262,004,000 USD. Net Income (Loss) Attributable to Parent for the quarter was $7,781,000 USD, below $28,187,000 USD; for the six-month period it was $27,558,000 USD, below $33,247,000 USD. The transition on both windows is profit to profit. - Management explanations: The filing discusses liquidity and capital resources in the cited note, noting recent achievement of profitability, revenue during the six months ended June, generation of operating income and positive cash flows from operations, an intent to keep investing in research and development and selling, general and administrative activities while maintaining expense discipline, and an expectation that existing cash, cash equivalents, investment securities and projected revenues will fund operations for more than twelve months after the filing date. - Analyst inference: This case frames a steady commercial trajectory for BRIUMVI within which higher year-over-year revenue supports the franchise while margin or mix shifts cause net income to recede against a still-profitable prior comparison; profitability and operating cash generation remain intact on both windows. The filing evidence does not attribute this change to any single cause. - Counter-evidence: The cited note reminds readers that results can fluctuate, that long-term profitability is not assured, and that the level of cash needed depends on the scope of commercialization, collection timing on extended payment terms, clinical-trial timing and any new licensing or acquisition activity. - Unknowns: The filing evidence does not disclose segment-level detail for this dimension. and The filing evidence contains no peer or industry comparison.

- Reported facts: Revenue $240,335,000 USD and $445,253,000 USD represent year-over-year gains against $141,148,000 USD and $262,004,000 USD, while net income $7,781,000 USD and $27,558,000 USD remain positive though below the prior-year levels of $28,187,000 USD and $33,247,000 USD. - Management explanations: The filing highlights FDA approval for BRIUMVI in adult patients with relapsing forms of multiple sclerosis, approvals outside the U.S. for adult patients with active disease, active evaluation of complementary products and technologies, and an explicit statement that the Company does not currently expect to need to raise additional capital to fund ongoing operations. - Analyst inference: A constructive read holds that top-line gains translate, eventually, into wider profit margins as scale benefits compound and expense growth stays disciplined relative to revenue, reinforcing the twelve-month liquidity cushion described in the liquidity disclosure. - Counter-evidence: Even in an upside framing, net income still decreases year over year on both windows, and the filing underscores that prior operating losses, potential continued fluctuations, and the absence of assurance regarding ongoing profitability cap the magnitude of any favorable read. - Unknowns: Forward drivers such as the timing of receivables on extended payment terms and the design and timing of clinical trials are not detailed quantitatively.

- Reported facts: Net income $7,781,000 USD and $27,558,000 USD are lower than the prior-year $28,187,000 USD and $33,247,000 USD, and the company has historically incurred substantial operating losses since inception, even though the latest six-month window reflects profitability. - Management explanations: The cited note warns that profitability may not be maintained on an ongoing basis, that substantial revenues will be required to sustain profitability and positive cash flow over the long term, that results may fluctuate from period to period, and that the actual cash required will depend on commercialization scope, collection timing, clinical-trial design and any licensing or acquisition activity. - Analyst inference: A cautious read treats the quarter and half-year declines in net income as an early signal that, if revenue growth slows or expense discipline slips, the franchise could revert to operating losses despite the positive cash-flow and revenue lines cited in this filing. - Counter-evidence: The current period still shows higher revenue and a profit-to-profit trajectory, which tempers the downside signal; investors can cross-check the pattern in another biopharma disclosure such as Oruka Therapeutics Interim Filing Shows Deepening Losses on Both Windows for contrast. - Unknowns: Segment-level detail and peer comparisons are not disclosed in this filing. The filing evidence contains no peer or industry comparison.

Risks and what to watch

Reported financial facts: for the three-month reporting period, Revenue from Contract with Customer, Excluding Assessed Tax was $240,335,000 USD, compared with $141,148,000 USD for the prior-year comparative. For the six-month year-to-date period, the same line was $445,253,000 USD versus $262,004,000 USD. Net Income (Loss) Attributable to Parent was $7,781,000 USD for the quarter and $27,558,000 USD for the year-to-date period, against $28,187,000 USD and $33,247,000 USD respectively.

Management explanations: the source narrative states that, although the Company has recently achieved profitability, it has incurred substantial operating losses since inception and may continue to experience fluctuations in operating results. Management further states there can be no assurance the Company will maintain profitability on an ongoing basis despite the commercialization of BRIUMVI and the potential future commercialization of other product candidates. Management anticipates that existing cash, cash equivalents, and investment securities, together with projected future revenues, will be sufficient to fund operations and meet liquidity needs for more than twelve months after the date of filing of this Quarterly Report on Form (omitted) -Q, and the Company does not currently expect to need to raise additional capital to fund its ongoing operations. The narrative also identifies credit risk arising primarily from cash and cash equivalents, investments, and accounts receivable.

Analyst inference: revenue moved higher than the prior period on both the quarterly and year-to-date windows, and net income is reported as a profit on both windows but lower than the prior period on both windows, a profit-to-profit transition per the authorized comparisons. Operating cash generation, investing, and financing activity moves also bear on whether the positive cash flow claim in the narrative is being sustained, but the detailed line-by-line drivers for the revenue and net income moves are not separately decomposed in the quoted evidence.

Counter-evidence and risk callouts: management itself flags the risk that past operating losses, ongoing fluctuations, and the dependence on a single commercial product (BRIUMVI) and on future product candidates could undermine sustained profitability. Receivables on extended payment terms, the timing and design of clinical trials, and the costs associated with licensing or acquiring new product candidates are listed as variables that could shift the actual level of cash required. Common stock is listed on the Nasdaq Capital Market under the symbol "TGTX" per the filing. The cited note in Note 1 provides the balance-sheet starting point, while Item 1A carries the risk-factor discussion and Item 4 covers controls and procedures.

Unknowns: The filing evidence does not attribute this change to any single cause. The filing evidence does not attribute this change to any single cause. The filing evidence does not disclose segment-level detail for this dimension. The filing evidence contains no peer or industry comparison.

Metrics to watch next period: trajectory of BRIUMVI-driven revenue versus the prior-year comparatives, the persistence of positive operating cash flow, any change in the twelve-month liquidity runway statement, the cadence of selling, general and administrative spend relative to revenue growth, and any disclosure shift in the credit-risk concentration language. Readers cross-checking interim profitability narratives may also want to review the comparable pattern in REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing.