The strong revenue beat and raised guidance are positive catalysts, but the EPS miss due to a $9.2M debt extinguishment loss and rising SG&A costs warrant caution. Monitor the mid-year ENHANCE Phase 3 data readout and Q2 BRIUMVI revenue target of ~$220M for continued momentum. The $500M non-dilutive capital and expanded buyback provide downside support.
Price Chart
Executive Summary
TG Therapeutics reported Q1 2026 revenue of $204.9M, well above the $201.2M consensus, and raised full-year 2026 BRIUMVI U.S. net product revenue guidance to $885-900M (from $825-850M). However, GAAP diluted EPS of $0.12 missed the Street consensus of $0.28, driven by a $9.2M loss on debt extinguishment and higher SG&A spending. The stock will likely trade on the strong revenue beat and raised guidance, offset by the EPS miss and elevated expenses.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue of $204.9M vs $120.9M YoY (+69.5% YoY), beating $201.2M consensus
- BRIUMVI U.S. net revenue of $194.8M in Q1 2026, up ~63% vs Q1 2025
- Raised FY2026 BRIUMVI U.S. net product revenue guidance to $885-900M (from $825-850M)
- Raised FY2026 total global revenue target to ~$925M
- GAAP diluted EPS of $0.12 missed consensus of $0.28; GAAP basic EPS $0.14
- Net income of $19.8M vs $5.1M in Q1 2025
- Secured $500M non-dilutive capital from Blue Owl Capital; expanded buyback program to $300M
- Cash position of $572.8M as of March 31, 2026, up from $199.5M at Dec 31, 2025
- Completed patient enrollment in Phase 3 subcutaneous BRIUMVI and ENHANCE IV dosing trials
Financial Impact
Revenue beat of ~$3.7M vs consensus; EPS miss of $0.16 vs consensus; guidance raised by $60-75M for BRIUMVI U.S. net revenue
Risk Factors
- EPS miss of 38.4% vs consensus may pressure valuation multiples
- SG&A expenses nearly doubled YoY to $88.2M, outpacing revenue growth
- Loss on extinguishment of debt of $9.2M was a one-time charge but reduced net income
- Dependence on single product BRIUMVI for nearly all revenue
- Clinical trial risks for subcutaneous and ENHANCE programs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-015013 |
| Document: tgtx20260227_8k.htm | 0001437749-26-015013 |
| Document: 0001437749-26-015013-index-headers.html | 0001437749-26-015013 |
| Document: 0001437749-26-015013-index.html | 0001437749-26-015013 |
| Document: 0001437749-26-015013.txt | 0001437749-26-015013 |
| 8-K Data (Synthetic) | 0001437749-26-015013 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G/A | $54.10 | awaiting T+60 | — | $56.44 (+4.33%) |
Aug 3, 2026 12w ago | 8-K | $46.17 $55.99 | ▲ +21.27% | ▲ +19.49% | $56.44 (+22.24%) |
Jun 11, 2026 19w ago | Institutional Cluster | $49.52 $55.74 | ▲ +12.56% | ▲ +9.30% | $56.44 (+13.97%) |
Jun 3, 2026 20w ago | 8-K | $40.11 $55.72 | ▲ +38.92% | ▲ +36.42% | $56.44 (+40.71%) |
Jun 3, 2026 20w ago | Press Release | $40.11 $55.72 | ▲ +38.92% | ▲ +36.42% | $56.44 (+40.71%) |
Jun 1, 2026 21w ago | Press Release | $37.41 $55.42 | ▲ +48.14% | ▲ +46.91% | $56.44 (+50.87%) |
May 27, 2026 21w ago | 8-K | $38.82 $54.27 | ▲ +39.80% | ▲ +38.06% | $56.44 (+45.39%) |
May 6, 2026 24w ago | 8-K | $41.97 $52.03 | ▲ +23.97% | ▲ +21.91% | $56.44 (+34.48%) |
Apr 30, 2026 25w ago | Press Release | $33.78 $55.75 | ▲ +65.04% | ▲ +61.93% | $56.44 (+67.08%) |
Apr 22, 2026 26w ago | Press Release | $38.31 $54.87 | ▲ +43.23% | ▲ +38.45% | $56.44 (+47.32%) |
US Market Status
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