TG Therapeutics(TGTX) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $161.7 million, with BRIUMVI U.S. net revenue at $152.9 million, representing 84% growth year-over-year[5] - The company raised its full-year 2025 global revenue target to approximately $600 million, up from a prior guidance of $585 million[6] - BRIUMVI U.S. net product revenue for the full year 2025 is now targeted at approximately $585 million, an increase from the previous guidance of $570 - $575 million[4] - Product revenue for Q3 2025 reached $159.3 million, a 91.2% increase from $83.3 million in Q3 2024[44] - Total revenue for the nine months ended September 30, 2025, was $423.7 million, compared to $220.8 million for the same period in 2024, reflecting a 92.0% growth[44] - Operating income for Q3 2025 was $29.4 million, up from $12.4 million in Q3 2024, representing a 136.5% increase[44] - Net income for Q3 2025 was $390.9 million, significantly higher than $3.9 million in Q3 2024, driven by a non-recurring income tax benefit of approximately $365.0 million[13] - Basic net income per share for Q3 2025 was $2.69, compared to $0.03 in Q3 2024, marking a significant improvement[44] Expenses - Research and development expenses for Q3 2025 were approximately $40.9 million, compared to $20.1 million in Q3 2024, reflecting increased costs in clinical trials and development[13] - Selling, general and administrative expenses for Q3 2025 were approximately $63.4 million, up from $42.0 million in Q3 2024, primarily due to increased marketing and personnel costs[13] - The company reported a total cost of revenue of $28.1 million for Q3 2025, compared to $9.3 million in Q3 2024, reflecting increased operational costs[44] - Research and development expenses for the nine months ended September 30, 2025, were $119.0 million, up from $70.4 million in the same period of 2024, indicating a focus on innovation[44] Shareholder Actions - The company completed a $100 million share repurchase program, purchasing approximately 3.5 million shares at an average price of $28.55 per share, and authorized an additional $100 million program[2] Market and Product Development - BRIUMVI is now approved in multiple international markets, including the European Union, United Kingdom, Switzerland, Australia, Kuwait, and the United Arab Emirates[5] - The company commenced patient enrollment into the Phase 3 pivotal program for subcutaneous ublituximab and completed enrollment for the ENHANCE trial[5] - The company presented three data presentations at the 2025 ECTRIMS annual meeting, showcasing positive outcomes from ongoing clinical trials[5] Assets and Equity - Cash, cash equivalents, and investment securities totaled $178.3 million as of September 30, 2025, down from $311.0 million at the end of 2024[44] - Total assets increased to $1.025 billion as of September 30, 2025, compared to $577.7 million at the end of 2024[44] - Total equity rose to $607.2 million as of September 30, 2025, up from $222.4 million at the end of 2024[44]