Telix Pharmaceuticals reported a 146% jump in EBITDA to $52 million for the first half of 2026, driven by a 22% rise in group revenue to $477 million. The company’s precision medicine segment generated $388 million in sales, up 27% year-over-year, while Telix Manufacturing Solutions contributed $89 million.
Net profit after tax reached $38 million, reversing a $2 million loss in the same period of 2025. Operating profit surged 360% to $46 million, and gross margin expanded to 55%, up two percentage points from a year earlier. Cash reserves increased 78% to $252 million, reflecting strong operating cash flow.
R&D expenses climbed 51% to $124 million, representing 26% of revenue. The company raised its full-year 2026 R&D guidance to $230 million-$270 million, up from prior estimates, while maintaining revenue guidance of $950 million-$970 million with expectations to finish at the upper end of the range.
Precision medicine gross margin reached 65%, with EBITDA for the segment rising 26% to $132 million. The company’s two-product strategy, featuring Illuccix and Gozellix, is performing as planned, according to Kevin Richardson, CEO of Telix Precision Medicine. Christian Behrenbruch, Chief Executive, described Telix as a "pure-play radiopharmaceutical firm" targeting significant unmet medical needs.
Key pipeline developments include the U.S. PDUFA date for Pixclara on September 11, 2026, and an expected BLA resubmission for Zircaix within one to two months. The company also plans an R&D Day in New York on September 22, 2026. Telix’s manufacturing footprint spans Belgium, Japan, the U.S., Australia, Brazil, and Greater China, with partnerships including a $40 million collaboration with Regeneron for next-generation radiopharmaceutical candidates.
Shares closed at $12.12, up 2.02%, with after-hours trading at $12.27. Analyst price targets range from $19.90 to $22.47, implying 64% to 85% upside based on a strong buy consensus rating.
