Protagonist Therapeutics (PTGX) Financial Statements & Analysis

Protagonist Therapeutics (PTGX) Income Statement

Protagonist Therapeutics reported revenue of $46.02M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 89.4% from $434.43M a year earlier. Protagonist Therapeutics posted a net loss of $130.15M, compared with net income of $275.19M a year earlier. Gross margin was 97.3% and operating margin -343.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $213.47M, up 3749.2% from the same quarter a year earlier.

Protagonist Therapeutics Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Protagonist Therapeutics, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	46.02	434.43	60.00	26.58	27.36	28.63	0.23	30.93	20.06
Cost of Revenue	1.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	44.79	434.43	60.00	26.58	27.36	28.63	0.23	30.93	20.06
Operating Expenses
Research & Development	159.29	138.13	120.16	126.22	126.01	74.51	65.00	59.50	46.18
Selling, General & Administrative	44.85	43.46	33.49	31.74	27.20	18.64	15.75	13.70	11.78
Operating Expenses	202.92	181.59	153.65	157.95	153.20	93.14	80.75	73.19	57.96
Operating Income	-158.13	252.84	-93.65	-131.37	-125.85	-64.52	-80.52	-42.27	-37.90
Other Income/Expense
Interest Income	28.79	26.32	14.90	4.06	0.44	0.90	2.81	2.57	0.95
Interest Expense	0.00	0.00	0.00	0.00	0.00	-0.60	0.17	0.00	0.00
Other Income/Expense	28.82	26.57	14.70	3.98	0.29	-0.33	2.64	2.55	0.94
Income
Income Before Tax	-129.31	279.41	-78.96	-127.39	-125.55	-64.85	-77.88	-39.72	-36.96
Income Tax Expense	0.84	4.22	0.00	0.00	0.00	1.31	-0.69	-0.80	0.00
Net Income	-130.15	275.19	-78.96	-127.39	-125.55	-66.15	-77.19	-38.92	-36.96
Net Income - Continuous Operations	-130.15	275.19	-78.96	-127.39	-125.55	-66.15	-77.19	-38.92	-36.96
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-128.09	253.67	-92.68	-124.02	-125.03	-63.57	-77.01	-39.20	-36.55
EBIT	-158.13	252.84	-93.65	-131.37	-125.85	-64.52	-	-	-
Depreciation & Amortization	1.23	0.83	0.98	3.37	0.81	0.95	0.70	0.53	0.41
Earnings Per Share
Basic EPS	-2.00	4.00	-1.00	-3.00	-3.00	-2.00	-3.00	-2.00	-2.00
Diluted EPS	-2.00	4.00	-1.00	-3.00	-3.00	-2.00	-3.00	-2.00	-2.00
Basic Shares Outstanding	63.57	61.57	56.76	49.04	46.32	34.40	25.89	22.36	17.69
Diluted Shares Outstanding	63.57	65.08	56.76	49.04	46.32	34.40	25.89	22.36	17.69

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Protagonist Therapeutics Financial Statements

What was Protagonist Therapeutics's revenue in fiscal 2025?

Protagonist Therapeutics reported revenue of $46.02M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 89.4% from $434.43M a year earlier.

Is Protagonist Therapeutics profitable?

No. Protagonist Therapeutics reported a net loss of $130.15M in fiscal 2025. In fiscal 2024 it earned $275.19M.

What is Protagonist Therapeutics's operating margin?

Protagonist Therapeutics's operating income was −$158.13M on revenue of $46.02M in fiscal 2025, an operating margin of -343.6%, compared with 58.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition