Protagonist Therapeutics (PTGX) financial statements
Protagonist Therapeutics reported revenue of $46M in fiscal 2025, up 10.9% a year over 8 years.
Net income was -$130M.
Free cash flow was $56M.
The diluted share count rose 878% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Protagonist Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $20M | $31M | $231,000 | $29M | $27M | $27M | $60M | $434M | $46M |
| Research and development | $26M | $46M | $59M | $65M | $75M | $126M | $126M | $120M | $138M | $159M |
| Selling, general and admin | $7M | $12M | $14M | $16M | $19M | $27M | $32M | $33M | $43M | $45M |
| Operating income | -$33M | -$38M | -$42M | -$81M | -$65M | -$126M | -$131M | -$94M | $253M | -$158M |
| Interest expense | — | — | — | $169,000 | $598,000 | — | — | — | — | — |
| Pre-tax income | -$37M | -$37M | -$40M | -$78M | -$65M | -$126M | -$127M | -$79M | $279M | -$129M |
| Income tax | $0 | $0 | -$799,000 | -$691,000 | $1M | $0 | $0 | $0 | $4M | $838,000 |
| Net income | -$37M | -$37M | -$39M | -$77M | -$66M | -$126M | -$127M | -$79M | $275M | -$130M |
| EPS (diluted) | -$5.80 | -$2.09 | -$1.74 | -$2.98 | -$1.92 | -$2.71 | -$2.60 | -$1.39 | $4.23 | -$2.05 |
| Diluted shares | 7M | 18M | 22M | 26M | 34M | 46M | 49M | 57M | 65M | 64M |
| Operating margin | — | -188.9% | -136.7% | -34857.6% | -225.4% | -460.0% | -494.2% | -156.1% | 58.2% | -343.6% |
| Net margin | — | -184.2% | -125.9% | -33414.3% | -231.1% | -458.9% | -479.3% | -131.6% | 63.3% | -282.8% |
Balance sheet
Fiscal years, from Protagonist Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $78M | $144M | $129M | $133M | $306M | $327M | $237M | $342M | $419M | $567M |
| Total current assets | $83M | $151M | $138M | $145M | $316M | $341M | $243M | $356M | $592M | $578M |
| Property, plant and equipment | $562,000 | $879,000 | $861,000 | $2M | $1M | $2M | $2M | $1M | $3M | $4M |
| Total assets | $94M | $164M | $139M | $155M | $324M | $348M | $248M | $358M | $745M | $668M |
| Total current liabilities | $6M | $43M | $26M | $35M | $40M | $44M | $31M | $21M | $47M | $45M |
| Total liabilities | $6M | $43M | $27M | $75M | $45M | $48M | $32M | $21M | $69M | $53M |
| Shareholders' equity | $88M | $121M | $113M | $80M | $280M | $300M | $216M | $337M | $675M | $615M |
| Net debt | -$21M | -$106M | -$82M | -$33M | -$117M | -$124M | -$126M | -$187M | -$97M | -$128M |
Cash flow
Fiscal years, from Protagonist Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30M | $4M | -$50M | -$42M | -$72M | -$108M | -$108M | -$70M | $184M | $58M |
| Capital spending | $347,000 | $666,000 | $486,000 | $967,000 | $471,000 | $1M | $795,000 | $609,000 | $1M | $2M |
| Free cash flow | -$30M | $3M | -$50M | -$42M | -$73M | -$109M | -$109M | -$71M | $183M | $56M |
| Stock-based compensation | $2M | $4M | $7M | $8M | $8M | $16M | $24M | $29M | $38M | $46M |
| Net borrowing | — | — | — | $10M | -$11M | — | — | — | — | — |
| Free cash flow margin | — | 16.0% | -163.1% | -18395.7% | -254.8% | -398.3% | -409.8% | -118.1% | 42.1% | 121.9% |
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Open PTGX in InvestinglyQuestions
What was Protagonist Therapeutics's revenue in 2025?
$46M in fiscal 2025, from its 10-K filing.
How much free cash flow does Protagonist Therapeutics generate?
$56M in fiscal 2025 (operating cash flow minus capital spending).
From Protagonist Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.