Telix Pharmaceuticals (ASX:TLX) reported a landmark financial performance for the fiscal year ended Dec. 31, 2025, characterised by a 56% rise in total revenue to US$803.8 million.
The growth, which met the upper end of the company's upsized guidance, was primarily fueled by the sustained commercial success of Illuccix and the strategic US launch of Gozellix.
The company's Precision Medicine segment remains the primary engine of profitability, delivering a US$216.4 million adjusted EBITDA—a 24% year-over-year increase—while maintaining a stable 64% gross margin.
Despite a heavy reinvestment phase, the group achieved a positive adjusted operating cash flow, ending the year with US$141.9 million in cash reserves.
The liquidity follows a year of aggressive strategic maneuvers, including US$246.4 million spent on mergers and acquisitions, such as the RLS Radiopharmacies deal, and the final US$51.8 million buyout of contingent considerations for ANMI.
The company ramped up selling and marketing expenses to US$82.4 million to support the global rollout of Illuccix in Europe and the anticipated launches of Zircaix and Pixclara.
While the firm reported a non-material loss before tax of US$5.3 million—largely due to non-cash finance costs and amortisation—the results underscore a transition from a single-product company to a diversified radiopharmaceutical powerhouse with a robust, self-funding pipeline.
At the time of reporting, Telix Pharmaceuticals' share price was $9.78.