Abstract
Telix Pharmaceuticals Ltd. (Uplisting) is scheduled to report quarterly results on February 20, 2026 after market close, with investor focus on revenue momentum, margin mix, EPS trajectory, and any updates to commercial execution and pipeline milestones.Market Forecast
Based on current-quarter projections, Telix Pharmaceuticals Ltd. (Uplisting) is expected to deliver revenue of 423.29 million in USD terms, up 63.53% year over year, and EPS of 0.44, up 227.28% year over year; street modeling is centered on top-line outperformance and a rebound in earnings leverage while margin forecasts remain mixed given product and services mix. The company’s prior communication indicated a robust full-year revenue trajectory for 2025, which is consistent with sustained commercial expansion and capacity investments; this underpins expectations for growth in the near term even as mix effects may temper gross margin versus product-only periods.The principal commercial business continues to scale on broader geographic rollout and portfolio additions, while manufacturing integration provides distribution reach and operational resilience, setting the stage for continued volume growth and potential margin stabilization as efficiency gains accrue. Precision Medicine stands out as the most promising segment, with last quarter segment revenue of 771.11 million and a reported 30.00% year-over-year growth for the first half of 2025, indicating durable demand and increasing dose volumes.
Last Quarter Review
Telix Pharmaceuticals Ltd. (Uplisting) delivered last-quarter revenue of 783.21 million, a gross profit margin of 48.62%, GAAP net profit attributable to the parent company of -1.15 million, and a net profit margin of -0.59%. Segment contribution was led by Precision Medicine at 771.11 million, complemented by Therapeutics at 9.35 million and Manufacturing Services at 2.75 million.A key business highlight was the continuation of commercial scale-up supported by an expanded global manufacturing and distribution footprint, reinforcing the company’s capability to meet both clinical and commercial demand. Within the main business, Precision Medicine—anchored by expanding product availability and market uptake—sustained strong growth, with first-half 2025 segment revenue reported up 30.00% year over year and segment-level margins stable for key products, suggesting consistent unit economics despite broader mix shifts at the group level.
Current Quarter Outlook
Main Commercial Engine: Precision Medicine
Precision Medicine remains the core revenue engine this quarter, supported by rising dose volumes, broader geographic distribution, and incremental contributions from newer portfolio assets. The segment’s last-quarter revenue of 771.11 million underscores its scale and momentum, while the previously reported 30.00% year-over-year growth in the first half of 2025 points to healthy demand fundamentals. This quarter, investors will monitor unit growth, pricing dynamics, and any changes to reimbursement or formulary status in scaled markets, all of which can influence realized revenue per dose and segment profitability.A central focus is the margin translation from strong top-line expansion to operating leverage. Mix remains a factor—in particular, any contribution shifts between high-margin diagnostic agents and distribution-related revenue may tilt the gross margin outcome. Execution on launches in additional markets and indications will be important for sustaining growth cadence; the breadth of the commercial footprint and continuity of supply will likely determine whether demand can be consistently converted into realized revenue. On balance, the forecasted 63.53% year-over-year revenue increase for the quarter aligns with continued strength from Precision Medicine, with the scale effects potentially enhancing EPS, consistent with the 227.28% year-over-year EPS estimate.
Most Promising Segment: Precision Medicine Scaling and Portfolio Expansion
The near-term growth opportunity is anchored in Precision Medicine, where new product launches, geographic expansions, and increased dose penetration continue to drive the top line. With last-quarter segment revenue at 771.11 million and a previously disclosed 30.00% year-over-year expansion in the first half of 2025, this business appears positioned to deliver further volume-driven growth. The operational setup—including enhanced manufacturing capacity and distribution—adds to confidence that supply can match increasing clinical demand, an essential element in this quarter’s revenue conversion.This quarter’s most important levers within Precision Medicine include mix between primary revenue drivers and incremental contributions from new brands, as well as sustained availability across key regional markets. Given the company’s focus on both commercial execution and manufacturing readiness, the segment’s outlook also rests on minimizing stockouts and optimizing logistics, which can directly affect reported revenue in a given quarter. In combination, these factors drive not only current-quarter revenue but also visibility into subsequent quarters, as consistent delivery tends to translate into gradual market-share gains and more predictable revenue run-rates.
Key Stock Price Drivers This Quarter
The stock’s direction around the print will hinge on the magnitude of any revenue and EPS surprise versus consensus, as well as management’s commentary on the sustainability of growth into subsequent quarters. Investors will be attentive to any qualitative or quantitative guidance that frames the remainder of 2026, with special emphasis on whether current run-rate trends continue. EPS leverage will be watched closely, since the 227.28% year-over-year EPS estimate implies significant operating momentum; confirmation of expense discipline, positive operating cash flow, or improving gross margin mix would be viewed constructively.Gross margin commentary is another critical driver, given the interplay between higher-margin product sales and lower-margin distribution revenue in the consolidated mix. A reiteration that product-level margins remain stable, alongside indications that manufacturing integration is beginning to yield efficiency benefits, could reassure investors concerned about dilution from services mix. Lastly, updates on late-stage clinical milestones and the pace of commercial adoption for newer offerings may influence medium-term expectations, even though this quarter’s results are likely to be primarily driven by the established commercial base.
Analyst Opinions
Across recent coverage in the past six months, the majority view is bullish. Multiple institutions, including Citi and Morgan Stanley, have reiterated Buy ratings, with Citi maintaining a target price of A$34.00 and Morgan Stanley maintaining a target in the A$25.40–A$25.60 range; additional supportive views have been published by Bell Potter and TD Cowen. In aggregate, the ratio of bullish to bearish stances in the collected period skews decisively toward bullish, with no identifiable bearish calls in the sampled window.The bullish case, as articulated by these institutions, centers on continued commercial momentum, strong revenue growth, and the operational benefits from expanded manufacturing and distribution capabilities. Analysts point to the company’s ability to scale its commercial base while advancing a late-stage pipeline, which, in their view, supports both near-term revenue and longer-term optionality. The combination of a robust forecast—423.29 million in revenue this quarter, up 63.53% year over year—and an EPS trajectory modeled at 0.44, up 227.28% year over year, reinforces expectations that execution could deliver a meaningful positive inflection in earnings power. Institutional commentary further emphasizes that sustained product demand and a diversified revenue base may help mitigate quarter-to-quarter variability, while any updates to guidance or visibility into the pace of operating efficiency could serve as catalysts around the results.
In their discussion of valuation, supportive analysts typically frame the current multiples against a backdrop of rapid top-line growth and an expanding commercial platform. That framework implies that if the company delivers on the implied run-rate in the current quarter and corroborates momentum for the coming periods, there may be room for estimates to rise, which tends to underpin constructive ratings. The majority view stresses monitoring of margin mix and operating expense discipline, but generally concludes that the commercial expansion and capability build-out justify continued confidence, particularly given the reported scale of last-quarter revenue and segment-level growth metrics previously disclosed.
Looking ahead, institutions appear focused on three questions for this print: whether revenue growth tracks above the modeled 423.29 million consensus; whether margins show signs of stabilization as mix normalizes and efficiencies are realized; and whether management provides incremental clarity about the cadence of contributions from portfolio expansions. The consensus narrative leans positive on each, and the absence of bearish calls in the sample underscores that, for now, institutional sentiment aligns with a constructive earnings setup predicated on growth and operating progress.