Top Page
Telix Pharmaceuticals
(OTC:TLX)
Telix Pharmaceuticals (TLX) vs. iShares MSCI Australia ETF (EWA)
Telix Pharmaceuticals Business Overview & Revenue Model
Telix Pharmaceuticals Earnings Call Summary
Telix Pharmaceuticals Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.25B | 783.21M | 502.55M | 160.10M | 7.60M |
| Gross Profit | 662.07M | 509.68M | 314.39M | 29.34M | -29.77M |
| EBITDA | 61.33M | 92.55M | 22.97M | -92.84M | -70.07M |
| Net Income | -11.05M | 49.92M | 5.21M | -104.08M | -80.51M |
Balance Sheet | |||||
| Total Assets | 1.77B | 1.52B | 398.30M | 255.35M | 109.81M |
| Cash, Cash Equivalents and Short-Term Investments | 212.74M | 710.35M | 123.24M | 116.33M | 22.04M |
| Total Debt | 785.24M | 581.45M | 17.45M | 10.45M | 2.54M |
| Total Liabilities | 1.15B | 948.22M | 249.39M | 178.44M | 106.17M |
| Stockholders Equity | 622.89M | 568.21M | 148.91M | 80.01M | 2.16M |
Cash Flow | |||||
| Free Cash Flow | -85.62M | 9.00M | 13.09M | -77.83M | -60.67M |
| Operating Cash Flow | -26.82M | 43.03M | 23.88M | -63.97M | -59.33M |
| Investing Cash Flow | -443.42M | -135.17M | -25.49M | -17.00M | -2.73M |
| Financing Cash Flow | -5.77M | 638.92M | 10.19M | 174.96M | 2.85M |
Telix Pharmaceuticals Technical Analysis
Telix Pharmaceuticals Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$502.51M | 15.41 | 15.90% | 0.38% | 7.76% | 1.55% | |
59 Neutral | $1.65B | 54.28 | 54.79% | ― | 12.35% | 26.73% | |
55 Neutral | $2.89B | -19.55 | -18.95% | ― | 198.58% | 3.97% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$71.50M | -6.80 | -49.72% | ― | ― | 10.78% | |
49 Neutral | AU$3.39B | -307.69 | -1.86% | ― | 60.23% | -66.98% | |
49 Neutral | AU$567.38M | -6.72 | -35.86% | ― | ― | -19.21% |
Telix Pharmaceuticals Corporate Events
Telix Pharmaceuticals has lodged its latest corporate governance statement with the ASX for the financial year ended 31 December 2025, confirming that the document is current as of 20 February 2026 and available on the company’s investor relations website. The accompanying Appendix 4G outlines how Telix complies with the ASX Corporate Governance Council’s principles, including board charters, director appointment processes and company secretary accountability, reinforcing its adherence to best-practice governance and disclosure requirements for shareholders.
The filing confirms that Telix has followed key governance recommendations such as written agreements for directors and senior executives and clear delineation of board and management responsibilities. By mapping its disclosures against ASX rules and council recommendations, Telix provides investors with greater transparency on its oversight structures, risk management and decision-making processes, supporting confidence in the company’s governance framework.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals highlighted new clinical evidence for its investigational LAT1-targeted therapy TLX101-Tx, used in a patient with recurrent glioblastoma who showed a near-complete response on F-FET imaging. The data, showcased as part of its FY 2025 full-year results presentation, underscores the potential of Telix’s precision radiopharmaceutical approach and will likely inform investor focus on the company’s oncology pipeline and future commercial opportunities.
The results presentation, led by CEO Dr. Christian Behrenbruch and other senior executives, covered therapeutics progress, financial updates, and a precision medicine business review. This structure suggests Telix is positioning TLX101-Tx and its broader precision medicine portfolio as central to its growth strategy and stakeholder narrative going into the next financial year.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix reported FY 2025 revenue of US$803.8 million, a 56% increase that exceeded guidance, and generated positive adjusted operating cash flow while absorbing higher costs from acquisitions and expanded commercial infrastructure. The company invested heavily in R&D, particularly in late-stage therapeutics, and ended the year with US$141.9 million in cash after significant M&A outlays and completion of a contingent payment tied to Illuccix.
The precision medicine segment delivered 22% revenue growth on strong Illuccix volumes and the U.S. launch of Gozellix, with a 64% gross margin and higher segment EBITDA supporting further global launches. Telix also expanded its Telix Manufacturing Solutions network through RLS and other facilities, advanced multiple radiotherapeutic candidates into pivotal or early-phase trials, and moved key imaging assets, including Zircaix and Pixclara, toward U.S. and European approvals, underscoring a strategic shift from single-product reliance to an integrated global platform in radiopharmaceuticals.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has reported its financial results for the year ended 31 December 2025, showing revenue from contracts with customers rising 56% to US$803.8 million compared with 2024. Despite this strong top-line growth, the company swung to a net loss after tax of US$7.1 million, versus a prior-year profit of US$33.7 million, and total comprehensive income also moved into negative territory.
The Board confirmed that no dividend was proposed or paid for 2025, indicating an ongoing focus on reinvestment rather than capital returns, which may affect income-focused shareholders. Telix also announced its 2026 Annual General Meeting will be held on 21 May in Melbourne, with a 9 April deadline for director nominations, setting the timetable for upcoming governance and strategic discussions with investors.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has announced that director Tiffany Olson has ceased to be a director of the company as of 3 February 2026. At the time of her departure, Olson held 106,550 fully paid ordinary shares in Telix and 52,070 share appreciation rights with a notional exercise price of A$4.95 expiring in May 2026; no additional indirect holdings or contractual interests were disclosed, indicating a straightforward change in board composition that may be of interest to investors monitoring governance and insider holdings.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has announced that it will release its full-year financial results for the period ended 31 December 2025 on 20 February 2026 AEDT, followed by an investor webcast and conference call on the same day to brief shareholders and analysts. The scheduled results publication and accompanying investor event underscore the company’s ongoing efforts to engage global capital markets and provide transparency around its performance as it advances a growing portfolio of radiopharmaceutical products in oncology and rare diseases.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has announced the resignation of Board Chair and Non-Executive Director Tiffany Olson, effective 3 February 2026, and the appointment of long-standing independent Non-Executive Director Dr. Mark Nelson as Interim Chair. The board said it is in the advanced stages of appointing additional Non-Executive Directors and a new independent Chair, while stressing that the leadership change will not affect the company’s near-term milestones or long-term growth strategy, and characterising 2026 as a pivotal year for its expanding commercial business and pipeline.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$20.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Challenger Limited has filed a notice with the ASX confirming that it and its associated entities have ceased to be a substantial holder in Telix Pharmaceuticals Ltd, meaning their voting power has fallen below the substantial holding threshold. The change, formalised in a statutory Form 605 lodged on 23 January 2026, signals a reduction in Challenger’s equity exposure to Telix and may slightly alter Telix’s shareholder base composition, though no additional details on the nature or consideration of the transactions were disclosed.
The most recent analyst rating on (AU:TLX) stock is a Hold with a A$11.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals will release 47,256 ordinary shares from voluntary escrow on 31 January 2026, representing stock originally issued to Lightpoint Medical as part of the consideration for Telix’s acquisition of Lightpoint and its SENSEI radio-guided surgery business. The release marginally increases the tradeable free float of Telix shares and marks a further step in integrating the Lightpoint acquisition into Telix’s capital structure, though the relatively small volume suggests limited immediate market impact for existing shareholders.
The most recent analyst rating on (AU:TLX) stock is a Hold with a A$11.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
JPMorgan Chase & Co. and its affiliates have notified Telix Pharmaceuticals Ltd that they have ceased to be a substantial holder in the company as of 20 January 2026, following a series of transactions involving securities lending, collateral arrangements, proprietary trading and prime brokerage-related rehypothecation across multiple JPMorgan entities. The change reduces JPMorgan’s influence over Telix’s voting securities and may marginally alter the company’s shareholder profile, though it does not directly affect Telix’s operations or strategy in the radiopharmaceuticals sector.
The most recent analyst rating on (AU:TLX) stock is a Hold with a A$11.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals reported unaudited full-year 2025 revenue of approximately US$804 million, meeting its upgraded guidance and reflecting strong growth in its Precision Medicine business, which generated US$161 million in the fourth quarter driven by the successful reimbursed U.S. launch of Gozellix. The company also advanced its therapeutics pipeline, initiating or progressing multiple clinical trials in prostate, kidney and brain cancers, and bone metastasis pain, while entering a strategic collaboration with Varian to explore combinations of its radiopharmaceuticals with external beam radiation therapy, underscoring Telix’s ambition to solidify its position as a leader in radiopharmaceutical oncology and support sustained growth in 2026 and beyond.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$31.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals and its Greater China partner Grand Pharmaceutical Group have had their New Drug Application for TLX591-Px (Illuccix) accepted for review by China’s National Medical Products Administration, marking Telix’s first product filing in the Chinese market and a key step in its geographic expansion strategy. The submission, based on a pivotal Phase 3 study in Chinese patients with biochemically recurrent prostate cancer, demonstrated a high positive predictive value of 94.8% for tumor detection and triggered changes in treatment plans for more than two-thirds of participants, suggesting Illuccix could materially influence clinical decision-making in a rapidly growing prostate cancer market that is expanding at around 6% annually and supported by significant national investment in PET/CT imaging infrastructure.
The most recent analyst rating on (AU:TLX) stock is a Hold with a A$12.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has corrected an earlier Appendix 2A filing with the ASX, clarifying that 51,828 options (TLXAL) were exercised for cash, resulting in the issuance of 51,828 ordinary shares rather than the 37,295 shares previously disclosed under a cashless exercise provision. The update, lodged on 14 January 2026 and backdating the issue of the shares to 25 November 2025, tidies up an administrative error in the company’s capital management records but does not signal a new transaction, instead ensuring accurate disclosure of Telix’s share count and option exercise mechanics for investors and regulators.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has announced the lapse of several classes of conditional securities, including 45,000 share rights (TLXAP), 326,334 share appreciation rights (TLXAO), and 84,896 US performance share appreciation rights (TLXAW), all of which ceased on 30 October 2025 after their vesting conditions were not met or became incapable of being satisfied. The cessation of these rights reduces potential future equity dilution and indicates that certain performance or service conditions tied to these incentives were not achieved, marginally simplifying the company’s capital structure and refining the alignment between management incentives and shareholder outcomes.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$25.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has released the investor presentation that Managing Director and Group CEO Dr. Christian Behrenbruch will deliver at the 44th Annual J.P. Morgan Healthcare Conference in San Francisco, with the session to be webcast live and available on demand via the company’s investor relations site. Alongside the conference materials, Telix has also published a comprehensive overview of its therapeutic pipeline assets and confirmed it will report fourth-quarter 2025 financial results on 20 January 2026, signalling an active period of investor engagement and increased transparency around its development programs and financial performance.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$25.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has notified the market of the issuance of 2,501,179 unquoted share appreciation rights under its employee incentive schemes, comprising 742,992 Telix share appreciation rights and 1,758,187 US performance share appreciation rights, both dated 24 October 2025. The move underscores the company’s continued use of equity-based compensation to align staff incentives with shareholder interests, potentially strengthening talent retention and management focus on long-term value creation without immediate dilution to quoted share capital.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$28.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has applied to the ASX for quotation of a small number of additional ordinary fully paid shares, totaling 41,161 securities, issued on various dates in November and December 2025 following the exercise of options or conversion of other securities. The incremental listing reflects routine capital management activity and a modest expansion of the company’s quoted share base, with limited immediate impact on overall capital structure but signalling ongoing execution of equity-linked incentives or financing arrangements.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$28.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals reported strong top-line Phase 3 data from its Illuccix (TLX591-CDx) prostate cancer imaging trial in Chinese patients, with a patient-level positive predictive value of 94.8% and treatment plans altered in more than two-thirds of participants, paving the way for a near-term New Drug Application in China’s rapidly expanding prostate cancer and nuclear medicine market in partnership with Grand Pharma. The company also outlined progress on U.S. regulatory pathways for its other imaging agents, with an NDA resubmission for glioma PET tracer TLX101-CDx being finalised following constructive FDA feedback, and alignment reached with the FDA on addressing chemistry, manufacturing and controls issues for TLX250-CDx, including an additional meeting in January to confirm data requirements for commercial-scale manufacturing comparability, underscoring Telix’s efforts to stabilise and expand its precision medicine portfolio while maintaining expanded access programs for patients.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has provided an update on its ProstACT Global Phase 3 study involving TLX591, a prostate cancer therapy candidate targeting metastatic castration-resistant prostate cancer (mCRPC). The company has successfully completed Part 1 of the study and has now initiated Part 2 across several countries, following positive safety and clinical results. This study marks a significant milestone in the development of TLX591, as it combines a PSMA-targeted radio antibody-drug conjugate with existing Standard of Care treatments, promising a unique therapeutic alternative with fewer adverse effects. Expansion into additional global jurisdictions, including Europe, is underway, enhancing Telix’s industry positioning and reinforcing its commitment to advancing innovative oncology solutions.
The most recent analyst rating on (AU:TLX) stock is a Hold with a A$17.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals Limited has updated its Securities Dealing Policy effective from December 11, 2025, in compliance with ASX Listing Rule 12.10. This update reflects the company’s ongoing commitment to regulatory compliance and may impact its operations by ensuring transparency and integrity in securities dealings, potentially affecting investor confidence and stakeholder engagement.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$28.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.
Telix Pharmaceuticals has announced the dosing of the first patient in Part 2 of its ProstACT Global Phase 3 study, which evaluates the prostate cancer therapy candidate TLX591 in patients with metastatic castration-resistant prostate cancer. This trial is notable for combining a PSMA-targeted radio antibody drug conjugate therapy with standard care treatments. The study is expanding globally, with recruitment ongoing in several countries, and plans to submit data to the FDA to further expand the trial in the U.S. This milestone is significant for Telix’s prostate cancer therapeutics pipeline and may enhance its industry positioning by potentially offering a new treatment option with fewer adverse effects compared to existing therapies.
The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.