Profit and loss information
Jun. 30, 2026
Disaggregation of revenue from contracts with customers.
The Group derives revenue from the sale and transfer of goods and services over time and at a point in time under the
following major business activities:
June 30 2026 | June 30 2025 | |||||
Recognition | Operating segment | US$'000 | US$'000 | |||
Sale of goods | At a point in time | Precision Medicine | 388,210 | 305,765 | ||
Sale of goods | At a point in time | Manufacturing Solutions | 83,606 | 76,807 | ||
Royalty income | At a point in time | Precision Medicine | 423 | 55 | ||
Provision of services | At a point in time | Manufacturing Solutions | - | 15 | ||
Provision of services | Over time | Manufacturing Solutions | 5,111 | 3,708 | ||
Research and development services | Over time | Precision Medicine | - | 15 | ||
Research and development services | Over time | Therapeutics | - | 3,994 | ||
Total revenue from continuing operations | 477,350 | 390,359 |
June 30 2026 | June 30 2025 | |||
US$'000 | US$'000 | |||
Salaries and wages | 117,683 | 94,813 | ||
Sales commissions | 4,914 | 3,235 | ||
Share-based payment charge | 12,129 | 11,585 | ||
Non-Executive Directors’ fees | 416 | 386 | ||
135,142 | 110,019 |
Salaries and wages of $1,098,000 (2025: $916,000) are included within cost of sales in the interim consolidated
statement of comprehensive income.
Depreciation and amortizationJune 30 2026 | June 30 2025 | |||
US$'000 | US$'000 | |||
Amortization of intangible assets | 4,204 | 4,620 | ||
Depreciation | 6,951 | 4,965 | ||
11,155 | 9,585 |
June 30 2026 | June 30 2025 | |||
US$'000 | US$'000 | |||
Other income from collaboration agreements | (40,000) | - | ||
(40,000) | - |
Regeneron Pharmaceuticals, Inc.
Overview
In April 2026, Telix entered into a research and development collaboration agreement with Regeneron Pharmaceuticals,
Inc. (“Regeneron”) to jointly develop and commercialize next generation radiopharmaceutical therapeutic candidates and
radio-diagnostics to support patient selection and treatment response assessment. The collaboration leverages
Regeneron’s capabilities in antibody discovery and development and Telix’s radiopharmaceutical platform, development
expertise and manufacturing capabilities.
The parties will conduct research and development activities pursuant to jointly agreed research and development plans
and budgets, overseen through joint governance committees. The collaboration is structured for four initial therapeutic
programs, with Regeneron having the option to expand to include four additional programs. Each party is responsible for
activities aligned to its respective technical expertise.
The parties will share agreed research and development costs equally, with each party responsible for funding the
activities it performs and reimbursing the other party for its share of agreed costs. Telix and Regeneron will also share
equally in the global commercialization costs and potential profits, with Telix retaining the option to co-promote certain
potential products. If Telix elects to opt out of the co-funding model for a particular program, it would be entitled to
receive development and commercial milestones, plus low double-digit royalties on future net sales, for that program.
Treatment of initial consideration
The Group has determined that the arrangement is that of a collaboration whereby Regeneron and Telix are active
participants in the activities of the collaboration and exposed to significant risks and rewards dependent on the
commercial success of the activities. As such, Regeneron is not determined to be a customer to which Telix transferred
control of goods or services. The $40,000,000 initial consideration received from Regeneron has been recognized as
other income to reflect the contribution of Telix’s background intellectual property into the collaboration at inception of
the arrangement.
Treatment of subsequent expenditure through the collaboration
All future spending under the collaboration will be shared equally between Regeneron and Telix. Any reimbursements of
research costs from Regeneron to Telix will be recognized on a net basis in research expense. Further Telix’s obligation
to fund its portion of the collaboration’s expenditure will be recognized within research expense.Finance costsJune 30 2026 | June 30 2025 | |||
US$'000 | US$'000 | |||
Unwind of discount | 14,533 | 12,410 | ||
Interest expense on lease liabilities | 1,783 | 1,054 | ||
Convertible bond interest expense | 5,334 | 4,911 | ||
(Gain) on repurchase of convertible bond | (2,935) | - | ||
Interest expense | 303 | 231 | ||
Bank fees | 370 | 236 | ||
Finance costs | 19,388 | 18,842 |
The Group recognized a gain of $2,935,000 on repurchase of the Existing Bonds being the difference between the
carrying amount of the financial liability that has been extinguished and the consideration paid. Refer to note 6.1 for
further details.