Telix Pharmaceuticals Reports Strong FY2024 Profit Growth, Sets Ambitious FY2025 Revenue Targets

MELBOURNE, Australia and INDIANAPOLIS, Ind., February 20, 2025

Telix Pharmaceuticals Limited, a renowned biopharmaceutical company listed on both the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (Nasdaq: TLX), has released its financial results for the year ended December 31, 2024. The company has announced a highly profitable year, marked by significant revenue growth and substantial investment in R&D, infrastructure, and strategic product launches.

FY2024 Financial Highlights

Total Revenue: Telix reported total revenue of $783.2 million, up by 56% from $502.5 million in 2023, surpassing full-year guidance of $745 to $776 million. This impressive growth is largely attributed to the continued strong performance of Illuccix®, a radiopharmaceutical used for diagnostic imaging in men with intermediate-risk and high-risk prostate cancer.

Profitable Growth: Despite the significant investment in R&D and expansion, Telix achieved its second consecutive year of profitable growth. Key figures include an R&D investment of $194.6 million, aligning with guidance, and an Adjusted EBITDA increase of 70% to $99.3 million, showcasing strong underlying business performance.

Infrastructure Expansion: Telix acquired ARTMS, Inc., IsoTherapeutics Group, LLC, and expanded its Brussels South facility, enhancing its global supply chain and product delivery infrastructure. These acquisitions and expansions will contribute incrementally to increased manufacturing and distribution capacity.

Strategic Growth Pillars

Grow Precision Medicine

Telix maintains its commitment to precision medicine, aiming to launch three new products—TLX007-CDx (Gozellix®), TLX101-CDx (Pixclara®), and TLX250-CDx (Zircaix®)—in 2025. Meanwhile, the company will continue to drive sales and market expansion of Illuccix®.

Deliver Late-Stage Therapeutics

The company is progressing its ProstACT GLOBAL Phase 3 prostate cancer therapy trial in the U.S. Additionally, Telix is advancing therapeutic trials for brain and kidney cancer programs, aimed at developing novel treatments for these aggressive and difficult-to-treat cancers.

Build Next Generation Pipeline

Telix achieved a key milestone in its pipeline development with the delivery of clinical proof-of-concept for the first alpha therapy candidate, TLX592, in prostate cancer. The company also strengthened its urology franchise by acquiring a FAP-targeting theranostic, further diversifying its portfolio.

Expand Global Delivery Infrastructure

Recent strategic acquisitions and facility expansions have bolstered Telix’s global footprint. Besides the aforementioned acquisitions, Telix completed the purchase of RLS (USA), Inc., and is set to commence GMP (Good Manufacturing Practice) production at its Brussels South facility in 2025.

Financial Summary

The financial summary table below highlights key financial metrics from FY2024 compared to FY2023.

CEO Commentary

CEO Dr. Christian Behrenbruch provided insight on the company’s performance:

“2024 has been an extraordinary year for Telix. We generated strong financial growth while investing for the future. The Precision Medicine business is poised for step-change growth with three commercial product launches planned for this year in the U.S. and the European rollout of Illuccix. We have a deep therapeutic pipeline with multiple assets moving into pivotal trials, and we are building out the infrastructure to ensure we can deliver our products to patients around the world. We see 2025 as a year of significant growth and evolution for Telix in terms of international business, multiple product launches, and the integration of key infrastructure that will further deliver on our mission to ensure global patient access.”

FY2025 Guidance

Telix has provided FY2025 revenue guidance of $1.18 billion to $1.23 billion (US$770 million to US$800 million at an average exchange rate of AU$1 = US$0.65), inclusive of revenue from Illuccix in jurisdictions with marketing authorization and 11 months of revenue from RLS (excluding RLS revenue generated from Illuccix). The company anticipates R&D expenditure to increase by 20% to 25% compared to FY2024.

Investor Call

An investor webcast will be held at 9.00am AEDT on Friday, February 21, 2025 (5.00pm EST, Thursday, February 20, 2025). Investors and analysts are encouraged to join this event to gain deeper insights into Telix’s financial performance and future projections.

About Telix Pharmaceuticals Limited

Telix Pharmaceuticals Limited is a biopharmaceutical company dedicated to the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies. Headquartered in Melbourne, Australia, Telix conducts international operations in the United States, Canada, Europe (Belgium and Switzerland), and Japan. Through a diversified portfolio of clinical and commercial stage products, Telix aims to address significant unmet medical needs in oncology and rare diseases. Key subsidiaries include ARTMS, IsoTherapeutics, Lightpoint, Optimal Tracers, and RLS.

For more information about Telix, including the latest share price, announcements, investor and analyst presentations, news releases, event details, and other publications, visit www.telixpharma.com. Follow Telix on LinkedIn, X, and Facebook.

Logo – https://mma.prnewswire.com/media/1920208/Telix_Main_Logo_Logo.jpg

Telix Investor Relations

Kyahn Williamson
Telix Pharmaceuticals Limited
SVP Investor Relations and Corporate Communications
Email: