The company's 1114% year-over-year revenue growth is primarily driven by non-recurring milestone payments rather than operational scale, resulting in a deeply negative operating margin of -1050%.
| Metric | Jun'25 | Jun'24 | Jun'23 | Jun'22 |
|---|
| Sales/Revenue | 3.63M | 299.23K | 292.36K | 8.83K |
| Revenue Growth % | 1114.27% | 2.35% | 3210.6% | - |
| Cost of Goods Sold | 3.59M | 0 | 0 | 0 |
| COGS % of Revenue | 98.92% | - | - | - |
| Gross Profit | 39.28K | 299.23K | 292.36K | 8.83K |
| Gross Margin % | 1.08% | 100% | 100% | 100% |
| Gross Profit Growth % | -86.87% | 2.35% | 3210.6% | - |
| Operating Expenses | 38.21M | 36.92M | 34.8M | 19.93M |
| OpEx % of Revenue | 1051.71% | 12338.44% | 11903.33% | 225627.71% |
| Selling, General & Admin | 16.53M | 15.22M | 13.02M | 10.85M |
| SG&A % of Revenue | 454.83% | 5085.81% | 4453.78% | 122839.04% |
| Research & Development | 27.52M | 17.56M | 13.8M | 4.12M |
| R&D % of Revenue | 757.28% | 5868.23% | 4720.37% | 46707.64% |
| Other Operating Expenses | -5.83M | 4.14M | 7.98M | 4.95M |
| Operating Income | -38.17M | -36.62M | -34.51M | -19.92M |
| Operating Margin % | -1050.63% | -12238.44% | -11803.33% | -225527.71% |
| Operating Income Growth % | -4.24% | -6.12% | -73.27% | - |
| EBITDA | -38.17M | -33.49M | -31.21M | -16.93M |
| EBITDA Margin % | -1050.43% | -11193.66% | -10675.76% | -191766.14% |
| EBITDA Growth % | -13.95% | -7.31% | -84.3% | - |
| D&A (Non-Cash Add-back) | 7.33K | 3.13M | 3.3M | 2.98M |
| EBIT | -38.17M | -47.21M | -34.49M | -20.94M |
| Net Interest Income | 333.11K | -592.4K | 58.94K | -9.35M |
| Interest Income | 888.2K | 50.48K | 145.03K | 0 |
| Interest Expense | 65.3K | 642.89K | 86.09K | 9.35M |
| Other Income/Expense | -65.3K | -11.23M | -65.1K | -10.38M |
| Pretax Income | -38.24M | -47.85M | -34.57M | -30.29M |
| Pretax Margin % | -1052.43% | -15992.07% | -11825.59% | -343048.15% |
| Income Tax | 103.29K | 96.36K | 38.01K | 44.4K |
| Effective Tax Rate % | -0.27% | -0.2% | -0.11% | -0.15% |
| Net Income | -38.34M | -47.95M | -34.61M | -30.34M |
| Net Margin % | -1055.27% | -16024.28% | -11838.59% | -343550.89% |
| Net Income Growth % | 20.04% | -38.54% | -14.08% | - |
| Net Income (Continuing) | -38.34M | -47.95M | -34.61M | -30.34M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | -1.92M | -769.28K | 1.19M | 0 |
| EPS (Diluted) | -5.28 | -36.00 | -33.00 | -29.76 |
| EPS Growth % | 85.33% | -9.09% | -10.89% | - |
| EPS (Basic) | -5.28 | -36.00 | -33.00 | -29.76 |
| Diluted Shares Outstanding | 6.94M | 1.29M | 1.02M | 1.02M |
| Basic Shares Outstanding | 6.94M | 1.29M | 1.02M | 1.02M |
| Dividend Payout Ratio | - | - | - | - |
Clinical trial funding dependency
According to reported financial disclosures, RADX experienced a 1114% year-over-year revenue surge, yet this figure appears to be driven by non-recurring milestone payments and R&D tax incentives rather than a sustainable, volume-based commercial trajectory typical of established healthcare entities in the radiopharmaceutical sector.
The extreme volatility in top-line growth suggests that investors should treat these figures as project-based inflows rather than indicators of recurring demand. This revenue profile is characteristic of early-stage biotech firms that rely on strategic partnerships to offset the high costs of clinical development.
As indicated by the company's financial profile, the operating margin of -1050% highlights a cost structure heavily weighted toward R&D and SG&A, which significantly dwarfs the minimal gross profit generated from current research-related activities and isotope procurement requirements.
The current expense discipline appears secondary to the necessity of funding multiple clinical trials simultaneously. Without a transition to a commercial-stage manufacturing model, these costs will likely continue to exert downward pressure on the company's overall financial health.
Based on the provided data, RADX lacks meaningful operating leverage, as the company's fixed-cost base for clinical trials and specialized isotope procurement continues to scale faster than any realized revenue, resulting in deeply negative operating margins that reflect a pre-commercial development stage.
The inability to amortize fixed costs over a larger volume of commercial activity suggests that the company is currently in a high-risk phase of capital deployment. Investors should monitor whether future milestone payments can provide the necessary scale to improve operating efficiency over the medium term.
While management has successfully secured strategic partnerships like Lantheus, the company's $29M cash runway appears insufficient to support its broad pipeline, raising concerns that the current growth strategy may be overly reliant on dilutive equity financing to sustain its diverse portfolio of assets.
Short-term observers may focus on the potential for clinical breakthroughs, but the fundamental risk remains the company's high cash burn relative to its limited liquidity. The strategy of pursuing multiple indications simultaneously may spread resources too thin, potentially jeopardizing the success of lead assets.
Quick answers to the most common questions about buying RADX stock.
For fiscal year 2024, Radiopharm Theranostics Limited (RADX) reported total revenue of $3.6M. This represents a 41043.9% increase compared to $0.0M in 2021.
Radiopharm Theranostics Limited (RADX) reported a net loss of $38.3M for the fiscal year ending 2024.
Radiopharm Theranostics Limited (RADX) reported an operating income of $-38.2M, resulting in an operating profit margin of -1050.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Radiopharm Theranostics Limited (RADX) generated $0.0M in gross profit for the year, representing a gross profit margin of 1.1%. This demonstrates the company's core pricing power and production efficiency.