What is Protalix BioTherapeutics' operating income?

Protalix BioTherapeutics' total operating income in 2025 was -$5.50 million, based on the following breakdown: Total Gross Profit: $25.75 million Total Operating Expenses: $31.25 million

Protalix BioTherapeutics (PLX) Financials

$3.13 +0.27 (+9.44%)

Closing price 11/11/2026 04:00 PM Eastern

Extended Trading

$3.05 -0.08 (-2.56%)

As of 08:34 AM Eastern

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Annual Income Statements for Protalix BioTherapeutics

This table shows Protalix BioTherapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	58	-29	-83	-26	-18	-6.52	-28	-15	8.31	2.93	-6.60
Consolidated Net Income / (Loss)	58	-29	-83	-26	-18	-6.52	-28	-15	8.31	2.93	-6.60
Net Income / (Loss) Continuing Operations	-27	-29	-83	-26	-18	-6.52	-28	-15	8.31	2.93	-6.60
Total Pre-Tax Income	-27	-29	-83	-26	-18	-6.52	-28	-14	8.57	4.15	-5.61
Total Operating Income	-24	-33	-35	-19	-11	2.71	-20	-13	10	3.92	-5.50
Total Gross Profit	3.63	0.80	5.85	-9.30	44	52	22	28	43	29	26
Total Revenue	4.36	9.20	21	0.00	55	63	38	48	65	53	53
Operating Revenue	4.36	9.20	21	-	55	63	38	48	65	53	53
Total Cost of Revenue	0.73	8.40	15	9.30	11	11	16	20	23	24	27
Operating Cost of Revenue	0.73	8.40	15	9.30	11	11	16	20	23	24	27
Total Operating Expenses	27	34	40	10	55	49	42	41	32	25	31
Selling, General & Admin Expense	7.28	9.36	12	11	9.90	11	13	12	15	12	12
Research & Development Expense	25	30	32	33	45	38	30	29	17	13	20
Total Other Income / (Expense), net	-3.61	3.99	-49	-7.15	-7.56	-9.23	-7.12	-1.38	-1.89	0.24	-0.11
Other Income / (Expense), net	-3.61	-10	-48	-7.15	-7.56	-9.23	-7.12	-1.38	-1.89	0.24	-0.11
Income Tax Expense	-	-	-	-	-	0.00	0.00	0.53	0.25	1.22	1.00
Basic Earnings per Share	$0.61	($0.29)	($6.37)	($1.80)	($1.23)	($0.22)	($0.62)	($0.31)	$0.12	$0.04	($0.08)
Weighted Average Basic Shares Outstanding	94.92M	101.39M	13.11M	14.71M	14.84M	29.15M	44.14M	48.47M	67.51M	72.53M	78.55M
Diluted Earnings per Share	$0.61	($0.29)	($6.37)	($1.80)	($1.23)	($0.22)	($0.62)	($0.31)	$0.09	$0.04	($0.08)
Weighted Average Diluted Shares Outstanding	94.92M	101.39M	13.11M	14.71M	14.84M	29.15M	44.14M	48.47M	82.42M	81.06M	78.55M
Weighted Average Basic & Diluted Shares Outstanding	94.92M	101.39M	13.11M	14.71M	14.84M	29.15M	46.32M	57.35M	73.05M	78.03M	80.57M

This table shows Protalix BioTherapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026	9/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-4.60	-2.20	3.24	6.49	-3.62	0.16	2.36	-5.50	18	3.78	3.96
Consolidated Net Income / (Loss)	-4.60	-2.20	3.24	6.49	-3.62	0.16	2.36	-5.50	18	3.78	3.96
Net Income / (Loss) Continuing Operations	-4.60	-2.20	3.24	6.49	-3.62	0.16	2.36	-5.50	18	3.78	3.96
Total Pre-Tax Income	-4.73	-2.27	3.84	7.32	-3.73	0.66	2.24	-4.78	21	4.86	4.62
Total Operating Income	-4.86	-2.43	3.99	7.21	-4.15	1.17	2.13	-4.66	21	4.67	4.05
Total Gross Profit	1.15	4.02	9.58	14	1.93	9.79	9.53	4.50	30	12	14
Total Revenue	3.75	13	18	18	10	16	18	9.12	34	20	22
Operating Revenue	3.75	13	18	18	10	16	18	9.12	34	20	22
Total Cost of Revenue	2.60	9.46	8.38	3.89	8.18	5.87	8.32	4.62	4.13	7.76	7.88
Operating Cost of Revenue	2.60	9.46	8.38	3.89	8.18	5.87	8.32	4.62	4.13	7.76	7.88
Total Operating Expenses	6.00	6.45	5.59	7.12	6.08	8.62	7.40	9.16	8.48	7.46	10
Selling, General & Admin Expense	3.12	3.48	2.60	3.00	2.60	2.62	2.93	3.53	3.05	3.11	3.08
Research & Development Expense	2.89	2.96	3.00	4.12	3.48	5.99	4.47	5.64	5.43	4.35	6.92
Total Other Income / (Expense), net	0.12	0.16	-0.15	0.11	0.41	-0.51	0.11	-0.12	-0.01	0.19	0.58
Other Income / (Expense), net	0.12	0.16	-0.15	0.11	0.41	-0.51	0.11	-0.12	-0.01	0.19	0.58
Income Tax Expense	-0.14	-0.07	0.61	0.82	-0.11	0.50	-0.12	0.73	2.82	1.08	0.66
Basic Earnings per Share	($0.06)	($0.03)	$0.04	$0.09	($0.05)	$0.00	$0.03	($0.06)	$0.23	$0.05	$0.05
Weighted Average Basic Shares Outstanding	73.04M	73.31M	73.55M	72.53M	76.61M	78.66M	79.28M	78.55M	79.85M	79.99M	80.46M
Diluted Earnings per Share	($0.06)	($0.03)	$0.03	$0.10	($0.05)	$0.00	$0.03	($0.06)	$0.22	$0.05	$0.05
Weighted Average Diluted Shares Outstanding	73.04M	73.31M	81.22M	81.06M	76.61M	81.27M	80.81M	78.55M	83.05M	82.56M	83.59M
Weighted Average Basic & Diluted Shares Outstanding	73.32M	73.54M	73.63M	78.03M	79.61M	79.73M	80.42M	80.57M	80.57M	80.57M	84.32M

This table details how cash moves in and out of Protalix BioTherapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	22	-13	-12	-13	-20	0.47	21	-22	6.52	-3.87	-5.08
Net Cash From Operating Activities	-24	-32	-9.99	-7.74	-19	-26	-10	-25	-1.32	8.67	-12
Net Cash From Continuing Operating Activities	-26	-32	-9.99	-7.74	-19	-26	-10	-25	-1.32	8.67	-12
Net Income / (Loss) Continuing Operations	-27	-29	-83	-26	-18	-6.52	-28	-15	8.31	2.93	-6.60
Consolidated Net Income / (Loss)	58	-29	-83	-26	-18	-6.52	-28	-15	8.31	2.93	-6.60
Depreciation Expense	2.37	1.98	1.92	1.67	1.62	1.30	1.12	1.09	1.19	1.30	1.47
Amortization Expense	0.45	0.57	2.33	2.60	2.99	3.47	2.67	0.30	0.27	0.00	0.00
Non-Cash Adjustments To Reconcile Net Income	2.00	-6.58	42	0.92	1.04	2.87	3.85	0.55	2.56	3.39	2.89
Changes in Operating Assets and Liabilities, net	-3.30	1.12	27	14	-6.73	-27	9.66	-12	-14	1.05	-9.74
Net Cash From Investing Activities	39	-0.97	-1.12	-0.59	-0.88	-20	19	-5.04	-17	4.22	-2.37
Net Cash From Continuing Investing Activities	-0.51	-0.97	-1.12	-0.59	-0.88	-20	19	-5.04	-17	4.22	-2.37
Purchase of Property, Plant & Equipment	-0.46	-0.85	-0.97	-0.69	-0.63	-0.66	-1.46	-0.63	-1.15	-1.28	-1.64
Sale of Property, Plant & Equipment	0.00	0.02	0.00	-	0.00	0.00	0.05	0.00	0.00	0.00	0.00
Other Investing Activities, net	-0.05	-0.14	-0.15	0.03	0.00	-19	20	-4.41	-16	5.50	-0.73
Net Cash From Financing Activities	6.64	20	-1.42	-4.75	0.00	46	12	8.24	25	-17	9.33
Net Cash From Continuing Financing Activities	6.64	20	-1.42	-4.75	0.00	46	12	8.24	25	-17	9.33
Repayment of Debt	-	-	-11	-4.75	0.00	-0.22	-34	0.00	0.00	-20	0.00
Issuance of Common Equity	6.10	-	-	0.00	0.00	46	46	8.24	24	3.63	6.81
Other Financing Activities, net	0.53	0.01	-	0.00	0.00	0.47	0.00	0.00	0.71	0.00	2.51
Effect of Exchange Rate Changes	-0.13	0.28	0.41	-0.27	0.23	0.06	0.01	-0.08	-0.11	0.03	-0.05
Cash Interest Paid	3.11	3.66	4.85	4.59	4.34	4.34	3.41	2.20	2.74	1.53	0.00
Cash Interest Received	-	-	-	0.40	0.41	0.44	0.38	0.09	0.36	1.49	0.65
Cash Income Taxes Paid	-	-	-	-	-	-	-	0.00	0.00	0.39	1.18

This table details how cash moves in and out of Protalix BioTherapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026	9/30/2026
Net Change in Cash & Equivalents	3.58	-3.81	4.01	-7.65	-0.30	-1.56	-4.25	1.03	26	-14	-5.39
Net Cash From Operating Activities	4.19	-3.61	4.11	3.99	-5.06	-5.23	-3.73	2.03	22	-10	3.90
Net Cash From Continuing Operating Activities	4.19	-3.61	4.11	3.99	-5.06	-5.23	-3.73	2.03	22	-10	3.90
Net Income / (Loss) Continuing Operations	-4.60	-2.20	3.24	6.49	-3.62	0.16	2.36	-5.50	18	3.78	3.96
Consolidated Net Income / (Loss)	-4.60	-2.20	3.24	6.49	-3.62	0.16	2.36	-5.50	18	3.78	3.96
Depreciation Expense	0.32	0.32	0.33	0.33	0.35	0.36	0.37	0.39	0.40	0.41	0.42
Non-Cash Adjustments To Reconcile Net Income	0.53	0.50	1.76	0.59	0.15	0.89	0.59	1.26	0.75	-1.16	-0.77
Changes in Operating Assets and Liabilities, net	7.93	-2.23	-1.22	-3.43	-1.94	-6.65	-7.05	5.89	2.55	-13	0.29
Net Cash From Investing Activities	-0.61	-0.18	20	-15	-0.31	-0.44	-0.50	-1.11	4.22	-3.64	-14
Net Cash From Continuing Investing Activities	-0.61	-0.18	20	-15	-0.31	-0.44	-0.50	-1.11	4.22	-3.64	-14
Purchase of Property, Plant & Equipment	-0.60	-0.17	-0.09	-0.43	-0.31	-0.43	-0.50	-0.40	-0.76	-0.59	-0.74
Other Investing Activities, net	-0.01	-0.01	20	-15	-0.01	-0.01	-0.01	-0.71	4.98	-3.04	-13
Net Cash From Financing Activities	0.00	-	-20	3.63	5.08	4.10	-	0.15	0.15	-	4.58
Net Cash From Continuing Financing Activities	0.00	-	-20	3.63	5.08	4.10	-	0.15	0.15	-	4.58
Issuance of Common Equity	0.00	-	-	3.63	2.86	3.95	-	-	0.00	-	4.21
Other Financing Activities, net	0.00	-	-	-	2.22	0.15	-	0.15	0.15	-	0.37
Effect of Exchange Rate Changes	-0.01	-0.02	-0.00	0.05	-0.01	0.00	-0.01	-0.03	-0.08	0.45	-0.06
Cash Income Taxes Paid	-	-	-	-	0.00	-	-	0.00	2.50	-	1.87

This table presents Protalix BioTherapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	97	82	72	61	45	68	74	56	84	73	82
Total Current Assets	86	72	63	53	32	56	62	45	70	60	67
Cash & Equivalents	76	63	51	38	18	18	39	17	24	20	15
Restricted Cash	-	-	-	-	-	-	-	-	-	0.00	0.70
Accounts Receivable	-	0.69	1.72	4.73	4.70	2.00	3.44	4.59	5.27	2.91	8.84
Inventories, net	5.77	5.25	7.83	8.57	8.16	13	18	17	19	21	26
Other Current Assets	1.67	2.65	1.93	1.88	1.83	22	1.29	6.38	22	16	17
Plant, Property, & Equipment, net	9.74	8.70	7.68	6.39	5.27	4.85	4.96	4.55	4.97	4.59	4.88
Total Noncurrent Assets	1.63	1.68	1.89	1.76	7.64	7.37	7.04	6.35	9.53	8.75	11
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	-	-	0.00
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	0.00	3.09	2.86	2.52
Employee Benefit Assets	1.63	1.68	1.89	1.76	1.96	1.80	2.08	1.27	0.53	0.46	0.58
Other Noncurrent Operating Assets	-	-	-	0.00	5.68	5.57	4.96	5.09	5.91	5.43	7.70
Total Liabilities & Shareholders' Equity	97	82	72	61	45	68	74	56	84	73	82
Total Liabilities	86	92	102	114	116	95	80	66	51	30	34
Total Current Liabilities	11	66	23	25	40	86	33	32	46	26	27
Accounts Payable	9.16	12	17	15	18	21	23	18	4.32	4.53	5.26
Other Current Liabilities	-	-	-	9.87	17	6.81	1.21	14	21	21	21
Total Noncurrent Liabilities	75	26	79	89	76	8.50	47	34	5.34	4.59	7.60
Capital Lease Obligations	-	-	-	0.00	4.53	4.47	-	4.17	4.62	-	6.94
Noncurrent Employee Benefit Liabilities	2.30	2.35	2.59	2.37	2.57	2.26	2.47	1.64	0.71	0.56	0.66
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	11	-9.96	-29	-53	-70	-27	-6.04	-11	34	43	48
Total Preferred & Common Equity	11	-9.96	-29	-53	-70	-27	-6.04	-11	34	43	48
Total Common Equity	11	-9.96	-29	-53	-70	-27	-6.04	-11	34	43	48
Common Stock	194	203	267	270	271	320	369	379	415	422	48

This table presents Protalix BioTherapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026	9/30/2026
Total Assets	88	90	92	62	74	78	82	102	110	118
Total Current Assets	73	75	77	48	61	65	67	86	92	99
Cash & Equivalents	20	27	23	27	19	18	14	41	27	22
Restricted Cash	-	-	-	-	-	-	-	0.71	0.72	0.73
Accounts Receivable	8.94	3.76	10	2.20	4.68	9.44	14	2.94	17	14
Inventories, net	22	22	21	17	20	21	21	30	32	34
Other Current Assets	22	22	23	1.05	17	17	17	11	15	28
Plant, Property, & Equipment, net	4.68	4.78	4.61	4.65	4.73	4.75	4.72	5.15	5.47	5.77
Total Noncurrent Assets	10	9.64	9.56	9.06	8.65	8.26	11	11	13	14
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	2.10	3.03
Noncurrent Deferred & Refundable Income Taxes	3.09	3.23	3.30	2.86	2.97	2.74	2.68	2.45	2.37	2.30
Employee Benefit Assets	1.26	0.53	0.54	0.56	0.46	0.52	0.55	0.59	0.00	0.00
Other Noncurrent Operating Assets	5.92	5.88	5.73	5.65	5.23	5.00	7.81	7.79	8.18	8.27
Total Liabilities & Shareholders' Equity	88	90	92	62	74	78	82	102	110	118
Total Liabilities	49	60	63	29	29	29	29	35	39	38
Total Current Liabilities	43	55	58	24	24	24	22	27	31	30
Accounts Payable	22	22	23	23	4.12	6.69	5.38	4.29	6.51	4.78
Other Current Liabilities	1.31	12	14	1.51	20	17	17	23	25	25
Total Noncurrent Liabilities	5.96	5.21	4.99	4.91	4.36	4.49	7.41	7.72	7.54	7.46
Noncurrent Employee Benefit Liabilities	1.46	0.71	0.71	0.73	0.55	0.62	0.63	0.67	0.00	0.00
Other Noncurrent Operating Liabilities	-	4.50	-	-	3.81	-	-	7.05	-	7.46
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	38	30	29	32	45	50	53	67	71	81
Total Preferred & Common Equity	38	30	29	32	45	50	53	67	71	81
Total Common Equity	38	30	29	32	45	50	53	67	71	81
Common Stock	38	30	29	32	45	50	53	67	71	81

This table displays calculated financial ratios and metrics derived from Protalix BioTherapeutics' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	99,800,397.00	99,930,402.00	139,727,673.00	296,749,842.00	148,382,299.00	33,336,709.00	45,556,647.00	50,665,598.00	72,952,124.00	-	80,421,181.00
DEI Adjusted Shares Outstanding	9,980,040.00	9,993,040.00	13,972,767.00	29,674,984.00	14,838,230.00	33,336,709.00	45,556,647.00	50,665,598.00	72,952,124.00	-	80,421,181.00
DEI Earnings Per Adjusted Shares Outstanding	5.82	-2.94	-5.97	-0.89	-1.23	-0.20	-0.61	-0.29	0.11	-	-0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.87%	110.79%	129.13%	-100.00%	0.00%	15.00%	-39.03%	24.22%	37.48%	-18.47%	-1.23%
EBITDA Growth	17.66%	-66.30%	-91.36%	71.51%	38.39%	87.19%	-1,258.71%	45.31%	177.04%	-45.55%	-175.91%
EBIT Growth	18.07%	-58.49%	-89.91%	67.78%	30.92%	64.31%	-322.84%	47.80%	159.50%	-51.51%	-235.00%
NOPAT Growth	17.12%	-40.11%	-4.08%	44.06%	44.49%	125.29%	-855.06%	36.40%	211.42%	-72.76%	-239.25%
Net Income Growth	293.82%	-150.60%	-184.15%	68.29%	30.92%	64.31%	-322.84%	45.88%	155.68%	-64.73%	-325.24%
EPS Growth	290.63%	-147.54%	-184.15%	68.29%	31.67%	82.11%	-181.82%	50.00%	129.03%	-55.56%	-300.00%
Operating Cash Flow Growth	17.07%	-32.18%	68.86%	22.53%	-150.04%	-34.86%	60.60%	-143.07%	94.73%	758.12%	-238.26%
Free Cash Flow Firm Growth	73.85%	4.72%	124.84%	-81.74%	-2,923.95%	-101.44%	146.45%	-250.57%	35.00%	170.42%	-193.81%
Invested Capital Growth	29.24%	-100.38%	-123,517.39%	-50.26%	33.69%	162.40%	-196.92%	126.88%	655.85%	-32.63%	40.07%
Revenue Q/Q Growth	174.10%	29.24%	11.80%	-100.00%	319.20%	59.17%	-45.94%	0.14%	2.94%	16.93%	-14.71%
EBITDA Q/Q Growth	11.21%	-24.70%	6.09%	22.85%	29.90%	6.06%	-49.85%	20.93%	-24.17%	166.19%	-152.47%
EBIT Q/Q Growth	10.65%	-23.11%	5.42%	19.83%	23.85%	1.60%	-34.43%	19.36%	-27.30%	143.33%	-186.49%
NOPAT Q/Q Growth	10.36%	-3.17%	-2.56%	23.44%	35.40%	30.85%	-71.70%	19.79%	-17.05%	144.34%	-172.69%
Net Income Q/Q Growth	348.74%	-163.62%	-14.68%	22.93%	23.85%	1.60%	-34.43%	16.39%	-21.70%	130.52%	-222.43%
EPS Q/Q Growth	256.41%	-159.18%	-14.68%	22.93%	24.07%	-10.00%	-37.78%	13.89%	125.00%	144.44%	-200.00%
Operating Cash Flow Q/Q Growth	4.02%	-12.16%	71.38%	-155.89%	1.61%	-17.37%	19.32%	9.01%	82.48%	4.78%	-19.55%
Free Cash Flow Firm Q/Q Growth	25.69%	72.93%	119.35%	-97.32%	-32.65%	14.62%	252.31%	-4,723.89%	1.65%	-47.88%	58.00%
Invested Capital Q/Q Growth	117.41%	-100.40%	-798.06%	-0.55%	24.65%	13.93%	-183.07%	-53.52%	-18.16%	154.79%	-28.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	83.27%	8.71%	27.74%	0.00%	80.08%	82.71%	57.37%	58.87%	64.91%	54.46%	48.82%
EBITDA Margin	-560.66%	-442.31%	-369.39%	0.00%	-24.99%	-2.78%	-62.04%	-27.31%	15.31%	10.22%	-7.85%
Operating Margin	-542.39%	-360.51%	-163.76%	0.00%	-19.59%	4.31%	-53.36%	-27.32%	15.97%	7.34%	-10.43%
EBIT Margin	-625.16%	-470.04%	-389.58%	0.00%	-33.42%	-10.37%	-71.92%	-30.22%	13.08%	7.78%	-10.63%
Profit (Net Income) Margin	1,329.90%	-319.22%	-395.86%	0.00%	-33.42%	-10.37%	-71.92%	-31.33%	12.69%	5.49%	-12.52%
Tax Burden Percent	-212.73%	100.65%	100.00%	100.00%	100.00%	100.00%	100.00%	103.68%	97.03%	70.58%	117.76%
Interest Burden Percent	100.00%	67.48%	101.61%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.97%	29.42%	0.00%
Return on Invested Capital (ROIC)	-306.72%	-765.13%	0.00%	0.00%	0.00%	0.00%	-5,265.96%	0.00%	51.51%	9.49%	-13.68%
ROIC Less NNEP Spread (ROIC-NNEP)	-38.02%	-1,003.91%	0.00%	0.00%	0.00%	0.00%	-5,344.84%	0.00%	29.21%	7.69%	2.00%
Return on Net Nonoperating Assets (RNNOA)	47.21%	-5,646.44%	0.00%	0.00%	0.00%	0.00%	5,432.75%	0.00%	21.00%	-1.85%	-0.77%
Return on Equity (ROE)	-259.51%	-6,411.57%	423.40%	64.26%	29.67%	13.40%	166.79%	179.02%	72.50%	7.64%	-14.44%
Cash Return on Invested Capital (CROIC)	-332.23%	0.00%	0.00%	0.00%	0.00%	-249.51%	0.00%	-669.90%	-101.76%	48.48%	-47.06%
Operating Return on Assets (OROA)	-31.07%	-48.18%	-106.32%	0.00%	-34.31%	-11.51%	-38.96%	-22.24%	12.22%	5.26%	-7.20%
Return on Assets (ROA)	66.10%	-32.72%	-108.04%	0.00%	-34.31%	-11.51%	-38.96%	-23.06%	11.86%	3.71%	-8.48%
Return on Common Equity (ROCE)	-259.51%	-6,411.57%	423.40%	64.26%	29.67%	13.40%	166.79%	179.02%	72.50%	7.64%	-14.44%
Return on Equity Simple (ROE_SIMPLE)	533.77%	294.92%	283.26%	50.03%	25.99%	24.13%	456.96%	140.29%	0.00%	6.79%	0.00%
Net Operating Profit after Tax (NOPAT)	-17	-23	-24	-14	-7.50	1.90	-14	-9.11	10	2.76	-3.85
NOPAT Margin	-379.67%	-252.35%	-114.63%	0.00%	-13.72%	3.02%	-37.35%	-19.12%	15.50%	5.18%	-7.30%
Net Nonoperating Expense Percent (NNEP)	-268.70%	238.78%	1,081.82%	231.45%	41.32%	19.42%	78.88%	280.55%	22.30%	1.81%	-15.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-41.95%	17.37%	6.40%	-7.98%
Cost of Revenue to Revenue	16.73%	91.29%	72.26%	0.00%	19.92%	17.29%	42.63%	41.13%	35.09%	45.54%	51.18%
SG&A Expenses to Revenue	166.80%	101.71%	54.70%	0.00%	18.10%	17.72%	33.19%	24.58%	22.84%	22.83%	22.15%
R&D to Revenue	570.33%	330.60%	152.62%	0.00%	81.58%	60.68%	77.53%	61.61%	26.10%	24.29%	37.10%
Operating Expenses to Revenue	625.66%	369.21%	191.50%	0.00%	99.67%	78.40%	110.72%	86.19%	48.94%	47.12%	59.25%
Earnings before Interest and Taxes (EBIT)	-27	-43	-82	-26	-18	-6.52	-28	-14	8.57	4.15	-5.61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-24	-41	-78	-22	-14	-1.75	-24	-13	10	5.46	-4.14
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.87	3.20	3.00
Price to Tangible Book Value (P/TBV)	9.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.87	3.20	3.00
Price to Revenue (P/Rev)	23.33	4.83	4.38	0.00	0.89	1.92	0.99	1.46	1.98	2.59	2.74
Price to Earnings (P/E)	1.75	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.62	47.21	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	57.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.40%	2.12%	0.00%
Enterprise Value to Invested Capital (EV/IC)	16.01	0.00	0.00	0.00	0.00	9.37	0.00	18.38	3.77	5.06	3.94
Enterprise Value to Revenue (EV/Rev)	22.35	5.91	4.43	0.00	1.66	2.63	0.70	1.78	2.00	2.22	2.45
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.08	21.74	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.30	28.57	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	87.36	0.00	0.00	12.92	42.92	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.68	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	21.99	72.61	0.00	0.00	1.31	0.00	0.00	8.40	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.63	-7.35	-1.77	-0.91	-0.85	-2.33	-4.62	-3.04	0.74	0.00	0.00
Long-Term Debt to Equity	6.63	-1.94	-1.57	-0.91	-0.79	-0.17	-4.62	-3.04	0.14	0.00	0.00
Financial Leverage	-1.24	5.62	-0.28	-0.14	-0.42	-0.89	-1.02	-0.25	0.72	-0.24	-0.38
Leverage Ratio	-3.93	195.96	-3.92	-1.62	-0.86	-1.16	-4.28	-7.76	6.12	2.06	1.70
Compound Leverage Factor	-3.93	132.23	-3.98	-1.62	-0.86	-1.16	-4.28	-7.76	6.12	2.06	1.70
Debt to Total Capital	86.90%	115.74%	229.59%	-975.91%	-567.45%	175.22%	127.62%	149.00%	42.56%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	85.16%	26.05%	0.00%	-40.82%	162.79%	0.00%	0.00%	34.65%	0.00%	0.00%
Long-Term Debt to Total Capital	86.90%	30.58%	203.54%	-975.91%	-526.62%	12.43%	127.62%	149.00%	7.91%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	13.10%	-15.74%	-129.59%	1,075.91%	667.45%	-75.22%	-27.62%	-49.00%	57.44%	100.00%	100.00%
Debt to EBITDA	-2.95	-1.80	-0.67	-2.16	-4.37	-35.97	-1.17	-2.49	2.48	0.00	0.00
Net Debt to EBITDA	0.17	-0.24	-0.01	-0.46	-3.07	-25.54	0.47	-1.17	0.12	0.00	0.00
Long-Term Debt to EBITDA	-2.95	-0.48	-0.59	-2.16	-4.06	-2.55	-1.17	-2.49	0.46	0.00	0.00
Debt to NOPAT	-4.35	-3.15	-2.16	-3.55	-7.97	33.20	-1.95	-3.55	2.45	0.00	0.00
Net Debt to NOPAT	0.26	-0.43	-0.04	-0.75	-5.60	23.57	0.77	-1.67	0.12	0.00	0.00
Long-Term Debt to NOPAT	-4.35	-0.83	-1.91	-3.55	-7.40	2.35	-1.95	-3.55	0.46	0.00	0.00
Altman Z-Score	-1.89	-4.87	-7.99	-8.03	-10.59	-6.33	-7.09	-8.89	-3.34	-2.99	3.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.64	1.09	2.75	2.09	0.81	0.64	1.86	1.38	1.54	2.34	2.51
Quick Ratio	6.80	0.97	2.32	1.68	0.56	0.23	1.28	0.67	0.63	0.88	0.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-18	-17	4.25	0.78	-22	-44	20	-31	-20	14	-13
Operating Cash Flow to CapEx	-5,267.68%	-3,871.89%	-1,032.44%	-1,128.57%	-3,087.40%	-3,985.65%	-731.51%	-3,980.89%	-114.71%	678.19%	-732.17%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	3.21	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	-7.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-8.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.10	0.27	0.00	1.03	1.11	0.54	0.74	0.93	0.68	0.68
Accounts Receivable Turnover	0.00	0.00	17.46	0.00	11.60	18.78	14.09	11.87	13.29	13.05	8.98
Inventory Turnover	0.16	1.53	2.33	1.13	1.30	1.02	1.05	1.13	1.28	1.21	1.15
Fixed Asset Turnover	0.42	1.00	2.57	0.00	9.38	12.43	7.82	10.01	13.75	11.17	11.14
Accounts Payable Turnover	0.07	0.81	1.08	0.58	0.64	0.55	0.73	0.94	2.05	5.49	5.51
Days Sales Outstanding (DSO)	0.00	0.00	20.90	0.00	31.46	19.44	25.90	30.76	27.47	27.96	40.65
Days Inventory Outstanding (DIO)	2,304.50	239.31	156.70	321.80	280.14	356.46	346.45	323.77	284.68	302.34	317.58
Days Payable Outstanding (DPO)	4,950.25	449.10	339.50	634.02	567.60	663.78	497.48	387.06	178.30	66.44	66.20
Cash Conversion Cycle (CCC)	-2,645.75	-209.79	-161.90	0.00	-256.00	-287.89	-125.13	-32.53	133.85	263.86	292.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6.09	-0.02	-28	-43	-28	18	-17	4.61	35	23	33
Invested Capital Turnover	0.81	3.03	-1.48	0.00	-1.54	-11.81	140.99	-7.60	3.32	1.83	1.87
Increase / (Decrease) in Invested Capital	1.38	-6.11	-28	-14	14	46	-35	22	30	-11	9.40
Enterprise Value (EV)	98	54	93	56	91	166	27	85	131	119	129
Market Capitalization	102	44	92	46	49	121	38	69	130	138	145
Book Value per Share	$0.11	($0.10)	($0.21)	($0.36)	($0.47)	($0.81)	($0.13)	($0.21)	$0.46	$0.59	$0.60
Tangible Book Value per Share	$0.11	($0.10)	($0.21)	($0.36)	($0.47)	($0.81)	($0.13)	($0.21)	$0.46	$0.59	$0.60
Total Capital	83	63	23	-4.92	-11	36	22	22	58	43	48
Total Debt	72	73	52	48	60	63	28	32	25	0.00	0.00
Total Long-Term Debt	72	19	46	48	55	4.47	28	32	4.62	0.00	0.00
Net Debt	-4.28	9.93	1.03	10	42	45	-11	15	1.24	-20	-15
Capital Expenditures (CapEx)	0.46	0.83	0.97	0.69	0.63	0.66	1.41	0.63	1.15	1.28	1.64
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.73	-3.75	-5.34	-10	-21	9.50	-10	-4.66	21	15	25
Debt-free Net Working Capital (DFNWC)	75	60	46	28	-3.40	28	28	12	45	34	40
Net Working Capital (NWC)	75	5.66	40	28	-7.70	-31	28	12	24	34	40
Net Nonoperating Expense (NNE)	-75	6.15	59	13	11	8.42	13	5.82	1.84	-0.17	2.75
Net Nonoperating Obligations (NNO)	-4.78	9.93	1.03	10	42	45	-11	15	1.24	-20	-15
Total Depreciation and Amortization (D&A)	2.82	2.55	4.25	4.27	4.61	4.77	3.79	1.39	1.46	1.30	1.47
Debt-free, Cash-free Net Working Capital to Revenue	-39.60%	-40.81%	-25.35%	0.00%	-38.74%	15.10%	-27.37%	-9.78%	32.09%	27.52%	46.97%
Debt-free Net Working Capital to Revenue	1,710.50%	647.10%	217.38%	0.00%	-6.21%	44.14%	74.29%	26.14%	68.18%	64.53%	76.13%
Net Working Capital to Revenue	1,710.50%	61.47%	189.29%	0.00%	-14.07%	-48.89%	74.29%	26.14%	37.26%	64.53%	76.13%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.10	($2.90)	($6.50)	($1.80)	($1.23)	($0.22)	($0.62)	($0.31)	$0.12	$0.04	($0.08)
Adjusted Weighted Average Basic Shares Outstanding	9.98M	12.41M	14.56M	14.84M	14.84M	45.38M	44.14M	48.47M	67.51M	72.53M	78.55M
Adjusted Diluted Earnings per Share	$6.10	($2.90)	($6.50)	($1.80)	($1.23)	($0.22)	($0.62)	($0.31)	$0.09	$0.04	($0.08)
Adjusted Weighted Average Diluted Shares Outstanding	9.98M	12.41M	14.56M	14.84M	14.84M	45.38M	44.14M	48.47M	82.42M	81.06M	78.55M
Adjusted Basic & Diluted Earnings per Share	$6.10	($2.90)	($6.50)	($1.80)	($1.23)	($0.22)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.49M	10.14M	13.11M	14.71M	14.84M	29.15M	46.32M	57.35M	73.05M	78.03M	80.57M
Normalized Net Operating Profit after Tax (NOPAT)	-17	-23	-24	-14	-7.50	1.90	-14	-9.11	10	2.76	-3.85
Normalized NOPAT Margin	-379.67%	-252.35%	-114.63%	0.00%	-13.72%	3.02%	-37.35%	-19.12%	15.50%	5.18%	-7.30%
Pre Tax Income Margin	-625.16%	-317.16%	-395.86%	0.00%	-33.42%	-10.37%	-71.92%	-30.22%	13.08%	7.78%	-10.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-61.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	-18.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	-62.70	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	-18.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Protalix BioTherapeutics' official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026	9/30/2026
DEI Shares Outstanding	73,052,124.00	73,316,084.00	73,542,674.00	-	78,032,585.00	79,607,115.00	79,732,115.00	80,421,181.00	80,571,642.00	80,571,642.00	80,571,642.00
DEI Adjusted Shares Outstanding	73,052,124.00	73,316,084.00	73,542,674.00	-	78,032,585.00	79,607,115.00	79,732,115.00	80,421,181.00	80,571,642.00	80,571,642.00	80,571,642.00
DEI Earnings Per Adjusted Shares Outstanding	-0.06	-0.03	0.04	-	-0.05	0.00	0.03	-0.07	0.23	0.05	0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-60.91%	-61.59%	73.60%	73.74%	169.82%	16.21%	-0.60%	-49.93%	233.73%	27.07%	22.82%
EBITDA Growth	-71.23%	-109.76%	408.12%	226.36%	23.24%	152.28%	-37.42%	-157.37%	736.30%	415.77%	93.14%
EBIT Growth	-61.21%	-111.56%	323.56%	213.85%	21.15%	129.09%	-41.74%	-165.28%	666.48%	635.25%	106.43%
NOPAT Growth	-97.48%	-108.45%	354.42%	262.80%	14.64%	117.12%	-33.30%	-150.95%	731.44%	1,148.66%	54.73%
Net Income Growth	-46.76%	-111.39%	274.73%	207.45%	21.24%	107.44%	-27.23%	-184.76%	606.13%	2,203.05%	68.20%
EPS Growth	-20.00%	-114.29%	175.00%	433.33%	16.67%	100.00%	0.00%	-160.00%	540.00%	0.00%	66.67%
Operating Cash Flow Growth	239.69%	-172.59%	159.60%	11.02%	-220.77%	-44.96%	-190.91%	-49.14%	535.45%	-98.74%	204.61%
Free Cash Flow Firm Growth	-558.75%	-210.36%	208.08%	152.02%	78.26%	72.33%	-194.29%	-171.29%	428.13%	-97.70%	76.08%
Invested Capital Growth	5,781.59%	172.94%	-78.36%	-32.63%	11.97%	20.08%	400.23%	40.07%	-0.90%	41.58%	25.51%
Revenue Q/Q Growth	-64.26%	259.50%	33.29%	1.44%	-44.49%	54.83%	14.01%	-48.90%	269.98%	-41.05%	10.20%
EBITDA Q/Q Growth	27.14%	55.72%	313.62%	83.37%	-144.26%	130.15%	155.73%	-268.10%	590.89%	-75.56%	-4.23%
EBIT Q/Q Growth	26.35%	52.00%	269.15%	90.37%	-151.01%	117.71%	238.73%	-313.31%	542.65%	-77.01%	-4.90%
NOPAT Q/Q Growth	13.52%	50.02%	297.81%	90.41%	-145.34%	110.02%	670.82%	-245.47%	661.90%	-80.18%	-4.48%
Net Income Q/Q Growth	23.97%	52.06%	246.89%	100.68%	-155.73%	104.53%	1,335.98%	-333.72%	432.79%	-79.38%	4.87%
EPS Q/Q Growth	-100.00%	50.00%	200.00%	233.33%	-150.00%	100.00%	0.00%	-300.00%	466.67%	-77.27%	0.00%
Operating Cash Flow Q/Q Growth	16.50%	-186.20%	213.71%	-2.78%	-226.74%	-3.46%	28.68%	154.39%	984.98%	-147.22%	137.54%
Free Cash Flow Firm Q/Q Growth	23.81%	20.65%	277.81%	-51.61%	-131.85%	-0.99%	-505.85%	63.41%	246.59%	-160.84%	26.69%
Invested Capital Q/Q Growth	-33.93%	29.95%	-69.20%	154.79%	9.80%	39.36%	28.30%	-28.65%	-22.32%	99.10%	13.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.58%	29.82%	53.37%	78.67%	19.11%	62.51%	53.37%	49.36%	87.77%	60.99%	64.08%
EBITDA Margin	-117.69%	-14.49%	23.23%	41.99%	-33.48%	6.52%	14.63%	-48.11%	63.84%	26.47%	23.00%
Operating Margin	-129.56%	-18.01%	22.22%	39.57%	-40.99%	7.49%	11.94%	-51.06%	62.65%	23.48%	18.46%
EBIT Margin	-126.28%	-16.86%	21.40%	40.16%	-36.90%	4.22%	12.54%	-52.36%	62.64%	24.43%	21.08%
Profit (Net Income) Margin	-122.60%	-16.35%	18.02%	35.65%	-35.79%	1.05%	13.19%	-60.34%	54.27%	18.98%	18.07%
Tax Burden Percent	97.08%	96.96%	84.21%	88.76%	96.97%	24.81%	105.18%	115.24%	86.64%	77.72%	85.70%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	15.80%	11.24%	0.00%	75.19%	-5.18%	0.00%	13.36%	22.28%	14.30%
Return on Invested Capital (ROIC)	-462.65%	-23.50%	33.03%	64.39%	-70.35%	3.50%	28.11%	-66.97%	161.76%	33.94%	25.81%
ROIC Less NNEP Spread (ROIC-NNEP)	-430.36%	-19.73%	34.35%	63.36%	-64.88%	5.49%	27.36%	-54.21%	161.77%	33.10%	22.48%
Return on Net Nonoperating Assets (RNNOA)	103.50%	7.81%	-9.21%	-15.29%	22.71%	-0.89%	-9.65%	20.83%	-88.01%	-9.45%	-4.99%
Return on Equity (ROE)	-359.15%	-15.69%	23.83%	49.10%	-47.64%	2.61%	18.46%	-46.14%	73.75%	24.50%	20.82%
Cash Return on Invested Capital (CROIC)	-123.56%	-143.44%	104.74%	48.48%	3.10%	1.16%	-114.18%	-47.06%	62.35%	8.96%	15.98%
Operating Return on Assets (OROA)	-96.34%	-7.13%	13.11%	27.17%	-26.94%	3.08%	10.79%	-35.46%	54.30%	20.86%	17.81%
Return on Assets (ROA)	-93.53%	-6.91%	11.04%	24.12%	-26.13%	0.76%	11.34%	-40.86%	47.05%	16.21%	15.26%
Return on Common Equity (ROCE)	-359.15%	-15.69%	23.83%	49.10%	-47.64%	2.61%	18.46%	-46.14%	73.75%	24.50%	20.82%
Return on Equity Simple (ROE_SIMPLE)	22.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.40	-1.70	3.36	6.40	-2.90	0.29	2.24	-3.26	18	3.63	3.47
NOPAT Margin	-90.69%	-12.61%	18.71%	35.12%	-28.69%	1.86%	12.56%	-35.74%	54.29%	18.25%	15.82%
Net Nonoperating Expense Percent (NNEP)	-32.29%	-3.77%	-1.32%	1.03%	-5.47%	-1.99%	0.75%	-12.77%	-0.01%	0.84%	3.33%
Return On Investment Capital (ROIC_SIMPLE)	-6.77%	-3.19%	9.18%	14.81%	-6.42%	0.54%	3.76%	-6.76%	27.25%	4.60%	4.31%
Cost of Revenue to Revenue	69.42%	70.18%	46.63%	21.33%	80.89%	37.49%	46.63%	50.64%	12.23%	39.01%	35.92%
SG&A Expenses to Revenue	83.11%	25.86%	14.45%	16.46%	25.74%	16.76%	16.41%	38.65%	9.04%	15.64%	14.04%
R&D to Revenue	77.03%	21.98%	16.69%	22.64%	34.36%	38.27%	25.02%	61.77%	16.08%	21.87%	31.58%
Operating Expenses to Revenue	160.14%	47.83%	31.14%	39.10%	60.10%	55.03%	41.43%	100.43%	25.12%	37.51%	45.62%
Earnings before Interest and Taxes (EBIT)	-4.73	-2.27	3.84	7.32	-3.73	0.66	2.24	-4.78	21	4.86	4.62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.41	-1.95	4.17	7.65	-3.39	1.02	2.61	-4.39	22	5.27	5.04
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.09	3.00	2.31	3.20	4.42	2.36	3.35	3.00	2.60	2.63	2.76
Price to Tangible Book Value (P/TBV)	3.09	3.00	2.31	3.20	4.42	2.36	3.35	3.00	2.60	2.63	2.76
Price to Revenue (P/Rev)	1.54	2.25	1.64	2.59	3.34	1.90	2.86	2.74	2.29	2.33	2.63
Price to Earnings (P/E)	13.44	0.00	0.00	47.21	51.12	18.78	32.82	0.00	11.40	9.91	10.82
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.44%	0.00%	0.00%	2.12%	1.96%	5.33%	3.05%	0.00%	8.77%	10.09%	9.24%
Enterprise Value to Invested Capital (EV/IC)	3.71	2.91	5.63	5.06	7.00	2.89	3.70	3.94	5.22	3.29	3.45
Enterprise Value to Revenue (EV/Rev)	1.43	2.29	1.13	2.22	3.02	1.68	2.75	2.45	1.74	2.07	2.36
Enterprise Value to EBITDA (EV/EBITDA)	10.65	0.00	0.00	21.74	27.81	10.98	21.55	0.00	6.40	6.68	7.27
Enterprise Value to EBIT (EV/EBIT)	12.60	0.00	0.00	28.57	34.98	12.83	26.24	0.00	6.91	7.12	7.72
Enterprise Value to NOPAT (EV/NOPAT)	10.45	0.00	0.00	42.92	51.39	16.26	32.12	0.00	8.45	8.89	9.96
Enterprise Value to Operating Cash Flow (EV/OCF)	14.53	0.00	6.26	13.68	0.00	0.00	0.00	0.00	8.82	16.84	11.37
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	1.91	8.40	238.66	271.84	0.00	0.00	8.33	43.02	24.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.69	0.86	0.13	0.00	0.00	0.08	0.13	0.00	0.00	0.11	0.00
Long-Term Debt to Equity	0.00	0.15	0.13	0.00	0.00	0.08	0.13	0.00	0.00	0.11	0.00
Financial Leverage	-0.24	-0.40	-0.27	-0.24	-0.35	-0.16	-0.35	-0.38	-0.54	-0.29	-0.22
Leverage Ratio	5.08	2.66	2.11	2.06	2.18	2.17	1.69	1.70	1.57	1.56	1.50
Compound Leverage Factor	5.08	2.66	2.11	2.06	2.18	2.17	1.69	1.70	1.57	1.56	1.50
Debt to Total Capital	40.67%	46.36%	11.41%	0.00%	0.00%	7.21%	11.36%	0.00%	0.00%	9.55%	0.00%
Short-Term Debt to Total Capital	40.67%	38.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	8.04%	11.41%	0.00%	0.00%	7.21%	11.36%	0.00%	0.00%	9.55%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	59.33%	53.64%	88.59%	100.00%	100.00%	92.79%	88.64%	100.00%	100.00%	90.45%	100.00%
Debt to EBITDA	2.55	-1.78	-0.50	0.00	0.00	0.41	0.86	0.00	0.00	0.30	0.00
Net Debt to EBITDA	-0.85	-0.09	2.80	0.00	0.00	-1.48	-0.87	0.00	0.00	-0.82	0.00
Long-Term Debt to EBITDA	0.00	-0.31	-0.50	0.00	0.00	0.41	0.86	0.00	0.00	0.30	0.00
Debt to NOPAT	2.50	-2.39	-0.67	0.00	0.00	0.61	1.28	0.00	0.00	0.40	0.00
Net Debt to NOPAT	-0.83	-0.13	3.73	0.00	0.00	-2.20	-1.30	0.00	0.00	-1.10	0.00
Long-Term Debt to NOPAT	0.00	-0.41	-0.67	0.00	0.00	0.61	1.28	0.00	0.00	0.40	0.00
Altman Z-Score	1.69	1.41	2.95	-2.85	5.41	3.92	5.11	3.58	5.11	4.43	5.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.33	1.98	2.34	2.49	2.72	3.03	2.51	3.15	2.94	3.27
Quick Ratio	0.56	0.58	1.22	0.88	0.99	1.13	1.28	0.89	1.60	1.40	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-26	-21	37	18	-5.65	-5.71	-35	-13	19	-11	-8.28
Operating Cash Flow to CapEx	700.33%	-2,098.84%	4,718.39%	939.06%	-1,652.94%	-1,214.15%	-749.40%	503.72%	2,894.22%	-1,753.79%	529.72%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.42	0.61	0.68	0.73	0.73	0.86	0.68	0.87	0.85	0.84
Accounts Receivable Turnover	23.56	5.37	8.21	13.05	14.17	6.33	7.44	8.98	20.06	6.21	5.98
Inventory Turnover	1.06	1.28	1.51	1.21	1.43	1.26	1.37	1.15	0.92	0.93	0.88
Fixed Asset Turnover	12.58	8.23	9.79	11.17	12.57	13.24	13.20	11.14	15.46	15.79	16.14
Accounts Payable Turnover	1.11	1.14	1.31	5.49	2.30	1.75	1.87	5.51	5.46	3.76	4.80
Days Sales Outstanding (DSO)	15.49	67.98	44.48	27.96	25.75	57.65	49.05	40.65	18.19	58.73	61.06
Days Inventory Outstanding (DIO)	345.95	285.37	241.65	302.34	255.48	290.28	267.25	317.58	397.62	392.63	415.77
Days Payable Outstanding (DPO)	328.45	320.04	277.69	66.44	158.94	208.75	195.20	66.20	66.87	96.98	76.00
Cash Conversion Cycle (CCC)	32.99	33.32	8.44	263.86	122.29	139.18	121.10	292.03	348.94	354.39	400.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	23	30	9.20	23	26	36	46	33	26	51	58
Invested Capital Turnover	5.10	1.86	1.77	1.83	2.45	1.88	2.24	1.87	2.98	1.86	1.63
Increase / (Decrease) in Invested Capital	23	19	-33	-11	2.75	6.00	37	9.40	-0.23	15	12
Enterprise Value (EV)	85	87	52	119	180	104	170	129	133	167	200
Market Capitalization	92	86	75	138	200	118	177	145	175	188	222
Book Value per Share	$0.41	$0.39	$0.44	$0.59	$0.58	$0.63	$0.66	$0.60	$0.83	$0.89	$1.00
Tangible Book Value per Share	$0.41	$0.39	$0.44	$0.59	$0.58	$0.63	$0.66	$0.60	$0.83	$0.89	$1.00
Total Capital	50	53	37	43	45	54	60	48	67	79	81
Total Debt	20	25	4.18	0.00	0.00	3.88	6.78	0.00	0.00	7.54	0.00
Total Long-Term Debt	0.00	4.28	4.18	0.00	0.00	3.88	6.78	0.00	0.00	7.54	0.00
Net Debt	-6.79	1.30	-23	-20	-19	-14	-6.87	-15	-42	-21	-23
Capital Expenditures (CapEx)	0.60	0.17	0.09	0.43	0.31	0.43	0.50	0.40	0.76	0.59	0.74
Debt-free, Cash-free Net Working Capital (DFCFNWC)	14	16	-3.78	15	17	23	31	25	17	33	46
Debt-free Net Working Capital (DFNWC)	41	40	24	34	36	41	45	40	59	61	69
Net Working Capital (NWC)	21	19	24	34	36	41	45	40	59	61	69
Net Nonoperating Expense (NNE)	1.20	0.50	0.12	-0.09	0.72	0.13	-0.11	2.24	0.00	-0.15	-0.49
Net Nonoperating Obligations (NNO)	-6.79	1.30	-23	-20	-19	-14	-6.87	-15	-42	-21	-23
Total Depreciation and Amortization (D&A)	0.32	0.32	0.33	0.33	0.35	0.36	0.37	0.39	0.40	0.41	0.42
Debt-free, Cash-free Net Working Capital to Revenue	23.11%	43.14%	-8.27%	27.52%	28.00%	37.93%	49.98%	46.97%	22.59%	40.55%	54.17%
Debt-free Net Working Capital to Revenue	68.72%	104.63%	51.75%	64.53%	60.56%	66.82%	72.05%	76.13%	77.20%	75.45%	81.04%
Net Working Capital to Revenue	34.49%	50.97%	51.75%	64.53%	60.56%	66.82%	72.05%	76.13%	77.20%	75.45%	81.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	($0.03)	$0.04	$0.09	($0.05)	$0.00	$0.03	($0.06)	$0.23	$0.05	$0.05
Adjusted Weighted Average Basic Shares Outstanding	73.04M	73.31M	73.55M	72.53M	76.61M	78.66M	79.28M	78.55M	79.85M	79.99M	80.46M
Adjusted Diluted Earnings per Share	($0.06)	($0.03)	$0.03	$0.10	($0.05)	$0.00	$0.03	($0.06)	$0.22	$0.05	$0.05
Adjusted Weighted Average Diluted Shares Outstanding	73.04M	73.31M	81.22M	81.06M	76.61M	81.27M	80.81M	78.55M	83.05M	82.56M	83.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	73.32M	73.54M	73.63M	78.03M	79.61M	79.73M	80.42M	80.57M	80.57M	80.57M	84.32M
Normalized Net Operating Profit after Tax (NOPAT)	-3.40	-1.70	3.36	6.40	-2.90	0.82	1.49	-3.26	18	3.63	3.47
Normalized NOPAT Margin	-90.69%	-12.61%	18.71%	35.12%	-28.69%	5.24%	8.36%	-35.74%	54.29%	18.25%	15.82%
Pre Tax Income Margin	-126.28%	-16.86%	21.40%	40.16%	-36.90%	4.22%	12.54%	-52.36%	62.64%	24.43%	21.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Protalix BioTherapeutics’ latest results show stronger revenue than a year ago and a solid balance sheet, but quarterly performance remains uneven. Revenue reached $19.9 million in Q2 2026, up approximately 27% from $15.7 million in Q2 2025. However, revenue declined sequentially from a particularly strong $33.8 million in Q1 2026. Net income was $3.8 million, compared with $18.3 million in Q1 and $164,000 in Q2 2025.

Profitability has improved substantially from the losses reported in Q1 and Q2 2024 and Q1 and Q4 2025. Still, earnings have been volatile, reflecting significant swings in revenue and gross margin. Q2 2026 gross margin was approximately 61%, well below Q1 2026’s roughly 88% margin but generally consistent with Q2 2025.

The balance sheet remains a relative strength. PLX reported $27.4 million of cash and equivalents, $92.2 million of current assets and $31.4 million of current liabilities at June 30, 2026. This implies a current ratio of about 2.9. The company had no reported short-term debt in the latest balance sheet, although capital lease obligations totaled $7.5 million.

Cash flow was the primary weakness in the latest quarter. Operating activities used $10.4 million, largely because operating assets and liabilities consumed $13.4 million of cash. Accounts receivable increased from $2.9 million at March 31 to $16.5 million at June 30, while inventory rose to $32.3 million. As a result, cash and equivalents fell by $13.6 million during Q2 2026.

Revenue growth year over year: Q2 2026 revenue of $19.9 million increased approximately 27% from Q2 2025, continuing the broader recovery from the weaker revenue levels reported in early 2024.
Return to sustained profitability: PLX reported net income in Q3 2025, Q1 2026 and Q2 2026, following losses in Q1 2025 and Q4 2025. Q2 2026 earnings per share were $0.05.
Improved operating performance compared with 2024: Q2 2026 operating income was $4.7 million, compared with operating losses in Q1 and Q2 2024 and Q1 2025.
Strong liquidity position: Cash and equivalents totaled $27.4 million, and current assets exceeded current liabilities by approximately $60.8 million at the end of Q2 2026.
Lower traditional debt burden: Short-term debt reported in 2024 is no longer shown in the latest balance sheet. Current noncurrent obligations primarily consist of $7.5 million in capital lease obligations.
Research spending remains substantial: Q2 2026 research and development expense was $4.4 million, indicating continued investment in the company’s product and development programs while the business is generating operating income.
Quarterly revenue is highly variable: Revenue rose from $9.1 million in Q4 2025 to $33.8 million in Q1 2026 before falling to $19.9 million in Q2. Investors should be cautious about extrapolating any single quarter.
Balance sheet growth partly reflects equity: Common equity increased from $28.6 million in Q2 2024 to $71.4 million in Q2 2026, while weighted-average basic shares rose from approximately 73.3 million in Q2 2024 to 80.0 million in Q2 2026.
Recent operating cash burn: Operating cash flow shifted from a $22.0 million inflow in Q1 2026 to a $10.4 million outflow in Q2. The company also spent $3.6 million on investing activities, resulting in a $13.6 million quarterly decline in cash.
Working-capital requirements are absorbing cash: Accounts receivable increased by roughly $13.6 million sequentially, and inventory reached $32.3 million. If these balances do not convert to cash promptly, liquidity could decline despite the company’s current cash cushion.

11/12/26 07:15 AM ETAI Generated. May Contain Errors.

Protalix BioTherapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Protalix BioTherapeutics' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Protalix BioTherapeutics' net income appears to be on an upward trend, with a most recent value of -$6.60 million in 2025, compared with $58.04 million in 2015. The previous period was $2.93 million in 2024. Find out what analysts predict for Protalix BioTherapeutics in the coming months.

Protalix BioTherapeutics' total operating income in 2025 was -$5.50 million, based on the following breakdown:

Total Gross Profit: $25.75 million
Total Operating Expenses: $31.25 million

Over the last 10 years, Protalix BioTherapeutics' total revenue changed from $4.36 million in 2015 to $52.74 million in 2025, a change of 1,108.6%.

In the past 12 quarters, Protalix BioTherapeutics' cash and equivalents has ranged from $13.65 million in Q3 2025 to $41.00 million in Q1 2026, and is currently $22.04 million as of their latest financial filing in Q3 2026.

Protalix BioTherapeutics had total debt of $0.00 at the end of 2025, compared with none in 2024, and a 100.0% decrease since 2015.

Over the last 10 years, Protalix BioTherapeutics' book value per share changed from 0.11 in 2015 to 0.60 in 2025, a change of 450.7%.

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Financial statements for NYSE:PLX last updated on 11/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Protalix BioTherapeutics (PLX) Financials

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Protalix BioTherapeutics (PLX) Financials

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