AI-extracted from the 10-Q filed 2026-08-11 — Q2 FY2026 (six months ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
TherapeuticsMD recorded $1.6M in license revenue for H1 2026, up 18% YoY, but faces substantial doubt about going concern due to litigation with Mayne Pharma over $5.5M net working capital settlement and dependence on royalties from licensed products.
Royalties and minimum annual royalties from exclusive U.S. license to Mayne Pharma for commercialization of licensed products at 8.0% on first $80M and 7.5% above, with $3.0M minimum annual royalty for 12 years.
License revenue – Knight and Theramex (IMVEXXY, BIJUVA international)Included in total revenue above
Knight commercializing in Canada (launched 2024); Theramex in Europe (began commercialization 2021); Israel transferred to Theramex in December 2024. Milestone revenue from Knight for IMVEXXY H1 2025 sales recognized in Q3 2026 ($365K CAD equivalent).
Royalties and minimum annual royalties from exclusive U.S. license to Mayne Pharma for commercialization of licensed products at 8.0% on first $80M and 7.5% above, with $3.0M minimum annual royalty for 12 years.
License revenue – Knight and Theramex (IMVEXXY, BIJUVA international)Included in total revenue above
Knight commercializing in Canada (launched 2024); Theramex in Europe (began commercialization 2021); Israel transferred to Theramex in December 2024. Milestone revenue from Knight for IMVEXXY H1 2025 sales recognized in Q3 2026 ($365K CAD equivalent).
Largest Expense Items
General and administrative$2.930M-3.7% YoY
Decrease primarily due to lower professional fees and stock-based compensation costs.
Depreciation and amortization$0.189M-1% YoY
Entirely comprised of amortization of license rights and intangible assets (hormone therapy drug patents).
Margins: The company incurred a loss from operations of $1.539M for H1 2026 (vs. $1.976M in H1 2025), improved by 22% due to higher license revenues and lower write-offs and professional fees. However, other income (interest, sublease, miscellaneous) of $1.806M partially offset operating losses, resulting in net income of $250K.
Watch Items from the Filing
Substantial going-concern doubt: management states 'substantial doubt about ability to continue as a going concern for next twelve months' due to dependence on Mayne Pharma royalties, pending litigation, net working capital disputes, and potential need for additional financing.
Mayne Pharma litigation: filed lawsuit April 2025 for breach of contract, fraudulent inducement, and unjust enrichment over net working capital allowances; Mayne filed countersuit May 2025. Court stayed case pending dispute resolution as of May 20, 2026. Cannot estimate range of loss.
Net working capital contingency: company paid $5.5M to Mayne Pharma in December 2023 for certain trued-up amounts; disputes remain unresolved for payer rebates, wholesale distributor fees, and allowance for returns, with final determination pending.
Revenue concentration: 100% of H1 2026 license revenue derived from Mayne Pharma, Knight, and Theramex; royalty receivable of $3.394M short-term and $12.626M long-term (including minimum annual royalties) concentrated with these three partners.
Patent litigation: Mayne Pharma responsible for defense of IMVEXXY patents against generic challenges from Teva (filed 2020, litigation ongoing since April 2020) and Sun Pharma (filed July 2024); IMVEXXY Patents expire 2032–2033.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About TherapeuticsMD, Inc. (TXMD): stock profile, AI score and financials
TherapeuticsMD, Inc. (TXMD) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores TXMD at 58.8/100 on a composite quality score built from its SEC filings, placing it at rank #976 of 2,925 stocks — the top half of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), TherapeuticsMD, Inc. reports quarterly revenue of $869.0K, net income of $155.0K, an operating margin of -93.9%. Top institutional holders of TXMD by reported 13-F value include Rubric Capital Management, Clearline Capital, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. TXMD trades on the Nasdaq exchange and files with the SEC under CIK 25743. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TXMD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for TherapeuticsMD, Inc. directly from SEC EDGAR.