20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Zenas BioPharma, Inc. Common Stock (ZBIO) operates in the BIOTECHNOLOGY industry and is headquartered in Waltham, United States with about 167 employees. Its market capitalization is roughly $2 billion. In the fiscal year ended 2025-12-31, ZBIO reported $10M in revenue and ($378M) in net income.
Zenas BioPharma, Inc., a clinical-stage biopharma company, engages in the development and commercialization of transformative immunology-based therapies.
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| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Total Revenue | $11M | $10M | $5M | $50M | $0M |
| Gross Profit | ($60M) | $10M | ($134M) | $50M | ($62M) |
| Gross Margin % | -543.0% | 100.0% | -2682.8% | 100.0% | — |
| Operating Income (EBIT) | ($476M) | ($211M) | ($164M) | ($37M) | ($76M) |
| Operating Margin % | -4323.4% | -2113.8% | -3277.8% | -74.3% | — |
| Net Income | ($484M) | ($378M) | ($157M) | ($37M) | ($119M) |
| Net Margin % | -4403.5% | -3777.4% | -3139.8% | -74.2% | — |
| EBITDA | ($457M) | ($370M) | ($156M) | ($27M) | ($75M) |
| Earnings Per Share (EPS) | $-9.61 | $-8.44 | $-3.76 | $-0.97 | $-3.11 |
| Shares Outstanding (M) | 63M | 45M | 42M | 38M | 38M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $1M | $0M | $10M | $0M | $0M | $10M | $5M | $0M |
| Gross Profit | $1M | $0M | ($56M) | ($5M) | ($43M) | $10M | $5M | ($34M) |
| Gross Margin % | 100.0% | — | -557.2% | — | — | 100.0% | 100.0% | — |
| Operating Income (EBIT) | ($108M) | ($77M) | ($238M) | ($53M) | ($55M) | ($37M) | ($56M) | ($41M) |
| Operating Margin % | -10765.9% | — | -2379.8% | — | — | -373.3% | -1112.5% | — |
| Net Income | ($111M) | ($81M) | ($240M) | ($51M) | ($52M) | ($34M) | ($53M) | ($39M) |
| Net Margin % | -11145.6% | — | -2404.4% | — | — | -335.7% | -1052.1% | — |
| EBITDA | ($101M) | ($74M) | ($230M) | ($51M) | ($52M) | ($34M) | ($52M) | ($39M) |
| Earnings Per Share (EPS) | $-1.77 | $-1.46 | $-5.17 | $-1.22 | $-1.25 | $-0.80 | $-1.26 | $-0.92 |
| Shares Outstanding (M) | 63M | 56M | 46M | 42M | 42M | 42M | 42M | 42M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash from Operations (CFO) | ($226M) | ($172M) | ($120M) | ($31M) | ($66M) |
| Capital Expenditures (CapEx) | $65M | $0M | $0M | $0M | $2M |
| Free Cash Flow (FCF) | ($291M) | ($172M) | ($120M) | ($31M) | ($68M) |
| FCF Margin % | -2645.2% | -1723.5% | -2396.1% | -61.1% | — |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | ($57M) | ($75M) | ($52M) | ($41M) | ($42M) | ($37M) | ($39M) | ($31M) |
| Capital Expenditures (CapEx) | $30M | $0M | $30M | $5M | $0M | $0M | $0M | $0M |
| Free Cash Flow (FCF) | ($87M) | ($75M) | ($82M) | ($46M) | ($42M) | ($37M) | ($39M) | ($31M) |
| FCF Margin % | -8723.7% | — | -824.1% | — | — | -370.7% | -772.6% | — |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Total Assets | $702M | $384M | $370M | $68M | $75M |
| Cash & Cash Equivalents | $197M | $111M | $320M | $57M | $67M |
| Total Liabilities | $455M | $141M | $58M | $294M | $267M |
| Total Debt (Short + Long-Term) | $298M | $1M | $1M | $21M | $1M |
| Total Shareholders' Equity | $247M | $242M | $312M | ($226M) | ($192M) |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ZBIO viewer.
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