20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Zai Lab Ltd (ZLAB) operates in the BIOTECHNOLOGY industry and is headquartered in Pudong, China with about 1,784 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, ZLAB reported $460M in revenue and ($176M) in net income.
Zai Lab Limited, a biopharmaceutical company, focuses on discovering, developing, and commercializing products that address medical conditions in the areas of oncology, immunology, neuroscience, and infectious diseases.
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| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $450M | $460M | $399M | $267M | $215M | $144M | $49M | $13M | $0M | $0M | $0M | $0M |
| Gross Profit | $253M | $269M | $251M | $171M | $141M | $92M | ($190M) | $9M | $0M | $0M | $0M | $0M |
| Gross Margin % | 56.2% | 58.5% | 62.9% | 64.1% | 65.6% | 63.8% | -389.1% | 71.1% | 66.3% | — | — | — |
| Operating Income (EBIT) | ($263M) | ($224M) | ($282M) | ($367M) | ($404M) | ($700M) | ($302M) | ($203M) | ($142M) | ($51M) | ($39M) | ($16M) |
| Operating Margin % | -58.4% | -48.6% | -70.7% | -137.4% | -188.0% | -485.1% | -616.5% | -1564.9% | -109514.0% | — | — | — |
| Net Income | ($188M) | ($176M) | ($257M) | ($335M) | ($443M) | ($704M) | ($269M) | ($183M) | ($139M) | ($50M) | ($38M) | ($18M) |
| Net Margin % | -41.8% | -38.1% | -64.4% | -125.5% | -206.1% | -488.2% | -549.3% | -1412.2% | -107433.6% | — | — | — |
| EBITDA | ($169M) | ($158M) | ($235M) | ($365M) | ($435M) | ($689M) | ($297M) | ($199M) | ($138M) | ($51M) | ($38M) | ($16M) |
| Earnings Per Share (EPS) | $-1.71 | $-1.60 | $-2.60 | $-3.46 | $-4.63 | $-7.58 | $-3.46 | $-2.85 | $-2.64 | $-2.32 | $-39.74 | $-20.73 |
| Shares Outstanding (M) | 112M | 110M | 99M | 97M | 96M | 93M | 78M | 64M | 53M | — | 1M | 1M |
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 | $106M | $100M | $128M | $116M | $110M | $106M | $109M | $102M |
| Gross Profit | $58M | $61M | $65M | $69M | $67M | $68M | $67M | $65M |
| Gross Margin % | 54.7% | 61.5% | 51.1% | 59.6% | 60.7% | 63.7% | 61.4% | 63.9% |
| Operating Income (EBIT) | ($76M) | ($69M) | ($69M) | ($49M) | ($55M) | ($56M) | ($68M) | ($68M) |
| Operating Margin % | -72.0% | -69.5% | -54.4% | -42.0% | -49.9% | -52.9% | -62.3% | -66.3% |
| Net Income | ($51M) | ($51M) | ($50M) | ($36M) | ($41M) | ($48M) | ($82M) | ($42M) |
| Net Margin % | -47.8% | -51.2% | -39.5% | -31.0% | -37.0% | -45.5% | -74.9% | -40.8% |
| EBITDA | ($46M) | ($44M) | ($48M) | ($31M) | ($36M) | ($44M) | ($75M) | ($38M) |
| Earnings Per Share (EPS) | $-0.46 | $-0.46 | $-0.46 | $-0.33 | $-0.37 | $-0.45 | $-0.80 | $-0.04 |
| Shares Outstanding (M) | 112M | 111M | 111M | 110M | 109M | 108M | 102M | 976M |
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 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | ($133M) | ($151M) | ($215M) | ($198M) | ($368M) | ($549M) | ($216M) | ($191M) | ($98M) | ($32M) | ($32M) | ($11M) |
| Capital Expenditures (CapEx) | $28M | $13M | $62M | $8M | $25M | $19M | $11M | $15M | $10M | $9M | $2M | $1M |
| Free Cash Flow (FCF) | ($162M) | ($164M) | ($276M) | ($207M) | ($393M) | ($568M) | ($227M) | ($206M) | ($108M) | ($41M) | ($34M) | ($12M) |
| FCF Margin % | -36.0% | -35.7% | -69.3% | -77.5% | -182.6% | -393.7% | -463.1% | -1588.4% | -83162.8% | — | — | — |
| Dividends Paid | — | — | — | — | $16M | — | — | — | — | — | — | — |
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) | ($63M) | ($12M) | ($26M) | ($32M) | ($31M) | ($62M) | ($56M) | ($27M) |
| Capital Expenditures (CapEx) | $1M | $22M | $1M | $4M | $1M | $4M | $18M | $30M |
| Free Cash Flow (FCF) | ($65M) | ($34M) | ($27M) | ($36M) | ($32M) | ($66M) | ($74M) | ($57M) |
| FCF Margin % | -61.0% | -34.3% | -21.4% | -31.1% | -28.7% | -61.6% | -67.4% | -55.5% |
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 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B | $1.2B | $1.2B | $1.0B | $1.2B | $1.6B | $1.3B | $355M | $302M | $250M | $89M | $14M |
| Cash & Cash Equivalents | $608M | $680M | $450M | $790M | $1.0B | $964M | $442M | $76M | $63M | $230M | $84M | $13M |
| Total Liabilities | $468M | $457M | $345M | $240M | $175M | $230M | $128M | $60M | $51M | $14M | $140M | $32M |
| Total Debt (Short + Long-Term) | $243M | $211M | $140M | $7M | $7M | $6M | $5M | $11M | $4M | $2.4B | $0M | $0M |
| Total Shareholders' Equity | $607M | $716M | $841M | $796M | $1.0B | $1.4B | $1.2B | $295M | $251M | $235M | ($52M) | ($18M) |
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 ZLAB viewer.
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