Zai Lab Limited financials
$25.93+0.93%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $460.2M | $399.0M | $266.7M | $215.0M | $144.3M | $49.0M | $13.0M | $129.0K | — |
| Gross profit | $269.1M | $251.1M | $170.9M | $141.0M | $92.1M | $32.2M | $9.2M | $86.0K | — |
| Gross margin | 58.5% | 62.9% | 64.1% | 65.6% | 63.8% | 65.8% | 71.1% | 66.7% | — |
| Operating income | -$229.4M | -$282.1M | -$376.6M | -$404.4M | -$700.1M | -$301.8M | -$203.2M | -$141.8M | -$51.4M |
| Net income | -$175.5M | -$257.1M | -$334.6M | -$443.3M | -$704.5M | -$268.9M | -$195.1M | -$139.1M | -$50.4M |
| Net margin | −38.1% | −64.4% | −125.5% | −206.1% | −488.2% | −549.3% | −1502.3% | −107810.1% | — |
| Diluted EPS | $-0.16 | $-0.26 | $-0.35 | $-0.46 | $-0.76 | $-0.35 | $-3.03 | $-2.64 | $-2.32 |
| EBITDA | -$214.4M | -$270.3M | -$367.5M | -$404.4M | -$693.6M | -$297.5M | -$199.7M | -$140.4M | -$50.9M |
| Operating cash flow | -$150.8M | -$214.9M | -$198.2M | -$367.6M | -$549.2M | -$216.1M | -$191.0M | -$97.5M | -$32.4M |
| Free cash flow | -$158.9M | -$220.5M | -$205.4M | -$392.2M | -$567.5M | -$226.2M | -$204.9M | -$107.6M | -$41.5M |
| Diluted shares | 1,095.3M | 989.5M | 966.4M | 958.1M | 929.9M | 776.7M | 64.4M | 52.6M | 21.8M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $679.6M | $449.7M | $790.2M | $1.01B | $964.1M | $442.1M |
| Short-term investments | $10.0M | $330.0M | $16.3M | $0.00 | $445.0M | $744.7M |
| Total debt | $204.5M | $131.7M | $0.00 | $0.00 | $0.00 | $0.00 |
| Total assets | $1.17B | $1.19B | $1.04B | $1.22B | $1.61B | $1.30B |
| Total liabilities | $456.9M | $344.9M | $240.2M | $174.5M | $230.0M | $128.3M |
| Shareholders' equity | $715.5M | $840.9M | $796.1M | $1.05B | $1.38B | $1.17B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology