KZR

MKT CAP:$54M

Kezar Life Sciences, Inc.

Market Cap

$54M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$7.37+$1.08 (+17.17%)

Apr 21, 2026

Company Details

Kezar Life Sciences, Inc., a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapeutics to treat unmet needs in immune-mediated diseases and cancer in the United States. The company's...

CEO

Christopher J. Kirk

IPO Date

Jun 21, 2018

Website

www.kezarlifesciences.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$56M

EPS (Diluted)

-$7.66

Free Cash Flow

-$52M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 27, 2026

$0EPS -$7.66

Q4 2025

Mar 27, 2026

$0EPS -$1.99

Q3 2025

Nov 12, 2025

$0EPS -$1.53

Q2 2025

Aug 13, 2025

$0EPS -$1.87

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$16M
Q2 22	$0	$0	-$16M
Q3 22	$0	$0	-$19M
Q4 22	$0	$0	-$20M
Q1 23	$0	$0	-$25M
Q2 23	$0	$0	-$27M
Q3 23	$7M	$7M	-$26M
Q4 23	$0	-$280.0K	-$28M
Q1 24	$0	-$260.0K	-$24M
Q2 24	$0	$0	-$23M
Q3 24	$0	$0	-$22M
Q4 24	$0	$0	-$22M
Q1 25	$0	$0	-$18M
Q2 25	$0	$0	-$15M
Q3 25	$0	-$227.0K	-$12M
Q4 25	$0	-$176.0K	-$8M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	1195.0x	—
Q4 23	951.6x	—
Q1 24	957.9x	—
Q2 24	608.7x	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$13M	-$14M
Q2 22	-$13M	-$13M
Q3 22	-$16M	-$17M
Q4 22	-$16M	-$16M
Q1 23	-$21M	-$21M
Q2 23	-$22M	-$23M
Q3 23	-$20M	-$20M
Q4 23	-$19M	-$19M
Q1 24	-$23M	-$23M
Q2 24	-$17M	-$17M
Q3 24	-$17M	-$18M
Q4 24	-$17M	-$17M
Q1 25	-$17M	-$17M
Q2 25	-$13M	-$13M
Q3 25	-$10M	-$10M
Q4 25	-$12M	-$12M

Capital Expenditures

Quarter	CapEx
Q1 22	$450.0K
Q2 22	$182.0K
Q3 22	$603.0K
Q4 22	$343.0K
Q1 23	$297.0K
Q2 23	$1M
Q3 23	$136.0K
Q4 23	$1.0K
Q1 24	$0
Q2 24	$0
Q3 24	$18.0K
Q4 24	$11.0K
Q1 25	$8.0K
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+21.7%
Q2 22	—	+25.5%
Q3 22	—	+30.5%
Q4 22	—	+42.1%
Q1 23	—	+54.5%
Q2 23	—	+64.1%
Q3 23	—	+71.9%
Q4 23	—	+41.8%
Q1 24	—	-3.3%
Q2 24	—	-12.7%
Q3 24	-100.0%	-32.5%
Q4 24	—	-24.1%
Q1 25	—	-25.7%
Q2 25	—	-37.6%
Q3 25	—	-46.6%
Q4 25	—	-61.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	—
Q2 22	$3M	—
Q3 22	$4M	—
Q4 22	$4M	—
Q1 23	$4M	—
Q2 23	$4M	—
Q3 23	$7M	94.8%
Q4 23	$3M	—
Q1 24	$3M	—
Q2 24	$3M	—
Q3 24	$3M	—
Q4 24	$3M	—
Q1 25	$3M	—
Q2 25	$2M	—
Q3 25	$2M	—
Q4 25	$2M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$11M	$5M	—
Q2 22	$11M	$5M	—
Q3 22	$14M	$5M	—
Q4 22	$15M	—	$5M
Q1 23	$18M	$6M	—
Q2 23	$21M	$6M	—
Q3 23	$24M	$9M	—
Q4 23	$23M	—	$5M
Q1 24	$17M	$7M	—
Q2 24	$16M	$6M	—
Q3 24	$16M	$6M	—
Q4 24	$16M	$6M	—
Q1 25	$12M	$5M	—
Q2 25	$10M	$5M	—
Q3 25	$7M	—	$5M
Q4 25	$5M	$3M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$39M	$204M	$243M
Q2 22	$105M	$201M	$307M
Q3 22	$64M	$226M	$290M
Q4 22	$40M	$236M	$277M
Q1 23	$36M	$222M	$258M
Q2 23	$28M	$208M	$237M
Q3 23	$26M	$192M	$218M
Q4 23	$35M	$166M	$201M
Q1 24	$33M	$147M	$180M
Q2 24	$28M	$136M	$164M
Q3 24	$35M	$114M	$148M
Q4 24	$42M	$90M	$132M
Q1 25	$37M	$77M	$114M
Q2 25	$34M	$66M	$101M
Q3 25	$39M	$51M	$90M
Q4 25	$72M	$0	$72M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	61M	+8.3%	+18.7%
Q2 22	64M	+6.0%	+23.8%
Q3 22	72M	+12.3%	+38.6%
Q4 22	72M	+0.1%	+29.0%
Q1 23	72M	+0.1%	+19.3%
Q2 23	72M	+0.2%	+12.7%
Q3 23	73M	+0.3%	+0.7%
Q4 23	73M	+0.1%	+0.7%
Q1 24	73M	+0.1%	+0.7%
Q2 24	73M	+0.1%	+0.6%
Q3 24	73M	+0.1%	+0.4%
Q4 24	7M	-90.0%	-90.0%
Q1 25	7M	+0.1%	-90.0%
Q2 25	7M	+0.1%	-90.0%
Q3 25	7M	+0.2%	-90.0%
Q4 25	7M	-0.1%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	56
Q2 22	$0	56
Q3 22	$0	56
Q4 22	$0	84
Q1 23	$0	84
Q2 23	$0	84
Q3 23	$83.3K	84
Q4 23	$0	58
Q1 24	$0	58
Q2 24	$0	58
Q3 24	$0	58
Q4 24	$0	55
Q1 25	$0	55
Q2 25	$0	55
Q3 25	$0	55
Q4 25	$0	9

Revenue / Employee