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ZLAB (Zai Lab Limited) Stock Financials & Earnings | Market Cap Arena
ZLAB
Zai Lab Limited
Mkt Cap
$2B
Healthcare
·
Biotechnology
·
🇨🇳 China
·
NASDAQ
Revenue (TTM)
$460M
Net Income (TTM)
-$176M
EPS (TTM)
-$1.61
Free Cash Flow (TTM)
-$159M
Gross Margin
58.6%
Op. Margin
-49.9%
Net Margin
-38.1%
FCF Margin
-34.5%
P/S Ratio (TTM)
4.7x
P/E Ratio (TTM)
—
YoY Rev Growth
+15.3%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$63M
$41M
-$70M
Q2 23
$69M
$45M
-$90M
Q3 23
$69M
$44M
-$84M
Q4 23
$66M
$41M
-$124M
Q1 24
$87M
$54M
-$70M
Q2 24
$101M
$65M
-$76M
Q3 24
$102M
$65M
-$68M
Q4 24
$109M
$67M
-$68M
Q1 25
$106M
$68M
-$56M
Q2 25
$110M
$67M
-$55M
Q3 25
$116M
$69M
-$49M
Q4 25
$128M
$66M
-$69M
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Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
9.3x
—
Q2 23
8.6x
—
Q3 23
8.2x
—
Q4 23
8.1x
—
Q1 24
7.4x
—
Q2 24
6.7x
—
Q3 24
6.1x
—
Q4 24
5.4x
—
Q1 25
5.2x
—
Q2 25
5.0x
—
Q3 25
4.9x
—
Q4 25
4.7x
—
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Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
-$69M
-$73M
Q2 23
-$59M
-$61M
Q3 23
-$55M
-$57M
Q4 23
-$15M
-$15M
Q1 24
-$90M
-$103M
Q2 24
-$42M
-$43M
Q3 24
-$27M
-$57M
Q4 24
-$56M
-$74M
Q1 25
-$62M
-$66M
Q2 25
-$31M
-$32M
Q3 25
-$32M
-$36M
Q4 25
-$26M
-$26M
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Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$4M
Q2 23
$2M
Q3 23
$2M
Q4 23
$222K
Q1 24
$13M
Q2 24
$875K
Q3 24
$30M
Q4 24
$18M
Q1 25
$4M
Q2 25
$552K
Q3 25
$4M
Q4 25
$404K
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OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+34.4%
+4.6%
Q2 23
+42.9%
+7.8%
Q3 23
+20.3%
-17.9%
Q4 23
+5.2%
+18.7%
Q1 24
+38.8%
+19.0%
Q2 24
+45.9%
+11.5%
Q3 24
+47.7%
+11.3%
Q4 24
+65.7%
-6.8%
Q1 25
+22.2%
+3.4%
Q2 25
+9.4%
-6.6%
Q3 25
+13.5%
-3.1%
Q4 25
+17.0%
+11.3%
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Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$17M
26.5%
Q2 23
$21M
29.8%
Q3 23
$22M
31.8%
Q4 23
$20M
31.1%
Q1 24
$18M
20.6%
Q2 24
$19M
18.5%
Q3 24
$17M
16.4%
Q4 24
$17M
15.8%
Q1 25
$16M
14.8%
Q2 25
$17M
15.4%
Q3 25
$17M
14.6%
Q4 25
$16M
12.5%
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OpEx Breakdown
R&D
G&A
S&M
SG&A
Quarter
R&D
G&A
S&M
SG&A
Q1 23
$48M
$63M
—
—
Q2 23
$77M
$68M
—
—
Q3 23
$59M
$69M
—
—
Q4 23
$82M
$83M
—
—
Q1 24
$55M
$69M
—
—
Q2 24
$62M
$80M
—
—
Q3 24
$66M
$67M
—
—
Q4 24
$52M
$83M
—
—
Q1 25
$61M
$63M
—
—
Q2 25
$51M
$43M
$28M
—
Q3 25
$48M
$41M
$29M
—
Q4 25
$62M
—
—
$73M
marketcaparena.com
Revenue Segments
Nuzyra
Optune
Qinlock
Zejula
Quarter
Nuzyra
Optune
Qinlock
Zejula
Q1 23
$5M
$13M
$1M
$43M
Q2 23
$5M
$14M
$8M
$43M
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$880M
$51M
$930M
Q2 23
$859M
$16M
$875M
Q3 23
$789M
$32M
$820M
Q4 23
$790M
$16M
$806M
Q1 24
$651M
$0
$651M
Q2 24
$630M
$0
$630M
Q3 24
$616M
$0
$616M
Q4 24
$450M
$330M
$780M
Q1 25
$757M
$0
$757M
Q2 25
$732M
$0
$732M
Q3 25
$717M
$0
$717M
Q4 25
$680M
$10M
$690M
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Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
10M
+0.2%
Q2 23
10M
+0.4%
Q3 23
10M
+0.4%
Q4 23
10M
+0.2%
Q1 24
10M
+0.3%
Q2 24
10M
+0.3%
Q3 24
10M
+0.0%
Q4 24
102M
+942.6%
Q1 25
108M
+6.2%
Q2 25
109M
+1.0%
Q3 25
110M
+0.9%
Q4 25
111M
+0.4%
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Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 15
—
—
FY 16
—
—
FY 17
$0
88
FY 18
$419
309
FY 19
$19K
692
FY 20
$41K
1K
FY 21
$74K
2K
FY 22
$106K
2K
FY 23
$123K
2K
FY 24
$213K
2K
FY 25
$258K
2K
marketcaparena.com