Zenas BioPharma, Inc. (ZBIO)

Zenas BioPharma Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Revenue	15	5	50	-
Revenue Growth (YoY)	-	-90.00%	-	-
Cost of Revenue	161.5	139.14	60.03	61.69
Gross Profit	-146.5	-134.14	-10.03	-61.69
Selling, General & Admin	49.2	29.75	17.11	13.51
Operating Expenses	49.2	29.75	17.11	13.51
Operating Income	-195.7	-163.89	-27.15	-75.2
Currency Exchange Gain (Loss)	0.2	0.2	0.1	-
Other Non Operating Income (Expenses)	10.84	7.98	0.52	-43.08
EBT Excluding Unusual Items	-184.66	-155.71	-26.52	-118.28
Other Unusual Items	-	-0.85	-0.3	-
Pretax Income	-189.66	-156.56	-36.82	-119.28
Income Tax Expense	0.24	0.43	0.3	-
Net Income	-189.9	-156.99	-37.12	-119.28
Net Income to Common	-189.9	-156.99	-37.12	-119.28
Shares Outstanding (Basic)	42	13	2	1
Shares Outstanding (Diluted)	42	13	2	1
Shares Change (YoY)	1252.33%	762.01%	2.61%	-
EPS (Basic)	-4.53	-11.89	-24.25	-79.94
EPS (Diluted)	-4.53	-11.89	-24.25	-79.94
Free Cash Flow	-158.57	-119.81	-30.55	-65.85
Free Cash Flow Per Share	-3.78	-9.08	-19.95	-44.13
Gross Margin	-	-	-20.07%	-
Operating Margin	-1304.64%	-3277.76%	-54.29%	-
Profit Margin	-1265.99%	-3139.76%	-74.25%	-
Free Cash Flow Margin	-1057.10%	-2396.10%	-61.09%	-
EBITDA	-195.62	-163.75	-27.03	-75.12
EBITDA Margin	-	-	-54.07%	-
D&A For EBITDA	0.08	0.14	0.11	0.08
EBIT	-195.7	-163.89	-27.15	-75.2
EBIT Margin	-	-	-54.29%	-
Revenue as Reported	15	5	50	-

Updated Nov 12, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q