Zai Lab Limited (ZLAB)

Zai Lab Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	441.63	398.99	266.72	215.04	144.31	48.96
Revenue Growth (YoY)	24.14%	49.59%	24.03%	49.01%	194.77%	277.04%
Cost of Revenue	223.09	382.36	361.68	360.43	625.55	239.45
Gross Profit	218.54	16.62	-94.97	-145.39	-481.23	-190.49
Selling, General & Admin	287.18	298.74	281.61	258.97	218.83	111.31
Research & Development	159.27	-	-	-	-	-
Operating Expenses	446.46	298.74	281.61	258.97	218.83	111.31
Operating Income	-227.92	-282.12	-376.57	-404.36	-700.06	-301.8
Interest Expense	-4.75	-2.25	-	-	-	-0.18
Interest & Investment Income	34.88	37.11	39.8	14.58	2.19	5.12
Earnings From Equity Investments	-	-	-	-0.22	-1.06	-1.12
Currency Exchange Gain (Loss)	-13.51	-15.14	-14.85	-56.4	4.66	21.66
Other Non Operating Income (Expenses)	4.52	11.41	4.22	12.07	4.42	7.42
EBT Excluding Unusual Items	-206.77	-251	-347.41	-434.33	-689.85	-268.91
Gain (Loss) on Sale of Investments	-0.04	-6.11	2.79	-8.95	-14.62	-
Gain (Loss) on Sale of Assets	-	-	10	-	-	-
Pretax Income	-206.81	-257.1	-334.62	-443.29	-704.47	-268.91
Net Income	-206.81	-257.1	-334.62	-443.29	-704.47	-268.91
Net Income to Common	-206.81	-257.1	-334.62	-443.29	-704.47	-268.91
Shares Outstanding (Basic)	108	99	97	96	93	78
Shares Outstanding (Diluted)	108	99	97	96	93	78
Shares Change (YoY)	10.28%	2.39%	0.87%	3.03%	19.73%	20.66%
EPS (Basic)	-1.92	-2.60	-3.46	-4.63	-7.58	-3.46
EPS (Diluted)	-1.92	-2.60	-3.46	-4.63	-7.58	-3.46
Free Cash Flow	-190.56	-220.53	-205.39	-392.23	-567.53	-226.19
Free Cash Flow Per Share	-1.77	-2.23	-2.13	-4.09	-6.10	-2.91
Gross Margin	49.48%	4.17%	-35.60%	-67.61%	-	-
Operating Margin	-51.61%	-70.71%	-141.19%	-188.04%	-485.10%	-616.45%
Profit Margin	-46.83%	-64.44%	-125.46%	-206.14%	-488.16%	-549.26%
Free Cash Flow Margin	-43.15%	-55.27%	-77.01%	-182.40%	-393.26%	-462.00%
EBITDA	-213.79	-270.26	-367.54	-396.13	-693.58	-297.16
EBITDA Margin	-48.41%	-67.74%	-137.80%	-184.21%	-	-
D&A For EBITDA	14.13	11.86	9.03	8.23	6.49	4.64
EBIT	-227.92	-282.12	-376.57	-404.36	-700.06	-301.8
EBIT Margin	-51.61%	-70.71%	-141.19%	-188.04%	-	-
Revenue as Reported	441.63	398.99	266.72	215.04	144.31	48.96

Updated Nov 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q