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Company research / ZLAB

Zai Lab Ltd (ZLAB)

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CIK 0001704292 · Nasdaq · Pharmaceutical Preparations

  • Sector Manufacturing
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Zai Lab Ltd reported revenue of $457.18M. Revenue grew 15.0% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $443.75M.

Key ratios (year ended 2025-12-31)

58.3%
Gross margin (computed)
-50.2%
Operating margin
-38.4%
Net margin
-24.5%
Return on year-end equity
15.0%
Revenue growth (YoY)

Computed by TickerFacts from revenue minus cost of revenue. This may differ from the issuer's reported gross profit or margin; check the revenue and cost definitions.

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Latest selected filing: Form 4 (ownership change) · 2026-10-05

Headquarters locality: Shanghai · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$443.75M$457.18M$397.61M$266.72M$212.67M$144.10M$48.96M$12.98M$129.0Kn/an/a
Cost of Revenue$195.54M$190.52M$147.12M$95.82M$74.02M$52.24M$16.74M$3.75M$43.0Kn/an/a
Gross Profit$248.21M$266.66M$250.50M$170.90M$138.65M$91.87M$32.22M$9.24M$85.9Kn/an/a
R&D Expense$236.92M$220.90M$234.50M$265.87M$286.41M$573.31M$222.71M$142.22M$120.28M$39.34M$32.15M
Operating Income-$264.10M-$229.43M-$282.12M-$366.57M-$404.36M-$700.06M-$301.80M-$203.20M-$141.77M-$51.39M-$38.53M
Depreciation & Amortization$15.93M$15.01M$11.86M$9.03M$8.23M$6.49M$4.64M$3.77M$1.65M$548.0Kn/a
EBITDA-$248.17M-$214.42M-$270.26M-$357.54M-$396.13M-$693.58M-$297.16M-$199.43M-$140.12M-$50.84Mn/a
Net Income-$188.21M-$175.54M-$257.10M-$334.62M-$443.29M-$704.47M-$268.90M-$195.07M-$139.07M-$50.38M-$37.51M
EPS (Diluted)n/a-$0.16-$0.26-$0.35-$0.46-$0.76-$0.35n/an/an/an/a
Total Assets$1.07B$1.17B$1.19B$1.04B$1.22B$1.61B$1.30B$355.15M$301.99M$249.63M$88.91M
Total Liabilities$467.76M$456.88M$344.86M$240.18M$174.54M$230.00M$128.29M$60.49M$50.91M$14.46M$5.95M
Shareholders' Equity$607.04M$715.50M$840.90M$796.12M$1.05B$1.38B$1.17B$294.66M$251.08M$235.17M-$51.55M
Cash & Equivalents$607.52M$679.57M$449.67M$790.15M$1.01B$964.10M$442.12M$75.93M$62.95M$229.66M$83.95M
Operating Cash Flow-$133.38M-$150.79M-$214.87M-$198.18M-$367.64M-$549.23M-$216.06M-$191.01M-$97.54M-$32.37M-$32.16M
Capital Expenditures$6.19M$8.10M$5.66M$7.21M$24.59M$18.30M$10.13M$6.04M$10.02M$9.10M$2.22M
Free Cash Flow-$139.57M-$158.89M-$220.53M-$205.39M-$392.23M-$567.53M-$226.19M-$197.05M-$107.55M-$41.47M-$34.38M
Shares Outstanding1.12B1.11B1.08B972.24M960.22M954.98M87.81M68.24M58.01M49.91M9.66M
Weighted Average Diluted Sharesn/a1.10B989.48M966.39M958.07M929.92M776.68Mn/an/an/an/a
EPS (Basic)n/a-$0.16-$0.26-$0.35-$0.46-$0.76-$0.35n/an/an/an/a

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