ZLAB · Zai Lab Ltd
$21.53
+3.16 (+17.17%)
At close · Aug 6
Earnings today
View the 10-Q filed May 7, 2026
Customer concentration
— top customer 25% of receivables
One customer — 25% of receivables (As of March 31, 2026)
“As of March 31, 2026, our largest customer accounted for approximately 25% of our total accounts receivable collectively.”
Market Cap
$26.89B
Shares
1.46B
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$460.16M
+15.3%
FY2025
Net Income
-$175.5M
+31.7%
FY2025
Gross Margin
66.33%
FY2018
Operating Margin
-49.86%
+20.8pp
FY2025
Diluted EPS
-$0.16
+38.5%
FY2025
Operating Cash Flow
-$150.79M
+29.8%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| $453.28M | $460.16MG | $398.99M | $266.72M | $215.04M | $144.31M | $48.96M | $12.99M | $129.45K | — | |
| $190.38M | $190.52M | $147.12M | $95.82M | $74.02M | $52.24M | $16.74M | $3.75M | $43.59K | — | |
| — | — | — | — | — | — | — | — | $85.86K | — | |
| — | — | — | — | — | — | — | — | 66.33% | — | |
| $225.77M | $220.9M | $234.5M | $265.87M | $286.41M | $573.31M | $222.71M | $142.22M | $120.28M | $39.34M | |
| — | — | — | — | — | — | — | — | — | $12.05M | |
| $279.25M | $277.61M | $298.74M | $281.61M | $258.97M | $218.83M | $111.31M | $70.21M | $21.58M | — | |
| $6M | $5.9M | $3.2M | $700K | $500K | $493K | $307K | $305K | $15.4K | $2422 | |
| — | $15.01M | $11.86M | $9.03M | $8.23M | $6.49M | $4.64M | $3.77M | — | — | |
| -$242.51M | -$229.43M | -$282.12M | -$366.57M | -$404.36M | -$700.06M | -$301.8M | -$203.2M | -$141.77M | -$51.39M | |
| — | -49.86% | -70.71% | -137.44% | -188.04% | -485.1% | -616.45% | -1564.85% | -109514.01% | — | |
| — | -$214.42M | -$270.26M | -$357.54M | -$396.13M | -$693.58M | -$297.16M | -$199.43M | — | — | |
| $5.66M | $5.21M | $2.25M | — | $0 | $0 | $181K | $293K | $39.67K | — | |
| $30.89M | $33.05M | $37.11M | $39.8M | $14.58M | $2.19M | $5.12M | $8.23M | $3.26M | $527.35K | |
| $3.9M | $3.54M | $5.3M | $7.01M | $3.11M | -$5.54M | $29.08M | $938K | — | — | |
| — | — | $0 | $0 | -$221K | -$1.06M | -$1.12M | — | -$586.55K | -$249.65K | |
| -$179.6M | -$178.46M | -$257.1M | -$334.62M | -$443.29M | -$703.41M | -$268.91M | -$195.07M | -$139.07M | -$50.38M | |
| -$1.49M | -$2.93M | $0 | $0 | $0 | — | — | $0 | $0 | $0 | |
| -$178.08M | -$175.5M | -$257.1M | -$334.6M | -$443.3M | -$704.5M | -$268.91M | -$195.07M | -$139.07M | -$50.38M | |
| — | -38.14% | -64.44% | -125.45% | -206.15% | -488.18% | -549.26% | -1502.28% | -107433.56% | — | |
| — | -$175.54M | -$257.1M | -$334.62M | -$443.29M | -$704.47M | -$268.91M | -$195.07M | -$139.07M | -$50.38M | |
| -$212.31M | -$196.36M | -$244.21M | -$322.68M | -$393.96M | -$713.59M | -$288.05M | -$193.11M | -$136.86M | -$49.24M | |
| USD/shares | — | -$0.16 | -$0.26 | -$0.35 | -$0.46 | — | — | — | — | — |
| USD/shares | — | -$0.16 | -$0.26 | -$0.35 | -$0.46 | — | — | — | — | — |
| shares | — | 1.1B | 989.48M | 966.39M | 958.07M | 92.99M | 77.67M | 64.37M | 52.61M | 21.75M |
| shares | — | 1.1B | 989.48M | 966.39M | 958.07M | 92.99M | 77.67M | 64.37M | 52.61M | 21.75M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
Peer median 8.34×
EV/EBIT
—
Peer median 30.17×
P/E (TTM)
—
Peer median 28.24×
Peer medians compare against the 80 similar-size Biotechnology companies (of 520 listed).
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Zejula | $189,042,000 | $187,082,000 | $168,843,000 | $145,194,000 | $93,579,000 | $32,138,000 | $6,625,000 | $129,000 |
| Vyvgart Vyvgart Hytrulo | $94,198,000 | $93,639,000 | $10,011,000 | $0 | — | — | — | — |
| Nuzyra | $60,836,000 | $43,199,000 | $21,656,000 | $5,200,000 | $3,000 | $0 | — | — |
| Optune | $48,325,000 | $40,475,000 | $46,969,000 | $47,321,000 | $38,903,000 | $16,418,000 | $6,360,000 | — |
| Qinlock | $35,614,000 | $28,826,000 | $19,240,000 | $14,957,000 | $11,620,000 | $402,000 | — | — |
| XACDURO | $22,912,000 | $3,305,000 | $0 | $0 | — | — | — | — |
| AUGTYRO | $5,538,000 | $1,088,000 | $0 | $0 | — | — | — | — |
| Product And Service Other | $717,000 | $0 | $0 | — | — | — | — | — |
| Vyvgart | — | — | — | — | $0 | — | — | — |
Key facts
CIK
1704292
CUSIP
98887Q104
13F (30d)
31 filings
19 filers
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Investor relations