ZLAB · XBRL financial data

Zai Lab financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (ZLAB's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022†Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	49	144	215	267	399	460
Revenue from contracts with customers	49	144	213	267	398	457
Cost of revenue	17	52	74	96	—	—
Cost of goods and services sold	—	—	74	96	147	191
Research and development	223	573	286	266	235	221
Selling, general and administrative	111	219	259	282	299	278
Operating income (loss)	(302)	(700)	(404)	(367)	(282)	(229)
Interest income	5	2	15	40	37	33
Interest expense	0	0	0	0	2	5
Other income (expense)	29	(6)	3	7	5	4
Income tax expense (benefit)	0	0	0	0	0	(3)
Net income (loss)	(269)	(704)	(443)	(335)	(257)	(176)
Earnings per share, basic USD per share	(0.35)	(0.76)	(0.46)	(0.35)	(0.26)	(0.16)
Earnings per share, diluted USD per share	(0.35)	(0.76)	(0.46)	(0.35)	(0.26)	(0.16)
Weighted average shares, basic millions of shares	777	930	958	966	989	1,095
Weighted average shares, diluted millions of shares	777	930	958	966	989	1,095

† Share count changed about 10x in the period ending 2022-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.

Fiscal years (ZLAB's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022†Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	442	964	1,008	790	450	680
Short-term investments	745	445	0	16	330	10
Accounts receivable	5	47	40	59	85	106
Inventory	13	19	32	45	40	75
Prepaid and other current assets	11	18	36	23	42	37
Total current assets	1,216	1,501	1,124	940	1,050	1,019
Property and equipment, net	29	43	58	54	48	47
Right-of-use asset	18	14	20	15	21	19
Total assets	1,298	1,610	1,220	1,036	1,186	1,172
Accounts payable	63	126	66	113	101	142
Total current liabilities	98	193	140	203	299	416
Lease liability, non-current	13	10	13	8	14	13
Total liabilities	128	230	175	240	345	457
Accumulated deficit	(714)	(1,418)	(1,861)	(2,196)	(2,453)	(2,629)
Total stockholders' equity	1,169	1,380	1,046	796	841	716
Total liabilities and equity	1,298	1,610	1,220	1,036	1,186	1,172
Common shares outstanding (cover page) millions of shares	89	96	960	972	1,078	1,106

† Share count changed about 10x in the period ending 2022-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.

Fiscal years (ZLAB's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022†Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(269)	(704)	(443)	(335)	(257)	(176)
Stock-based compensation	25	41	61	80	71	66
Depreciation and amortization	5	6	8	9	12	15
Net cash from operating activities	(216)	(549)	(368)	(198)	(215)	(151)
Purchases of property and equipment	10	18	25	7	6	8
Net cash from investing activities	(555)	250	420	(11)	(375)	308
Proceeds from issuing common stock	—	—	0	0	217	0
Net cash from financing activities	1,132	820	(2)	(6)	350	72
Net change in cash	366	522	44	(218)	(240)	230

† Share count changed about 10x in the period ending 2022-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.

SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Zai Lab	550	108	(58)*	not reported	12.3 quarters	Q3 FY26 10-QSep 30, 2026
Rhythm Pharmaceuticals	40	92	(3.1)*	69.3M	16.9 quarters	Q3 FY26 10-QSep 30, 2026
Vaxcyte	125	not reported	(224)*	158.3M	5.2 quarters	Q3 FY26 10-QSep 30, 2026
PERRIGO	437	989	96*	138.8M	—	Q3 FY26 10-QSep 26, 2026
Soleno Therapeutics	133	not reported	26	52.1M	—	Q1 FY26 10-QMar 31, 2026
Adma Biologics	125	141	17*	221.9M	—	Q3 FY26 10-QSep 30, 2026
Ultragenyx Pharmaceutical	150	173	(43)*	101.9M	2.3 quarters	Q3 FY26 10-QSep 30, 2026
Avidity Biosciences	383	0.9*	(170)*	155.1M	2.3 quarters	Q4 FY25 10-KDec 31, 2025
Lantheus Holdings	593	388	92*	65.3M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.