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Zai Lab Limited (ZLAB)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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Zai Lab Limited Income Statement 2025-2011 | ZLAB
Brief overview of profit and loss at Zai Lab Limited
The figures are compared over a five-year interval. Revenue at Zai Lab Limited moved from $49 million in 2020 to $460 million in 2025. The cumulative result was +839.9%, corresponding to roughly 56.5% per year. The company expanded its revenue base at a high speed.
The gross result shifted from 32.2 million dollars to 270 million dollars, or +736.8%. Direct costs outpaced revenue, limiting the benefit of changes in sales. Gross profit as a share of revenue changed from 65.8% to 58.6%. The margin decline reflects a less favorable sales-and-cost structure.
The five-year EBITDA result moved by +27.8%: from −$297 million to −$214 million. EBITDA underperformed the top-line trend. EBITDA margin was −607% at the start and −46.6% at the end. The company improved its ability to convert sales into EBITDA.
Net income moved from −$269 million at the start to −$176 million at the end. Losses became smaller, but the business remains unprofitable.
Over the period, capitalization shifted from $115 billion to $21.6 billion (−81.1%). Financial performance is stronger than the share-price trend.
Conclusion
The indicators point to a weaker financial profile. Key strengths include a stronger final result, positive operating leverage and a larger revenue base. The overall view is constrained by lower investor confidence, weaker gross profitability and a narrow EBITDA buffer. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement Zai Lab Limited
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
21.6 B | 34.2 B | 21.8 B | 38.5 B | 50.9 B | 115 B | 3.32 B | 1.42 B | 541 M | - | - | - | - | - | - |
Shares |
1.1 B | 989 M | 966 M | 958 M | 930 M | 777 M | 64.4 M | 52.6 M | 21.8 M | - | - | - | - | - | - |
Historical Prices |
19.8 | 34.6 | 22.6 | 40.2 | 54.7 | 148 | 55 | 28.8 | 22.1 | - | - | - | - | - | - |
Net Income |
-176 M | -257 M | -335 M | -443 M | -704 M | -269 M | -195 M | -139 M | -50.4 M | -37.5 M | -18 M | - | - | - | - |
Revenue |
460 M | 399 M | 267 M | 215 M | 144 M | 49 M | 13 M | 129 K | - | - | - | - | - | - | - |
Cost of Revenue |
191 M | 147 M | 95.8 M | 74 M | 52.2 M | 16.7 M | 3.75 M | 43 K | - | - | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | 9.24 M | 85.9 K | - | - | - | - | - | - | - |
Operating Income |
-229 M | -282 M | -367 M | -404 M | -700 M | -302 M | -203 M | -142 M | -51.4 M | -38.5 M | -16.3 M | - | - | - | - |
Interest Expense |
3.54 M | 2.25 M | 7.01 M | 3.11 M | -10.2 M | 181 K | 293 K | 40 K | 530 K | - | - | - | - | - | - |
EBITDA |
-214 M | -270 M | -358 M | -396 M | -694 M | -297 M | -199 M | -140 M | -51 M | -36.4 M | -14.2 M | - | - | - | - |
Operating Expenses |
- | - | - | - | - | - | 212 M | 142 M | - | - | - | - | - | - | - |
General and Administrative Expenses |
278 M | 299 M | 282 M | 259 M | 219 M | 111 M | 70.2 M | - | 12 M | 6.38 M | 2.76 M | - | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Zai Lab Limited
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
1.12 B | 1.11 B | 1.1 B | 1.09 B | 1.08 B | 1.08 B | 982 M | 976 M | 973 M | 972 M | 969 M | 965 M | 961 M | 960 M | 959 M | 958 M | 955 M | 955 M | 950 M | 930 M | 884 M | 87.8 M | 75.4 M | 74.7 M | 73 M | 68.2 M | 67.8 M | - | - | 58 M | - | - | - | 49.9 M | - | - | - | 9.66 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
-50.8 M | -51 M | -36 M | -40.7 M | -48.4 M | - | -41.7 M | -80.3 M | -53.5 M | - | -69.2 M | -121 M | -49.1 M | - | -161 M | -138 M | -82.4 M | -212 M | -96.4 M | -163 M | -233 M | -76.5 M | -63.7 M | -80.6 M | -48 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Revenue |
106 M | 99.6 M | 116 M | 110 M | 106 M | - | 102 M | 101 M | 87.1 M | - | 69.2 M | 68.9 M | 62.8 M | - | 57.5 M | 48.2 M | 46.7 M | 44 M | 43.1 M | 36.9 M | 20.1 M | 15.1 M | 14.7 M | 11 M | 8.22 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
48.2 M | 38.3 M | 46.8 M | 43 M | 38.5 M | - | 36.6 M | 35.1 M | 33.6 M | - | 25.5 M | 23.8 M | 21.3 M | - | 20 M | 17.4 M | 15.6 M | - | 12.2 M | 10.9 M | 7.5 M | - | 4.93 M | 2.9 M | 2.08 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
-76.5 M | -69.4 M | -48.8 M | -54.9 M | -56.3 M | - | -67.9 M | -76.1 M | -70.3 M | - | -83.6 M | -89.5 M | -69.5 M | - | -129 M | -98.7 M | -79.8 M | -219 M | -83.2 M | -171 M | -227 M | -95.3 M | -76.3 M | -84 M | -46.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
5.28 M | 162 K | -508 K | 3.75 M | -197 K | - | 3.44 M | -8.94 M | 9.36 M | - | 394 K | -1.4 M | 1.23 M | - | 3.96 M | -5.5 M | -4.88 M | - | -13.6 M | 7.41 M | -6.23 M | - | 43 K | 55 K | 59 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
-68.4 M | -65.4 M | -46.4 M | -52.6 M | -52.9 M | - | -65.8 M | -73.9 M | -67.3 M | - | -81.8 M | -87.7 M | -66.9 M | - | -126 M | -97 M | -77.8 M | -219 M | -78.6 M | -168 M | -226 M | -95.3 M | -73 M | -81.9 M | -45.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
72.9 M | 65.1 M | 70.1 M | 71 M | 63.4 M | - | 67.2 M | 79.7 M | 69.2 M | - | 68.6 M | 67.9 M | 62.5 M | - | 66.6 M | 63.4 M | 57 M | - | 59 M | 54.4 M | 35.8 M | - | 27.9 M | 23.8 M | 18.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Zai Lab Limited (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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