Wave Life Sciences Ltd. (WVE) 10-Year Financial Performance & Capital Metrics

WVE •

HealthcareBiotechnologyRNA and Genome Editing Developers

AboutWave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. It is developing oligonucleotides target ribonucleic acid to reduce the expression of disease-promoting proteins or restore the production of functional proteins, or modulate protein expression. The company also develops WVE-004, a C9orf72 molecule for the treatment of amyotrophic lateral sclerosis and frontotemporal dementia; WVE-003, a mutant huntingtin SNP3 molecule for the treatment of Huntington's disease; WVE-N531, an Exon 53 molecule for the treatment of Duchenne muscular dystrophy; and ATXN3, a discovery stage program for the treatment of spinocerebellar ataxia 3, as well as multiple preclinical programs for CNS disorders. In addition, it focuses on developing GalNAc-conjugated AIMers to treat hepatic indications comprising Alpha-1 antitrypsin deficiency (AATD); and two preclinical programs, such as Usher syndrome type 2A (USH2A) and retinitis pigmentosa due to a P23H mutation in the RHO gene (RhoP23H) for the treatment of retinal diseases. It has collaboration agreements with Pfizer Inc., Takeda Pharmaceutical Company Limited, University of Oxford, University of Massachusetts, Western Washington University, Grenoble Institute of Neurosciences, IRBM S.p.A, University of Louisville, and University College London. The company was incorporated in 2012 and is based in Singapore.Show more

Revenue $108M -4.4%
EBITDA -$102M -73.1%
Net Income -$97M -68.7%
EPS (Diluted) -0.70 -29.6%
Gross Margin 100%
EBITDA Margin -93.94% -81.1%
Operating Margin -101.94% -69.9%
Net Margin -89.57% -76.5%
ROE -77.87% +46.3%
ROIC -
Debt/Equity 0.12 -85.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 46.6%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Shares diluted 30.3% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y46.62%

3Y38.28%

TTM103.75%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM14.43%

EPS CAGR

10Y-

5Y-

3Y-

TTM32.43%

ROCE

10Y Avg-82.54%

5Y Avg-95.74%

3Y Avg-99.9%

Latest-66.96%

Peer Comparison

RNA and Genome Editing Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALNYAlnylam Pharmaceuticals, Inc.	44.07B	332.92	142.88	65.19%	8.45%	39.76%	1.06%	3.76
SLXNWSilexion Therapeutics Ltd.	63.6M	0.03	0.00			-132.54%
EDITEditas Medicine, Inc.	205.18M	2.20	-0.76	-58.64%	-430.84%	-14.85%		0.26
SGMOSangamo Therapeutics, Inc.	92.01M	0.43	-0.88	-67.2%	-331.28%	-17.44%		1.34
CAMPCAMP4 Therapeutics Corporation	210.49M	4.49	-1.69	86.29%	-14.04%	-133.54%		0.14
SLNSilence Therapeutics plc	256.95M	5.44	-1.71	70.47%	-252.16%	-84.61%		0.00
PEPGPepGen Inc.	202.89M	6.22	-2.18			-57.35%		0.16
ARCTArcturus Therapeutics Holdings Inc.	224.14M	8.23	-2.74	-12.27%	-72.48%	-29.71%		0.12

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	152K	1.49M	3.7M	14.41M	15.98M	20.08M	40.96M	3.65M	113.31M	108.3M
Revenue Growth %	-	876.97%	149.43%	289.15%	10.89%	25.61%	104.03%	-91.09%	3005.1%	-4.42%
Cost of Goods Sold+	9.06M	393K	79.31M	134.43M	175.43M	130.94M	0	0	0	0
COGS % of Revenue	5958.55%	26.46%	2141.17%	932.62%	1097.61%	652.21%	-	-	-	-
Gross Profit+	-8.9M	1.09M	-75.61M	-120.01M	-159.45M	-110.87M	40.96M	3.65M	113.31M	108.3M
Gross Margin %	-5858.55%	73.54%	-2041.17%	-832.62%	-997.61%	-552.21%	100%	100%	100%	100%
Gross Profit Growth %	-271.82%	112.26%	-7023.53%	-58.74%	-32.86%	30.47%	136.95%	-91.09%	3005.1%	-4.42%
Operating Expenses+	19.45M	56.81M	106.28M	173.94M	48.87M	42.51M	167.98M	166.37M	181.3M	218.71M
OpEx % of Revenue	12796.05%	3825.72%	2869.44%	1206.72%	305.76%	211.73%	410.07%	4559.3%	160.01%	201.94%
Selling, General & Admin	10.39M	15.99M	26.98M	39.51M	48.87M	42.51M	46.1M	50.51M	51.29M	59.02M
SG&A % of Revenue	6837.5%	1077.04%	728.27%	274.1%	305.76%	211.73%	112.55%	1384.3%	45.27%	54.5%
Research & Development	9.06M	40.82M	79.31M	134.43M	175.43M	130.94M	121.88M	115.86M	130.01M	159.68M
R&D % of Revenue	5958.55%	2748.69%	2141.17%	932.62%	1097.61%	652.21%	297.52%	3175.01%	114.74%	147.44%
Other Operating Expenses	56K	-50K	-331K	9.55M	-175.43M	-130.94M	0	0	0	0
Operating Income+	-19.3M	-55.33M	-102.58M	-159.52M	-208.32M	-153.38M	-127.02M	-162.72M	-68M	-110.4M
Operating Margin %	-12696.05%	-3725.72%	-2769.44%	-1106.72%	-1303.37%	-763.94%	-310.07%	-4459.3%	-60.01%	-101.94%
Operating Income Growth %	-257.77%	-186.7%	-85.41%	-55.51%	-30.59%	26.37%	17.19%	-28.11%	58.21%	-62.37%
EBITDA+	-18.7M	-54.54M	-100.42M	-153.94M	-200.73M	-145.26M	-117.18M	-152.61M	-58.79M	-101.74M
EBITDA Margin %	-12305.26%	-3672.93%	-2711.26%	-1068%	-1255.89%	-723.53%	-286.06%	-4182.13%	-51.89%	-93.94%
EBITDA Growth %	-265.81%	-191.61%	-84.12%	-53.29%	-30.39%	27.63%	19.33%	-30.23%	61.48%	-73.06%
D&A (Non-Cash Add-back)	594K	784K	2.15M	5.58M	7.59M	8.11M	9.84M	10.11M	9.21M	8.66M
EBIT	-19.3M	-55.72M	-102.39M	-159.52M	-208.32M	-153.38M	-127.02M	-162.72M	-68M	-110.4M
Net Interest Income+	86K	337K	6K	22K	0	-16K	30K	0	0	0
Interest Income	0	0	0	0	-	0	30K	0	0	0
Interest Expense	86K	337K	6K	22K	-	16K	-	0	0	0
Other Income/Expense	142K	542K	1.25M	12.94M	14.68M	2.63M	4.57M	1.58M	9.81M	13.39M
Pretax Income+	-19.16M	-54.78M	-101.33M	-146.58M	-193.64M	-150.75M	-122.45M	-161.14M	-58.19M	-97.01M
Pretax Margin %	-12602.63%	-3689.23%	-2735.61%	-1016.96%	-1211.52%	-750.86%	-298.92%	-4416.06%	-51.36%	-89.57%
Income Tax+	44K	616K	708K	69K	0	-841K	-204K	681K	-677K	0
Effective Tax Rate %	100.23%	101.12%	100.7%	100.05%	100%	99.44%	99.83%	100.42%	98.84%	100%
Net Income+	-19.2M	-55.4M	-102.03M	-146.65M	-193.64M	-149.91M	-122.25M	-161.82M	-57.51M	-97.01M
Net Margin %	-12631.58%	-3730.71%	-2754.72%	-1017.43%	-1211.52%	-746.68%	-298.42%	-4434.72%	-50.76%	-89.57%
Net Income Growth %	-267.18%	-188.55%	-84.18%	-43.73%	-32.04%	22.58%	18.45%	-32.38%	64.46%	-68.67%
Net Income (Continuing)	-19.2M	-55.4M	-101.98M	-146.65M	-193.64M	-149.91M	-122.25M	-161.82M	-57.51M	-97.01M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.89	-2.43	-3.85	-5.06	-5.30	-3.82	-2.36	-2.05	-0.54	-0.70
EPS Growth %	-256%	-173.03%	-58.44%	-31.43%	-4.74%	27.92%	38.22%	13.14%	73.66%	-29.63%
EPS (Basic)	-0.89	-2.43	-3.85	-5.06	-5.30	-3.82	-2.36	-2.05	-0.54	-0.70
Diluted Shares Outstanding	21.55M	22.8M	26.51M	28.97M	33.87M	39.23M	51.83M	78.86M	106.1M	138.28M
Basic Shares Outstanding	21.55M	22.8M	26.51M	28.97M	33.87M	39.23M	51.83M	78.86M	106.1M	138.28M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	161.38M	151.99M	150.49M	202.27M	185.48M	230.04M	162.56M	98.54M	235.37M	320.39M
Cash & Short-Term Investments	161.22M	150.29M	142.5M	174.82M	147.16M	184.5M	150.56M	88.5M	200.35M	302.08M
Cash Only	161.22M	150.29M	142.5M	174.82M	147.16M	184.5M	150.56M	88.5M	200.35M	302.08M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	0	0	1M	10M	20M	30M	0	0	21.09M	1.42M
Days Sales Outstanding	-	-	98.54	253.23	456.74	545.4	-	-	67.93	4.79
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	164K	1.7M	0	10.87M	8.69M	5.11M	5.42M	2.11M	4.02M	7.35M
Total Non-Current Assets+	4.04M	12.82M	31.36M	93.67M	98.77M	49.2M	44.44M	47.85M	39.58M	31.81M
Property, Plant & Equipment	2.79M	8.61M	27.33M	39.93M	54.47M	45.43M	40.64M	44.13M	35.72M	28M
Fixed Asset Turnover	0.05x	0.17x	0.14x	0.36x	0.29x	0.44x	1.01x	0.08x	3.17x	3.87x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	1.05M	3.6M	3.61M	53.63M	33.65M	3.65M	0	0	0	0
Other Non-Current Assets	1.06M	3.65M	411K	111K	10.66M	115K	3.8M	3.72M	3.85M	3.81M
Total Assets+	165.42M	164.81M	181.84M	295.94M	284.25M	279.24M	207.01M	146.39M	274.95M	352.21M
Asset Turnover	0.00x	0.01x	0.02x	0.05x	0.06x	0.07x	0.20x	0.02x	0.41x	0.31x
Asset Growth %	5530.5%	-0.37%	10.33%	62.74%	-3.95%	-1.76%	-25.87%	-29.28%	87.82%	28.1%
Total Current Liabilities+	3.82M	12.15M	19.62M	130.04M	118.15M	121.04M	64.2M	71.52M	186.44M	110.95M
Accounts Payable	2.81M	4.94M	7.6M	13.09M	9.07M	13.79M	7.28M	16.91M	12.84M	16.26M
Days Payables Outstanding	113.28	4.59K	34.97	35.54	18.88	38.45	-	-	-	-
Short-Term Debt	62K	62K	0	1.16M	3.24M	3.71M	0	0	0	0
Deferred Revenue (Current)	591K	2.71M	2.71M	100.94M	89.65M	91.56M	37.1M	31.56M	150.06M	65.97M
Other Current Liabilities	291K	3.38M	1.33M	6.47M	7.52M	2.97M	10.18M	12.29M	14.06M	15.36M
Current Ratio	42.27x	12.50x	7.67x	1.56x	1.57x	1.90x	2.53x	1.38x	1.26x	2.89x
Quick Ratio	42.27x	12.50x	7.67x	1.56x	1.57x	1.90x	2.53x	1.38x	1.26x	2.89x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	8.12M	17.79M	22.41M	92.55M	94.49M	67.55M	110.31M	119.96M	48.88M	31.74M
Long-Term Debt	0	0	3.09M	9.25M	0	0	0	0	0	0
Capital Lease Obligations	78K	16K	3.09M	9.25M	29.3M	25.59M	24.95M	32.12M	25.4M	17.77M
Deferred Tax Liabilities	78K	16K	1.37M	68.16M	0	0	0	0	0	0
Other Non-Current Liabilities	163K	1.59M	10.61M	5.9M	1.72M	474K	7.87M	8.06M	7.87M	7.87M
Total Liabilities	11.93M	29.95M	42.03M	222.59M	212.64M	188.59M	174.51M	191.48M	235.32M	142.69M
Total Debt+	140K	78K	3.45M	10.4M	32.55M	29.3M	29.92M	37.61M	32.12M	25.4M
Net Debt	-161.08M	-150.22M	-139.05M	-164.42M	-114.61M	-155.19M	-120.65M	-50.88M	-168.23M	-276.67M
Debt / Equity	0.00x	0.00x	0.02x	0.14x	0.45x	0.32x	0.92x	-	0.81x	0.12x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-224.40x	-164.18x	-17096.67x	-7251.05x	-	-9586.06x	-	-	-	-
Total Equity+	153.49M	134.86M	139.81M	73.35M	71.61M	90.65M	32.5M	-45.09M	39.63M	209.51M
Equity Growth %	7472.32%	-12.14%	3.67%	-47.54%	-2.38%	26.6%	-64.15%	-238.75%	187.89%	428.68%
Book Value per Share	7.12	5.91	5.27	2.53	2.11	2.31	0.63	-0.57	0.37	1.52
Total Shareholders' Equity	153.49M	134.86M	139.81M	73.35M	71.61M	90.65M	32.5M	-45.09M	39.63M	209.51M
Common Stock	185.34M	215.6M	310.04M	375.15M	539.55M	694.09M	749.85M	802.83M	935.37M	1.18B
Retained Earnings	-35.08M	-90.48M	-192.51M	-339.72M	-533.36M	-683.27M	-805.51M	-967.34M	-1.02B	-1.12B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	41K	-291K	116K	153K	267K	389K	181K	-29K	-124K	-262K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-12.53M	-31.87M	-83.67M	-22.86M	-188.23M	-115.98M	-88.99M	-127.78M	-19.43M	-151.03M
Operating CF Margin %	-8241.45%	-2146.26%	-2258.94%	-158.61%	-1177.7%	-577.69%	-217.25%	-3501.81%	-17.15%	-139.45%
Operating CF Growth %	-183.03%	-154.43%	-162.52%	72.68%	-723.34%	38.38%	23.27%	-43.59%	84.79%	-677.24%
Net Income	-19.2M	-55.4M	-102.03M	-146.65M	-193.64M	-149.91M	-122.25M	-161.82M	-57.51M	-97.01M
Depreciation & Amortization	594K	784K	2.15M	5.58M	9.2M	9.98M	9.84M	10.11M	9.21M	8.66M
Stock-Based Compensation	4.02M	6.85M	12.14M	15.6M	19.51M	14.3M	16.41M	17.19M	9.79M	13.14M
Deferred Taxes	36K	-874K	774K	44K	0	-9.14M	-12.64M	0	0	0
Other Non-Cash Items	88K	565K	3.59M	183K	0	9.14M	12.64M	12K	0	0
Working Capital Changes	1.93M	16.21M	-299K	102.39M	-23.3M	9.65M	7.01M	6.72M	19.08M	-75.82M
Change in Receivables	193K	0	-1M	-59M	10M	20M	30M	0	-21.09M	19.66M
Change in Inventory	242K	0	0	-4.08M	0	4.61M	2.04M	0	0	0
Change in Payables	1.65M	3.37M	3.89M	4.94M	-3.5M	5.12M	-6.57M	9.35M	-3.76M	3.42M
Cash from Investing+	-2.91M	-8.16M	-18.9M	-9.94M	-3.92M	-1.34M	-560K	-1.25M	-1.11M	-938K
Capital Expenditures	-1.86M	-5.57M	-18.89M	-9.94M	-3.92M	-1.34M	-560K	-1.36M	-1.11M	-938K
CapEx % of Revenue	1221.71%	374.88%	509.91%	68.95%	24.51%	6.66%	1.37%	37.3%	0.98%	0.87%
Acquisitions	3K	4K	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.05M	-2.6M	-9K	-9.94M	0	0	0	106K	0	0
Cash from Financing+	175.59M	29.12M	94.37M	65.09M	164.4M	154.54M	55.83M	67.19M	132.53M	253.89M
Debt Issued (Net)	-126K	-62K	-62K	-16K	0	0	0	0	0	0
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	112K	-817K	927K	5.11M	2.61M	912K	858K	14.86M	1.26M	17.71M
Net Change in Cash	160.17M	-10.93M	-7.79M	32.33M	-27.64M	37.34M	-33.93M	-62.06M	111.89M	101.79M
Free Cash Flow+	-14.38M	-37.44M	-102.56M	-32.8M	-192.15M	-117.32M	-89.55M	-129.14M	-20.55M	-151.96M
FCF Margin %	-9463.16%	-2521.14%	-2768.84%	-227.56%	-1202.21%	-584.35%	-218.61%	-3539.11%	-18.13%	-140.31%
FCF Growth %	-186.76%	-160.28%	-173.93%	68.02%	-485.82%	38.94%	23.67%	-44.21%	84.09%	-639.63%
FCF per Share	-0.67	-1.64	-3.87	-1.13	-5.67	-2.99	-1.73	-1.64	-0.19	-1.10
FCF Conversion (FCF/Net Income)	0.65x	0.58x	0.82x	0.16x	0.97x	0.77x	0.73x	0.79x	0.34x	1.56x
Interest Paid	0	29K	37K	0	0	0	0	0	0	0
Taxes Paid	0	554K	11K	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-24.69%	-38.43%	-74.29%	-137.6%	-267.17%	-184.78%	-198.53%	-	-145.12%	-77.87%
Return on Invested Capital (ROIC)	-	-	-10056.86%	-	-	-	-	-	-	-
Gross Margin	-5858.55%	73.54%	-2041.17%	-832.62%	-997.61%	-552.21%	100%	100%	100%	100%
Net Margin	-12631.58%	-3730.71%	-2754.72%	-1017.43%	-1211.52%	-746.68%	-298.42%	-4434.72%	-50.76%	-89.57%
Debt / Equity	0.00x	0.00x	0.02x	0.14x	0.45x	0.32x	0.92x	-	0.81x	0.12x
Interest Coverage	-224.40x	-164.18x	-17096.67x	-7251.05x	-	-9586.06x	-	-	-	-
FCF Conversion	0.65x	0.58x	0.82x	0.16x	0.97x	0.77x	0.73x	0.79x	0.34x	1.56x
Revenue Growth	-	876.97%	149.43%	289.15%	10.89%	25.61%	104.03%	-91.09%	3005.1%	-4.42%

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Wave Life Sciences Ltd. (WVE) 10-Year Financial Performance & Capital Metrics

WVE •

HealthcareBiotechnologyRNA and Genome Editing Developers

Revenue $108M -4.4%
EBITDA -$102M -73.1%
Net Income -$97M -68.7%
EPS (Diluted) -0.70 -29.6%
Gross Margin 100%
EBITDA Margin -93.94% -81.1%
Operating Margin -101.94% -69.9%
Net Margin -89.57% -76.5%
ROE -77.87% +46.3%
ROIC -
Debt/Equity 0.12 -85.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 46.6%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Shares diluted 30.3% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y46.62%

3Y38.28%

TTM103.75%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM14.43%

EPS CAGR

10Y-

5Y-

3Y-

TTM32.43%

ROCE

10Y Avg-82.54%

5Y Avg-95.74%

3Y Avg-99.9%

Latest-66.96%

Peer Comparison

RNA and Genome Editing Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALNYAlnylam Pharmaceuticals, Inc.	44.07B	332.92	142.88	65.19%	8.45%	39.76%	1.06%	3.76
SLXNWSilexion Therapeutics Ltd.	63.6M	0.03	0.00			-132.54%
EDITEditas Medicine, Inc.	205.18M	2.20	-0.76	-58.64%	-430.84%	-14.85%		0.26
SGMOSangamo Therapeutics, Inc.	92.01M	0.43	-0.88	-67.2%	-331.28%	-17.44%		1.34
CAMPCAMP4 Therapeutics Corporation	210.49M	4.49	-1.69	86.29%	-14.04%	-133.54%		0.14
SLNSilence Therapeutics plc	256.95M	5.44	-1.71	70.47%	-252.16%	-84.61%		0.00
PEPGPepGen Inc.	202.89M	6.22	-2.18			-57.35%		0.16
ARCTArcturus Therapeutics Holdings Inc.	224.14M	8.23	-2.74	-12.27%	-72.48%	-29.71%		0.12

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	152K	1.49M	3.7M	14.41M	15.98M	20.08M	40.96M	3.65M	113.31M	108.3M
Revenue Growth %	-	876.97%	149.43%	289.15%	10.89%	25.61%	104.03%	-91.09%	3005.1%	-4.42%
Cost of Goods Sold+	9.06M	393K	79.31M	134.43M	175.43M	130.94M	0	0	0	0
COGS % of Revenue	5958.55%	26.46%	2141.17%	932.62%	1097.61%	652.21%	-	-	-	-
Gross Profit+	-8.9M	1.09M	-75.61M	-120.01M	-159.45M	-110.87M	40.96M	3.65M	113.31M	108.3M
Gross Margin %	-5858.55%	73.54%	-2041.17%	-832.62%	-997.61%	-552.21%	100%	100%	100%	100%
Gross Profit Growth %	-271.82%	112.26%	-7023.53%	-58.74%	-32.86%	30.47%	136.95%	-91.09%	3005.1%	-4.42%
Operating Expenses+	19.45M	56.81M	106.28M	173.94M	48.87M	42.51M	167.98M	166.37M	181.3M	218.71M
OpEx % of Revenue	12796.05%	3825.72%	2869.44%	1206.72%	305.76%	211.73%	410.07%	4559.3%	160.01%	201.94%
Selling, General & Admin	10.39M	15.99M	26.98M	39.51M	48.87M	42.51M	46.1M	50.51M	51.29M	59.02M
SG&A % of Revenue	6837.5%	1077.04%	728.27%	274.1%	305.76%	211.73%	112.55%	1384.3%	45.27%	54.5%
Research & Development	9.06M	40.82M	79.31M	134.43M	175.43M	130.94M	121.88M	115.86M	130.01M	159.68M
R&D % of Revenue	5958.55%	2748.69%	2141.17%	932.62%	1097.61%	652.21%	297.52%	3175.01%	114.74%	147.44%
Other Operating Expenses	56K	-50K	-331K	9.55M	-175.43M	-130.94M	0	0	0	0
Operating Income+	-19.3M	-55.33M	-102.58M	-159.52M	-208.32M	-153.38M	-127.02M	-162.72M	-68M	-110.4M
Operating Margin %	-12696.05%	-3725.72%	-2769.44%	-1106.72%	-1303.37%	-763.94%	-310.07%	-4459.3%	-60.01%	-101.94%
Operating Income Growth %	-257.77%	-186.7%	-85.41%	-55.51%	-30.59%	26.37%	17.19%	-28.11%	58.21%	-62.37%
EBITDA+	-18.7M	-54.54M	-100.42M	-153.94M	-200.73M	-145.26M	-117.18M	-152.61M	-58.79M	-101.74M
EBITDA Margin %	-12305.26%	-3672.93%	-2711.26%	-1068%	-1255.89%	-723.53%	-286.06%	-4182.13%	-51.89%	-93.94%
EBITDA Growth %	-265.81%	-191.61%	-84.12%	-53.29%	-30.39%	27.63%	19.33%	-30.23%	61.48%	-73.06%
D&A (Non-Cash Add-back)	594K	784K	2.15M	5.58M	7.59M	8.11M	9.84M	10.11M	9.21M	8.66M
EBIT	-19.3M	-55.72M	-102.39M	-159.52M	-208.32M	-153.38M	-127.02M	-162.72M	-68M	-110.4M
Net Interest Income+	86K	337K	6K	22K	0	-16K	30K	0	0	0
Interest Income	0	0	0	0	-	0	30K	0	0	0
Interest Expense	86K	337K	6K	22K	-	16K	-	0	0	0
Other Income/Expense	142K	542K	1.25M	12.94M	14.68M	2.63M	4.57M	1.58M	9.81M	13.39M
Pretax Income+	-19.16M	-54.78M	-101.33M	-146.58M	-193.64M	-150.75M	-122.45M	-161.14M	-58.19M	-97.01M
Pretax Margin %	-12602.63%	-3689.23%	-2735.61%	-1016.96%	-1211.52%	-750.86%	-298.92%	-4416.06%	-51.36%	-89.57%
Income Tax+	44K	616K	708K	69K	0	-841K	-204K	681K	-677K	0
Effective Tax Rate %	100.23%	101.12%	100.7%	100.05%	100%	99.44%	99.83%	100.42%	98.84%	100%
Net Income+	-19.2M	-55.4M	-102.03M	-146.65M	-193.64M	-149.91M	-122.25M	-161.82M	-57.51M	-97.01M
Net Margin %	-12631.58%	-3730.71%	-2754.72%	-1017.43%	-1211.52%	-746.68%	-298.42%	-4434.72%	-50.76%	-89.57%
Net Income Growth %	-267.18%	-188.55%	-84.18%	-43.73%	-32.04%	22.58%	18.45%	-32.38%	64.46%	-68.67%
Net Income (Continuing)	-19.2M	-55.4M	-101.98M	-146.65M	-193.64M	-149.91M	-122.25M	-161.82M	-57.51M	-97.01M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.89	-2.43	-3.85	-5.06	-5.30	-3.82	-2.36	-2.05	-0.54	-0.70
EPS Growth %	-256%	-173.03%	-58.44%	-31.43%	-4.74%	27.92%	38.22%	13.14%	73.66%	-29.63%
EPS (Basic)	-0.89	-2.43	-3.85	-5.06	-5.30	-3.82	-2.36	-2.05	-0.54	-0.70
Diluted Shares Outstanding	21.55M	22.8M	26.51M	28.97M	33.87M	39.23M	51.83M	78.86M	106.1M	138.28M
Basic Shares Outstanding	21.55M	22.8M	26.51M	28.97M	33.87M	39.23M	51.83M	78.86M	106.1M	138.28M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	161.38M	151.99M	150.49M	202.27M	185.48M	230.04M	162.56M	98.54M	235.37M	320.39M
Cash & Short-Term Investments	161.22M	150.29M	142.5M	174.82M	147.16M	184.5M	150.56M	88.5M	200.35M	302.08M
Cash Only	161.22M	150.29M	142.5M	174.82M	147.16M	184.5M	150.56M	88.5M	200.35M	302.08M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	0	0	1M	10M	20M	30M	0	0	21.09M	1.42M
Days Sales Outstanding	-	-	98.54	253.23	456.74	545.4	-	-	67.93	4.79
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	164K	1.7M	0	10.87M	8.69M	5.11M	5.42M	2.11M	4.02M	7.35M
Total Non-Current Assets+	4.04M	12.82M	31.36M	93.67M	98.77M	49.2M	44.44M	47.85M	39.58M	31.81M
Property, Plant & Equipment	2.79M	8.61M	27.33M	39.93M	54.47M	45.43M	40.64M	44.13M	35.72M	28M
Fixed Asset Turnover	0.05x	0.17x	0.14x	0.36x	0.29x	0.44x	1.01x	0.08x	3.17x	3.87x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	1.05M	3.6M	3.61M	53.63M	33.65M	3.65M	0	0	0	0
Other Non-Current Assets	1.06M	3.65M	411K	111K	10.66M	115K	3.8M	3.72M	3.85M	3.81M
Total Assets+	165.42M	164.81M	181.84M	295.94M	284.25M	279.24M	207.01M	146.39M	274.95M	352.21M
Asset Turnover	0.00x	0.01x	0.02x	0.05x	0.06x	0.07x	0.20x	0.02x	0.41x	0.31x
Asset Growth %	5530.5%	-0.37%	10.33%	62.74%	-3.95%	-1.76%	-25.87%	-29.28%	87.82%	28.1%
Total Current Liabilities+	3.82M	12.15M	19.62M	130.04M	118.15M	121.04M	64.2M	71.52M	186.44M	110.95M
Accounts Payable	2.81M	4.94M	7.6M	13.09M	9.07M	13.79M	7.28M	16.91M	12.84M	16.26M
Days Payables Outstanding	113.28	4.59K	34.97	35.54	18.88	38.45	-	-	-	-
Short-Term Debt	62K	62K	0	1.16M	3.24M	3.71M	0	0	0	0
Deferred Revenue (Current)	591K	2.71M	2.71M	100.94M	89.65M	91.56M	37.1M	31.56M	150.06M	65.97M
Other Current Liabilities	291K	3.38M	1.33M	6.47M	7.52M	2.97M	10.18M	12.29M	14.06M	15.36M
Current Ratio	42.27x	12.50x	7.67x	1.56x	1.57x	1.90x	2.53x	1.38x	1.26x	2.89x
Quick Ratio	42.27x	12.50x	7.67x	1.56x	1.57x	1.90x	2.53x	1.38x	1.26x	2.89x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	8.12M	17.79M	22.41M	92.55M	94.49M	67.55M	110.31M	119.96M	48.88M	31.74M
Long-Term Debt	0	0	3.09M	9.25M	0	0	0	0	0	0
Capital Lease Obligations	78K	16K	3.09M	9.25M	29.3M	25.59M	24.95M	32.12M	25.4M	17.77M
Deferred Tax Liabilities	78K	16K	1.37M	68.16M	0	0	0	0	0	0
Other Non-Current Liabilities	163K	1.59M	10.61M	5.9M	1.72M	474K	7.87M	8.06M	7.87M	7.87M
Total Liabilities	11.93M	29.95M	42.03M	222.59M	212.64M	188.59M	174.51M	191.48M	235.32M	142.69M
Total Debt+	140K	78K	3.45M	10.4M	32.55M	29.3M	29.92M	37.61M	32.12M	25.4M
Net Debt	-161.08M	-150.22M	-139.05M	-164.42M	-114.61M	-155.19M	-120.65M	-50.88M	-168.23M	-276.67M
Debt / Equity	0.00x	0.00x	0.02x	0.14x	0.45x	0.32x	0.92x	-	0.81x	0.12x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-224.40x	-164.18x	-17096.67x	-7251.05x	-	-9586.06x	-	-	-	-
Total Equity+	153.49M	134.86M	139.81M	73.35M	71.61M	90.65M	32.5M	-45.09M	39.63M	209.51M
Equity Growth %	7472.32%	-12.14%	3.67%	-47.54%	-2.38%	26.6%	-64.15%	-238.75%	187.89%	428.68%
Book Value per Share	7.12	5.91	5.27	2.53	2.11	2.31	0.63	-0.57	0.37	1.52
Total Shareholders' Equity	153.49M	134.86M	139.81M	73.35M	71.61M	90.65M	32.5M	-45.09M	39.63M	209.51M
Common Stock	185.34M	215.6M	310.04M	375.15M	539.55M	694.09M	749.85M	802.83M	935.37M	1.18B
Retained Earnings	-35.08M	-90.48M	-192.51M	-339.72M	-533.36M	-683.27M	-805.51M	-967.34M	-1.02B	-1.12B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	41K	-291K	116K	153K	267K	389K	181K	-29K	-124K	-262K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-12.53M	-31.87M	-83.67M	-22.86M	-188.23M	-115.98M	-88.99M	-127.78M	-19.43M	-151.03M
Operating CF Margin %	-8241.45%	-2146.26%	-2258.94%	-158.61%	-1177.7%	-577.69%	-217.25%	-3501.81%	-17.15%	-139.45%
Operating CF Growth %	-183.03%	-154.43%	-162.52%	72.68%	-723.34%	38.38%	23.27%	-43.59%	84.79%	-677.24%
Net Income	-19.2M	-55.4M	-102.03M	-146.65M	-193.64M	-149.91M	-122.25M	-161.82M	-57.51M	-97.01M
Depreciation & Amortization	594K	784K	2.15M	5.58M	9.2M	9.98M	9.84M	10.11M	9.21M	8.66M
Stock-Based Compensation	4.02M	6.85M	12.14M	15.6M	19.51M	14.3M	16.41M	17.19M	9.79M	13.14M
Deferred Taxes	36K	-874K	774K	44K	0	-9.14M	-12.64M	0	0	0
Other Non-Cash Items	88K	565K	3.59M	183K	0	9.14M	12.64M	12K	0	0
Working Capital Changes	1.93M	16.21M	-299K	102.39M	-23.3M	9.65M	7.01M	6.72M	19.08M	-75.82M
Change in Receivables	193K	0	-1M	-59M	10M	20M	30M	0	-21.09M	19.66M
Change in Inventory	242K	0	0	-4.08M	0	4.61M	2.04M	0	0	0
Change in Payables	1.65M	3.37M	3.89M	4.94M	-3.5M	5.12M	-6.57M	9.35M	-3.76M	3.42M
Cash from Investing+	-2.91M	-8.16M	-18.9M	-9.94M	-3.92M	-1.34M	-560K	-1.25M	-1.11M	-938K
Capital Expenditures	-1.86M	-5.57M	-18.89M	-9.94M	-3.92M	-1.34M	-560K	-1.36M	-1.11M	-938K
CapEx % of Revenue	1221.71%	374.88%	509.91%	68.95%	24.51%	6.66%	1.37%	37.3%	0.98%	0.87%
Acquisitions	3K	4K	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.05M	-2.6M	-9K	-9.94M	0	0	0	106K	0	0
Cash from Financing+	175.59M	29.12M	94.37M	65.09M	164.4M	154.54M	55.83M	67.19M	132.53M	253.89M
Debt Issued (Net)	-126K	-62K	-62K	-16K	0	0	0	0	0	0
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	112K	-817K	927K	5.11M	2.61M	912K	858K	14.86M	1.26M	17.71M
Net Change in Cash	160.17M	-10.93M	-7.79M	32.33M	-27.64M	37.34M	-33.93M	-62.06M	111.89M	101.79M
Free Cash Flow+	-14.38M	-37.44M	-102.56M	-32.8M	-192.15M	-117.32M	-89.55M	-129.14M	-20.55M	-151.96M
FCF Margin %	-9463.16%	-2521.14%	-2768.84%	-227.56%	-1202.21%	-584.35%	-218.61%	-3539.11%	-18.13%	-140.31%
FCF Growth %	-186.76%	-160.28%	-173.93%	68.02%	-485.82%	38.94%	23.67%	-44.21%	84.09%	-639.63%
FCF per Share	-0.67	-1.64	-3.87	-1.13	-5.67	-2.99	-1.73	-1.64	-0.19	-1.10
FCF Conversion (FCF/Net Income)	0.65x	0.58x	0.82x	0.16x	0.97x	0.77x	0.73x	0.79x	0.34x	1.56x
Interest Paid	0	29K	37K	0	0	0	0	0	0	0
Taxes Paid	0	554K	11K	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-24.69%	-38.43%	-74.29%	-137.6%	-267.17%	-184.78%	-198.53%	-	-145.12%	-77.87%
Return on Invested Capital (ROIC)	-	-	-10056.86%	-	-	-	-	-	-	-
Gross Margin	-5858.55%	73.54%	-2041.17%	-832.62%	-997.61%	-552.21%	100%	100%	100%	100%
Net Margin	-12631.58%	-3730.71%	-2754.72%	-1017.43%	-1211.52%	-746.68%	-298.42%	-4434.72%	-50.76%	-89.57%
Debt / Equity	0.00x	0.00x	0.02x	0.14x	0.45x	0.32x	0.92x	-	0.81x	0.12x
Interest Coverage	-224.40x	-164.18x	-17096.67x	-7251.05x	-	-9586.06x	-	-	-	-
FCF Conversion	0.65x	0.58x	0.82x	0.16x	0.97x	0.77x	0.73x	0.79x	0.34x	1.56x
Revenue Growth	-	876.97%	149.43%	289.15%	10.89%	25.61%	104.03%	-91.09%	3005.1%	-4.42%

Wave Life Sciences Ltd. (WVE) 10-Year Financial Performance & Capital Metrics

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Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

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Wave Life Sciences Ltd. (WVE) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare WVE vs Peers

vs ALNY

vs IONS

Compare Top 5

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Deep Dive Analysis

Valuation Overview

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Dividend History

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Financial Ratios