Zai Lab Limited (ZLAB) 10-Year Financial Performance & Capital Metrics

ZLAB • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsSolid Tumor Oncology

AboutZai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors. It also develops Odronextamab to treat follicular lymphoma, diffuse large B-cell lymphoma, and other B-celllymphomas; Repotrectinib, a tyrosine kinase inhibitor (TKI) to target ROS1 and TRK A/B/C in TKI-naïve- or -pretreated cancer patients; Margetuximab for the treatment of breast and gastroesophageal cancers; Adagrasib for treating KRAS-G12C-mutated NSCLC, colorectal cancer, pancreatic cancer, and other solid tumors; and Bemarituzumab to treat gastric and gastroesophageal junction cancer. In addition, the company develops CLN-081 for the treatment of patients with EGFR exon 20 insertion NSCLC; Elzovantinib, an orally bioavailable multi-targeted kinase inhibitor; Tebotelimab, a tetravalent IgG4 monoclonal antibody; Retifanlimab that inhibits interactions between PD-1 and its ligands; ZL-2309, an orally active, selective, and ATP-competitive cell division cycle 7 (CDC7) kinase inhibitor; ZL-1201, a humanized IgG4 monoclonal antibody; Efgartigimod to reduce disease-causing immunoglobulin G antibodies; ZL-1102, a human nanobody targeting interleukin- 17A; KarXT for the treatment of psychiatric and neurological conditions; ZL-2313, an investigational inhibitor of triple-mutant EGFR harboring; ZL-2314, an investigational inhibitor of double-mutant EGFR harboring; and Sulbactam/durlobactam for the treatment of serious infections caused by Acinetobacter. Zai Lab Limited was incorporated in 2013 and is headquartered in Shanghai, China.Show more

Revenue $399M +49.6%
EBITDA -$262M +26.8%
Net Income -$257M +23.2%
EPS (Diluted) -2.60 +92.5%
Gross Margin 62.94% -1.8%
EBITDA Margin -65.63% +51.0%
Operating Margin -70.71% +48.6%
Net Margin -64.44% +48.6%
ROE -31.41% +13.6%
ROIC -74.79% +89.3%
Debt/Equity 0.18 +859.0%
Interest Coverage -125.16

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 98.4%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 9 (bottom 9%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y98.38%

3Y40.35%

TTM24.14%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM23.64%

EPS CAGR

10Y-

5Y-

3Y-

TTM93.09%

ROCE

10Y Avg-60.49%

5Y Avg-39.41%

3Y Avg-34.5%

Latest-32.81%

Peer Comparison

Solid Tumor Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TLXTelix Pharmaceuticals Limited	2.49B	7.45	53.21	55.85%	3.98%	15.63%	0.36%	1.02
EXELExelixis, Inc.	11.82B	44.08	25.05	18.49%	29.63%	31.37%	5.36%	0.09
INBXInhibrx Biosciences, Inc.	1.07B	73.28	0.63	-88.89%	-110.78%	-421.09%		0.06
NUVBNuvation Bio Inc.	2.24B	6.55	-3.10		-8.13%	-66.74%		0.02
RLAYRelay Therapeutics, Inc.	1.38B	7.94	-3.36	-60.83%	-26.71%	-48.97%		0.06
ORICORIC Pharmaceuticals, Inc.	987.53M	10.14	-5.54			-33.24%		0.01
ZLABZai Lab Limited	2.07B	18.72	-7.20	49.59%	-46.83%	-27.21%		0.18
TNGXTango Therapeutics, Inc.	1.41B	10.44	-8.77	15.17%	-151.15%	-62.81%		0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	129.45K	12.98M	48.96M	144.31M	215.04M	266.72M	398.99M
Revenue Growth %	-	-	-	-	99.31%	2.77%	1.95%	0.49%	0.24%	0.5%
Cost of Goods Sold+	0	0	0	43.59K	3.75M	239.45M	52.24M	74.02M	95.82M	147.86M
COGS % of Revenue	-	-	-	0.34%	0.29%	4.89%	0.36%	0.34%	0.36%	0.37%
Gross Profit+	0	0	0	85.86K	9.24M	-190.49M	92.07M	141.02M	170.9M	251.13M
Gross Margin %	-	-	-	0.66%	0.71%	-3.89%	0.64%	0.66%	0.64%	0.63%
Gross Profit Growth %	-	-	-	-	106.57%	-21.62%	1.48%	0.53%	0.21%	0.47%
Operating Expenses+	16.35M	38.53M	51.39M	141.85M	212.43M	111.31M	792.14M	545.38M	537.48M	533.25M
OpEx % of Revenue	-	-	-	1095.8%	16.36%	2.27%	5.49%	2.54%	2.02%	1.34%
Selling, General & Admin	2.76M	6.38M	12.05M	21.58M	70.21M	111.31M	218.83M	258.97M	281.61M	298.74M
SG&A % of Revenue	-	-	-	166.67%	5.41%	2.27%	1.52%	1.2%	1.06%	0.75%
Research & Development	13.59M	32.15M	39.34M	120.28M	142.22M	222.71M	573.31M	286.41M	265.87M	234.5M
R&D % of Revenue	-	-	-	929.13%	10.95%	4.55%	3.97%	1.33%	1%	0.59%
Other Operating Expenses	0	0	0	58.78K	0	-222.71M	0	0	-10M	0
Operating Income+	-16.35M	-38.53M	-51.39M	-141.77M	-203.2M	-301.8M	-700.06M	-404.36M	-366.57M	-282.12M
Operating Margin %	-	-	-	-1095.14%	-15.65%	-6.16%	-4.85%	-1.88%	-1.37%	-0.71%
Operating Income Growth %	-	-1.36%	-0.33%	-1.76%	-0.43%	-0.49%	-1.32%	0.42%	0.09%	0.23%
EBITDA+	-16.22M	-38.33M	-50.84M	-140.12M	-199.43M	-297.16M	-693.58M	-396.13M	-357.54M	-261.84M
EBITDA Margin %	-	-	-	-1082.4%	-15.36%	-6.07%	-4.81%	-1.84%	-1.34%	-0.66%
EBITDA Growth %	-	-1.36%	-0.33%	-1.76%	-0.42%	-0.49%	-1.33%	0.43%	0.1%	0.27%
D&A (Non-Cash Add-back)	126.51K	199K	548K	1.65M	3.77M	4.64M	6.49M	8.23M	9.03M	20.27M
EBIT	-16.35M	-38.53M	-51.39M	-138.45M	-194.03M	-301.8M	-695.95M	-443.06M	-374.14M	-254.85M
Net Interest Income+	0	0	0	3.22M	7.94M	4.94M	2.19M	14.58M	39.8M	34.85M
Interest Income	5K	403.27K	527.35K	3.26M	8.23M	5.12M	2.19M	14.58M	39.8M	37.1M
Interest Expense	0	0	0	39.67K	293K	181K	0	0	0	2.25M
Other Income/Expense	-1.67M	1.02M	1.01M	3.28M	-2.83M	32.9M	-3.35M	-38.93M	31.95M	25.01M
Pretax Income+	-18.02M	-37.51M	-50.13M	-138.49M	-206.02M	-268.9M	-703.41M	-443.29M	-334.62M	-257.1M
Pretax Margin %	-	-	-	-1069.8%	-15.87%	-5.49%	-4.87%	-2.06%	-1.25%	-0.64%
Income Tax+	0	0	477.7K	3.32M	-10.95M	0	1.06M	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	0.95%	1%	1%	1%	1%	1%
Net Income+	-18.02M	-37.51M	-50.38M	-139.07M	-195.07M	-268.9M	-704.47M	-443.29M	-334.62M	-257.1M
Net Margin %	-	-	-	-1074.34%	-15.02%	-5.49%	-4.88%	-2.06%	-1.25%	-0.64%
Net Income Growth %	-	-1.08%	-0.34%	-1.76%	-0.4%	-0.38%	-1.62%	0.37%	0.25%	0.23%
Net Income (Continuing)	-18.02M	-37.51M	-50.38M	-139.07M	-195.07M	-268.9M	-704.47M	-443.29M	-334.62M	-257.1M
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)+	-20.70	-39.70	-23.20	-26.40	-30.30	-34.60	-75.80	-46.30	-34.60	-2.60
EPS Growth %	-	-0.92%	0.42%	-0.14%	-0.15%	-0.14%	-1.19%	0.39%	0.25%	0.92%
EPS (Basic)	-20.70	-39.70	-23.20	-26.40	-30.30	-34.60	-75.80	-46.30	-34.60	-2.60
Diluted Shares Outstanding	869.37K	943.9K	2.18M	5.26M	6.44M	7.77M	9.3M	9.58M	9.66M	98.95M
Basic Shares Outstanding	869.37K	943.9K	2.18M	5.26M	6.44M	7.77M	9.3M	9.58M	9.66M	98.95M
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+	13.23M	84.09M	230.61M	269.14M	292.46M	1.22B	1.5B	1.12B	939.61M	1.05B
Cash & Short-Term Investments	13.16M	83.95M	229.66M	263.3M	275.93M	1.19B	1.41B	1.01B	806.45M	779.67M
Cash Only	13.16M	83.95M	229.66M	62.95M	75.93M	442.12M	964.1M	1.01B	790.15M	449.67M
Short-Term Investments	0	0	0	200.35M	200M	744.68M	445M	0	16.3M	330M
Accounts Receivable	0	0	0	90K	3.79M	5.17M	54.81M	48.57M	65.33M	89.41M
Days Sales Outstanding	-	-	-	253.76	106.56	38.51	138.63	82.44	89.41	81.79
Inventory	0	0	0	3.82K	6M	13.14M	18.95M	31.62M	44.83M	39.88M
Days Inventory Outstanding	-	-	-	32	584.67	20.04	132.41	155.93	170.76	98.43
Other Current Assets	0	0	0	-603	0	0	0	35.67M	23M	141.53M
Total Non-Current Assets+	710.11K	4.81M	19.02M	32.84M	62.69M	81.6M	109.08M	95.8M	96.69M	135.27M
Property, Plant & Equipment	707.58K	2.66M	11.98M	20.77M	36.86M	47.14M	58.28M	78.77M	68.69M	69.47M
Fixed Asset Turnover	-	-	-	0.01x	0.35x	1.04x	2.48x	2.73x	3.88x	5.74x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	2.52K	7K	20.09K	321.57K	8.8M	9.44M	9.66M	8.4M	16.46M	58.93M
Long-Term Investments	0	500K	1.65M	3.15M	2.4M	1.28M	15.61M	6.43M	9.22M	3.12M
Other Non-Current Assets	0	3.06M	5.5M	8.88M	14.62M	23.75M	25.53M	2.2M	2.32M	3.75M
Total Assets+	13.94M	88.91M	249.63M	301.99M	355.15M	1.3B	1.61B	1.22B	1.04B	1.19B
Asset Turnover	-	-	-	0.00x	0.04x	0.04x	0.09x	0.18x	0.26x	0.34x
Asset Growth %	-	5.38%	1.81%	0.21%	0.18%	2.65%	0.24%	-0.24%	-0.15%	0.14%
Total Current Liabilities+	3.94M	5.17M	12.07M	48.84M	46.63M	98.04M	192.9M	139.84M	203.07M	299.38M
Accounts Payable	1.45M	523.34K	8.97M	37.43M	22.66M	62.64M	126.16M	65.97M	112.99M	100.91M
Days Payables Outstanding	-	-	-	313.44K	2.21K	95.49	881.52	325.33	430.43	249.09
Short-Term Debt	0	0	0	3.64M	6.45M	0	0	0	0	131.71M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	2.14M	4.05M	778.96K	2.5M	2.39M	4.57M	4.42M	4.05M	5.35M	6.35M
Current Ratio	3.36x	16.25x	19.11x	5.51x	6.27x	12.40x	7.78x	8.04x	4.63x	3.51x
Quick Ratio	3.36x	16.25x	19.11x	5.51x	6.14x	12.27x	7.68x	7.81x	4.41x	3.38x
Cash Conversion Cycle	-	-	-	-313.15K	-1.52K	-36.94	-610.48	-86.96	-170.26	-68.86
Total Non-Current Liabilities+	28.37M	135.29M	2.39M	2.06M	13.86M	30.25M	37.1M	34.7M	37.11M	45.47M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	10.98M	13.39M	9.61M	13.34M	8.05M	13.71M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	28.31M	134.51M	0	0	0	0	0	0	325K	325K
Total Liabilities	32.31M	140.46M	14.46M	50.91M	60.49M	128.29M	230M	174.54M	240.18M	344.86M
Total Debt+	0	0	0	3.64M	21.78M	18.6M	15.54M	20.39M	15.15M	153.47M
Net Debt	-13.16M	-83.95M	-229.66M	-59.31M	-54.15M	-423.52M	-948.56M	-988.08M	-775M	-296.2M
Debt / Equity	-	-	-	0.01x	0.07x	0.02x	0.01x	0.02x	0.02x	0.18x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-3573.50x	-693.50x	-1667.41x	-	-	-	-125.16x
Total Equity+	-18.37M	-51.55M	235.17M	251.08M	294.66M	1.17B	1.38B	1.05B	796.12M	840.9M
Equity Growth %	-	-1.81%	5.56%	0.07%	0.17%	2.97%	0.18%	-0.24%	-0.24%	0.06%
Book Value per Share	-21.13	-54.62	108.11	47.73	45.78	150.56	148.39	109.14	82.38	8.50
Total Shareholders' Equity	-18.37M	-51.55M	235.17M	251.08M	294.66M	1.17B	1.38B	1.05B	796.12M	840.9M
Common Stock	533	579	3K	3.48K	4K	5K	6K	6K	6K	7K
Retained Earnings	-22.66M	-60.17M	-110.55M	-249.63M	-444.7M	-713.6M	-1.42B	-1.86B	-2.2B	-2.45B
Treasury Stock	0	0	0	0	0	0	-4.28M	-11.86M	-20.84M	-20.84M
Accumulated OCI	-103.62K	-698.53K	449.91K	2.66M	4.62M	-14.52M	-23.64M	25.68M	37.63M	50.52M
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+	-11.46M	-32.16M	-32.37M	-97.54M	-191.01M	-216.06M	-549.23M	-367.64M	-198.18M	-214.87M
Operating CF Margin %	-	-	-	-753.47%	-14.71%	-4.41%	-3.81%	-1.71%	-0.74%	-0.54%
Operating CF Growth %	-	-1.8%	-0.01%	-2.01%	-0.96%	-0.13%	-1.54%	0.33%	0.46%	-0.08%
Net Income	-18.02M	-37.51M	-50.38M	-139.07M	-195.07M	-268.9M	-704.47M	-443.29M	-334.62M	-257.1M
Depreciation & Amortization	126.51K	199K	548.13K	1.65M	3.77M	4.64M	6.49M	8.23M	9.03M	11.86M
Stock-Based Compensation	2.7M	4.93M	9.93M	12.23M	20.29M	24.83M	40.71M	61.3M	79.63M	70.65M
Deferred Taxes	0	0	0	587.25K	767K	1.13M	17.08M	0	0	0
Other Non-Cash Items	2.02M	1.92M	62.61K	-312K	2.52M	4.01M	67.85M	72.36M	8.17M	28.12M
Working Capital Changes	1.71M	-1.69M	7.48M	27.38M	-23.28M	18.25M	23.11M	-66.25M	39.61M	-68.39M
Change in Receivables	0	0	0	-89.71K	-3.7M	-1.38M	-42.32M	25.14M	-17.69M	-26.58M
Change in Inventory	0	0	0	-3.82K	-6M	-7.17M	-7.17M	-15.38M	-14.91M	3.9M
Change in Payables	1.29M	-929.72K	8.44M	28.46M	-14.77M	39.98M	63.52M	-53.77M	36.8M	-2.21M
Cash from Investing+	-738.47K	-2.73M	-10.43M	-212.55M	-14.89M	-554.83M	249.96M	420.02M	-10.78M	-375.19M
Capital Expenditures	-738.47K	-2.23M	-9.12M	-10.12M	-15.24M	-10.67M	-18.95M	-24.59M	-7.21M	-5.66M
CapEx % of Revenue	-	-	-	78.16%	1.17%	0.22%	0.13%	0.11%	0.03%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-505.62K	68.1K	-102.83K	-9.21M	-539K	3K	-399K	12.74M	-55.86M
Cash from Financing+	18.28M	106.2M	187.86M	144.15M	219.3M	1.13B	820.2M	-1.73M	-6.43M	349.89M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	-1.67M	-496.2K	201K	1.28M	1.33M	-1.73M	-6.43M	1.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-12.2M	-34.39M	-41.48M	-107.66M	-206.25M	-226.72M	-568.18M	-392.63M	-206.67M	-276.39M
FCF Margin %	-	-	-	-831.63%	-15.88%	-4.63%	-3.94%	-1.83%	-0.77%	-0.69%
FCF Growth %	-	-1.82%	-0.21%	-1.6%	-0.92%	-0.1%	-1.51%	0.31%	0.47%	-0.34%
FCF per Share	-14.04	-36.43	-19.07	-20.46	-32.04	-29.19	-61.10	-40.98	-21.39	-2.79
FCF Conversion (FCF/Net Income)	0.64x	0.86x	0.64x	0.70x	0.98x	0.80x	0.78x	0.83x	0.59x	0.84x
Interest Paid	0	0	0	0	0	0	0	0	0	2.02M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-54.88%	-57.2%	-71.49%	-36.74%	-55.27%	-36.55%	-36.34%	-31.41%
Return on Invested Capital (ROIC)	-	-	-699.41%	-107.79%	-70.51%	-45.9%	-89.2%	-124.06%	-699.25%	-74.79%
Gross Margin	-	-	-	66.33%	71.13%	-389.09%	63.8%	65.58%	64.08%	62.94%
Net Margin	-	-	-	-107433.56%	-1502.31%	-549.26%	-488.16%	-206.14%	-125.46%	-64.44%
Debt / Equity	-	-	-	0.01x	0.07x	0.02x	0.01x	0.02x	0.02x	0.18x
Interest Coverage	-	-	-	-3573.50x	-693.50x	-1667.41x	-	-	-	-125.16x
FCF Conversion	0.64x	0.86x	0.64x	0.70x	0.98x	0.80x	0.78x	0.83x	0.59x	0.84x
Revenue Growth	-	-	-	-	9930.55%	277.04%	194.77%	49.01%	24.03%	49.59%

Revenue by Segment

	2020	2021	2022	2023	2024
Zejula	32.14M	93.58M	145.19M	168.84M	187.08M
Zejula Growth	-	191.18%	55.16%	16.29%	10.80%
Nuzyra	-	3K	5.2M	21.66M	43.2M
Nuzyra Growth	-	-	173233.33%	316.46%	99.48%
Optune	16.42M	38.9M	47.32M	46.97M	40.48M
Optune Growth	-	136.95%	21.64%	-0.74%	-13.83%
Qinlock	-	11.62M	14.96M	19.24M	28.83M
Qinlock Growth	-	-	28.72%	28.64%	49.82%
Other	402K	-	-	-	-
Other Growth	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Zai Lab Limited (ZLAB) reported $441.6M in revenue for fiscal year 2024.

Zai Lab Limited (ZLAB) grew revenue by 49.6% over the past year. This is strong growth.

Zai Lab Limited (ZLAB) reported a net loss of $206.8M for fiscal year 2024.

Dividend & Returns

Zai Lab Limited (ZLAB) has a return on equity (ROE) of -31.4%. Negative ROE indicates the company is unprofitable.

Zai Lab Limited (ZLAB) had negative free cash flow of $206.8M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Zai Lab Limited (ZLAB) 10-Year Financial Performance & Capital Metrics

ZLAB • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsSolid Tumor Oncology

Revenue $399M +49.6%
EBITDA -$262M +26.8%
Net Income -$257M +23.2%
EPS (Diluted) -2.60 +92.5%
Gross Margin 62.94% -1.8%
EBITDA Margin -65.63% +51.0%
Operating Margin -70.71% +48.6%
Net Margin -64.44% +48.6%
ROE -31.41% +13.6%
ROIC -74.79% +89.3%
Debt/Equity 0.18 +859.0%
Interest Coverage -125.16

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 98.4%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 9 (bottom 9%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y98.38%

3Y40.35%

TTM24.14%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM23.64%

EPS CAGR

10Y-

5Y-

3Y-

TTM93.09%

ROCE

10Y Avg-60.49%

5Y Avg-39.41%

3Y Avg-34.5%

Latest-32.81%

Peer Comparison

Solid Tumor Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TLXTelix Pharmaceuticals Limited	2.49B	7.45	53.21	55.85%	3.98%	15.63%	0.36%	1.02
EXELExelixis, Inc.	11.82B	44.08	25.05	18.49%	29.63%	31.37%	5.36%	0.09
INBXInhibrx Biosciences, Inc.	1.07B	73.28	0.63	-88.89%	-110.78%	-421.09%		0.06
NUVBNuvation Bio Inc.	2.24B	6.55	-3.10		-8.13%	-66.74%		0.02
RLAYRelay Therapeutics, Inc.	1.38B	7.94	-3.36	-60.83%	-26.71%	-48.97%		0.06
ORICORIC Pharmaceuticals, Inc.	987.53M	10.14	-5.54			-33.24%		0.01
ZLABZai Lab Limited	2.07B	18.72	-7.20	49.59%	-46.83%	-27.21%		0.18
TNGXTango Therapeutics, Inc.	1.41B	10.44	-8.77	15.17%	-151.15%	-62.81%		0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	129.45K	12.98M	48.96M	144.31M	215.04M	266.72M	398.99M
Revenue Growth %	-	-	-	-	99.31%	2.77%	1.95%	0.49%	0.24%	0.5%
Cost of Goods Sold+	0	0	0	43.59K	3.75M	239.45M	52.24M	74.02M	95.82M	147.86M
COGS % of Revenue	-	-	-	0.34%	0.29%	4.89%	0.36%	0.34%	0.36%	0.37%
Gross Profit+	0	0	0	85.86K	9.24M	-190.49M	92.07M	141.02M	170.9M	251.13M
Gross Margin %	-	-	-	0.66%	0.71%	-3.89%	0.64%	0.66%	0.64%	0.63%
Gross Profit Growth %	-	-	-	-	106.57%	-21.62%	1.48%	0.53%	0.21%	0.47%
Operating Expenses+	16.35M	38.53M	51.39M	141.85M	212.43M	111.31M	792.14M	545.38M	537.48M	533.25M
OpEx % of Revenue	-	-	-	1095.8%	16.36%	2.27%	5.49%	2.54%	2.02%	1.34%
Selling, General & Admin	2.76M	6.38M	12.05M	21.58M	70.21M	111.31M	218.83M	258.97M	281.61M	298.74M
SG&A % of Revenue	-	-	-	166.67%	5.41%	2.27%	1.52%	1.2%	1.06%	0.75%
Research & Development	13.59M	32.15M	39.34M	120.28M	142.22M	222.71M	573.31M	286.41M	265.87M	234.5M
R&D % of Revenue	-	-	-	929.13%	10.95%	4.55%	3.97%	1.33%	1%	0.59%
Other Operating Expenses	0	0	0	58.78K	0	-222.71M	0	0	-10M	0
Operating Income+	-16.35M	-38.53M	-51.39M	-141.77M	-203.2M	-301.8M	-700.06M	-404.36M	-366.57M	-282.12M
Operating Margin %	-	-	-	-1095.14%	-15.65%	-6.16%	-4.85%	-1.88%	-1.37%	-0.71%
Operating Income Growth %	-	-1.36%	-0.33%	-1.76%	-0.43%	-0.49%	-1.32%	0.42%	0.09%	0.23%
EBITDA+	-16.22M	-38.33M	-50.84M	-140.12M	-199.43M	-297.16M	-693.58M	-396.13M	-357.54M	-261.84M
EBITDA Margin %	-	-	-	-1082.4%	-15.36%	-6.07%	-4.81%	-1.84%	-1.34%	-0.66%
EBITDA Growth %	-	-1.36%	-0.33%	-1.76%	-0.42%	-0.49%	-1.33%	0.43%	0.1%	0.27%
D&A (Non-Cash Add-back)	126.51K	199K	548K	1.65M	3.77M	4.64M	6.49M	8.23M	9.03M	20.27M
EBIT	-16.35M	-38.53M	-51.39M	-138.45M	-194.03M	-301.8M	-695.95M	-443.06M	-374.14M	-254.85M
Net Interest Income+	0	0	0	3.22M	7.94M	4.94M	2.19M	14.58M	39.8M	34.85M
Interest Income	5K	403.27K	527.35K	3.26M	8.23M	5.12M	2.19M	14.58M	39.8M	37.1M
Interest Expense	0	0	0	39.67K	293K	181K	0	0	0	2.25M
Other Income/Expense	-1.67M	1.02M	1.01M	3.28M	-2.83M	32.9M	-3.35M	-38.93M	31.95M	25.01M
Pretax Income+	-18.02M	-37.51M	-50.13M	-138.49M	-206.02M	-268.9M	-703.41M	-443.29M	-334.62M	-257.1M
Pretax Margin %	-	-	-	-1069.8%	-15.87%	-5.49%	-4.87%	-2.06%	-1.25%	-0.64%
Income Tax+	0	0	477.7K	3.32M	-10.95M	0	1.06M	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	0.95%	1%	1%	1%	1%	1%
Net Income+	-18.02M	-37.51M	-50.38M	-139.07M	-195.07M	-268.9M	-704.47M	-443.29M	-334.62M	-257.1M
Net Margin %	-	-	-	-1074.34%	-15.02%	-5.49%	-4.88%	-2.06%	-1.25%	-0.64%
Net Income Growth %	-	-1.08%	-0.34%	-1.76%	-0.4%	-0.38%	-1.62%	0.37%	0.25%	0.23%
Net Income (Continuing)	-18.02M	-37.51M	-50.38M	-139.07M	-195.07M	-268.9M	-704.47M	-443.29M	-334.62M	-257.1M
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)+	-20.70	-39.70	-23.20	-26.40	-30.30	-34.60	-75.80	-46.30	-34.60	-2.60
EPS Growth %	-	-0.92%	0.42%	-0.14%	-0.15%	-0.14%	-1.19%	0.39%	0.25%	0.92%
EPS (Basic)	-20.70	-39.70	-23.20	-26.40	-30.30	-34.60	-75.80	-46.30	-34.60	-2.60
Diluted Shares Outstanding	869.37K	943.9K	2.18M	5.26M	6.44M	7.77M	9.3M	9.58M	9.66M	98.95M
Basic Shares Outstanding	869.37K	943.9K	2.18M	5.26M	6.44M	7.77M	9.3M	9.58M	9.66M	98.95M
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+	13.23M	84.09M	230.61M	269.14M	292.46M	1.22B	1.5B	1.12B	939.61M	1.05B
Cash & Short-Term Investments	13.16M	83.95M	229.66M	263.3M	275.93M	1.19B	1.41B	1.01B	806.45M	779.67M
Cash Only	13.16M	83.95M	229.66M	62.95M	75.93M	442.12M	964.1M	1.01B	790.15M	449.67M
Short-Term Investments	0	0	0	200.35M	200M	744.68M	445M	0	16.3M	330M
Accounts Receivable	0	0	0	90K	3.79M	5.17M	54.81M	48.57M	65.33M	89.41M
Days Sales Outstanding	-	-	-	253.76	106.56	38.51	138.63	82.44	89.41	81.79
Inventory	0	0	0	3.82K	6M	13.14M	18.95M	31.62M	44.83M	39.88M
Days Inventory Outstanding	-	-	-	32	584.67	20.04	132.41	155.93	170.76	98.43
Other Current Assets	0	0	0	-603	0	0	0	35.67M	23M	141.53M
Total Non-Current Assets+	710.11K	4.81M	19.02M	32.84M	62.69M	81.6M	109.08M	95.8M	96.69M	135.27M
Property, Plant & Equipment	707.58K	2.66M	11.98M	20.77M	36.86M	47.14M	58.28M	78.77M	68.69M	69.47M
Fixed Asset Turnover	-	-	-	0.01x	0.35x	1.04x	2.48x	2.73x	3.88x	5.74x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	2.52K	7K	20.09K	321.57K	8.8M	9.44M	9.66M	8.4M	16.46M	58.93M
Long-Term Investments	0	500K	1.65M	3.15M	2.4M	1.28M	15.61M	6.43M	9.22M	3.12M
Other Non-Current Assets	0	3.06M	5.5M	8.88M	14.62M	23.75M	25.53M	2.2M	2.32M	3.75M
Total Assets+	13.94M	88.91M	249.63M	301.99M	355.15M	1.3B	1.61B	1.22B	1.04B	1.19B
Asset Turnover	-	-	-	0.00x	0.04x	0.04x	0.09x	0.18x	0.26x	0.34x
Asset Growth %	-	5.38%	1.81%	0.21%	0.18%	2.65%	0.24%	-0.24%	-0.15%	0.14%
Total Current Liabilities+	3.94M	5.17M	12.07M	48.84M	46.63M	98.04M	192.9M	139.84M	203.07M	299.38M
Accounts Payable	1.45M	523.34K	8.97M	37.43M	22.66M	62.64M	126.16M	65.97M	112.99M	100.91M
Days Payables Outstanding	-	-	-	313.44K	2.21K	95.49	881.52	325.33	430.43	249.09
Short-Term Debt	0	0	0	3.64M	6.45M	0	0	0	0	131.71M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	2.14M	4.05M	778.96K	2.5M	2.39M	4.57M	4.42M	4.05M	5.35M	6.35M
Current Ratio	3.36x	16.25x	19.11x	5.51x	6.27x	12.40x	7.78x	8.04x	4.63x	3.51x
Quick Ratio	3.36x	16.25x	19.11x	5.51x	6.14x	12.27x	7.68x	7.81x	4.41x	3.38x
Cash Conversion Cycle	-	-	-	-313.15K	-1.52K	-36.94	-610.48	-86.96	-170.26	-68.86
Total Non-Current Liabilities+	28.37M	135.29M	2.39M	2.06M	13.86M	30.25M	37.1M	34.7M	37.11M	45.47M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	10.98M	13.39M	9.61M	13.34M	8.05M	13.71M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	28.31M	134.51M	0	0	0	0	0	0	325K	325K
Total Liabilities	32.31M	140.46M	14.46M	50.91M	60.49M	128.29M	230M	174.54M	240.18M	344.86M
Total Debt+	0	0	0	3.64M	21.78M	18.6M	15.54M	20.39M	15.15M	153.47M
Net Debt	-13.16M	-83.95M	-229.66M	-59.31M	-54.15M	-423.52M	-948.56M	-988.08M	-775M	-296.2M
Debt / Equity	-	-	-	0.01x	0.07x	0.02x	0.01x	0.02x	0.02x	0.18x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-3573.50x	-693.50x	-1667.41x	-	-	-	-125.16x
Total Equity+	-18.37M	-51.55M	235.17M	251.08M	294.66M	1.17B	1.38B	1.05B	796.12M	840.9M
Equity Growth %	-	-1.81%	5.56%	0.07%	0.17%	2.97%	0.18%	-0.24%	-0.24%	0.06%
Book Value per Share	-21.13	-54.62	108.11	47.73	45.78	150.56	148.39	109.14	82.38	8.50
Total Shareholders' Equity	-18.37M	-51.55M	235.17M	251.08M	294.66M	1.17B	1.38B	1.05B	796.12M	840.9M
Common Stock	533	579	3K	3.48K	4K	5K	6K	6K	6K	7K
Retained Earnings	-22.66M	-60.17M	-110.55M	-249.63M	-444.7M	-713.6M	-1.42B	-1.86B	-2.2B	-2.45B
Treasury Stock	0	0	0	0	0	0	-4.28M	-11.86M	-20.84M	-20.84M
Accumulated OCI	-103.62K	-698.53K	449.91K	2.66M	4.62M	-14.52M	-23.64M	25.68M	37.63M	50.52M
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+	-11.46M	-32.16M	-32.37M	-97.54M	-191.01M	-216.06M	-549.23M	-367.64M	-198.18M	-214.87M
Operating CF Margin %	-	-	-	-753.47%	-14.71%	-4.41%	-3.81%	-1.71%	-0.74%	-0.54%
Operating CF Growth %	-	-1.8%	-0.01%	-2.01%	-0.96%	-0.13%	-1.54%	0.33%	0.46%	-0.08%
Net Income	-18.02M	-37.51M	-50.38M	-139.07M	-195.07M	-268.9M	-704.47M	-443.29M	-334.62M	-257.1M
Depreciation & Amortization	126.51K	199K	548.13K	1.65M	3.77M	4.64M	6.49M	8.23M	9.03M	11.86M
Stock-Based Compensation	2.7M	4.93M	9.93M	12.23M	20.29M	24.83M	40.71M	61.3M	79.63M	70.65M
Deferred Taxes	0	0	0	587.25K	767K	1.13M	17.08M	0	0	0
Other Non-Cash Items	2.02M	1.92M	62.61K	-312K	2.52M	4.01M	67.85M	72.36M	8.17M	28.12M
Working Capital Changes	1.71M	-1.69M	7.48M	27.38M	-23.28M	18.25M	23.11M	-66.25M	39.61M	-68.39M
Change in Receivables	0	0	0	-89.71K	-3.7M	-1.38M	-42.32M	25.14M	-17.69M	-26.58M
Change in Inventory	0	0	0	-3.82K	-6M	-7.17M	-7.17M	-15.38M	-14.91M	3.9M
Change in Payables	1.29M	-929.72K	8.44M	28.46M	-14.77M	39.98M	63.52M	-53.77M	36.8M	-2.21M
Cash from Investing+	-738.47K	-2.73M	-10.43M	-212.55M	-14.89M	-554.83M	249.96M	420.02M	-10.78M	-375.19M
Capital Expenditures	-738.47K	-2.23M	-9.12M	-10.12M	-15.24M	-10.67M	-18.95M	-24.59M	-7.21M	-5.66M
CapEx % of Revenue	-	-	-	78.16%	1.17%	0.22%	0.13%	0.11%	0.03%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-505.62K	68.1K	-102.83K	-9.21M	-539K	3K	-399K	12.74M	-55.86M
Cash from Financing+	18.28M	106.2M	187.86M	144.15M	219.3M	1.13B	820.2M	-1.73M	-6.43M	349.89M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	-1.67M	-496.2K	201K	1.28M	1.33M	-1.73M	-6.43M	1.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-12.2M	-34.39M	-41.48M	-107.66M	-206.25M	-226.72M	-568.18M	-392.63M	-206.67M	-276.39M
FCF Margin %	-	-	-	-831.63%	-15.88%	-4.63%	-3.94%	-1.83%	-0.77%	-0.69%
FCF Growth %	-	-1.82%	-0.21%	-1.6%	-0.92%	-0.1%	-1.51%	0.31%	0.47%	-0.34%
FCF per Share	-14.04	-36.43	-19.07	-20.46	-32.04	-29.19	-61.10	-40.98	-21.39	-2.79
FCF Conversion (FCF/Net Income)	0.64x	0.86x	0.64x	0.70x	0.98x	0.80x	0.78x	0.83x	0.59x	0.84x
Interest Paid	0	0	0	0	0	0	0	0	0	2.02M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-54.88%	-57.2%	-71.49%	-36.74%	-55.27%	-36.55%	-36.34%	-31.41%
Return on Invested Capital (ROIC)	-	-	-699.41%	-107.79%	-70.51%	-45.9%	-89.2%	-124.06%	-699.25%	-74.79%
Gross Margin	-	-	-	66.33%	71.13%	-389.09%	63.8%	65.58%	64.08%	62.94%
Net Margin	-	-	-	-107433.56%	-1502.31%	-549.26%	-488.16%	-206.14%	-125.46%	-64.44%
Debt / Equity	-	-	-	0.01x	0.07x	0.02x	0.01x	0.02x	0.02x	0.18x
Interest Coverage	-	-	-	-3573.50x	-693.50x	-1667.41x	-	-	-	-125.16x
FCF Conversion	0.64x	0.86x	0.64x	0.70x	0.98x	0.80x	0.78x	0.83x	0.59x	0.84x
Revenue Growth	-	-	-	-	9930.55%	277.04%	194.77%	49.01%	24.03%	49.59%

Revenue by Segment

	2020	2021	2022	2023	2024
Zejula	32.14M	93.58M	145.19M	168.84M	187.08M
Zejula Growth	-	191.18%	55.16%	16.29%	10.80%
Nuzyra	-	3K	5.2M	21.66M	43.2M
Nuzyra Growth	-	-	173233.33%	316.46%	99.48%
Optune	16.42M	38.9M	47.32M	46.97M	40.48M
Optune Growth	-	136.95%	21.64%	-0.74%	-13.83%
Qinlock	-	11.62M	14.96M	19.24M	28.83M
Qinlock Growth	-	-	28.72%	28.64%	49.82%
Other	402K	-	-	-	-
Other Growth	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Zai Lab Limited (ZLAB) reported $441.6M in revenue for fiscal year 2024.

Zai Lab Limited (ZLAB) grew revenue by 49.6% over the past year. This is strong growth.

Zai Lab Limited (ZLAB) reported a net loss of $206.8M for fiscal year 2024.

Dividend & Returns

Zai Lab Limited (ZLAB) has a return on equity (ROE) of -31.4%. Negative ROE indicates the company is unprofitable.

Zai Lab Limited (ZLAB) had negative free cash flow of $206.8M in fiscal year 2024, likely due to heavy capital investments.