Revenue growth remains non-existent with a -100% contraction in recent periods, while quarterly R&D expenditures consistently exceed $25 million without a sustainable commercial foundation.
| Sales/Revenue | 0 | 0 | 67.42M | 0 | 0 | 0 | 0 | 0 | 14K |
| Revenue Growth % | -100% | -100% | - | - | - | - | - | -100% | - |
| Cost of Goods Sold | 151K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -151K | 0 | 67.42M | 0 | 0 | 0 | 0 | 0 | 14K |
| Gross Margin % | - | - | 100% | - | - | - | - | - | 100% |
| Gross Profit Growth % | - | -100% | - | - | - | - | - | -100% | - |
| Operating Expenses | 144.89M | 152.81M | 258.62M | 299.51M | 227.29M | 216.54M | 118.79M | 46.84M | 23.8M |
| OpEx % of Revenue | - | - | 383.57% | - | - | - | - | - | 169978.57% |
| Selling, General & Admin | 34.97M | 37.72M | 87.11M | 59.4M | 54.55M | 40.94M | 33.89M | 8.46M | 4.88M |
| SG&A % of Revenue | - | - | 129.2% | - | - | - | - | - | 34828.57% |
| Research & Development | 108.76M | 107.3M | 167.77M | 235.16M | 172.73M | 175.6M | 84.9M | 38.39M | 18.92M |
| R&D % of Revenue | - | - | 248.82% | - | - | - | - | - | 135150% |
| Other Operating Expenses | 1000K | 7.8M | 3.74M | 4.95M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -145.04M | -152.81M | -191.19M | -299.51M | -227.29M | -216.54M | -118.79M | -46.84M | -23.78M |
| Operating Margin % | - | - | -283.57% | - | - | - | - | - | -169878.57% |
| Operating Income Growth % | - | 20.08% | 36.16% | -31.78% | -4.96% | -82.29% | -153.57% | -96.97% | - |
| EBITDA | -144.41M | -152.07M | -189.91M | -298.12M | -225.86M | -216M | -118.63M | -46.73M | -23.73M |
| EBITDA Margin % | - | - | -281.65% | - | - | - | - | - | -169510.78% |
| EBITDA Growth % | 31.5% | 19.92% | 36.3% | -31.99% | -4.57% | -82.08% | -153.83% | -96.93% | - |
| D&A (Non-Cash Add-back) | 628K | 739K | 1.29M | 1.39M | 1.43M | 544K | 160K | 111K | 51.49K |
| EBIT | -136.84M | -145.01M | -187.46M | -248.99M | -227.29M | -207.74M | -118.79M | -46.84M | -23.78M |
| Net Interest Income | 0 | 0 | 0 | 0 | -2.57M | 0 | 0 | 498K | 355K |
| Interest Income | 0 | 0 | 0 | 0 | 2.26K | 0 | 0 | 498K | 355K |
| Interest Expense | 0 | 0 | 0 | 0 | 2.58M | 0 | 0 | 0 | 0 |
| Other Income/Expense | 21.47M | 16.19M | 25.5M | 6.6M | -10.29M | 50.15M | 683K | 482K | 355K |
| Pretax Income | -123.57M | -136.62M | -165.69M | -292.91M | -237.58M | -166.39M | -118.1M | -46.36M | -23.43M |
| Pretax Margin % | - | - | -245.74% | - | - | - | - | - | -167342.86% |
| Income Tax | 562K | 442K | 177K | -601K | -469K | -297K | 444K | 15K | 4K |
| Effective Tax Rate % | -0.45% | -0.32% | -0.11% | 0.21% | 0.2% | 0.18% | -0.38% | -0.03% | -0.02% |
| Net Income | -124.13M | -137.06M | -165.84M | -292.19M | -236.81M | -158.72M | -117.84M | -45.66M | -21.07M |
| Net Margin % | - | - | -245.96% | - | - | - | - | - | -150478.57% |
| Net Income Growth % | 44.63% | 17.35% | 43.24% | -23.39% | -49.19% | -34.69% | -158.07% | -116.75% | - |
| Net Income (Continuing) | -124.13M | -137.06M | -165.87M | -292.31M | -237.11M | -166.09M | -118.55M | -46.38M | -23.43M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 107K | 221K | 528K | 24.8M | 6.82M | 7.54M |
| EPS (Diluted) | -1.77 | -1.91 | -2.33 | -4.47 | -4.48 | -3.72 | -2.87 | -1.29 | -1.17 |
| EPS Growth % | 44.9% | 18.03% | 47.87% | 0.22% | -20.43% | -29.62% | -122.48% | -10.26% | - |
| EPS (Basic) | - | -1.91 | -2.33 | -4.47 | -4.48 | -3.72 | -2.87 | -1.29 | -1.17 |
| Diluted Shares Outstanding | 70.26M | 71.87M | 71.08M | 65.41M | 52.86M | 42.69M | 41.04M | 35.88M | 18.06M |
| Basic Shares Outstanding | 70.26M | 71.87M | 71.08M | 65.41M | 52.86M | 42.69M | 41.04M | 35.88M | 18.06M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Clinical hold and liquidity
As reported in financial statements, ZNTL's revenue trajectory remains characterized by extreme volatility, with a -100% growth rate in recent periods reflecting the absence of recurring product sales and a reliance on sporadic, non-recurring milestone payments that fail to provide a predictable or durable top-line foundation.
The company's revenue profile is entirely dependent on business development activities rather than commercial product adoption. Investors should interpret the lack of consistent revenue as a signal that the firm remains in a high-risk, pre-commercial phase where top-line growth is not a reliable indicator of operational health.
Based on ZNTL's reported figures, the company maintains a heavy R&D-centric cost structure, with quarterly expenditures frequently exceeding $25 million, which suggests that management is prioritizing pipeline advancement over near-term expense discipline despite the absence of any meaningful offsetting commercial revenue streams or product margins.
The high concentration of costs in R&D indicates a broad clinical strategy that may be straining the company's limited financial resources. This cost structure warrants further investigation into whether the current level of spending is sustainable given the recent clinical setbacks and the resulting pressure on the firm's liquidity.
According to recent SEC filings, ZNTL's net income is heavily distorted by non-operating items and lumpy milestone recognition, as evidenced by the sharp swing from a $10.1 million profit in 2024Q1 to significant recurring losses, which complicates any assessment of the company's underlying operational profitability or true earnings power.
The presence of significant stock-based compensation and irregular revenue recognition suggests that reported net income is not a reliable proxy for operational performance. Analysts should focus on cash burn rates rather than bottom-line earnings, as the latter appears to be a byproduct of accounting timing rather than business success.
Based on the provided financial data, the company's cash position appears increasingly precarious, as the persistent quarterly operating losses suggest a rapid depletion of capital that may force dilutive financing or a strategic pivot, potentially undermining the long-term value proposition for existing shareholders in the near term.
The combination of a partial clinical hold and a shrinking cash runway creates a high-risk environment where the company's ability to fund its pipeline is in question. Investors should monitor the firm's capital allocation closely, as the current burn rate may necessitate an urgent and potentially value-destructive capital raise.
Quick answers to the most common questions about buying ZNTL stock.
For fiscal year 2025, Zentalis Pharmaceuticals, Inc. (ZNTL) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.0M in 2018.
Zentalis Pharmaceuticals, Inc. (ZNTL) reported a net loss of $137.1M for the fiscal year ending 2025.