Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Zai Lab.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $398.99M | $266.72M | $215.04M | $144.31M | $48.96M | $12.98M | $129.45K | $- | $- | $- |
| Cost of Revenue | $147.86M | $95.82M | $74.02M | $52.24M | $16.74M | $3.75M | $43.59K | $- | $- | $- |
| Gross Profit | $251.13M | $170.90M | $141.02M | $92.07M | $32.22M | $9.24M | $85.86K | $- | $- | $- |
| Gross Profit Ratio | 62.94% | 64.08% | 65.58% | 63.80% | 65.82% | 71.13% | 66.33% | 0.00% | 0.00% | 0.00% |
| Research and Development Expenses | $234.50M | $265.87M | $286.41M | $573.31M | $222.71M | $142.22M | $120.28M | $39.34M | $32.15M | $13.59M |
| General and Administrative Expenses | $298.74M | $281.61M | $258.97M | $218.83M | $111.31M | $70.21M | $- | $12.05M | $6.38M | $2.76M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $-172 | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $298.74M | $281.61M | $258.97M | $218.83M | $111.31M | $70.21M | $21.58M | $12.05M | $6.38M | $2.76M |
| Other Expenses | $- | $-10.00M | $3.11M | $-5.54M | $29.08M | $937.78K | $58.78K | $529.16K | $2.53M | $302.69K |
| Operating Expenses | $533.25M | $537.48M | $545.38M | $792.14M | $334.02M | $212.43M | $141.85M | $51.39M | $38.53M | $16.35M |
| Cost and Expenses | $681.11M | $633.29M | $619.40M | $844.38M | $350.76M | $216.18M | $141.90M | $51.39M | $38.53M | $16.35M |
| Interest Income | $37.10M | $39.80M | $14.58M | $2.19M | $5.12M | $8.23M | $3.26M | $527.35K | $403.27K | $5.00K |
| Interest Expense | $2.25M | $- | $14.58M | $- | $181.00K | $293.00K | $39.67K | $- | $- | $- |
| Depreciation and Amortization | $11.86M | $9.03M | $8.23M | $6.49M | $4.64M | $3.77M | $1.65M | $548.00K | $199.00K | $126.51K |
| EBITDA | $-242.99M | $-365.11M | $-384.66M | $-689.46M | $-262.96M | $-199.43M | $-138.45M | $-50.84M | $-38.33M | $-16.22M |
| EBITDA Ratio | -60.90% | -136.89% | -178.88% | -477.76% | -537.12% | -1535.88% | -106949.81% | - | - | - |
| Operating Income | $-282.12M | $-366.57M | $-404.36M | $-700.06M | $-301.80M | $-203.20M | $-141.77M | $-51.39M | $-38.53M | $-16.35M |
| Operating Income Ratio | -70.71% | -137.44% | -188.04% | -485.10% | -616.45% | -1564.88% | -109514.01% | - | - | - |
| Total Other Income Expenses Net | $25.01M | $31.95M | $-38.71M | $-3.35M | $34.02M | $8.88M | $3.28M | $1.01M | $1.02M | $-1.67M |
| Income Before Tax | $-257.10M | $-334.62M | $-443.06M | $-703.41M | $-267.79M | $-194.32M | $-138.49M | $-50.13M | $-37.51M | $-18.02M |
| Income Before Tax Ratio | -64.44% | -125.46% | -206.04% | -487.43% | -546.97% | -1496.52% | -106980.46% | - | - | - |
| Income Tax Expense | $- | $- | $38.93M | $-10.97M | $30.38M | $-10.95M | $3.32M | $-477.70K | $1.52M | $1.97M |
| Net Income | $-257.10M | $-334.62M | $-481.99M | $-692.44M | $-298.16M | $-183.37M | $-139.07M | $-50.38M | $-37.51M | $-18.02M |
| Net Income Ratio | -64.44% | -125.46% | -224.14% | -479.82% | -609.02% | -1412.16% | -107433.56% | - | - | - |
| EPS | $-2.60 | $-3.46 | $-4.63 | $-7.58 | $-3.46 | $-3.03 | $-2.64 | $-2.32 | $-3.97 | $-2.07 |
| EPS Diluted | $-2.60 | $-3.46 | $-4.63 | $-7.58 | $-3.46 | $-3.03 | $-2.64 | $-2.32 | $-3.97 | $-2.07 |
| Weighted Average Shares Outstanding | 98.95M | 96.64M | 95.81M | 92.99M | 77.67M | 64.37M | 52.61M | 21.75M | 9.44M | 8.69M |
| Weighted Average Shares Outstanding Diluted | 98.95M | 96.64M | 95.81M | 92.99M | 77.67M | 64.37M | 52.61M | 21.75M | 9.44M | 8.69M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $449.67M | $790.15M | $1.01B | $964.10M | $442.12M | $75.93M | $62.95M | $229.66M | $83.95M | $13.16M |
| Short Term Investments | $330.00M | $16.30M | $- | $445.00M | $744.68M | $200.00M | $200.35M | $- | $- | $- |
| Cash and Short Term Investments | $779.67M | $806.45M | $1.01B | $1.41B | $1.19B | $275.93M | $263.30M | $229.66M | $83.95M | $13.16M |
| Net Receivables | $89.41M | $65.33M | $48.57M | $54.81M | $5.17M | $3.79M | $90.00K | $- | $- | $- |
| Inventory | $39.88M | $44.83M | $31.62M | $18.95M | $13.14M | $6.00M | $3.82K | $- | $- | $- |
| Other Current Assets | $141.53M | $23.00M | $35.67M | $18.02M | $10.94M | $6.74M | $5.75M | $954.51K | $143.53K | $69.02K |
| Total Current Assets | $1.05B | $939.61M | $1.12B | $1.50B | $1.22B | $292.46M | $269.14M | $230.61M | $84.09M | $13.23M |
| Property Plant Equipment Net | $69.47M | $68.69M | $78.77M | $58.28M | $47.14M | $36.86M | $20.77M | $11.98M | $2.66M | $707.58K |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $58.93M | $16.46M | $8.40M | $9.66M | $9.44M | $8.80M | $321.57K | $20.09K | $7.00K | $2.52K |
| Goodwill and Intangible Assets | $58.93M | $16.46M | $8.40M | $9.66M | $9.44M | $8.80M | $321.57K | $20.09K | $7.00K | $2.52K |
| Long Term Investments | $3.12M | $9.22M | $6.43M | $15.61M | $1.28M | $2.40M | $3.15M | $1.65M | $500.00K | $- |
| Tax Assets | $- | $1 | $- | $24.73M | $23.00M | $14.11M | $-275.85K | $-126.41K | $-1.42M | $- |
| Other Non-Current Assets | $3.75M | $2.32M | $2.20M | $803.00K | $743.00K | $510.22K | $8.88M | $5.50M | $3.06M | $- |
| Total Non-Current Assets | $135.27M | $96.69M | $95.80M | $109.08M | $81.60M | $62.69M | $32.84M | $19.02M | $4.81M | $710.11K |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $1.19B | $1.04B | $1.22B | $1.61B | $1.30B | $355.15M | $301.99M | $249.63M | $88.91M | $13.94M |
| Account Payables | $100.91M | $112.99M | $65.97M | $126.16M | $62.64M | $22.66M | $37.43M | $8.97M | $523.34K | $1.45M |
| Short Term Debt | $139.76M | $7.10M | $7.05M | $5.93M | $5.21M | $10.80M | $3.64M | $- | $- | $- |
| Tax Payables | $5.15M | $16.99M | $13.28M | $8.82M | $952.00K | $- | $- | $17.79K | $23.72K | $- |
| Deferred Revenue | $- | $- | $- | $- | $24.75M | $- | $- | $- | $- | $- |
| Other Current Liabilities | $53.57M | $65.98M | $53.53M | $51.99M | $29.24M | $13.17M | $7.77M | $3.08M | $4.63M | $2.49M |
| Total Current Liabilities | $299.38M | $203.07M | $139.84M | $192.90M | $98.04M | $46.64M | $48.84M | $12.07M | $5.17M | $3.94M |
| Long Term Debt | $13.71M | $8.05M | $13.34M | $9.61M | $13.39M | $10.98M | $- | $- | $- | $- |
| Deferred Revenue Non-Current | $31.43M | $- | $21.36M | $27.49M | $16.86M | $2.88M | $2.06M | $2.39M | $778.43K | $61.60K |
| Deferred Tax Liabilities Non-Current | $- | $- | $-21.36M | $-27.49M | $-16.86M | $-2.88M | $- | $- | $- | $- |
| Other Non-Current Liabilities | $325.00K | $29.06M | $- | $- | $- | $2.88M | $-58 | $- | $134.51M | $28.31M |
| Total Non-Current Liabilities | $45.47M | $37.11M | $34.70M | $37.10M | $30.25M | $13.86M | $2.06M | $2.39M | $135.29M | $28.37M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $344.86M | $240.18M | $174.54M | $230.00M | $128.29M | $60.49M | $50.91M | $14.46M | $140.46M | $32.31M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $134.51M | $28.31M |
| Common Stock | $7.00K | $6.00K | $6.00K | $6.00K | $5.00K | $4.09K | $3.48K | $3.00K | $579 | $533 |
| Retained Earnings | $-2.45B | $-2.20B | $-1.86B | $-1.42B | $-713.60M | $-444.70M | $-249.63M | $-110.55M | $-60.17M | $-22.66M |
| Accumulated Other Comprehensive Income Loss | $50.52M | $37.63M | $25.68M | $-23.64M | $-14.52M | $4.62M | $2.66M | $449.91K | $-698.53K | $-103.62K |
| Other Total Stockholders Equity | $3.24B | $2.95B | $2.88B | $2.82B | $1.90B | $734.73M | $498.04M | $345.27M | $143.82M | $32.70M |
| Total Stockholders Equity | $840.90M | $796.12M | $1.05B | $1.38B | $1.17B | $294.66M | $251.08M | $235.17M | $-51.55M | $-18.37M |
| Total Equity | $840.90M | $796.12M | $1.05B | $1.38B | $1.17B | $294.66M | $251.08M | $235.17M | $-51.55M | $-18.37M |
| Total Liabilities and Stockholders Equity | $1.19B | $1.04B | $1.22B | $1.61B | $1.30B | $355.15M | $301.99M | $249.63M | $88.91M | $13.94M |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $1.19B | $1.04B | $1.22B | $1.61B | $1.30B | $355.15M | $301.99M | $249.63M | $88.91M | $13.94M |
| Total Investments | $333.12M | $25.52M | $6.43M | $460.61M | $745.96M | $202.40M | $203.50M | $1.65M | $500.00K | $- |
| Total Debt | $153.47M | $15.15M | $20.39M | $15.54M | $18.60M | $21.78M | $3.64M | $- | $- | $- |
| Net Debt | $-296.20M | $-775.00M | $-988.08M | $-948.56M | $-423.52M | $-54.15M | $-59.31M | $-229.66M | $-83.95M | $-13.16M |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-257.10M | $-334.62M | $-443.29M | $-704.47M | $-268.90M | $-195.07M | $-139.07M | $-50.38M | $-37.51M | $-18.02M |
| Depreciation and Amortization | $11.86M | $9.03M | $8.23M | $6.49M | $4.64M | $3.77M | $1.65M | $548.13K | $199.00K | $126.51K |
| Deferred Income Tax | $- | $- | $- | $17.08M | $1.13M | $767.00K | $587.25K | $- | $- | $- |
| Stock Based Compensation | $70.65M | $79.63M | $61.30M | $40.71M | $24.83M | $20.29M | $12.23M | $9.93M | $4.93M | $2.70M |
| Change in Working Capital | $-68.39M | $39.61M | $-66.25M | $23.11M | $18.25M | $-23.28M | $27.38M | $7.48M | $-1.69M | $1.71M |
| Accounts Receivables | $-26.58M | $-20.04M | $4.33M | $-42.32M | $-1.38M | $-3.70M | $-89.71K | $- | $- | $- |
| Inventory | $3.90M | $-14.91M | $-15.38M | $-7.17M | $-7.17M | $-6.00M | $-3.82K | $- | $- | $- |
| Accounts Payables | $-2.21M | $36.80M | $-53.77M | $63.52M | $39.98M | $-14.77M | $28.46M | $8.44M | $-929.72K | $1.29M |
| Other Working Capital | $-43.50M | $37.75M | $-1.42M | $9.08M | $-13.19M | $1.19M | $-988.62K | $-969.20K | $-760.39K | $422.81K |
| Other Non Cash Items | $28.12M | $8.17M | $72.36M | $67.85M | $4.01M | $2.52M | $-312.00K | $62.61K | $1.92M | $2.02M |
| Net Cash Provided by Operating Activities | $-214.87M | $-198.18M | $-367.64M | $-549.23M | $-216.06M | $-191.01M | $-97.54M | $-32.37M | $-32.16M | $-11.46M |
| Investments in Property Plant and Equipment | $-5.66M | $-7.21M | $-24.98M | $-18.95M | $-10.67M | $-15.24M | $-10.12M | $-9.12M | $-2.23M | $-738.47K |
| Acquisitions Net | $- | $- | $-444.60M | $-30.00M | $539.00K | $9.21M | $-2.09M | $-1.90M | $- | $- |
| Purchases of Investments | $-330.00M | $-134.00M | $-260.27M | $-445.00M | $-949.16M | $-277.64M | $-200.35M | $14.69K | $-500.00K | $- |
| Sales Maturities of Investments | $16.30M | $117.70M | $705.27M | $743.90M | $405.00M | $277.99M | $102.83K | $500.00K | $- | $- |
| Other Investing Activities | $-55.84M | $12.74M | $444.60M | $3.00K | $-539.00K | $-9.21M | $-102.83K | $68.10K | $-505.62K | $- |
| Net Cash Used for Investing Activities | $-375.19M | $-10.78M | $420.02M | $249.96M | $-554.83M | $-14.89M | $-212.55M | $-10.43M | $-2.73M | $-738.47K |
| Debt Repayment | $131.32M | $- | $- | $- | $- | $2.90M | $3.64M | $- | $- | $- |
| Common Stock Issued | $217.35M | $- | $- | $818.88M | $1.14B | $216.20M | $141.00M | $160.43M | $- | $- |
| Common Stock Repurchased | $- | $-8.80M | $-7.60M | $- | $- | $- | $- | $- | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $1.22M | $-6.43M | $5.87M | $1.33M | $-5.24M | $201.00K | $-496.20K | $27.43M | $106.20M | $18.28M |
| Net Cash Used Provided by Financing Activities | $349.89M | $-6.43M | $-1.73M | $820.20M | $1.13B | $219.30M | $144.15M | $187.86M | $106.20M | $18.28M |
| Effect of Forex Changes on Cash | $-310.00K | $-2.62M | $-6.27M | $1.12M | $4.86M | $91.00K | $-763.42K | $652.60K | $-524.40K | $-66.77K |
| Net Change in Cash | $-240.48M | $-218.01M | $44.37M | $522.04M | $366.42M | $13.49M | $-166.71M | $145.71M | $70.79M | $6.01M |
| Cash at End of Period | $550.78M | $791.26M | $1.01B | $964.90M | $442.86M | $76.44M | $62.95M | $229.66M | $83.95M | $13.16M |
| Cash at Beginning of Period | $791.26M | $1.01B | $964.90M | $442.86M | $76.44M | $62.95M | $229.66M | $83.95M | $13.16M | $7.15M |
| Operating Cash Flow | $-214.87M | $-198.18M | $-367.64M | $-549.23M | $-216.06M | $-191.01M | $-97.54M | $-32.37M | $-32.16M | $-11.46M |
| Capital Expenditure | $-61.52M | $-8.49M | $-24.98M | $-18.95M | $-10.67M | $-15.24M | $-10.12M | $-9.12M | $-2.23M | $-738.47K |
| Free Cash Flow | $-276.39M | $-206.67M | $-392.63M | $-568.18M | $-226.72M | $-206.25M | $-107.66M | $-41.48M | $-34.39M | $-12.20M |