| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 651,316 | 679,573 | 717,155 | 732,159 |
| Restricted cash, current | 100,000 | 100,000 | 100,000 | 100,111 |
| Short-term investments | 10,000 | 10,000 | 0 | 0 |
| Accounts receivable (net of allowance for credit losses of 16 and 31 as of march31, 2026 and december31, 2025, respectively) | 54,069 | 106,116 | 85,377 | 88,499 |
| Notes receivable | 7,929 | 12,169 | 19,628 | 10,843 |
| Inventories, net | 85,961 | 74,745 | 67,135 | 61,700 |
| Prepayments and other current assets | 35,454 | 36,683 | 43,653 | 40,750 |
| Total current assets | 944,729 | 1,019,286 | 1,032,948 | 1,034,062 |
| Restricted cash, non-current | 1,117 | 1,116 | 1,115 | 1,114 |
| Property and equipment, net | 47,067 | 47,389 | 48,868 | 50,160 |
| Operating lease right-of-use assets | 17,585 | 19,152 | 15,751 | 16,787 |
| Land use rights, net | 2,868 | 2,853 | 2,852 | 2,860 |
| Intangible assets, net | 75,759 | 76,144 | 55,278 | 56,519 |
| Deferred tax assets | 3,444 | 3,390 | - | - |
| Other non-current assets | 3,168 | 3,054 | 2,128 | 2,599 |
| Total assets | 1,095,737 | 1,172,384 | 1,158,940 | 1,164,101 |
| Accounts payable | 126,169 | 141,608 | 99,706 | 107,357 |
| Current operating lease liabilities | 5,983 | 6,344 | 5,496 | 5,584 |
| Short-term debt | 213,819 | 204,530 | 203,026 | 174,509 |
| Other current liabilities | 47,011 | 63,684 | 51,541 | 44,051 |
| Total current liabilities | 392,982 | 416,166 | 359,769 | 331,501 |
| Deferred income | 28,627 | 27,333 | 28,061 | 29,233 |
| Non-current operating lease liabilities | 12,107 | 13,385 | 10,840 | 11,307 |
| Other non-current liabilities | 40 | 0 | 325 | 325 |
| Total liabilities | 433,756 | 456,884 | 398,995 | 372,366 |
| Ordinary shares (par value of 0.000006 per share 5,000,000,000 shares authorized 1,118,835,190 and 1,113,822,550 shares issued as of march31, 2026 and december31, 2025, respectively 1,110,232,620 and 1,106,389,340 shares outstanding as of march31, 2026 and december31, 2025, respectively) | 7 | 7 | 7 | 7 |
| Additional paid-in capital | 3,357,826 | 3,343,469 | 3,327,557 | 3,308,491 |
| Accumulated deficit | -2,679,636 | -2,628,620 | -2,578,211 | -2,542,248 |
| Accumulated other comprehensive income | 15,105 | 29,697 | 39,645 | 46,348 |
| Treasury stock (at cost, 8,602,570 and 7,433,210 shares as of march31, 2026 and december31, 2025, respectively) | 31,321 | 29,053 | 29,053 | 20,863 |
| Total shareholders equity | 661,981 | 715,500 | 759,945 | 791,735 |
| Total liabilities and shareholders equity | 1,095,737 | 1,172,384 | 1,158,940 | 1,164,101 |
Zai Lab Ltd (ZLAB)
Zai Lab Ltd (ZLAB)