For the year ending 2025-12-31, ZLAB had $229,908K increase in cash & cash equivalents over the period. -$158,890K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net loss | -175,537 |
| Allowance for credit losses | 6 |
| Inventory write-down | 12,288 |
| Depreciation and amortization expenses | 15,010 |
| Impairment of property and equipment | 0 |
| Amortization of deferred income | -5,340 |
| Share-based compensation | 65,598 |
| Loss (gain) from fair value changes of equity investment with readily determinable fair value | -1,912 |
| Losses on disposal of property and equipment | -542 |
| Gain on disposal of land use right | 0 |
| Noncash lease expenses | 8,836 |
| Gain from sale of intellectual property | 0 |
| Foreign currency remeasurement impact | 19,591 |
| Amortization of debt issuance cost | 194 |
| Accounts receivable | 18,932 |
| Notes receivable | 7,716 |
| Inventories | 47,028 |
| Prepayments and other current assets | -5,059 |
| Deferred tax assets | 3,336 |
| Other non-current assets | 374 |
| Accounts payable | 19,926 |
| Other current liabilities | 4,750 |
| Operating lease liabilities | -7,476 |
| Deferred income | 745 |
| Other non-current liabilities | -325 |
| Net cash used in operating activities | -150,789 |
| Purchases of short-term investments | 10,000 |
| Proceeds from maturity of short-term investment | 330,000 |
| Proceeds from the sale of equity investment | 1,203 |
| Purchases of property and equipment | 8,101 |
| Proceeds from the sale of property and equipment | 87 |
| Acquisition of intangible assets | 5,323 |
| Proceeds from sale of intellectual property | 0 |
| Proceeds from disposal of land use right | 0 |
| Net cash provided by (used in) investing activities | 307,866 |
| Proceeds from short-term debt | 206,837 |
| Repayment of short-term bank borrowings | 138,893 |
| Payments of debt issuance costs | 194 |
| Proceeds from exercises of stock options | 13,675 |
| Proceeds from issuance of ordinary shares upon public offerings | 0 |
| Payments of public offering costs | 854 |
| Taxes paid related to settlement of equity awards | 8,218 |
| Net cash provided by (used in) financing activities | 72,353 |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 478 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 229,908 |
| Cash, cash equivalents and restricted cash beginning of the year | 550,781 |
| Cash, cash equivalents and restricted cash end of the year | 780,689 |
Zai Lab Ltd (ZLAB)
Zai Lab Ltd (ZLAB)