For the quarter ending 2026-03-31, ZLAB had -$28,256K decrease in cash & cash equivalents over the period. -$13,107K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -51,016 | -50,409 | -35,963 | -89,165 |
| Allowance for credit losses | -15 | 6 | -1 | 1 |
| Inventory write-down | 188 | 11,369 | 625 | 294 |
| Depreciation and amortization expenses | 3,944 | 3,916 | 3,901 | 7,193 |
| Impairment of property and equipment | - | 0 | - | - |
| Amortization of deferred income | -1,393 | -1,349 | -1,330 | -2,661 |
| Share-based compensation | 13,524 | 15,902 | 16,923 | 32,773 |
| Loss from fair value changes of equity investment with readily determinable fair value | 0 | 0 | 0 | -1,912 |
| Loss on disposal of property and equipment | -18 | -307 | -24 | -211 |
| Gain on disposal of land use right | - | 0 | - | - |
| Noncash lease expenses | 1,810 | 1,587 | 1,872 | 5,377 |
| Amortization of debt issuance cost | - | 0 | 90 | 104 |
| Gain from sale of intellectual property | - | 0 | - | - |
| Foreign currency remeasurement impact | 14,837 | 9,682 | 6,421 | 3,488 |
| Accounts receivable | -53,268 | 19,658 | -3,671 | 2,945 |
| Notes receivable | -4,410 | -7,507 | 8,612 | 6,611 |
| Inventories | 11,208 | 18,916 | 6,016 | 22,096 |
| Prepayments and other current assets | -1,518 | -6,848 | 2,643 | -854 |
| Deferred tax assets | - | 3,336 | - | - |
| Other non-current assets | 78 | 973 | -548 | -51 |
| Accounts payable | 4,261 | 20,352 | -6,900 | 6,474 |
| Other current liabilities | -17,638 | 11,519 | 9,179 | -15,948 |
| Operating lease liabilities | -1,061 | -1,071 | -987 | -5,418 |
| Deferred income | 2,353 | 384 | -4 | 365 |
| Other non-current liabilities | 40 | -325 | - | - |
| Net cash used in operating activities | -11,912 | -26,022 | -32,044 | -92,723 |
| Proceeds from the sale of equity investment | - | 0 | 0 | 1,203 |
| Purchases of short-term investments | - | 10,000 | - | - |
| Proceeds from maturity of short-term investment | 0 | 0 | 0 | 330,000 |
| Purchases of property and equipment | 1,195 | 677 | 3,005 | 4,419 |
| Proceeds from the sale of property and equipment | 2 | 2 | 37 | 48 |
| Acquisition of intangible assets | 21,095 | 621 | 1,081 | 3,621 |
| Proceeds from sale of intellectual property | - | 0 | - | - |
| Proceeds from disposal of land use right | - | 0 | - | - |
| Net cash (used in) provided by investing activities | -22,288 | -11,296 | -4,049 | 323,211 |
| Proceeds from short-term debt | 112,510 | 21,273 | 61,215 | 124,349 |
| Repayment of short-term bank borrowings | 105,500 | 21,952 | 34,123 | 82,818 |
| Payments of debt issuance costs | - | 0 | 90 | 104 |
| Proceeds from exercises of stock options | 833 | 249 | 1,982 | 11,444 |
| Proceeds from issuance of ordinary shares upon public offerings | - | 0 | - | - |
| Payments of public offering costs | 0 | 0 | 0 | 854 |
| Employee taxes paid related to net share settlement of equity awards | 2,270 | 0 | 8,191 | 27 |
| Net cash provided by financing activities | 5,573 | -430 | 20,793 | 51,990 |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 371 | 167 | 186 | 125 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -28,256 | -37,581 | -15,114 | 282,603 |
| Cash, cash equivalents and restricted cash - beginning of period | 780,689 | 818,270 | 550,781 | - |
| Cash, cash equivalents and restricted cash - end of period | 752,433 | 780,689 | 818,270 | - |
Zai Lab Ltd (ZLAB)
Zai Lab Ltd (ZLAB)