| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net loss | -125,128 | -89,165 |
| Allowance for credit losses | 0 | 1 |
| Inventory write-down | 919 | 294 |
| Depreciation and amortization expenses | 11,094 | 7,193 |
| Amortization of deferred income | -3,991 | -2,661 |
| Share-based compensation | 49,696 | 32,773 |
| Loss from fair value changes of equity investment with readily determinable fair value | -1,912 | -1,912 |
| Losses on disposal of property and equipment | -235 | -211 |
| Noncash lease expenses | 7,249 | 5,377 |
| Debt issuance costs | 194 | 104 |
| Foreign currency remeasurement impact | 9,909 | 3,488 |
| Accounts receivable | -726 | 2,945 |
| Notes receivable | 15,223 | 6,611 |
| Inventories | 28,112 | 22,096 |
| Prepayments and other current assets | 1,789 | -854 |
| Other non-current assets | -599 | -51 |
| Accounts payable | -426 | 6,474 |
| Other current liabilities | -6,769 | -15,948 |
| Operating lease liabilities | -6,405 | -5,418 |
| Deferred income | 361 | 365 |
| Net cash used in operating activities | -124,767 | -92,723 |
| Proceeds from maturity of short-term investment | 330,000 | 330,000 |
| Proceeds from the sale of equity investment | 1,203 | 1,203 |
| Purchases of property and equipment | 7,424 | 4,419 |
| Proceeds from the sale of property and equipment | 85 | 48 |
| Acquisition of intangible assets | 4,702 | 3,621 |
| Net cash provided by (used in) investing activities | 319,162 | 323,211 |
| Proceeds from short-term debt | 185,564 | 124,349 |
| Repayment of short-term bank borrowings | 116,941 | 82,818 |
| Payments of debt issuance costs | 194 | 104 |
| Proceeds from exercises of stock options | 13,426 | 11,444 |
| Payments of public offering costs | 854 | 854 |
| Employee taxes paid related to net share settlement of equity awards | 8,218 | 27 |
| Net cash provided by financing activities | 72,783 | 51,990 |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 311 | 125 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 267,489 | 282,603 |
| Cash and cash equivalents at beginning of period | 550,781 | - |
| Cash and cash equivalents at end of period | 818,270 | - |
Zai Lab Ltd (ZLAB)
Zai Lab Ltd (ZLAB)