Filing Flows › Wave Life Sciences (WVE) › Q1 2025
Wave Life Sciences (WVE) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Wave Life Sciences (WVE) reported revenue of $9.2M for the first quarter 2025 (Q1 2025), -27% from a year earlier. Operating margin was -542.8%, net loss $46.9M (510.9% of revenue).
Wave Life Sciences, Q1 2025: revenue $9.2M (-27% year over year), operating margin -542.8%, net loss $46.9M, operating cash flow −$63.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.2M | — | -27% |
| Operating profit | −$49.8M | — | — |
| Net earnings | −$46.9M | — | — |
| Operating cash flow | −$63.0M | — | — |
What changed
Revenue was $9.2M in Q1 2025, down 27% year over year.
Operating costs exceeded revenue by $49.8M, an operating margin of -542.8%. Total costs grew 25% against a revenue fall of 27%. The fastest-growing cost line was General & admin (+35%). The quarter ended with a net loss of $46.9M.
Operating cash flow was −$63.0M. Non-cash charges added back $875K of depreciation and $5.0M of share-based compensation. Working capital and other items used $22.0M. Capital expenditures of $165K exceeded it, leaving free cash flow of −$63.2M.
Questions
What was Wave Life Sciences' revenue in the first quarter 2025?
Wave Life Sciences (WVE) reported revenue of $9.2M for the first quarter 2025 (Q1 2025), -27% from a year earlier.
Was Wave Life Sciences profitable in the first quarter 2025?
Operating loss was $49.8M (-542.8% of revenue) and net loss $46.9M.
Source: Wave Life Sciences 10-Q on SEC EDGAR.