Filing Flows › Wave Life Sciences (WVE) › Q1 2026
Wave Life Sciences (WVE) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 28, 2026
Wave Life Sciences (WVE) reported revenue of $38.2M for the first quarter 2026 (Q1 2026), +317% from a year earlier and +122% from the quarter before. Operating margin was -81.8%, net loss $26.1M (68.2% of revenue).
Wave Life Sciences, Q1 2026: revenue $38.2M (+317% year over year), operating margin -81.8%, net loss $26.1M, operating cash flow −$59.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $38.2M | +122% | +317% |
| Operating profit | −$31.3M | — | — |
| Net earnings | −$26.1M | — | — |
| Operating cash flow | −$59.6M | — | — |
What changed
Revenue was $38.2M in Q1 2026, up 317% year over year and up 122% from the previous quarter.
Operating costs exceeded revenue by $31.3M, an operating margin of -81.8%. Total costs grew 18% against revenue growth of 317%. The fastest-growing cost line was General & admin (+20%). The quarter ended with a net loss of $26.1M, narrower than the previous quarter's $53.2M loss.
Operating cash flow was −$59.6M. Non-cash charges added back $841K of depreciation and $9.1M of share-based compensation. Working capital and other items used $43.4M. Capital expenditures of $438K exceeded it, leaving free cash flow of −$60.0M.
Questions
What was Wave Life Sciences' revenue in the first quarter 2026?
Wave Life Sciences (WVE) reported revenue of $38.2M for the first quarter 2026 (Q1 2026), +317% from a year earlier and +122% from the quarter before.
Was Wave Life Sciences profitable in the first quarter 2026?
Operating loss was $31.3M (-81.8% of revenue) and net loss $26.1M.
Source: Wave Life Sciences 10-Q on SEC EDGAR.