Filing Flows › Zenas BioPharma (ZBIO) › Q1 2025
Zenas BioPharma (ZBIO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Zenas BioPharma (ZBIO) reported revenue of $10.0M for the first quarter 2025 (Q1 2025) and +100% from the quarter before. Operating margin was -373.3%, net loss $33.6M (335.7% of revenue).
Zenas BioPharma, Q1 2025: revenue $10.0M, operating margin -373.3%, net loss $33.6M, operating cash flow −$37.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.0M | +100% | — |
| Operating profit | −$37.3M | — | — |
| Net earnings | −$33.6M | — | — |
| Operating cash flow | −$37.1M | — | — |
What changed
Revenue was $10.0M in Q1 2025, up 100% from the previous quarter.
Operating costs exceeded revenue by $37.3M, an operating margin of -373.3%. The quarter ended with a net loss of $33.6M, narrower than the previous quarter's $52.6M loss.
Operating cash flow was −$37.1M. Non-cash charges added back $23K of depreciation and $5.4M of share-based compensation. Working capital and other items used $8.9M. Capital expenditures of $18K exceeded it, leaving free cash flow of −$37.1M.
Questions
What was Zenas BioPharma's revenue in the first quarter 2025?
Zenas BioPharma (ZBIO) reported revenue of $10.0M for the first quarter 2025 (Q1 2025) and +100% from the quarter before.
Was Zenas BioPharma profitable in the first quarter 2025?
Operating loss was $37.3M (-373.3% of revenue) and net loss $33.6M.
Source: Zenas BioPharma 10-Q on SEC EDGAR.