Filing Flows › Zai Lab (ZLAB) › Q1 2026
Zai Lab (ZLAB) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Zai Lab (ZLAB) reported revenue of $99.6M for the first quarter 2026 (Q1 2026), -6% from a year earlier and -22% from the quarter before. Operating margin was -69.7%, net loss $51.0M (51.2% of revenue).
Zai Lab, Q1 2026: revenue $99.6M (-6% year over year), operating margin -69.7%, net loss $51.0M, operating cash flow −$11.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $99.6M | -22% | -6% |
| Operating profit | −$69.4M | — | — |
| Net earnings | −$51.0M | — | — |
| Operating cash flow | −$11.9M | — | — |
What changed
Revenue was $99.6M in Q1 2026, down 6% year over year and down 22% from the previous quarter. ZEJULA was the largest line at 30% of revenue. ZEJULA lost $19.6M year over year (down 39%), 284% of the total change.
Operating costs exceeded revenue by $69.4M, an operating margin of -69.7%. Total costs grew 4% against a revenue fall of 6%. The quarter ended with a net loss of $51.0M, wider than the previous quarter's $50.4M loss. Non-operating items added $19.8M, -40% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$11.9M. Non-cash charges added back $3.9M of depreciation and amortization and $13.5M of share-based compensation. Working capital and other items added $21.6M. Capital expenditures of $1.2M exceeded it, leaving free cash flow of −$13.1M.
Questions
What was Zai Lab's revenue in the first quarter 2026?
Zai Lab (ZLAB) reported revenue of $99.6M for the first quarter 2026 (Q1 2026), -6% from a year earlier and -22% from the quarter before.
Was Zai Lab profitable in the first quarter 2026?
Operating loss was $69.4M (-69.7% of revenue) and net loss $51.0M.
Source: Zai Lab 10-Q on SEC EDGAR.