Filing Flows › Zymeworks (ZYME) › Q3 2025
Zymeworks (ZYME) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Zymeworks (ZYME) reported revenue of $27.6M for the third quarter 2025 (Q3 2025), +73% from a year earlier and -43% from the quarter before. Operating margin was -80.1%, net loss $19.6M (71.0% of revenue).
Zymeworks, Q3 2025: revenue $27.6M (+73% year over year), operating margin -80.1%, net loss $19.6M, operating cash flow −$31.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.6M | -43% | +73% |
| Operating profit | −$22.1M | — | — |
| Net earnings | −$19.6M | -946% | — |
| Operating cash flow | −$31.4M | -360% | — |
What changed
Revenue was $27.6M in Q3 2025, up 73% year over year and down 43% from the previous quarter.
Operating costs exceeded revenue by $22.1M, an operating margin of -80.1%. Total costs fell 1% while revenue rose 73%. The quarter ended with a net loss of $19.6M, after a profit of $2.3M the previous quarter. Non-operating items added $3.8M, -21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$31.4M. Non-cash charges added back $1.6M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items used $20.3M. Capital expenditures of $410K exceeded it, leaving free cash flow of −$31.8M.
Questions
What was Zymeworks' revenue in the third quarter 2025?
Zymeworks (ZYME) reported revenue of $27.6M for the third quarter 2025 (Q3 2025), +73% from a year earlier and -43% from the quarter before.
Was Zymeworks profitable in the third quarter 2025?
Operating loss was $22.1M (-80.1% of revenue) and net loss $19.6M.
Source: Zymeworks 10-Q on SEC EDGAR.