Filing Flows › Zymeworks (ZYME) › Q3 2026 › vs Q3 2025
Zymeworks (ZYME) Q3 2026 vs Q3 2025 (year over year)
Zymeworks's revenue rose $229M (+829%) from $27.6M in Q3 2025 to $256M in Q3 2026. The biggest changes: License and milestone revenue +$225M (+890%); Royalty and other revenue +$2.5M (+108%); Viatris collaboration agreement revenue +$1.5M (—). Operating margin 69.2% against -80.1% (+149.3 pts).
Zymeworks, Q3 2026: revenue $256M (+829% year over year), operating margin 69.2%, net earnings $174M, operating cash flow −$24.0M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 69.2% | -80.1% | +149.3 pts |
| Net margin | 67.7% | -71.0% | +138.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| License and milestone revenue | $250M | $25.2M | $225M | +890% |
| Royalty and other revenue | $4.9M | $2.4M | $2.5M | +108% |
| Viatris collaboration agreement revenue | $1.5M | $0 | $1.5M | — |
| Revenue | $256M | $27.6M | $229M | +829% |
| Operating profit | $178M | −$22.1M | $200M | — |
| Costs & expenses | $78.9M | $49.7M | $29.1M | +59% |
| Pre-tax earnings | $173M | −$18.3M | $192M | — |
| Other expense, net | $4.3M | −$3.8M | $8.2M | — |
| Research & development | $36.1M | $35.6M | $548K | +2% |
| SG&A | $42.7M | $14.1M | $28.6M | +202% |
| Income tax benefit | $452K | −$1.3M | $1.8M | — |
| Net earnings | $174M | −$19.6M | $193M | — |
| Operating cash sources | $223M | $20.3M | $202M | +998% |
| Depreciation & amortization | $1.7M | $1.6M | $164K | +11% |
| Share-based compensation | $23.1M | $6.9M | $16.2M | +234% |
| Cash used in operations | $24.0M | $31.4M | −$7.4M | -23% |
| Working capital & other | $223M | $20.3M | $202M | +998% |
Questions
How much did Zymeworks's revenue grow year over year in Q3 2026?
Zymeworks's revenue rose $229M (+829%) from $27.6M in Q3 2025 to $256M in Q3 2026.
What drove Zymeworks's revenue change in Q3 2026?
License and milestone revenue +$225M (+890%); Royalty and other revenue +$2.5M (+108%); Viatris collaboration agreement revenue +$1.5M (—).