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Emergent BioSolutions vs Zai Lab: EBS and ZLAB compared
Emergent BioSolutions is the larger company: $110M of revenue in its latest quarter (Q3 2026) against $108M for Zai Lab (Q3 2026). Zai Lab is growing faster (-7% against -52% a year earlier). Emergent BioSolutions is more profitable, with an operating margin of -33.9% against -58.2%.
Where the money goes: EBS and ZLAB
Emergent BioSolutions (EBS) · Q3 2026
Emergent BioSolutions, Q3 2026: revenue $110M (-52% year over year), operating margin -33.9%, net loss $32.7M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
Zai Lab (ZLAB) · Q3 2026
Zai Lab, Q3 2026: revenue $108M (-7% year over year), operating margin -58.2%, net loss $46.1M, operating cash flow −$57.9M. The chart follows the revenue to costs, profit and cash.
| Emergent BioSolutions (EBS) | Zai Lab (ZLAB) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $110M | $108M |
| Revenue growth, Y/Y | -52% | -7% |
| Operating margin | -33.9% | -58.2% |
| Net earnings | −$32.7M | −$46.1M |
| Net margin | -29.7% | -42.6% |
| Operating cash flow | $100M | −$57.9M |
| Free cash flow | $96.8M | — |
Where the revenue comes from
Emergent BioSolutions
- MCM Product sales: $59.4M (54%)
- Commercial Product sales: $43.5M (40%)
- All other revenue: $7.1M (6%)
Zai Lab
- ZEJULA: $32.3M (30%)
- VYVGART / VYVGART Hytrulo: $24.1M (22%)
- NUZYRA: $21.1M (19%)
- QINLOCK: $8.8M (8%)
Questions
Which is bigger, Emergent BioSolutions or Zai Lab?
Emergent BioSolutions is the larger company: $110M of revenue in its latest quarter (Q3 2026) against $108M for Zai Lab (Q3 2026).
Is Emergent BioSolutions or Zai Lab growing faster?
Zai Lab is growing faster (-7% against -52% a year earlier).
Which is more profitable, Emergent BioSolutions or Zai Lab?
Emergent BioSolutions is more profitable, with an operating margin of -33.9% against -58.2%.
More: Emergent BioSolutions earnings · how Emergent BioSolutions makes money · Zai Lab earnings · how Zai Lab makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.