The financials
Zai Lab Limited by the numbers
Zai Lab Limited (ZLAB) reported revenue of $100M in Q1 2026 (quarter ended March 31, 2026), down 6.5% from the same quarter a year earlier. That came with a gross margin of 62% and net loss of $51M. For the full year FY2025, revenue was $460M (+15% year on year) and net income −$176M. Its largest product in 2026-Q1 was Zejula at $30M, 31% of the disclosed total, just ahead of Vyvgart Vyvgart Hytrulo at 18%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $100M | $106M | −6.5% |
| Gross profit | $61M | $68M | −9.9% |
| Operating income | −$69M | −$56M | n/a |
| Net income | −$51M | −$48M | n/a |
| Diluted EPS | −$0.05 | −$0.04 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Zejula | $30M | 31% |
| Vyvgart Vyvgart Hytrulo | $18M | 18% |
| Nuzyra | $16M | 17% |
| Optune | $12M | 13% |
| Qinlock | $9.0M | 9.4% |
| XACDURO | $8.6M | 9.0% |
| AUGTYRO | $1.8M | 1.9% |
| Product And Service Other | $357K | 0.4% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $95.6M (-17%)
XACDURO grew +667% year on yearZejula -39% year on year
Segment Latestquarter on quarteryear on year
- Zejula$30.0M$30.0MQoQ -29%year on year -39%-29%-39%
- Vyvgart Vyvgart Hytrulo$17.6M$17.6MQoQ -37%year on year -3.1%-37%-3.1%
- Nuzyra$16.3M$16.3MQoQ +5.4%year on year +7.6%+5.4%+7.6%
- Optune$12.1M$12.1MQoQ -4.6%year on year +6.2%-4.6%+6.2%
- Qinlock$9.0M$9.0MQoQ +0.94%year on year +5.6%+0.94%+5.6%
- XACDURO$8.6M$8.6MQoQ +33%year on year +667%+33%+667%
- AUGTYRO$1.8M$1.8MQoQ +6.9%year on year +10%+6.9%+10%
- Product And Service Other$357.0K$357.0KQoQ +288%year on year +26%+288%+26%
- Vyvgart--QoQ -year on year ---