Zentalis Pharmaceuticals, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Zentalis Pharmaceuticals, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
67.4
0
Research and development
38.4
84.9
176
173
190
168
107
General and administrative
8.46
33.9
40.9
54.6
64.4
87.1
37.7
Operating expenses
46.8
119
217
227
300
259
153
Operating income
-46.8
-119
-217
-227
-300
-191
-153
Pre-tax income
-46.4
-118
-166
-238
-293
-166
-137
Income tax
0.02
0.44
-0.3
-0.47
-0.6
0.18
0.44
Net income to minority interests
-0.72
-0.71
-7.37
-0.31
-0.11
-0.03
0
Net income
-45.7
-118
-159
-237
-292
-166
-137
EBITDA
-46.7
-119
-216
-226
-298
-190
-152
EPS, basic
-4.19
-3.72
-4.48
-4.47
-2.33
-1.91
EPS, diluted
-8.16
-4.19
-3.72
-4.48
-4.47
-2.33
-1.91
Shares, basic (weighted)
5.6
28.1
42.7
52.9
65.4
71.1
71.9
Shares, diluted (weighted)
5.6
28.1
42.7
52.9
65.4
71.1
71.9
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
67.2
55
59.7
43.1
28
33.9
36
Short-term investments
284
455
318
210
Receivables
0.14
0.42
0
0
5
0
Other current assets
1.51
6.18
10.6
14.6
13.8
9.98
7.3
Total current assets
68.9
345
351
452
497
386
253
Property, plant and equipment
0.5
1.1
8.15
7.71
5.82
4.7
2.77
Lease right-of-use assets
2.34
2.52
44.7
42.4
35.9
32.5
26.3
Goodwill
3.74
3.74
3.74
3.74
3.74
0
Intangible assets
8.8
Total assets
87.5
366
455
539
552
430
289
Accounts payable
4.29
8.66
11.6
11.2
14.9
7.44
7.21
Accrued liabilities
10.6
19.9
32.4
45.4
54.4
45.3
29.4
Total current liabilities
14.9
28.6
43.9
56.6
69.4
52.7
36.6
Lease liabilities
1.1
44.5
45.2
43.2
39.6
35.7
Other non-current liabilities
1.7
1.1
0
2.62
1.78
0.85
0.5
Total liabilities
19.1
32.2
90
105
114
93.2
72.8
Paid-in capital
0
509
724
1,031
1,324
1,391
1,407
Retained earnings
-83
-201
-360
-596
-889
-1,054
-1,191
Other comprehensive income
0
0.04
-0.13
-1.35
2.19
0.56
0.2
Shareholders' equity
309
364
434
437
337
216
Minority interests
6.82
24.8
0.53
0.22
0.11
0
Total equity
-73.3
333
364
434
437
337
216
Total liabilities and equity
87.5
366
455
539
552
430
289
Shares outstanding
41
45.5
59.3
70.8
71.3
69.1
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-46.4
-119
-166
-237
-292
-166
-137
Depreciation and amortization
0.11
0.16
0.54
1.43
1.39
1.29
0.74
Stock-based compensation
0.62
23.1
35.7
46.8
54.8
67.3
20.7
Deferred income tax
0
0.02
-0.86
-0.78
-0.89
-0.06
0.05
Change in receivables
0.78
-0.28
0.41
0
0
-5
5
Change in payables
7.12
14.3
14
15.5
10.9
-18
-17.3
Cash from operations
-39.1
-86.8
-154
-164
-208
-171
-125
Capital expenditures
-0.35
-0.76
-6.11
-2.55
-0.58
-0.22
0
Purchases of investments
0
-401
-364
-533
-549
-128
-139
Sales and maturities of investments
0
117
366
422
505
271
250
Cash from investing
-0.35
-285
-18.1
-114
-44.5
177
132
Stock issued
0
155
172
258
236
0
5.39
Share buybacks
0
0
-9.98
Cash from financing
81.8
360
179
261
237
0.11
-4.28
Net change in cash
42.3
-11.2
6.31
-16.9
-15
5.81
2.09
Free cash flow
-39.5
-87.6
-160
-166
-208
-171
-125
Income taxes paid
0.02
0.02
0.02
0.01
0.14
0.36
0.09
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.70 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-97.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-64.8%
Net income / average total assets.
Return on invested capital (ROIC)
-101.9%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-100.0%
Revenue vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-35.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-20.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-6.9%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-32.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-18.8%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-4.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
1.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
10.8%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
20.6%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.82x
Current assets / current liabilities.
Quick ratio
4.64x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
4.64x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$1.80
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.80
Cash from operations / diluted weighted shares.
Book value per share
$2.00
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
1.78x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.78x
Market cap / tangible book value, when positive.
FCF yield
-50.1%
Free cash flow / market cap.
Earnings yield
-54.6%
Net income / market cap (the inverse of P/E).
What was Zentalis Pharmaceuticals, Inc.'s revenue in fiscal 2025?
Zentalis Pharmaceuticals, Inc. reported revenue of $0.0 for fiscal 2025, 100% lower than the year before.
Was Zentalis Pharmaceuticals, Inc. profitable in fiscal 2025?
No. It reported a net loss of $137.1M.
How much free cash flow did Zentalis Pharmaceuticals, Inc. generate in fiscal 2025?
Cash from operations of $125.2M minus capital expenditures of $0.0 left free cash flow of -$125.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.