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How ZAI LAB LIMITED makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$457M · 100%Cost of revenue$191M · 42%Gross profit$267M · 58%Operating income−$229M · −50%Income before tax−$178M · −39%Income tax−$2.9M · −1%Net income−$176M · −38%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$457M100%
Cost of revenue$191M42%
$267M58%
−$229M−50%
Income before tax−$178M−39%
Income tax−$2.9M−1%
−$176M−38%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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