Zai Lab Beats Q3 2026 Estimates as Revenue Falls 6.8% to $108.2M
Revenue of $108.2M vs. $107.9M expected and adjusted EPS of -$0.41 vs. -$0.59; revenue down 6.8% from a year earlier.
Zai Lab (ZLAB) beat estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $108.2 million, down 6.8% from a year earlier, above the $107.9 million estimate, and adjusted EPS was -$0.41, down 24% from a year earlier, above the -$0.59 estimate.
Shares were unchanged in premarket trading as of 6:35 a.m. ET, to $22.80 from a $22.80 close.
Q3 2026 scorecard
| Parameters | Expected | Actual | Beat/Miss |
|---|---|---|---|
| Adjusted EPS | -$0.59 | -$0.41 | Beat by 31% |
| Revenue | $107.9M | $108.2M | Beat by 0.3% |
| Change | YoY | QoQ |
|---|---|---|
| Adjusted EPS | ▼ 24% | ▲ 11% |
| Revenue | ▼ 6.8% | ▲ 1.8% |
By our calculation, revenue was $309 thousand above the estimate and adjusted EPS was $0.18 above it. The QoQ column compares with the previous quarter's revenue of $106.3 million and adjusted EPS of -$0.46. The YoY column compares with $116.1 million and -$0.33 in the same quarter a year earlier.
GAAP results
- GAAP EPS. GAAP diluted EPS was -$0.40, against -$0.33 a year earlier.
- Net loss. The company reported a net loss of $46.1 million on a GAAP basis, compared with a net loss of $36.0 million a year earlier.
Track record
- EPS record. Adjusted EPS beat the estimate in 4 of the last 8 reports, including this one.
- Revenue record. Revenue beat the estimate in 3 of the last 8 reports.
- Revenue trend. Revenue over the last 5 reports, oldest first: $116.1 million, $127.6 million, $99.6 million, $106.3 million and $108.2 million.
What to watch
- Next-quarter estimates. Consensus calls for EPS of -$0.64 and revenue of $112.4 million next quarter, based on 6 analysts.
- Revenue growth. Whether revenue stabilizes after this quarter's 6.8% decline from a year earlier to $108.2 million.
- Estimate record. Whether Zai Lab extends a record of beating EPS estimates in 4 of its last 8 reports.
- Related coverage. See our reports on BeOne Medicines, NewAmsterdam Pharma, Advanced Drainage Systems and Americold Realty Trust.
Sources: Results are from Zai Lab's Nov. 5, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Zai Lab's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.
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