Zenas BioPharma Q3 2026 Revenue Tops Estimates at $10.0M, but EPS Misses at -$1.65
Revenue of $10.0M vs. $1.0M expected and EPS of -$1.65 vs. -$1.24.
Zenas BioPharma (ZBIO) posted mixed third-quarter 2026 results, with revenue above the estimate and EPS below it. Revenue was $10.0 million above the $1.0 million estimate, and EPS was -$1.65, down 35% from a year earlier, below the -$1.24 estimate.
Q3 2026 scorecard
| Parameters | Expected | Actual | Beat/Miss |
|---|---|---|---|
| EPS | -$1.24 | -$1.65 | Miss by 33% |
| Revenue | $1.0M | $10.0M | Beat by 892% |
| Change | QoQ |
|---|---|
| EPS | ▲ 6.8% |
| Revenue | ▲ 900% |
By our calculation, revenue was $9.0 million above the estimate and EPS was $0.41 below it. The QoQ column compares with the previous quarter's revenue of $1.0 million and EPS of -$1.77.
GAAP results
- Net loss. The company reported a net loss of $108.9 million on a GAAP basis, compared with a net loss of $51.5 million a year earlier.
Track record
- EPS record. EPS beat the estimate in 1 of the last 8 reports, including this one.
- Revenue record. Revenue beat the estimate in 2 of the last 3 reports.
What to watch
- Next-quarter estimates. Consensus calls for EPS of -$1.11 and revenue of $11.3 million next quarter, based on 2 analysts.
- Next report. Zenas BioPharma is next expected to report on April 12, 2027.
- Estimate record. Whether Zenas BioPharma returns to beating EPS estimates, which it did in 1 of its last 8 reports.
- Related coverage. See our reports on Virtu Financial, IMAX, Centuri and Cronos.
Sources: Results are from Zenas BioPharma's Nov. 5, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Zenas BioPharma'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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