Zai Lab Limited ZLAB NASDAQ

Zai Lab Limited (ZLAB) reported strong year-over-year revenue growth of +15.3% through 2025-12 (TTM revenue vs prior-year TTM). The latest quarter net income was –$50M, with a YoY change of +31.7%. The net profit margin is -39.5%, which is negative. The company has not reported a profitable quarter in the last 4 quarters. The gross margin is 58.8% (high), down 4.1pp vs the prior year. With a $2B market cap, MOAT composite score of 61/100 (moderate competitive position).

Criteria proven by this page:

• GROWTH (100/100, Pass) — proving strong growth momentum
• PAST (0/100, Fail) — the company has frequently reported losses. Looking at the full 11-year annual history, the company was profitable in 0 of 11 years — a mixed long-term record
• INCOME (10/100, Fail) — the company is currently operating at a loss
• MOAT (61/100, Partial) — some competitive advantages are present but not dominant

Overall SharesGrow Score: 61/100 with 3/7 criteria passed.