Zentalis Pharmaceuticals, Inc. (ZNTL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ZNTL SEC filings page.
Zentalis Pharmaceuticals, Inc. (ZNTL) reported $0 in revenue for fiscal year 2025, down 100.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business remains development-led: research spending and operating losses outweigh limited commercial revenue, while financing rests on a liquid balance sheet.
Operating cash flow was-$170.9M against a net loss of$165.9M in FY2024, showing accounting losses largely translated into cash use. Free cash flow was-$171.1M while capital expenditures were$221K , so cash consumption was driven by the operating program rather than heavy physical reinvestment.
Development economics dominate the income statement: FY2024 research and development spending was
The balance sheet is equity-funded and liquid rather than debt-heavy: liabilities were
Financial Health Signals
Zentalis Pharmaceuticals, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Zentalis Pharmaceuticals, Inc. scores -4.65, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($238.6M) relative to total liabilities ($72.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Zentalis Pharmaceuticals, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Zentalis Pharmaceuticals, Inc. reported a net loss of $137.1M while operations used $125.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Zentalis Pharmaceuticals, Inc.'s EBITDA was -$44.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.2% from the same quarter a year earlier. Against the prior quarter it is down 17.3%.
Zentalis Pharmaceuticals, Inc. reported -$42.3M in net income in Q2 2026. This represents a decrease of 57.3% from the same quarter a year earlier. Against the prior quarter it is down 19.6%.
Zentalis Pharmaceuticals, Inc. earned -$0.59 per diluted share (EPS) in Q2 2026. This represents a decrease of 59.5% from the same quarter a year earlier. Against the prior quarter it is down 18.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Zentalis Pharmaceuticals, Inc. recorded an outflow of $37.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 7.3% from the same quarter a year earlier. Against the prior quarter it is down 12.9%.
Zentalis Pharmaceuticals, Inc. held $24.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Zentalis Pharmaceuticals, Inc.'s ROE was -29.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 19.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.1 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Zentalis Pharmaceuticals, Inc. invested $35.2M in research and development in Q2 2026. This represents an increase of 27.4% from the same quarter a year earlier. Against the prior quarter it is up 22.5%.
Zentalis Pharmaceuticals, Inc. reported no capital expenditure in Q2 2026. Against the prior quarter it is down 100.0%.
Not reported for Q2 2026.
ZNTL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | $0 | $0 | $0-100.0% | N/A | $0 |
| R&D Expenses | $35.2M+27.4% | $28.7M+5.4% | N/A | $22.9M-37.7% | $27.6M-42.9% | $27.2M-45.0% | N/A | $36.8M-21.3% |
| SG&A Expenses | $9.2M+9.2% | $9.1M-13.6% | N/A | $10.8M-26.2% | $8.4M-49.6% | $10.6M-32.8% | N/A | $14.6M-8.4% |
| Operating Income | -$44.4M-23.1% | -$37.9M+17.0% | N/A | -$33.7M+34.4% | -$36.1M+44.7% | -$45.6M-84.2% | N/A | -$51.4M+18.0% |
| EBITDA | -$44.2M-23.2% | -$37.7M+16.9% | N/A | -$33.6M+34.3% | -$35.9M+44.6% | -$45.4M-85.6% | N/A | -$51.1M+18.1% |
| Income Tax | $138K | $120K | N/A | $0+100.0% | $0-100.0% | $0-100.0% | N/A | -$27K-187.1% |
| Net Income | -$42.3M-57.3% | -$35.4M+26.8% | N/A | -$26.7M+33.5% | -$26.9M+69.6% | -$48.3M-579.5% | N/A | -$40.2M+27.7% |
| EPS (Basic) | -$0.59-59.5% | -$0.50+25.4% | -$0.49+25.8% | -$0.37+33.9% | -$0.37+70.2% | -$0.67-578.6% | -$0.66+20.5% | -$0.56+29.1% |
| EPS (Diluted) | -$0.59-59.5% | -$0.50+25.4% | -$0.49+25.8% | -$0.37+33.9% | -$0.37+70.2% | -$0.67-578.6% | -$0.66+20.5% | -$0.56+29.1% |
| Diluted Shares (Avg) | 71M-0.9% | 70M-2.0% | N/A | 72M+1.4% | 72M+1.3% | 72M+0.7% | N/A | 71M+0.7% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
ZNTL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $215.3M-38.8% | $253.1M-34.1% | $289.0M-32.9% | $327.3M-27.4% | $351.7M-28.5% | $384.0M-31.1% | $430.3M-22.0% | $450.7M-23.1% |
| Current Assets | $181.3M-41.8% | $218.1M-36.4% | $253.2M-34.4% | $288.3M-28.0% | $311.6M-29.1% | $342.9M-31.9% | $386.1M-22.3% | $400.3M-24.2% |
| Cash & Equivalents | $24.8M-34.1% | $31.9M-23.8% | $36.0M+6.2% | $39.1M-5.4% | $37.6M+1.7% | $41.9M+11.5% | $33.9M+20.9% | $41.3M-62.7% |
| Short-Term Investments | $149.8M-39.8% | $179.8M-35.4% | $209.9M-34.0% | $239.2M | $249.0M | $278.4M | $318.0M-30.1% | $0 |
| Accounts Receivable | N/A | N/A | $0-100.0% | $0 | $0 | $0 | $5.0M | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $3.7M0.0% |
| Total Liabilities | $71.7M-7.2% | $70.4M-20.6% | $72.8M-21.9% | $74.4M-22.8% | $77.2M-29.2% | $88.6M-10.2% | $93.2M-18.5% | $96.3M-7.2% |
| Current Liabilities | $37.6M-3.6% | $35.2M-28.7% | $36.6M-30.7% | $37.2M-32.3% | $39.0M-41.5% | $49.4M-9.8% | $52.7M-24.0% | $54.9M-6.9% |
| Non-Current Liabilities | $34.1M-10.8% | $35.1M-10.4% | $36.2M-10.4% | $37.2M-10.2% | $38.2M-9.9% | $39.2M-10.7% | $40.4M-10.0% | $41.5M-7.7% |
| Total Equity | $143.6M-47.7% | $182.7M-38.2% | $216.2M-35.9% | $252.9M-28.6% | $274.5M-28.3% | $295.4M-35.6% | $337.2M-22.9% | $354.3M-26.5% |
| Retained Earnings | -$1.3B-12.4% | -$1.2B-11.3% | -$1.2B-13.0% | -$1.2B-14.8% | -$1.1B-16.8% | -$1.1B-25.5% | -$1.1B-18.7% | -$1.0B-21.7% |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
ZNTL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$37.2M-7.3% | -$33.0M-1.0% | -$30.9M+22.1% | -$27.0M+38.8% | -$34.7M+1.2% | -$32.6M+37.2% | -$39.7M+2.2% | -$44.0M-13.9% |
| Depreciation & Amortization | $152K-5.0% | $151K-42.4% | $157K-50.5% | $160K-50.2% | $160K-51.1% | $262K-19.1% | $317K-5.9% | $321K-7.8% |
| Stock-Based Compensation | $3.2M-48.9% | $3.2M-50.7% | N/A | $4.8M-53.4% | $6.3M-50.5% | $6.5M-49.5% | N/A | $10.4M-25.3% |
| Capital Expenditures | $0 | $34K | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% |
| Free Cash Flow | -$37.2M-7.3% | -$33.0M-1.1% | -$30.9M+22.1% | -$27.0M+38.8% | -$34.7M+1.7% | -$32.6M+37.3% | -$39.7M+2.6% | -$44.0M-13.6% |
| Investing Cash Flow | $30.0M-1.2% | $30.0M-25.8% | $32.4M+0.5% | $28.3M-41.3% | $30.4M-11.9% | $40.5M-34.2% | $32.3M+176.8% | $48.2M+141.1% |
| Financing Cash Flow | $65K | -$1.1M-694.2% | -$4.6M | $115K+25.0% | $0-100.0% | $189K+2600.0% | $0 | $92K-70.2% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ZNTL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -29.4%-19.7pp | -19.4%-3.0pp | N/A | -10.6%+0.8pp | -9.8%+13.3pp | -16.3%-18.5pp | N/A | -11.3%+0.2pp |
| Return on Assets | -19.6%-12.0pp | -14.0%-1.4pp | N/A | -8.2%+0.7pp | -7.6%+10.3pp | -12.6%-14.4pp | N/A | -8.9%+0.6pp |
| Current Ratio | 4.82-3.2x | 6.19-0.7x | 6.93-0.4x | 7.76+0.5x | 7.99+1.4x | 6.94-2.3x | 7.32+0.2x | 7.29-1.7x |
| Debt-to-Equity | 0.50+0.2x | 0.39+0.1x | 0.34+0.1x | 0.290.0x | 0.280.0x | 0.30+0.1x | 0.280.0x | 0.27+0.1x |
| Asset Turnover | N/A | N/A | N/A | 0.000.0x | 0.000.0x | 0.00-0.1x | N/A | 0.000.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Zentalis Pharmaceuticals, Inc. ZNTL | FY2025 | $0 | -$137.1M | N/A | $238.6M | — |
| Biomea Fusion, Inc. BMEA | FY2025 | N/A | -$61.8M | N/A | $92.1M | — |
| Pyxis Oncology, Inc. PYXS | FY2025 | $13.9M | -$79.6M | N/A | $178.5M | 56/100 |
| Equillium, Inc. EQ | FY2025 | N/A | -$22.4M | N/A | $89.4M | — |
| Corbus Pharmaceuticals Holdings, Inc. CRBP | FY2025 | N/A | -$78.5M | N/A | $118.6M | — |
| Adagene Inc. ADAG | FY2025 | $7.7M | -$17.6M | N/A | $191.4M | 63/100 |
Where Zentalis Pharmaceuticals, Inc. Ranks
Frequently Asked Questions
What is Zentalis Pharmaceuticals, Inc.'s annual revenue?
Zentalis Pharmaceuticals, Inc. (ZNTL) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Zentalis Pharmaceuticals, Inc.'s revenue growing?
Zentalis Pharmaceuticals, Inc. (ZNTL) revenue declined by 100.0% year-over-year, from $67.4M to $0 in fiscal year 2025.
Is Zentalis Pharmaceuticals, Inc. profitable?
No, Zentalis Pharmaceuticals, Inc. (ZNTL) reported a net income of -$137.1M in fiscal year 2025.
What is Zentalis Pharmaceuticals, Inc.'s EBITDA?
Zentalis Pharmaceuticals, Inc. (ZNTL) had EBITDA of -$152.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Zentalis Pharmaceuticals, Inc.'s return on equity (ROE)?
Zentalis Pharmaceuticals, Inc. (ZNTL) has a return on equity of -63.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Zentalis Pharmaceuticals, Inc.'s free cash flow?
Zentalis Pharmaceuticals, Inc. (ZNTL) recorded an outflow of $125.2M in free cash flow during fiscal year 2025. This represents a 26.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Zentalis Pharmaceuticals, Inc.'s operating cash flow?
Zentalis Pharmaceuticals, Inc. (ZNTL) recorded an outflow of $125.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Zentalis Pharmaceuticals, Inc.'s total assets?
Zentalis Pharmaceuticals, Inc. (ZNTL) had $289.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Zentalis Pharmaceuticals, Inc.'s capital expenditures?
Zentalis Pharmaceuticals, Inc. (ZNTL) reported no capital expenditure during fiscal year 2025.
How much does Zentalis Pharmaceuticals, Inc. spend on research and development?
Zentalis Pharmaceuticals, Inc. (ZNTL) invested $107.3M in research and development during fiscal year 2025.
What is Zentalis Pharmaceuticals, Inc.'s current ratio?
Zentalis Pharmaceuticals, Inc. (ZNTL) had a current ratio of 6.93 as of fiscal year 2025, which is generally considered healthy.
What is Zentalis Pharmaceuticals, Inc.'s debt-to-equity ratio?
Zentalis Pharmaceuticals, Inc. (ZNTL) had a debt-to-equity ratio of 0.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zentalis Pharmaceuticals, Inc.'s return on assets (ROA)?
Zentalis Pharmaceuticals, Inc. (ZNTL) had a return on assets of -47.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Zentalis Pharmaceuticals, Inc.'s P/E ratio?
Zentalis Pharmaceuticals, Inc. (ZNTL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $238.6M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zentalis Pharmaceuticals, Inc.'s price-to-sales ratio?
Zentalis Pharmaceuticals, Inc. (ZNTL) has no price-to-sales ratio at the moment: revenue is not positive (FY2025). The market capitalization is $238.6M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Zentalis Pharmaceuticals, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Zentalis Pharmaceuticals, Inc. (ZNTL) held $245.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $125.2M over that year. Dividing the one by the other, the reported balance equals about 24 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Zentalis Pharmaceuticals, Inc.'s Altman Z-Score?
Zentalis Pharmaceuticals, Inc. (ZNTL) has an Altman Z-Score of -4.65, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Zentalis Pharmaceuticals, Inc.'s Piotroski F-Score?
Zentalis Pharmaceuticals, Inc. (ZNTL) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Zentalis Pharmaceuticals, Inc.'s earnings high quality?
Zentalis Pharmaceuticals, Inc. (ZNTL) reported a net loss of $137.1M while operations used $125.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.