Zura Bio Limited Financials
This page shows Zura Bio Limited (ZURA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Zura Bio’s business mechanic is a cash-funded development model: operating burn, not debt service or capex, drives the story.
Between FY2024 and FY2025, cash fell from$176.5M to$109.4M as free cash outflow widened from-$28.2M to-$64.9M ; with capex only$113K in FY2025 and liabilities just$12.4M , the balance sheet is being consumed mainly by program and overhead spending, not by asset build-out or debt repayment.
FY2025 still shows a liquidity-heavy balance sheet: cash of
The loss appears to be economically real rather than accounting noise: net loss was
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Zura Bio Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Zura Bio Limited carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 9.05, Zura Bio Limited holds $9.05 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Zura Bio Limited generates a -67.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -35.7% the prior year.
Zura Bio Limited passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Zura Bio Limited generates $0.94 in operating cash flow (-$64.8M OCF vs -$68.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Zura Bio Limited's EBITDA was -$75.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.3% from the prior year.
Zura Bio Limited reported -$68.7M in net income in fiscal year 2025. This represents a decrease of 31.0% from the prior year.
Zura Bio Limited earned $-1.06 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 76.7% from the prior year.
Cash & Balance Sheet
Zura Bio Limited generated -$64.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 130.6% from the prior year.
Zura Bio Limited held $109.4M in cash against $0 in long-term debt as of fiscal year 2025.
Zura Bio Limited had 74M shares outstanding in fiscal year 2025. This represents an increase of 12.8% from the prior year.
Margins & Returns
Zura Bio Limited's ROE was -67.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 31.9 percentage points from the prior year.
Capital Allocation
Zura Bio Limited invested $42.1M in research and development in fiscal year 2025. This represents an increase of 72.5% from the prior year.
Zura Bio Limited invested $113K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 50.7% from the prior year.
ZURA Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $14.7M | N/A | $11.9M+37.3% | $8.7M-16.9% | $10.5M | N/A | $6.0M+8.8% | $5.5M |
| SG&A Expenses | $10.8M | N/A | $7.6M-19.1% | $9.4M+6.6% | $8.8M | N/A | $13.3M+113.7% | $6.2M |
| Operating Income | -$25.5M | N/A | -$19.5M-8.1% | -$18.1M+6.2% | -$19.3M | N/A | -$19.3M-64.3% | -$11.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$24.2M | N/A | -$18.0M-12.8% | -$16.0M+8.3% | -$17.4M | N/A | -$20.7M-100.4% | -$10.3M |
| EPS (Diluted) | $-0.22 | N/A | $-0.21-23.5% | $-0.17+10.5% | $-0.19 | N/A | $-0.26-52.9% | $-0.17 |
ZURA Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $228.6M+100.7% | $113.9M-20.8% | $143.9M-8.8% | $157.8M-8.5% | $172.5M-3.9% | $179.5M-5.0% | $189.1M-0.2% | $189.5M |
| Current Assets | $227.0M+102.1% | $112.3M-21.1% | $142.3M-9.4% | $157.0M-8.6% | $171.7M-3.9% | $178.7M-5.4% | $189.0M-0.3% | $189.5M |
| Cash & Equivalents | $225.6M+106.2% | $109.4M-21.3% | $139.0M-10.0% | $154.5M-9.4% | $170.6M-3.4% | $176.5M-6.2% | $188.2M-0.1% | $188.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $11.7M-5.4% | $12.4M-51.3% | $25.5M+36.3% | $18.7M-11.4% | $21.1M+8.1% | $19.5M+7.0% | $18.2M+4.6% | $17.4M |
| Current Liabilities | $11.7M-5.4% | $12.4M-51.3% | $25.5M+36.3% | $18.7M-11.4% | $21.1M+8.1% | $19.5M+7.0% | $18.2M+21.0% | $15.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $216.9M+113.6% | $101.5M-6.2% | $108.2M-14.0% | $125.9M-8.9% | $138.2M-5.9% | $146.8M-4.1% | $153.0M-2.2% | $156.5M |
| Retained Earnings | -$248.8M-10.8% | -$224.5M-8.3% | -$207.4M-9.5% | -$189.3M-9.2% | -$173.3M-11.2% | -$155.9M-9.6% | -$142.3M-17.0% | -$121.6M |
ZURA Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.9M+15.1% | -$22.3M-44.3% | -$15.4M+3.7% | -$16.0M-44.9% | -$11.1M-2.2% | -$10.8M-91.5% | -$5.7M+14.6% | -$6.6M |
| Capital Expenditures | $13K-23.5% | $17K-46.9% | $32K+113.3% | $15K-69.4% | $49K+8.9% | $45K+246.2% | $13K+30.0% | $10K |
| Free Cash Flow | -$18.9M+15.1% | -$22.3M-44.1% | -$15.5M+3.5% | -$16.0M-44.4% | -$11.1M-2.2% | -$10.9M-91.8% | -$5.7M+14.5% | -$6.6M |
| Investing Cash Flow | -$13K+23.5% | -$17K+46.9% | -$32K-113.3% | -$15K+69.4% | -$49K-8.9% | -$45K-246.2% | -$13K-30.0% | -$10K |
| Financing Cash Flow | $135.1M+1947.2% | -$7.3M-243933.3% | $3K+108.8% | -$34K-100.7% | $5.2M+706.9% | -$854K-115.7% | $5.4M | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ZURA Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -11.2% | N/A | -16.7%-4.0pp | -12.7%-0.1pp | -12.6% | N/A | -13.5%-6.9pp | -6.6% |
| Return on Assets | -10.6% | N/A | -12.5%-2.4pp | -10.1%-0.0pp | -10.1% | N/A | -10.9%-5.5pp | -5.5% |
| Current Ratio | 19.33+10.3 | 9.05+3.5 | 5.58-2.8 | 8.40+0.3 | 8.14-1.0 | 9.16-1.2 | 10.36-2.2 | 12.57 |
| Debt-to-Equity | 0.05-0.1 | 0.12-0.1 | 0.24+0.1 | 0.150.0 | 0.15+0.0 | 0.13+0.0 | 0.120.0 | 0.11 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Zura Bio Limited profitable?
No, Zura Bio Limited (ZURA) reported a net income of -$68.7M in fiscal year 2025.
What is Zura Bio Limited's EBITDA?
Zura Bio Limited (ZURA) had EBITDA of -$75.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Zura Bio Limited's return on equity (ROE)?
Zura Bio Limited (ZURA) has a return on equity of -67.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Zura Bio Limited's free cash flow?
Zura Bio Limited (ZURA) generated -$64.9M in free cash flow during fiscal year 2025. This represents a -130.6% 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 Zura Bio Limited's operating cash flow?
Zura Bio Limited (ZURA) generated -$64.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Zura Bio Limited's total assets?
Zura Bio Limited (ZURA) had $113.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Zura Bio Limited's capital expenditures?
Zura Bio Limited (ZURA) invested $113K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Zura Bio Limited spend on research and development?
Zura Bio Limited (ZURA) invested $42.1M in research and development during fiscal year 2025.
What is Zura Bio Limited's current ratio?
Zura Bio Limited (ZURA) had a current ratio of 9.05 as of fiscal year 2025, which is generally considered healthy.
What is Zura Bio Limited's debt-to-equity ratio?
Zura Bio Limited (ZURA) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zura Bio Limited's return on assets (ROA)?
Zura Bio Limited (ZURA) had a return on assets of -60.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Zura Bio Limited's cash runway?
Based on fiscal year 2025 data, Zura Bio Limited (ZURA) had $109.4M in cash against an annual operating cash burn of $64.8M. This gives an estimated cash runway of approximately 20 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Zura Bio Limited's Piotroski F-Score?
Zura Bio Limited (ZURA) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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 Zura Bio Limited's earnings high quality?
Zura Bio Limited (ZURA) has an earnings quality ratio of 0.94x, considered low quality (accrual-driven). 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.
How financially healthy is Zura Bio Limited?
Zura Bio Limited (ZURA) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.