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).
Development-stage cash consumption dominates Zura’s model, with losses converting almost directly into funding needs and limited physical reinvestment.
In FY2025, operating cash flow of-$64.8M almost matched free cash flow of-$64.9M ; with only modest reinvestment, the accounting loss translated nearly one-for-one into cash consumption. That alignment, as the net loss deepened from FY2024 to FY2025, points to an operating model whose main cash need is ongoing development spending rather than heavy physical capital investment.
The balance sheet became smaller but not more debt-dependent: total assets fell to
FY2025 R&D spending reached
Financial Health Signals
Zura Bio Limited 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.
Zura Bio Limited passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Zura Bio Limited reported a net loss of $68.7M while operations used $64.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
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.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Zura Bio Limited recorded an outflow of $64.9M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 130.6% from the prior year.
Zura Bio Limited held $109.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
ZURA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $20.7M+40.4% | $14.7M | N/A | $11.9M+37.3% | $8.7M-16.9% | $10.5M | N/A | $6.0M |
| SG&A Expenses | $8.6M-19.9% | $10.8M | N/A | $7.6M-19.1% | $9.4M+6.6% | $8.8M | N/A | $13.3M |
| Operating Income | -$29.3M-15.0% | -$25.5M | N/A | -$19.5M-8.1% | -$18.1M+6.2% | -$19.3M | N/A | -$19.3M |
| Income Tax | -$81K | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Net Income | -$26.3M-8.6% | -$24.2M | N/A | -$18.0M-12.8% | -$16.0M+8.3% | -$17.4M | N/A | -$20.7M |
| EPS (Diluted) | -$0.21+4.5% | -$0.22+55.1% | -$0.49-133.3% | -$0.21-23.5% | -$0.17+10.5% | -$0.19-137.5% | -$0.08+69.2% | -$0.26 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
ZURA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $213.4M-6.7% | $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 |
| Current Assets | $210.5M-7.3% | $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 |
| Cash & Equivalents | $205.1M-9.1% | $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 |
| Total Liabilities | $16.3M+38.9% | $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 |
| Current Liabilities | $16.3M+38.9% | $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 |
| Total Equity | $197.1M-9.1% | $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 |
| Retained Earnings | -$275.1M-10.6% | -$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 |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
ZURA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $18.9M+199.8% | -$18.9M+15.1% | -$22.3M+47.6% | -$42.5M-485.2% | $11.0M+199.8% | -$11.1M-2.2% | -$10.8M-91.5% | -$5.7M |
| Capital Expenditures | -$13K-0.3% | $13K-23.5% | $17K-82.3% | $96K+96.0% | -$49K-0.1% | $49K+8.9% | $45K+246.2% | $13K |
| Free Cash Flow | $18.9M+199.7% | -$18.9M+15.1% | -$22.3M+47.7% | -$42.6M-487.8% | $11.0M+198.9% | -$11.1M-2.2% | -$10.9M-91.8% | -$5.7M |
| Investing Cash Flow | $13K+199.7% | -$13K+23.5% | -$17K+82.3% | -$96K-296.0% | $49K+199.9% | -$49K-8.9% | -$45K-246.2% | -$13K |
| Financing Cash Flow | -$135.0M-199.9% | $135.1M+1947.2% | -$7.3M-242.1% | $5.1M+199.4% | -$5.2M-199.9% | $5.2M+706.9% | -$854K-115.7% | $5.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ZURA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -13.4%-2.2pp | -11.2% | N/A | -16.7%-4.0pp | -12.7%-0.1pp | -12.6% | N/A | -13.5% |
| Return on Assets | -12.3%-1.7pp | -10.6% | N/A | -12.5%-2.4pp | -10.1%0.0pp | -10.1% | N/A | -10.9% |
| Current Ratio | 12.90-6.4x | 19.33+10.3x | 9.05+3.5x | 5.58-2.8x | 8.40+0.3x | 8.14-1.0x | 9.16-1.2x | 10.36 |
| Debt-to-Equity | 0.080.0x | 0.05-0.1x | 0.12-0.1x | 0.24+0.1x | 0.150.0x | 0.150.0x | 0.130.0x | 0.12 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Zura Bio Limited Ranks
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) recorded an outflow of $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) recorded an outflow of $64.8M in operating cash flow during fiscal year 2025, representing cash used by 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.
How does Zura Bio Limited's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Zura Bio Limited (ZURA) held $109.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $64.8M over that year. Dividing the one by the other, the reported balance equals about 20 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 Zura Bio Limited's Piotroski F-Score?
Zura Bio Limited (ZURA) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Zura Bio Limited's earnings high quality?
Zura Bio Limited (ZURA) reported a net loss of $68.7M while operations used $64.8M 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.