NASDAQ:ZBIO
Zenas BioPharma, Inc.
Zenas BioPharma, Inc.'s revenue grew 100.0% in fiscal 2025 to $10.0M while operating margin fell to −3830.6%, its lowest in 3 years. Free cash flow was −$172.4M, −1723.5% of revenue, and the diluted share count rose 238.9%.Summary generated from Zenas BioPharma, Inc.'s SEC filings. Latest annual report filed Mar 16, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$10.0M
Revenue growth+100.0%
Revenue, 5-yr CAGRn/a
Gross marginn/a
Operating margin−3830.6%
Net margin−3777.4%
ROICn/a
Return on equity−136.2%
Debt / equity0.32
Free cash flow−$172.4M
FCF margin−1723.5%
Share count change+238.9%
Financials
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 50 | 5 | 10 |
| Operating income | −37 | −164 | −383 |
| Net income | −37 | −157 | −378 |
| Free cash flow | −31 | −120 | −172 |
Recent filings
- 4Insider transaction report
Sep 2, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Aug 13, 2026 - 8-KResults of operations and financial condition
Aug 13, 2026 - 4Insider transaction report
Jun 17, 2026 - 10-QQuarterly report for the period ended Mar 31, 2026
May 13, 2026 - 8-KResults of operations and financial condition
May 13, 2026 - 8-KEntry into a material agreement
Mar 31, 2026 - DEF 14AProxy statement
Mar 16, 2026