Zymeworks (ZYME) Q3 FY2026 earnings: revenue $256 million, up 828.7% on the year

Zymeworks Inc. (ZYME) reported revenue of $256 million for Q3 FY2026, the quarter ended 30 September 2026, up 828.7% on the same quarter a year earlier. Net income was $174 million, and diluted earnings per share $2.28. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue

$256 million

+828.7% on the year · +5,487.4% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

69.2%

-80.1% a year earlier

Q4 FY2024Q3 FY2026

Net income

$174 million

Q4 FY2024Q3 FY2026

Diluted EPS

$2.28

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 1 new.

Revenue rose on Jazz milestone: Revenue was $256.5 million against $27.6 million a year earlier. The increase was mainly the $250.0 million Jazz milestone, partly offset by a $25.0 million J&J milestone recognized in 3Q 2025.
Net income reflected the milestone: Net income was $173.7 million, against a net loss of $19.6 million in 3Q 2025. Diluted EPS was $2.28. Management attributed the increase mainly to the milestone.
Jazz $250 million milestone received: The $250 million milestone from Jazz, tied to Ziihera's U.S. approval, was earned in August and is described as received in October 2026.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	256	4.6	27.6	+5,487.4%	+828.7%
Research and development	36.1	27.4	35.6	+31.7%	+1.5%
Selling, general and administrative	42.7	n/a	14.1		+202.1%
Operating income	178	-42.2	-22.1
Operating margin	69.2%	-919.0%	-80.1%
Pre-tax income	173	-45.3	-18.3
Income tax	-0.5	-0.3	1.3
Effective tax rate	-0.3%	n/a	n/a
Net income	174	-45.0	-19.6
Net margin	67.7%	-980.8%	-71.0%
Diluted EPS	$2.28	-$0.62	-$0.26

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-24.0	-31.9	-31.4
Capital expenditure	0.1	0.0	0.4		-82.2%
Free cash flow	-24.1	-31.9	-31.8
Free cash flow margin	-9.4%	-696.0%	-115.2%
Cash from investing	-390	17.1	0.4
Cash from financing	335	-50.0	-2.5
Depreciation and amortisation	1.7	1.1	1.6	+51.5%	+10.6%
Share-based compensation	23.1	11.3	6.9	+103.7%	+234.0%
Buybacks	12.0	51.9	16.2	-76.9%	-26.0%
Diluted shares, weighted	76m	73m	76m	+4.5%	+0.6%
Shares outstanding at period end	71m	71m	75m	-0.3%	-5.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	258	80.4	320	+221.3%	-19.3%
Debt	339	0.0	0.0
Operating lease liabilities	40.7	12.7	15.5	+220.3%	+162.5%
Finance lease liabilities	n/a	n/a	0.0
Other liabilities	539	304	61.7	+77.2%	+772.8%
Total liabilities and equity	1,176	397	397	+196.4%	+196.1%
Fixed assets	17.9	14.0	15.8	+28.4%	+13.2%
Goodwill	116	12.0	12.0	+868.7%	+868.7%
Intangible assets	0.8	1.0	1.4	-17.5%	-41.1%
Securities held for sale or to maturity	0.0	143	235
Cash and equivalents	100	179	64.8	-44.0%	+55.0%
Receivables	414	5.9	29.4	+6,879.1%	+1,310.0%
Other assets	527	41.6	39.3	+1,167.0%	+1,240.0%
Total assets	1,176	397	397	+196.4%	+196.1%

Questions

What was Zymeworks' revenue in Q3 FY2026?

Zymeworks (ZYME) reported revenue of $256 million for Q3 FY2026, the quarter ended 30 September 2026, up 828.7% on the same quarter a year earlier.

How much did Zymeworks earn in Q3 FY2026?

Net income for Q3 FY2026 was $174 million, and diluted earnings per share $2.28.

When did Zymeworks report Q3 FY2026 results?

Zymeworks filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	4.4	1.9	5.4	2.6	402	35.6	7.0	16.5	16.9	10.0	19.2	16.0	31.0	27.1	48.7	27.6	2.5	2.4	4.6	256
R&D	49.9	62.5	56.0	37.1	53.0	45.9	39.4	32.8	25.5	32.0	29.2	36.4	37.1	35.7	34.4	35.6	31.2	34.5	27.4	36.1
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	14.1	n/a	n/a	n/a	42.7
Operating income	-61.0	-72.7	-65.8	-50.4	319	-27.3	-54.1	-33.2	-23.4	-37.8	-42.9	-34.2	-22.2	-25.6	-0.7	-22.1	-44.2	-47.1	-42.2	178
Operating margin	-1387%	-3794%	-1210%	-1914%	79%	-77%	-773%	-201%	-138%	-377%	-223%	-214%	-72%	-94%	-1%	-80%	-1756%	-1957%	-919%	69%
Pre-tax income	-59.8	-72.7	-64.6	-47.9	320	-23.0	-49.5	-27.6	-19.2	-31.6	-37.6	-29.6	-17.8	-22.1	2.1	-18.3	-41.5	-46.4	-45.3	173
Tax rate	n/a	n/a	n/a	n/a	3%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-9%	n/a	n/a	n/a	n/a	-0%
Net income	-60.6	-72.6	-64.6	-47.8	309	-24.4	-51.2	-28.7	-14.5	-31.7	-37.7	-29.9	-23.5	-22.6	2.3	-19.6	-41.2	-44.2	-45.0	174
Net margin	-1378%	-3790%	-1187%	-1819%	77%	-68%	-731%	-174%	-86%	-316%	-196%	-187%	-76%	-83%	5%	-71%	-1639%	-1834%	-981%	68%
Diluted EPS	-$1.25	-$1.19	-$0.97	-$0.72	$4.65	-$0.37	-$0.76	-$0.41	-$0.20	-$0.42	-$0.49	-$0.39	-$0.31	-$0.30	$0.03	-$0.26	-$0.55	-$0.59	-$0.62	$2.28
Operating cash flow	n/a	-55.4	-54.8	-73.0	327	-83.2	-6.4	-42.7	14.0	-37.7	-25.0	-5.9	-41.5	-3.4	12.1	-31.4	-10.3	-45.7	-31.9	-24.0
Capital expenditure	n/a	4.2	2.7	1.0	0.3	0.4	0.8	0.9	0.4	0.2	0.6	0.9	0.3	0.0	0.5	0.4	0.6	0.2	0.0	0.1
Free cash flow	n/a	-59.6	-57.5	-74.0	327	-83.6	-7.2	-43.6	13.6	-37.9	-25.6	-6.8	-41.8	-3.4	11.6	-31.8	-10.8	-45.9	-31.9	-24.1
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	16.2	25.5	76.2	51.9	12.0
Shares outstanding	63m	64m	68m	62m	63m	64m	68m	68m	70m	71m	71m	70m	69m	70m	75m	75m	75m	73m	71m	71m
Filing	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.