NASDAQ : WVE
Wave Life Sciences Ltd. — Financial statements
Healthcare · Biotechnology · Singapore
Last price 3.59 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 708.05M
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Financial statements
Wave Life Sciences Ltd. (WVE) reported revenue of 70.92M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 70.92M | 42.73M | 108.30M | 113.31M | 3.65M | 40.96M |
| Cost of Revenue | 205.39M | 182.78M | 159.68M | 130.01M | 115.86M | 121.88M |
| Gross Profit | -134.47M | -140.05M | -51.38M | -16.70M | -112.21M | -80.91M |
| Selling, General & Admin | 93.14M | 75.33M | 59.02M | 51.29M | 50.51M | 46.10M |
| Operating Expenses | 93.14M | 75.33M | 59.02M | 51.29M | 50.51M | 46.10M |
| Operating Income | -227.61M | -215.38M | -110.40M | -68.00M | -162.72M | -127.02M |
| Interest & Investment Income | 17.45M | 10.48M | 10.16M | 7.93M | 1.57M | 30.00K |
| Other Non Operating Income (Expenses) | -365.00K | 527.00K | 3.23M | 1.88M | 7.00K | 4.54M |
| Pretax Income | -210.53M | -204.38M | -97.01M | -58.19M | -161.14M | -122.45M |
| Income Tax Expense | -677.00K | 681.00K | -204.00K | |||
| Net Income | -210.53M | -204.38M | -97.01M | -57.51M | -161.82M | -122.25M |
| Net Income to Common | -210.53M | -204.38M | -97.01M | -57.51M | -161.82M | -122.25M |
| Shares Outstanding (Basic) | 197.18M | 168.65M | 138.28M | 106.10M | 78.86M | 51.83M |
| Shares Outstanding (Diluted) | 197.18M | 168.65M | 138.28M | 106.10M | 78.86M | 51.83M |
| EPS (Basic) | -1.07 | -1.21 | -0.70 | -0.54 | -2.05 | -2.36 |
| EPS (Diluted) | -1.07 | -1.21 | -0.70 | -0.54 | -2.05 | -2.36 |
| Free Cash Flow | -208.39M | -188.21M | -151.96M | -20.55M | -129.14M | -89.55M |
| Free Cash Flow Per Share | -1.06 | -1.12 | -1.10 | -0.19 | -1.64 | -1.73 |
| Gross Margin | -189.60% | -47.44% | -14.74% | -197.52% | ||
| Operating Margin | -320.94% | -504.09% | -101.94% | -60.01% | -4,459.30% | -310.07% |
| Profit Margin | -296.86% | -478.34% | -89.57% | -50.76% | -4,434.72% | -298.42% |
| Free Cash Flow Margin | -293.83% | -440.50% | -140.31% | -18.13% | -3,539.11% | -218.61% |
| EBITDA | -224.19M | -211.94M | -106.51M | -63.00M | -156.15M | -119.53M |
| EBITDA Margin | -98.34% | -55.60% | -291.80% | |||
| D&A For EBITDA | 3.42M | 3.44M | 3.90M | 5.00M | 6.57M | 7.48M |
| EBIT | -227.61M | -215.38M | -110.40M | -68.00M | -162.72M | -127.02M |
| EBIT Margin | -101.94% | -60.01% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 197.31M | 602.07M | 302.08M | 200.35M | 88.50M | 150.56M |
| Cash & Short-Term Investments | 430.75M | 602.07M | 302.08M | 200.35M | 88.50M | 150.56M |
| Receivables | 12.00M | 1.28M | 1.42M | 21.09M | ||
| Prepaid Expenses | 11.56M | 8.39M | 9.54M | 9.91M | 7.93M | 6.58M |
| Other Current Assets | 4.33M | 3.08M | 7.35M | 4.02M | 2.11M | 5.42M |
| Total Current Assets | 458.63M | 614.81M | 320.39M | 235.37M | 98.54M | 162.56M |
| Property, Plant & Equipment | 44.33M | 19.86M | 28.00M | 35.72M | 44.13M | 40.64M |
| Other Long-Term Assets | 4.71M | 3.82M | 3.81M | 3.85M | 3.72M | 3.80M |
| Total Assets | 507.93M | 638.50M | 352.21M | 274.95M | 146.39M | 207.01M |
| Accounts Payable | 19.30M | 15.70M | 16.26M | 12.84M | 16.91M | 7.28M |
| Accrued Expenses | 21.98M | 26.56M | 21.08M | 16.83M | 17.55M | 14.86M |
| Current Portion of Leases | 4.38M | 8.36M | 7.64M | 6.71M | 5.50M | 4.96M |
| Current Unearned Revenue | 9.11M | 44.44M | 65.97M | 150.06M | 31.56M | 37.10M |
| Total Current Liabilities | 54.76M | 95.06M | 110.95M | 186.44M | 71.52M | 64.20M |
| Long-Term Leases | 38.90M | 9.40M | 17.77M | 25.40M | 32.12M | 24.95M |
| Long-Term Unearned Revenue | 12.34M | 7.80M | 6.10M | 15.60M | 79.77M | 77.48M |
| Other Long-Term Liabilities | 190.00K | |||||
| Total Liabilities | 105.99M | 112.27M | 134.82M | 227.44M | 183.60M | 166.63M |
| Common Stock | 197.00K | 1.62B | 1.18B | 935.37M | 802.83M | 749.85M |
| Additional Paid-In Capital | 1.89B | 228.37M | 156.45M | 129.24M | 119.44M | 87.98M |
| Retained Earnings | -1.48B | -1.33B | -1.12B | -1.02B | -967.34M | -805.51M |
| Comprehensive Income & Other | -565.00K | -250.00K | -262.00K | -124.00K | -29.00K | 181.00K |
| Total Common Equity | 401.94M | 518.36M | 209.51M | 39.63M | -45.09M | 32.50M |
| Shareholders' Equity | 401.94M | 526.23M | 217.39M | 47.50M | -37.22M | 40.37M |
| Total Liabilities & Equity | 507.93M | 638.50M | 352.21M | 274.95M | 146.39M | 207.01M |
| Total Debt | 43.27M | 17.77M | 25.40M | 32.12M | 37.61M | 29.92M |
| Net Cash (Debt) | 387.74M | 584.30M | 276.67M | 168.23M | 50.88M | 120.65M |
| Net Cash Per Share | 1.97 | 3.46 | 2.00 | 1.59 | 0.65 | 2.33 |
| Filing Date Shares Outstanding | 197.23M | 188.25M | 153.49M | 122.28M | 98.10M | 60.84M |
| Total Common Shares Outstanding | 197.21M | 187.66M | 153.04M | 119.16M | 86.92M | 59.84M |
| Working Capital | 403.87M | 519.75M | 209.44M | 48.93M | 27.02M | 98.36M |
| Book Value Per Share | 2.04 | 2.76 | 1.37 | 0.33 | -0.52 | 0.54 |
| Tangible Book Value | 401.94M | 518.36M | 209.51M | 39.63M | -45.09M | 32.50M |
| Tangible Book Value Per Share | 2.04 | 2.76 | 1.37 | 0.33 | -0.52 | 0.54 |
| Machinery | 26.37M | 26.19M | 26.07M | 25.51M | 25.66M | |
| Construction In Progress | 598.00K | 349.00K | 294.00K | 318.00K | 28.00K | |
| Leasehold Improvements | 28.94M | 28.89M | 28.52M | 28.41M | 27.99M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -210.53M | -204.38M | -97.01M | -57.51M | -161.82M | -122.25M |
| Depreciation & Amortization | 9.23M | 8.85M | 8.66M | 9.21M | 10.11M | 9.84M |
| Loss (Gain) From Sale of Assets | 12.00K | |||||
| Stock-Based Compensation | 37.44M | 24.97M | 13.14M | 9.79M | 17.19M | 16.41M |
| Change in Accounts Receivable | -2.00M | 146.00K | 19.66M | -21.09M | 30.00M | |
| Change in Accounts Payable | 4.67M | -561.00K | 3.42M | -3.76M | 9.35M | -6.57M |
| Change in Unearned Revenue | -36.76M | -19.83M | -93.59M | 54.33M | -3.25M | -18.46M |
| Change in Other Net Operating Assets | -8.51M | 3.31M | -5.32M | -10.40M | 619.00K | 2.04M |
| Operating Cash Flow | -207.05M | -187.49M | -151.03M | -19.43M | -127.78M | -88.99M |
| Capital Expenditures | -1.34M | -718.00K | -938.00K | -1.11M | -1.36M | -560.00K |
| Sale of Property, Plant & Equipment | 106.00K | |||||
| Investing Cash Flow | -234.75M | -718.00K | -938.00K | -1.11M | -1.25M | -560.00K |
| Issuance of Common Stock | 396.05M | 441.30M | 239.81M | 132.53M | 52.92M | 55.83M |
| Other Financing Activities | 46.94M | 46.94M | 14.08M | 14.27M | ||
| Financing Cash Flow | 442.99M | 488.24M | 253.89M | 132.53M | 67.19M | 55.83M |
| Foreign Exchange Rate Adjustments | -66.00K | 12.00K | -138.00K | -95.00K | -210.00K | -208.00K |
| Net Cash Flow | 1.12M | 300.04M | 101.79M | 111.89M | -62.06M | -33.93M |
| Free Cash Flow | -208.39M | -188.21M | -151.96M | -20.55M | -129.14M | -89.55M |
| Free Cash Flow Margin | -293.83% | -440.50% | -140.31% | -18.13% | -3,539.11% | -218.61% |
| Free Cash Flow Per Share | -1.06 | -1.12 | -1.10 | -0.19 | -1.64 | -1.73 |
| Levered Free Cash Flow | -132.66M | -112.55M | -107.84M | 64.11M | -67.01M | -78.24M |
| Unlevered Free Cash Flow | -132.66M | -112.55M | -107.84M | 64.11M | -67.01M | -78.24M |
| Change in Working Capital | -42.59M | -16.94M | -75.82M | 19.08M | 6.72M | 7.01M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 707.07M | 3.11B | 1.89B | 601.65M | 608.37M | 184.73M |
| Enterprise Value | 319.32M | 2.94B | 1.61B | 503.24M | 532.84M | 95.29M |
| Last Close Price | 3.59 | 17.00 | 12.37 | 5.05 | 7.00 | 3.14 |
| PS Ratio | 9.98 | 72.81 | 17.42 | 5.31 | 166.72 | 4.51 |
| PB Ratio | 1.76 | 5.91 | 8.68 | 12.66 | -16.35 | 4.58 |
| P/TBV Ratio | 1.76 | 6.00 | 9.01 | 15.18 | 5.68 | |
| EV/Sales Ratio | 4.52 | 68.86 | 14.87 | 4.44 | 146.02 | 2.33 |
| Debt / Equity Ratio | 0.11 | 0.03 | 0.12 | 0.68 | -1.01 | 0.74 |
| Net Debt / Equity Ratio | -0.96 | -1.11 | -1.27 | -3.54 | 1.37 | -2.99 |
| Net Debt / EBITDA Ratio | 1.73 | 2.76 | 2.60 | 2.67 | 0.33 | 1.01 |
| Net Debt / FCF Ratio | 1.86 | 3.10 | 1.82 | 8.19 | 0.39 | 1.35 |
| Asset Turnover | 0.19 | 0.09 | 0.34 | 0.54 | 0.02 | 0.17 |
| Quick Ratio | 8.09 | 6.35 | 2.73 | 1.19 | 1.24 | 2.35 |
| Current Ratio | 8.38 | 6.47 | 2.89 | 1.26 | 1.38 | 2.53 |
| Return on Equity (ROE) | -78.80% | -54.97% | -73.24% | -1,118.17% | -10,258.19% | -186.60% |
| Return on Assets (ROA) | -37.97% | -27.18% | -22.00% | -20.17% | -57.56% | -32.65% |
| Return on Capital Employed (ROCE) | -50.20% | -39.60% | -45.80% | -76.80% | -217.40% | -88.90% |
| Earnings Yield | -29.78% | -6.57% | -5.14% | -9.56% | -26.60% | -66.17% |
| FCF Yield | -29.43% | -6.05% | -8.05% | -3.42% | -21.23% | -48.48% |
| Buyback Yield / Dilution | -20.23% | -21.96% | -30.33% | -34.55% | -52.16% | -32.12% |