Wave Life Sciences Ltd.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $42.7M | $108.3M | $113.3M | $3.6M | $41.0M |
| Research and development | $182.8M | $159.7M | $130.0M | $115.9M | $121.9M |
| Operating expenses | $258.1M | $218.7M | $181.3M | $166.4M | $168.0M |
| Operating income | -$215.4M | -$110.4M | -$68.0M | -$162.7M | -$127.0M |
| Pretax income | -$204.4M | -$97.0M | -$58.2M | -$161.1M | -$122.4M |
| Income tax expense | $0 | $0 | -$677,000 | $681,000 | -$204,000 |
| Net income | -$204.4M | -$97.0M | -$57.5M | -$161.8M | -$122.2M |
| Balance Sheet | |||||
| Cash and equivalents | $602.1M | $302.1M | $200.4M | $88.5M | $150.6M |
| Current assets | $614.8M | $320.4M | $235.4M | $98.5M | $162.6M |
| Total assets | $638.5M | $352.2M | $274.9M | $146.4M | $207.0M |
| Current liabilities | $95.1M | $111.0M | $186.4M | $71.5M | $64.2M |
| Total liabilities | $112.3M | $134.8M | $227.4M | $183.6M | $166.6M |
| Stockholders' equity | $518.4M | $209.5M | $39.6M | -$45.1M | $32.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$187.5M | -$151.0M | -$19.4M | -$127.8M | -$89.0M |
| Depreciation and amortization | $3.4M | $3.9M | $5.0M | $6.6M | $7.5M |
| Stock-based compensation | $25.0M | $13.1M | $9.8M | $17.2M | $16.4M |
| Capital expenditure | $718,000 | $938,000 | $1.1M | $1.4M | $560,000 |
| Free cash flow | -$188.2M | -$152.0M | -$20.5M | -$129.1M | -$89.6M |
Shares outstanding 192.4M · Free float 40.8%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.