Company: ZLAB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001704292-25-000024
Chunk: 80

Company: Zai Lab Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 respectively. The weighted-average remaining amortization period for intangible assets for commercial products and software was 8.8 years and 2.4 years, respectively.

7. Revenues 

Product Revenue, Net The Company’s product revenue is derived from the sales of its commercial products in Greater China. The table below presents the Company’s gross and net product revenue ($ in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Product revenue - gross127,103 107,678 355,965 307,401 Less: Rebates and sales returns(11,742)(5,831)(25,870)(18,299)Product revenue - net115,361 101,847 330,095 289,102 Sales rebates are offered to distributors in mainland China, and the amounts are recorded as a reduction of product revenue. Estimated rebates are determined based on contracted rates, sales volumes, and level of distributor inventories. The following table presents the Company’s net revenue by commercial program ($ in thousands): Three Months Ended September 30,Nine Months Ended September 30,2025202420252024ZEJULA42,432 48,227 133,002 138,727 VYVGART / VYVGART Hytrulo27,727 27,265 72,329 63,617 NUZYRA15,430 9,997 44,840 32,205 OPTUNE12,657 7,715 36,375 32,779 QINLOCK8,901 8,643 25,946 21,774 XACDURO6,445 — 12,184 — AUGTYRO1,677 — 4,702 — Other (i)92 — 717 — Product revenue - net115,361 101,847 330,095 289,102 (i)Other includes product candidates sold in patient programs prior to commercialization. Collaboration Revenue Collaboration revenue was $0.7 million and $2.5 million in the three and nine months ended September 30, 2025, respectively, and $0.4 million and $0.8 million in the three and nine months ended September 30, 2024, respectively, and related to promotional activities in mainland China.

11

Zai Lab Limited Notes to the unaudited condensed consolidated financial statements 

8. Income