Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 73

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 amortization period for intangible assets for commercial products and software was 9.2 years and 2.8 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 June 30,Six Months Ended June 30,2025202420252024Product revenue - gross116,530 106,611 228,863 199,723 Less: Rebates and sales returns(7,445)(6,505)(14,128)(12,468)Product revenue - net109,085 100,106 214,735 187,255 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 June 30,Six Months Ended June 30,2025202420252024ZEJULA41,042 44,999 90,571 90,500 VYVGART / VYVGART Hytrulo26,497 23,190 44,602 36,352 NUZYRA14,292 12,295 29,410 22,208 OPTUNE12,355 12,584 23,718 25,064 QINLOCK8,536 7,038 17,045 13,131 XACDURO4,622 — 5,739 — AUGTYRO1,399 — 3,025 — Other (i)342 — 625 — Product revenue - net109,085 100,106 214,735 187,255 (i)Other includes product candidates sold in patient programs prior to commercialization. Collaboration Revenue Collaboration revenue was $0.9 million and $1.7 million in the three and six months ended June 30, 2025, respectively, and $0.4 million in both the three and six months ended June 30, 2024 and related to promotional activities in mainland China.

11

Zai Lab Limited Notes to the unaudited condensed consolidated financial statements 

8. Income Tax 

No provision for income taxes has been accrued because the Company is