WAVE Life Sciences (WVE) Financials

$8.80 +0.17 (+1.91%)

As of 03:42 PM Eastern

Annual Income Statements for WAVE Life Sciences

This table shows WAVE Life Sciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-5.23	-19	-56	-102	-147	-194	-321	-122	-162	-58	-97
Consolidated Net Income / (Loss)	-5.23	-19	-56	-102	-147	-194	-150	-122	-162	-58	-97
Net Income / (Loss) Continuing Operations	-5.23	-19	-56	-102	-147	-194	-321	-122	-162	-58	-97
Total Pre-Tax Income	-5.15	-19	-55	-101	-147	-194	-151	-122	-161	-58	-97
Total Operating Income	-5.39	-19	-56	-102	-160	-208	-153	-127	-163	-68	-110
Total Gross Profit	0.00	0.15	1.09	3.89	14	16	20	41	3.65	113	108
Total Revenue	0.00	0.15	1.09	3.89	14	16	20	41	3.65	113	108
Operating Revenue	0.00	0.15	1.09	3.89	14	16	20	41	3.65	113	108
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	5.39	19	57	106	174	224	347	168	166	181	219
Selling, General & Admin Expense	3.00	10	16	27	40	49	43	46	51	51	59
Research & Development Expense	2.40	9.06	41	79	134	175	131	122	116	130	160
Total Other Income / (Expense), net	0.25	0.14	0.54	1.25	13	15	5.25	4.57	1.58	9.81	13
Interest & Investment Income	-0.01	0.09	0.59	1.58	3.39	4.94	0.57	0.03	1.57	7.93	10
Other Income / (Expense), net	0.26	0.06	-0.05	-0.33	9.55	9.74	4.68	4.54	0.01	1.88	3.23
Income Tax Expense	0.08	0.04	0.48	0.84	0.07	0.00	-0.84	-0.20	0.68	-0.68	0.00
Basic Earnings per Share	($1.34)	($1.83)	($2.44)	($3.85)	($5.06)	($5.72)	($3.82)	($2.36)	($2.05)	($0.54)	($0.70)
Weighted Average Basic Shares Outstanding	3.91M	10.50M	22.80M	26.51M	28.97M	33.87M	39.23M	51.83M	78.86M	106.10M	138.28M
Diluted Earnings per Share	($1.34)	($1.83)	($2.44)	($3.85)	($5.06)	($5.72)	($3.82)	($2.36)	($2.05)	($0.54)	($0.70)
Weighted Average Diluted Shares Outstanding	3.91M	10.50M	22.80M	26.51M	28.97M	33.87M	39.23M	51.83M	78.86M	106.10M	138.28M
Weighted Average Basic & Diluted Shares Outstanding	3.91M	10.50M	22.80M	26.51M	28.97M	33.87M	39.23M	60.84M	98.10M	122.28M	153.49M

This table shows WAVE Life Sciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-44	-27	-21	7.00	-16	-32	-33	-62	29	-47	-50
Consolidated Net Income / (Loss)	-44	-27	-21	7.25	-16	-32	-33	-62	29	-47	-50
Net Income / (Loss) Continuing Operations	-44	-27	-21	7.25	-16	-32	-33	-62	29	-47	-50
Total Pre-Tax Income	-43	-27	-21	6.58	-16	-32	-33	-62	29	-47	-50
Total Operating Income	-44	-30	-23	4.44	-19	-34	-35	-64	23	-50	-53
Total Gross Profit	1.24	13	22	49	29	13	20	-7.68	84	9.18	8.70
Total Revenue	1.24	13	22	49	29	13	20	-7.68	84	9.18	8.70
Operating Revenue	1.24	13	22	49	29	13	20	-7.68	84	9.18	8.70
Total Cost of Revenue	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00
Total Operating Expenses	45	43	46	45	48	47	55	56	61	59	61
Selling, General & Admin Expense	14	12	12	13	14	14	14	15	16	18	18
Research & Development Expense	31	31	33	32	34	33	40	41	45	41	43
Total Other Income / (Expense), net	0.54	2.88	2.37	2.13	2.43	2.90	2.07	2.14	6.29	2.93	2.29
Interest & Investment Income	0.83	1.87	2.25	1.96	1.84	2.54	2.09	1.80	3.74	2.88	2.37
Other Income / (Expense), net	-0.29	1.01	0.12	0.17	0.58	0.37	-0.02	0.34	2.55	0.05	-0.08
Income Tax Expense	0.68	0.00	0.00	-0.68	-	0.00	0.00	0.00	-	0.00	0.00
Basic Earnings per Share	($0.39)	($0.27)	($0.20)	$0.07	($0.14)	($0.24)	($0.25)	($0.47)	$0.26	($0.29)	($0.31)
Weighted Average Basic Shares Outstanding	78.86M	102.06M	105.46M	106.03M	106.10M	129.27M	129.53M	132.56M	138.28M	162.53M	163.99M
Diluted Earnings per Share	($0.39)	($0.27)	($0.20)	$0.07	($0.14)	($0.24)	($0.25)	($0.47)	$0.26	($0.29)	($0.31)
Weighted Average Diluted Shares Outstanding	78.86M	102.06M	105.46M	106.98M	106.10M	129.27M	129.53M	132.56M	138.28M	162.53M	163.99M
Weighted Average Basic & Diluted Shares Outstanding	98.10M	98.37M	98.98M	99.05M	122.28M	122.46M	124.74M	152.52M	153.49M	154.13M	159.14M

This table details how cash moves in and out of WAVE Life Sciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	0.61	160	-8.38	-8.18	32	-28	37	-34	-62	112	102
Net Cash From Operating Activities	-4.43	-13	-32	-84	-23	-188	-116	-89	-128	-19	-151
Net Cash From Continuing Operating Activities	-4.43	-13	-32	-84	-23	-188	-116	-89	-128	-19	-151
Net Income / (Loss) Continuing Operations	-5.23	-19	-56	-102	-147	-194	-150	-122	-162	-58	-97
Consolidated Net Income / (Loss)	-5.23	-19	-56	-102	-147	-194	-150	-122	-162	-58	-97
Depreciation Expense	0.28	0.59	0.78	2.16	5.58	7.59	8.11	7.48	6.57	5.00	3.90
Amortization Expense	-	-	-	-0.21	-0.79	1.61	1.87	2.35	3.54	4.21	4.77
Non-Cash Adjustments To Reconcile Net Income	0.01	4.11	7.10	16	17	20	14	16	13	4.30	6.43
Changes in Operating Assets and Liabilities, net	0.51	1.97	16	0.42	102	-23	9.65	7.01	11	25	-69
Net Cash From Investing Activities	-0.26	-2.91	-5.56	-19	-9.94	-3.92	-1.34	-0.56	-1.26	-1.12	-0.94
Net Cash From Continuing Investing Activities	-0.26	-2.91	-5.56	-19	-9.94	-3.92	-1.34	-0.56	-1.26	-1.12	-0.94
Purchase of Property, Plant & Equipment	-0.59	-1.86	-5.57	-19	-9.94	-3.92	-1.34	-0.56	-1.36	-1.12	-0.94
Purchase of Investments	-	-	-	-	-	-	-	0.00	-75	0.00	0.00
Sale of Property, Plant & Equipment	0.01	-	0.00	-	-	-	-	0.00	0.11	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	0.00	75	0.00	0.00
Net Cash From Financing Activities	5.62	176	29	94	65	164	155	56	67	133	254
Net Cash From Continuing Financing Activities	5.62	176	29	94	65	164	155	0.86	67	133	254
Issuance of Debt	0.00	0.13	-	0.06	0.02	-	-	-	0.00	35	202
Issuance of Common Equity	5.59	113	30	94	60	162	154	0.61	66	94	29
Other Financing Activities, net	0.03	0.11	0.26	0.93	5.11	2.61	0.74	0.25	1.33	3.59	23

This table details how cash moves in and out of WAVE Life Sciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-8.45	120	-36	-33	60	-19	-27	157	-8.86	-59	-35
Net Cash From Operating Activities	-33	86	-37	-34	-33	-33	-27	-46	-44	-63	-46
Net Cash From Continuing Operating Activities	-33	86	-37	-34	-33	-33	-27	-46	-44	-63	-46
Net Income / (Loss) Continuing Operations	-44	-27	-21	7.25	-16	-32	-33	-62	29	-47	-50
Consolidated Net Income / (Loss)	-44	-27	-21	7.25	-16	-32	-33	-62	29	-47	-50
Depreciation Expense	1.51	1.43	1.29	1.20	1.08	1.04	1.00	0.95	0.91	0.88	0.87
Amortization Expense	0.98	1.01	1.03	1.07	1.10	1.14	1.17	1.21	1.25	1.29	1.33
Non-Cash Adjustments To Reconcile Net Income	1.94	1.75	3.41	2.28	-3.14	2.88	1.83	1.83	1.48	4.95	6.20
Changes in Operating Assets and Liabilities, net	5.84	109	-22	-46	-16	-6.93	1.46	11	-77	-23	-3.94
Net Cash From Investing Activities	25	-0.49	-0.07	-0.20	-0.36	-0.42	-0.05	-0.38	-0.09	-0.17	-0.31
Net Cash From Continuing Investing Activities	25	-0.49	-0.07	-0.20	-0.36	-0.42	-0.05	-0.38	-0.09	-0.17	-0.31
Purchase of Property, Plant & Equipment	-0.20	-0.49	-0.07	-0.20	-0.36	-0.42	-0.05	-0.38	-0.09	-0.17	-0.31
Net Cash From Financing Activities	0.06	35	1.85	1.67	94	15	0.65	204	35	4.16	12
Net Cash From Continuing Financing Activities	0.06	35	1.85	1.67	94	15	0.65	204	35	4.16	12
Issuance of Common Equity	-0.02	0.43	-	38	56	14	-	14	-0.02	1.70	11
Other Financing Activities, net	0.07	0.00	1.85	-1.73	3.47	0.12	0.65	15	7.15	2.45	0.59
Effect of Exchange Rate Changes	-	-	-	-	-	-0.07	-	-	-	0.06	0.04

This table presents WAVE Life Sciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2.94	165	165	182	296	284	279	207	146	275	352
Total Current Assets	1.49	161	152	150	202	185	230	163	99	235	320
Cash & Equivalents	1.05	161	150	143	175	147	184	151	88	200	302
Accounts Receivable	0.20	-	-	1.00	10	20	30	0.00	0.00	21	1.42
Prepaid Expenses	0.10	0.15	1.48	6.99	6.59	9.63	10	6.58	7.93	9.91	9.54
Other Current Assets	0.07	-	-	-	11	8.69	5.11	5.42	2.11	4.02	7.35
Plant, Property, & Equipment, net	1.27	2.79	8.61	27	40	36	29	22	17	13	10
Total Noncurrent Assets	0.18	1.25	4.21	4.02	54	62	20	22	31	26	22
Other Noncurrent Operating Assets	0.00	0.00	0.05	0.41	0.11	29	16	18	27	23	18
Other Noncurrent Nonoperating Assets	0.00	1.06	3.60	3.61	3.63	3.65	3.65	3.65	3.66	3.70	3.76
Total Liabilities & Shareholders' Equity	2.94	165	165	182	296	284	279	207	146	275	352
Total Liabilities	0.91	4.06	22	34	215	213	189	167	184	227	135
Total Current Liabilities	0.88	3.82	12	18	130	118	121	64	72	186	111
Accounts Payable	0.13	2.81	4.94	7.60	13	9.07	14	7.28	17	13	16
Accrued Expenses	0.61	0.95	4.43	8.90	15	16	12	15	18	17	21
Current Deferred Revenue	0.15	0.00	2.71	1.34	101	90	92	37	32	150	66
Other Current Liabilities	-	-	0.01	0.34	1.16	3.24	3.71	4.96	5.50	6.71	7.64
Total Noncurrent Liabilities	0.03	0.24	9.92	16	85	94	68	102	112	41	24
Noncurrent Deferred Revenue	-	0.00	8.99	11	73	63	41	77	80	16	6.10
Other Noncurrent Operating Liabilities	0.03	0.16	0.80	1.62	2.14	31	26	25	32	25	18
Redeemable Noncontrolling Interest	0.00	7.87	7.87	7.87	7.87	7.87	7.87	7.87	7.87	7.87	7.87
Total Equity & Noncontrolling Interests	2.03	153	135	140	73	64	83	32	-45	40	210
Total Preferred & Common Equity	2.03	153	135	140	73	64	83	32	-45	40	210
Total Common Equity	-5.85	153	135	140	73	64	83	32	-45	40	210
Common Stock	9.97	189	226	332	413	597	766	838	922	1,065	1,332
Retained Earnings	-16	-35	-90	-193	-340	-533	-683	-806	-967	-1,025	-1,122
Accumulated Other Comprehensive Income / (Loss)	0.06	0.04	-0.29	0.12	0.15	0.27	0.39	0.18	-0.03	-0.12	-0.26

This table presents WAVE Life Sciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	213	182	267	230	200	235	209	359	288	252
Total Current Assets	160	131	220	185	159	197	172	325	258	224
Cash & Equivalents	123	97	208	173	140	181	154	311	243	208
Accounts Receivable	-	-	-	-	7.00	0.00	1.29	0.00	0.00	1.62
Prepaid Expenses	5.40	7.42	9.23	9.01	7.51	11	12	11	8.06	6.70
Other Current Assets	6.56	2.02	2.80	2.72	4.12	4.71	4.68	3.00	6.84	6.76
Plant, Property, & Equipment, net	20	19	16	15	14	12	12	11	9.57	9.04
Total Noncurrent Assets	33	31	30	28	28	25	25	23	21	20
Other Noncurrent Operating Assets	30	28	26	25	24	22	21	19	17	16
Other Noncurrent Nonoperating Assets	3.65	3.65	4.66	3.67	3.68	3.72	3.73	3.75	3.77	3.78
Total Liabilities & Shareholders' Equity	213	182	267	230	200	235	209	359	288	252
Total Liabilities	174	178	294	274	233	202	204	209	109	105
Total Current Liabilities	64	64	133	140	100	166	173	171	87	87
Accounts Payable	11	16	12	12	13	12	18	13	14	15
Accrued Expenses	11	11	7.62	10	13	6.62	11	15	7.81	13
Current Deferred Revenue	37	32	107	111	68	141	137	136	57	52
Other Current Liabilities	4.36	4.93	6.08	6.29	6.50	6.94	7.16	7.40	7.88	8.14
Total Noncurrent Liabilities	110	114	162	134	133	36	31	38	21	18
Noncurrent Deferred Revenue	75	80	131	105	105	13	9.58	18	5.58	4.23
Other Noncurrent Operating Liabilities	35	34	31	29	27	24	22	20	16	14
Redeemable Noncontrolling Interest	7.87	7.87	7.87	7.87	7.87	7.87	7.87	7.87	7.87	7.87
Total Equity & Noncontrolling Interests	31	-4.52	-35	-52	-40	25	-3.48	142	172	139
Total Preferred & Common Equity	31	-4.52	-35	-52	-40	25	-3.48	142	172	139
Total Common Equity	31	-4.52	-35	-52	-40	25	-3.48	142	172	139
Common Stock	916	919	960	964	968	1,082	1,086	1,293	1,341	1,359
Retained Earnings	-885	-924	-995	-1,016	-1,009	-1,056	-1,089	-1,151	-1,169	-1,219
Accumulated Other Comprehensive Income / (Loss)	-0.05	-0.12	-0.05	-0.15	-0.18	-0.20	-0.28	-0.16	-0.20	-0.16

This table displays calculated financial ratios and metrics derived from WAVE Life Sciences' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	618.42%	256.50%	270.25%	10.89%	25.61%	104.03%	-91.09%	3,005.10%	-4.42%
EBITDA Growth	-48.79%	-284.34%	-194.86%	-83.27%	-44.07%	-30.44%	26.76%	18.79%	-35.47%	62.70%	-73.09%
EBIT Growth	-45.12%	-274.87%	-189.83%	-84.19%	-46.00%	-32.41%	25.12%	17.63%	-32.85%	59.37%	-62.09%
NOPAT Growth	-50.92%	-257.77%	-188.73%	-83.76%	-55.80%	-30.59%	26.37%	17.19%	-28.11%	58.21%	-62.37%
Net Income Growth	-57.59%	-267.18%	-189.90%	-83.22%	-43.81%	-32.04%	22.58%	18.45%	-32.38%	64.46%	-68.67%
EPS Growth	29.47%	-36.57%	-33.33%	-57.79%	-31.43%	-13.04%	33.22%	38.22%	13.14%	73.66%	-29.63%
Operating Cash Flow Growth	-24.64%	-183.03%	-154.85%	-162.09%	72.68%	-723.34%	38.38%	23.27%	-43.59%	84.79%	-677.24%
Free Cash Flow Firm Growth	0.00%	-147.32%	-145.00%	-202.38%	77.95%	-704.76%	42.39%	18.70%	-36.05%	79.27%	-611.76%
Invested Capital Growth	0.00%	-178.65%	-1,323.77%	140.87%	-2,063.29%	9.97%	-23.10%	-16.92%	-13.49%	-21.00%	43.50%
Revenue Q/Q Growth	0.00%	0.00%	34.98%	26.48%	21.21%	-7.09%	53.99%	-15.78%	-12.60%	32.54%	102.02%
EBITDA Q/Q Growth	0.00%	0.00%	-26.39%	-13.43%	-5.16%	-10.18%	18.06%	23.52%	-50.90%	30.89%	30.68%
EBIT Q/Q Growth	0.00%	0.00%	-26.29%	-13.67%	-5.44%	-10.27%	17.01%	22.03%	-46.22%	28.03%	28.93%
NOPAT Q/Q Growth	0.00%	0.00%	-26.53%	-13.60%	-12.55%	-5.89%	16.46%	-4.78%	-4.80%	26.79%	27.39%
Net Income Q/Q Growth	0.00%	0.00%	-26.37%	-13.44%	-5.08%	-10.81%	15.73%	39.57%	-142.05%	32.31%	31.93%
EPS Q/Q Growth	0.00%	0.00%	-16.75%	-8.45%	-3.48%	-6.92%	24.36%	-7.76%	9.29%	31.65%	36.36%
Operating Cash Flow Q/Q Growth	0.00%	-76.66%	-26.46%	-12.67%	-78.67%	-17.78%	20.46%	21.51%	-26.05%	1.02%	-7.40%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-11.92%	-376.13%	-11.14%	22.29%	26.84%	-29.43%	-83.71%	-23.94%
Invested Capital Q/Q Growth	0.00%	0.00%	0.05%	18.48%	3.75%	12.00%	6.16%	-26.98%	-5.75%	11.17%	46.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	-12,268.42%	-5,035.35%	-2,588.62%	-1,007.24%	-1,184.87%	-690.89%	-274.98%	-4,181.94%	-50.23%	-90.96%
Operating Margin	0.00%	-12,696.05%	-5,102.56%	-2,630.13%	-1,106.72%	-1,303.37%	-763.94%	-310.07%	-4,459.30%	-60.01%	-101.94%
EBIT Margin	0.00%	-12,659.21%	-5,107.14%	-2,638.63%	-1,040.47%	-1,242.44%	-740.61%	-298.99%	-4,459.11%	-58.35%	-98.96%
Profit (Net Income) Margin	0.00%	-12,631.58%	-5,097.07%	-2,619.57%	-1,017.43%	-1,211.52%	-746.68%	-298.42%	-4,434.72%	-50.76%	-89.57%
Tax Burden Percent	101.63%	100.23%	100.87%	100.83%	100.05%	100.00%	99.44%	99.83%	100.42%	98.84%	100.00%
Interest Burden Percent	100.23%	99.55%	98.94%	98.46%	97.74%	97.51%	101.38%	99.98%	99.03%	88.01%	90.52%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-12,926.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-12,919.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	12,903.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-257.97%	-23.50%	-36.61%	-70.28%	-128.25%	-253.41%	-184.78%	-186.60%	-10,258.19%	-1,118.17%	-73.24%
Cash Return on Invested Capital (CROIC)	-971.36%	0.00%	0.00%	-1,944.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-22.86%	-33.78%	-59.26%	-62.78%	-68.45%	-52.78%	-50.38%	-92.09%	-31.39%	-34.18%
Return on Assets (ROA)	0.00%	-22.81%	-33.71%	-58.84%	-61.39%	-66.75%	-53.21%	-50.28%	-91.58%	-27.30%	-30.94%
Return on Common Equity (ROCE)	744.12%	-21.24%	-34.71%	-66.46%	-119.42%	-227.29%	-166.85%	-164.17%	40,944.99%	593.60%	-68.89%
Return on Equity Simple (ROE_SIMPLE)	-257.97%	-12.51%	-41.27%	-73.05%	-199.94%	-303.83%	-181.10%	-376.16%	358.88%	-145.12%	-46.30%
Net Operating Profit after Tax (NOPAT)	-3.78	-14	-39	-72	-112	-146	-107	-89	-114	-48	-77
NOPAT Margin	0.00%	-8,887.24%	-3,571.79%	-1,841.09%	-774.71%	-912.36%	-534.76%	-217.05%	-3,121.51%	-42.01%	-71.36%
Net Nonoperating Expense Percent (NNEP)	-277.33%	-6.98%	-10.55%	-20.43%	-22.41%	-29.88%	-25.10%	-19.46%	-38.88%	-6.70%	-7.74%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	252.61%	-120.10%	-36.89%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	6,837.50%	1,464.65%	692.91%	274.10%	305.76%	211.73%	112.55%	1,384.30%	45.27%	54.50%
R&D to Revenue	0.00%	5,958.55%	3,737.91%	2,037.22%	932.62%	1,097.61%	652.21%	297.52%	3,175.01%	114.74%	147.44%
Operating Expenses to Revenue	0.00%	12,796.05%	5,202.56%	2,730.13%	1,206.72%	1,403.37%	1,727.89%	410.07%	4,559.30%	160.01%	201.94%
Earnings before Interest and Taxes (EBIT)	-5.13	-19	-56	-103	-150	-199	-149	-122	-163	-66	-107
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.85	-19	-55	-101	-145	-189	-139	-113	-153	-57	-99
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.24	4.55	6.99	16.89	4.31	4.64	5.68	0.00	12.62	9.00
Price to Tangible Book Value (P/TBV)	0.00	2.24	4.55	6.99	16.89	4.31	4.64	5.68	0.00	12.62	9.00
Price to Revenue (P/Rev)	0.00	2,261.48	562.16	250.56	85.93	17.20	19.12	4.51	166.70	4.41	17.42
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	188.33	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	1,253.55	431.92	216.78	74.99	8.48	10.32	1.03	144.61	2.72	14.70
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.02	0.11	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.02	0.11	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.52	-1.00	-1.04	-1.02	-1.37	-2.09	-2.09	-2.61	-78.14	-28.79	-1.92
Leverage Ratio	1.45	1.03	1.09	1.19	2.09	3.80	3.47	3.71	112.01	40.96	2.37
Compound Leverage Factor	1.45	1.03	1.07	1.18	2.04	3.70	3.52	3.71	110.93	36.05	2.14
Debt to Total Capital	0.00%	0.09%	0.14%	2.07%	10.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.04%	0.04%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.05%	0.09%	2.05%	10.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	388.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	4.88%	5.51%	5.23%	8.70%	11.00%	8.69%	19.50%	-21.16%	16.58%	3.62%
Common Equity to Total Capital	-288.46%	95.04%	94.36%	92.71%	81.08%	89.00%	91.31%	80.50%	121.16%	83.42%	96.38%
Debt to EBITDA	0.00	-0.01	0.00	-0.03	-0.06	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	8.64	2.73	1.38	1.14	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	-0.03	-0.06	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.01	-0.01	-0.04	-0.08	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	11.92	3.85	1.94	1.48	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-0.01	0.00	-0.04	-0.08	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	51.28	15.83	14.58	0.52	-3.82	-3.42	-5.97	-10.69	-4.07	3.95
Noncontrolling Interest Sharing Ratio	388.46%	9.64%	5.18%	5.43%	6.89%	10.30%	9.71%	12.02%	499.14%	153.09%	5.95%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.69	42.27	12.50	8.27	1.56	1.57	1.90	2.53	1.38	1.26	2.89
Quick Ratio	1.42	42.23	12.36	7.89	1.42	1.41	1.77	2.35	1.24	1.19	2.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4.75	-12	-29	-87	-19	-155	-89	-72	-99	-20	-145
Operating Cash Flow to CapEx	-768.40%	-674.58%	-573.88%	-443.01%	-230.05%	-4,804.26%	-8,668.31%	-15,891.61%	-10,181.75%	-1,742.69%	-16,100.85%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.01	0.02	0.06	0.06	0.07	0.17	0.02	0.54	0.35
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	2.62	1.07	0.80	0.00	0.00	0.00	9.62
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.07	0.19	0.22	0.43	0.42	0.61	1.59	0.18	7.46	9.33
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	139.27	342.55	454.50	0.00	0.00	0.00	37.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	139.27	342.55	454.50	0.00	0.00	0.00	37.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.98	-0.77	-11	4.48	-88	-79	-97	-114	-129	-157	-88
Invested Capital Turnover	0.00	1.45	-0.19	-1.20	-0.35	-0.19	-0.23	-0.39	-0.03	-0.79	-0.88
Increase / (Decrease) in Invested Capital	0.98	-1.75	-10	15	-92	8.77	-18	-16	-15	-27	68
Enterprise Value (EV)	0.00	191	472	844	1,081	136	207	42	528	308	1,592
Market Capitalization	0.00	344	614	975	1,239	275	384	185	608	500	1,887
Book Value per Share	($1.49)	$7.12	$5.74	$5.02	$2.49	$1.86	$1.70	$0.55	($0.52)	$0.40	$1.37
Tangible Book Value per Share	($1.49)	$7.12	$5.74	$5.02	$2.49	$1.86	$1.70	$0.55	($0.52)	$0.40	$1.37
Total Capital	2.03	162	143	151	90	72	91	40	-37	48	217
Total Debt	0.00	0.14	0.19	3.11	9.25	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.08	0.13	3.09	9.25	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1.05	-161	-150	-139	-166	-147	-184	-151	-88	-200	-302
Capital Expenditures (CapEx)	0.58	1.86	5.56	19	9.94	3.92	1.34	0.56	1.26	1.12	0.94
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.44	-3.59	-10	-10	-103	-80	-75	-52	-61	-151	-93
Debt-free Net Working Capital (DFNWC)	0.61	158	140	132	72	67	109	98	27	49	209
Net Working Capital (NWC)	0.61	158	140	132	72	67	109	98	27	49	209
Net Nonoperating Expense (NNE)	1.45	5.69	17	30	35	48	43	33	48	9.92	20
Net Nonoperating Obligations (NNO)	-1.05	-162	-154	-143	-169	-151	-188	-154	-92	-204	-306
Total Depreciation and Amortization (D&A)	0.28	0.59	0.78	1.95	4.79	9.20	9.98	9.84	10	9.21	8.66
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-2,363.16%	-952.01%	-261.75%	-711.72%	-499.52%	-376.03%	-127.43%	-1,684.87%	-133.64%	-85.54%
Debt-free Net Working Capital to Revenue	0.00%	103,702.63%	12,811.08%	3,398.74%	501.12%	421.22%	542.92%	240.12%	740.37%	43.19%	193.39%
Net Working Capital to Revenue	0.00%	103,661.84%	12,805.40%	3,398.33%	501.12%	421.22%	542.92%	240.12%	740.37%	43.19%	193.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.34)	($1.83)	($2.43)	($3.85)	($5.06)	($5.72)	($3.82)	($2.36)	($2.05)	($0.54)	($0.70)
Adjusted Weighted Average Basic Shares Outstanding	3.91M	21.55M	23.54M	27.99M	34.19M	34.54M	49.00M	60.84M	78.86M	106.10M	138.28M
Adjusted Diluted Earnings per Share	($1.34)	($1.83)	($2.43)	($3.85)	($5.06)	($5.72)	($3.82)	($2.36)	($2.05)	($0.54)	($0.70)
Adjusted Weighted Average Diluted Shares Outstanding	3.91M	21.55M	23.54M	27.99M	34.19M	34.54M	49.00M	60.84M	78.86M	106.10M	138.28M
Adjusted Basic & Diluted Earnings per Share	($1.34)	($1.83)	($2.43)	($3.85)	($5.06)	($5.72)	($3.82)	($2.36)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.91M	10.50M	22.80M	26.51M	28.97M	33.87M	39.23M	60.84M	98.10M	122.28M	153.49M
Normalized Net Operating Profit after Tax (NOPAT)	-3.78	-14	-39	-72	-112	-146	-107	-89	-114	-48	-77
Normalized NOPAT Margin	0.00%	-8,887.24%	-3,571.79%	-1,841.09%	-774.71%	-912.36%	-534.76%	-217.05%	-3,121.51%	-42.01%	-71.36%
Pre Tax Income Margin	0.00%	-12,602.63%	-5,052.93%	-2,597.95%	-1,016.96%	-1,211.52%	-750.86%	-298.92%	-4,416.06%	-51.36%	-89.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from WAVE Life Sciences' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-29.80%	638.80%	5,794.93%	17,168.07%	2,245.12%	-3.02%	-10.92%	-115.60%	188.23%	-26.82%	-55.82%
EBITDA Growth	-508.80%	24.02%	45.95%	118.59%	61.51%	-18.91%	-56.15%	-992.86%	273.83%	-49.11%	-54.20%
EBIT Growth	-678.61%	22.63%	43.61%	111.65%	58.73%	-16.45%	-49.93%	-1,477.64%	240.97%	-45.93%	-50.91%
NOPAT Growth	-20.64%	20.50%	44.33%	118.00%	57.12%	-13.78%	-49.09%	-1,012.78%	275.62%	-44.54%	-50.75%
Net Income Growth	-185.27%	27.53%	48.90%	118.59%	62.81%	-15.15%	-56.00%	-951.90%	279.95%	-48.55%	-53.29%
EPS Growth	35.00%	56.45%	67.74%	116.67%	64.10%	11.11%	-25.00%	-771.43%	285.71%	-20.83%	-24.00%
Operating Cash Flow Growth	-375.47%	314.49%	-29.27%	-34.36%	0.60%	-139.09%	26.27%	-34.89%	-31.32%	-88.56%	-67.51%
Free Cash Flow Firm Growth	-72.07%	1,150.48%	370.83%	1,001.14%	193.27%	-200.56%	-200.68%	-194.56%	-420.19%	-6.97%	-33.77%
Invested Capital Growth	-13.49%	-123.39%	-96.75%	-44.05%	-21.00%	36.63%	31.05%	6.16%	43.50%	55.88%	57.52%
Revenue Q/Q Growth	334.74%	943.50%	70.98%	122.63%	-40.96%	-56.85%	57.06%	-138.98%	1,191.04%	-89.04%	-5.19%
EBITDA Q/Q Growth	-11.78%	35.10%	21.64%	132.71%	-331.40%	-100.50%	-2.90%	-87.01%	145.05%	-271.98%	-6.42%
EBIT Q/Q Growth	-10.74%	33.24%	20.23%	119.76%	-492.20%	-88.36%	-2.70%	-81.57%	140.13%	-295.00%	-6.21%
NOPAT Q/Q Growth	-11.99%	30.48%	22.49%	129.83%	-366.80%	-84.44%	-1.56%	-82.63%	151.33%	-251.80%	-5.93%
Net Income Q/Q Growth	-12.06%	37.30%	22.99%	134.36%	-324.16%	-94.13%	-4.33%	-87.65%	147.35%	-260.25%	-7.66%
EPS Q/Q Growth	7.14%	30.77%	25.93%	135.00%	-300.00%	-71.43%	-4.17%	-88.00%	155.32%	-211.54%	-6.90%
Operating Cash Flow Q/Q Growth	-30.39%	355.75%	-143.56%	7.52%	3.53%	-0.58%	17.84%	-69.21%	6.09%	-44.43%	27.01%
Free Cash Flow Firm Q/Q Growth	-383.00%	837.84%	-16.69%	-36.70%	-76.03%	-895.46%	16.59%	40.54%	18.83%	-165.75%	-4.31%
Invested Capital Q/Q Growth	-5.75%	-85.69%	7.46%	20.72%	11.17%	2.75%	-0.69%	-7.88%	46.52%	24.06%	3.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%	100.00%	100.00%	100.00%
EBITDA Margin	-3,338.01%	-207.60%	-95.15%	13.98%	-54.78%	-254.55%	-166.78%	0.00%	33.04%	-518.68%	-582.19%
Operating Margin	-3,515.98%	-234.24%	-106.18%	9.03%	-64.30%	-274.83%	-177.72%	0.00%	27.42%	-542.82%	-606.50%
EBIT Margin	-3,539.39%	-226.45%	-105.65%	9.38%	-62.29%	-271.92%	-177.81%	0.00%	30.47%	-542.27%	-607.44%
Profit (Net Income) Margin	-3,527.76%	-211.97%	-95.47%	14.74%	-55.95%	-251.70%	-167.19%	0.00%	34.93%	-510.93%	-580.17%
Tax Burden Percent	101.58%	100.00%	100.00%	110.30%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	98.12%	93.60%	90.36%	142.47%	89.81%	92.56%	94.03%	97.17%	114.65%	94.22%	95.51%
Effective Tax Rate	0.00%	0.00%	0.00%	-10.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-10,258.19%	1,592.24%	5,222.77%	580.83%	-1,118.17%	-1,920.16%	372.56%	-243.82%	-73.24%	-105.50%	-171.41%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-73.09%	-15.45%	-17.43%	4.20%	-33.50%	-122.19%	-89.55%	0.00%	10.52%	-217.36%	-247.48%
Return on Assets (ROA)	-72.85%	-14.46%	-15.75%	6.61%	-30.09%	-113.11%	-84.20%	0.00%	12.06%	-204.80%	-236.37%
Return on Common Equity (ROCE)	40,944.99%	2,910.64%	21,590.55%	893.46%	593.60%	2,787.72%	521.28%	-210.98%	-68.89%	-97.70%	-153.60%
Return on Equity Simple (ROE_SIMPLE)	0.00%	436.18%	253.72%	209.87%	0.00%	-242.88%	2,113.46%	-100.62%	0.00%	-65.38%	0.00%
Net Operating Profit after Tax (NOPAT)	-30	-21	-16	4.90	-13	-24	-24	-45	23	-35	-37
NOPAT Margin	-2,461.19%	-163.97%	-74.33%	9.96%	-45.01%	-192.38%	-124.41%	0.00%	27.42%	-379.98%	-424.55%
Net Nonoperating Expense Percent (NNEP)	-10.72%	-3.78%	-2.83%	1.75%	-2.15%	-3.73%	-5.01%	-7.43%	2.47%	-5.56%	-7.32%
Return On Investment Capital (ROIC_SIMPLE)	67.63%	-	-	-	-33.00%	-	-	-	10.96%	-20.29%	-26.52%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	1,107.67%	94.63%	55.48%	26.68%	47.03%	108.06%	72.60%	0.00%	19.27%	200.08%	206.79%
R&D to Revenue	2,508.31%	239.61%	150.70%	64.29%	117.27%	266.77%	205.12%	0.00%	53.31%	442.75%	499.70%
Operating Expenses to Revenue	3,615.98%	334.24%	206.18%	90.97%	164.30%	374.83%	277.72%	0.00%	72.58%	642.82%	706.50%
Earnings before Interest and Taxes (EBIT)	-44	-29	-23	4.62	-18	-34	-35	-64	26	-50	-53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-41	-27	-21	6.88	-16	-32	-33	-61	28	-48	-51
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	12.62	29.72	0.00	7.22	9.00	7.22	7.19
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	12.62	29.72	0.00	7.22	9.00	7.22	7.19
Price to Revenue (P/Rev)	166.70	28.65	9.79	6.66	4.41	6.68	5.53	19.08	17.42	11.82	10.66
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	144.61	15.18	5.28	5.11	2.72	5.15	4.21	13.43	14.70	9.58	8.53
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	9.28	13.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-78.14	17.29	65.73	9.21	-28.79	-62.11	8.52	-3.92	-1.92	-2.03	-2.44
Leverage Ratio	112.01	-22.85	-88.22	-13.04	40.96	78.24	-11.12	4.78	2.37	2.46	3.04
Compound Leverage Factor	109.90	-21.39	-79.72	-18.57	36.79	72.42	-10.46	4.64	2.71	2.32	2.91
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-21.16%	-29.34%	-17.96%	-24.14%	16.58%	23.67%	179.08%	5.27%	3.62%	4.38%	5.35%
Common Equity to Total Capital	121.16%	129.34%	117.96%	124.14%	83.42%	76.33%	-79.08%	94.73%	96.38%	95.62%	94.65%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	-8.01	-4.26	-5.34	-4.74	-3.49	-3.89	-5.54	-1.48	5.20	1.68	-0.72
Noncontrolling Interest Sharing Ratio	499.14%	-82.80%	-313.39%	-53.83%	153.09%	245.18%	-39.92%	13.47%	5.95%	7.40%	10.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.66	1.32	1.59	1.26	1.19	0.99	1.90	2.89	2.95	2.56
Quick Ratio	1.24	1.57	1.23	1.47	1.19	1.09	0.90	1.82	2.74	2.78	2.40
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-15	111	93	59	14	-112	-94	-56	-45	-120	-125
Operating Cash Flow to CapEx	-16,392.16%	17,489.16%	-51,745.83%	-17,402.53%	-9,336.80%	-8,017.27%	-52,823.08%	-12,135.25%	-50,753.49%	-38,205.45%	-15,036.60%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.07	0.16	0.45	0.54	0.45	0.50	0.19	0.35	0.40	0.41
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.62	0.00	64.63
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.18	0.80	2.10	5.29	7.46	7.95	8.26	4.34	9.33	9.55	9.02
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	37.93	0.00	5.65
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	37.93	0.00	5.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-129	-240	-222	-176	-157	-152	-153	-165	-88	-67	-65
Invested Capital Turnover	-0.03	-0.09	-0.22	-0.57	-0.79	-0.58	-0.59	-0.31	-0.88	-0.96	-0.86
Increase / (Decrease) in Invested Capital	-15	-133	-109	-54	-27	88	69	11	68	85	88
Enterprise Value (EV)	528	225	193	437	308	581	465	720	1,592	1,005	801
Market Capitalization	608	425	358	569	500	754	611	1,023	1,887	1,240	1,002
Book Value per Share	($0.52)	($0.35)	($0.49)	($0.41)	$0.40	$0.21	($0.03)	$1.14	$1.37	$1.12	$0.90
Tangible Book Value per Share	($0.52)	($0.35)	($0.49)	($0.41)	$0.40	$0.21	($0.03)	$1.14	$1.37	$1.12	$0.90
Total Capital	-37	-27	-44	-33	48	33	4.40	150	217	180	147
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-88	-208	-173	-140	-200	-181	-154	-311	-302	-243	-208
Capital Expenditures (CapEx)	0.20	0.49	0.07	0.20	0.36	0.42	0.05	0.38	0.09	0.17	0.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-61	-121	-128	-81	-151	-150	-155	-157	-93	-72	-72
Debt-free Net Working Capital (DFNWC)	27	87	44	59	49	31	-1.05	154	209	171	136
Net Working Capital (NWC)	27	87	44	59	49	31	-1.05	154	209	171	136
Net Nonoperating Expense (NNE)	13	6.21	4.67	-2.35	3.18	7.44	8.43	17	-6.29	12	14
Net Nonoperating Obligations (NNO)	-92	-213	-178	-144	-204	-186	-158	-315	-306	-247	-212
Total Depreciation and Amortization (D&A)	2.50	2.44	2.32	2.26	2.18	2.18	2.17	2.16	2.16	2.16	2.20
Debt-free, Cash-free Net Working Capital to Revenue	-1,684.87%	-812.90%	-351.46%	-95.16%	-133.64%	-132.87%	-140.28%	-293.16%	-85.54%	-69.06%	-76.99%
Debt-free Net Working Capital to Revenue	740.37%	586.90%	121.67%	68.54%	43.19%	27.36%	-0.95%	286.86%	193.39%	162.58%	144.92%
Net Working Capital to Revenue	740.37%	586.90%	121.67%	68.54%	43.19%	27.36%	-0.95%	286.86%	193.39%	162.58%	144.92%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.39)	($0.27)	($0.20)	$0.07	($0.14)	($0.24)	($0.25)	($0.47)	$0.26	($0.29)	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	78.86M	102.06M	105.46M	106.03M	106.10M	129.27M	129.53M	132.56M	138.28M	162.53M	163.99M
Adjusted Diluted Earnings per Share	($0.39)	($0.27)	($0.20)	$0.07	($0.14)	($0.24)	($0.25)	($0.47)	$0.26	($0.29)	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	78.86M	102.06M	105.46M	106.98M	106.10M	129.27M	129.53M	132.56M	138.28M	162.53M	163.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	98.10M	98.37M	98.98M	99.05M	122.28M	122.46M	124.74M	152.52M	153.49M	154.13M	159.14M
Normalized Net Operating Profit after Tax (NOPAT)	-30	-21	-16	3.11	-13	-24	-24	-45	16	-35	-37
Normalized NOPAT Margin	-2,461.19%	-163.97%	-74.33%	6.32%	-45.01%	-192.38%	-124.41%	0.00%	19.20%	-379.98%	-424.55%
Pre Tax Income Margin	-3,472.80%	-211.97%	-95.47%	13.36%	-55.95%	-251.70%	-167.19%	0.00%	34.93%	-510.93%	-580.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

Wave Life Sciences (NASDAQ: WVE) continues to demonstrate substantial R&D investments over the past four years, characteristic of a biotech firm focused on product development and clinical advancements. Here’s an analysis of key trends derived from the recent and historical financial data:

Operating Revenue has grown from negligible levels in early 2022 to nearly $8.7 million in Q2 2025, indicating gradual progress towards commercialization and market acceptance.
The company maintains a strong cash and equivalents position, with $208.5 million reported at the end of Q2 2025, providing a solid liquidity buffer to support ongoing R&D and operations.
Issuance of common equity in recent quarters (e.g., $11 million in Q2 2025) shows continued investor support and ability to raise capital to fund development activities.
Total operating expenses remain elevated, with significant Research & Development expenses consistently exceeding $30 million per quarter, reflecting the company's investment in its pipeline but also contributing to net losses.
Total liabilities fluctuate but remain substantial due to deferred revenue and accrued expenses, consistent with the company's stage of operation and partnerships.
The company has reported consecutive net losses over the past four years, with a net loss of $50.5 million in Q2 2025, reflecting continued high spending relative to revenue generation and no profitability yet.
Negative retained earnings and fluctuating but generally negative shareholders' equity over the analyzed period indicate accumulated losses and ongoing funding needs.
Operating cash flow continues to be negative (e.g., -$46 million in Q2 2025), which signals cash burn from operations without positive operating cash inflows.
The lack of reported cost of revenue suggests that Wave Life Sciences is still in early commercialization or pre-commercial stages, limiting near-term profitability prospects.

Summary: Wave Life Sciences has demonstrated steady revenue growth and solid cash reserves bolstered by equity issuances, essential for a biotech entity investing heavily in R&D. However, the company continues to operate at a significant net loss with negative operating cash flow, reflecting the costly nature of drug development before commercial scale and profitability. Investors should be aware of the company’s ongoing cash burn and the need for continued financing, balanced against the promising revenue trajectory that may benefit from future commercial success or partnerships.

08/04/25 02:42 PMAI Generated. May Contain Errors.

Frequently Asked Questions About WAVE Life Sciences' Financials

When does WAVE Life Sciences' fiscal year end?

According to the most recent income statement we have on file, WAVE Life Sciences' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has WAVE Life Sciences' net income changed over the last 10 years?

WAVE Life Sciences' net income appears to be on an upward trend, with a most recent value of -$97.01 million in 2024, rising from -$5.23 million in 2014. The previous period was -$57.51 million in 2023. Check out WAVE Life Sciences' forecast to explore projected trends and price targets.

What is WAVE Life Sciences' operating income?

WAVE Life Sciences' total operating income in 2024 was -$110.40 million, based on the following breakdown:

Total Gross Profit: $108.30 million
Total Operating Expenses: $218.71 million

How has WAVE Life Sciences' revenue changed over the last 10 years?

Over the last 10 years, WAVE Life Sciences' total revenue changed from $0.00 in 2014 to $108.30 million in 2024, a change of 10,830,200,000.0%.

How much debt does WAVE Life Sciences have?

WAVE Life Sciences' total liabilities were at $134.82 million at the end of 2024, a 40.7% decrease from 2023, and a 14,698.9% increase since 2014.

How much cash does WAVE Life Sciences have?

In the past 10 years, WAVE Life Sciences' cash and equivalents has ranged from $1.05 million in 2014 to $302.08 million in 2024, and is currently $302.08 million as of their latest financial filing in 2024.

How has WAVE Life Sciences' book value per share changed over the last 10 years?

Over the last 10 years, WAVE Life Sciences' book value per share changed from -1.49 in 2014 to 1.37 in 2024, a change of -191.9%.

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This page (NASDAQ:WVE) was last updated on 8/4/2025 by MarketBeat.com Staff

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WAVE Life Sciences (WVE) Financials

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