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WAVE Life Sciences (WVE) Financials

WAVE Life Sciences logo
$4.51 +0.05 (+1.12%)
Closing price 04:00 PM Eastern
Extended Trading
$4.55 +0.04 (+0.91%)
As of 05:04 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for WAVE Life Sciences

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -19 -56 -102 -147 -194 -321 -122 -162 -58 -97 -204
Consolidated Net Income / (Loss)		 -19 -56 -102 -147 -194 -150 -122 -162 -58 -97 -204
Net Income / (Loss) Continuing Operations		 -19 -56 -102 -147 -194 -321 -122 -162 -58 -97 -204
Total Pre-Tax Income 		-19 -55 -101 -147 -194 -151 -122 -161 -58 -97 -204
Total Operating Income		 -19 -56 -102 -160 -208 -153 -127 -163 -68 -110 -215
Total Gross Profit		 0.15 1.09 3.89 14 16 20 41 3.65 113 108 43
Total Revenue		 0.15 1.09 3.89 14 16 20 41 3.65 113 108 43
Operating Revenue		 0.15 1.09 3.89 14 16 20 41 3.65 113 108 43
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		 19 57 106 174 224 347 168 166 181 219 258
Selling, General & Admin Expense		 10 16 27 40 49 43 46 51 51 59 75
Research & Development Expense		 9.06 41 79 134 175 131 122 116 130 160 183
Total Other Income / (Expense), net		 0.14 0.54 1.25 13 15 5.25 4.57 1.58 9.81 13 11
Interest & Investment Income		 0.09 0.59 1.58 3.39 4.94 0.57 0.03 1.57 7.93 10 10
Other Income / (Expense), net		 0.06 -0.05 -0.33 9.55 9.74 4.68 4.54 0.01 1.88 3.23 0.53
Income Tax Expense		 0.04 0.48 0.84 0.07 0.00 -0.84 -0.20 0.68 -0.68 0.00 0.00
Basic Earnings per Share		 ($1.83) ($2.44) ($3.85) ($5.06) ($5.72) ($3.82) ($2.36) ($2.05) ($0.54) ($0.70) ($1.21)
Weighted Average Basic Shares Outstanding		 10.50M 22.80M 26.51M 28.97M 33.87M 39.23M 51.83M 78.86M 106.10M 138.28M 168.65M
Diluted Earnings per Share		 ($1.83) ($2.44) ($3.85) ($5.06) ($5.72) ($3.82) ($2.36) ($2.05) ($0.54) ($0.70) ($1.21)
Weighted Average Diluted Shares Outstanding		 10.50M 22.80M 26.51M 28.97M 33.87M 39.23M 51.83M 78.86M 106.10M 138.28M 168.65M
Weighted Average Basic & Diluted Shares Outstanding		 10.50M 22.80M 26.51M 28.97M 33.87M 39.23M 60.84M 98.10M 122.28M 153.49M 188.25M

Quarterly Income Statements for WAVE Life Sciences

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -16 -32 -33 -62 29 -47 -50 -54 -53 -26 -69
Consolidated Net Income / (Loss)		 -16 -32 -33 -62 29 -47 -50 -54 -53 -26 -69
Net Income / (Loss) Continuing Operations		 -16 -32 -33 -62 29 -47 -50 -54 -53 -26 -69
Total Pre-Tax Income 		-16 -32 -33 -62 29 -47 -50 -54 -53 -26 -69
Total Operating Income		 -19 -34 -35 -64 23 -50 -53 -56 -56 -31 -74
Total Gross Profit		 29 13 20 -7.68 84 9.18 8.70 7.61 17 38 2.27
Total Revenue		 29 13 20 -7.68 84 9.18 8.70 7.61 17 38 2.27
Operating Revenue		 29 13 20 -7.68 84 9.18 8.70 7.61 17 38 2.27
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 48 47 55 56 61 59 61 64 74 70 76
Selling, General & Admin Expense		 14 14 14 15 16 18 18 18 21 22 25
Research & Development Expense		 34 33 40 41 45 41 43 46 53 47 51
Total Other Income / (Expense), net		 2.43 2.90 2.07 2.14 6.29 2.93 2.29 2.50 3.29 5.21 4.45
Interest & Investment Income		 1.84 2.54 2.09 1.80 3.74 2.88 2.37 2.18 3.05 5.29 4.72
Other Income / (Expense), net		 0.58 0.37 -0.02 0.34 2.55 0.05 -0.08 0.32 0.23 -0.08 -0.28
Income Tax Expense		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Basic Earnings per Share		 ($0.14) ($0.24) ($0.25) ($0.47) $0.26 ($0.29) ($0.31) ($0.32) ($0.29) ($0.13) ($0.34)
Weighted Average Basic Shares Outstanding		 106.10M 129.27M 129.53M 132.56M 138.28M 162.57M 163.99M 167.74M 168.65M 200.17M 204.01M
Diluted Earnings per Share		 ($0.14) ($0.24) ($0.25) ($0.47) $0.26 ($0.29) ($0.31) ($0.32) ($0.29) ($0.13) ($0.34)
Weighted Average Diluted Shares Outstanding		 106.10M 129.27M 129.53M 132.56M 138.28M 162.57M 163.99M 167.74M 168.65M 200.17M 204.01M
Weighted Average Basic & Diluted Shares Outstanding		 122.28M 122.46M 124.74M 152.52M 153.49M 154.13M 159.14M 167.18M 188.25M 192.38M 197.05M

Annual Cash Flow Statements for WAVE Life Sciences

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 160 -8.38 -8.18 32 -28 37 -34 -62 112 102 300
Net Cash From Operating Activities		 -13 -32 -84 -23 -188 -116 -89 -128 -19 -151 -187
Net Cash From Continuing Operating Activities		 -13 -32 -84 -23 -188 -116 -89 -128 -19 -151 -187
Net Income / (Loss) Continuing Operations		 -19 -56 -102 -147 -194 -150 -122 -162 -58 -97 -204
Consolidated Net Income / (Loss)		 -19 -56 -102 -147 -194 -150 -122 -162 -58 -97 -204
Depreciation Expense		 0.59 0.78 2.16 5.58 7.59 8.11 7.48 6.57 5.00 3.90 3.44
Amortization Expense		 - - -0.21 -0.79 1.61 1.87 2.35 3.54 4.21 4.77 5.41
Non-Cash Adjustments To Reconcile Net Income		 4.11 7.10 16 17 20 14 16 13 9.80 13 25
Changes in Operating Assets and Liabilities, net		 1.97 16 0.42 102 -23 9.65 7.01 11 19 -76 -17
Net Cash From Investing Activities		 -2.91 -5.56 -19 -9.94 -3.92 -1.34 -0.56 -1.26 -1.12 -0.94 -0.72
Net Cash From Continuing Investing Activities		 -2.91 -5.56 -19 -9.94 -3.92 -1.34 -0.56 -1.26 -1.12 -0.94 -0.72
Purchase of Property, Plant & Equipment		 -1.86 -5.57 -19 -9.94 -3.92 -1.34 -0.56 -1.36 -1.12 -0.94 -0.72
Purchase of Investments		 - - - - - - 0.00 -75 0.00 0.00 0.00
Sale of Property, Plant & Equipment		 - 0.00 - - - - 0.00 0.11 0.00 0.00 0.00
Sale and/or Maturity of Investments		 - - - - - - 0.00 75 0.00 0.00 0.00
Net Cash From Financing Activities		 176 29 94 65 164 155 56 67 133 254 488
Net Cash From Continuing Financing Activities		 176 29 94 65 164 155 0.86 67 133 254 488
Issuance of Debt		 0.13 - 0.06 0.02 - - - 0.00 35 0.00 0.00
Issuance of Common Equity		 113 30 94 60 162 154 0.61 66 97 251 473
Other Financing Activities, net		 0.11 0.26 0.93 5.11 2.61 0.74 0.25 1.33 0.51 2.98 15
Effect of Exchange Rate Changes		 - - - - - - -0.21 - -0.10 -0.14 0.01

Quarterly Cash Flow Statements for WAVE Life Sciences

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 60 -19 -27 157 -8.86 -59 -35 -12 406 -57 -177
Net Cash From Operating Activities		 -33 -33 -27 -46 -44 -63 -46 -45 -34 -60 -54
Net Cash From Continuing Operating Activities		 -33 -33 -27 -46 -44 -63 -46 -45 -34 -60 -54
Net Income / (Loss) Continuing Operations		 -16 -32 -33 -62 29 -47 -50 -54 -53 -26 -69
Consolidated Net Income / (Loss)		 -16 -32 -33 -62 29 -47 -50 -54 -53 -26 -69
Depreciation Expense		 1.08 1.04 1.00 0.95 0.91 0.88 0.87 0.86 0.84 0.84 0.86
Amortization Expense		 1.10 1.14 1.17 1.21 1.25 1.29 1.33 1.37 1.42 1.46 1.45
Non-Cash Adjustments To Reconcile Net Income		 -3.14 2.88 1.83 1.83 1.48 4.95 6.20 6.47 7.35 9.06 11
Changes in Operating Assets and Liabilities, net		 -16 -6.93 1.46 11 -77 -23 -3.94 0.48 9.79 -45 2.74
Net Cash From Investing Activities		 -0.36 -0.42 -0.05 -0.38 -0.09 -0.17 -0.31 -0.25 0.00 -0.44 -123
Net Cash From Continuing Investing Activities		 -0.36 -0.42 -0.05 -0.38 -0.09 -0.17 -0.31 -0.25 0.00 -0.44 -123
Purchase of Property, Plant & Equipment		 -0.36 -0.42 -0.05 -0.38 -0.09 -0.17 -0.31 -0.25 0.00 -0.44 -0.88
Net Cash From Financing Activities		 94 15 0.65 204 35 4.16 12 33 440 2.53 0.33
Net Cash From Continuing Financing Activities		 94 15 0.65 204 35 4.16 12 33 440 2.53 0.33
Other Financing Activities, net		 3.47 0.12 0.65 15 7.15 2.45 0.59 2.04 9.78 1.93 0.33
Effect of Exchange Rate Changes		 - -0.07 - - - 0.06 0.04 -0.03 -0.06 -0.00 0.12

Annual Balance Sheets for WAVE Life Sciences

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 165 165 182 296 284 279 207 146 275 352 638
Total Current Assets		 161 152 150 202 185 230 163 99 235 320 615
Cash & Equivalents		 161 150 143 175 147 184 151 88 200 302 602
Short-Term Investments		 - - - - - - - - - - 0.00
Accounts Receivable		 - - 1.00 10 20 30 0.00 0.00 21 1.42 1.28
Prepaid Expenses		 0.15 1.48 6.99 6.59 9.63 10 6.58 7.93 9.91 9.54 8.40
Other Current Assets		 - - - 11 8.69 5.11 5.42 2.11 4.02 7.35 3.08
Plant, Property, & Equipment, net		 2.79 8.61 27 40 36 29 22 17 13 10 7.41
Total Noncurrent Assets		 1.25 4.21 4.02 54 62 20 22 31 26 22 16
Other Noncurrent Operating Assets		 0.00 0.05 0.41 0.11 29 16 18 27 23 18 12
Other Noncurrent Nonoperating Assets		 1.06 3.60 3.61 3.63 3.65 3.65 3.65 3.66 3.70 3.76 3.81
Total Liabilities & Shareholders' Equity		 165 165 182 296 284 279 207 146 275 352 638
Total Liabilities		 4.06 22 34 215 213 189 167 184 227 135 112
Total Current Liabilities		 3.82 12 18 130 118 121 64 72 186 111 95
Accounts Payable		 2.81 4.94 7.60 13 9.07 14 7.28 17 13 16 16
Accrued Expenses		 0.95 4.43 8.90 15 16 12 15 18 17 21 27
Current Deferred Revenue		 0.00 2.71 1.34 101 90 92 37 32 150 66 44
Other Current Liabilities		 - 0.01 0.34 1.16 3.24 3.71 4.96 5.50 6.71 7.64 8.36
Total Noncurrent Liabilities		 0.24 9.92 16 85 94 68 102 112 41 24 17
Noncurrent Deferred Revenue		 0.00 8.99 11 73 63 41 77 80 16 6.10 7.80
Other Noncurrent Operating Liabilities		 0.16 0.80 1.62 2.14 31 26 25 32 25 18 9.41
Redeemable Noncontrolling Interest		 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87
Total Equity & Noncontrolling Interests		 153 135 140 73 64 83 32 -45 40 210 518
Total Preferred & Common Equity		 153 135 140 73 64 83 32 -45 40 210 518
Total Common Equity		 153 135 140 73 64 83 32 -45 40 210 518
Common Stock		 189 226 332 413 597 766 838 922 1,065 1,332 1,845
Retained Earnings		 -35 -90 -193 -340 -533 -683 -806 -967 -1,025 -1,122 -1,326
Accumulated Other Comprehensive Income / (Loss)		 0.04 -0.29 0.12 0.15 0.27 0.39 0.18 -0.03 -0.12 -0.26 -0.25

Quarterly Balance Sheets for WAVE Life Sciences

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 267 230 200 235 209 359 288 252 241 584 558
Total Current Assets		 220 185 159 197 172 325 258 224 215 561 508
Cash & Equivalents		 208 173 140 181 154 311 243 208 196 545 368
Short-Term Investments		 - - - - - - - - - - 123
Accounts Receivable		 - - 7.00 0.00 1.29 0.00 0.00 1.62 10 0.00 0.89
Prepaid Expenses		 9.23 9.01 7.51 11 12 11 8.06 6.70 6.65 13 12
Other Current Assets		 2.80 2.72 4.12 4.71 4.68 3.00 6.84 6.76 2.62 3.46 3.90
Plant, Property, & Equipment, net		 16 15 14 12 12 11 9.57 9.04 8.20 7.08 6.83
Total Noncurrent Assets		 30 28 28 25 25 23 21 20 18 15 44
Other Noncurrent Operating Assets		 26 25 24 22 21 19 17 16 14 11 40
Other Noncurrent Nonoperating Assets		 4.66 3.67 3.68 3.72 3.73 3.75 3.77 3.78 3.80 3.82 3.82
Total Liabilities & Shareholders' Equity		 267 230 200 235 209 359 288 252 241 584 558
Total Liabilities		 294 274 233 202 204 209 109 105 109 72 105
Total Current Liabilities		 133 140 100 166 173 171 87 87 86 50 51
Accounts Payable		 12 12 13 12 18 13 14 15 14 19 20
Accrued Expenses		 7.62 10 13 6.62 11 15 7.81 13 16 13 18
Current Deferred Revenue		 107 111 68 141 137 136 57 52 47 9.40 8.70
Other Current Liabilities		 6.08 6.29 6.50 6.94 7.16 7.40 7.88 8.14 8.39 8.33 3.51
Total Noncurrent Liabilities		 162 134 133 36 31 38 21 18 23 22 54
Noncurrent Deferred Revenue		 131 105 105 13 9.58 18 5.58 4.23 12 15 14
Other Noncurrent Operating Liabilities		 31 29 27 24 22 20 16 14 11 7.39 40
Redeemable Noncontrolling Interest		 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87 7.87 0.00 0.00
Total Equity & Noncontrolling Interests		 -35 -52 -40 25 -3.48 142 172 139 125 512 454
Total Preferred & Common Equity		 -35 -52 -40 25 -3.48 142 172 139 125 512 454
Total Common Equity		 -35 -52 -40 25 -3.48 142 172 139 125 512 454
Common Stock		 960 964 968 1,082 1,086 1,293 1,341 1,359 1,398 1,864 1,875
Retained Earnings		 -995 -1,016 -1,009 -1,056 -1,089 -1,151 -1,169 -1,219 -1,273 -1,352 -1,422
Accumulated Other Comprehensive Income / (Loss)		 -0.05 -0.15 -0.18 -0.20 -0.28 -0.16 -0.20 -0.16 -0.19 -0.25 -0.17

Annual Metrics And Ratios for WAVE Life Sciences

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 618.42% 256.50% 270.25% 10.89% 25.61% 104.03% -91.09% 3,005.10% -4.42% -60.55%
EBITDA Growth		 -284.34% -194.86% -83.27% -44.07% -30.44% 26.76% 18.79% -35.47% 62.70% -73.09% -109.12%
EBIT Growth		 -274.87% -189.83% -84.19% -46.00% -32.41% 25.12% 17.63% -32.85% 59.37% -62.09% -100.48%
NOPAT Growth		 -257.77% -188.73% -83.76% -55.80% -30.59% 26.37% 17.19% -28.11% 58.21% -62.37% -95.09%
Net Income Growth		 -267.18% -189.90% -83.22% -43.81% -32.04% 22.58% 18.45% -32.38% 64.46% -68.67% -110.68%
EPS Growth		 -36.57% -33.33% -57.79% -31.43% -13.04% 33.22% 38.22% 13.14% 73.66% -29.63% -72.86%
Operating Cash Flow Growth		 -183.03% -154.85% -162.09% 72.68% -723.34% 38.38% 23.27% -43.59% 84.79% -677.24% -24.15%
Free Cash Flow Firm Growth		 -147.32% -145.00% -202.38% 77.95% -704.76% 42.39% 18.70% -36.05% 79.27% -611.76% -9.76%
Invested Capital Growth		 -178.65% -1,323.77% 140.87% -2,063.29% 9.97% -23.10% -16.92% -13.49% -21.00% 43.50% 9.96%
Revenue Q/Q Growth		 0.00% 34.98% 26.48% 21.21% -7.09% 53.99% -15.78% -12.60% 32.54% 102.02% -60.88%
EBITDA Q/Q Growth		 0.00% -26.39% -13.43% -5.16% -10.18% 18.06% 23.52% -50.90% 30.89% 30.68% -65.65%
EBIT Q/Q Growth		 0.00% -26.29% -13.67% -5.44% -10.27% 17.01% 22.03% -46.22% 28.03% 28.93% -61.41%
NOPAT Q/Q Growth		 0.00% -26.53% -13.60% -12.55% -5.89% 16.46% -4.78% -4.80% 26.79% 27.39% -58.43%
Net Income Q/Q Growth		 0.00% -26.37% -13.44% -5.08% -10.81% 15.73% 39.57% -142.05% 32.31% 31.93% -67.60%
EPS Q/Q Growth		 0.00% -16.75% -8.45% -3.48% -6.92% 24.36% -7.76% 9.29% 31.65% 36.36% -83.33%
Operating Cash Flow Q/Q Growth		 -76.66% -26.46% -12.67% -78.67% -17.78% 20.46% 21.51% -26.05% 1.02% -7.40% 5.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -11.92% -376.13% -11.14% 22.29% 26.84% -29.43% -83.71% -23.94% 17.30%
Invested Capital Q/Q Growth		 0.00% 0.05% 18.48% 3.75% 12.00% 6.16% -26.98% -5.75% 11.17% 46.52% -17.83%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -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% -482.14%
Operating Margin		 -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% -504.09%
EBIT Margin		 -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% -502.86%
Profit (Net Income) Margin		 -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% -478.33%
Tax Burden Percent		 100.23% 100.87% 100.83% 100.05% 100.00% 99.44% 99.83% 100.42% 98.84% 100.00% 100.00%
Interest Burden Percent		 99.55% 98.94% 98.46% 97.74% 97.51% 101.38% 99.98% 99.03% 88.01% 90.52% 95.12%
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)		 -12,926.89% 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)		 -12,919.91% 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)		 12,903.39% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -23.50% -36.61% -70.28% -128.25% -253.41% -184.78% -186.60% -10,258.19% -1,118.17% -73.24% -54.97%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -1,944.16% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -22.86% -33.78% -59.26% -62.78% -68.45% -52.78% -50.38% -92.09% -31.39% -34.18% -43.37%
Return on Assets (ROA)		 -22.81% -33.71% -58.84% -61.39% -66.75% -53.21% -50.28% -91.58% -27.30% -30.94% -41.26%
Return on Common Equity (ROCE)		 -21.24% -34.71% -66.46% -119.42% -227.29% -166.85% -164.17% 40,944.99% 593.60% -68.89% -53.80%
Return on Equity Simple (ROE_SIMPLE)		 -12.51% -41.27% -73.05% -199.94% -303.83% -181.10% -376.16% 358.88% -145.12% -46.30% 0.00%
Net Operating Profit after Tax (NOPAT)		 -14 -39 -72 -112 -146 -107 -89 -114 -48 -77 -151
NOPAT Margin		 -8,887.24% -3,571.79% -1,841.09% -774.71% -912.36% -534.76% -217.05% -3,121.51% -42.01% -71.36% -352.86%
Net Nonoperating Expense Percent (NNEP)		 -6.98% -10.55% -20.43% -22.41% -29.88% -25.10% -19.46% -38.88% -6.70% -7.74% -11.76%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 252.61% -120.10% -36.89% -29.09%
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		 6,837.50% 1,464.65% 692.91% 274.10% 305.76% 211.73% 112.55% 1,384.30% 45.27% 54.50% 176.31%
R&D to Revenue		 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% 427.78%
Operating Expenses to Revenue		 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% 604.09%
Earnings before Interest and Taxes (EBIT)		 -19 -56 -103 -150 -199 -149 -122 -163 -66 -107 -215
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -19 -55 -101 -145 -189 -139 -113 -153 -57 -99 -206
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.24 4.55 6.99 16.89 4.31 4.64 5.68 0.00 12.62 9.00 5.48
Price to Tangible Book Value (P/TBV)		 2.24 4.55 6.99 16.89 4.31 4.64 5.68 0.00 12.62 9.00 5.48
Price to Revenue (P/Rev)		 2,261.48 562.16 250.56 85.93 17.20 19.12 4.51 166.70 4.41 17.42 66.52
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 0.00 188.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1,253.55 431.92 216.78 74.99 8.48 10.32 1.03 144.61 2.72 14.70 52.61
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 0.02 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.02 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.00 -1.04 -1.02 -1.37 -2.09 -2.09 -2.61 -78.14 -28.79 -1.92 -1.23
Leverage Ratio		 1.03 1.09 1.19 2.09 3.80 3.47 3.71 112.01 40.96 2.37 1.33
Compound Leverage Factor		 1.03 1.07 1.18 2.04 3.70 3.52 3.71 110.93 36.05 2.14 1.27
Debt to Total Capital		 0.09% 0.14% 2.07% 10.22% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.04% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.05% 0.09% 2.05% 10.22% 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		 4.88% 5.51% 5.23% 8.70% 11.00% 8.69% 19.50% -21.16% 16.58% 3.62% 1.50%
Common Equity to Total Capital		 95.04% 94.36% 92.71% 81.08% 89.00% 91.31% 80.50% 121.16% 83.42% 96.38% 98.50%
Debt to EBITDA		 -0.01 0.00 -0.03 -0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 8.64 2.73 1.38 1.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 -0.03 -0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.01 -0.01 -0.04 -0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 11.92 3.85 1.94 1.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -0.01 0.00 -0.04 -0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 51.28 15.83 14.58 0.52 -3.82 -3.42 -5.97 -10.69 -4.07 3.95 12.21
Noncontrolling Interest Sharing Ratio		 9.64% 5.18% 5.43% 6.89% 10.30% 9.71% 12.02% 499.14% 153.09% 5.95% 2.12%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 42.27 12.50 8.27 1.56 1.57 1.90 2.53 1.38 1.26 2.89 6.47
Quick Ratio		 42.23 12.36 7.89 1.42 1.41 1.77 2.35 1.24 1.19 2.74 6.35
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -12 -29 -87 -19 -155 -89 -72 -99 -20 -145 -160
Operating Cash Flow to CapEx		 -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% -26,113.23%
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 0.01 0.02 0.06 0.06 0.07 0.17 0.02 0.54 0.35 0.09
Accounts Receivable Turnover		 0.00 0.00 0.00 2.62 1.07 0.80 0.00 0.00 0.00 9.62 31.67
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		 0.07 0.19 0.22 0.43 0.42 0.61 1.59 0.18 7.46 9.33 4.87
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 0.00 139.27 342.55 454.50 0.00 0.00 0.00 37.93 11.52
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 0.00 139.27 342.55 454.50 0.00 0.00 0.00 37.93 11.52
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.77 -11 4.48 -88 -79 -97 -114 -129 -157 -88 -80
Invested Capital Turnover		 1.45 -0.19 -1.20 -0.35 -0.19 -0.23 -0.39 -0.03 -0.79 -0.88 -0.51
Increase / (Decrease) in Invested Capital		 -1.75 -10 15 -92 8.77 -18 -16 -15 -27 68 8.81
Enterprise Value (EV)		 191 472 844 1,081 136 207 42 528 308 1,592 2,248
Market Capitalization		 344 614 975 1,239 275 384 185 608 500 1,887 2,842
Book Value per Share		 $7.12 $5.74 $5.02 $2.49 $1.86 $1.70 $0.55 ($0.52) $0.40 $1.37 $3.10
Tangible Book Value per Share		 $7.12 $5.74 $5.02 $2.49 $1.86 $1.70 $0.55 ($0.52) $0.40 $1.37 $3.10
Total Capital		 162 143 151 90 72 91 40 -37 48 217 526
Total Debt		 0.14 0.19 3.11 9.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.08 0.13 3.09 9.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -161 -150 -139 -166 -147 -184 -151 -88 -200 -302 -602
Capital Expenditures (CapEx)		 1.86 5.56 19 9.94 3.92 1.34 0.56 1.26 1.12 0.94 0.72
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.59 -10 -10 -103 -80 -75 -52 -61 -151 -93 -82
Debt-free Net Working Capital (DFNWC)		 158 140 132 72 67 109 98 27 49 209 520
Net Working Capital (NWC)		 158 140 132 72 67 109 98 27 49 209 520
Net Nonoperating Expense (NNE)		 5.69 17 30 35 48 43 33 48 9.92 20 54
Net Nonoperating Obligations (NNO)		 -162 -154 -143 -169 -151 -188 -154 -92 -204 -306 -606
Total Depreciation and Amortization (D&A)		 0.59 0.78 1.95 4.79 9.20 9.98 9.84 10 9.21 8.66 8.85
Debt-free, Cash-free Net Working Capital to Revenue		 -2,363.16% -952.01% -261.75% -711.72% -499.52% -376.03% -127.43% -1,684.87% -133.64% -85.54% -192.66%
Debt-free Net Working Capital to Revenue		 103,702.63% 12,811.08% 3,398.74% 501.12% 421.22% 542.92% 240.12% 740.37% 43.19% 193.39% 1,216.44%
Net Working Capital to Revenue		 103,661.84% 12,805.40% 3,398.33% 501.12% 421.22% 542.92% 240.12% 740.37% 43.19% 193.39% 1,216.44%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.83) ($2.43) ($3.85) ($5.06) ($5.72) ($3.82) ($2.36) ($2.05) ($0.54) ($0.70) ($1.21)
Adjusted Weighted Average Basic Shares Outstanding		 21.55M 23.54M 27.99M 34.19M 34.54M 49.00M 60.84M 78.86M 106.10M 138.28M 168.65M
Adjusted Diluted Earnings per Share		 ($1.83) ($2.43) ($3.85) ($5.06) ($5.72) ($3.82) ($2.36) ($2.05) ($0.54) ($0.70) ($1.21)
Adjusted Weighted Average Diluted Shares Outstanding		 21.55M 23.54M 27.99M 34.19M 34.54M 49.00M 60.84M 78.86M 106.10M 138.28M 168.65M
Adjusted Basic & Diluted Earnings per Share		 ($1.83) ($2.43) ($3.85) ($5.06) ($5.72) ($3.82) ($2.36) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 10.50M 22.80M 26.51M 28.97M 33.87M 39.23M 60.84M 98.10M 122.28M 153.49M 188.25M
Normalized Net Operating Profit after Tax (NOPAT)		 -14 -39 -72 -112 -146 -107 -89 -114 -48 -77 -151
Normalized NOPAT Margin		 -8,887.24% -3,571.79% -1,841.09% -774.71% -912.36% -534.76% -217.05% -3,121.51% -42.01% -71.36% -352.86%
Pre Tax Income Margin		 -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% -478.33%
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%

Quarterly Metrics And Ratios for WAVE Life Sciences

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 188,254,954.00 192,379,977.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 188,254,954.00 192,379,977.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.14 -0.36
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 2,245.12% -3.02% -10.92% -115.60% 188.23% -26.82% -55.82% 199.11% -79.41% 316.85% -73.88%
EBITDA Growth		 61.51% -18.91% -56.15% -992.86% 273.83% -49.11% -54.20% 12.41% -295.05% 38.91% -41.72%
EBIT Growth		 58.73% -16.45% -49.93% -1,477.64% 240.97% -45.93% -50.91% 11.87% -320.39% 36.93% -40.19%
NOPAT Growth		 57.12% -13.78% -49.09% -1,012.78% 275.62% -44.54% -50.75% 11.83% -272.10% 37.16% -39.89%
Net Income Growth		 62.81% -15.15% -56.00% -951.90% 279.95% -48.55% -53.29% 12.83% -281.79% 44.35% -37.42%
EPS Growth		 64.10% 11.11% -25.00% -771.43% 285.71% -20.83% -24.00% 31.91% -211.54% 55.17% -9.68%
Operating Cash Flow Growth		 0.60% -139.09% 26.27% -34.89% -31.32% -88.56% -67.51% 3.90% 22.62% 5.53% -16.45%
Free Cash Flow Firm Growth		 193.27% -200.56% -200.68% -194.56% -420.19% -6.97% -33.77% -146.81% -7.10% 56.31% 39.34%
Invested Capital Growth		 -21.00% 36.63% 31.05% 6.16% 43.50% 55.88% 57.52% 59.13% 9.96% 45.40% 37.20%
Revenue Q/Q Growth		 -40.96% -56.85% 57.06% -138.98% 1,191.04% -89.04% -5.19% -12.54% 126.67% 121.78% -94.06%
EBITDA Q/Q Growth		 -331.40% -100.50% -2.90% -87.01% 145.05% -271.98% -6.42% -6.23% -0.32% 46.13% -146.87%
EBIT Q/Q Growth		 -492.20% -88.36% -2.70% -81.57% 140.13% -295.00% -6.21% -6.03% -0.36% 44.20% -136.08%
NOPAT Q/Q Growth		 -366.80% -84.44% -1.56% -82.63% 151.33% -251.80% -5.93% -6.81% -0.20% 44.57% -135.80%
Net Income Q/Q Growth		 -324.16% -94.13% -4.33% -87.65% 147.35% -260.25% -7.66% -6.70% 1.25% 50.94% -165.86%
EPS Q/Q Growth		 -300.00% -71.43% -4.17% -88.00% 155.32% -211.54% -6.90% -3.23% 9.38% 55.17% -161.54%
Operating Cash Flow Q/Q Growth		 3.53% -0.58% 17.84% -69.21% 6.09% -44.43% 27.01% 2.93% 24.38% -76.32% 10.03%
Free Cash Flow Firm Q/Q Growth		 -76.03% -895.46% 16.59% 40.54% 18.83% -165.75% -4.31% -9.70% 64.78% -8.42% -44.82%
Invested Capital Q/Q Growth		 11.17% 2.75% -0.69% -7.88% 46.52% 24.06% 3.04% -3.79% -17.83% 53.95% -11.51%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -54.78% -254.55% -166.78% 0.00% 33.04% -518.68% -582.19% -707.14% -312.97% -76.02% -3,159.02%
Operating Margin		 -64.30% -274.83% -177.72% 0.00% 27.42% -542.82% -606.50% -740.71% -327.44% -81.83% -3,248.33%
EBIT Margin		 -62.29% -271.92% -177.81% 0.00% 30.47% -542.27% -607.44% -736.45% -326.08% -82.04% -3,260.43%
Profit (Net Income) Margin		 -55.95% -251.70% -167.19% 0.00% 34.93% -510.93% -580.17% -707.83% -308.37% -68.21% -3,052.60%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 89.81% 92.56% 94.03% 97.17% 114.65% 94.22% 95.51% 96.11% 94.57% 83.14% 93.63%
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% 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)		 -1,118.17% -1,920.16% 372.56% -243.82% -73.24% -105.50% -171.41% -86.51% -54.97% -53.11% -67.42%
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)		 -33.50% -122.19% -89.55% 0.00% 10.52% -217.36% -247.48% -268.19% -28.13% -13.51% -525.83%
Return on Assets (ROA)		 -30.09% -113.11% -84.20% 0.00% 12.06% -204.80% -236.37% -257.77% -26.60% -11.23% -492.31%
Return on Common Equity (ROCE)		 593.60% 2,787.72% 521.28% -210.98% -68.89% -97.70% -153.60% -81.67% -53.80% -52.50% -66.53%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -242.88% 2,113.46% -100.62% 0.00% -65.38% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -13 -24 -24 -45 23 -35 -37 -39 -40 -22 -52
NOPAT Margin		 -45.01% -192.38% -124.41% 0.00% 27.42% -379.98% -424.55% -518.50% -229.21% -57.28% -2,273.83%
Net Nonoperating Expense Percent (NNEP)		 -2.15% -3.73% -5.01% -7.43% 2.47% -5.56% -7.32% -5.60% -2.99% -1.05% -5.01%
Return On Investment Capital (ROIC_SIMPLE)		 -33.00% - - - 10.96% -20.29% -26.52% -31.67% -7.63% -4.28% -11.39%
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		 47.03% 108.06% 72.60% 0.00% 19.27% 200.08% 206.79% 237.74% 121.18% 57.79% 1,090.71%
R&D to Revenue		 117.27% 266.77% 205.12% 0.00% 53.31% 442.75% 499.70% 602.97% 306.26% 124.04% 2,257.61%
Operating Expenses to Revenue		 164.30% 374.83% 277.72% 0.00% 72.58% 642.82% 706.50% 840.71% 427.44% 181.83% 3,348.33%
Earnings before Interest and Taxes (EBIT)		 -18 -34 -35 -64 26 -50 -53 -56 -56 -31 -74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -16 -32 -33 -61 28 -48 -51 -54 -54 -29 -72
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 12.62 29.72 0.00 7.22 9.00 7.22 7.19 9.35 5.48 2.67 2.46
Price to Tangible Book Value (P/TBV)		 12.62 29.72 0.00 7.22 9.00 7.22 7.19 9.35 5.48 2.67 2.46
Price to Revenue (P/Rev)		 4.41 6.68 5.53 19.08 17.42 11.82 10.66 10.66 66.52 19.01 17.10
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)		 2.72 5.15 4.21 13.43 14.70 9.58 8.53 8.94 52.61 11.42 9.59
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 0.00 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		 -28.79 -62.11 8.52 -3.92 -1.92 -2.03 -2.44 -1.83 -1.23 -1.15 -1.18
Leverage Ratio		 40.96 78.24 -11.12 4.78 2.37 2.46 3.04 2.13 1.33 1.26 1.35
Compound Leverage Factor		 36.79 72.42 -10.46 4.64 2.71 2.32 2.91 2.05 1.26 1.05 1.26
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		 16.58% 23.67% 179.08% 5.27% 3.62% 4.38% 5.35% 5.95% 1.50% 0.00% 0.00%
Common Equity to Total Capital		 83.42% 76.33% -79.08% 94.73% 96.38% 95.62% 94.65% 94.05% 98.50% 100.00% 100.00%
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		 -3.49 -3.89 -5.54 -1.48 5.20 1.68 -0.72 -0.64 13.03 9.16 3.50
Noncontrolling Interest Sharing Ratio		 153.09% 245.18% -39.92% 13.47% 5.95% 7.40% 10.39% 5.59% 2.12% 1.14% 1.31%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.26 1.19 0.99 1.90 2.89 2.95 2.56 2.51 6.47 11.26 9.99
Quick Ratio		 1.19 1.09 0.90 1.82 2.74 2.78 2.40 2.40 6.35 10.93 9.67
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 14 -112 -94 -56 -45 -120 -125 -137 -48 -52 -76
Operating Cash Flow to CapEx		 -9,336.80% -8,017.27% -52,823.08% -12,135.25% -50,753.49% -38,205.45% -15,036.60% -18,010.48% 0.00% -13,596.58% -6,061.31%
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		 0.54 0.45 0.50 0.19 0.35 0.40 0.41 0.36 0.09 0.16 0.16
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 9.62 0.00 64.63 0.00 31.67 0.00 52.19
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		 7.46 7.95 8.26 4.34 9.33 9.55 9.02 11.42 4.87 8.63 8.24
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 37.93 0.00 5.65 0.00 11.52 0.00 6.99
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 37.93 0.00 5.65 0.00 11.52 0.00 6.99
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -157 -152 -153 -165 -88 -67 -65 -68 -80 -37 -41
Invested Capital Turnover		 -0.79 -0.58 -0.59 -0.31 -0.88 -0.96 -0.86 -0.94 -0.51 -1.38 -1.23
Increase / (Decrease) in Invested Capital		 -27 88 69 11 68 85 88 98 8.81 30 24
Enterprise Value (EV)		 308 581 465 720 1,592 1,005 801 977 2,248 820 627
Market Capitalization		 500 754 611 1,023 1,887 1,240 1,002 1,165 2,842 1,365 1,118
Book Value per Share		 $0.40 $0.21 ($0.03) $1.14 $1.37 $1.12 $0.90 $0.78 $3.10 $2.72 $2.22
Tangible Book Value per Share		 $0.40 $0.21 ($0.03) $1.14 $1.37 $1.12 $0.90 $0.78 $3.10 $2.72 $2.22
Total Capital		 48 33 4.40 150 217 180 147 132 526 512 454
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		 -200 -181 -154 -311 -302 -243 -208 -196 -602 -545 -491
Capital Expenditures (CapEx)		 0.36 0.42 0.05 0.38 0.09 0.17 0.31 0.25 -0.00 0.44 0.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -151 -150 -155 -157 -93 -72 -72 -67 -82 -33 -34
Debt-free Net Working Capital (DFNWC)		 49 31 -1.05 154 209 171 136 130 520 511 457
Net Working Capital (NWC)		 49 31 -1.05 154 209 171 136 130 520 511 457
Net Nonoperating Expense (NNE)		 3.18 7.44 8.43 17 -6.29 12 14 14 14 4.18 18
Net Nonoperating Obligations (NNO)		 -204 -186 -158 -315 -306 -247 -212 -200 -606 -548 -494
Total Depreciation and Amortization (D&A)		 2.18 2.18 2.17 2.16 2.16 2.16 2.20 2.23 2.26 2.31 2.30
Debt-free, Cash-free Net Working Capital to Revenue		 -133.64% -132.87% -140.28% -293.16% -85.54% -69.06% -76.99% -61.00% -192.66% -46.17% -51.87%
Debt-free Net Working Capital to Revenue		 43.19% 27.36% -0.95% 286.86% 193.39% 162.58% 144.92% 118.64% 1,216.44% 712.33% 698.62%
Net Working Capital to Revenue		 43.19% 27.36% -0.95% 286.86% 193.39% 162.58% 144.92% 118.64% 1,216.44% 712.33% 698.62%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.14) ($0.24) ($0.25) ($0.47) $0.26 ($0.29) ($0.31) ($0.32) ($0.29) ($0.13) ($0.34)
Adjusted Weighted Average Basic Shares Outstanding		 106.10M 129.27M 129.53M 132.56M 138.28M 162.53M 163.99M 167.74M 168.65M 200.17M 204.01M
Adjusted Diluted Earnings per Share		 ($0.14) ($0.24) ($0.25) ($0.47) $0.26 ($0.29) ($0.31) ($0.32) ($0.29) ($0.13) ($0.34)
Adjusted Weighted Average Diluted Shares Outstanding		 106.10M 129.27M 129.53M 132.56M 138.28M 162.53M 163.99M 167.74M 168.65M 200.17M 204.01M
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		 122.28M 122.46M 124.74M 152.52M 153.49M 154.13M 159.14M 167.18M 188.25M 192.38M 197.05M
Normalized Net Operating Profit after Tax (NOPAT)		 -13 -24 -24 -45 16 -35 -37 -39 -40 -22 -52
Normalized NOPAT Margin		 -45.01% -192.38% -124.41% 0.00% 19.20% -379.98% -424.55% -518.50% -229.21% -57.28% -2,273.83%
Pre Tax Income Margin		 -55.95% -251.70% -167.19% 0.00% 34.93% -510.93% -580.17% -707.83% -308.37% -68.21% -3,052.60%
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%

Financials Breakdown Chart

Key Financial Trends

WAVE Life Sciences’ financial profile remains heavily dependent on financing and milestone-related revenue rather than recurring operating profitability. The latest quarter shows a sharp decline in revenue, continued net losses and substantial cash usage, although the company maintains a sizeable liquidity cushion and a stronger equity position than it had in 2023 and 2024.

  • Liquidity remains substantial. As of June 30, 2026, WAVE reported $368.0 million in cash and equivalents plus $122.6 million in short-term investments, or approximately $490.6 million in readily available funds. This compares with $544.6 million of cash at March 31, 2026, excluding the newly reported short-term investments.
  • The balance sheet has improved significantly since 2023. Total equity rose from negative $51.7 million in the second quarter of 2023 to $453.5 million in the second quarter of 2026. Total assets also increased from $230.0 million to $558.3 million over the same period.
  • Revenue has demonstrated the potential for meaningful milestone or partnership-related inflows. Quarterly revenue reached $83.7 million in Q4 2024 and $38.2 million in Q1 2026, compared with less than $10 million in several other recent quarters. This indicates that successful collaborations or program milestones can materially affect results.
  • Interest and investment income provides some support. Interest and investment income was $4.7 million in Q2 2026 and $5.3 million in Q1 2026, helping offset a portion of operating expenses while the company holds a large cash balance.
  • Investing activity shifted materially in Q2 2026. Net cash used in investing activities was $123.5 million, despite only $0.9 million of capital spending. The result appears primarily related to purchases or movements of investments, so investors should monitor whether this represents a temporary treasury allocation or a more persistent cash deployment trend.
  • Research and development remains the central use of capital. R&D expense was $51.3 million in Q2 2026, up from $33.3 million in Q2 2023. Continued spending may support clinical and pipeline progress, but it also means that profitability depends on future product, partnership or milestone success.
  • Operating losses have persisted and widened recently. Net losses were $69.4 million in Q2 2026, compared with $26.1 million in Q1 2026 and $50.5 million in Q2 2025. Operating expenses of $76.1 million far exceeded the latest quarter’s $2.3 million of revenue.
  • Revenue is highly volatile and fell sharply sequentially. Q2 2026 revenue declined approximately 94% from Q1 2026’s $38.2 million. The company also reported negative revenue of $7.7 million in Q3 2024, highlighting the potential for significant quarter-to-quarter variability in collaboration and milestone revenue.
  • Cash burn remains substantial. Operating cash flow was negative $53.6 million in Q2 2026 after negative $59.6 million in Q1 2026. The company’s net cash decline was $176.6 million in Q2, driven by operating losses and investment activity. Continued cash usage could eventually require additional financing if operating inflows do not improve.
  • Shareholder dilution has been an important source of funding. Weighted average basic shares outstanding increased from 66.5 million in Q2 2022 to 204.0 million in Q2 2026. The company reported equity issuance in multiple periods, including $429.9 million of financing proceeds in Q4 2025, which strengthened liquidity but diluted existing shareholders.

Overall, WAVE has a considerably stronger liquidity position and positive equity balance than it did several years ago. However, the latest statements show that the company is still operating at a substantial loss, generating negative operating cash flow and relying on an unpredictable revenue stream. For investors, the key indicators to watch are recurring revenue growth, progress toward reducing the quarterly cash burn and whether future financing can be avoided without significant additional dilution.

09/16/26 02:59 PM ETAI Generated. May Contain Errors.

WAVE Life Sciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, WAVE Life Sciences' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

WAVE Life Sciences' net income appears to be on an upward trend, with a most recent value of -$204.38 million in 2025, rising from -$19.20 million in 2015. The previous period was -$97.01 million in 2024. View WAVE Life Sciences' forecast to see where analysts expect WAVE Life Sciences to go next.

WAVE Life Sciences' total operating income in 2025 was -$215.38 million, based on the following breakdown:
  • Total Gross Profit: $42.73 million
  • Total Operating Expenses: $258.11 million

Over the last 10 years, WAVE Life Sciences' total revenue changed from $152 thousand in 2015 to $42.73 million in 2025, a change of 28,009.9%.

WAVE Life Sciences' total liabilities were at $112.27 million at the end of 2025, a 16.7% decrease from 2024, and a 2,665.9% increase since 2015.

In the past 10 years, WAVE Life Sciences' cash and equivalents has ranged from $88.50 million in 2022 to $602.07 million in 2025, and is currently $602.07 million as of their latest financial filing in 2025.

Over the last 10 years, WAVE Life Sciences' book value per share changed from 7.12 in 2015 to 3.10 in 2025, a change of -56.5%.


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Financial statements for NASDAQ:WVE last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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