Zenas BioPharma (ZBIO) EBITDA (2023 - 2026)

Zenas BioPharma's EBITDA history runs 4 years deep, the most recent figure standing at -$81.3 million for Q1 2026.

• In Q1 2026, EBITDA fell 141.78% year-over-year to -$81.3 million; the TTM figure through Mar 2026 stood at -$425.7 million (down 161.64% YoY), while the FY2025 annual figure was -$378.0 million, down 141.02% from the prior year.
• EBITDA was -$81.3 million for Q1 2026 at Zenas BioPharma, up from -$240.4 million in the prior quarter.
• In the past five years, EBITDA ranged from a high of $35.6 million in Q3 2023 to a low of -$240.4 million in Q4 2025.
• Historically, EBITDA has averaged -$55.0 million across 4 years, with a median of -$38.7 million in 2024.
• Biggest YoY gain for EBITDA was 21.12% in 2025; the steepest drop was 358.3% in 2025.
• A 4-year view of EBITDA shows it stood at -$24.7 million in 2023, then sank by 112.62% to -$52.5 million in 2024, then tumbled by 358.3% to -$240.4 million in 2025, then soared by 66.19% to -$81.3 million in 2026.
• The last three EBITDA figures came in at -$81.3 million (Q1 2026), -$240.4 million (Q4 2025), and -$51.5 million (Q3 2025), per Business Quant data.