FY2025 · ended Dec 31, 2025 · Revenue $42.73M, -60.5% YoY · Filed Feb 26, 2026
Wave Life Sciences, Inc. (WVE) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $42.7 million and a net loss of $204.4 million. Free cash flow was -$188.2 million. As of Sep 30, 2026 it held $431.0 million in cash and investments and $43.3 million in total debt.
Revenue
$42.73M
-60.5% vs prior year
Net income (TTM)
$-210.53M
-72.6% vs year-ago TTM
Operating cash flow (TTM)
$-207.05M
-4.9% vs year-ago TTM
Free cash flow (TTM)
$-208.39M
-5.2% vs year-ago TTM
EPS (TTM)
$-1.07
-43.6% vs year-ago TTM
Dividend per share
None
Shares outstanding
192.35M
+2.2% vs prior year
Net cash
$387.74M
as of Sep 30, 2026
Operating margin
-504.1%
FY 2025
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- WVE (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Cambridge, MA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1631574
- Former names
- Wave Life Sciences Ltd. (until Jul 30, 2026); Wave Life Sciences LTD. (until Jul 30, 2026); WAVE Life Sciences Ltd. (until Jul 30, 2026); Wave Life Sciences Pte Ltd (until Nov 2, 2015)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $42.7M | $108.3M | $113.3M | $3.6M | $41.0M |
| Operating income | -$215.4M | -$110.4M | -$68.0M | -$162.7M | -$127.0M |
| Net income | -$204.4M | -$97.0M | -$57.5M | -$161.8M | -$122.2M |
| Diluted EPS | -$1.21 | -$0.70 | -$0.54 | -$2.05 | — |
| Operating cash flow | -$187.5M | -$151.0M | -$19.4M | -$127.8M | -$89.0M |
| Free cash flow | -$188.2M | -$152.0M | -$20.5M | -$129.1M | -$89.6M |
| Total assets | $638.5M | $352.2M | $274.9M | $146.4M | $207.0M |
| Total liabilities | $112.3M | $134.8M | $227.4M | $183.6M | $166.6M |
| Stockholders' equity | $518.4M | $209.5M | $39.6M | -$45.1M | $32.5M |
| Cash and investments | $602.1M | $302.1M | $200.4M | $88.5M | $150.6M |
| Total debt | $17.8M | $25.4M | $32.1M | $37.6M | $29.9M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 27, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 27, 2026 | Oct 27, 2026 |
| ARS | Annual report to shareholders | Oct 14, 2026 | Dec 31, 2025 |
| 10-Q | Quarterly report | Jul 30, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations, Regulation FD disclosure
|
Jul 30, 2026 | Jul 30, 2026 |
| 8-K |
Current report
Shareholder vote results
|
Jun 26, 2026 | Jun 22, 2026 |
All 743 Wave Life Sciences, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.