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Stocks · Health care · Pharmaceutical Preparations

Wave Life Sciences, Inc.

WVE Clue Score51
United States Fiscal year ends December CIK 0001631574
$3.46 -0.29% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $3.46 −25.43% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1.1Operating income−55.7Net income−55.7Fiscal year 2017Revenue3.9 +256.5%Operating income−102.4Net income−102.0Fiscal year 2018Revenue14.4 +270.3%Operating income−159.5Net income−146.7Fiscal year 2019Revenue16.0 +10.9%Operating income−208.3Net income−193.6Fiscal year 2020Revenue20.1 +25.6%Operating income−153.4Net income−149.9Fiscal year 2021Revenue41.0 +104.0%Operating income−127.0Net income−122.2EPS, diluted−2.36Fiscal year 2022Revenue3.6 −91.1%Operating income−162.7Net income−161.8EPS, diluted−2.05Fiscal year 2023Revenue113.3 +3,005.1%Operating income−68.0Net income−57.5EPS, diluted−0.54Fiscal year 2024Revenue108.3 −4.4%Operating income−110.4Net income−97.0EPS, diluted−0.70Fiscal year 2025Revenue42.7 −60.5%Operating income−215.4Net income−204.4EPS, diluted−1.21
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1.1 3.9 14.4 16.0 20.1 41.0 3.6 113.3 108.3 42.7
Growth +256.5% +270.3% +10.9% +25.6% +104.0% −91.1% +3,005.1% −4.4% −60.5%
Operating income −55.7 −102.4 −159.5 −208.3 −153.4 −127.0 −162.7 −68.0 −110.4 −215.4
Net income −55.7 −102.0 −146.7 −193.6 −149.9 −122.2 −161.8 −57.5 −97.0 −204.4
Growth
EPS, diluted n/a n/a n/a n/a n/a −2.36 −2.05 −0.54 −0.70 −1.21

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−5,102.6%Net margin−5,097.1%Free cash flow margin−3,433.3%Fiscal year 2017Operating margin−2,630.1%Net margin−2,619.6%Free cash flow margin−2,634.4%Fiscal year 2018Operating margin−1,106.7%Net margin−1,017.4%Free cash flow margin−227.6%Fiscal year 2019Operating margin−1,303.4%Net margin−1,211.5%Free cash flow margin−1,202.2%Fiscal year 2020Operating margin−763.9%Net margin−746.7%Free cash flow margin−584.4%Fiscal year 2021Operating margin−310.1%Net margin−298.4%Free cash flow margin−218.6%Fiscal year 2022Operating margin−4,459.3%Net margin−4,434.7%Free cash flow margin−3,539.1%Fiscal year 2023Operating margin−60.0%Net margin−50.8%Free cash flow margin−18.1%Fiscal year 2024Operating margin−101.9%Net margin−89.6%Free cash flow margin−140.3%Fiscal year 2025Operating margin−504.1%Net margin−478.3%Free cash flow margin−440.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −5,102.6% −2,630.1% −1,106.7% −1,303.4% −763.9% −310.1% −4,459.3% −60.0% −101.9% −504.1%
Net margin −5,097.1% −2,619.6% −1,017.4% −1,211.5% −746.7% −298.4% −4,434.7% −50.8% −89.6% −478.3%
Free cash flow margin −3,433.3% −2,634.4% −227.6% −1,202.2% −584.4% −218.6% −3,539.1% −18.1% −140.3% −440.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−31.9Capital expenditure−5.6Free cash flow−37.5Fiscal year 2017Operating cash flow−83.7Capital expenditure−18.9Free cash flow−102.6Fiscal year 2018Operating cash flow−22.9Capital expenditure−9.9Free cash flow−32.8Fiscal year 2019Operating cash flow−188.2Capital expenditure−3.9Free cash flow−192.1Fiscal year 2020Operating cash flow−116.0Capital expenditure−1.3Free cash flow−117.3Fiscal year 2021Operating cash flow−89.0Capital expenditure−0.6Free cash flow−89.6Fiscal year 2022Operating cash flow−127.8Capital expenditure−1.4Free cash flow−129.1Fiscal year 2023Operating cash flow−19.4Capital expenditure−1.1Free cash flow−20.5Fiscal year 2024Operating cash flow−151.0Capital expenditure−0.9Free cash flow−152.0Fiscal year 2025Operating cash flow−187.5Capital expenditure−0.7Free cash flow−188.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −31.9 −83.7 −22.9 −188.2 −116.0 −89.0 −127.8 −19.4 −151.0 −187.5
Capital expenditure −5.6 −18.9 −9.9 −3.9 −1.3 −0.6 −1.4 −1.1 −0.9 −0.7
Free cash flow −37.5 −102.6 −32.8 −192.1 −117.3 −89.6 −129.1 −20.5 −152.0 −188.2
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash150.3Shareholders’ equity134.6Fiscal year 2017Cash142.5Shareholders’ equity139.6Fiscal year 2018Cash174.8Shareholders’ equity73.3Fiscal year 2019Cash147.2Shareholders’ equity63.7Fiscal year 2020Cash184.5Shareholders’ equity82.8Fiscal year 2021Cash150.6Shareholders’ equity32.5Fiscal year 2022Cash88.5Shareholders’ equity−45.1Fiscal year 2023Cash200.4Shareholders’ equity39.6Fiscal year 2024Cash302.1Shareholders’ equity209.5Fiscal year 2025Cash602.1Shareholders’ equity518.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 150.3 142.5 174.8 147.2 184.5 150.6 88.5 200.4 302.1 602.1
Shareholders’ equity 134.6 139.6 73.3 63.7 82.8 32.5 −45.1 39.6 209.5 518.4

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−5,102.6% −2,630.1% −1,106.7% −1,303.4% −763.9% −310.1% −4,459.3% −60.0% −101.9% −504.1%
−5,052.9% −2,597.9% −1,017.0% −1,211.5% −750.9% −298.9% −4,416.1% −51.4% −89.6% −478.3%
−5,097.1% −2,619.6% −1,017.4% −1,211.5% −746.7% −298.4% −4,434.7% −50.8% −89.6% −478.3%
−3,433.3% −2,634.4% −227.6% −1,202.2% −584.4% −218.6% −3,539.1% −18.1% −140.3% −440.5%
Spending
3,737.9% 2,037.2% 932.6% 1,097.6% 652.2% 297.5% 3,175.0% 114.7% 147.4% 427.8%
1,464.7% 692.9% 274.1% 305.8% 211.7% 112.6% 1,384.3% 45.3% 54.5% 176.3%
509.8% 485.2% 68.9% 24.5% 6.7% 1.4% 37.3% 1.0% 0.9% 1.7%
Returns
−41.4% −73.0% −199.9% −303.8% −181.1% −376.2% n/a −145.1% −46.3% −39.4%
−33.8% −56.1% −49.6% −68.1% −53.7% −59.1% −110.5% −20.9% −27.5% −32.0%
Balance and payout
13.4% 18.9% 72.6% 74.8% 67.5% 80.5% 125.4% 82.7% 38.3% 17.6%