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WAVE Life Sciences Valuation Multiples

Discover revenue and EBITDA valuation multiples for WAVE Life Sciences and similar public comparables like Galapagos, Vivoryon Therapeutics, and Benevolent AI.

WAVE Life Sciences Overview

About WAVE Life Sciences

WAVE Life Sciences Ltd is a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines also known as oligonucleotides, targeting ribonucleic acid (RNA), to transform human health. RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders. Its toolkit of RNA-targeting modalities includes RNA editing, antisense silencing, and RNA interference, providing capabilities for designing and sustainably delivering candidates that optimally address disease biology. Its programs are for rare and prevalent diseases, including alpha-1 antitrypsin deficiency, obesity, Duchenne muscular dystrophy, and Huntington’s disease.


Founded

2012

HQ

United States of America
Employees

288

Financials

LTM Revenue $89.5M

LTM EBITDA -$144M

EV

$707M

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WAVE Life Sciences Financials

WAVE Life Sciences has a last 12-month revenue (LTM) of $89.5M and a last 12-month EBITDA of -$144M.

In the most recent fiscal year, WAVE Life Sciences achieved revenue of $108M and an EBITDA of -$102M.

WAVE Life Sciences expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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WAVE Life Sciences P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $89.5M XXX $108M XXX XXX XXX
Gross Profit $88.6M XXX n/a XXX XXX XXX
Gross Margin 99% XXX n/a XXX XXX XXX
EBITDA -$144M XXX -$102M XXX XXX XXX
EBITDA Margin -161% XXX -94% XXX XXX XXX
EBIT -$138M XXX -$110M XXX XXX XXX
EBIT Margin -155% XXX -102% XXX XXX XXX
Net Profit -$127M XXX -$97.0M XXX XXX XXX
Net Margin -141% XXX -90% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

WAVE Life Sciences Stock Performance

As of May 30, 2025, WAVE Life Sciences's stock price is $6.

WAVE Life Sciences has current market cap of $926M, and EV of $707M.

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WAVE Life Sciences Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$707M $926M XXX XXX XXX XXX $-0.82

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WAVE Life Sciences Valuation Multiples

As of May 30, 2025, WAVE Life Sciences has market cap of $926M and EV of $707M.

WAVE Life Sciences's trades at 6.5x EV/Revenue multiple, and -6.9x EV/EBITDA.

Equity research analysts estimate WAVE Life Sciences's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

WAVE Life Sciences has a P/E ratio of -7.3x.

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WAVE Life Sciences Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $926M XXX $926M XXX XXX XXX
EV (current) $707M XXX $707M XXX XXX XXX
EV/Revenue 7.9x XXX 6.5x XXX XXX XXX
EV/EBITDA -4.9x XXX -6.9x XXX XXX XXX
EV/EBIT -5.1x XXX -6.4x XXX XXX XXX
EV/Gross Profit 8.0x XXX n/a XXX XXX XXX
P/E -7.3x XXX -9.5x XXX XXX XXX
EV/FCF -4.2x XXX -4.7x XXX XXX XXX

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WAVE Life Sciences Margins & Growth Rates

WAVE Life Sciences's last 12 month revenue growth is -29%

WAVE Life Sciences's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.8M for the same period.

WAVE Life Sciences's rule of 40 is -81% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

WAVE Life Sciences's rule of X is -234% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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WAVE Life Sciences Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -29% XXX -23% XXX XXX XXX
EBITDA Margin -161% XXX -94% XXX XXX XXX
EBITDA Growth 33% XXX n/a XXX XXX XXX
Rule of 40 -81% XXX -123% XXX XXX XXX
Bessemer Rule of X XXX XXX -234% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $0.8M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 147% XXX XXX XXX
Opex to Revenue XXX XXX 202% XXX XXX XXX

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WAVE Life Sciences Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Biopharmaceuticals comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Benevolent AI XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

WAVE Life Sciences M&A and Investment Activity

WAVE Life Sciences acquired  XXX companies to date.

Last acquisition by WAVE Life Sciences was  XXXXXXXX, XXXXX XXXXX XXXXXX . WAVE Life Sciences acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by WAVE Life Sciences

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About WAVE Life Sciences

When was WAVE Life Sciences founded? WAVE Life Sciences was founded in 2012.
Where is WAVE Life Sciences headquartered? WAVE Life Sciences is headquartered in United States of America.
How many employees does WAVE Life Sciences have? As of today, WAVE Life Sciences has 288 employees.
Who is the CEO of WAVE Life Sciences? WAVE Life Sciences's CEO is Dr. Paul B. Bolno, M.B.A.,M.D..
Is WAVE Life Sciences publicy listed? Yes, WAVE Life Sciences is a public company listed on NAS.
What is the stock symbol of WAVE Life Sciences? WAVE Life Sciences trades under WVE ticker.
When did WAVE Life Sciences go public? WAVE Life Sciences went public in 2015.
Who are competitors of WAVE Life Sciences? Similar companies to WAVE Life Sciences include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of WAVE Life Sciences? WAVE Life Sciences's current market cap is $926M
What is the current revenue of WAVE Life Sciences? WAVE Life Sciences's last 12 months revenue is $89.5M.
What is the current revenue growth of WAVE Life Sciences? WAVE Life Sciences revenue growth (NTM/LTM) is -29%.
What is the current EV/Revenue multiple of WAVE Life Sciences? Current revenue multiple of WAVE Life Sciences is 7.9x.
Is WAVE Life Sciences profitable? Yes, WAVE Life Sciences is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of WAVE Life Sciences? WAVE Life Sciences's last 12 months EBITDA is -$144M.
What is WAVE Life Sciences's EBITDA margin? WAVE Life Sciences's last 12 months EBITDA margin is -161%.
What is the current EV/EBITDA multiple of WAVE Life Sciences? Current EBITDA multiple of WAVE Life Sciences is -4.9x.
What is the current FCF of WAVE Life Sciences? WAVE Life Sciences's last 12 months FCF is -$167M.
What is WAVE Life Sciences's FCF margin? WAVE Life Sciences's last 12 months FCF margin is -186%.
What is the current EV/FCF multiple of WAVE Life Sciences? Current FCF multiple of WAVE Life Sciences is -4.2x.

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