ADCT · Adc Therapeutics SA - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.85M | - | $16.43M | $18.84M | $23.03M | - | $18.46M | $17.41M | $18.05M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $19.88M | - | $26.80M | $30.09M | $28.93M | - | $32.50M | $31.34M | $25.73M | - |
| SG&A | $9.90M | - | $8.33M | $8.82M | $9.96M | - | $9.62M | $12.00M | $12.03M | - |
| Total Operating Expenses | $46.10M | - | $47.40M | $62.99M | $51.50M | - | $54.03M | $58.93M | $51.67M | - |
| D&A | - | - | $0 | $362.0K | $342.0K | - | $336.0K | $326.0K | $331.0K | - |
| Operating Income | ($25.25M) | - | ($30.97M) | ($44.15M) | ($28.46M) | - | ($35.56M) | ($39.65M) | ($33.61M) | - |
| Interest Expense | $12.23M | - | $13.39M | $13.00M | $12.23M | - | $12.82M | $10.31M | $12.50M | - |
| Income Tax | $0 | - | $0 | $1.25M | $165.0K | - | ($85.0K) | ($4.50M) | $163.0K | - |
| Net Income | ($32.97M) | - | ($40.97M) | ($56.65M) | ($38.60M) | - | ($43.97M) | ($36.54M) | ($46.61M) | - |
| EPS - Basic | ($0.21) | - | ($0.30) | ($0.50) | ($0.36) | - | ($0.57) | ($0.38) | ($0.56) | - |
| EPS - Diluted | ($0.21) | - | ($0.30) | ($0.50) | ($0.36) | - | ($0.42) | ($0.60) | ($0.56) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $231.01M | $261.34M | $234.74M | $264.56M | $194.70M | $250.87M | $274.27M | $300.12M | $234.28M | $278.60M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $4.78M | $4.18M | $18.04M | $17.76M | $17.45M | $18.39M | $16.07M | $15.19M | $16.00M | $16.18M |
| Accounts Payable | $5.29M | $9.18M | $8.12M | $9.62M | $15.59M | $18.03M | $14.37M | $10.71M | $14.31M | $15.57M |
| Current Assets | $276.77M | $306.33M | $287.15M | $318.75M | $257.99M | $307.39M | $333.00M | $355.36M | $290.21M | $336.29M |
| Total Assets | $291.50M | $323.15M | $289.76M | $321.56M | $272.54M | $321.98M | $349.08M | $371.78M | $307.97M | $354.78M |
| Current Liabilities | $67.63M | $70.16M | $62.04M | $64.60M | $57.79M | $80.47M | $67.68M | $57.63M | $62.98M | $67.67M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $507.87M | $508.98M | $527.94M | $520.75M | $510.76M | $524.62M | $521.02M | $503.45M | $502.42M | $503.03M |
| Stockholders' Equity | ($216.38M) | ($185.83M) | ($238.18M) | ($199.18M) | ($238.22M) | ($202.64M) | ($64.25M) | ($19.70M) | $28.42M | ($148.25M) |
| Retained Earnings | ($1.67B) | ($1.64B) | ($1.63B) | ($1.59B) | ($1.53B) | ($1.49B) | ($1.46B) | ($1.42B) | ($1.38B) | ($1.34B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($29.71M) | - | - | - | ($56.33M) | - | - | - | ($44.09M) | - |
| Investing Cash Flow | ($32.0K) | - | - | - | ($264.0K) | - | - | - | ($531.0K) | - |
| Financing Cash Flow | ($583.0K) | - | - | - | $271.0K | - | - | - | $356.0K | - |
| CapEx | $32.0K | - | - | - | $264.0K | - | - | - | $531.0K | - |
| Free Cash Flow | ($29.74M) | - | - | - | ($56.60M) | - | - | - | ($44.63M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -121.1% | - | -188.5% | -234.3% | -123.6% | - | -192.6% | -227.7% | -186.2% | - |
| EBITDA margin | - | - | -188.5% | -232.4% | -122.1% | - | -190.8% | -225.9% | -184.4% | - |
| Net margin | -158.1% | - | -249.4% | -300.7% | -167.6% | - | -238.1% | -209.9% | -258.2% | - |
| Free cash flow margin | -142.6% | - | - | - | -245.7% | - | - | - | -247.2% | - |
| FCF / Net income | 0.90 | - | - | - | 1.47 | - | - | - | 0.96 | - |
| R&D / Revenue | 95.3% | - | 163.2% | 159.7% | 125.6% | - | 176.0% | 180.0% | 142.6% | - |
| SG&A / Revenue | 47.5% | - | 50.7% | 46.8% | 43.2% | - | 52.1% | 68.9% | 66.6% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -11.3% | - | -14.1% | -17.6% | -14.2% | - | -12.6% | -9.8% | -15.1% | - |
| Return on equity | 15.2% | - | 17.2% | 28.4% | 16.2% | - | 68.4% | 185.5% | -164.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.09 | 4.37 | 4.63 | 4.93 | 4.46 | 3.82 | 4.92 | 6.17 | 4.61 | 4.97 |
| Quick ratio | 4.02 | 4.31 | 4.34 | 4.66 | 4.16 | 3.59 | 4.68 | 5.90 | 4.35 | 4.73 |
| Cash ratio | 3.42 | 3.72 | 3.78 | 4.10 | 3.37 | 3.12 | 4.05 | 5.21 | 3.72 | 4.12 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -2.1x | - | -2.3x | -3.4x | -2.3x | - | -2.8x | -3.8x | -2.7x | - |
| Equity multiplier | -1.35 | -1.74 | -1.22 | -1.61 | -1.14 | -1.59 | -5.43 | -18.88 | 10.84 | -2.39 |
| Liabilities / Assets | 1.74 | 1.58 | 1.82 | 1.62 | 1.87 | 1.63 | 1.49 | 1.35 | 1.63 | 1.42 |
| Efficiency | ||||||||||
| Asset turnover | 0.07 | - | 0.06 | 0.06 | 0.08 | - | 0.05 | 0.05 | 0.06 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | 13.0x | - |
| P / S | 27.7x | - | 33.2x | 16.2x | 6.6x | - | 14.0x | 14.8x | 20.5x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -9.5% | - | -11.0% | 8.2% | 27.6% | - | 27.4% | -9.7% | -4.9% | - |
| Revenue CAGR (3y) | 3.2% | - | 7.7% | 2.9% | - | - | - | 66.7% | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 11.3% | - | 12.9% | -11.3% | 15.3% | - | 4.9% | 0.4% | 34.8% | - |
| Net income growth (YoY) | 14.6% | - | 6.8% | -55.0% | 17.2% | - | 8.0% | 22.4% | 21.6% | - |
| EPS growth (YoY) | 41.7% | - | 28.6% | 16.7% | 35.7% | - | 27.6% | -3.4% | 24.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 47.5% | - | - | - | -26.8% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 9.2% | 8.3% | -270.7% | -911.3% | - | -36.7% | -18.6% | -129.3% | -24.6% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$81.36M totalReportable Segment$81.36M · 100.0%
Product / service
$89.16M totalProduct$73.55M · 82.5%
License And Royalty Revenue$7.81M · 8.8%
License Revenues$5.00M · 5.6%
Royalty Revenue$2.81M · 3.1%
Geographic
$81.36M totalUS$73.55M · 90.4%
EMEA$7.81M · 9.6%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing ADC Therapeutics SA against the 5 most active filers in the same SIC group.