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ADCT reported revenue of $81.36M and net income of −$142.62M in FY2025.
| Fiscal year | Revenue | Net income |
|---|---|---|
| 2025 | $81.36M | −$142.62M |
| 2024 | $70.84M | −$157.85M |
| 2023 | $69.56M | −$240.05M |
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Also filed under Biotechnology, ranked by how closely they sit beside ADCT.
ADCT is among the largest companies matching:
The assistant answers from what ADCT has actually filed: 4 annual reports filed with the SEC, 39 Form 4 filings from the last year and 1 fund that holds it. Every figure in a reply links to the filing it came from, so an answer can be checked rather than believed.
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Cash flow breakdown
What the business generated, and where it went
Operating cash flow
−$141.17M 2025
Cash generated by the business itself
Free cash flow
−$141.44M 2025
Operating cash flow minus capital expenditure
Capital expenditure
$264K 2025
Spending on property, plant and equipment
ADCT generated −$141.17M of operating cash flow. Each figure below is what it did with that, as reported on the same statement.
Reinvested in the business
A non-cash cost, added back above
As reported in the company's own annual filings.
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating cash flow | −$141.17M | −$123.84M | −$118.69M | −$138.31M |
| Capital expenditure | $264K | $867K | $3.22M | $687K |
| Free cash flow | −$141.44M | −$124.7M | −$121.9M | −$139M |
| Stock-based compensation | $6.91M | $6.57M | $13.5M | $49.32M |
Financial statements
Every figure below is this company’s, as filed. Measure draws them: 4 years and 14 quarters plotted to scale, on the income statement, balance sheet and cash flow, plus the ratio and estimate sections this page does not carry.
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Gross profit
Plotted to scale onMeasure
Revenue
Plotted to scale onMeasure
As reported in the company's own annual filings.
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | $81.36M | $70.84M | $69.56M | $209.91M |
| Cost of revenue | $5.8M | $5.95M | $2.53M | $3.3M |
| Gross profit | $75.56M | $64.89M | $67.03M | $206.61M |
| Research and development | $104.01M | $109.63M | $127.13M | $186.46M |
| Selling, general and administrative | $36.56M | $41.89M | $48.42M | $74.44M |
| Operating income | −$121.5M |
Total assets
Plotted to scale onMeasure
Total liabilities
Plotted to scale onMeasure
Cash
Plotted to scale onMeasure
Current assets
Plotted to scale onMeasure
Current liabilities
Plotted to scale onMeasure
As reported in the company's own annual filings.
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Total assets | $323.15M | $321.98M | $354.78M | $490.86M |
| Current assets | $306.34M | $291.25M | $336.29M | $434.98M |
| Cash | $261.34M | $250.87M | $278.6M | $326.44M |
| Total liabilities | $508.98M | $524.62M | $503.03M | $411.41M |
| Current liabilities | $70.16M | $80.47M | $67.67M | $81.94M |
| Shareholder equity | −$185.83M | −$202.64M |
Market cap
Plotted to scale onMeasure
Computed against the closing price on each fiscal year end, not reported by the company.
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Market cap | $448.55M | $193.35M | $135.64M | $300.11M |
| Enterprise value | $187.21M | −$57.52M | −$142.96M | −$26.33M |
| Price at year end | $3.53 | $1.99 | $1.66 | $3.84 |
Derived from SEC XBRL filings. Not investment advice.
See every filed year for ADCT, quarter by quarter.
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Watch ADCT and every quarterly and annual report, material 8-K, open-market Form 4 worth a row and tracked manager's change lands in the bell and a daily email. Free.
See all 4 filed years plotted, not just read
Every annual statement ADCT has filed is on this page as figures. Drawn to scale, a trend over the whole record is something you can see rather than something you have to add up.
The charts, to scaleMeasure
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Revenue, margins and cash flow quarter by quarter, where a change in direction shows up first.
Quarterly statementsMeasure
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Why a margin moved, where the cash went: answered from ADCT's own statements, not a guess.
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| −$130.65M |
| −$165.99M |
| −$123.34M |
| Net income | −$142.62M | −$157.85M | −$240.05M | −$157.13M |
|---|
| Diluted EPS | -$1.12 | -$1.62 | -$2.94 | -$2.01 |
|---|
| Diluted shares | 127.07M | 97.16M | 81.71M | 78.15M |
|---|
| Gross margin | 92.87% | 91.60% | 96.36% | 98.43% |
|---|
| Operating margin | −149.34% | −184.44% | −238.63% | −58.76% |
|---|
| Net margin | −175.31% | −222.83% | −345.11% | −74.86% |
|---|
| −$148.25M |
| $79.45M |