ADC Therapeutics SA
ADCT- Exchange
- NYSE
- Industry
- Pharmaceutical Preparations
- SEC CIK
- 0001771910
No open-market purchases or sales by ADC Therapeutics SA insiders were filed in the last 90 days; 113 institutions reported holding it in 13F filings for Q2 2026, worth $86.3M in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 10, 2026, 1:19 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $142.6M (175.3% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 20-F | 20-F |
| Reported | Jan 8, 2026 | Jan 13, 2025 | Jan 4, 2024 | – | – |
| Revenue | $81.4M | $70.8M | $69.6M | $209.9M | $33.9M |
| Cost of revenue | $5.80M | $5.95M | $2.53M | $4.58M | $1.39M |
| Operating expenses | – | – | – | $333.5M | $295.6M |
| Research and development | $104.0M | $109.6M | $127.1M | $187.9M | $158.0M |
| Selling, general and administrative | $36.6M | $41.9M | $48.4M | $72.0M | $71.5M |
| Operating income | -$121.5M | -$130.7M | -$166.0M | -$123.6M | -$261.7M |
| Interest expense | $16.3M | $50.2M | $46.3M | $36.9M | $18.3M |
| Income tax | $1.01M | $166.0K | $39.1M | $1.14M | -$21.5M |
| Net income | -$142.6M | -$157.8M | -$240.1M | -$155.8M | -$230.0M |
| EPS, basic | $-1.12 | $-1.62 | $-2.94 | – | – |
| EPS, diluted | $-1.12 | $-1.62 | $-2.94 | – | – |
| Weighted shares, basic | 127.1M | 97.2M | 81.7M | 78.2M | 76.7M |
| Weighted shares, diluted | 127.1M | 97.2M | 81.7M | – | – |
| Margins and growth | |||||
| Operating margin | -149.3% | -184.4% | -238.6% | -58.9% | -771.6% |
| Net margin | -175.3% | -222.8% | -345.1% | -74.2% | -678.2% |
| Revenue growth, year over year | +14.9% | +1.8% | −66.9% | +518.9% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 20-F | 20-F |
| Reported | Jan 8, 2026 | Jan 13, 2025 | Jan 4, 2024 | – | – |
| Cash and equivalents | $261.3M | $250.9M | $278.6M | $326.4M | $466.5M |
| Accounts receivable | – | – | – | $73.0M | $30.2M |
| Inventory | $4.18M | $18.4M | $16.2M | $18.6M | $11.1M |
| Total current assets | $306.3M | $307.4M | $336.3M | $446.0M | $525.2M |
| Property, plant and equipment | $0 | $5.08M | $5.62M | $3.26M | $4.07M |
| Intangible assets | – | – | – | $14.4M | $13.6M |
| Total assets | $323.1M | $322.0M | $354.8M | $529.2M | $618.0M |
| Accounts payable | $9.18M | $18.0M | $15.6M | $12.4M | $12.1M |
| Short-term debt | $3.00M | – | – | – | – |
| Total current liabilities | $70.2M | $80.5M | $67.7M | $99.0M | $73.9M |
| Long-term debt | – | – | – | – | $87.2M |
| Total liabilities | $509.0M | $524.6M | $503.0M | $440.4M | $451.9M |
| Shareholders' equity | -$185.8M | -$202.6M | -$148.2M | $88.7M | $166.1M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 20-F | 20-F |
| Reported | Jan 8, 2026 | Jan 13, 2025 | Jan 4, 2024 | – | – |
| Operating cash flow | -$141.2M | -$123.8M | -$118.7M | -$136.8M | -$233.4M |
| Capital expenditures | $264.0K | $867.0K | $3.22M | $577.0K | $3.43M |
| Free cash flow | -$141.4M | -$124.7M | -$121.9M | -$137.4M | -$236.8M |
| Stock-based compensation | $6.91M | $6.57M | $13.5M | $49.3M | $60.5M |
| Share buybacks | – | – | – | – | $0 |
| Investing cash flow | $395.0K | -$867.0K | -$3.22M | -$2.51M | -$6.67M |
| Financing cash flow | $150.9M | $97.1M | $73.9M | -$593.0K | $267.4M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 8.5% | 9.3% | 19.4% | 23.5% | 178.3% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Aug 3, 2026 | 127.7M | +13.5% | SEC |
| Apr 27, 2026 | 127.2M | +28.2% | SEC |
| Mar 2, 2026 | 127.0M | +28.2% | SEC |
| Oct 31, 2025 | 123.9M | +28.1% | SEC |
| Aug 1, 2025 | 112.5M | +16.4% | SEC |
| May 1, 2025 | 99.2M | +19.8% | SEC |
| Mar 1, 2025 | 99.1M | +20.1% | SEC |
| Nov 1, 2024 | 96.7M | – | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.