Adagene Inc.(ADAG)Earnings, Financials & Key Ratios
ADAG•NASDAQ
$3.93
Price updated Jul 7, 2026
AboutAdagene Inc., a clinical stage biopharmaceutical company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti-CD137 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase I clinical trial for the treatment of advanced metastatic solid tumors. It also offers ADG104, an anti-PD-L1 mAb that is in Phase 2 clinical development; ADG125, a novel anti-CSF-1R mAb, which is in Phase I clinical trial; ADG206, a masked, Fc engineered anti-CD137 agonistic POWERbody, which is in preclinical; ADG153, a masked anti-CD47 IgG1 SAFEbody, which is in preclinical stage for the treatment hematologic and solid tumors; ADG138, novel HER2xCD3 POWERbody, which is in preclinical for the treatment HER2-expressing solid tumors; and ADG152, a CD20xCD3 POWERbody, which is in preclinical stage for the treatment off-tumor toxicities. The company was incorporated in 2011 and is headquartered in Suzhou, China.Show more
- Revenue$8M+7332.8%
- EBITDA-$21M+40.5%
- Net Income-$18M+47.3%
- EPS (Diluted)-0.46+51.6%
- Gross Margin100%+112.5%
- EBITDA Margin-271.79%+99.2%
- Operating Margin-279.48%+99.2%
- Net Margin-229.56%+99.3%
- ROE-41.01%+25.7%
ADAG Price & Volume
Adagene Inc. (ADAG) stock price & volume — 10-year historical chart
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Erratic Milestone Revenue Masks Persistent Operational Burn
Investment Thesis • Updated 2025Q4
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Clinical and Geopolitical Exposure
Key Thesis Takeaways
- Adagene's financial profile is defined by a high-risk reliance on unpredictable milestone payments, which creates significant volatility in its revenue trajectory and obscures the underlying structural losses.
- While the company maintains a modest debt-to-equity ratio of 0.18, the persistent erosion of its asset base from $152.4M in 2022Q4 to $78.3M in 2025Q4 suggests a precarious long-term runway.
- Investors should remain cautious as the company's clinical development programs continue to drive substantial cash burn, necessitating either further dilutive financing or the successful execution of high-value licensing agreements to maintain operations.
Verdict Logic
the company's reliance on sporadic milestone payments to cover operating expenses, coupled with a shrinking cash balance of $74.5M in 2025Q4, presents an unfavorable risk-reward profile for long-term investors.
ADAG Growth Metrics
Adagene Inc. (ADAG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years74.07%
3 Years-6.19%
TTM-17.62%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-101.11%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-97.58%
Return on Capital
10 Years-42.3%
5 Years-49.85%
3 Years-40.13%
Last Year-41.16%
ADAG Recent Earnings
Adagene Inc. (ADAG) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (57%)●Beat Revenue 0/12 qtrs (0%)
Q2 2026Latest
Apr 1, 2026Metric
Actual
Est
EPS
$0.07+75.0%
$0.28
Rev
$8M-56.1%
$18M
Q2 2025
Mar 24, 2025Metric
Actual
Est
EPS
$0.55-67.7%
$0.33
Rev
$103,204
—
Q3 2024
Jul 25, 2024Metric
Actual
Est
EPS
$0.19+53.0%
$0.41
Rev
—
—
Q2 2024
Mar 31, 2024Metric
Actual
Est
EPS
$0.19
—
Rev
—
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 1, 2026 | $0.07vs $0.28+75.0% | $8Mvs $18M-56.1% |
| Q2 2025 | Mar 24, 2025 | $0.55vs $0.33-67.7% | $103,204 |
| Q3 2024 | Jul 25, 2024 | $0.19vs $0.41+53.0% | — |
| Q2 2024 | Mar 31, 2024 | $0.19 | — |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Adagene Inc. (ADAG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $3.93 | $147.96M | -8.54 | 7332.76% | -229.56% | -41.01% | — | |
| $19.35 | $2.14B | -12.09 | 15.33% | -39.29% | -24.32% | — | |
| $4.08 | $5.15M | -0.08 | -81.82% | -2530.85% | — | — | |
| $40.09 | $8.23B | -14.47 | — | — | -68.16% | — | |
| $15.67 | $1.15B | -12.64 | 13.65% | -185.71% | -28.77% | — | |
| $14.66 | $1.36B | -10.32 | 144.57% | -151.12% | — | — |
Compare ADAG vs Peers
Adagene Inc. (ADAG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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ADAG Frequently Asked Questions
Adagene Inc. (ADAG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Adagene Inc.'s revenue?
Adagene Inc. (ADAG) reported $7.8M in revenue for fiscal year 2025. This represents a 416% increase from $1.5M in 2018.
How fast is Adagene Inc. growing?
Adagene Inc. (ADAG) grew revenue by 7332.8% over the past year. This is strong growth.
Is ADAG profitable?
Adagene Inc. (ADAG) reported a net loss of $51.1M for fiscal year 2025.
Dividend & Returns
What is ADAG's return on equity?
Adagene Inc. (ADAG) has a return on equity (ROE) of -41.0%. Negative ROE indicates the company is unprofitable.
What is Adagene Inc.'s free cash flow?
Adagene Inc. (ADAG) had negative free cash flow of $45.5M in fiscal year 2025, likely due to heavy capital investments.