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Financials · ADCT

ADC Therapeutics SA (ADCT) financials

For the twelve months ended Sep 30, 2026, ADC Therapeutics SA reported $84.87M of revenue and -$81.25M of net income.

Revenue, TTM
$84.87M
Revenue growth, YoY
+12.8%
Net income, TTM
-$81.25M
Net margin
-95.7%
Free cash flow, TTM
-$100.55M
Cash
$189.20M
P/S
2.50
Market cap
$212.5M
Annual revenue$81.36M
FY2018FY2025
Annual net income-$142.62M
FY2018FY2025
Annual free cash flow-$141.44M
FY2018FY2025

ADCT revenue and earnings growth

ADCT revenueQ3 2026$21.72M

Quarter YoY
+32.2%
QoQ
+12.8%
FY YoY
+14.9%

ADCT revenue was $21.72M in fiscal Q3 2026 (ended Sep 30, 2026), up 32.2% from a year earlier and up 12.8% from the prior quarter. For the full fiscal 2025 it was $81.36M, up 14.9% from fiscal 2024. It rose in 3 of the last 4 fiscal years.

ADCT net incomeQ3 2026-$25.30M

ADCT net income was -$25.30M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$40.97M a year earlier. For the full fiscal 2025 it was -$142.62M, compared with -$157.85M in fiscal 2024.

ADCT EPSQ3 2026-$0.16

ADCT diluted EPS was -$0.16 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.30 a year earlier. For the full fiscal 2025 it was -$1.12, compared with -$1.62 in fiscal 2024.

ADCT free cash flowQ3 2026-$27.88M

ADCT free cash flow was -$27.88M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$29.63M a year earlier. For the full fiscal 2025 it was -$141.44M, compared with -$124.70M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue$81.36M$70.84M$69.56M$209.91M$33.92M$0$2.34M$1.14M
Cost of revenue$5.80M$5.95M$2.53M$3.30M$1.39M$0$0-
Gross profit$75.56M$64.89M$67.03M$206.61M$32.52M$0$2.34M-
Research and development$104.00M$109.63M$127.13M$186.46M$158.00M$142.03M$107.54M$118.31M
Selling, general and admin$36.56M$41.89M$48.42M$74.44M$71.46M$55.13M$14.20M$8.77M
Operating income-$121.50M-$130.65M-$165.99M-$123.34M-$261.72M-$219.26M-$119.40M-$125.94M
Interest expense$51.63M$50.21M$46.33M$36.73M$18.34M$4.93M$156.0K$0
Pre-tax income-$141.61M-$156.14M-$195.42M-$146.82M-$251.50M-$245.96M-$115.90M-$122.87M
Income tax$1.01M$166.0K$39.11M$227.0K-$21.48M$327.0K$582.0K$224.0K
Net income-$142.62M-$157.85M-$240.05M-$157.13M-$230.03M-$246.29M-$116.48M-$123.10M
EPS, basic-$1.12-$1.62-$2.94-$2.01-$3.00-$3.77-$2.36-
EPS, diluted-$1.12-$1.62-$2.94-$2.01----
Diluted shares127.1M97.2M81.7M78.2M76.7M65.4M49.3M46.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$261.34M$250.87M$278.60M$326.44M$466.54M$439.19M$115.55M$138.81M
Receivables---$72.97M$30.22M$0--
Inventory$4.18M$2.25M$16.18M$12.07M$11.12M$0--
Current assets$306.33M$291.25M$336.29M$434.98M$525.18M$450.45M$122.61M-
Total assets$323.15M$321.98M$354.78M$490.86M$617.97M$513.69M$137.68M-
Current liabilities$70.16M$80.47M$67.67M$81.94M$73.94M$40.44M$19.94M-
Short-term debt$3.00M$0--$6.58M$3.63M$0-
Long-term debt----$87.15M$34.77M$0-
Total debt----$93.73M$38.41M$0-
Total liabilities$508.98M$524.62M$503.03M$411.41M$451.88M$178.19M$26.53M-
Shareholders' equity-$185.83M-$202.64M-$148.25M$79.45M$154.03M$335.50M$111.16M$126.24M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow-$141.17M-$123.83M-$118.69M-$138.31M-$233.38M-$168.73M-$121.58M-$121.36M
Capital expenditures$264.0K$867.0K$3.22M$687.0K$3.43M$801.0K$358.0K$944.0K
Free cash flow-$141.44M-$124.70M-$121.90M-$139.00M-$236.81M-$169.53M-$121.94M-$122.31M
Investing cash flow$395.0K-$867.0K-$3.22M-$687.0K-$6.67M-$2.83M-$2.25M-$2.51M
Financing cash flow$150.94M$97.05M$73.88M-$897.0K$267.39M$494.97M$100.51M-$24.0K
Share repurchases----$0$0$141.0K$0
Stock-based compensation$6.91M$6.57M$13.49M$49.32M$60.48M$37.59M$1.12M$469.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY14.9%1.8%-66.9%518.9%--100.0%105.3%-
Gross margin92.9%91.6%96.4%98.4%95.9%-100.0%-
Operating margin-149.3%-184.4%-238.6%-58.8%-771.6%--5102.5%-11047.5%
Net margin-175.3%-222.8%-345.1%-74.9%-678.2%--4977.9%-10797.9%
Free cash flow margin-173.8%-176.0%-175.3%-66.2%-698.2%--5211.1%-10728.6%
Return on equity----197.8%-149.3%-73.4%-104.8%-97.5%
Return on assets-44.1%-49.0%-67.7%-32.0%-37.2%-47.9%-84.6%-
Current ratio4.373.624.975.317.1011.146.15-
Debt to equity----0.610.110.00-

Source: XBRL data ADC Therapeutics SA files with the SEC, latest filing dated Nov 9, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ADCT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ADCT$84.87M+12.8%-$81.25M-95.7%$212.5M
LLY$86.46B+45.5%$27.58B31.9%$1.33T
JNJ$99.33B+7.8%$16.09B16.2%$679.13B
ABBV$66.01B+10.7%$10.34B15.7%$518.44B
MRK$67.38B+4.9%$2.45B3.6%$366.73B
NVS$54.53B+8.4%$13.98B25.6%$312.35B
AZN$58.74B+8.6%$10.22B17.4%$293.69B
ABT$48.23B+10.0%$4.70B9.7%$191.40B
NVODKK 309.06B+6.4%DKK 102.43B33.1%$183.23B

ADCT FAQ

7 questions
  • What is ADCT revenue?
    ADC Therapeutics SA (ADCT) reported $84.87M of revenue for the twelve months ended Sep 30, 2026. That is up 12.8% from the year before. Revenue for fiscal 2025 was $81.36M.
  • Is ADCT profitable?
    No. ADC Therapeutics SA reported a net loss of $81.25M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does ADCT have?
    ADC Therapeutics SA reported $189.20M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is ADCT revenue growing?
    ADC Therapeutics SA's revenue changed +14.9% in fiscal 2025, to $81.36M.
  • What is ADCT free cash flow?
    ADC Therapeutics SA generated -$100.55M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$100.52M less capital expenditures.
  • When did ADCT last report financial results?
    The latest statements here come from ADC Therapeutics SA's 10-Q filed on Nov 9, 2026, covering the period ended Sep 30, 2026.
  • Where does this ADCT financial data come from?
    Quantisnow builds these statements from the structured XBRL data ADC Therapeutics SA files with the SEC. It is provided for information only and is not investment advice.