Adagene Inc. cash flow statement

In fiscal 2025, Adagene Inc.'s operations generated −$15.7m of cash; it spent $17,053 on capital projects, leaving free cash flow of −$15.7m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Adagene Inc.: cash flow statement, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−14	−18	−29	−43	−49	−28	−30	−16
Depreciation and amortisation	1	1	1	1	1	1	1	0
Stock-based pay	0	1	10	19	11	7	5	4
Capital spending	1	0	1	3	1	0	0	0
Free cash flow	−15	−18	−29	−46	−49	−29	−30	−16
Free cash flow after stock pay	−15	−19	−40	−65	−60	−36	−35	−19
Share buybacks	—	—	—	2	4	—	—	—
Shares issued	—	—	—	—	—	—	7	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Adagene Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Adagene Inc.