Adagene Inc. income statement

In fiscal 2025, Adagene Inc. reported revenue of $7.7m, up 7332.8% on the year before, operating income of −$21.4m (a -279.5% margin) and net income of −$17.6m, or −$0.38 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Adagene Inc.: income statement, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	2	0	1	10	9	18	0	8
Research and development	16	16	34	68	81	37	29	22
General and administrative	3	3	10	14	12	9	7	7
Operating income	−17	−19	−43	−72	−84	−24	−36	−21
Interest expense	0	0	0	0	1	1	1	0
Income before tax	−15	−16	−42	−71	−80	−17	−33	−18
Income tax	—	—	—	2	0	2	−0	−0
Net income	−15	−16	−42	−73	−80	−19	−33	−18
Diluted EPS	−$0.39	−$0.46	−$1.11	−$1.82	−$1.85	−$0.44	−$0.74	−$0.38
Diluted shares (average)	36m	36m	38m	40m	43m	44m	45m	47m
EBITDA	−16	−18	−42	−71	−83	−23	−35	−21

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.