ADC Therapeutics SA income statement
In fiscal 2025, ADC Therapeutics SA reported revenue of $81.4m, up 14.9% on the year before, operating income of −$121m (a -149.3% margin) and net income of −$143m, or −$1.12 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
| Fiscal year | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|
| Revenue | 210 | 70 | 71 | 81 | 80 |
| Cost of revenue | 3 | 3 | 6 | 6 | — |
| Gross profit | 207 | 67 | 65 | 76 | — |
| Research and development | 186 | 127 | 110 | 104 | 82 |
| Selling and marketing | 69 | 57 | 44 | 43 | 48 |
| General and administrative | 74 | 48 | 42 | 37 | 37 |
| Operating income | −123 | −166 | −131 | −121 | −100 |
| Interest expense | 37 | 46 | 50 | 52 | 52 |
| Income before tax | −147 | −195 | −156 | −142 | −97 |
| Income tax | 0 | 39 | 0 | 1 | −0 |
| Net income | −157 | −240 | −158 | −143 | −97 |
| Diluted EPS | −$2.01 | −$2.94 | −$1.62 | −$1.12 | −$0.65 |
| Diluted shares (average) | 78m | 82m | 97m | 127m | 149m |
| EBITDA | −122 | −165 | −129 | −121 | — |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18 | 17 | 23 | 19 | 16 | 23 | 21 | 19 |
| Research and development | 33 | 27 | 29 | 30 | 27 | 18 | 20 | 17 |
| Selling and marketing | 11 | 11 | 11 | 10 | 11 | 12 | 13 | 13 |
| General and administrative | 10 | 10 | 10 | 9 | 8 | 9 | 10 | 10 |
| Operating income | −36 | −32 | −28 | −44 | −31 | −18 | −25 | −25 |
| Interest expense | 13 | 12 | 12 | 13 | 13 | 13 | 12 | 14 |
| Income before tax | −44 | −31 | −38 | −55 | −41 | −7 | −33 | −17 |
| Income tax | 0 | −0 | 0 | 1 | 0 | −0 | 0 | 0 |
| Net income | −44 | −31 | −39 | −57 | −41 | −6 | −33 | −17 |
| Diluted EPS | −$0.42 | −$0.27 | −$0.36 | −$0.50 | −$0.30 | $0.02 | −$0.21 | −$0.11 |
| EBITDA | −35 | −32 | −28 | −44 | −31 | −18 | — | — |
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