ADC Therapeutics SA (ADCT) Stock Analysis
Healthcare · Biotechnology · NYSE
ADC Therapeutics SA (ADCT) posted $81.36M in revenue for fiscal 2025 (up 14.9% year over year), with a net loss of $142.62M, and has compounded revenue about -27.1%/yr over five years, per its SEC filings.
Data last refreshed September 3, 2026 from SEC filings · how we compute this
The analyst's take on ADC Therapeutics SA
ADC Therapeutics SA has grown revenue from $209.91M to $81.36M over the last 4 fiscal years, compounding about -27.1% a year. The most recent year was up 14.9%, so growth is actually accelerating.
Net margin sits at -175.3%, up 47.5 points year over year on a 92.9% gross margin. It carries about $115.45M of total debt.
It clears 1 of 5 deterministic health checks. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from ADC Therapeutics SA's SEC filings — descriptive, not advice. Ask the analyst your own question →
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ADC Therapeutics SA revenue & earnings — last 4 fiscal years
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $209.91M | $69.56M | $70.84M | $81.36M |
| Gross profit | $206.61M | $67.03M | $64.89M | $75.56M |
| Net income | $-157.13M | $-240.05M | $-157.85M | $-142.62M |
| Net margin | -74.9% | -345.1% | -222.8% | -175.3% |
Source: ADC Therapeutics SA SEC filings (10-K).
ADC Therapeutics SA financial health: 1 of 5 checks passed
- ✗Revenue CAGR over 3 yrs (-27.1%/yr)
- ✗Net margin above 10% (-175.3%)
- ✓More cash than total debt (cash 261.3M vs debt 118.5M)
- ✗Free cash flow positive (latest yr) (-141.4M)
- ✗Share count falling over 3 yrs (buybacks) (80.6M → 125.7M shares)
Checks computed deterministically from filed annual statements — no AI judgement.
ADC Therapeutics SA: 5 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 43.3% while revenue rose 14.9% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Inventory building faster than salesInventory rose 85.9% versus revenue 14.9% — possible overproduction or softening demand.
- Share count rising (dilution)Shares outstanding grew 55.9% over 3 years (80.6M → 125.7M) — existing holders' stakes are being diluted.
- Debt with negative operating cash flowCarries $118.5M of debt while last year's operating cash flow was negative ($-141.2M).
- Currently unprofitableThe latest fiscal year was a net loss (net margin -175.3%).
Explore 4 years of ADC Therapeutics SA financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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ADC Therapeutics SA financial history
About ADC Therapeutics SA
ADC Therapeutics SA provides antibody drug conjugate (ADC) technology platform in Switzerland and the United States. Its flagship product includes ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S. Food and Drug Administration, conditional approval from the European Commission, and conditional approval from the China National Medical Products Administration for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. The company is also seeking to continue expanding ZYNLONTA into international markets and into earlier lines of DLBCL and indolent lymphomas, including follicular lymphoma (FL) and marginal zone lymphoma (MZL) as a single agent and in combination through its LOTIS-5 confirmatory Phase 3 clinical trial and LOTIS-7 Phase 1b clinical trial, as well as through investigator-initiated trials (IITs). In addition, it is investigating a CD-22 targeted compound' and ADCT-602 that is in a Phase 1/2 IIT in refractory B-cell acute lymphoblastic leukemia. Further, the company's pre-clinical stage pipeline includes a portfolio of next generation investigational ADCs targeting Claudin-6, NaPi2b, PSMA, NaPi2b, and ASCT2. ADC Therapeutics SA was incorporated in 2011 and is headquartered in Epalinges, Switzerland.
ADC Therapeutics SA — frequently asked questions
What is ADC Therapeutics SA's revenue?
ADC Therapeutics SA (ADCT) reported revenue of $81.36M for fiscal year 2025, up 14.9% from the prior year, according to its SEC filings.
Is ADC Therapeutics SA profitable?
No — ADCT reported a net loss of $-142.62M in fiscal 2025.
How fast is ADC Therapeutics SA growing?
ADCT's revenue grew at roughly -27.1% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does ADC Therapeutics SA have?
As of fiscal year 2025, ADCT carried roughly $115.45M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is ADC Therapeutics SA's gross margin?
ADCT's gross margin was 92.9% in fiscal 2025 — gross profit of $75.56M on revenue of $81.36M.
What is ADC Therapeutics SA's market cap?
ADC Therapeutics SA (ADCT) has a market capitalization of about $136.73M, based on the latest data in our nightly-refreshed cache.
When does ADC Therapeutics SA's fiscal year end?
ADCT's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from ADC Therapeutics SA's official SEC filings (10-K and 10-Q), covering 4 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.