Adagio Medical Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data Adagio Medical Holdings, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2024
FY2025
Revenue
0.3
0
Cost of revenue
1.31
0.68
Gross profit
-1.01
-0.68
Research and development
15.4
10.6
Selling, general and administrative
11.5
10.6
Operating income
-27.9
-21.9
Interest expense
1.66
2.91
Interest income
0
0.48
Other non-operating income
-8.65
-3.19
Pre-tax income
-36.6
-25.3
Income tax
0
0
Net income
-36.6
-25.1
EBITDA
-27.4
-20.9
EPS, basic
-48.16
-1.51
EPS, diluted
-48.16
-1.51
Shares, basic (weighted)
0.76
16.6
Shares, diluted (weighted)
0.76
16.6
Dividend per share
0.00
Balance sheet
FY2024
FY2025
Cash and equivalents
1.38
17.1
Receivables
0.07
Inventory
3.32
1.67
Other current assets
0.18
0.32
Total current assets
5.19
20.1
Property, plant and equipment
1.49
1.54
Lease right-of-use assets
0.13
0.7
Goodwill
0
14
Intangible assets
0
6.97
Other non-current assets
0.02
0
Total assets
6.83
43.3
Accounts payable
3.83
1.08
Accrued liabilities
3.05
7
Total current liabilities
47.2
8.23
Lease liabilities
0.05
0.56
Other non-current liabilities
0.01
Total liabilities
47.4
30.9
Total debt
38.3
21
Paid-in capital
1.61
108
Retained earnings
-134
-95.6
Other comprehensive income
0.02
-0.1
Shareholders' equity
-132
12.4
Total equity
-132
12.4
Total liabilities and equity
6.83
43.3
Shares outstanding
0.78
22.2
Cash flow statement
FY2024
FY2025
Net income
-36.6
-25.1
Depreciation and amortization
0.53
0.97
Stock-based compensation
0.44
1.48
Change in receivables
-0.07
0.04
Change in inventory
-2.98
0.93
Change in payables
2.82
-1.76
Cash from operations
-25.7
-19
Capital expenditures
-0.33
-0.37
Cash from investing
-0.34
-0.37
Stock issued
0.02
16.1
Cash from financing
21.9
16.1
Net change in cash
-4.16
-3.48
Free cash flow
-26
-19.4
Interest paid
0.21
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.20 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-80.1%
Net income / average total assets.
Return on invested capital (ROIC)
-94.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.41x
Current assets / current liabilities.
Quick ratio
1.02x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.02x
(Cash + short-term investments) / current liabilities.
Debt / assets
73.3%
Total debt / total assets.
Liabilities / assets
101.2%
Total liabilities / total assets.
Net debt
$17.1M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.00
Revenue / diluted weighted shares.
FCF per share
-$0.75
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.74
Cash from operations / diluted weighted shares.
Book value per share
-$0.02
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
FCF yield
-382.6%
Free cash flow / market cap.
Earnings yield
-626.5%
Net income / market cap (the inverse of P/E).
What was Adagio Medical Holdings, Inc.'s revenue in fiscal 2025?
Adagio Medical Holdings, Inc. reported revenue of $0.0 for fiscal 2025, 100% lower than the year before.
Was Adagio Medical Holdings, Inc. profitable in fiscal 2025?
No. It reported a net loss of $25.1M.
How much free cash flow did Adagio Medical Holdings, Inc. generate in fiscal 2025?
Cash from operations of $19.0M minus capital expenditures of $374.0K left free cash flow of -$19.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.