Adagene (ADAG) Financial Statements & Analysis

Adagene (ADAG) Income Statement

Adagene reported revenue of $7.67M in fiscal 2025 (fiscal year ended Mar 31, 2026), up 7332.8% from $103.20K a year earlier. Adagene posted a net loss of $17.61M, compared with a net loss of $33.42M a year earlier. Gross margin was 100.0% and operating margin -279.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $1.62M.

Adagene Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Adagene Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2020	FY 2019	FY 2018
Period ending	Mar 2026	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Mar 2022	Dec 2021	Mar 2021	Dec 2020	Dec 2019	Dec 2018
Revenue & Gross Profit
Revenue	7.67	7.67	0.10	18.11	9.29	10.18	10.18	0.48	0.70	0.48	1.51
Cost of Revenue	0.00	-	0.93	0.00	0.00	0.00	-	0.00	-	0.00	0.00
Gross Profit	7.67	7.67	0.10	18.11	9.29	10.18	10.18	0.48	0.70	0.48	1.51
Operating Expenses
Research & Development	22.03	21.98	28.76	36.64	81.30	68.10	68.10	16.21	33.54	16.21	16.08
Selling, General & Administrative	7.08	7.13	7.30	8.67	11.91	14.44	14.44	3.44	10.31	3.44	2.77
Operating Expenses	29.11	29.11	36.05	41.83	93.21	82.54	82.54	19.65	43.85	19.65	18.85
Operating Income	-21.44	-21.44	-35.95	-23.72	-83.92	-72.36	-72.36	-19.17	-43.15	-19.17	-17.33
Other Income/Expense
Interest Income	2.30	2.30	3.80	4.28	0.38	0.08	0.08	0.63	0.63	0.92	0.71
Interest Expense	0.46	-0.46	-0.85	1.11	-0.69	0.36	-0.36	0.20	-0.20	0.14	0.09
Other Income/Expense	3.53	3.53	2.51	6.46	4.41	0.89	0.89	0.75	0.97	2.74	2.07
Income
Income Before Tax	-17.91	-17.91	-33.44	-17.25	-79.51	-71.48	-71.48	-16.43	-42.40	-16.43	-15.27
Income Tax Expense	-0.30	0.30	0.02	1.69	-0.46	1.70	-1.70	0.00	-	0.00	-0.55
Net Income	-17.61	-17.61	-33.42	-18.95	-79.97	-73.18	-73.21	-16.44	-42.40	-17.29	-14.72
Net Income - Continuous Operations	-17.61	-17.61	-33.42	-18.95	-79.97	-73.18	-73.18	-16.44	-	-17.29	-14.72
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-16.85	-21.00	-35.23	-14.95	-82.77	-69.99	-71.24	-41.34	-42.29	-15.48	-14.27
EBIT	-	-21.44	-35.95	-23.72	-83.92	-	-72.36	-	-43.15	-	-
Depreciation & Amortization	0.59	0.44	0.72	1.21	1.15	1.13	1.13	0.86	0.86	0.82	0.91
Earnings Per Share
Basic EPS	-	-	-1.00	-1.00	-2.00	-2.00	-2.00	-1.00	-3.00	-	-2.00
Diluted EPS	-	-	-1.00	-1.00	-2.00	-2.00	-2.00	-1.00	-3.00	-	-2.00
Basic Shares Outstanding	37.76	47.20	45.03	34.64	43.31	32.02	40.03	28.07	12.76	35.33	9.70
Diluted Shares Outstanding	37.76	47.20	45.03	35.03	43.31	32.02	40.03	28.07	12.76	35.33	9.70

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Adagene Financial Statements

What was Adagene's revenue in fiscal 2025?

Adagene reported revenue of $7.67M in fiscal 2025 (fiscal year ended Mar 31, 2026). That was up 7332.8% from $103.20K a year earlier.

Is Adagene profitable?

No. Adagene reported a net loss of $17.61M in fiscal 2025. In fiscal 2024 it lost $33.42M.

What is Adagene's operating margin?

Adagene's operating income was −$21.44M on revenue of $7.67M in fiscal 2025, an operating margin of -279.5%, compared with -34835.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition