ADC Therapeutics SA Announces Fourth Quarter and Full Year 2025 Financial Results

Key Points from the Report

• Date of Report: March 10, 2026
• Company: ADC Therapeutics SA
• Trading Symbol: ADCT
• Exchange: New York Stock Exchange (NYSE)
• Security: Common Shares, par value CHF 0.08 per share
• Chief Financial Officer: Jose Carmona
• Press Release: Full financial results and company update issued for Q4 and year ended Dec 31, 2025

Detailed Financial Highlights

ADC Therapeutics SA reported its financial results for the fourth quarter and the full fiscal year 2025, with the following key financial metrics:

Condensed Consolidated Statements of Operations (Unaudited)

• Net loss for Q4 2025: \$(13,513) thousand
• Net loss for full year 2025: \$(111,379) thousand
• Net loss per share (basic and diluted): Q4 \$(0.04); Full year \$(1.62)
• Weighted average shares outstanding: 150,301,213 (Q4), 127,067,540 (full year)
• Total shareholders’ (deficit) equity: \$(185,834) thousand (Q4), \$(202,642) thousand (full year)
• Total liabilities and shareholders’ (deficit) equity: \$323,150 thousand

Non-GAAP Financial Measures

The company provides non-GAAP metrics, including:

• Adjusted total operating expenses
• Adjusted net loss
• Adjusted net loss per share

These measures exclude share-based compensation, changes in fair value of warrant obligations, effective interest expense on senior secured term loans, and deferred royalty obligation interest expense. Management believes these metrics provide investors with better insight into ongoing operational performance.

Potential Price-Sensitive Information

• The company continues to report sizable net losses, which could affect investor sentiment and share value.
• Restructuring, impairment, and other related costs were reported at \$348 thousand for Q4, and \$(13,120) thousand for the full year, indicating ongoing operational adjustments.
• Interest income for Q4 was \$2,352 thousand, while interest expense was \$(13,014) thousand for Q4, and \$(11,919) thousand for the full year, highlighting the impact of debt servicing on cash flow.
• Share-based compensation expenses remain a recurring, non-cash cost and are an important part of the company’s compensation strategy.
• Material changes in fair value of warrant obligations and deferred royalty obligations can affect reported net losses and potentially investor perception.
• The company clarified that a reclassification revision was made to the December 31, 2024 unaudited condensed consolidated balance sheet, but this revision was deemed immaterial and had no impact on total assets, operations, equity, or cash flows.
• Forward-looking statements in the press release warn of risks including regulatory submissions, actions by the FDA or foreign regulators, indebtedness, compliance with financial covenants, and uncertainties in international trade policies.

Shareholder Considerations

• ADC Therapeutics SA is not an emerging growth company.
• No written communications, soliciting materials, or pre-commencement tender offers are associated with this filing.
• The company’s continued net losses, debt servicing requirements, and restructuring activities could be material to share price and should be closely monitored by investors.
• Any changes in regulatory status, financing arrangements, or operational cost structures may impact future results and market sentiment.
• Investors should be aware of the forward-looking statements and associated risks, including regulatory, operational, and market uncertainties.
• All financial data is unaudited and subject to revision in future filings.

Additional Information for Investors

A conference call to discuss the results and provide a company update was scheduled for March 10, 2026, at 8:30 a.m. EDT. The webcast is available on the company’s website under “Events & Presentations” in the Investors section, and will remain accessible for 30 days.

Disclaimer

This article is intended for informational purposes only and does not constitute investment advice. The information is based on unaudited financial statements and press releases issued by ADC Therapeutics SA. Investors should perform their own due diligence and consult with financial professionals before making any investment decisions. The company’s forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated. The author assumes no responsibility for investment actions taken based on this article.

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