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ADC Therapeutics SA (ADCT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · ADC Therapeutics SA (ADCT) Q2 2026 earnings results →
Q2 2026 Revenue up 2% year over year to $19.2M · 86¢ of every $1 of revenue lost · operating margin -132.0%
ADC Therapeutics SA made $19.2M in Q2 2026 (+2% Y/Y): Product revenues, net $18.6M, Royalties $614K. Operating margin -132.0%, net loss $16.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $19.2M in Q2 2026, up 2% year over year and down 8% from the previous quarter. Product revenues, net was the largest line at 97% of revenue. Product revenues, net added $549K year over year (up 3%), 134% of the total change. Royalties declined 19%.
Operating costs exceeded revenue by $25.4M, an operating margin of -132.0%. Total costs fell 29% while revenue rose 2%. The fastest-growing cost line was Sales & marketing (+24%). The quarter ended with a net loss of $16.6M, narrower than the previous quarter's $33.0M loss. Non-operating items added $8.8M, -53% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$11.8M. Non-cash charges added back $4.5M of share-based compensation.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $19.2M | +2% | -132.0% | −$16.6M | −$11.8M |
| Q1 2026 | 10-Q | May 4, 2026 | $20.9M | -10% | -121.1% | −$33.0M | −$29.7M |
| Q4 2025 | 10-K | Mar 10, 2026 | $23.1M | +36% | -77.7% | −$6.4M | −$31.1M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $16.4M | -11% | -188.5% | −$41.0M | −$29.6M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $18.8M | +8% | -234.3% | −$56.6M | −$24.1M |
| Q1 2025 | 10-Q | May 14, 2025 | $23.0M | +28% | -123.6% | −$38.6M | −$56.3M |
| Q4 2024 | 10-K | Mar 27, 2025 | $16.9M | +0.7% | -191.8% | −$30.7M | −$21.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- MCK — 39% of its revenue · Stated in 10-K (customer table) · source
- COR — 39% of its revenue · Stated in 10-K (XBRL) · source
- CAH — 22% of its revenue · Stated in 10-K (customer table) · source
About ADC Therapeutics SA
ADC Therapeutics is a commercial-stage global pioneer in the field of antibody drug conjugates (“ADCs”), transforming treatment for patients through our focused portfolio with ZYNLONTA (loncastuximab tesirine-lpyl), a CD19-directed ADC. ZYNLONTA received accelerated approval from the U.S. Food and Drug Administration (“FDA”) and conditional approval from the European Commission, China National Medical Products Administration (“NMPA”) and Health Canada for the treatment of relapsed or refractory DLBCL after two or more lines of systemic therapy.
In its own words, from its 10-K, filed Mar 10, 2026.
ADC Therapeutics SA against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +7%. Operating margin: -132.0% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ADCT ADC Therapeutics SA | Q2 2026 | $19.2M | +2% | -132.0% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: ADC Therapeutics SA 10-Q on SEC EDGAR · CIK 1771910 · Pharmaceutical Preparations
More on ADCT
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results