Filing Flows › ADC Therapeutics SA (ADCT) › Q3 2025
ADC Therapeutics SA (ADCT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
ADC Therapeutics SA (ADCT) reported revenue of $16.4M for the third quarter 2025 (Q3 2025), -11% from a year earlier and -13% from the quarter before. Operating margin was -188.5%, net loss $41.0M (249.4% of revenue).
ADC Therapeutics SA, Q3 2025: revenue $16.4M (-11% year over year), operating margin -188.5%, net loss $41.0M, operating cash flow −$29.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.4M | -13% | -11% |
| Operating profit | −$31.0M | — | — |
| Net earnings | −$41.0M | — | — |
| Operating cash flow | −$29.6M | — | — |
What changed
Revenue was $16.4M in Q3 2025, down 11% year over year and down 13% from the previous quarter. Product revenues, net was the largest line at 96% of revenue. Product revenues, net lost $2.3M year over year (down 13%), 111% of the total change.
Operating costs exceeded revenue by $31.0M, an operating margin of -188.5%. Total costs fell 12% while revenue fell 11%. The fastest-growing cost line was Other operating costs (+86%). The quarter ended with a net loss of $41.0M, narrower than the previous quarter's $56.6M loss.
Operating cash flow was −$29.6M. Non-cash charges added back $2.0M of share-based compensation. Working capital and other items added $9.3M.
Questions
What was ADC Therapeutics SA's revenue in the third quarter 2025?
ADC Therapeutics SA (ADCT) reported revenue of $16.4M for the third quarter 2025 (Q3 2025), -11% from a year earlier and -13% from the quarter before.
Was ADC Therapeutics SA profitable in the third quarter 2025?
Operating loss was $31.0M (-188.5% of revenue) and net loss $41.0M.