← Adagene Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net Income From Continuing Operations | — | ($16.4m) | ($42.4m) | ($73.2m) | ($80.0m) | ($18.9m) | ($33.4m) | ($17.6m) | ($17.6m) | |
| Net loss | ($15.3m) | ($16.4m) | ($42.4m) | ($73.2m) | ($80.0m) | ($18.9m) | ($33.4m) | ($17.6m) | — | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | ($16.7m) |
($42.6m)
-155.69%
|
($73.2m)
-71.66%
|
($80.0m)
-9.24%
|
($18.9m)
+76.31%
|
($33.4m)
-76.41%
|
($17.6m)
+47.32%
|
— | |
| Depreciation, Depletion and Amortization | $909k | $817k | $858k | $1.1m | $1.1m | $980k | $723k | $439k | $590k | |
| Amortization of right-of use assets and interest of lease liabilities | — | — | — | — | $304k | $228k | $216k | $151k | — | |
| Depreciation Amortization Depletion | — | — | — | — | $1.4m | $1.2m | $939k | $590k | $590k | |
| Deferred Income Tax Expense (Benefit) | — | — | — | $44k | ($44k) | — | — | — | — | |
| Share-based Payment Arrangement, Noncash Expense | — | $612k | $10.1m | $18.7m | $10.5m | $7.3m | $4.9m | $3.7m | $3.7m | |
| Share-based Payment Arrangement, Expense | — | $612k | $10.1m | $18.7m | $10.5m | $7.3m | $4.9m | $3.7m | $3.7m | |
| Share-based compensation | $127k | $612k | $10.1m | $18.7m | $10.5m | $7.3m | $4.9m | $3.7m | $3.7m | |
| Changes in operating assets and liabilities: | ||||||||||
| Change In Working Capital | — | — | — | — | $21.9m | ($16.6m) | ($1.9m) | ($775k) | ($775k) | |
| Increase (Decrease) in Accounts Receivable | — | $480k | ($480k) | $3.0m | ($3.0m) | — | — | — | ($9k) | |
| Change In Receivables | — | — | — | — | $6.9m | $397k | $214k | ($9k) | ($9k) | |
| Changes In Account Receivables | — | — | — | ($3.0m) | $3.0m | $0 | $0 | — | ($9k) | |
| Increase (Decrease) in Accounts Payable | $389k | $154k | $1.1m | $1.5m | $345k | ($572k) | $1.1m | ($1.4m) | ($1.4m) | |
| Change In Payables And Accrued Expense | — | — | — | — | $6.7m | ($3.3m) | ($2.6m) | ($3.9m) | ($1.4m) | |
| Change In Accrued Expense | — | — | — | — | ($824k) | ($122k) | ($185k) | ($70k) | ($70k) | |
| Prepayments and other current assets | ($1.3m) | $112k | ($2.3m) | ($231k) | ($881k) | $1.6m | $724k | ($271k) | — | |
| Accruals and other current liabilities | ($913k) | ($34k) | $1.2m | $1.1m | ($824k) | ($122k) | ($185k) | ($70k) | — | |
| Change In Other Current Assets | — | — | — | — | ($40k) | $25k | $3k | $56k | $56k | |
| Change In Other Current Liabilities | — | — | — | — | ($310k) | ($266k) | ($220k) | ($151k) | ($151k) | |
| Net Cash Provided by (Used in) Operating Activities | ($14.3m) |
($18.2m)
-27.26%
|
($28.5m)
-57.16%
|
($43.4m)
-52.17%
|
($48.6m)
-11.97%
|
($28.5m)
+41.47%
|
($29.7m)
-4.38%
|
($15.7m)
+47.28%
|
($15.7m)
0.00%
|
|
| Cash flows from investing activities: | ||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | $5k | $2k | ($327) | ($19k) | $5k | $8k | $169 | $1k | ($1.4m) | |
| Purchase of property, equipment and software | ($515k) | ($152k) | ($935k) | ($2.5m) | ($691k) | ($85k) | ($34k) | ($17k) | — | |
| Income related to short-term investments | — | — | — | — | — | — | ($1.1m) | ($492k) | — | |
| Placement of short-term investments | ($58.0m) | ($19.0m) | — | — | — | ($47.0m) | ($128.5m) | ($80.0m) | — | |
| Withdrawal of short-term investments | $29.0m | $44.0m | $8.0m | — | — | $47.0m | $129.6m | $80.5m | — | |
| Net cash generated from (used in) investing activities | ($29.5m) | $24.9m | $7.1m | ($2.5m) | ($686k) | ($77k) | $1.1m | $477k | — | |
| Net Cash Provided by (Used in) Investing Activities | — | $24.9m | $7.1m | ($2.5m) | ($686k) | ($77k) | $1.1m | $477k | $477k | |
| Cash flows from financing activities: | ||||||||||
| Proceeds from borrowings | $2.4m | $2.7m | $6.1m | $4.4m | $25.8m | $8.1m | $4.9m | $5.6m | — | |
| Repayment of borrowings | ($1.4m) | ($2.4m) | ($1.1m) | ($5.1m) | ($4.4m) | ($13.5m) | ($8.3m) | ($17.9m) | — | |
| Issuance Of Debt | — | — | — | — | $25.8m | $8.1m | $4.9m | $5.6m | $5.6m | |
| Long Term Debt Issuance | — | — | — | — | $25.8m | $8.1m | $4.9m | $5.6m | $5.6m | |
| Net Issuance Payments Of Debt | — | — | — | — | $21.5m | ($5.4m) | ($3.4m) | ($12.2m) | ($12.2m) | |
| Net Long Term Debt Issuance | — | — | — | — | $21.5m | ($5.4m) | ($3.4m) | ($12.2m) | ($12.2m) | |
| Long Term Debt Payments | — | — | — | — | ($4.4m) | ($13.5m) | ($8.3m) | ($17.9m) | ($17.9m) | |
| Repayment Of Debt | — | — | — | — | ($4.4m) | ($13.5m) | ($8.3m) | ($17.9m) | ($17.9m) | |
| Issuance Of Capital Stock | — | — | — | — | $0 | $0 | $7.3m | $16.6m | $16.6m | |
| Repurchase Of Capital Stock | — | — | — | ($2.4m) | ($4.0m) | $0 | $0 | — | $0 | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | — | $7.3m | — | $0 | |
| Common Stock Issuance | — | — | — | — | $0 | $0 | $7.3m | $0 | $0 | |
| Payments for Repurchase of Common Stock | — | — | — | $2.4m | $4.0m | — | — | — | — | |
| Common Stock Payments | — | — | — | ($2.4m) | ($4.0m) | $0 | $0 | — | $0 | |
| Net Other Financing Charges | — | — | — | ($1.6m) | — | — | ($316k) | — | ($316k) | |
| Net cash generated from (used in) financing activities | $51.1m |
$69.7m
+36.50%
|
$4.4m
-93.63%
|
$145.4m
+3174.27%
|
$17.8m
-87.74%
|
($5.4m)
-130.11%
|
$3.8m
+170.23%
|
$4.4m
+17.94%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | — | $69.7m |
$4.4m
-93.63%
|
$145.4m
+3174.27%
|
$17.8m
-87.74%
|
($5.4m)
-130.11%
|
$3.8m
+170.23%
|
$4.4m
+17.94%
|
$4.4m
0.00%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $76.5m | ($17.4m) | $99.2m | ($30.6m) | ($33.8m) | ($24.7m) | ($10.7m) | $74.5m | |
| Beginning Cash Position | — | — | — | — | $174.4m | $143.8m | $109.9m | $85.2m | $85.2m | |
| Cash and cash equivalents at the beginning of year | $16.1m | $92.5m | $75.2m | $174.4m | $143.8m | $109.9m | $85.2m | $74.5m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $92.5m | $75.2m | $174.4m | $143.8m | $109.9m | $85.2m | $74.5m | $74.5m | |
| Effect of exchange rate on cash and cash equivalents | $39k | $78k | ($364k) | ($192k) | $842k | $75k | $82k | $65k | — | |
| Effect Of Exchange Rate Changes | — | — | — | — | $842k | $75k | $82k | $65k | $65k | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Income Tax Expense (Benefit) | — | — | — | $1.7m | $459k | $1.7m | ($18k) | ($298k) | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | $852k | $463k | — | |
| Right-of-use assets obtained in exchange for operating lease obligations | — | — | — | — | $217k | $180k | $215k | — | — | |
| Additional Financial Items | ||||||||||
| Proceeds from Stock Options Exercised | — | $460k | $141k | $232k | $323k | $6k | $178k | $138k | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | $22k | ($645k) | ($603k) | $2.6m | $1.4m | ($906k) | $1.3m | — | |
| General and Administrative Expense | — | $3.4m | $10.3m | $14.4m | $11.9m | $8.7m | $7.3m | $7.1m | — | |
| Investment Income, Interest | — | — | — | — | — | — | $3.8m | $2.3m | — | |
| Proceeds from Contributed Capital | — | — | — | $381k | — | — | — | — | — | |
| Foreign exchange loss (gain), net | ($13k) | ($22k) | $645k | $603k | ($2.6m) | ($1.4m) | $906k | ($1.3m) | — | |
| Change in fair value of warrant liabilities | ($534k) | ($1.2m) | $0 | — | — | — | — | ($48k) | — | |
| Amount due from related parties | $269k | ($704k) | $1.3m | ($4.4m) | $3.9m | $397k | $214k | ($9k) | — | |
| Other non-current assets | ($29k) | ($38k) | ($13k) | ($24k) | ($40k) | $25k | $3k | $56k | — | |
| Contract liabilities | — | $993k | ($268k) | $4.8m | $9.6m | ($15.1m) | — | $3.5m | — | |
| Amount due to related parties | $2.1m | ($1.8m) | $640k | $7.9m | $8.9m | ($2.6m) | ($3.5m) | ($2.8m) | — | |
| Lease liabilities | — | — | — | — | ($280k) | ($237k) | ($220k) | ($151k) | — | |
| Income tax payable | — | — | — | $1.7m | ($1.7m) | $53k | ($48k) | $405k | — | |
| Other non-current liabilities | — | ($142k) | $92k | — | ($30k) | ($28k) | — | — | — | |
| Proceeds from exercise of share options | — | $460k | $141k | $232k | $323k | $6k | $178k | $138k | — | |
| Payment of the ATM Offering setup costs | — | — | ($722k) | ($1.6m) | — | — | ($316k) | — | — | |
| Retirement of treasury shares | — | — | — | $1.7m | $4.6m | — | $4 | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | $17.8m | ($5.4m) | $3.8m | $4.4m | $4.4m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | ($686k) | ($77k) | $1.1m | $477k | $477k | |
| Change In Account Payable | — | — | — | — | $345k | ($572k) | $1.1m | ($1.4m) | ($1.4m) | |
| Change In Other Working Capital | — | — | — | $4.8m | $9.6m | ($15.1m) | — | $3.5m | $3.5m | |
| Change In Payable | — | — | — | — | $7.5m | ($3.1m) | ($2.4m) | ($3.8m) | ($1.4m) | |
| Change In Prepaid Assets | — | — | — | — | ($881k) | $1.6m | $724k | ($271k) | ($271k) | |
| Change In Tax Payable | — | — | — | — | ($1.7m) | $53k | ($48k) | $405k | $405k | |
| Changes In Cash | — | — | — | — | ($31.5m) | ($33.9m) | ($24.8m) | ($10.7m) | ($10.7m) | |
| End Cash Position | — | — | — | — | $143.8m | $109.9m | $85.2m | $74.5m | $74.5m | |
| Financing Cash Flow | — | — | — | — | $17.8m |
($5.4m)
-130.11%
|
$3.8m
+170.23%
|
$4.4m
+17.94%
|
$4.4m
0.00%
|
|
| Free Cash Flow | — | — | — | — | ($49.3m) | ($28.5m) | ($29.7m) | ($15.7m) | ($15.7m) | |
| Gain Loss On Sale Of PPE | — | — | — | — | $7k | $9k | $2k | $1k | $1k | |
| Investing Cash Flow | — | — | — | — | ($686k) | ($77k) | $1.1m | $477k | $477k | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | — | ($2.6m) | ($1.4m) | $906k | ($1.3m) | ($1.3m) | |
| Net PPE Purchase And Sale | — | — | — | — | ($686k) | ($77k) | ($33k) | ($16k) | ($16k) | |
| Net Preferred Stock Issuance | — | — | — | $0 | — | $0 | $0 | $16.6m | $16.6m | |
| Operating Gains Losses | — | — | — | — | ($2.5m) | ($1.4m) | $909k | ($1.4m) | ($1.4m) | |
| Other Non Cash Items | — | — | — | ($10k) | — | — | ($1.1m) | ($239k) | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | $323k | $6k | $178k | $138k | $138k | |
| Purchase Of PPE | — | — | $935k | $2.5m | ($691k) | ($85k) | ($34k) | ($17k) | ($17k) | |
| Sale Of PPE | — | — | — | — | $5k | $8k | $169 | $1k | $1k | |
| Stock Based Compensation | — | — | — | — | $10.5m | $7.3m | $4.9m | $3.7m | $3.7m | |
| Net Investment Purchase And Sale | — | — | — | — | $0 | $0 | $1.1m | $492k | $492k | |
| Purchase Of Investment | — | — | — | — | $0 | ($47.0m) | ($128.5m) | ($80.0m) | ($80.0m) | |
| Sale Of Investment | — | — | — | — | $0 | $47.0m | $129.6m | $80.5m | $80.5m | |
| Net decrease in cash and cash equivalents | $7.3m | $76.5m | ($17.4m) | $99.2m | ($30.6m) | ($33.8m) | ($24.7m) | ($10.7m) | — | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | ($30.6m) | ($33.8m) | ($24.7m) | ($10.7m) | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $91k | $142k | $202k | $360k | $604k | $1.0m | $779k | $403k | — | |
| Income Taxes Paid, Net | — | — | — | — | $2.4m | $1.4m | $34k | $2k | — |