Saturday 17 October 2026 Export ADAPY’s income statement to Excel — free account

Adaptimmune Therapeutics PLC

Adaptimmune Therapeutics PLC’s revenue for fiscal 2025 (year ended December 2025) was $5.9 million, down 96.7% from fiscal 2024. In the quarter to June 2025, revenue fell 89.3%, EPS fell 140.7% and free cash flow fell 174.7%, each against the same quarter a year earlier.

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Market cap: $14.6M
P/E: 0.0×
Fwd P/E: −0.1×
Dividend yield: —
F-score: 4/9
Altman Z: −23.33
Beneish M: 16.71
Dividend safety: n/a

Overview Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 3.29%

Capital & Financial Ratios $m

Market Cap 14.55

Revenue 65.09

Net Income (159.24)

Free Cash Flow (187.58)

Net Debt (0.39)

Current Ratio 1.52

Debt/Equity (0.36)

P/E ratio 0.00

Fwd P/E (0.10)

P/S ratio 0.12

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth (60.00%)

Next Y EPS Growth (136.67%)

Next Y revenue growth 1,114.89%

Next 5Y EPS Growth (11.87%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 6.62%

10-year low 10-year high

EV/Sales against its own 10 years 8.61%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2022	2023	2024	2025
Cash	205	147	152	26
Receivables	7	1	14	10
Inventory	—	—	7	—
Other	43	60	14	9
	255	208	187	45

	2022	2023	2024	2025
Payables	5	8	41	17
ST’ Debt	—	—	—	—
Other	2	—	7	1
	65	73	65	22

Compound Annual Growth %

	10y	5y	3y
Sales	(5.78%)	8.40%	(39.80%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(18.91%)	(37.72%)	(26.91%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	7	14	—	—	6
’24	6	128	41	3	178
’23	48	5	7	0	60
’22	4	6	7	11	27
’21	0	3	1	1	6
’20	1	1	1	2	4

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	(67)	(35)	—	—	(122)
’24	(32)	47	(54)	(30)	(69)
’23	(37)	(44)	(45)	(15)	(141)
’22	(54)	(41)	(48)	2	(142)
’21	(47)	(31)	(45)	134	11
’20	17	(25)	(16)	(29)	(54)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	(68)	(35)	—	—	(122)
’24	(32)	47	(55)	(30)	(71)
’23	(40)	(45)	(45)	(16)	(146)
’22	(62)	(50)	(58)	(1)	(172)
’21	(48)	(33)	(47)	130	2
’20	17	(25)	(17)	(30)	(56)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	(0.18)	(0.11)	—	—	0.12
’24	(0.18)	0.27	(0.07)	(0.29)	(0.28)
’23	0.01	(0.12)	(0.20)	(0.24)	(0.54)
’22	(0.32)	(0.28)	(0.24)	(0.18)	(1.02)
’21	(0.24)	(0.24)	(0.27)	(0.25)	(1.02)
’20	(0.24)	(0.24)	(0.23)	(0.24)	(0.90)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	3.76	3.88	3.60	0.71	1.15	3.37	1.01	0.42	0.53	0.02	Analyst estimates 2026–2028 Powerpack
	High	12.85	9.29	14.63	6.31	13.40	7.34	4.12	2.35	2.05	0.69
People
People	Employees	298	371	430	400	462	494	534	449	506	272
	Revenue/emp, $m	0.05	0.10	0.14	0.00	0.01	0.01	0.05	0.13	0.35	0.02
Income, $m
Income, $m	Revenue	14	38	60	1	4	6	27	60	178	6
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	99.96	100.00
	EBT	(71)	(70)	(95)	(137)	(130)	(157)	(163)	(113)	(183)	(78)
	EBT margin, %	(497.87)	(184.20)	(159.68)	(12,203.48)	(3,282.72)	(2,558.12)	(600.26)	(186.68)	(102.75)	(1,316.78)
	Net income	(72)	(70)	(96)	(137)	(130)	(158)	(165)	(114)	(78)	30
	Depreciation	3	5	8	8	8	7	6	10	16	17
Per share, $
Per share, $	Revenue	0.20	0.43	0.61	0.01	0.03	0.04	0.17	0.30	0.71	0.02
	Earnings	(1.01)	(0.80)	(0.96)	(1.32)	(0.90)	(1.02)	(1.02)	(0.54)	(0.28)	0.12
	Cash flow	(0.68)	(0.62)	(1.07)	(1.07)	(0.38)	0.07	(0.88)	(0.70)	(0.27)	(0.46)
	Capex	(0.18)	(0.28)	(0.05)	(0.03)	(0.02)	(0.06)	(0.18)	(0.02)	(0.01)	0.00
	Free cash flow	(0.86)	(0.90)	(1.12)	(1.10)	(0.40)	0.01	(1.06)	(0.72)	(0.28)	(0.46)
	Book value	2.35	2.31	2.54	1.18	2.40	1.32	0.51	0.20	0.05	0.12
	Shares, m	71	88	97	105	142	156	161	201	252	263
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	20.54	16.50	9.41	48.43	194.01	95.02	9.92	2.50	0.77	0.12
	P/B	1.76	3.08	2.27	1.02	2.25	2.84	3.29	3.82	10.45	0.00
	EV/Sales	7.76	11.00	5.96	22.83	106.27	38.68	3.13	0.40	0.20	0.12
	EV/FCF	(1.81)	(5.28)	(3.25)	(0.51)	(7.44)	122.09	(0.50)	(0.17)	(0.49)	(0.04)
Cash, $m
Cash, $m	Operating cash flow	(48)	(54)	(104)	(113)	(54)	11	(142)	(141)	(69)	(122)
	Capex	(13)	(24)	(5)	(3)	(3)	(9)	(30)	(5)	(2)	0
	Free cash flow	(61)	(79)	(109)	(116)	(56)	2	(172)	(146)	(71)	(122)
Balance, $m
Balance, $m	Working capital	158	156	207	86	359	353	191	135	122	23
	Total debt	—	—	—	23	21	23	20	—	50	—
	Net debt	(181)	(208)	(205)	(67)	(347)	(346)	(184)	(147)	(101)	(26)
	Shareholders’ equity	166	203	247	124	341	206	82	40	13	32
Returns, %
Returns, %	ROA	(26.71)	(27.20)	(34.24)	(59.86)	(41.12)	(34.34)	(41.44)	(37.24)	(27.17)	16.27
	ROIC	0.00	0.00	(123.30)	(153.09)	0.00	0.00	0.00	0.00	0.00	(753.70)
	ROE	(33.58)	(38.00)	(42.46)	(74.04)	(55.97)	(57.78)	(114.96)	(187.61)	(273.57)	112.01

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2025

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GTBP GT Biopharma, Inc.	$15.2M	— (loss-making)	—	−100.00% (below 0%: shrinking)	n/m	−41.34% (below 0%: shrinking)	0.00%	0.00%	Compare
DARE Dare Bioscience, Inc.	$14.6M	— (loss-making)	— (loss-making)	+984.43% (above 0%: growing)	n/m	−30.23% (below 0%: shrinking)	(70.56%)	(1,582.93%)	Compare
ADAPY Adaptimmune Therapeutics PLC	$14.6M	— (loss-making)	— (loss-making)	−89.33% (below 0%: shrinking)	n/m	−174.72% (below 0%: shrinking)	81.71%	(221.45%)
CNSY Cerenome, Inc.	$14.3M	— (loss-making)	— (loss-making)	−70.43% (below 0%: shrinking)	n/m	−31.46% (below 0%: shrinking)	100.00%	(2,203.65%)	Compare
TVRD Tvardi Therapeutics, Inc.	$14.3M	— (loss-making)	— (loss-making)	+20.33% (above 0%: growing)	n/m	−57.26% (below 0%: shrinking)	100.00%	0.00%	Compare
CLVSQ Clovis Oncology, Inc.	$14.2M	— (loss-making)	— (loss-making)	−19.13% (below 0%: shrinking)	n/m	+11.83% (above 0%: growing)	71.93%	(144.26%)	Compare
BCDA BioCardia, Inc.	$14.2M	— (loss-making)	— (loss-making)	−93.02% (below 0%: shrinking)	n/m	−5.15% (below 0%: shrinking)	100.00%	0.00%	Compare
RVLP RVL Pharmaceuticals PLC	$14.1M	— (loss-making)	— (loss-making)	−2.25% (below 0%: shrinking)	n/m	−734.24% (below 0%: shrinking)	76.43%	(266.66%)	Compare
LPCN Lipocine Inc.	$13.9M	— (loss-making)	— (loss-making)	−69.48% (below 0%: shrinking)	n/m	−60.56% (below 0%: shrinking)	100.00%	(1,495.11%)	Compare
Median of peers	$14.3M	—	—	−44.30%	—	−36.40%	88.22%	(205.46%)

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Adaptimmune Therapeutics PLC (ADAPY) key facts

Concern: Adaptimmune Therapeutics PLC’s revenue for fiscal 2025 (year ended December 2025) was $5.9 million, down 96.7% from fiscal 2024.
Adaptimmune Therapeutics PLC (ADAPY) is a Biotechnology company in the Healthcare sector, traded in the US as an ADR.
As of October 16, 2026, ADAPY traded at $0.03, a market capitalization of $14.6 million.
Return on equity was 112.0% and debt-to-equity -0.36.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −23.33 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.