Adagio Medical Holdings Reports Q2 GAAP EPS of -$0.35, Down from $0.7 Million in Q2 2024

Adagio Medical Holdings reported Q2 GAAP EPS of -$0.35. The company's cost of revenue decreased to $0.3 million from $0.7 million YoY.

Adagio Medical Holdings, Inc. (NASDAQ: ADGM) has released its second-quarter (Q2) financial results for the period ended June 30, 2025. The company reported a GAAP earnings per share (EPS) of -$0.35, indicating a net loss for the quarter. This marks an improvement from the previous quarter's net loss of -$0.73 per share [1].

Key financial highlights include a significant decrease in the cost of revenue, which dropped to $0.3 million from $0.7 million year-over-year (YoY). This reduction is likely driven by the company's ongoing corporate prioritization initiative aimed at streamlining operations and focusing resources on high-value programs [2].

Research and development (R&D) expenses also decreased, falling to $2.0 million from $2.9 million YoY. This suggests a focus on optimizing R&D spending while maintaining progress on critical projects. Selling, general, and administrative expenses (SG&A) declined to $2.4 million from $3.4 million YoY, reflecting the company's efforts to reduce overhead costs.

Adagio Medical Holdings is a leading innovator in catheter ablation technologies for treating cardiac arrhythmias. The company's proprietary Ultra-Low Temperature Cryoablation (ULTC) technology is designed to create large, durable lesions through the depth of both diseased and healthy cardiac tissue. The company's vCLAS™ Cryoablation System, which is CE Marked and under evaluation in the FULCRUM-VT U.S. IDE Pivotal Study, is a key focus area.

The company's FULCRUM-VT study, which seeks to enroll 206 patients with either ischemic or non-ischemic drug-refractory, recurrent, sustained monomorphic ventricular tachycardia (VT), is on track for completion of patient enrollment in the second half of 2025. This study is crucial for applying for FDA premarket approval (PMA) for the vCLAS™ Cryoablation System, potentially leading to the broadest industry indication for purely endocardial ablation of scar-mediated VT [2].

Adagio Medical Holdings' reported cash and cash equivalents as of June 30, 2025, stood at $8.2 million. The company's forward-looking statements highlight the potential for its proprietary ULTC solutions to be brought to patients in the United States suffering from VT and the ability to improve usability for physicians. However, these statements are subject to various risks and uncertainties, including the ability to bring products to market and the potential for regulatory approval [2].

References:
[1] Seeking Alpha. (2025, July 02). Adagio Medical Holdings, Inc. GAAP EPS of -$0.35. Retrieved from https://seekingalpha.com/news/4485036-adagio-medical-holdings-inc-gaap-eps-of-0_35
[2] Yahoo Finance. (2025, August 13). Adagio Medical Reports Second Quarter 2025 Financial Results. Retrieved from https://finance.yahoo.com/news/adagio-medical-reports-second-quarter-203000087.html