Adagio Medical 2025 Q3 Earnings Net Loss Widens 380.6% Amid Strategic Financing

Adagio Medical (ADGM) reported a significant deterioration in Q3 2025 results, swinging to a $0.66 per share loss from $0.18 per share profit in Q3 2024. The company’s net loss expanded to $10.12 million, a 380.6% deterioration from prior-year net income of $3.61 million. Despite the financial setback, Adagio highlighted strategic progress, including a $50 million private placement and completion of its pivotal FULCRUM-VT trial.

Revenue

The total revenue of Adagio Medical decreased by 100.0% to $0 in 2025 Q3, down from $132,000 in 2024 Q3.

Earnings/Net Income

Adagio Medical swung to a loss of $0.66 per share in 2025 Q3 from a profit of $0.18 per share in 2024 Q3 (466.7% negative change). Meanwhile, the company reported a net loss of $-10.12 million in 2025 Q3, reflecting a 380.6% deterioration from the net income of $3.61 million achieved in 2024 Q3. The EPS and net loss figures indicate a significant downturn in profitability.

Price Action

The stock price of Adagio Medical has edged down 0.91% during the latest trading day, has plummeted 15.28% during the most recent full trading week, and has plummeted 55.64% month-to-date.

Post-Earnings Price Action Review

The strategy of buying Adagio Medical (ADGM) shares on the date of its revenue raise announcement and holding for 30 days yielded positive returns. The data reveals an average gain of 12.5% per transaction, with a maximum return of 20.3% and a minimum return of 6.2%. This indicates a favorable short-to-medium-term investment window for this specific event.

CEO Commentary

Todd Usen, Chief Executive Officer of Adagio Medical, highlighted the company’s “exceptional progress” in Q3 2025, emphasizing clinical momentum with the 97% acute effectiveness of the vCLAS™ System in the FULCRUM-VT trial and the completion of its 209-patient enrollment. He underscored the $50 million private placement (with $19 million upfront proceeds) as critical for advancing the FDA PMA submission and next-generation catheter development, calling it a reflection of investor confidence in the “transformational impact” of ULTC technology. Strategic priorities include regulatory execution, commercialization preparation, and leadership strengthening, with Deborah Kaster’s dual role as CFO/CBO reinforcing operational focus. The tone conveyed optimism about the regulatory path and market potential for ventricular arrhythmia treatments.

Guidance

Adagio expects to use private placement proceeds to fund FDA PMA submission activities and next-generation catheter development, with potential for up to $31 million in additional gross proceeds if warrants are exercised. Forward-looking statements include the reproducibility of FULCRUM-VT’s favorable results, FDA approval of the vCLAS™ System, and the system’s potential for the “broadest industry indication” for endocardial ablation of scar-mediated VT. Financial guidance aligns with Q3 2025 results: net loss of $10.1 million (EPS -$0.66) and $4.7 million cash, contrasting with a $4.6 million net loss in Q3 2024. The company anticipates continued R&D and operational expenditures to support regulatory and commercial milestones.

Additional News

Adagio Medical announced the completion of its 209-patient FULCRUM-VT trial, demonstrating 97% acute effectiveness of the vCLAS™ System. The company closed a $50 million private placement, with $19 million in upfront proceeds to advance FDA PMA submission and catheter development. Additionally, Deborah Kaster was appointed as Chief Financial Officer, reinforcing her role as Chief Business Officer to strengthen leadership. These moves underscore the company’s focus on regulatory milestones and operational execution.