Adagio Medical 2025 Q3 Earnings Record Net Loss Amid Strategic Progress

Adagio Medical (ADGM) reported fiscal 2025 Q3 results on Nov 12, 2025, marking a significant net loss despite operational advancements. The company’s financial performance fell short of prior-year metrics, with a 380.6% decline in net income. CEO Todd Usen emphasized clinical and regulatory milestones, including a $50 million financing round and pivotal trial data, as key enablers for future growth.

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). The company reported a net loss of $-10.12 million, reflecting a 380.6% deterioration from the net income of $3.61 million in 2024 Q3. The EPS decline indicates a material shift in profitability, underscoring operational challenges despite strategic progress.

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 cumulative percentage change over three years was 17.5%, with an average annual return of approximately 5.8%. This indicates a solid performance, considering the volatility typical of biotech stocks. The success can be attributed to Adagio's innovative medical technology and its strategic positioning in the cardiac arrhythmia treatment market.

CEO Commentary

Todd Usen, Chief Executive Officer of Adagio Medical, highlighted the company’s “exceptional progress” in Q3 2025, emphasizing strong clinical momentum, a clear regulatory path, and a solid pipeline. He noted the successful $50 million private placement, which provides resources to advance the PMA submission for the vCLAS System and prepare for commercialization, reflecting investor confidence in the ULTC technology’s potential to treat a broad patient population with ventricular arrhythmias. The CEO underscored the favorable preliminary FULCRUM-VT trial results (97% acute effectiveness) as a strategic enabler for regulatory and commercial success, signaling an optimistic tone focused on execution of the growth strategy.

Guidance

Adagio expects to use $19 million in upfront proceeds from the private placement to fund FDA submission activities and next-generation catheter development, with an additional $31 million in potential gross proceeds if warrants are exercised. The company anticipates advancing the PMA submission for the vCLAS System following the completed FULCRUM-VT trial enrollment and preliminary data demonstrating 97% acute effectiveness. Forward-looking statements include confidence in the ULTC technology’s regulatory pathway and commercialization potential, though risks related to FDA approval, clinical reproducibility, and financing outcomes are explicitly acknowledged in the filing.

Additional News

Adagio Medical announced the completion of its $50 million private placement, led by healthcare-focused institutional investors, to fund PMA submission and catheter development. The company also finalized enrollment in the 209-patient FULCRUM-VT trial, with preliminary results showing 97% acute effectiveness. Additionally, Deborah Kaster was appointed Chief Financial Officer, strengthening the executive leadership team. These developments underscore the company’s strategic focus on regulatory and commercial milestones in the cardiac arrhythmia treatment market.