ADCT Hisse Senedi Özeti Fiyat, piyasa değeri, P/E, EPS, ROE, borç/öz sermaye, 52 haftalık aralık

03

Fiyat $1.13

Piyasa Değeri (MRQ) $144M

P/E (TTM) -1.9

Hisse Başına Kâr (TTM) $-0.58

Gelir (TTM) $80M

ROE (TTM) 45.3%

D/E Borç/Özsermaye (MRQ) -0.0

52 Haftlık Aralık $1–$5

ADCT Hisse Senedi Fiyat Grafiği Teknik göstergeler ile günlük OHLCV — kaydır, yakınlaştır ve görünümünüzü özelleştirin

04

aralık

çubuklar

Çubuk çözünürlüğü seçilen döneme uyum sağlar — bir çubuk için açılış/yüksek/düşük/kapanış değerlerini görmek için grafiğin üzerine gelin.

10 Yıllık Performans Gelir, net kar, marjlar ve EPS trendleri

06

Gelir$81M

2022-12-31 → 2025-12-31

Hisse Başına Kâr$-1.12

2022-12-31 → 2025-12-31

Serbest Nakit Akışı$-141M

2020-12-31 → 2025-12-31

Net kar marjı-121.8%

2023-12-31 → 2025-12-31

Değerleme ve Oranlar 07–12

Değerleme P/E, P/S, P/B, EV/EBITDA oranları — hisse senedi pahalı mı ucuz mu?

Metrik	ADCT	5Y ort.	Akran Ortalaması	Sonuç
P/E (TTM)	-1.95Y ort. ≈-1.7	≈-1.7	·	·
F/S (TTM)	1.85Y ort. ≈3.4	≈3.4	·	·
F/D (MRQ)	-0.65Y ort. ≈-1.4	≈-1.4	·	·
EV / EBITDA	0.9	·	·	·
Fiyat / Serbest Nakit Akışı (TTM)	-1.45Y ort. ≈-1.9	≈-1.9	·	·
Fiyat / Nakit Akışı (TTM)	-1.45Y ort. ≈-2.0	≈-2.0	·	·
EV / Revenue (EV / Gelir)	-1.4	·	·	·
EV / FCF	0.8	·	·	·

Akran ortalaması, metrik başına standartlaştırılmış bir temelde hesaplanır ve bu hisse senedi için gösterilen TTM/MRQ temelini her zaman eşleşmeyebilir.

Kârlılık Brüt, faaliyet ve net kâr marjları; ROE, ROA, ROIC

Metrik	ADCT	5Y ort.	Akran Ortalaması	Sonuç
Faaliyet Kâr Marjı (TTM)	-125.1%5Y ort. ≈-190.8%	≈-190.8%	·	·
EBITDA Margin (FAVÖK Marjı)	-149.3%5Y ort. ≈-190.8%	≈-190.8%	·	·
Vergi Öncesi Kar Marjı (TTM)	-122.3%5Y ort. ≈-225.1%	≈-225.1%	·	·
Net Kâr Marjı (TTM)	-121.8%5Y ort. ≈-247.8%	≈-247.8%	·	·
ROA (TTM)	-32.3%5Y ort. ≈-43.1%	≈-43.1%	·	·
ROE (TTM)	45.3%5Y ort. ≈32.8%	≈32.8%	·	·
ROIC	66.9%5Y ort. ≈-3.7%	≈-3.7%	·	·

Finansal Sağlık Borç, likidite, solventlik — bilanço gücü

Metrik	ADCT	5Y ort.	Akran Ortalaması	Sonuç
Borç / Öz Sermaye (MRQ)	-0.0	·	·	·
Cari Oran (MRQ)	3.05Y ort. ≈5.0	≈5.0	·	·
Quick Ratio (Cari Oran)	3.75Y ort. ≈4.3	≈4.3	·	·

Büyüme Gelir, EPS ve net gelir büyümesi: YOY, 3 Yıllık CAGR, 5 Yıllık CAGR

Metrik	5 Yıllık trend	ADCT	5Y ort.	Akran Ortalaması	Sonuç
Revenue YoY (Gelir Yıllık Bazda)		14.8%5Y ort. ≈-16.7%	≈-16.7%	·	·
Revenue CAGR 3Y (Gelir 3 Yıllık Bileşik Büyüme Oranı)		-27.1%	·	·	·

Hisse Başı Metrikler Hisse Başı Kâr, hisse başına defter değeri, hisse başına nakit akışı, hisse başına temettü

Metrik	ADCT	5Y ort.	Akran Ortalaması	Sonuç
EPS (Diluted) (Hisse Başına Kar (Seyreltilmiş))	$-1.125Y ort. ≈$-1.92	≈$-1.92	·	·
Revenue / Share (Hisse Başına Gelir)	$0.645Y ort. ≈$0.74	≈$0.74	·	·
Cash Flow / Share (Hisse Başına Nakit Akışı)	$-1.115Y ort. ≈$-1.28	≈$-1.28	·	·
Cash / Share (Hisse Başına Nakit)	$2.085Y ort. ≈$2.67	≈$2.67	·	·

Sermaye Verimliliği Aktif devir hızı, stok devir hızı, alacak devir hızı

Metrik	ADCT	5Y ort.	Akran Ortalaması	Sonuç
Asset Turnover (Aktif Devir Hızı)	0.35Y ort. ≈0.2	≈0.2	·	·
Inventory Turnover (Stok Devir Hızı)	1.85Y ort. ≈0.6	≈0.6	·	·
Revenue / Employee (Çalışan Başına Gelir)	≈$432.8K	·	·	·

değer · ≈ 5Y ort. · sektör ortalaması · ortalamaya göre değerlendirme

Kazanç Geçmişi EPS gerçekleşen vs tahmin, sürpriz %, kazanma oranı, bir sonraki kazanç tarihi

14

Ort. Sürpriz 38.0%

Sonraki Rapor Kas 09, 2026

Dönem	Rapor	EPS Gerçek	EPS Tahmin	Sürpriz
30 Haziran 2026	Ağu 13, 2026	$-0.11	$-0.22	49.1%
31 Mart 2026	May 12, 2026	$-0.13	$-0.22	40.7%
31 Aralık 2025		$-0.04	$-0.27	85.4%
30 Eylül 2025		$-0.30	$-0.37	18.7%
30 Haziran 2025		$-0.38	$-0.48	21.4%
31 Mart 2025		$-0.36	$-0.41	12.5%

Tüm Temeller Tüm metrikler yıla göre — gelir tablosu, bilanço, nakit akışı

15

Gelir Tablosu 17

Metrik	2025	2024	2023	2022
Revenue	$81M	$71M	$70M	$210M
Cost of Revenue	$6M	$6M	$3M	$3M
R&D Expense	$104M	$110M	$127M	$186M
SG&A Expense	$37M	$42M	$48M	$74M
Operating Expenses	$203M	$201M	$236M	$333M
Operating Income	$-121M	$-131M	$-166M	$-123M
Interest Expense	·	$50M	$46M	$37M
Interest Income	$9M	$12M	$11M	$3M
Other Non-op	$23M	$12M	$6M	$53M
Pretax Income	$-142M	$-156M	$-195M	$-147M
Income Tax	$1M	$166.0K	$39M	$227.0K
Net Income	$-143M	$-158M	$-240M	$-157M
EPS (Basic)	$-1.12	$-1.62	$-2.94	$-2.01
EPS (Diluted)	$-1.12	$-1.62	$-2.94	$-2.01
Shares (Basic)	127,067,540	97,159,966	81,712,166	78,152,964
Shares (Diluted)	127,067,540	97,159,966	81,712,166	78,152,964
EBITDA	$-121M	$-131M	$-166M	$-124M

Bilanço 28

Metrik	2025	2024	2023	2022
Cash & Equivalents	$261M	$251M	$279M	$326M
Receivables	·	·	·	$73M
Inventory	$4M	$2M	$16M	$12M
Prepaid Expense	$6M	$8M	$10M	$23M
Other Current Assets	$6M	$9M	$6M	·
Current Assets	$306M	$291M	$336M	$435M
PP&E (Net)	$0	$5M	$6M	$3M
PP&E (Gross)	$1M	$10M	$10M	$7M
Accum. Depreciation	$1M	$5M	$4M	$3M
Intangibles	·	·	·	$14M
Other Non-current Assets	$1M	$1M	$711.0K	$902.0K
Total Assets	$323M	$322M	$355M	$491M
Accounts Payable	$9M	$18M	$16M	$12M
Accrued Liabilities	$58M	$62M	$52M	$68M
Current Liabilities	$70M	$80M	$68M	$82M
Capital Leases	$1M	$8M	$10M	$7M
Deferred Tax	$789.0K	$2M	$1M	$4M
Other Non-current Liabilities	$3M	$2M	$9M	$838.0K
Total Liabilities	$509M	$525M	$503M	$411M
Total Debt	$3M	·	·	·
Common Stock	$11M	$8M	$7M	$7M
Paid-in Capital	$1.44B	$1.28B	$1.18B	$1.17B
Retained Earnings	$-1.64B	$-1.49B	$-1.34B	$-1.10B
Treasury Stock	$205.0K	$220.0K	$541.0K	$679.0K
AOCI	$-517.0K	$-1M	$-93.0K	$2M
Stockholders' Equity	$-186M	$-203M	$-148M	$79M
Liabilities + Equity	$323M	$322M	$355M	$491M
Shares Outstanding	125,748,762	101,606,376	89,041,946	89,041,946

Nakit Akışı 11

Metrik	2025	2024	2023	2022
Stock-based Comp	$7M	$7M	$13M	$49M
Deferred Tax	$0	$0	$37M	$-2M
Operating Cash Flow	$-141M	$-124M	$-119M	$-138M
CapEx	$264.0K	$867.0K	$3M	$687.0K
Investing Cash Flow	$395.0K	$-867.0K	$-3M	$-687.0K
Stock Issued	$86M	$61M	$0	·
Net Stock Activity	$86M	$61M	·	·
Financing Cash Flow	$151M	$97M	$74M	$-897.0K
Taxes Paid	$-100.0K	$-900.0K	·	·
Free Cash Flow	$-141M	$-125M	$-122M	$-137M
Levered FCF	·	$-175M	$-177M	$-175M

Kârlılık 7

Metrik	2025	2024	2023	2022
Operating Margin	-149.3%	-184.4%	-238.6%	·
Net Margin	-175.3%	-222.8%	-345.1%	·
Pretax Margin	-174.1%	-220.4%	-280.9%	·
EBITDA Margin	-149.3%	-184.4%	-238.6%	·
ROA	-44.2%	-46.7%	-56.8%	-27.2%
ROE	74.1%	84.3%	225.9%	-128.4%
ROIC	66.9%	64.5%	134.4%	-140.4%

Likidite ve Solventlik 4

Metrik	2025	2024	2023	2022
Current Ratio	4.4	3.8	5.0	4.5
Quick Ratio	3.7	3.1	4.1	4.0
Debt / Equity	-0.0	·	·	·
Interest Coverage	·	-2.6	-3.6	-3.3

Verimlilik 2

Metrik	Eğilim	2025	2024	2023	2022
Asset Turnover		0.3	0.2	0.2	·
Inventory Turnover		1.8	0.3	0.2	0.3

Hisse Başına 5

Metrik	2025	2024	2023	2022
Book Value / Share	$-1.48	$-2.05	$-1.80	·
Revenue / Share	$0.64	$0.73	$0.85	·
Cash Flow / Share	$-1.11	$-1.27	$-1.45	·
Cash / Share	$2.08	$2.54	$3.39	·
EPS (TTM)	$-1.12	$-1.62	$-2.94	$-2.01

Büyüme Oranları 2

Metrik	Eğilim	2025	2024	2023	2022
Revenue YoY		14.8%	1.8%	-66.9%	·
Revenue CAGR 3Y		-27.1%	·	·	·

Değerleme (TTM) 13

Metrik	2025	2024	2023	2022
Revenue TTM	$81M	$71M	$70M	$210M
Net Income TTM	$-143M	$-158M	$-240M	$-157M
Market Cap	$444M	$197M	$137M	·
Enterprise Value	$186M	·	·	·
P/E	-3.2	-1.2	-0.6	-1.9
P/S	5.5	2.8	2.0	·
P/B	-2.4	-1.0	-0.9	·
P / Cash Flow	-3.1	-1.6	-1.2	·
P / FCF	-3.1	-1.6	-1.1	·
EV / EBITDA	-1.5	·	·	·
EV / FCF	-1.3	·	·	·
EV / Revenue	2.3	·	·	·
Earnings Yield	-31.7%	-81.4%	-177.1%	-52.3%

Gelir Tablosu 16

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue	$19M	$21M	$23M	$16M	$19M	$23M	$17M	$18M	$17M	$18M	$17M	$14M	$19M	$19M
R&D Expense	$17M	$20M	$18M	$27M	$30M	$29M	$27M	$33M	$24M	$26M	$30M	$27M	$31M	$38M
SG&A Expense	$10M	$10M	$9M	$8M	$9M	$10M	$10M	$10M	$10M	$12M	$11M	$10M	$12M	$16M
Operating Expenses	$45M	$46M	$41M	$47M	$63M	$51M	$49M	$54M	$46M	$52M	$57M	$51M	$59M	$69M
Operating Income	$-25M	$-25M	$-18M	$-31M	$-44M	$-28M	$-32M	$-36M	$-29M	$-34M	$-40M	$-36M	$-40M	$-50M
Interest Expense	·	·	·	·	·	$12M	·	$13M	$13M	$12M	$13M	$13M	$10M	$10M
Interest Income	$2M	$2M	$2M	$2M	$2M	$2M	$3M	$3M	$3M	$3M	$3M	$3M	$2M	$2M
Other Non-op	$21M	$3M	$22M	$925.0K	$-182.0K	$203.0K	$11M	$2M	$3M	$-3M	$10M	$860.0K	$-5M	$833.0K
Pretax Income	$-17M	$-33M	$-7M	$-41M	$-55M	$-38M	$-31M	$-44M	$-36M	$-46M	$-40M	$-45M	$-53M	$-57M
Income Tax	$0	$0	$-404.0K	$0	$1M	$165.0K	$-321.0K	$90.0K	$234.0K	$163.0K	$43M	$-85.0K	$-4M	$518.0K
Net Income	$-17M	$-33M	$-6M	$-41M	$-57M	$-39M	$-31M	$-44M	$-37M	$-47M	$-85M	$-47M	$-49M	$-59M
EPS (Basic)	$-0.11	$-0.21	$0.04	$-0.30	$-0.50	$-0.36	$-0.26	$-0.42	$-0.38	$-0.56	$-1.04	$-0.57	$-0.60	$-0.73
EPS (Diluted)	$-0.11	$-0.21	$0.04	$-0.30	$-0.50	$-0.36	$-0.26	$-0.42	$-0.38	$-0.56	$-1.04	$-0.57	$-0.60	$-0.73
Shares (Basic)	155,016,023	154,142,347	·	136,446,534	113,743,358	107,202,374	·	104,824,877	95,691,245	82,552,322	·	82,256,847	81,471,127	80,805,770
Shares (Diluted)	155,016,023	154,142,347	·	136,446,534	113,743,358	107,202,374	·	104,824,877	95,691,245	82,552,322	·	82,256,847	81,471,127	80,805,770
EBITDA	$-25M	$-25M	·	$-31M	$-44M	$-28M	·	$-36M	$-29M	$-34M	·	·	·	·

Bilanço 26

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Cash & Equivalents	$219M	$231M	$261M	$235M	$265M	$195M	$251M	$274M	$300M	$234M	$279M	·	·	·
Inventory	$5M	$5M	$4M	$18M	$18M	$17M	$2M	$16M	$15M	$16M	$16M	·	·	·
Prepaid Expense	$5M	$6M	$6M	$6M	$5M	$7M	$8M	$19M	$17M	$17M	$10M	·	·	·
Other Current Assets	$4M	$4M	$6M	$6M	$6M	$7M	$9M	·	·	·	$6M	·	·	·
Current Assets	$262M	$277M	$306M	$287M	$319M	$258M	$291M	$333M	$355M	$290M	$336M	·	·	·
PP&E (Net)	·	·	$0	$0	$1.0K	$5M	$5M	$6M	$5M	$6M	$6M	·	·	·
PP&E (Gross)	·	·	$1M	$6M	$6M	$11M	$10M	$11M	$10M	$10M	$10M	·	·	·
Accum. Depreciation	·	·	$1M	$6M	$6M	$6M	$5M	$5M	$5M	$5M	$4M	·	·	·
Other Non-current Assets	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$992.0K	$986.0K	$711.0K	·	·	·
Total Assets	$279M	$291M	$323M	$290M	$322M	$273M	$322M	$349M	$372M	$308M	$355M	·	·	·
Accounts Payable	$13M	$5M	$9M	$8M	$10M	$16M	$18M	$14M	$11M	$14M	$16M	·	·	·
Accrued Liabilities	$67M	$58M	$58M	$54M	$55M	$42M	$62M	$53M	$47M	$49M	$52M	·	·	·
Current Liabilities	$86M	$68M	$70M	$62M	$65M	$58M	$80M	$68M	$58M	$63M	$68M	·	·	·
Capital Leases	$946.0K	$991.0K	$1M	$1M	$1M	$8M	$8M	$9M	$9M	$10M	$10M	·	·	·
Deferred Tax	·	·	$789.0K	·	·	·	$2M	·	·	·	$1M	·	·	·
Other Non-current Liabilities	$6M	$5M	$3M	$9M	$7M	$4M	$2M	$8M	$7M	$7M	$9M	·	·	·
Total Liabilities	$508M	$508M	$509M	$528M	$521M	$511M	$525M	$521M	$503M	$502M	$503M	·	·	·
Total Debt	$6M	$5M	·	·	·	·	·	·	·	·	·	·	·	·
Common Stock	$11M	$11M	$11M	$10M	$10M	$8M	$8M	$8M	$8M	$7M	$7M	·	·	·
Paid-in Capital	$1.45B	$1.44B	$1.44B	$1.38B	$1.38B	$1.29B	$1.28B	$1.28B	$1.28B	$1.18B	$1.18B	·	·	·
Retained Earnings	$-1.69B	$-1.67B	$-1.64B	$-1.63B	$-1.59B	$-1.53B	$-1.49B	$-1.46B	$-1.42B	$-1.38B	$-1.34B	·	·	·
Treasury Stock	$205.0K	$205.0K	$205.0K	$205.0K	$207.0K	$207.0K	$220.0K	$222.0K	$239.0K	$502.0K	$541.0K	·	·	·
AOCI	$-814.0K	$-802.0K	$-517.0K	$-702.0K	$-388.0K	$-1M	$-1M	$203.0K	$-338.0K	$-201.0K	$-93.0K	·	·	·
Stockholders' Equity	$-228M	$-216M	$-186M	$-238M	$-199M	$-238M	$-203M	$-172M	$-132M	$-194M	$-148M	·	·	·
Liabilities + Equity	$279M	$291M	$323M	$290M	$322M	$273M	$322M	$349M	$372M	$308M	$355M	·	·	·
Shares Outstanding	127,438,173	127,165,116	125,748,762	112,626,731	112,499,083	99,178,286	98,861,402	96,687,985	96,469,641	82,777,226	82,293,137	·	·	·

Nakit Akışı 9

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Stock-based Comp	$5M	$2M	$673.0K	$2M	$2M	$2M	$2M	$3M	$2M	$158.0K	$2M	$2M	$1M	$8M
Operating Cash Flow	$-12M	$-30M	$-31M	$-30M	$-24M	$-56M	$-22M	$-25M	$-33M	$-44M	$-32M	$-37M	$-35M	$-15M
CapEx	$0	$32.0K	$0	$0	$0	$264.0K	$90.0K	$216.0K	$30.0K	$531.0K	$327.0K	$661.0K	$1M	$1M
Investing Cash Flow	$0	$-32.0K	$659.0K	$0	$0	$-264.0K	$-90.0K	$-216.0K	$-30.0K	$-531.0K	$-327.0K	$-661.0K	$-1M	$-1M
Stock Issued	$0	$-20.0K	$44M	$-479.0K	$43M	$0	$0	$-1M	·	·	$0	$0	·	·
Net Stock Activity	·	$-20.0K	·	·	·	·	·	·	·	·	·	·	·	·
Financing Cash Flow	$-99.0K	$-583.0K	$57M	$-198.0K	$94M	$271.0K	$-1M	$-879.0K	$99M	$356.0K	$-1.0K	$349.0K	$73M	$425.0K
Free Cash Flow	·	$-30M	·	·	·	$-57M	·	·	·	$-45M	·	·	·	·
Levered FCF	·	·	·	·	·	$-69M	·	·	·	$-57M	·	·	·	·

Kârlılık 7

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Operating Margin	-132.0%	-121.1%	·	-188.5%	-234.3%	-123.6%	·	-192.6%	-166.8%	-186.2%	·	·	·	·
Net Margin	-86.1%	-158.1%	·	-249.4%	-300.7%	-167.6%	·	-238.1%	-209.9%	-258.2%	·	·	·	·
Pretax Margin	-86.1%	-158.1%	·	-249.4%	-294.0%	-166.9%	·	-236.2%	-205.1%	-253.4%	·	·	·	·
EBITDA Margin	-132.0%	-121.1%	·	-188.5%	-234.3%	-123.6%	·	-192.6%	-166.8%	-186.2%	·	·	·	·
ROA	-5.5%	-11.7%	·	-12.8%	-16.3%	-13.3%	·	-25.2%	-19.7%	-30.3%	·	·	·	·
ROE	7.8%	14.5%	·	20.0%	34.2%	17.8%	·	51.1%	55.5%	47.9%	·	·	·	·
ROIC	11.5%	11.9%	·	13.0%	22.7%	12.0%	·	20.7%	22.2%	17.3%	·	·	·	·

Likidite ve Solventlik 4

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Current Ratio	3.0	4.1	·	4.6	4.9	4.5	·	4.9	6.2	4.6	·	·	·	·
Quick Ratio	2.5	3.4	·	3.8	4.1	3.4	·	4.1	5.2	3.7	·	·	·	·
Debt / Equity	-0.0	-0.0	·	·	·	·	·	·	·	·	·	·	·	·
Interest Coverage	·	·	·	·	·	-2.3	·	-2.7	-2.3	-2.7	·	·	·	·

Verimlilik 1

Metrik	Eğilim	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Asset Turnover		0.1	0.1	·	0.1	0.1	0.1	·	0.1	0.1	0.1	·	·	·	·

Hisse Başına 5

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Book Value / Share	$-1.79	$-1.70	·	$-2.11	$-1.77	$-2.40	·	$-1.78	$-1.36	$-2.35	·	·	·	·
Revenue / Share	$0.12	$0.14	·	$0.12	$0.17	$0.21	·	$0.18	$0.18	$0.22	·	·	·	·
Cash Flow / Share	·	$-0.19	·	·	·	$-0.53	·	·	·	$-0.53	·	·	·	·
Cash / Share	$1.72	$1.82	·	$2.08	$2.35	$1.96	·	$2.84	$3.11	$2.83	·	·	·	·
EPS (TTM)	$-0.58	$-0.97	·	$-1.42	$-1.54	$-1.42	·	$-2.40	$-2.55	$-2.77	·	·	·	·

Değerleme (TTM) 10

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue TTM	$80M	$79M	·	$75M	$77M	$76M	·	$71M	$67M	$69M	·	·	·	·
Net Income TTM	$-97M	$-137M	·	$-167M	$-170M	$-150M	·	$-212M	$-215M	$-227M	·	·	·	·
Market Cap	$136M	$477M	·	$451M	$301M	$140M	·	$305M	$305M	$372M	·	·	·	·
Enterprise Value	$-77M	$250M	·	·	·	·	·	·	·	·	·	·	·	·
P/E	-1.8	-3.9	·	-2.8	-1.7	-1.0	·	-1.3	-1.2	-1.6	·	·	·	·
P/S	1.7	6.0	·	6.0	3.9	1.8	·	4.3	4.6	5.4	·	·	·	·
P/B	-0.6	-2.2	·	-1.9	-1.5	-0.6	·	-1.8	-2.3	-1.9	·	·	·	·
P / Cash Flow	·	-16.1	·	·	·	-2.5	·	·	·	-8.4	·	·	·	·
EV / Revenue	-1.0	3.2	·	·	·	·	·	·	·	·	·	·	·	·
Earnings Yield	-54.2%	-25.9%	·	-35.5%	-57.5%	-100.7%	·	-76.2%	-80.7%	-61.7%	·	·	·	·

En son dönem solda · null değerler · olarak gösterilir

Finansal Tablolar Gelir tablosu, bilanço, nakit akışı — yıllık, son 5 yıl

16

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Gelir	$81M	$71M	$70M	$210M	·
Faaliyet Kâr Marjı %	-149.3%	-184.4%	-238.6%	·	·
Net Gelir	$-143M	$-158M	$-240M	$-157M	$-230M
Seyreltilmiş Hisse Başı Kâr	$-1.12	$-1.62	$-2.94	$-2.01	·

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Borç / Öz Sermaye	-0.0	·	·	·	·
Cari Oran	4.4	3.8	5.0	4.5	7.1
Cari Oran	3.7	3.1	4.1	4.0	6.7

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Serbest Nakit Akışı	$-141M	$-125M	$-122M	$-137M	$-237M

Kurumsal Sahipler (13F) 120 dosya · $93.2M toplam · Tarih itibarıyla 30 Haziran 2026

17

Çeyreklik SEC Form 13F'lerinde bu hisse senedini tuttuklarını bildiren kurumlar. Yalnızca uzun pozisyonlar; tek bir başvuru sahibi, ayrı opsiyon bacakları için iki kez görünebilir. Büyük dengeleyici alım/satım bacakları genellikle piyasa yapımını veya korunmuş envanteri yansıtır, yönlü bir inancı değil.

Sahipler 120

Tutulan Değer $93.2M

Yeni pozisyonlar 27

Çıkan pozisyonlar 30

Kurumsal faaliyet — Q2 2026 ve önceki çeyrek

Yeni pozisyonlar	Çıkan pozisyonlar	Artırıldı	Azaldı	Net hisse senedi değişimi
27 (+4 önceki Ç'ye göre)	30 (+18 önceki Ç'ye göre)	42 (-9 önceki Ç'ye göre)	30 (+1 önceki Ç'ye göre)	-2.7M

Q1 2026 ile karşılaştırıldı. SEC Form 13F başvuruları, çeyrek sonundan itibaren 45 gün içinde ve geç başvuranlar için kısa bir ek süre içinde tamamlanmalıdır — bu pencere içindeki çeyrekler, en son tam olarak raporlanan çifte tercih edilerek atlanır.

Kurum	Değer	Hisse senetleri	% izlenen 13F'nin	Tür
Nantahala Capital Management, LLC	$13.189.017	12.326.184	14,15%	Hisse senetleri
Redmile Group, LLC	$12.333.580	11.526.710	13,23%	Hisse senetleri
TCG Crossover Management, LLC	$12.187.487	11.390.175	13,08%	Hisse senetleri
Prosight Management, LP	$8.372.481	7.824.749	8,98%	Hisse senetleri
BlackRock, Inc.	$7.511.500	7.020.093	8,06%	Hisse senetleri
VANGUARD GROUP INC	$3.987.442	1.129.587	4,28%	Hisse senetleri
Point72 Asset Management, L.P.	$3.904.584	3.649.144	4,19%	Hisse senetleri
MORGAN STANLEY	$3.264.755	3.051.173	3,50%	Hisse senetleri
MILLENNIUM MANAGEMENT LLC	$3.102.502	2.899.535	3,33%	Hisse senetleri
Vantage Consulting Group Inc	$2.410.983	682.998	2,59%	Hisse senetleri
CITADEL ADVISORS LLC	$2.197.048	2.053.316	2,36%	Hisse senetleri
GOLDMAN SACHS GROUP INC	$2.048.434	1.914.424	2,20%	Hisse senetleri
STATE STREET CORP	$1.803.845	1.685.836	1,94%	Hisse senetleri
GEODE CAPITAL MANAGEMENT, LLC	$1.546.733	1.445.546	1,66%	Hisse senetleri
BANK OF AMERICA CORP /DE/	$1.378.381	1.288.206	1,48%	Hisse senetleri
VANGUARD PORTFOLIO MANAGEMENT LLC	$959.888	897.092	1,03%	Hisse senetleri
TWO SIGMA INVESTMENTS, LP	$827.553	773.414	0,89%	Hisse senetleri
Blue Owl Capital Holdings LP	$784.918	733.568	0,84%	Hisse senetleri
D. E. Shaw & Co., Inc.	$769.672	719.320	0,83%	Hisse senetleri
Opaleye Management Inc.	$749.000	700.000	0,80%	Hisse senetleri
AQR CAPITAL MANAGEMENT LLC	$704.193	658.125	0,76%	Hisse senetleri
BNP PARIBAS FINANCIAL MARKETS	$698.548	652.849	0,75%	Hisse senetleri
NORTHERN TRUST CORP	$635.607	594.025	0,68%	Hisse senetleri
PLATINUM INVESTMENT MANAGEMENT LTD	$622.322	581.609	0,67%	Hisse senetleri
PANAGORA ASSET MANAGEMENT INC	$612.913	572.816	0,66%	Hisse senetleri
UBS Group AG	$556.714	520.293	0,60%	Hisse senetleri
SCHRODER INVESTMENT MANAGEMENT GROUP	$431.345	418.782	0,46%	Hisse senetleri
TWO SIGMA ADVISERS, LP	$425.602	120.567	0,46%	Hisse senetleri
ALLIANCEBERNSTEIN L.P.	$406.763	108.470	0,44%	Hisse senetleri
WELLS FARGO & COMPANY/MN	$328.644	307.144	0,35%	Hisse senetleri
Russell Investments Group, Ltd.	$306.664	286.604	0,33%	Hisse senetleri
Bank of New York Mellon Corp	$269.260	251.645	0,29%	Hisse senetleri
WELLINGTON MANAGEMENT GROUP LLP	$250.760	234.355	0,27%	Hisse senetleri
Florida Trust Wealth Management Co	$246.565	230.435	0,26%	Hisse senetleri
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$239.742	224.058	0,26%	Hisse senetleri
Nuveen, LLC	$189.061	176.693	0,20%	Hisse senetleri
STATE OF WISCONSIN INVESTMENT BOARD	$171.414	160.200	0,18%	Hisse senetleri
MILLENNIUM MANAGEMENT LLC	$160.500	150.000	0,17%	Alım opsiyonu
JPMORGAN CHASE & CO	$157.116	152.540	0,17%	Hisse senetleri
JACOBS LEVY EQUITY MANAGEMENT, INC	$151.238	141.344	0,16%	Hisse senetleri
XTX Topco Ltd	$150.165	140.341	0,16%	Hisse senetleri
FMR LLC	$142.069	132.775	0,15%	Hisse senetleri
RHUMBLINE ADVISERS	$125.571	117.364	0,13%	Hisse senetleri
Focus Partners Wealth	$119.627	111.801	0,13%	Hisse senetleri
Quadrature Capital Ltd	$113.088	105.690	0,12%	Hisse senetleri
Revolve Wealth Partners, LLC	$107.000	100.000	0,11%	Hisse senetleri
Wilmington Savings Fund Society, FSB	$107.000	100.000	0,11%	Hisse senetleri
DLK Investment Management, LLC	$104.770	33.155	0,11%	Hisse senetleri
BARCLAYS PLC	$100.864	94.264	0,11%	Hisse senetleri
DEUTSCHE BANK AG\	$89.285	83.444	0,10%	Hisse senetleri

Tüm 120 kurumsal sahibi göster →

Aktivistler ve %5+ sahipler 2 pozisyon

18

SEC Çizelge 13D dosyalayan yatırımcılar — ihraççı üzerinde nüfuz etme niyetiyle %5'in üzerinde faydalı sahiplik (aktivist hisseler, yönetim kurulu kampanyaları, M&A). Her satır, o başvuru sahibinin pozisyonunun bilinen en son durumunu gösterir.

Başvuru sahibi	Dosyalandı	Hisse	Durum	Amaç	Başvuru
A.T. Holdings II Sarl, C.T. Phinco Sarl, ADC Products Switzerland Sarl, Auven Therapeutics Holdings L.P., Auven Therapeutics General L.P., Auven Therapeutics GP Ltd., Stephen Evans-Freke, Peter B. Corr ×8 başvurular	25 Nisan 2024	·	İlk başvuru	·	SEC
HPWH TH AG, HP WILD HOLDING AG, Dr. Hans-Peter Wild, Thomas Pfisterer	14 Eylül 2020	·	İlk başvuru	Pasif yatırım	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Şirket yöneticileri 14 içeriden öğrenenler · 5 yöneticiler · 8 yönetim kurulu üyeleri

19

İçeriden Öğrenen	Rol	Son işlem	Sahip olunan hisse senetleri	Net 12ay
Ameet Mallik	Chief Executive Officer	30 Haziran 2026 A	2.121.769	$0
Jose Carmona	Chief Financial Officer	30 Haziran 2026 A	938.076	$0
Mohamed Zaki	Chief Medical Officer	30 Haziran 2026 A	896.317	$0
Peter J Graham	Chief Legal Officer	30 Haziran 2026 A	841.640	$0
Lisa Michelle Kallebo	Chief Accounting Officer	13 Şubat 2026 F	128.224	$0
Peter Hug	Yönetim kurulu üyesi	03 Haziran 2026 F	263.344	$0
Viviane Monges	Yönetim kurulu üyesi	03 Haziran 2026 F	186.447	$0
Robert Azelby	Yönetim kurulu üyesi	03 Haziran 2026 F	112.805	$0
Jean-Pierre Bizzari	Yönetim kurulu üyesi	03 Haziran 2026 F	139.302	$0
Victor Sandor	Yönetim kurulu üyesi	03 Haziran 2026 F	140.686	$0
Ron Squarer	Yönetim kurulu üyesi	03 Haziran 2026 F	123.431	$0
Timothy Coughlin	Yönetim kurulu üyesi	03 Haziran 2026 F	72.400	$0
Hans Peter Wild	10% sahip	15 Mayıs 2025 J	9.788.944	$0
Thomas Pfisterer	·	15 Mayıs 2025 J	173.899	$0

SEC Form 3/4/5 başvurularından yöneticiler; net = yalnızca açık piyasa Alış/Satış

ETF sahipliği 11 ETF'ler tarafından tutuluyor

20

Ağırlık yalnızca doğrudan öz sermaye varlıklarını (N-PORT) yansıtır; kaldıraçlı veya türev tabanlı fonlar gösterilmeyen ek swap pozisyonlarına sahip olabilir.

Fon	Ağırlık	Birimler	Tarih itibarıyla	Kaynak
IWC · iShares Trust	0,03%	358.020 SH	11 Eylül 2026	Günlük
VTWV · VANGUARD SCOTTSDALE FUNDS	0,01%	74.478 SH	19 Ağustos 2026	Günlük
IBB · iShares Trust	0,01%	713.042 SH	11 Eylül 2026	Günlük
IWM · iShares Trust	0,00%	2.687.086 SH	11 Eylül 2026	Günlük
RSSL · Global X Funds	0,00%	51.103 NS	31 Temmuz 2026	N-PORT
IWO · iShares Trust	0,00%	202.930 SH	11 Eylül 2026	Günlük
IWV · iShares Trust	0,00%	48.185 SH	03 Eylül 2026	Günlük
VTWO · VANGUARD SCOTTSDALE FUNDS	0,00%	611.978 SH	19 Ağustos 2026	Günlük
VTWG · VANGUARD SCOTTSDALE FUNDS	0,00%	24.289 SH	19 Ağustos 2026	Günlük
VTHR · VANGUARD SCOTTSDALE FUNDS	0,00%	9.269 SH	19 Ağustos 2026	Günlük
IWN · iShares Trust	·	715.322 SH	11 Eylül 2026	Günlük

ADCT Analist Uzlaşması Boğa ve ayı analist görüşleri, 12 aylık fiyat hedefi, yukarı yönlü potansiyel

21

derecelendirme · 12 analist AL

Medyan hedef $3.00 +165,5%

4 33,3% Güçlü Al

4 33,3% Al

3 25,0% Tut

0 0,0% Sat

1 8,3% Güçlü Sat

12 Aylık Fiyat Hedefi

3 analist · 2026-10-01

Ortalama hedef $3.33 +195,0%

← Tüm hedeflerin altında Mevcut fiyat $1.13

Düşük$2.00 Ortalama$3.33 Yüksek$5.00

Akran karşılaştırması (GICS alt sektörü) Anahtar metrikler sektördeki benzerlerine karşı

22

Mali yıl bazında, fiyatlar her şirketin son mali yıl kapanışına göredir.

Hisse Sembolü	Piyasa Değeri	P/E	Gelir YoY	Net Kar Marjı	ROE	Brüt Kar Marjı
ADCT	$444M	-3.2	14.8%	-175.3%	74.1%	·
ACIU	·	-4.5	·	-1971.7%	-89.6%	·
VRXA	·	·	·	·	·	·
NCEL	$9M	0.9	·	·	2225.2%	·

Metriklerim Kişisel izleme listeniz — Tam Temeller'den seçilen satırlar

26

Sizin için önemli olan metrikleri seçin — Yukarıdaki Tam Temeller bölümündeki herhangi bir satırın yanındaki + işaretine tıklayın.

Seçiminiz kaydedildi ve tüm hisse senetlerinde sizinle birlikte gelir.

ADCT ADC Therapeutics SA Common Shares