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20-F

Annual Report (Foreign)

Adagene Inc. ADAG

0001104659-26-038612

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Filed
Apr 1, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 59.01M sh
Shares Diluted FY 2025 · Dec 31, 2024 56.29M sh
Shares Diluted FY 2025 · Dec 31, 2023 54.74M sh
Shares Outstanding FY 2025 · Dec 31, 2025 59.23M sh
Capex FY 2025 · Dec 31, 2025 $17.05K
Capex FY 2025 · Dec 31, 2024 $33.58K
Capex FY 2025 · Dec 31, 2023 $85.01K
Operating Cash Flow FY 2025 · Dec 31, 2025 −$15.66M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$29.7M
Operating Cash Flow FY 2025 · Dec 31, 2023 −$28.45M
Long Term Debt FY 2025 · Dec 31, 2025 $1.14M
Long Term Debt FY 2025 · Dec 31, 2024 $417.34K
Short Term Debt FY 2025 · Dec 31, 2025 $4.98M
Short Term Debt FY 2025 · Dec 31, 2024 $17.79M
Short Term Investments FY 2025 · Dec 31, 2025 $0
Short Term Investments FY 2025 · Dec 31, 2024 $0
Cash And Equivalents FY 2025 · Dec 31, 2025 $74.52M
Cash And Equivalents FY 2025 · Dec 31, 2024 $85.19M
Stockholders Equity FY 2025 · Dec 31, 2025 $35.35M
Stockholders Equity FY 2025 · Dec 31, 2024 $50.52M
Stockholders Equity FY 2025 · Dec 31, 2023 $70.56M
Stockholders Equity FY 2025 · Dec 31, 2022 $83.09M
Current Liabilities FY 2025 · Dec 31, 2025 $25.17M
Current Liabilities FY 2025 · Dec 31, 2024 $38.18M
Total Liabilities FY 2025 · Dec 31, 2025 $26.36M
Total Liabilities FY 2025 · Dec 31, 2024 $38.74M
Current Assets FY 2025 · Dec 31, 2025 $77.38M
Current Assets FY 2025 · Dec 31, 2024 $87.78M
Total Assets FY 2025 · Dec 31, 2025 $78.26M
Total Assets FY 2025 · Dec 31, 2024 $89.27M
Eps Diluted FY 2025 · Dec 31, 2025 −$0.30
Eps Diluted FY 2025 · Dec 31, 2024 −$0.59
Eps Diluted FY 2025 · Dec 31, 2023 −$0.35
Eps Basic FY 2025 · Dec 31, 2025 −$0.30
Eps Basic FY 2025 · Dec 31, 2024 −$0.59
Eps Basic FY 2025 · Dec 31, 2023 −$0.35
Sga Expense FY 2025 · Dec 31, 2025 $7.08M
Sga Expense FY 2025 · Dec 31, 2024 $7.27M
Sga Expense FY 2025 · Dec 31, 2023 $8.67M
Rd Expense FY 2025 · Dec 31, 2025 $22.03M
Rd Expense FY 2025 · Dec 31, 2024 $28.78M
Rd Expense FY 2025 · Dec 31, 2023 $36.64M
Net Income FY 2025 · Dec 31, 2025 −$17.61M
Net Income FY 2025 · Dec 31, 2024 −$33.42M
Net Income FY 2025 · Dec 31, 2023 −$18.95M
Operating Income FY 2025 · Dec 31, 2025 −$21.44M
Operating Income FY 2025 · Dec 31, 2024 −$35.95M
Operating Income FY 2025 · Dec 31, 2023 −$23.72M
Revenue FY 2025 · Dec 31, 2025 $7.67M
Revenue FY 2025 · Dec 31, 2024 $103.2K
Revenue FY 2025 · Dec 31, 2023 $18.11M