Adagio Medical Holdings, Inc.
Business
Adagio Medical Holdings is a medical device company developing catheter-based Ultra-Low Temperature Ablation (ULTA) technology for treating cardiac arrhythmias, specifically ventricular tachycardia. The company offers the vCLAS Cryoablation System and related consoles designed to create large, durable lesions in heart tissue using proprietary cryoablation technology. Adagio has completed enrollment in the FULCRUM-VT pivotal study and obtained CE Mark approval in Europe. The company operates from manufacturing facilities in California and serves the global electrophysiology device market.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|
| Revenue | 0 | 300,000 | |
| Cost of revenue | 684,000 | 1 | |
| Research and development | 11 | 15 | |
| Selling, general, and administrative | 11 | 12 | |
| Impairment - Goodwill | 0 | 0 | |
| Total cost of revenue and operating expenses | 22 | 28 | |
| Loss from operations | −22 | −28 | |
| Interest expense | −3 | −2 | |
| Interest income | 477,000 | 3,000 | |
| Other (expense) income, net | 195,000 | −20,000 | |
| Total other (loss) income, net | −3 | −9 | |
| Net loss | −25 | — | |
| Foreign currency translation adjustment | −100,000 | −11,000 | |
| Comprehensive loss | −25 | −37 | |
| Basic net loss per share (in dollars per share) | −1.51 | −48.16 | |
| Diluted net loss per share (in dollars per share) | −1.51 | −48.16 | |
| Weighted-average shares outstanding - Basic (in shares) | 17 | — | |
| Weighted-average shares outstanding - Diluted (in shares) | 17 | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-07-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 17 | 21 | — | 1 | — | |
| Accounts receivable, net | — | 35,000 | — | 71,000 | — | |
| Inventory, net | 2 | 3 | — | 3 | — | |
| Prepaid expenses | 989,000 | 2 | — | 232,000 | — | |
| Other current assets | 316,000 | 222,000 | — | 177,000 | — | |
| Total current assets | 20 | 25 | — | 5 | — | |
| Property and equipment, net | 2 | 2 | — | 1 | — | |
| Right-of-use assets, net | 697,000 | 188,000 | — | 130,000 | — | |
| Intangible assets, net | 7 | 7 | — | 0 | — | |
| Goodwill, net | 14 | 14 | — | 0 | — | |
| Other assets | 3,000 | 14,000 | — | 23,000 | — | |
| Total assets | 43 | 48 | — | 7 | — | |
| Accounts payable | 1 | 3 | — | 4 | — | |
| Accrued liabilities | 7 | 4 | — | 3 | — | |
| Operating lease liabilities, current | 155,000 | 143,000 | — | 79,000 | — | |
| Other accrued liabilities | — | 1 | — | 2 | — | |
| Total current liabilities | 8 | 8 | — | 47 | — | |
| Operating lease liabilities, long-term | 563,000 | 46,000 | — | 52,000 | — | |
| Convertible notes payable, net | 21 | 16 | — | — | — | |
| Warrant liabilities | 132,000 | 152,000 | — | — | — | |
| Deferred tax liabilities, net | 883,000 | 883,000 | — | — | — | |
| Other long-term liabilities | — | 4 | — | 8,000 | — | |
| Total liabilities | 31 | 29 | — | 47 | — | |
| Commitments and contingencies | — | — | — | — | — | |
| Common stock, $0.0001 par value; 210,000,000 shares authorized at December 31, 2025 and December 31, 2024; 22,210,459 and 15,198,232 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 2,000 | 2,000 | — | 1,000 | — | |
| Additional paid-in capital | 108 | 90 | — | 2 | — | |
| Accumulated other comprehensive (loss) income | −99,000 | 1,000 | — | 17,000 | — | |
| Accumulated deficit | −96 | −71 | — | −134 | — | |
| Total stockholders' equity | 12 | 20 | −148 | −132 | −96 | |
| Total liabilities and stockholders' equity | 43 | 48 | — | 7 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|
| Net loss | −25 | −37 | |
| Depreciation and amortization | 970,000 | 532,000 | |
| Stock-based compensation | 1 | 442,000 | |
| Change in fair value of convertible notes payable | 980,000 | — | |
| Change in fair value of warrant liabilities | −20,000 | — | |
| Accounts receivable, net | 38,000 | −70,000 | |
| Inventory, net | 931,000 | −3 | |
| Prepaid expenses and other current assets | 867,000 | 410,000 | |
| Accounts payable | −2 | 3 | |
| Accrued liabilities | 3 | 886,000 | |
| Other accrued liabilities | 3 | 1 | |
| Operating lease liabilities | 20,000 | −161,000 | |
| Other long-term liabilities | −4 | — | |
| Net cash used in operating activities | −19 | −26 | |
| Purchases of property and equipment | −374,000 | −333,000 | |
| Net cash used in investing activities | −374,000 | −340,000 | |
| Proceeds from the issuance of common shares, pre-funded warrants and warrants, net of $2,865 issuance costs | 16 | — | |
| Net cash provided by financing activities | 16 | 22 | |
| Effect of foreign currency translation on cash and cash equivalents | −227,000 | −47,000 | |
| Net change in cash and cash equivalents | −3 | −4 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Adagio Medical Holdings, Inc.'s CIK number?
Adagio Medical Holdings, Inc.'s SEC CIK number is 0002006986 (2006986). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Adagio Medical Holdings, Inc.'s SEC filings?
All of Adagio Medical Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Adagio Medical Holdings, Inc. last report earnings?
Adagio Medical Holdings, Inc. (ADGM) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-059026). This is Adagio Medical Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Adagio Medical Holdings, Inc.'s most recent earnings 8-K?
Adagio Medical Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001104659-26-059026. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Adagio Medical Holdings, Inc.'s latest earnings 8-K →
Look up any company's CIK number →