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Adagio Medical Holdings
(NASDAQ:ADGM)
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Rating:42Neutral
Price Target:
$0.11
▼(-80.00% Downside)
Action:Upgraded
Date:10/16/26
The score is driven primarily by very weak financial performance (no revenue, large ongoing losses, sizable cash burn, and negative equity with rising debt). Technicals reinforce the risk with a clear downtrend despite oversold readings. Corporate events add incremental uncertainty (strategic alternatives, layoffs, Nasdaq deficiency), partially balanced by reported clinical/regulatory progress and upcoming FDA timing.
Positive Factors
Clinical and Regulatory Progress
The completed pivotal trial and substantial patient experience provide meaningful clinical validation for Adagio’s VT ablation platform. An expected FDA decision creates a defined regulatory milestone, while reported outcomes and planned commercialization could support future adoption if approval and execution follow.
Negative Factors
No Commercial Revenue
Absent revenue means Adagio has not yet demonstrated commercial traction or a repeatable source of operating income. Continued dependence on development-stage programs leaves future growth contingent on regulatory and commercial execution, while fixed operating needs continue without customer-funded cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical and Regulatory Progress
The completed pivotal trial and substantial patient experience provide meaningful clinical validation for Adagio’s VT ablation platform. An expected FDA decision creates a defined regulatory milestone, while reported outcomes and planned commercialization could support future adoption if approval and execution follow.
Read all positive factors
Adagio Medical Holdings (ADGM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.65M
Dividend YieldN/A
Average Volume (3M)3.45M
Price to Earnings (P/E)―
Beta (1Y)0.11
Revenue Growth-100.00%
EPS Growth70.33%
CountryUS
Employees41
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.43
Shares Outstanding27,439,327
10 Day Avg. Volume3,667,209
30 Day Avg. Volume3,446,542
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)1.39
Price to Sales (P/S)0.00
P/FCF Ratio-0.89
Enterprise Value/Market Cap12.34
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-367.79
Enterprise Value/Ebitda-1.41
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.09
Revenue Forecast (FY)N/A
Adagio Medical Holdings Business Overview & Revenue Model
Company Description
Adagio Medical Holdings, Inc. is an emerging medical device firm focused on pioneering and commercializing innovative ablation technologies. Its core mission is to provide therapeutic solutions for various cardiac rhythm disorders, including but n...
Adagio Medical Holdings Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 269.00K | 300.00K | 189.00K | 270.00K |
| Gross Profit | -89.00K | -684.00K | -1.67M | -1.01M | -686.00K | -888.00K |
| EBITDA | -23.19M | -21.21M | -53.48M | -35.95M | -23.04M | -19.60M |
| Net Income | -27.14M | -25.08M | -53.76M | -38.15M | -23.67M | -19.94M |
Balance Sheet | ||||||
| Total Assets | 33.88M | 43.25M | 48.45M | 6.83M | 8.70M | 21.44M |
| Cash, Cash Equivalents and Short-Term Investments | 7.74M | 17.11M | 20.59M | 1.38M | 5.55M | 18.85M |
| Total Debt | 26.00M | 21.76M | 16.27M | 38.40M | 9.80M | 0.00 |
| Total Liabilities | 34.30M | 30.85M | 28.54M | 138.85M | 104.57M | 94.06M |
| Stockholders Equity | -415.00K | 12.40M | 19.91M | -132.02M | -95.88M | -72.62M |
Cash Flow | ||||||
| Free Cash Flow | -16.20M | -19.39M | -31.11M | -725.86K | -22.90M | -20.58M |
| Operating Cash Flow | -16.53M | -19.01M | -29.46M | -725.86K | -22.41M | -19.31M |
| Investing Cash Flow | -37.00K | -374.00K | -1.65M | 113.67M | -500.00K | -1.27M |
| Financing Cash Flow | 16.13M | 16.13M | 15.63M | -113.02M | 9.53M | 130.00K |
Adagio Medical Holdings Technical Analysis
Negative
0.55
Price Trends
0.35
Negative
0.49
Negative
0.77
Negative
Market Momentum
-0.07
Negative
25.80
Positive
39.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADGM, the sentiment is Negative. The current price of 0.55 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.35, and below the 200-day MA of 0.77, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 25.80 is Positive, neither overbought nor oversold. The STOCH value of 39.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADGM.
Adagio Medical Holdings Risk Analysis
Adagio Medical Holdings disclosed 79 risk factors in its most recent earnings report. Adagio Medical Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Adagio Medical Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $50.31M | -0.97 | 1719.71% | ― | -6.76% | 42.70% | |
43 Neutral | $4.41M | -0.06 | 2616.82% | ― | 45.21% | -10.29% | |
42 Neutral | $2.65M | -0.07 | -661.85% | ― | -100.00% | 70.33% | |
42 Neutral | $18.07M | -0.14 | -33.51% | ― | -89.02% | -107.75% | |
41 Neutral | $4.08M | -0.02 | -210.99% | ― | -9.18% | 33.16% |
* Healthcare Sector Average
ADGM
Adagio Medical Holdings
0.10
-1.20
-92.62%
CODX
Co-Diagnostics
0.55
-37.25
-98.55%
PAVM
PAVmed
2.26
-11.18
-83.18%
VVOS
Vivos Therapeutics
0.13
-2.59
-95.18%
COCH
Envoy Medical
6.50
-1.60
-19.76%
Adagio Medical Holdings Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Adagio Medical Converts Notes to Equity Amid Review
Neutral
Oct 1, 2026
In the course of its strategic alternatives process, Adagio Medical Holdings, Inc. implemented an Alternate Conversion Election for its 13% Senior Secured Convertible Notes between September 23, 2026 and October 31, 2026, allowing noteholders to c...
Business Operations and StrategyPrivate Placements and Financing
Adagio Medical Explores Strategic Alternatives, Cuts Workforce
Negative
Sep 23, 2026
On September 23, 2026, Adagio Medical Holdings, Inc. adopted a plan to extend its capital resources as it began exploring a full range of strategic alternatives. As part of this plan, the company will reduce its workforce by 25 of its 43 full-time...
Delistings and Listing ChangesFinancial DisclosuresRegulatory Filings and Compliance
Adagio Medical Receives Nasdaq Listing Deficiency Notice
Negative
Aug 14, 2026
On August 13, 2026, Adagio Medical Holdings, Inc. disclosed that it received a deficiency notice from Nasdaq’s Listing Qualifications Staff, indicating the company is not in compliance with the exchange’s minimum $2.5 million stockhold...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Adagio Medical Highlights VT Ablation Progress in Presentation
Positive
Aug 13, 2026
On August 13, 2026, Adagio Medical Holdings made an updated corporate presentation available to investors and analysts, highlighting clinical and regulatory progress for its VT ablation technology. The company reported more than 350 patients treat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.