Adagio Medical Holdings (ADGM) AI Stock Analysis

• Market Cap: $21.82M
• Dividend Yield: N/A
• Average Volume (3M): 152.12K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.28
• Revenue Growth: -70.54%
• EPS Growth: 70.03%
• Country: US
• Employees: 80
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.43
• Shares Outstanding: 21,179,638
• 10 Day Avg. Volume: 84,483
• 30 Day Avg. Volume: 152,119
• PEG Ratio: 0.01
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 59.32
• P/FCF Ratio: -0.98
• Enterprise Value/Market Cap: 2.16
• Enterprise Value/Revenue: -329.61
• Enterprise Value/Gross Profit: -44.13
• Enterprise Value/Ebitda: -0.61
• 1Y Price Target: $4.00
• Price Target Upside: 325.53% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $0.90 ▼(-4.15% Downside)

Adagio Medical Holdings' overall stock score is primarily impacted by its poor financial performance and valuation metrics, which are offset slightly by positive corporate events. The company's financial instability and lack of profitability are significant concerns, despite recent strategic moves and promising study results.

Positive Factors

Promising Study Results

The high success rate of the ULTC technology in treating VT suggests strong potential for market adoption, enhancing ADGM's competitive edge.

Strategic Board Expansion

Adding experienced leadership from Medtronic can improve governance and strategic oversight, potentially driving better operational performance.

New Funding for Innovation

The new funding supports FDA submissions and manufacturing expansion, which can enhance product development and market penetration.

Negative Factors

Negative Revenue Growth

Significant revenue decline indicates challenges in sales and market demand, potentially impacting long-term financial health and growth prospects.

High Leverage

High leverage limits financial flexibility and increases risk, potentially affecting the company's ability to invest in growth opportunities.

Cash Flow Challenges

Negative cash flows indicate reliance on external financing, which may not be sustainable, affecting long-term operational stability.

Adagio Medical Holdings Business Overview & Revenue Model

Company Description

Adagio Medical Holdings (ADGM) is a pioneering company in the medical technology sector, specializing in the development and commercialization of innovative medical devices and therapies. The company primarily focuses on addressing unmet needs in cardiovascular and neuromodulation treatments, offering a range of products designed to improve patient outcomes and enhance the quality of healthcare delivery. With a commitment to research and development, ADGM aims to leverage cutting-edge technologies to create effective solutions for healthcare providers and patients alike.

How the Company Makes Money

Adagio Medical Holdings generates revenue through multiple streams, primarily by selling its proprietary medical devices and therapies to hospitals, healthcare institutions, and clinics. The company employs a direct sales force as well as strategic partnerships with distributors to reach a broader market. Additionally, ADGM may also engage in licensing agreements for its technologies, allowing other companies to manufacture or distribute its products in exchange for royalties. Key revenue drivers include successful product launches, ongoing sales of existing devices, and potential partnerships with larger medical firms that can amplify distribution and market penetration. The company's focus on innovation and addressing specific medical needs further contributes to its potential earnings growth.

Adagio Medical Holdings Financial Statement Overview

Summary

Adagio Medical Holdings is facing significant financial challenges, with consistent losses and negative cash flows. Despite slight improvements in equity and cash position, the company remains highly leveraged and struggles with profitability. The medical devices industry is competitive, and the company needs to address operational inefficiencies and improve revenue generation to achieve financial stability.

Income Statement

Adagio Medical Holdings has experienced declining revenues over the past years, with a negative revenue growth rate from 2023 to 2024. The company has consistently reported negative gross profit and net income, indicating significant challenges in achieving profitability. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high costs relative to revenue.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio, indicating significant leverage, although it has improved from 2023 to 2024 as equity turned positive. The equity ratio remains low, suggesting limited financial stability. Despite improvements in stockholders' equity, the company still faces potential risks due to its high liabilities relative to assets.

Cash Flow

Cash flow analysis reveals negative operating and free cash flows, which have slightly improved from 2023 to 2024. The company has relied on financing activities to support its cash position, which may not be sustainable in the long term. The operating cash flow to net income ratio is negative, indicating cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	-143.00K	269.00K	300.00K	189.00K	270.00K
Gross Profit	-1.07M	-1.67M	-1.01M	-686.00K	-888.00K
EBITDA	-77.03M	-62.48M	-27.41M	-23.04M	-19.60M
Net Income	-74.58M	-53.76M	-38.15M	-23.67M	-19.94M
Balance Sheet
Total Assets	31.55M	48.45M	6.83M	8.70M	21.44M
Cash, Cash Equivalents and Short-Term Investments	4.67M	20.59M	1.38M	5.55M	18.85M
Total Debt	21.97M	16.27M	38.40M	9.80M	0.00
Total Liabilities	32.86M	28.54M	138.85M	104.57M	94.06M
Stockholders Equity	-1.31M	19.91M	-132.02M	-95.88M	-72.62M
Cash Flow
Free Cash Flow	-23.55M	-31.11M	-25.98M	-22.90M	-20.58M
Operating Cash Flow	-21.99M	-29.46M	-25.65M	-22.41M	-19.31M
Investing Cash Flow	-1.57M	-1.65M	-340.00K	-500.00K	-1.27M
Financing Cash Flow	0.00	15.63M	21.88M	9.53M	130.00K

Adagio Medical Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.94
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADGM, the sentiment is Neutral. The current price of 0.94 is above the 20-day moving average (MA) of 0.92, below the 50-day MA of 1.07, and below the 200-day MA of 1.27, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.93 is Neutral, neither overbought nor oversold. The STOCH value of 45.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ADGM.

Adagio Medical Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PAVM	48 Neutral	$9.15M	-0.54	20.03%	―	-99.28%	-46.16%
VVOS	48 Neutral	$17.71M	-1.00	-335.47%	―	18.76%	60.09%
ADGM	46 Neutral	$21.82M	-0.19	-210.36%	―	-70.54%	70.03%
CODX	42 Neutral	$16.07M	-0.27	-62.12%	―	-87.84%	29.16%
COCH	41 Neutral	$21.20M	-0.55	―	―	-25.18%	-9.71%
IINN	35 Underperform	$36.43M	-2.21	―	―	―	―

Adagio Medical Holdings Corporate Events

Adagio Medical Holds 2025 Annual Stockholders Meeting

On December 15, 2025, Adagio Medical Holdings, Inc. held its 2025 Annual Meeting of Stockholders. During the meeting, stockholders voted on two proposals: the election of two directors and the ratification of an independent accounting firm. Both nominees, Todd Usen and James L. Cox, M.D., were elected as directors, and WithumSmith+Brown, PC was ratified as the independent accounting firm for the fiscal year ending December 31, 2025.

Adagio Medical Expands Board with New Appointment

On December 11, 2025, Adagio Medical Holdings, Inc. expanded its Board of Directors from six to seven members, appointing Sean Salmon as a Class II director. Salmon, with extensive experience at Medtronic, will also serve on the Audit and Compensation Committees. This strategic appointment is expected to enhance the company’s governance and operational oversight.

Adagio Medical Sets Date for 2025 Annual Meeting

On October 23, 2025, Adagio Medical Holdings, Inc. announced the date for its 2025 Annual Meeting of Stockholders, set for December 15, 2025. The company did not hold a 2024 Annual Meeting, prompting this announcement to inform stockholders about the upcoming meeting and the deadlines for submitting proposals and nominations. Stockholders must submit their proposals or nominations by November 3, 2025, to be considered for inclusion in the meeting’s proxy materials.

Adagio Medical Secures $19M for Cryoablation Tech

On October 20, 2025, Adagio Medical Holdings announced the closing of a $19 million private placement, aimed at advancing its proprietary Ultra-Low Temperature Cryoablation technologies for ventricular tachycardia. The funds will support FDA submission activities, enhance clinical experience, and expand manufacturing capabilities, positioning Adagio to improve treatment outcomes for VT patients and strengthen its market presence.

Adagio Medical Raises $19M in Private Placement

On October 14, 2025, Adagio Medical Holdings entered into a Securities Purchase Agreement with accredited investors to raise approximately $19 million upfront through a private placement of common stock and warrants, with potential additional proceeds of up to $31 million upon full exercise of the warrants. The funds will be used for working capital and advancing clinical and product development activities, potentially strengthening Adagio’s market position in cardiac arrhythmia treatment technologies.

Adagio Medical Reports Promising Results from FULCRUM-VT Study

On October 10, 2025, Adagio Medical Holdings announced preliminary acute safety and efficacy results from its FULCRUM-VT Study, which evaluates the company’s Ultralow Temperature Cryoablation (ULTC) technology for treating Sustained Monomorphic Ventricular Tachycardia (SMVT). The study, presented at the 20th Annual International Symposium on Ventricular Arrhythmias, showed a 97.4% acute clinical success rate with a favorable safety profile, highlighting the potential of ULTC technology to transform VT treatment. The study involved 207 patients across 19 sites in the U.S. and Canada, with results indicating the system’s promise for a broad patient population, including those with ischemic and non-ischemic cardiomyopathy. The company plans to share further results at the Heart Rhythm 2026 conference, aiming for FDA premarket approval.

Adagio Medical Completes Enrollment for FULCRUM-VT Study

On October 1, 2025, Adagio Medical Holdings announced the completion of enrollment for its FULCRUM-VT Pivotal FDA IDE study, evaluating the vCLAS™ Cryoablation System for monomorphic ventricular tachycardia. The study, which enrolled 208 patients across 20 centers in the U.S. and Canada, aims to support a pre-market approval application for the system. The vCLAS System, granted Breakthrough Device Designation by the FDA, is expected to address the needs of patients with drug-refractory ventricular tachycardia, with the PMA process anticipated to complete by the end of 2026.