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Adherium Ltd.
(Sydney:ADR)
Adherium Ltd. (ADR) vs. iShares MSCI Australia ETF (EWA)
Adherium Ltd. Business Overview & Revenue Model
Adherium Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 817.24K | 817.24K | 840.98K | 3.19M | 529.00K | 401.00K |
| Gross Profit | 111.37K | 111.37K | 267.70K | 1.69M | -690.00K | -789.00K |
| EBITDA | -12.44M | -12.44M | -11.56M | -11.50M | -12.65M | -13.03M |
| Net Income | -12.68M | -12.68M | -10.22M | -9.86M | -10.04M | -15.04M |
Balance Sheet | ||||||
| Total Assets | 3.52M | 3.52M | 9.89M | 12.68M | 8.53M | 17.04M |
| Cash, Cash Equivalents and Short-Term Investments | 43.26K | 43.26K | 6.20M | 9.08M | 5.28M | 15.18M |
| Total Debt | 3.12M | 3.12M | 93.20K | 44.00K | 85.00K | 0.00 |
| Total Liabilities | 8.28M | 8.28M | 3.41M | 3.47M | 3.00M | 3.00M |
| Stockholders Equity | -4.76M | -4.76M | 6.48M | 9.21M | 5.54M | 14.04M |
Cash Flow | ||||||
| Free Cash Flow | -10.03M | -10.03M | -10.61M | -9.32M | -9.89M | -11.30M |
| Operating Cash Flow | -9.98M | -9.98M | -10.61M | -9.28M | -9.61M | -11.27M |
| Investing Cash Flow | -48.19K | -48.19K | -37.00 | -41.00K | -279.00K | -29.00K |
| Financing Cash Flow | 3.87M | 3.87M | 7.73M | 13.07M | 0.00 | 21.90M |
Adherium Ltd. Peers Comparison
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% | |
51 Neutral | AU$24.72M | -3.22 | -103.74% | ― | 14.84% | 39.64% | |
48 Neutral | AU$29.98M | -4.94 | -58.27% | ― | -7.20% | 28.70% | |
43 Neutral | AU$46.02M | -8.27 | -513.22% | ― | -34.06% | 75.47% | |
43 Neutral | AU$5.66M | -3.55 | ― | ― | ― | -55.00% | |
39 Underperform | AU$3.12M | -0.91 | -218.52% | ― | -30.80% | -38.95% | |
37 Underperform | AU$21.46M | -0.64 | -1476.79% | ― | -2.82% | 32.47% |
Adherium Ltd. Corporate Events
Adherium Limited has disclosed substantial changes to director George Baran’s direct and indirect holdings following a series of share issues, option exercises, and conversions of convertible notes. Through Trudell Medical Limited and related transactions approved by shareholders in November 2025, Baran’s indirect interest increased to more than 842 million fully paid ordinary shares and a significantly enlarged portfolio of unlisted options, while his convertible notes position was reduced to zero as they were converted into equity. The transactions, largely priced at $0.005 per share or note with free attaching options, consolidate Baran’s equity stake and reinforce insider alignment with Adherium’s capital structure and future performance, effectively increasing long-term exposure for a key strategic director-shareholder.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium director George Baran has significantly increased his indirect equity stake in the company through Trudell Medical Limited following the conversion of convertible notes into fully paid ordinary shares and the receipt of additional attaching options. The transactions, completed in December 2025 at an issue price of $0.005 per share or note, saw Baran’s indirect holdings rise to 762,002,965 shares and a substantially higher number of unlisted options, while his convertible note balance fell to zero, indicating a material shift from debt-like instruments to equity that further aligns his interests with those of Adherium’s shareholders.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Limited has issued 554,114,211 fully paid ordinary shares without a prospectus or disclosure document under the Corporations Act and has lodged a cleansing notice so these shares can be traded on the ASX without further disclosure. The company confirmed it is up to date with its financial reporting and continuous disclosure obligations and stated there is no excluded information requiring disclosure, signalling compliance with regulatory requirements as it expands its capital base.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd has applied to the ASX for quotation of 80 million new fully paid ordinary shares (code ADR), issued on 30 December 2025. The move significantly increases the company’s quoted share base and signals a fresh injection of equity capital, which may support future operational or strategic initiatives and potentially affect existing shareholders through dilution and increased trading liquidity.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd has issued 237,075,105 unquoted options, each exercisable at $0.02 and expiring on 5 December 2028, under its existing capital management arrangements. The substantial grant of long-dated, unquoted options, which are not intended to be listed on the ASX, expands the company’s pool of derivative securities and may influence future capital structure and potential dilution outcomes for existing shareholders, depending on the rate and timing of option exercise.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd has applied to the ASX for quotation of 474,114,211 new fully paid ordinary shares (ASX code: ADR), issued on 29 December 2025. The substantial uplift in quoted securities expands the company’s listed equity base, potentially affecting capital structure and liquidity for existing and new shareholders once the additional shares commence trading.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium has surpassed its key calendar year 2025 shipment targets for its Hailie Smartinhaler platform, delivering more than 2,034 devices to Remote Patient Monitoring (RPM) patients and exceeding 4,666 total devices across all channels, ahead of its 2,000 RPM and 4,000 total patient shipment goals. The RPM channel is emerging as the main engine of near-term growth, giving Adherium direct patient relationships, recurring reimbursed revenue, and a scalable operational base that both underpins its confidence in meeting future patient targets, including 10,000 active RPM patients by the end of 2026, and strengthens its positioning to secure larger value-based care agreements with US insurers and expand into broader patient populations.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Limited has reported substantial growth in its remote patient monitoring (RPM) subscription revenues, with a projected 103.1% increase quarter-on-quarter for Q2 FY26. The company’s strategic partnerships and clinic activations have driven this growth, positioning RPM as a key revenue channel and enhancing Adherium’s market presence in digital respiratory management.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd. announced a change in the director’s interest, with Keven Gessner acquiring 4,000,000 fully paid ordinary shares and 4,000,000 unlisted options. This change, approved at the recent Annual General Meeting, signifies a strategic move to strengthen the company’s leadership stake, potentially impacting its market positioning and stakeholder confidence.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Limited has issued 19,000,000 fully paid ordinary shares without disclosure to investors under the Corporations Act. The company confirms compliance with relevant provisions and states there is no excluded information to disclose. This move is part of Adherium’s ongoing efforts to enhance its market presence and operational capabilities, potentially impacting its industry positioning and stakeholder interests.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Limited has announced the issuance of 50 million unquoted equity securities, specifically options expiring on December 5, 2028, at an exercise price of $0.020. This move is likely to impact the company’s capital structure and could provide additional resources for its ongoing operations and strategic initiatives, potentially enhancing its market position and offering value to stakeholders.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd. announced the issuance of 4,000,000 unquoted options set to expire on July 31, 2026, with an exercise price of $0.005. This move is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s financial strategy and stakeholder interests by increasing its equity base.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd. announced the quotation of 4,000,000 fully paid ordinary shares on the Australian Securities Exchange (ASX), effective December 5, 2025. This issuance is part of previously announced transactions, potentially enhancing the company’s market presence and providing additional capital for its operations, which may positively impact its stakeholders and industry positioning.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Ltd. has announced the quotation of 15,000,000 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective from December 4, 2025. This move is part of previously announced transactions and may enhance the company’s financial flexibility, potentially impacting its market position and providing opportunities for growth and development in the digital health sector.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Limited has announced a partnership with Allergy Partners to deploy its Hailie® Smartinhaler® technology across more than 100 clinics. This collaboration aims to enhance respiratory care on a large scale in the US and potentially beyond, showcasing Adherium’s commitment to improving healthcare outcomes through digital solutions.
The most recent analyst rating on (AU:ADR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Adherium Ltd. stock, see the AU:ADR Stock Forecast page.
Adherium Limited has announced the issuance of 71,005,701 fully paid ordinary shares without disclosure under the Corporations Act 2001. The company has complied with all relevant legal provisions and there is no excluded information that needs to be disclosed, indicating a transparent and compliant operation. This move could potentially enhance Adherium’s market positioning by strengthening its financial base, allowing further development and distribution of its digital health solutions.
Adherium Ltd. has announced the quotation of 71,005,701 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective November 14, 2025. This move is part of the company’s strategy to enhance its capital structure, potentially strengthening its market position in the digital health sector and providing additional resources to support its growth and innovation initiatives.
Adherium Limited announced the successful outcome of its Annual General Meeting, where all resolutions, including a special resolution, were approved by shareholders. This development signifies strong shareholder support and could enhance Adherium’s operational strategies and market positioning, potentially benefiting stakeholders by reinforcing confidence in the company’s governance and future initiatives.
Adherium Ltd. has released a presentation outlining its position in the respiratory care market. The announcement highlights the company’s strategic focus on developing medical devices, while acknowledging the inherent risks and uncertainties in the industry, such as regulatory approvals and market penetration. Stakeholders are advised to consider these factors when evaluating the company’s future performance.
Adherium Ltd. announced a proposed issue of 15 million fully paid ordinary securities, set to be issued on November 25, 2025. This strategic move is likely aimed at raising capital to support the company’s ongoing operations and growth initiatives, potentially enhancing its market position and providing value to its stakeholders.
Adherium Limited has engaged Stralis Capital Partners as its strategic and capital markets advisor to assist with capital management initiatives, including early exercise of options and potential equity capital raising. This partnership aims to enhance Adherium’s capital markets strategy by providing specialist advice and execution capability, with Stralis Capital acting as lead manager for any equity raising activities over the next six months. As compensation, Stralis Capital will receive 15,000,000 fully paid ordinary shares, valued at $75,000, unless shareholder approval necessitates a cash fee. This engagement supports Adherium’s efforts to strengthen its financial positioning and operational capabilities in the digital health sector.
Adherium Limited has successfully raised $2,472,505.205 through the issuance of fully paid ordinary shares following the exercise of 494,501,041 options. This capital raise, conducted without disclosure to investors under specific sections of the Corporations Act, indicates the company’s compliance with relevant legislative provisions and its ongoing commitment to enhancing its financial position. The move is expected to bolster Adherium’s operations and strengthen its market position in the digital health and connected respiratory device industry.
Adherium Limited has announced a change in the director’s interest, specifically involving George Baran, who has increased his indirect interest in the company. This change involves the conversion of options into fully paid ordinary shares and the issuance of bonus options, reflecting a strategic move that could potentially strengthen the company’s market position and stakeholder confidence.
Adherium Ltd. has announced the quotation of a significant number of ordinary fully paid securities on the Australian Securities Exchange (ASX), totaling over 494 million shares. This move is likely to enhance the company’s capital structure and potentially strengthen its market position, offering new opportunities for growth and development in the digital health sector.
Adherium Ltd. has announced the issuance of a significant number of unquoted equity securities, totaling over 494 million options set to expire in November 2026. This strategic move is part of previously announced transactions, potentially impacting the company’s financial structure and market positioning by bolstering its capital resources.
Adherium Limited has issued 62,666,668 fully paid ordinary shares without disclosure under Part 6D.2 of the Corporations Act 2001. The company confirms compliance with relevant provisions of the Corporations Act and states that no excluded information needs to be disclosed. This announcement reflects Adherium’s ongoing efforts to enhance its financial position and operational capabilities, potentially impacting its market presence and stakeholder interests.
Adherium Ltd has announced a change in the interest of its director, Louis Panaccio, involving the conversion of unlisted options into fully paid ordinary shares and the issuance of bonus options. This change reflects a strategic move in the company’s financial structuring, potentially impacting its market positioning and shareholder value by increasing the director’s stake in the company.
Adherium Ltd. has announced the quotation of 62,666,668 ordinary fully paid securities on the ASX, following the exercise of options and conversion of other convertible securities. This move is expected to bolster the company’s market presence and provide additional capital for its ongoing operations, potentially impacting its industry positioning and offering new opportunities for stakeholders.
Adherium Limited has announced the issuance of a significant number of unquoted equity securities, totaling over 62 million options set to expire in November 2026. This move is part of a previously announced transaction and is not intended to be quoted on the ASX, indicating a strategic decision to bolster the company’s financial positioning and operational capabilities.
Adherium Limited reported a significant 55% increase in device shipments for the quarter ending September 2025, driven by the launch of a new patient education call center and strong partnerships. The company also highlighted groundbreaking results from the iCARE study, demonstrating high adherence rates and validating the Hailie® platform’s value for healthcare systems. These developments are expected to strengthen Adherium’s market position and drive future growth.
Adherium Ltd. has announced the issuance of over one million unquoted equity securities, specifically options set to expire in November 2026. This move is part of previously announced transactions and reflects the company’s ongoing efforts to enhance its financial structure, potentially impacting its market positioning and stakeholder interests.
Adherium Ltd. has announced the quotation of 1,004,372 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective from October 21, 2025. This move signifies the company’s ongoing efforts to strengthen its financial position and increase its market presence, potentially benefiting stakeholders by enhancing liquidity and investment opportunities.
Adherium Limited announced a correction to a previous notification regarding the number of issued options due to an administrative error. This update, which affects the company’s unquoted equity securities, highlights the importance of accurate reporting and may influence stakeholders’ perception of the company’s operational diligence.