Adagio Medical Holdings, Inc.

For the period ended Mar 31, 2026. Filed May 12, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 12, 2026

ADGM$1.92Day change unavailableStored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

Condensed Consolidated Balance Sheets

(in thousands, except share data)


· · March 31, · · December 31,
· · 2026 · · 2025
Assets
Current assets:
Cash and cash equivalents	$12,909	$17,105
Inventory, net	1,604	1,672
Prepaid expenses	1,061	989
Other current assets	281	316
Total current assets	15,855	20,082
Property and equipment, net	1,325	1,535
Right-of-use assets, net	1,191	697
Intangible assets, net	6,969	6,969
Goodwill, net	13,967	13,967
Other assets	1	3
Total assets	$39,308	$43,253
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$1,217	$1,082
Accrued liabilities	7,131	6,996
Operating lease liabilities, current	225	155
Total current liabilities	8,573	8,233
Operating lease liabilities, long-term	992	563
Convertible notes payable, net	22,872	21,040
Warrant liabilities	263	132
Deferred tax liabilities, net	883	883
Total liabilities	33,583	30,851
Commitments and contingencies (Note 11)
Stockholders’ equity:
Common stock, $0.0001 par value; 210,000,000 shares authorized at March 31, 2026 and December 31, 2025; 22,210,459 and 22,210,459 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	2	2
Additional paid-in capital	108,497	108,108
Accumulated other comprehensive loss	(143)	(99)
Accumulated deficit	(102,631)	(95,609)
Total stockholders’ equity	5,725	12,402
Total liabilities and stockholders’ equity	$39,308	$43,253

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data)


· · Three Months Ended March 31,
· · 2026 · · 2025
Revenue	$—	$—
Cost of revenue and operating expenses:
Cost of revenue	—	253
Research and development	2,741	3,659
Selling, general, and administrative	2,459	3,485
Total cost of revenue and operating expenses	5,200	7,397
Loss from operations	(5,200)	(7,397)
Other income (expense):
Convertible notes fair value adjustment	(1,063)	190
Warrant liabilities fair value adjustment	(131)	38
Interest expense	(778)	(662)
Interest income	107	164
Other income (expense), net	70	(46)
Total other loss, net	(1,795)	(316)
Net loss	$(6,995)	$(7,713)
Other comprehensive loss:
Foreign currency translation adjustment	(44)	(61)
Comprehensive loss	$(7,039)	$(7,774)

Basic net loss per share	$(0.31)	$(0.50)
Diluted net loss per share	$(0.31)	$(0.51)
Weighted-average shares used to compute net loss per common share, basic and diluted	22,210,459	15,375,521

Condensed Consolidated Statements of Stockholders’ Equity

(in thousands, except share data)






· · Three Months Ended March 31, 2026
· · · · · · · · · Accumulated · ·
· · · · · · · Additional · · · · · Other · · Total
· · Common Stock · · Paid-in · · Accumulated · · Comprehensive · · Stockholders’
· · Shares · · Amount · · Capital · · Deficit · · Loss · · Equity
Balance as of December 31, 2025	22,210,459	$2	$108,108	$(95,609)	$(99)	$12,402
Foreign currency translation adjustment	—	—	—	(27)	(44)	(71)
Stock-based compensation	—	—	389	—	—	389
Net loss	—	—	—	(6,995)	—	(6,995)
Balance as of March 31, 2026	22,210,459	$2	$108,497	$(102,631)	$(143)	$5,725





· · Three Months Ended March 31, 2025
· · · · · · · · · · · · · Accumulated · · ·
· · · · · · · Additional · · · · Other · · Total
· · Common Stock · · Paid-in · · Accumulated · · Comprehensive · · Stockholders’
· · Shares · · Amount · · Capital · · Deficit · · Loss · · Equity
Balance as of December 31, 2024	15,198,232	$2	$90,495	$(70,586)	$1	$19,912
Foreign currency translation adjustment	—	—	—	43	(61)	(18)
Issuance of Waiver Shares	183,333	—	—	—	—	—
Stock-based compensation	—	—	218	—	—	218
Net loss	—	—	—	(7,713)	—	(7,713)
Balance as of March 31, 2025	15,381,565	$2	$90,713	$(78,256)	$(60)	$12,399

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.