Logo

ABCL

AbCellera Biologics Inc.

ABCL

AbCellera Biologics Inc. • NASDAQ
$3.73 ▲ 2.47% (+0.09)
Market Cap $1.12 B
52w High $6.51
52w Low $1.89
Dividend Yield 0%
P/E -6.54
Volume 2.96M
Outstanding Shares 299.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $8.955M ▼ $85.233M ▲ $-57.119M ▼ -637.845% ▼ $-0.19 ▼ $-40.224M ▼
Q2-2025 $17.084M ▲ $59.61M ▼ $-34.727M ▲ -203.272% ▲ $-0.12 ▲ $-38.833M ▲
Q1-2025 $4.235M ▼ $66.895M ▼ $-45.621M ▼ -1.077K% ▼ $-0.15 ▼ $-51.902M ▲
Q4-2024 $5.05M ▼ $77.805M ▲ $-34.21M ▲ -677.426% ▲ $-0.12 ▲ $-55.311M ▼
Q3-2024 $6.507M $61.875M $-51.107M -785.416% $-0.17 $-51.877M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $520.672M ▼ $1.356B ▼ $391.954M ▼ $964.038M ▼
Q2-2025 $553.078M ▼ $1.402B ▲ $394.985M ▲ $1.007B ▼
Q1-2025 $605.266M ▼ $1.344B ▼ $321.226M ▲ $1.023B ▼
Q4-2024 $625.614M ▼ $1.361B ▼ $304.469M ▼ $1.056B ▼
Q3-2024 $643.139M $1.393B $314.734M $1.078B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-57.119M ▼ $-52.594M ▼ $36.488M ▲ $7.372M ▲ $-9.278M ▲ $-61.522M ▼
Q2-2025 $-34.727M ▲ $-32.404M ▼ $-31.811M ▼ $-3.375M ▼ $-66.829M ▼ $-45.769M ▼
Q1-2025 $-45.621M ▼ $-11.554M ▼ $7.935M ▼ $5.97M ▲ $2.941M ▼ $-22.19M ▲
Q4-2024 $-34.21M ▲ $-8M ▲ $35.703M ▲ $4.142M ▲ $29.685M ▲ $-23.63M ▲
Q3-2024 $-51.107M $-28.997M $3.944M $3.15M $-21.672M $-47.582M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License
License
 $0 ▲$0 ▲$10.00M ▲$0 ▼
Research Fees
Research Fees
 $10.00M ▲$0 ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement AbCellera’s income statement shows a company in transition. A few years ago it was generating solid profits from its platform and partnerships, but revenue has since fallen sharply and turned much more uneven. As a result, profits have swung to losses, and those losses have been widening. Gross profitability has weakened, and operating costs now noticeably outweigh current revenue. This is typical of a biotech moving from a service-oriented model toward building its own drug pipeline, but it means the business is currently in an investment and loss-making phase rather than a profit-generating one.

Balance Sheet

Balance Sheet The balance sheet is a relative strength. AbCellera still holds a sizable cash position and a solid base of shareholder equity, with only modest debt. Total assets remain well above where they were at the time of the IPO, even though they have edged down from their peak. The main watch point is that cash has been drawn down over time to fund operations and capital projects. Overall, the company appears to have a meaningful financial cushion, but it is clearly being used to support growth and R&D, not sitting idle.

Cash Flow

Cash Flow Cash flow has moved from positive to clearly negative. Earlier, the business generated cash from operations, but in the last two years it has been burning cash as revenue dropped and spending stayed high. Free cash flow is also negative, reflecting both operating losses and ongoing capital spending, such as building out manufacturing capabilities. In simple terms, the company is now relying on its existing cash and balance sheet strength to fund its strategy, and future cash health will depend heavily on new partnership income, milestones, and eventual product success.

Competitive Edge

Competitive Edge AbCellera occupies a promising niche in antibody discovery, with an integrated platform that combines advanced screening technologies and AI. Its ability to rapidly identify antibody candidates and work on difficult biological targets gives it a noticeable edge versus more traditional approaches. The company’s growing data assets and broad partnering strategy further reinforce this position. At the same time, the antibody and biologics space is crowded, with large pharmaceutical companies and other platform biotechs also investing heavily. AbCellera’s challenge is to convert its technological edge and partnerships into a steady stream of high-value drugs and royalties in a competitive and regulated market.

Innovation and R&D

Innovation and R&D Innovation and R&D are clearly at the heart of AbCellera’s story. The company is investing heavily in its full-stack antibody discovery engine, expanding from a fee-for-service model into developing its own clinical pipeline. Lead programs in women’s health and autoimmune disease, along with a focus on tough targets like membrane proteins, illustrate a willingness to tackle complex problems. Building in-house manufacturing should give more control over timelines and quality but adds to upfront costs. The key uncertainties are clinical: whether its internal programs show strong data, advance on schedule, and successfully differentiate from existing therapies.

Summary

AbCellera is shifting from a profitable, partnership-driven platform toward a more ambitious, higher-risk biopharmaceutical model. Financially, that has meant weaker revenue, the move from profit to losses, and negative cash flow, all funded by a still-solid but gradually declining cash and asset base. Strategically, the company appears well positioned with advanced technology, deep data, and a growing pipeline, but it now depends much more on successful drug development, regulatory progress, and sustained partner demand. The core tension for the next several years is whether its scientific and platform strengths can mature into durable, diversified revenue before the financial cushion tightens further.

NEWS

November 10, 2025 · 9:00 AM UTC

AbCellera Appoints Dr. Stephen Quake to its Board of Directors

Read more

November 6, 2025 · 4:05 PM UTC

AbCellera Reports Q3 2025 Business Results

Read more

October 7, 2025 · 4:05 PM UTC

AbCellera to Participate at Upcoming Investor Conferences in November and December 2025

Read more

September 29, 2025 · 4:05 PM UTC

AbCellera to Report Third Quarter 2025 Financial Results on November 6, 2025

Read more

September 10, 2025 · 9:07 AM UTC

AbCellera Appoints Dr. Sarah Noonberg as Chief Medical Officer

Read more