Adagio Medical Holdings, Inc.(ADGM)Stock Analysis
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Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $0.3M in revenue.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
ADGM Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Adagio Medical Holdings, Inc. (ADGM), a Healthcare sector company. ADGM is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $0.3m in revenue. Based on the latest XBRL financial filings (Q1 2026), Adagio Medical Holdings, Inc. reports net income of $-7.0M, free cash flow of $-4.1M. Top institutional holders of ADGM by reported 13-F value include PERCEPTIVE ADVISORS, Sio Capital Management,, ADAGE CAPITAL PARTNERS GP, L.L.C., based on the most recent SEC filings. ADGM trades on the Nasdaq exchange and files with the SEC under CIK 2006986. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ADGM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Adagio Medical Holdings, Inc. directly from SEC EDGAR.
Revenue
Q1 2026
$0.00
Net Income
Q1 2026
$-7.0M
Free Cash Flow
Q1 2026
$-4.1M
D/E Ratio
Q1 2026
4.00
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
Net Income
Operating Income
EPS (Diluted)
Total Assets
-10.7% YoYTotal Debt
+22.5% YoYOp. Cash Flow
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Revenue | $0.00 | — |
| Net Income | $-25.1M | — |
| Operating Income | $-21.9M | — |
| EPS (Diluted) | $-1.51 | — |
| Total Assets | $43.3M -10.7% | $48.4M |
| Total Debt | $21.0M +22.5% | $17.2M |
| Operating Cash Flow | $-19.0M | — |
AI Insight: ADGM Financial Trends
Adagio remains pre-revenue with persistent operating losses and deteriorating equity, though cash burn is decelerating.
• Operating cash burn improved from $7M (Q4 2024) to $4M (Q1 2026), a 43% reduction over five quarters.
• Net losses narrowed from $57M (Q4 2024) to $3M–$7M range in 2025–2026, showing operational discipline.
• Total debt rose 44% from $14M (Q3 2024) to $23M (Q1 2026) while equity collapsed from $77M to $6M.
⚠ Equity turned negative $1M in Q3 2025; recovered to $6M (Q1 2026) but remains critically low. Solvency risk.
⚠ Zero revenue across all periods. No evidence of commercialization or business traction to date.
AI Insight: ADGM Ratio Trends
Adagio Medical remains deeply unprofitable with negative ROIC and ROA, compounded by leverage nearly doubling to 4.00x D/E by Q1 2026.
• ROA deteriorated from -74.6% in Q1 2025 to -30.6% in Q4 2025, then worsened to -71.2% in Q1 2026, signaling persistent operational losses.
• Debt-to-equity spiked from 1.42x in Q1 2025 to 4.00x in Q1 2026 TTM, doubling leverage amid negative returns.
• ROIC remained deeply negative, ranging from -98.5% to -47.5% across 2025, with Q1 2026 TTM at -68.9%.
⚠ D/E jumped from 1.70x in Q4 2025 to 4.00x in Q1 2026 TTM—largest quarterly swing—suggests material debt issuance or equity dilution.
⚠ Only positive financial metric on record is Q3 2024 ROE 30.0% and ROA 21.4%; all subsequent periods negative.
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Available Research
13F Pro tracks comprehensive data for Adagio Medical Holdings, Inc. including:
Top Institutional Holders of ADGM
PERCEPTIVE ADVISORS LLC
$4.3M3,780,830 shSio Capital Management, LLC
$1.5M1,288,461 shADAGE CAPITAL PARTNERS GP, L.L.C.
$1.4M1,258,501 shADAR1 Capital Management, LLC
$1.4M1,205,447 shAlyeska Investment Group, L.P.
$1.3M1,159,615 shSILVERARC CAPITAL MANAGEMENT, LLC
$289.8K251,972 shShaolin Capital Management LLC
$196.8K171,170 shGEODE CAPITAL MANAGEMENT, LLC
$144.0K125,241 shAffinity Asset Advisors, LLC
$92.0K80,000 shVANGUARD FIDUCIARY TRUST CO
$61.8K53,782 sh
| Fund | Value | Shares |
|---|---|---|
| PERCEPTIVE ADVISORS LLC | $4.3M | 3,780,830 |
| Sio Capital Management, LLC | $1.5M | 1,288,461 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $1.4M | 1,258,501 |
| ADAR1 Capital Management, LLC | $1.4M | 1,205,447 |
| Alyeska Investment Group, L.P. | $1.3M | 1,159,615 |
| SILVERARC CAPITAL MANAGEMENT, LLC | $289.8K | 251,972 |
| Shaolin Capital Management LLC | $196.8K | 171,170 |
| GEODE CAPITAL MANAGEMENT, LLC | $144.0K | 125,241 |
| Affinity Asset Advisors, LLC | $92.0K | 80,000 |
| VANGUARD FIDUCIARY TRUST CO | $61.8K | 53,782 |
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Popular Research
Is ADGM a good stock to buy?
13F Pro's AI-powered analysis of Adagio Medical Holdings, Inc. (ADGM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ADGM are available on the ADGM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own ADGM?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ADGM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Adagio Medical Holdings, Inc.'s investment landscape.