Abcellera Biologics Inc. Financials

ABCL

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Abcellera Biologics Inc. (ABCL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 40/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Abcellera Biologics Inc. has an operating margin of -1091.7%, meaning the company retains $-1092 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -623.8% the prior year.

Growth

Abcellera Biologics Inc.'s revenue declined 24.2% year-over-year, from $38.0M to $28.8M. This contraction results in a growth score of 0/100.

Leverage

100

Abcellera Biologics Inc. carries a low D/E ratio of 0.29, meaning only $0.29 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 9.81, Abcellera Biologics Inc. holds $9.81 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Abcellera Biologics Inc. generated -$108.6M in operating cash flow, capex of $78.4M consumed most of it, leaving -$187.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Abcellera Biologics Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.67x

For every $1 of reported earnings, Abcellera Biologics Inc. generates $0.67 in operating cash flow (-$108.6M OCF vs -$162.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$28.8M

YoY-24.2%

5Y CAGR+19.9%

Abcellera Biologics Inc. generated $28.8M in revenue in fiscal year 2024. This represents a decrease of 24.2% from the prior year.

EBITDA

-$287.9M

YoY-35.3%

Abcellera Biologics Inc.'s EBITDA was -$287.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 35.3% from the prior year.

Free Cash Flow

-$187.0M

YoY-54.7%

Abcellera Biologics Inc. generated -$187.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 54.7% from the prior year.

Net Income

-$162.9M

YoY-11.2%

Abcellera Biologics Inc. reported -$162.9M in net income in fiscal year 2024. This represents a decrease of 11.2% from the prior year.

EPS (Diluted)

$-0.55

YoY-7.8%

Abcellera Biologics Inc. earned $-0.55 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 7.8% from the prior year.

Cash & Debt

$156.3M

YoY+17.3%

Abcellera Biologics Inc. held $156.3M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

296M

YoY+1.7%

Abcellera Biologics Inc. had 296M shares outstanding in fiscal year 2024. This represents an increase of 1.7% from the prior year.

Gross Margin

N/A

Operating Margin

-1091.7%

YoY-467.9pp

5Y CAGR-1056.2pp

Abcellera Biologics Inc.'s operating margin was -1091.7% in fiscal year 2024, reflecting core business profitability. This is down 467.9 percentage points from the prior year.

Net Margin

-564.8%

YoY-179.8pp

5Y CAGR-545.8pp

Abcellera Biologics Inc.'s net profit margin was -564.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 179.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$167.3M

YoY-4.8%

5Y CAGR+75.3%

Abcellera Biologics Inc. invested $167.3M in research and development in fiscal year 2024. This represents a decrease of 4.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$78.4M

YoY+1.9%

5Y CAGR+81.3%

Abcellera Biologics Inc. invested $78.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1.9% from the prior year.

ABCL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$28.8M-24.2%	$38.0M-92.2%	$485.4M+29.4%	$375.2M+60.9%	$233.2M+1907.9%	$11.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$167.3M-4.8%	$175.7M+62.8%	$107.9M+73.8%	$62.1M+111.1%	$29.4M+190.6%	$10.1M
SG&A Expenses	$72.7M+19.2%	$61.0M+9.9%	$55.5M+32.6%	$41.8M+251.4%	$11.9M+333.2%	$2.7M
Operating Income	-$314.8M-32.7%	-$237.2M-209.6%	$216.5M+5.9%	$204.4M+31.0%	$156.0M+3889.9%	-$4.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$37.5M-35.9%	-$27.6M-134.3%	$80.6M+22.7%	$65.7M+68.8%	$38.9M	N/A
Net Income	-$162.9M-11.2%	-$146.4M-192.4%	$158.5M+3.3%	$153.5M+29.1%	$118.9M+5478.5%	-$2.2M
EPS (Diluted)	$-0.55-7.8%	$-0.51-202.0%	$0.50+4.2%	$0.48+6.7%	$0.45+4600.0%	$-0.01

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$9.0M-47.6%	$17.1M+303.4%	$4.2M-16.1%	$5.0M-31.1%	$7.3M-26.4%	$10.0M+8.5%	$9.2M+39.1%	$6.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$55.0M+40.3%	$39.2M-7.7%	$42.5M-7.8%	$46.1M+12.6%	$40.9M+4.2%	$39.3M-19.2%	$48.6M+28.2%	$37.9M
SG&A Expenses	$22.1M+16.2%	$19.0M+17.0%	$16.2M+1.3%	$16.0M-20.7%	$20.2M+16.4%	$17.4M+8.6%	$16.0M+11.2%	$14.4M
Operating Income	-$76.3M-53.8%	-$49.6M+20.9%	-$62.7M+13.9%	-$72.8M+22.1%	-$93.5M-70.2%	-$54.9M+16.9%	-$66.1M-20.3%	-$54.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$11.6M-620.4%	-$1.6M+78.0%	-$7.4M+41.7%	-$12.6M-12.1%	-$11.3M-426.8%	-$2.1M-47.3%	-$1.5M+86.4%	-$10.7M
Net Income	-$57.1M-64.5%	-$34.7M+23.9%	-$45.6M-33.4%	-$34.2M+7.4%	-$36.9M+9.1%	-$40.6M+13.9%	-$47.1M-64.8%	-$28.6M
EPS (Diluted)	$-0.19-58.3%	$-0.12+20.0%	$-0.15-36.4%	$-0.11+15.4%	$-0.13+7.1%	$-0.14+12.5%	$-0.16-60.0%	$-0.10

ABCL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.4B-8.6%	$1.5B-3.4%	$1.5B+16.9%	$1.3B+31.1%	$1.0B	N/A
Current Assets	$751.4M-13.8%	$872.0M-15.0%	$1.0B+10.3%	$929.8M+14.3%	$813.3M	N/A
Cash & Equivalents	$156.3M+17.3%	$133.3M-65.5%	$386.5M-18.8%	$476.1M-19.9%	$594.1M	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	$903K	N/A
Goodwill	$47.8M0.0%	$47.8M0.0%	$47.8M0.0%	$47.8M+51.8%	$31.5M	N/A
Total Liabilities	$304.5M-9.3%	$335.8M+9.1%	$307.6M+5.1%	$292.8M+67.3%	$175.0M	N/A
Current Liabilities	$76.6M-35.6%	$119.0M+0.6%	$118.3M-2.0%	$120.7M+16.6%	$103.5M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.1B-8.4%	$1.2B-6.6%	$1.2B+20.2%	$1.0B+23.5%	$830.5M+8000.9%	$10.3M
Retained Earnings	$116.9M-58.2%	$279.8M-34.4%	$426.2M+59.2%	$267.7M+134.4%	$114.2M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.4B-3.3%	$1.4B+4.3%	$1.3B-1.2%	$1.4B-3.7%	$1.4B-3.5%	$1.5B-1.7%	$1.5B-1.6%	$1.5B
Current Assets	$695.1M-6.3%	$742.1M-3.0%	$765.0M+1.8%	$751.4M-2.6%	$771.6M-5.2%	$813.9M-6.7%	$872.0M-5.2%	$919.5M
Cash & Equivalents	$83.2M-10.0%	$92.4M-42.0%	$159.3M+1.9%	$156.3M+5.4%	$148.3M+20.0%	$123.6M-7.3%	$133.3M-22.7%	$172.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$47.8M0.0%	$47.8M0.0%	$47.8M0.0%	$47.8M0.0%	$47.8M0.0%	$47.8M0.0%	$47.8M0.0%	$47.8M
Total Liabilities	$392.0M-0.8%	$395.0M+23.0%	$321.2M+5.5%	$304.5M+1.0%	$301.5M-9.5%	$333.2M-0.8%	$335.8M+1.9%	$329.4M
Current Liabilities	$68.8M+2.7%	$67.0M-11.1%	$75.4M-1.6%	$76.6M+8.9%	$70.4M-32.9%	$104.9M-11.9%	$119.0M+8.0%	$110.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$964.0M-4.3%	$1.0B-1.6%	$1.0B-3.1%	$1.1B-4.9%	$1.1B-1.7%	$1.1B-1.9%	$1.2B-2.6%	$1.2B
Retained Earnings	-$20.5M-156.1%	$36.6M-48.7%	$71.3M-39.0%	$116.9M-42.2%	$202.2M-15.4%	$239.2M-14.5%	$279.8M-14.4%	$326.9M

ABCL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$108.6M-147.4%	-$43.9M-115.8%	$277.4M+13.4%	$244.6M+977.9%	$22.7M+742.2%	$2.7M
Capital Expenditures	$78.4M+1.9%	$76.9M+8.9%	$70.7M+20.9%	$58.5M+504.3%	$9.7M+142.0%	$4.0M
Free Cash Flow	-$187.0M-54.7%	-$120.8M-158.5%	$206.7M+11.1%	$186.1M+1329.9%	$13.0M+1099.0%	-$1.3M
Investing Cash Flow	$121.4M+154.9%	-$221.1M+37.3%	-$352.6M-6.1%	-$332.2M-177.4%	-$119.8M-1972.3%	-$5.8M
Financing Cash Flow	$12.8M+23.3%	$10.4M+736.1%	-$1.6M+58.1%	-$3.9M-100.6%	$683.7M+350491.3%	$195K
Dividends Paid	$0	$0	$0	$0	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$52.6M-62.3%	-$32.4M-180.5%	-$11.6M-44.4%	-$8.0M+73.3%	-$30.0M+28.2%	-$41.7M-112.7%	-$19.6M-18400.9%	-$106K
Capital Expenditures	$8.9M-33.2%	$13.4M+25.7%	$10.6M-32.0%	$15.6M-22.3%	$20.1M-16.7%	$24.1M+67.3%	$14.4M-29.0%	$20.3M
Free Cash Flow	-$61.5M-34.4%	-$45.8M-106.3%	-$22.2M+6.1%	-$23.6M+52.8%	-$50.1M+24.0%	-$65.8M-93.4%	-$34.0M-66.6%	-$20.4M
Investing Cash Flow	$36.5M+214.7%	-$31.8M-500.9%	$7.9M-77.8%	$35.7M-31.5%	$52.1M+74.2%	$29.9M+223.0%	-$24.3M-90.2%	-$12.8M
Financing Cash Flow	$7.4M+318.4%	-$3.4M-156.5%	$6.0M+44.1%	$4.1M+56.2%	$2.7M-6.4%	$2.8M-24.8%	$3.8M-43.2%	$6.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ABCL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1091.7%-467.9pp	-623.8%-668.4pp	44.6%-9.9pp	54.5%-12.4pp	66.9%+102.4pp	-35.4%
Net Margin	-564.8%-179.8pp	-385.0%-417.7pp	32.7%-8.2pp	40.9%-10.1pp	51.0%+70.0pp	-19.0%
Return on Equity	N/A	N/A	12.8%-2.1pp	15.0%+0.6pp	14.3%	N/A
Return on Assets	-12.0%-2.1pp	-9.8%-20.1pp	10.3%-1.3pp	11.6%-0.2pp	11.8%	N/A
Current Ratio	9.81+2.5	7.33-1.3	8.67+1.0	7.70-0.2	7.86	N/A
Debt-to-Equity	0.290.0	0.29+0.0	0.25-0.0	0.29+0.1	0.21	N/A
FCF Margin	-648.4%-330.6pp	-317.8%-360.3pp	42.6%-7.0pp	49.6%+44.0pp	5.6%+16.8pp	-11.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-851.8%-561.5pp	-290.2%+1189.3pp	-1479.6%-38.6pp	-1441.0%-164.8pp	-1276.2%-724.7pp	-551.5%+168.2pp	-719.7%+112.1pp	-831.8%
Net Margin	-637.8%-434.6pp	-203.3%+874.0pp	-1077.2%-399.7pp	-677.6%-173.3pp	-504.3%-96.3pp	-408.0%+105.8pp	-513.7%-80.2pp	-433.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-4.2%-1.7pp	-2.5%+0.9pp	-3.4%-0.9pp	-2.5%+0.1pp	-2.6%+0.2pp	-2.8%+0.4pp	-3.2%-1.3pp	-1.9%
Current Ratio	10.10-1.0	11.07+0.9	10.15+0.3	9.81-1.2	10.96+3.2	7.76+0.4	7.33-1.0	8.34
Debt-to-Equity	0.41+0.0	0.39+0.1	0.31+0.0	0.29+0.0	0.27-0.0	0.290.0	0.29+0.0	0.28
FCF Margin	-687.0%-419.1pp	-267.9%+256.1pp	-524.0%-56.0pp	-468.0%+215.8pp	-683.8%-22.3pp	-661.5%-290.6pp	-370.9%-61.2pp	-309.7%

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Frequently Asked Questions

What is Abcellera Biologics Inc.'s annual revenue?

Abcellera Biologics Inc. (ABCL) reported $28.8M in total revenue for fiscal year 2024. This represents a -24.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Abcellera Biologics Inc.'s revenue growing?

Abcellera Biologics Inc. (ABCL) revenue declined by 24.2% year-over-year, from $38.0M to $28.8M in fiscal year 2024.

Is Abcellera Biologics Inc. profitable?

No, Abcellera Biologics Inc. (ABCL) reported a net income of -$162.9M in fiscal year 2024, with a net profit margin of -564.8%.

What is Abcellera Biologics Inc.'s earnings per share (EPS)?

Abcellera Biologics Inc. (ABCL) reported diluted earnings per share of $-0.55 for fiscal year 2024. This represents a -7.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Abcellera Biologics Inc.'s EBITDA?

Abcellera Biologics Inc. (ABCL) had EBITDA of -$287.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Abcellera Biologics Inc.'s operating margin?

Abcellera Biologics Inc. (ABCL) had an operating margin of -1091.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Abcellera Biologics Inc.'s net profit margin?

Abcellera Biologics Inc. (ABCL) had a net profit margin of -564.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Abcellera Biologics Inc.'s free cash flow?

Abcellera Biologics Inc. (ABCL) generated -$187.0M in free cash flow during fiscal year 2024. This represents a -54.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Abcellera Biologics Inc.'s operating cash flow?

Abcellera Biologics Inc. (ABCL) generated -$108.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Abcellera Biologics Inc.'s total assets?

Abcellera Biologics Inc. (ABCL) had $1.4B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Abcellera Biologics Inc.'s capital expenditures?

Abcellera Biologics Inc. (ABCL) invested $78.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Abcellera Biologics Inc. spend on research and development?

Abcellera Biologics Inc. (ABCL) invested $167.3M in research and development during fiscal year 2024.

How many shares does Abcellera Biologics Inc. have outstanding?

Abcellera Biologics Inc. (ABCL) had 296M shares outstanding as of fiscal year 2024.

What is Abcellera Biologics Inc.'s current ratio?

Abcellera Biologics Inc. (ABCL) had a current ratio of 9.81 as of fiscal year 2024, which is generally considered healthy.

What is Abcellera Biologics Inc.'s debt-to-equity ratio?

Abcellera Biologics Inc. (ABCL) had a debt-to-equity ratio of 0.29 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Abcellera Biologics Inc.'s return on assets (ROA)?

Abcellera Biologics Inc. (ABCL) had a return on assets of -12.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Abcellera Biologics Inc.'s cash runway?

Based on fiscal year 2024 data, Abcellera Biologics Inc. (ABCL) had $156.3M in cash against an annual operating cash burn of $108.6M. This gives an estimated cash runway of approximately 17 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Abcellera Biologics Inc.'s Piotroski F-Score?

Abcellera Biologics Inc. (ABCL) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Abcellera Biologics Inc.'s earnings high quality?

Abcellera Biologics Inc. (ABCL) has an earnings quality ratio of 0.67x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Abcellera Biologics Inc.?

Abcellera Biologics Inc. (ABCL) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.