Adicet Bio Inc Financials

ACET

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

Financial Health Signals

Piotroski F-Score Weak

3/9

Adicet Bio Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.79x

For every $1 of reported earnings, Adicet Bio Inc generates $0.79 in operating cash flow (-$92.4M OCF vs -$117.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-31903.8x

Adicet Bio Inc earns $-31903.8 in operating income for every $1 of interest expense (-$127.6M vs $4K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Adicet Bio Inc (ACET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$121.1M

YoY+17.0%

Adicet Bio Inc's EBITDA was -$121.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.0% from the prior year.

Free Cash Flow

-$93.5M

YoY+4.8%

Adicet Bio Inc generated -$93.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 4.8% from the prior year.

Net Income

-$117.1M

YoY+17.9%

Adicet Bio Inc reported -$117.1M in net income in fiscal year 2024. This represents an increase of 17.9% from the prior year.

EPS (Diluted)

$-1.33

YoY+59.8%

Adicet Bio Inc earned $-1.33 per diluted share (EPS) in fiscal year 2024. This represents an increase of 59.8% from the prior year.

Cash & Debt

$56.5M

YoY-64.6%

5Y CAGR+39.7%

Adicet Bio Inc held $56.5M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

83M

YoY+90.8%

Adicet Bio Inc had 83M shares outstanding in fiscal year 2024. This represents an increase of 90.8% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$99.3M

YoY-6.3%

5Y CAGR+33.2%

Adicet Bio Inc invested $99.3M in research and development in fiscal year 2024. This represents a decrease of 6.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.1M

YoY-75.0%

5Y CAGR+0.9%

Adicet Bio Inc invested $1.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 75.0% from the prior year.

ACET Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
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	$99.3M-6.3%	$106.0M+48.8%	$71.2M+45.6%	$48.9M+42.5%	$34.3M+44.9%	$23.7M
SG&A Expenses	$28.3M+6.6%	$26.5M+0.9%	$26.3M+18.3%	$22.2M-2.4%	$22.8M+161.8%	$8.7M
Operating Income	-$127.6M+16.1%	-$152.0M-109.6%	-$72.6M-18.1%	-$61.4M-56.8%	-$39.2M-24.9%	-$31.4M
Interest Expense	$4K-84.0%	$25K-68.8%	$80K-54.5%	$176K+31.3%	$134K	N/A
Income Tax	$0	$0	$0+100.0%	-$125K+95.6%	-$2.8M-14915.8%	$19K
Net Income	-$117.1M+17.9%	-$142.7M-104.4%	-$69.8M-12.6%	-$62.0M-69.0%	-$36.7M-30.4%	-$28.1M
EPS (Diluted)	$-1.33+59.8%	$-3.31-94.7%	$-1.70+15.0%	$-2.00	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$22.9M-13.0%	$26.3M	N/A	$26.2M	N/A	$16.6M	N/A	$11.9M
SG&A Expenses	$5.1M-26.1%	$6.9M	N/A	$6.6M	N/A	$6.4M	N/A	$5.2M
Operating Income	-$28.0M+15.7%	-$33.2M	N/A	-$52.3M	N/A	-$23.0M	N/A	-$13.7M
Interest Expense	$12K+1100.0%	$1K	N/A	$1K	N/A	$18K	N/A	$50K
Income Tax	$0	$0	N/A	$0	N/A	$0	N/A	$11K
Net Income	-$26.9M+11.9%	-$30.5M	N/A	-$49.9M	N/A	-$22.0M	N/A	-$14.0M
EPS (Diluted)	$-0.29+14.7%	$-0.34	N/A	$-1.16	N/A	$-0.53	N/A	$-0.44

ACET Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$220.2M+6.2%	$207.3M-37.3%	$330.7M-2.4%	$338.9M+120.3%	$153.8M+88.6%	$81.6M
Current Assets	$180.1M+11.0%	$162.3M-37.8%	$261.0M-7.6%	$282.4M+181.5%	$100.3M+56.3%	$64.2M
Cash & Equivalents	$56.5M-64.6%	$159.7M-38.0%	$257.7M-7.2%	$277.5M+229.1%	$84.3M+695.0%	$10.6M
Inventory	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
Goodwill	N/A	$0-100.0%	$19.5M0.0%	$19.5M-3.1%	$20.1M	N/A
Total Liabilities	$33.6M-9.5%	$37.1M-3.2%	$38.4M+7.1%	$35.8M-18.6%	$44.0M-69.0%	$142.0M
Current Liabilities	$19.4M+0.5%	$19.3M-2.1%	$19.7M+20.8%	$16.3M-27.4%	$22.5M+51.2%	$14.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$186.6M+9.7%	$170.2M-41.8%	$292.3M-3.6%	$303.1M+176.0%	$109.8M+281.9%	-$60.4M
Retained Earnings	-$497.9M-30.8%	-$380.8M-59.9%	-$238.1M-41.5%	-$168.3M-58.3%	-$106.3M-52.7%	-$69.6M

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Total Assets	$140.5M-36.2%	$220.2M+6.2%	$207.3M-11.1%	$233.3M-29.5%	$330.7M-6.7%	$354.3M+4.5%	$338.9M+31.8%	$257.2M
Current Assets	$106.5M-40.9%	$180.1M+11.0%	$162.3M-12.7%	$185.9M-28.8%	$261.0M-8.6%	$285.7M+1.2%	$282.4M+41.9%	$199.0M
Cash & Equivalents	$29.1M-48.5%	$56.5M-64.6%	$159.7M-12.8%	$183.3M-28.9%	$257.7M-8.9%	$282.7M+1.9%	$277.5M+44.4%	$192.2M
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	N/A	N/A	$0	$0-100.0%	$19.5M0.0%	$19.5M0.0%	$19.5M0.0%	$19.5M
Total Liabilities	$31.3M-6.8%	$33.6M-9.5%	$37.1M-3.8%	$38.6M+0.6%	$38.4M+4.7%	$36.6M+2.3%	$35.8M-10.4%	$40.0M
Current Liabilities	$18.9M-2.3%	$19.4M+0.5%	$19.3M-2.4%	$19.8M+0.3%	$19.7M+14.4%	$17.2M+5.5%	$16.3M-18.5%	$20.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$109.1M-41.5%	$186.6M+9.7%	$170.2M-12.6%	$194.7M-33.4%	$292.3M-8.0%	$317.7M+4.8%	$303.1M+39.5%	$217.2M
Retained Earnings	-$584.2M-17.3%	-$497.9M-30.8%	-$380.8M-8.4%	-$351.3M-47.5%	-$238.1M-14.3%	-$208.2M-23.7%	-$168.3M-10.4%	-$152.5M

ACET Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$92.4M+1.4%	-$93.7M-109.4%	-$44.8M+12.3%	-$51.1M-22.9%	-$41.6M-49.0%	-$27.9M
Capital Expenditures	$1.1M-75.0%	$4.5M-73.4%	$16.8M+28.6%	$13.0M+1217.8%	$990K-7.5%	$1.1M
Free Cash Flow	-$93.5M+4.8%	-$98.2M-59.5%	-$61.5M+4.0%	-$64.1M-50.7%	-$42.5M-46.9%	-$29.0M
Investing Cash Flow	-$119.2M-2571.2%	-$4.5M+73.4%	-$16.8M-500.2%	-$2.8M-102.4%	$115.2M+340.4%	-$47.9M
Financing Cash Flow	$111.3M+47064.0%	$236K-99.4%	$41.5M-82.9%	$242.7M+79994.1%	$303K-99.6%	$76.9M
Dividends Paid	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

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Operating Cash Flow	-$22.3M+7.4%	-$24.1M-2.6%	-$23.5M-10.6%	-$21.2M-12.7%	-$18.8M-22.9%	-$15.3M-14.0%	-$13.4M-38.8%	-$9.7M
Capital Expenditures	$209K+18.8%	$176K+29.4%	$136K-85.0%	$906K-86.0%	$6.5M+34.9%	$4.8M+56.3%	$3.1M-57.1%	$7.2M
Free Cash Flow	-$22.5M+7.3%	-$24.3M-2.8%	-$23.6M-6.7%	-$22.1M+12.6%	-$25.3M-25.8%	-$20.1M-21.9%	-$16.5M+2.0%	-$16.9M
Investing Cash Flow	$16.8M+176.1%	-$22.1M-16164.7%	-$136K+85.0%	-$906K+86.0%	-$6.5M-34.9%	-$4.8M-56.3%	-$3.1M+57.1%	-$7.2M
Financing Cash Flow	-$150K-209.5%	$137K+80.3%	$76K+228.8%	-$59K-119.4%	$304K-99.3%	$42.2M-56.7%	$97.5M+26823.5%	$362K
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

ACET 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	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-53.2%+15.6pp	-68.8%-47.7pp	-21.1%-2.8pp	-18.3%+5.5pp	-23.8%+10.6pp	-34.5%
Current Ratio	9.29+0.9	8.41-4.8	13.25-4.1	17.31+12.8	4.46+0.1	4.32
Debt-to-Equity	0.18-0.0	0.22+0.1	0.13+0.0	0.12-0.3	0.40+2.8	-2.35
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	1.5%	N/A	N/A
Return on Assets	-19.1%-6.7pp	-12.4%	N/A	-21.4%	N/A	-6.2%	N/A	-5.5%
Current Ratio	5.62-3.7	9.29+0.9	8.41-1.0	9.40-3.8	13.25-3.3	16.59-0.7	17.31+7.4	9.94
Debt-to-Equity	0.29+0.1	0.18-0.0	0.22+0.0	0.20+0.1	0.13+0.0	0.120.0	0.12-0.1	0.18
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Adicet Bio Inc profitable?

No, Adicet Bio Inc (ACET) reported a net income of -$117.1M in fiscal year 2024.

What is Adicet Bio Inc's earnings per share (EPS)?

Adicet Bio Inc (ACET) reported diluted earnings per share of $-1.33 for fiscal year 2024. This represents a 59.8% 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 Adicet Bio Inc's EBITDA?

Adicet Bio Inc (ACET) had EBITDA of -$121.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Adicet Bio Inc's free cash flow?

Adicet Bio Inc (ACET) generated -$93.5M in free cash flow during fiscal year 2024. This represents a 4.8% 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 Adicet Bio Inc's operating cash flow?

Adicet Bio Inc (ACET) generated -$92.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Adicet Bio Inc's total assets?

Adicet Bio Inc (ACET) had $220.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Adicet Bio Inc's capital expenditures?

Adicet Bio Inc (ACET) invested $1.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Adicet Bio Inc spend on research and development?

Adicet Bio Inc (ACET) invested $99.3M in research and development during fiscal year 2024.

How many shares does Adicet Bio Inc have outstanding?

Adicet Bio Inc (ACET) had 83M shares outstanding as of fiscal year 2024.

What is Adicet Bio Inc's current ratio?

Adicet Bio Inc (ACET) had a current ratio of 9.29 as of fiscal year 2024, which is generally considered healthy.

What is Adicet Bio Inc's debt-to-equity ratio?

Adicet Bio Inc (ACET) had a debt-to-equity ratio of 0.18 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Adicet Bio Inc's return on assets (ROA)?

Adicet Bio Inc (ACET) had a return on assets of -53.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Adicet Bio Inc's cash runway?

Based on fiscal year 2024 data, Adicet Bio Inc (ACET) had $56.5M in cash against an annual operating cash burn of $92.4M. This gives an estimated cash runway of approximately 7 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 Adicet Bio Inc's Piotroski F-Score?

Adicet Bio Inc (ACET) has a Piotroski F-Score of 3 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 Adicet Bio Inc's earnings high quality?

Adicet Bio Inc (ACET) has an earnings quality ratio of 0.79x, 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.

Can Adicet Bio Inc cover its interest payments?

Adicet Bio Inc (ACET) has an interest coverage ratio of -31903.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.