Adverum Biotechnologies, Inc. (ADVM) Financials
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 12, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ADVM SEC filings page.
Adverum Biotechnologies, Inc. (ADVM) reported $1.0M in revenue for fiscal year 2024, down 72.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Adverum remains a development-stage biotech where research spending vastly exceeds revenue, while financing supplies the balance sheet’s operating fuel.
In FY2024, operating cash flow and free cash flow nearly matched at-$92.5M and-$92.9M , respectively, revealing a cash shortfall driven mainly by operations rather than reinvestment. Revenue fell from$3.6M in FY2023 to$1.0M while research and development remained$77.0M , showing that reported revenue is not yet funding the development effort.
External financing of
With development spending dominating the income statement, R&D was roughly seventy-seven times FY2024 revenue, a structure typical of a business still investing ahead of commercial scale. The liquidity measure equaled 16.3 months of reported outflow, which is a balance-to-past-outflow comparison rather than evidence that losses are self-funded.
Financial Health Signals
Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Adverum Biotechnologies, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Adverum Biotechnologies, Inc. held $125.7M in cash, cash equivalents and investments at the end of fiscal year 2024, and its operations used $92.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Adverum Biotechnologies, Inc. scores 40/100 among other emerging companies.
Adverum Biotechnologies, Inc. had 21M shares outstanding at the end of fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Adverum Biotechnologies, Inc. scores 88/100 among other emerging companies.
Adverum Biotechnologies, Inc. spent $77.0M on research and development in fiscal year 2024, which was 55.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Adverum Biotechnologies, Inc. scores 80/100 among other emerging companies.
Adverum Biotechnologies, Inc. reported revenue of $1.0M in fiscal year 2024, against $3.6M in fiscal year 2023. Revenue Progress ranks emerging companies on the three-year path of that line, and Adverum Biotechnologies, Inc. scores 1/100 among other emerging companies.
Adverum Biotechnologies, Inc.'s operations used $92.5M of cash in fiscal year 2024, against $90.9M used in fiscal year 2023. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Adverum Biotechnologies, Inc. scores 53/100 among other emerging companies.
Adverum Biotechnologies, Inc.'s cash, cash equivalents and investments came to $125.7M at the end of fiscal year 2024, against $109.1M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Adverum Biotechnologies, Inc. scores 62/100 among other emerging companies.
Adverum Biotechnologies, Inc. scores -9.63, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($91.5M) relative to total liabilities ($109.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Adverum Biotechnologies, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Adverum Biotechnologies, Inc. reported a net loss of $130.9M while operations used $92.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Adverum Biotechnologies, Inc. generated $0 in revenue in Q3 2025. This represents a decrease of 100.0% from the same quarter a year earlier.
Adverum Biotechnologies, Inc.'s EBITDA was -$47.6M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 41.8% from the same quarter a year earlier. Against the prior quarter it is up 3.6%.
Adverum Biotechnologies, Inc. reported -$47.7M in net income in Q3 2025. This represents a decrease of 47.3% from the same quarter a year earlier. Against the prior quarter it is up 3.1%.
Adverum Biotechnologies, Inc. earned -$2.03 per diluted share (EPS) in Q3 2025. This represents a decrease of 31.0% from the same quarter a year earlier. Against the prior quarter it is up 13.2%.
Cash & Balance Sheet
Adverum Biotechnologies, Inc. recorded an outflow of $28.3M in free cash flow in Q3 2025, representing a cash shortfall after capex. This represents a decrease of 32.4% from the same quarter a year earlier. Against the prior quarter it is up 27.3%.
Adverum Biotechnologies, Inc. held $26.1M in cash as of Q3 2025; long-term debt is not reported for that period.
Not reported for Q3 2025.
Margins & Returns
None of these metrics is reported for Q3 2025.
Capital Allocation
Adverum Biotechnologies, Inc. invested $38.9M in research and development in Q3 2025. This represents an increase of 90.4% from the same quarter a year earlier. Against the prior quarter it is up 4.8%.
Adverum Biotechnologies, Inc. invested $142K in capex in Q3 2025, funding long-term assets and infrastructure. This represents a decrease of 35.7% from the same quarter a year earlier. Against the prior quarter it is up 18.3%.
Not reported for Q3 2025.
ADVM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0-100.0% | N/A | N/A | N/A | $1.0M | $0 | $0-100.0% | N/A |
| R&D Expenses | $38.9M+90.4% | $37.1M+117.1% | $28.7M+86.5% | N/A | $20.4M-1.5% | $17.1M-17.0% | $15.4M-26.2% | N/A |
| SG&A Expenses | $9.1M-39.3% | $12.7M-19.5% | $19.5M+41.2% | N/A | $15.0M+4.7% | $15.8M+17.3% | $13.8M-11.5% | N/A |
| Operating Income | -$48.0M-39.4% | -$49.9M-51.5% | -$48.2M-65.1% | N/A | -$34.4M+1.8% | -$32.9M+3.5% | -$29.2M+11.1% | N/A |
| EBITDA | -$47.6M-41.8% | -$49.3M-54.4% | -$47.5M-68.6% | N/A | -$33.5M0.0% | -$31.9M+1.8% | -$28.2M+9.8% | N/A |
| Income Tax | N/A | N/A | N/A | N/A | $0-100.0% | $0-100.0% | $0-100.0% | N/A |
| Net Income | -$47.7M-47.3% | -$49.2M-61.3% | -$47.0M-73.2% | N/A | -$32.4M+3.2% | -$30.5M+6.2% | -$27.1M+14.3% | N/A |
| EPS (Basic) | -$2.03-31.0% | -$2.34-60.3% | -$2.25-36.4% | -$1.98+18.2% | -$1.55+53.2% | -$1.46+54.8% | -$1.65+47.8% | -$2.42-633.3% |
| EPS (Diluted) | -$2.03-31.0% | -$2.34-60.3% | -$2.25-36.4% | -$1.98 | -$1.55 | -$1.46 | -$1.65 | -$2.42 |
| Diluted Shares (Avg) | 23M+12.5% | 21M+0.8% | 21M+27.1% | N/A | 21M | 21M | 16M | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
ADVM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $72.4M-65.6% | $96.2M-58.1% | $137.7M-45.1% | $179.8M+15.5% | $210.2M+17.1% | $229.6M+2.3% | $250.5M-0.8% | $155.8M-49.5% |
| Current Assets | $28.9M-82.1% | $48.4M-73.0% | $89.5M-55.1% | $131.3M+27.8% | $161.1M+29.3% | $179.4M+21.9% | $199.1M+17.9% | $102.8M-46.1% |
| Cash & Equivalents | $26.1M-71.9% | $42.4M-66.7% | $49.2M-67.1% | $60.7M-19.1% | $92.9M-11.9% | $127.3M+14.5% | $149.6M+121.5% | $75.0M+9.6% |
| Short-Term Investments | $0-100.0% | $2.0M-95.7% | $33.9M-22.4% | $65.0M+202.1% | $60.4M+415.4% | $46.5M+53.7% | $43.7M-54.8% | $21.5M-81.6% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $128.1M+25.6% | $116.4M+26.2% | $111.2M+28.1% | $109.1M+23.2% | $102.0M+10.4% | $92.2M-14.7% | $86.9M-20.2% | $88.5M-30.2% |
| Current Liabilities | $44.7M+97.9% | $31.4M+79.6% | $25.1M+51.4% | $22.9M+14.6% | $22.6M-5.6% | $17.5M-56.0% | $16.6M-59.5% | $20.0M-38.0% |
| Non-Current Liabilities | $83.3M+5.0% | $85.0M+13.8% | $86.1M+22.6% | $86.2M+25.8% | $79.4M+16.0% | $74.7M+9.1% | $70.3M+3.5% | $68.6M-27.5% |
| Total Equity | -$55.7M-151.4% | -$20.2M-114.7% | $26.4M-83.9% | $70.7M+5.2% | $108.3M+24.1% | $137.4M+18.2% | $163.7M+13.8% | $67.2M-60.5% |
| Retained Earnings | -$1.2B-18.0% | -$1.2B-17.1% | -$1.1B-15.7% | -$1.1B-14.0% | -$1.0B-12.6% | -$993.7M-13.2% | -$963.2M-13.9% | -$936.0M-16.6% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
ADVM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$28.1M-33.1% | -$38.8M-95.4% | -$42.8M-84.0% | -$28.2M-32.5% | -$21.1M+11.7% | -$19.8M+14.6% | -$23.2M-3.7% | -$21.3M-15.4% |
| Depreciation & Amortization | $465K-47.8% | $535K-44.0% | $683K-31.5% | $810K-19.7% | $890K-41.0% | $956K-37.7% | $997K-37.4% | $1.0M-41.1% |
| Stock-Based Compensation | $2.3M-20.7% | $2.4M-38.6% | $2.8M-33.3% | N/A | $3.0M-32.5% | $3.9M-11.7% | $4.2M-8.7% | N/A |
| Capital Expenditures | $142K-35.7% | $120K+650.0% | $220K+144.4% | $61K-68.2% | $221K-55.4% | $16K-55.6% | $90K+5.9% | $192K+3.8% |
| Free Cash Flow | -$28.3M-32.4% | -$38.9M-95.8% | -$43.0M-84.2% | -$28.3M-31.6% | -$21.3M+12.5% | -$19.9M+14.7% | -$23.3M-3.7% | -$21.5M-15.3% |
| Investing Cash Flow | $1.9M+113.9% | $31.9M+1471.0% | $31.3M+242.0% | -$4.2M+57.6% | -$13.3M-173.3% | -$2.3M-103.5% | -$22.0M-202.3% | -$9.9M-542.2% |
| Financing Cash Flow | $9.9M | $120K+203.4% | $0-100.0% | $239K+44.0% | $0+100.0% | -$116K-1550.0% | $119.9M | $166K-31.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ADVM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | -3443.8% | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | -3235.1% | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | -178.0%-161.4pp | N/A | -29.9%+8.4pp | -22.2%+5.8pp | -16.6%+5.4pp | N/A |
| Return on Assets | -65.8%-50.4pp | -51.1%-37.9pp | -34.2%-23.3pp | N/A | -15.4%+3.2pp | -13.3%+1.2pp | -10.8%+1.7pp | N/A |
| Current Ratio | 0.65-6.5x | 1.54-8.7x | 3.57-8.4x | 5.73+0.6x | 7.12+1.9x | 10.28+6.6x | 12.01+7.9x | 5.14-0.8x |
| Debt-to-Equity | N/A | N/A | 4.21+3.7x | 1.54+0.2x | 0.94-0.1x | 0.67-0.3x | 0.53-0.2x | 1.32+0.6x |
| Asset Turnover | 0.000.0x | N/A | N/A | N/A | 0.000.0x | 0.000.0x | 0.000.0x | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | -2134.5% | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Adverum Biotechnologies, Inc. ADVM | FY2024 | $1.0M | -$130.9M | N/A | $91.5M | 54/100 |
| Vivani Medical, Inc. VANI | FY2025 | $0 | $26.6M | N/A | $110.0M | — |
| MiNK Therapeutics, Inc. INKT | FY2025 | N/A | -$12.5M | N/A | $59.1M | — |
| Applied Therapeutics, Inc. APLT | FY2024 | $455K | -$105.6M | N/A | $14.9M | — |
| Immix Biopharma, Inc. IMMX | FY2025 | N/A | -$29.4M | N/A | $852.7M | — |
| Fractyl Health, Inc. GUTS | FY2025 | $0 | -$141.0M | N/A | $89.9M | — |
Where Adverum Biotechnologies, Inc. Ranks
Frequently Asked Questions
What is Adverum Biotechnologies, Inc.'s annual revenue?
Adverum Biotechnologies, Inc. (ADVM) reported $1.0M in total revenue for fiscal year 2024. This represents a -72.2% 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 Adverum Biotechnologies, Inc.'s revenue growing?
Adverum Biotechnologies, Inc. (ADVM) revenue declined by 72.2% year-over-year, from $3.6M to $1.0M in fiscal year 2024.
Is Adverum Biotechnologies, Inc. profitable?
No, Adverum Biotechnologies, Inc. (ADVM) reported a net income of -$130.9M in fiscal year 2024.
What is Adverum Biotechnologies, Inc.'s EBITDA?
Adverum Biotechnologies, Inc. (ADVM) had EBITDA of -$135.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Adverum Biotechnologies, Inc.'s return on equity (ROE)?
Adverum Biotechnologies, Inc. (ADVM) has a return on equity of -185.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Adverum Biotechnologies, Inc.'s free cash flow?
Adverum Biotechnologies, Inc. (ADVM) recorded an outflow of $92.8M in free cash flow during fiscal year 2024. This represents a -1.2% 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 Adverum Biotechnologies, Inc.'s operating cash flow?
Adverum Biotechnologies, Inc. (ADVM) recorded an outflow of $92.5M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Adverum Biotechnologies, Inc.'s total assets?
Adverum Biotechnologies, Inc. (ADVM) had $179.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Adverum Biotechnologies, Inc.'s capital expenditures?
Adverum Biotechnologies, Inc. (ADVM) invested $388K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Adverum Biotechnologies, Inc. spend on research and development?
Adverum Biotechnologies, Inc. (ADVM) invested $77.0M in research and development during fiscal year 2024.
What is Adverum Biotechnologies, Inc.'s current ratio?
Adverum Biotechnologies, Inc. (ADVM) had a current ratio of 5.73 as of fiscal year 2024, which is generally considered healthy.
What is Adverum Biotechnologies, Inc.'s debt-to-equity ratio?
Adverum Biotechnologies, Inc. (ADVM) had a debt-to-equity ratio of 1.54 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Adverum Biotechnologies, Inc.'s return on assets (ROA)?
Adverum Biotechnologies, Inc. (ADVM) had a return on assets of -72.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does Adverum Biotechnologies, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, Adverum Biotechnologies, Inc. (ADVM) held $125.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $92.5M over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Adverum Biotechnologies, Inc.'s Altman Z-Score?
Adverum Biotechnologies, Inc. (ADVM) has an Altman Z-Score of -9.63, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Adverum Biotechnologies, Inc.'s Piotroski F-Score?
Adverum Biotechnologies, Inc. (ADVM) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Adverum Biotechnologies, Inc.'s earnings high quality?
Adverum Biotechnologies, Inc. (ADVM) reported a net loss of $130.9M while operations used $92.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Adverum Biotechnologies, Inc.?
Adverum Biotechnologies, Inc. (ADVM) scores 54 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.