Adverum Biotech Financials
This page shows Adverum Biotech (ADVM) financial statements, including the 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 still operates as a cash-funded development program, with external financing sustaining a cost base far larger than revenue.
In FY2024, operating cash burn of-$92.5M was almost identical to free cash burn of-$92.9M , so cash use is coming from ongoing research and overhead rather than heavy equipment or facilities. That pattern barely changed from FY2023, which means the business is still defined by funding a program, not yet by selling a product.
With just
The year-end cash balance of
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 Biotech'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 Biotech scores -9.60, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($96.3M) 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 Biotech passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Adverum Biotech generates $0.71 in operating cash flow (-$92.5M OCF vs -$130.9M 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
Earnings & Revenue
Adverum Biotech generated $1.0M in revenue in fiscal year 2024. This represents a decrease of 72.2% from the prior year.
Adverum Biotech's EBITDA was -$135.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.9% from the prior year.
Adverum Biotech reported -$130.9M in net income in fiscal year 2024. This represents a decrease of 7.2% from the prior year.
Adverum Biotech earned $-6.62 per diluted share (EPS) in fiscal year 2024. This represents an increase of 45.3% from the prior year.
Cash & Balance Sheet
Adverum Biotech generated -$92.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 1.2% from the prior year.
Adverum Biotech held $60.7M in cash against $0 in long-term debt as of fiscal year 2024.
Adverum Biotech had 21M shares outstanding in fiscal year 2024. This represents an increase of 105.5% from the prior year.
Margins & Returns
Adverum Biotech's operating margin was -13915.9% in fiscal year 2024, reflecting core business profitability. This is down 10334.2 percentage points from the prior year.
Adverum Biotech's net profit margin was -13092.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9700.6 percentage points from the prior year.
Adverum Biotech's ROE was -185.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the prior year.
Capital Allocation
Adverum Biotech invested $77.0M in research and development in fiscal year 2024. This represents a decrease of 0.6% from the prior year.
Adverum Biotech invested $388K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 52.0% from the prior year.
ADVM Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | N/A | N/A | N/A | $1.0M | $0 | $0 | 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 | $38.9M+4.8% | $37.1M+29.1% | $28.7M | N/A | $20.4M+19.5% | $17.1M+10.9% | $15.4M | N/A |
| SG&A Expenses | $9.1M-28.4% | $12.7M-34.6% | $19.5M | N/A | $15.0M-5.1% | $15.8M+14.6% | $13.8M | N/A |
| Operating Income | -$48.0M+3.7% | -$49.9M-3.4% | -$48.2M | N/A | -$34.4M-4.7% | -$32.9M-12.7% | -$29.2M | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | $0 | $0 | $0 | N/A |
| Net Income | -$47.7M+3.1% | -$49.2M-4.6% | -$47.0M | N/A | -$32.4M-6.1% | -$30.5M-12.3% | -$27.1M | N/A |
| EPS (Diluted) | $-2.03+13.2% | $-2.34-4.0% | $-2.25 | N/A | $-1.55-6.2% | $-1.46 | $-1.65 | N/A |
ADVM Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $72.4M-24.7% | $96.2M-30.1% | $137.7M-23.5% | $179.8M-14.5% | $210.2M-8.4% | $229.6M-8.4% | $250.5M+60.8% | $155.8M |
| Current Assets | $28.9M-40.3% | $48.4M-45.9% | $89.5M-31.9% | $131.3M-18.5% | $161.1M-10.2% | $179.4M-9.9% | $199.1M+93.8% | $102.8M |
| Cash & Equivalents | $26.1M-38.6% | $42.4M-13.7% | $49.2M-18.9% | $60.7M-34.7% | $92.9M-27.1% | $127.3M-14.9% | $149.6M+99.5% | $75.0M |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $128.1M+10.0% | $116.4M+4.6% | $111.2M+1.9% | $109.1M+7.0% | $102.0M+10.6% | $92.2M+6.1% | $86.9M-1.9% | $88.5M |
| Current Liabilities | $44.7M+42.7% | $31.4M+25.0% | $25.1M+9.6% | $22.9M+1.3% | $22.6M+29.6% | $17.5M+5.3% | $16.6M-17.0% | $20.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$55.7M-175.3% | -$20.2M-176.5% | $26.4M-62.6% | $70.7M-34.7% | $108.3M-21.2% | $137.4M-16.1% | $163.7M+143.5% | $67.2M |
| Retained Earnings | -$1.2B-4.1% | -$1.2B-4.4% | -$1.1B-4.4% | -$1.1B-4.0% | -$1.0B-3.3% | -$993.7M-3.2% | -$963.2M-2.9% | -$936.0M |
ADVM Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$28.1M+27.5% | -$38.8M+9.4% | -$42.8M-51.4% | -$28.2M-33.7% | -$21.1M-6.5% | -$19.8M+14.6% | -$23.2M-9.0% | -$21.3M |
| Capital Expenditures | $142K+18.3% | $120K-45.5% | $220K+260.7% | $61K-72.4% | $221K+1281.3% | $16K-82.2% | $90K-53.1% | $192K |
| Free Cash Flow | -$28.3M+27.3% | -$38.9M+9.5% | -$43.0M-51.9% | -$28.3M-32.6% | -$21.3M-7.5% | -$19.9M+14.9% | -$23.3M-8.4% | -$21.5M |
| Investing Cash Flow | $1.9M-94.2% | $31.9M+2.0% | $31.3M+846.7% | -$4.2M+68.6% | -$13.3M-473.5% | -$2.3M+89.4% | -$22.0M-123.0% | -$9.9M |
| Financing Cash Flow | $9.9M+8149.2% | $120K | $0-100.0% | $239K | $0+100.0% | -$116K-100.1% | $119.9M+72116.9% | $166K |
| 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 |
ADVM Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | -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% | N/A | -29.9%-7.7pp | -22.2%-5.6pp | -16.6% | N/A |
| Return on Assets | -65.8%-14.7pp | -51.1%-17.0pp | -34.2% | N/A | -15.4%-2.1pp | -13.3%-2.4pp | -10.8% | N/A |
| Current Ratio | 0.65-0.9 | 1.54-2.0 | 3.57-2.2 | 5.73-1.4 | 7.12-3.2 | 10.28-1.7 | 12.01+6.9 | 5.14 |
| Debt-to-Equity | N/A | N/A | 4.21+2.7 | 1.54+0.6 | 0.94+0.3 | 0.67+0.1 | 0.53-0.8 | 1.32 |
| FCF Margin | N/A | N/A | N/A | N/A | -2134.5% | N/A | N/A | N/A |
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Frequently Asked Questions
What is Adverum Biotech's annual revenue?
Adverum Biotech (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 Biotech's revenue growing?
Adverum Biotech (ADVM) revenue declined by 72.2% year-over-year, from $3.6M to $1.0M in fiscal year 2024.
Is Adverum Biotech profitable?
No, Adverum Biotech (ADVM) reported a net income of -$130.9M in fiscal year 2024, with a net profit margin of -13092.7%.
What is Adverum Biotech's EBITDA?
Adverum Biotech (ADVM) had EBITDA of -$135.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Adverum Biotech's operating margin?
Adverum Biotech (ADVM) had an operating margin of -13915.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Adverum Biotech's net profit margin?
Adverum Biotech (ADVM) had a net profit margin of -13092.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Adverum Biotech's return on equity (ROE)?
Adverum Biotech (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 Biotech's free cash flow?
Adverum Biotech (ADVM) generated -$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 Biotech's operating cash flow?
Adverum Biotech (ADVM) generated -$92.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Adverum Biotech's total assets?
Adverum Biotech (ADVM) had $179.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Adverum Biotech's capital expenditures?
Adverum Biotech (ADVM) invested $388K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Adverum Biotech spend on research and development?
Adverum Biotech (ADVM) invested $77.0M in research and development during fiscal year 2024.
What is Adverum Biotech's current ratio?
Adverum Biotech (ADVM) had a current ratio of 5.73 as of fiscal year 2024, which is generally considered healthy.
What is Adverum Biotech's debt-to-equity ratio?
Adverum Biotech (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 Biotech's return on assets (ROA)?
Adverum Biotech (ADVM) had a return on assets of -72.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Adverum Biotech's cash runway?
Based on fiscal year 2024 data, Adverum Biotech (ADVM) had $60.7M in cash against an annual operating cash burn of $92.5M. This gives an estimated cash runway of approximately 8 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 Adverum Biotech's Altman Z-Score?
Adverum Biotech (ADVM) has an Altman Z-Score of -9.60, 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 Biotech's Piotroski F-Score?
Adverum Biotech (ADVM) has a Piotroski F-Score of 3 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 Biotech's earnings high quality?
Adverum Biotech (ADVM) has an earnings quality ratio of 0.71x, 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 Adverum Biotech?
Adverum Biotech (ADVM) scores 53 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.