Adlai Nortye Ltd. Financials
Adlai Nortye Ltd. (ANL) reported $5.0M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Adlai Nortye’s visible mechanic is external financing buying time while an asset-light operating structure still consumes roughly $50M a year.
By FY2025, cash of$60.9M still exceeded total liabilities of$45.8M , so the immediate constraint looks more like burn rate than leverage. That is the non-obvious tension: FY2023’s financing inflow of$116.2M repaired liquidity after FY2022’s 0.2x current ratio, but operating cash flow stayed deeply negative afterward, meaning the balance sheet was repaired externally rather than by a self-funding business.
The loss-to-cash relationship is tight rather than cosmetic: FY2024 net loss of
This is also a low-capex but high-burn structure: FY2024 capital spending was only
Financial Health Signals
Scored against emerging companies for FY2025. 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 Adlai Nortye Ltd.'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.
Not available for Adlai Nortye Ltd., and counted as zero in the overall score.
Not available for Adlai Nortye Ltd., and counted as zero in the overall score.
Adlai Nortye Ltd. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Adlai Nortye Ltd. reported a net loss of $109.2M while operations used $56.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Adlai Nortye Ltd. generated $5.0M in revenue in fiscal year 2025.
Adlai Nortye Ltd. reported -$109.2M in net income in fiscal year 2025. This represents a decrease of 110.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Adlai Nortye Ltd. recorded an outflow of $56.9M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 9.4% from the prior year.
Adlai Nortye Ltd. held $60.9M in cash against $425K in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Adlai Nortye Ltd.'s ROE was -428.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 225.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Adlai Nortye Ltd. invested $200K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 17.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
ANL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Revenue | $5.0M | N/A | $5.0M | N/A | $45.7M |
| Interest Expense | $50K0.0% | $50K-39.8% | $83K-37.6% | $133K-15.8% | $158K |
| Income Tax | N/A | N/A | $643K | N/A | N/A |
| Net Income | -$109.2M-110.6% | -$51.9M+52.5% | -$109.2M-85.8% | -$58.8M-3.7% | -$56.7M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
ANL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Assets | $71.3M0.0% | $71.3M-45.3% | $130.2M+79.3% | $72.6M | N/A |
| Current Assets | $64.1M0.0% | $64.1M-36.7% | $101.2M+52.6% | $66.3M | N/A |
| Cash & Equivalents | $60.9M0.0% | $60.9M-33.4% | $91.5M+114.0% | $42.8M-33.3% | $64.1M |
| Total Liabilities | $45.8M0.0% | $45.8M-17.0% | $55.1M-82.4% | $313.9M | N/A |
| Current Liabilities | $45.4M0.0% | $45.4M-8.7% | $49.7M-84.1% | $312.7M | N/A |
| Long-Term Debt | $425K0.0% | $425K-9.4% | $469K-62.1% | $1.2M-88.2% | $10.5M |
| Total Equity | $25.5M0.0% | $25.5M-66.0% | $75.0M+131.1% | -$241.3M-30.1% | -$185.4M |
| Retained Earnings | -$429.3M0.0% | -$429.3M-13.7% | -$377.4M-40.7% | -$268.2M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
ANL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$56.7M-9.3% | -$51.8M+8.5% | -$56.7M-31.1% | -$43.2M-1324.6% | -$3.0M |
| Capital Expenditures | $200K+17.6% | $170K-15.0% | $200K-84.0% | $1.2M+22.7% | $1.0M |
| Free Cash Flow | -$56.9M-9.4% | -$52.0M+8.6% | -$56.9M-27.8% | -$44.5M-997.5% | -$4.1M |
| Investing Cash Flow | -$11.0M-139.0% | $28.1M+356.2% | -$11.0M-138.6% | $28.4M+151.7% | -$54.9M |
| Financing Cash Flow | $116.2M+1866.8% | -$6.6M-105.7% | $116.2M+1814.5% | -$6.8M-107.0% | $97.2M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ANL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Net Margin | -2184.6% | N/A | -2184.6% | N/A | -124.0% |
| Return on Equity | -428.6%-225.1pp | -203.5%-58.0pp | -145.6% | N/A | N/A |
| Return on Assets | -153.3%-80.5pp | -72.8%+11.1pp | -83.9%-2.9pp | -81.0% | N/A |
| Current Ratio | 1.410.0x | 1.41-0.6x | 2.04+1.8x | 0.21 | N/A |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.01 | N/A | N/A |
| FCF Margin | -1137.0% | N/A | -1137.0% | N/A | -8.9% |
Not reported in any period shown, so not listed: Gross Margin, Operating 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: Net Margin, FCF Margin.
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Where Adlai Nortye Ltd. Ranks
Frequently Asked Questions
What is Adlai Nortye Ltd.'s annual revenue?
Adlai Nortye Ltd. (ANL) reported $5.0M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Adlai Nortye Ltd. profitable?
No, Adlai Nortye Ltd. (ANL) reported a net income of -$109.2M in fiscal year 2025.
How much debt does Adlai Nortye Ltd. have?
As of fiscal year 2025, Adlai Nortye Ltd. (ANL) had $60.9M in cash and equivalents against $425K in long-term debt.
What is Adlai Nortye Ltd.'s return on equity (ROE)?
Adlai Nortye Ltd. (ANL) has a return on equity of -428.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Adlai Nortye Ltd.'s free cash flow?
Adlai Nortye Ltd. (ANL) recorded an outflow of $56.9M in free cash flow during fiscal year 2025. This represents a -9.4% 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 Adlai Nortye Ltd.'s operating cash flow?
Adlai Nortye Ltd. (ANL) recorded an outflow of $56.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Adlai Nortye Ltd.'s total assets?
Adlai Nortye Ltd. (ANL) had $71.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Adlai Nortye Ltd.'s capital expenditures?
Adlai Nortye Ltd. (ANL) invested $200K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Adlai Nortye Ltd.'s current ratio?
Adlai Nortye Ltd. (ANL) had a current ratio of 1.41 as of fiscal year 2025, which is considered adequate.
What is Adlai Nortye Ltd.'s debt-to-equity ratio?
Adlai Nortye Ltd. (ANL) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Adlai Nortye Ltd.'s return on assets (ROA)?
Adlai Nortye Ltd. (ANL) had a return on assets of -153.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Adlai Nortye Ltd.'s cash runway?
Based on fiscal year 2025 data, Adlai Nortye Ltd. (ANL) had $60.9M in cash against an annual operating cash burn of $56.7M. This gives an estimated cash runway of approximately 13 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 Adlai Nortye Ltd.'s Piotroski F-Score?
Adlai Nortye Ltd. (ANL) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Adlai Nortye Ltd.'s earnings high quality?
Adlai Nortye Ltd. (ANL) reported a net loss of $109.2M while operations used $56.7M 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 Adlai Nortye Ltd.?
Adlai Nortye Ltd. (ANL) scores 22 out of 100 on our Financial Health Score, indicating weak 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.