The company remains in a pre-commercial phase with zero revenue and an escalating R&D burn that reached $38.9M in 2025Q3.
Adverum Biotechnologies, Inc. (ADVM) annual income statement — 13-year revenue, gross profit & net income history
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 0 | 1M | 3.6M | 0 | 7.5M | 0 | 250K | 1.61M | 1.85M | 1.46M | 2.32M | 572K | 480K | 30K |
| Revenue Growth % | -100% | -72.22% | - | -100% | - | -100% | -84.49% | -12.82% | 27.08% | -37.26% | 305.42% | 19.17% | 1500% | - |
| Cost of Goods Sold | 465K | 0 | 0 | 0 | 0 | 4.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -465K | 1M | 3.6M | 0 | 7.5M | -4.16M | 0 | 0 | 0 | 0 | 2.32M | 572K | 480K | 30K |
| Gross Margin % | - | 100% | 100% | - | 100% | - | - | - | - | - | 100% | 100% | 100% | 100% |
| Gross Profit Growth % | - | -72.22% | - | -100% | 280.38% | - | - | - | - | -100% | 305.42% | 19.17% | 1500% | - |
| Operating Expenses | 206.85M | 140.16M | 132.54M | 157.13M | 153.62M | 113.79M | 68.8M | 79.69M | 60.7M | 116.74M | 50.14M | 24.97M | 3.45M | 1.82M |
| OpEx % of Revenue | - | 14015.9% | 3681.72% | - | 2048.29% | - | 27518% | 4943.73% | 3282.64% | 8023.3% | 2162.23% | 4366.08% | 719.58% | 6053.33% |
| Selling, General & Admin | 79.44M | 63.12M | 55.06M | 57.86M | 64.44M | 44.64M | 28.38M | 24.56M | 20.86M | 24.36M | 22.11M | 8M | 1.78M | 536K |
| SG&A % of Revenue | - | 6311.8% | 1529.33% | - | 859.21% | - | 11350.4% | 1523.57% | 1128.02% | 1673.88% | 953.3% | 1398.25% | 371.46% | 1786.67% |
| Research & Development | 128.88M | 77.04M | 77.49M | 99.28M | 89.18M | 73.31M | 40.42M | 50.13M | 39.84M | 31.67M | 25.46M | 16.98M | 2.15M | 1.31M |
| R&D % of Revenue | - | 7704.1% | 2152.39% | - | 1189.08% | - | 16167.6% | 3109.99% | 2154.62% | 2176.63% | 1097.97% | 2967.83% | 448.13% | 4366.67% |
| Other Operating Expenses | -1000K | 0 | 0 | 0 | 0 | -4.16M | 0 | 5M | 0 | 60.71M | 2.57M | 0 | -96K | -6K |
| Operating Income | -207.32M | -139.16M | -128.94M | -157.13M | -146.12M | -117.95M | -68.55M | -78.08M | -58.85M | -115.28M | -47.82M | -24.4M | -3.45M | -1.82M |
| Operating Margin % | - | -13915.9% | -3581.72% | - | -1948.29% | - | -27418% | -4843.73% | -3182.64% | -7923.3% | -2062.23% | -4266.08% | -719.58% | -6053.33% |
| Operating Income Growth % | - | -7.92% | 17.94% | -7.54% | -23.88% | -72.08% | 12.21% | -32.68% | 48.95% | -141.06% | -95.98% | -606.49% | -90.2% | - |
| EBITDA | -204.82M | -135.51M | -123.3M | -150.61M | -141.48M | -113.79M | -66.97M | -76.33M | -56.75M | -113.68M | -47.01M | -24.24M | -3.43M | -1.81M |
| EBITDA Margin % | - | -13550.6% | -3424.94% | - | -1886.36% | - | -26788.8% | -4735.17% | -3069.28% | -7813.13% | -2027.21% | -4237.76% | -714.17% | -6050% |
| EBITDA Growth % | -80.25% | -9.9% | 18.13% | -6.45% | -24.33% | -69.91% | 12.26% | -34.5% | 50.08% | -141.82% | -93.94% | -607.12% | -88.87% | - |
| D&A (Non-Cash Add-back) | 2.49M | 3.65M | 5.64M | 6.53M | 4.64M | 4.16M | 1.57M | 1.75M | 2.1M | 1.6M | 812K | 162K | 26K | 1K |
| EBIT | -207.94M | -139.16M | -128.94M | -157.13M | -146.12M | -116.39M | -68.55M | -73.08M | -58.85M | -54.57M | -45.25M | -25.39M | -5.2M | -1.8M |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -18K | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18K | 73K | 8K |
| Other Income/Expense | 2.92M | 8.23M | 5.75M | 2.67M | 582K | 1.56M | 4.06M | 4.2M | 2.7M | 762K | 370K | -1M | -1.82M | 5K |
| Pretax Income | -204.39M | -130.93M | -123.19M | -154.46M | -145.54M | -116.39M | -64.49M | -73.88M | -56.15M | -114.52M | -47.45M | -25.4M | -5.28M | -1.81M |
| Pretax Margin % | - | -13092.7% | -3422.06% | - | -1940.53% | - | -25794.4% | -4582.94% | -3036.61% | -7870.93% | -2046.27% | -4441.26% | -1099.17% | -6036.67% |
| Income Tax | 0 | 0 | -1.08M | 74K | 0 | 1.11M | 0 | -1.25M | 0 | -775K | 0 | 0 | -23K | 2K |
| Effective Tax Rate % | 0% | 0% | 0.88% | -0.05% | 0% | -0.96% | 0% | 1.69% | 0% | 0.68% | 0% | 0% | 0.44% | -0.11% |
| Net Income | -204.39M | -130.93M | -122.12M | -154.54M | -145.54M | -117.51M | -64.49M | -72.63M | -56.15M | -113.75M | -47.45M | -25.4M | -5.28M | -1.81M |
| Net Margin % | - | -13092.7% | -3392.11% | - | -1940.53% | - | -25794.4% | -4505.4% | -3036.61% | -7817.66% | -2046.27% | -4441.26% | -1099.17% | -6036.67% |
| Net Income Growth % | -88.39% | -7.22% | 20.98% | -6.18% | -23.86% | -82.22% | 11.21% | -29.35% | 50.64% | -139.7% | -86.79% | -381.5% | -191.33% | - |
| Net Income (Continuing) | -204.39M | -130.93M | -122.12M | -154.54M | -145.54M | -117.51M | -64.49M | -72.63M | -56.15M | -113.75M | -47.45M | -25.4M | -5.28M | -1.81M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -8.70 | -6.62 | -2.02 | -2.67 | -1.48 | -1.26 | -0.87 | -1.18 | -1.29 | -3.14 | -1.84 | -1.12 | -0.25 | -0.09 |
| EPS Growth % | -109.27% | -227.72% | 24.34% | -80.41% | -17.46% | -44.83% | 26.27% | 8.53% | 58.92% | -70.65% | -64.29% | -348% | -186.7% | - |
| EPS (Basic) | - | -6.62 | -2.02 | -2.67 | -1.48 | -1.26 | -0.87 | -1.18 | -1.29 | -3.14 | -1.86 | -1.12 | -0.25 | -0.09 |
| Diluted Shares Outstanding | 23.49M | 19.78M | 57.98M | 57.98M | 98.36M | 93.31M | 73.8M | 61.38M | 43.66M | 36.25M | 25.86M | 22.75M | 20.78M | 20.78M |
| Basic Shares Outstanding | 23.49M | 19.78M | 57.98M | 57.98M | 98.36M | 93.23M | 73.8M | 61.38M | 43.66M | 36.25M | 25.48M | 22.75M | 20.78M | 20.78M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ADVM stock.
For fiscal year 2024, Adverum Biotechnologies, Inc. (ADVM) reported total revenue of $1.0M. This represents a 3233.3% increase compared to $0.0M in 2012.
Adverum Biotechnologies, Inc. (ADVM) reported a net loss of $130.9M for the fiscal year ending 2024.
Adverum Biotechnologies, Inc. (ADVM) reported an operating income of $-139.2M, resulting in an operating profit margin of -13915.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Adverum Biotechnologies, Inc. (ADVM) generated $1.0M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Clinical trial funding insolvency
Revenue Absence Reflects Clinical Focus
As reported in financial statements, Adverum Biotechnologies currently lacks a recurring revenue stream, with the most recent quarterly data showing a complete absence of top-line growth, underscoring the company's status as a pre-commercial entity reliant on sporadic milestone payments rather than sustainable product-based sales or market-driven expansion.
The lack of consistent revenue generation suggests that the company remains entirely dependent on external capital to fund its pipeline development. Investors should monitor the absence of commercial traction as a primary indicator that the firm is not yet transitioning toward a sustainable operational model.
Escalating R&D Intensity Strains Resources
Based on reported figures, R&D expenses have trended upward, reaching $38.9M in 2025Q3, which highlights the capital-intensive nature of the company's clinical trial programs and suggests that management is prioritizing pipeline advancement over immediate cost containment despite the significant pressure on the firm's limited cash reserves.
The rising R&D expenditure appears to reflect the high costs associated with late-stage clinical trials, which may indicate that the company is nearing a critical juncture for its lead candidates. This aggressive spending pattern warrants further investigation into whether the current burn rate is sustainable without immediate dilutive financing.
Operating Leverage Remains Deeply Negative
According to recent SEC filings, the company's operating income has remained consistently negative, with the 2025Q3 operating loss of $47.0M demonstrating that the firm lacks the scale to offset its substantial overhead, thereby confirming that operating leverage is currently non-existent in the company's pre-commercial business model.
The persistent operating losses suggest that the company's cost structure is heavily weighted toward fixed clinical and administrative expenses that do not scale with revenue. This implies that the firm will likely continue to experience significant margin pressure until a successful commercial launch can fundamentally alter its financial profile.
Sustainability Risks Amidst Cash Depletion
Based on the provided financial data, the company's cash position of approximately $60.6M appears insufficient to support the current quarterly burn rate, suggesting that the firm faces a high probability of needing dilutive equity financing or a strategic partnership to avoid a potential liquidity crisis.
The disparity between the current cash balance and the ongoing R&D expenditure suggests that the company's financial runway is rapidly narrowing. Investors should monitor the potential for further shareholder dilution, as the current trajectory indicates that the firm may struggle to maintain operations without securing additional capital in the near term.