AbCellera Biologics Inc.
ABCL Nasdaq Pharmaceutical Preparations Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$75.1M
160.6%
vs prior year
Operating margin
Operating income as a share of revenue.
−289.0%
802.7 pts
Net income
Profit after all expenses, interest and tax.
−$146M
Free cash flow
Cash from operations minus capital spending.
−$174M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.54 EPS (TTM)
What AbCellera Biologics Inc. does
No business description yet.
- Legal name
- AbCellera Biologics Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Accession · CIK
- 0001703057-26-000012
0001703057
Revenue and margins
AbCellera Biologics Inc. had $75.1M of revenue in fiscal 2025, up 160.6% on the year before.
FY19
Revenue $11.6M
FY20
Revenue $233M
FY21
Revenue $375M
FY22
Revenue $485M
FY23
Revenue $38.0M
FY24
Revenue $28.8M
FY25
Revenue $75.1M
Q3 '23
Revenue $6.6M
Q4 '23
Revenue $9.2M
Q1 '24
Revenue $10.0M
Q2 '24
Revenue $7.3M
Q3 '24
Revenue $6.5M
Q4 '24
Revenue $5.1M
Q1 '25
Revenue $4.2M
Q2 '25
Revenue $17.1M
Q3 '25
Revenue $9.0M
Q4 '25
Revenue $44.9M
Q1 '26
Revenue $8.3M
Q2 '26
Revenue $4.1M
FY19
Gross —
Operating −35.5%
Net −19.0%
FCF −11.2%
FY20
Gross —
Operating 66.9%
Net 51.0%
FCF 5.6%
FY21
Gross —
Operating 54.5%
Net 40.9%
FCF 49.6%
FY22
Gross —
Operating 44.6%
Net 32.7%
FCF 42.6%
FY23
Gross —
Operating −623.8%
Net −385.0%
FCF −317.7%
FY24
Gross —
Operating −1,091.7%
Net −564.8%
FCF −648.4%
FY25
Gross —
Operating −289.0%
Net −194.9%
FCF −231.7%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating −831.8%
Net −433.6%
FCF −309.7%
Q4 '23
Gross —
Operating −719.6%
Net −513.7%
FCF −370.9%
Q1 '24
Gross —
Operating −551.5%
Net −408.0%
FCF −661.5%
Q2 '24
Gross —
Operating −1,276.2%
Net −504.3%
FCF −683.8%
Q3 '24
Gross —
Operating −1,439.4%
Net −785.4%
FCF −728.4%
Q4 '24
Gross —
Operating −1,440.7%
Net −677.4%
FCF −467.9%
Q1 '25
Gross —
Operating −1,479.6%
Net −1,077.2%
FCF −524.0%
Q2 '25
Gross —
Operating −290.2%
Net −203.3%
FCF −267.9%
Q3 '25
Gross —
Operating −851.8%
Net −637.8%
FCF −687.0%
Q4 '25
Gross —
Operating −63.7%
Net −19.9%
FCF −99.4%
Q1 '26
Gross —
Operating −691.7%
Net −519.1%
FCF −449.2%
Q2 '26
Gross —
Operating −1,550.0%
Net −1,368.6%
FCF 587.4%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income −$2.2M
FY20
Net income $119M
FY21
Net income $153M
FY22
Net income $159M
FY23
Net income −$146M
FY24
Net income −$163M
FY25
Net income −$146M
Q3 '23
Net income −$28.6M
Q4 '23
Net income −$47.2M
Q1 '24
Net income −$40.6M
Q2 '24
Net income −$36.9M
Q3 '24
Net income −$51.1M
Q4 '24
Net income −$34.2M
Q1 '25
Net income −$45.6M
Q2 '25
Net income −$34.7M
Q3 '25
Net income −$57.1M
Q4 '25
Net income −$8.9M
Q1 '26
Net income −$43.2M
Q2 '26
Net income −$55.4M
FY19
Diluted EPS −$0.01
FY20
Diluted EPS $0.45
FY21
Diluted EPS $0.48
FY22
Diluted EPS $0.50
FY23
Diluted EPS −$0.51
FY24
Diluted EPS −$0.55
FY25
Diluted EPS −$0.49
Q3 '23
Diluted EPS −$0.10
Q4 '23
Diluted EPS −$0.16
Q1 '24
Diluted EPS −$0.14
Q2 '24
Diluted EPS −$0.13
Q3 '24
Diluted EPS −$0.17
Q4 '24
Diluted EPS −$0.11
Q1 '25
Diluted EPS −$0.15
Q2 '25
Diluted EPS −$0.12
Q3 '25
Diluted EPS −$0.19
Q4 '25
Diluted EPS −$0.03
Q1 '26
Diluted EPS −$0.14
Q2 '26
Diluted EPS −$0.18
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity −21.6%
Return on assets —
FY20
Return on capital 49.7%
Return on equity 28.3%
Return on assets 11.8%
FY21
Return on capital —
Return on equity 16.5%
Return on assets 13.2%
FY22
Return on capital —
Return on equity 14.0%
Return on assets 11.1%
FY23
Return on capital —
Return on equity −12.3%
Return on assets −9.7%
FY24
Return on capital —
Return on equity −14.7%
Return on assets −11.4%
FY25
Return on capital —
Return on equity −14.5%
Return on assets −10.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$174M in fiscal 2025, −231.7% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow −$1.3M
FY20
Free cash flow $13.0M
FY21
Free cash flow $186M
FY22
Free cash flow $207M
FY23
Free cash flow −$121M
FY24
Free cash flow −$187M
FY25
Free cash flow −$174M
Q3 '23
Free cash flow −$20.4M
Q4 '23
Free cash flow −$34.0M
Q1 '24
Free cash flow −$65.8M
Q2 '24
Free cash flow −$50.1M
Q3 '24
Free cash flow −$47.4M
Q4 '24
Free cash flow −$23.6M
Q1 '25
Free cash flow −$22.2M
Q2 '25
Free cash flow −$45.8M
Q3 '25
Free cash flow −$61.5M
Q4 '25
Free cash flow −$44.6M
Q1 '26
Free cash flow −$37.4M
Q2 '26
Free cash flow $23.8M
FY19
Cash from operations $2.7M
Capital spending $4.0M
FY20
Cash from operations $22.7M
Capital spending $9.7M
FY21
Cash from operations $245M
Capital spending $58.5M
FY22
Cash from operations $277M
Capital spending $70.7M
FY23
Cash from operations −$43.9M
Capital spending $76.9M
FY24
Cash from operations −$109M
Capital spending $78.4M
FY25
Cash from operations −$131M
Capital spending $42.8M
Cash from operations
Capital spending
Q3 '23
Cash from operations −$0.1M
Capital spending $20.3M
Q4 '23
Cash from operations −$19.6M
Capital spending $14.4M
Q1 '24
Cash from operations −$41.7M
Capital spending $24.1M
Q2 '24
Cash from operations −$30.0M
Capital spending $20.1M
Q3 '24
Cash from operations −$28.9M
Capital spending $18.5M
Q4 '24
Cash from operations −$8.0M
Capital spending $15.6M
Q1 '25
Cash from operations −$11.6M
Capital spending $10.6M
Q2 '25
Cash from operations −$32.4M
Capital spending $13.4M
Q3 '25
Cash from operations −$52.6M
Capital spending $8.9M
Q4 '25
Cash from operations −$34.7M
Capital spending $9.8M
Q1 '26
Cash from operations −$33.5M
Capital spending $3.8M
Q2 '26
Cash from operations $25.9M
Capital spending $2.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
AbCellera Biologics Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 1.5%.
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.15B
FY20
Diluted shares 0.26B
FY21
Diluted shares 0.32B
FY22
Diluted shares 0.31B
FY23
Diluted shares 0.29B
FY24
Diluted shares 0.29B
FY25
Diluted shares 0.30B
Balance sheet
Cash, debt and the ratios that show how comfortably AbCellera Biologics Inc. can carry it.
FY19
Cash —
Debt —
FY20
Cash $594M
Debt $0.2M
FY21
Cash $476M
Debt —
FY22
Cash $387M
Debt —
FY23
Cash $133M
Debt —
FY24
Cash $156M
Debt —
FY25
Cash $129M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $476M | $387M | $133M | $156M | $129M |
| Current ratio | 7.7x | 8.7x | 7.3x | 9.8x | 11.3x |
| Quick ratio | 7.7x | 8.7x | 7.3x | 9.8x | 11.2x |
| Total assets | $1.3B | $1.5B | $1.5B | $1.4B | $1.4B |
| Total liabilities | $293M | $308M | $336M | $304M | $390M |
| Shareholders' equity | $1.0B | $1.2B | $1.2B | $1.1B | $967M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ |
| Return on assets rose | — | — | ✕ | ✕ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | — | — | — | — |
| Current ratio rose | — | — | ✕ | ✓ | ✕ | ✓ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | — | ✓ | ✓ | ✕ | ✕ | ✓ |
| F-score | — / 3 | — / 4 | 4 / 7 | 6 / 7 | 2 / 7 | 2 / 7 | 4 / 7 |
| Accruals ratio | — | 9.6% | −7.8% | −8.3% | −6.8% | −3.8% | −1.1% |
| Altman Z'' | — | 11.03 | 9.41 | 9.92 | 6.46 | 5.62 | 4.67 |
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $11.6M | $233M | $375M | $485M | $38.0M | $28.8M | $75.1M |
| Research and development | $10.1M | $29.4M | $62.1M | $108M | $176M | $167M | $187M |
| Operating income | −$4.1M | $156M | $204M | $217M | −$237M | −$315M | −$217M |
| Pretax income | −$2.2M | $158M | $219M | $239M | −$174M | −$200M | −$178M |
| Income tax | — | $38.9M | $65.7M | $80.6M | −$27.6M | −$37.5M | −$31.2M |
| Net income | −$2.2M | $119M | $153M | $159M | −$146M | −$163M | −$146M |
| Net income to common | −$2.2M | $85.1M | $153M | $159M | −$146M | −$163M | −$146M |
| Diluted EPS | −$0.01 | $0.45 | $0.48 | $0.50 | −$0.51 | −$0.55 | −$0.49 |
| Diluted shares | 0.15B | 0.26B | 0.32B | 0.31B | 0.29B | 0.29B | 0.30B |
| Cash flow | |||||||
| Cash from operations | $2.7M | $22.7M | $245M | $277M | −$43.9M | −$109M | −$131M |
| Capital expenditure | $4.0M | $9.7M | $58.5M | $70.7M | $76.9M | $78.4M | $42.8M |
| Free cash flow | −$1.3M | $13.0M | $186M | $207M | −$121M | −$187M | −$174M |
| Depreciation and amortization | $1.6M | $4.8M | $14.5M | $27.8M | $24.4M | $12.5M | $18.4M |
| Stock-based compensation | $0.9M | $8.4M | $30.6M | $49.5M | $64.2M | $67.6M | $55.8M |
| Acquisitions | — | $87.6M | $11.5M | $0.0M | $0.0M | — | — |
| Balance sheet | |||||||
| Cash and short-term investments | — | $594M | $476M | $387M | $133M | $156M | $129M |
| Total debt | — | $0.2M | — | — | — | — | — |
| Current assets | — | $813M | $930M | $1.0B | $872M | $751M | $728M |
| Current liabilities | — | $103M | $121M | $118M | $119M | $76.6M | $64.3M |
| Inventory | — | — | — | — | — | $0.0M | $6.3M |
| Property and equipment, net | — | $17.9M | $112M | $217M | — | — | — |
| Goodwill | — | $31.5M | $47.8M | $47.8M | $47.8M | $47.8M | $47.8M |
| Intangible assets | $0.0M | $115M | $148M | $132M | $120M | $42.1M | $38.4M |
| Total assets | — | $1.0B | $1.3B | $1.5B | $1.5B | $1.4B | $1.4B |
| Total liabilities | — | $175M | $293M | $308M | $336M | $304M | $390M |
| Shareholders' equity | $10.3M | $831M | $1.0B | $1.2B | $1.2B | $1.1B | $967M |
| Margins | |||||||
| Operating margin | −35.5% | 66.9% | 54.5% | 44.6% | −623.8% | −1,091.7% | −289.0% |
| EBITDA margin | −21.6% | 69.0% | 58.3% | 50.3% | −559.7% | −1,048.2% | −264.4% |
| Net margin | −19.0% | 51.0% | 40.9% | 32.7% | −385.0% | −564.8% | −194.9% |
| FCF margin | −11.2% | 5.6% | 49.6% | 42.6% | −317.7% | −648.4% | −231.7% |
| Returns | |||||||
| Return on capital | — | 49.7% | — | — | — | — | — |
| Return on capital employed | — | 17.3% | 17.1% | 15.2% | −17.3% | −24.5% | −16.8% |
| Return on equity | −21.6% | 28.3% | 16.5% | 14.0% | −12.3% | −14.7% | −14.5% |
| Return on assets | — | 11.8% | 13.2% | 11.1% | −9.7% | −11.4% | −10.8% |
| Return on tangible equity | −21.6% | 12.4% | 18.5% | 15.0% | −14.9% | −16.9% | −16.6% |
| Growth | |||||||
| Revenue growth | — | 1,907.9% | 60.9% | 29.4% | −92.2% | −24.2% | 160.6% |
| Net income growth | — | — | 29.1% | 3.3% | −192.4% | — | — |
| EPS growth | — | — | 6.7% | 4.2% | −202.0% | — | — |
| FCF growth | — | — | 1,329.9% | 11.1% | −158.5% | — | — |
| Share count change | — | 73.9% | 21.0% | −1.1% | −8.2% | 1.8% | 1.5% |
| Financial health | |||||||
| Net debt / EBITDA | — | −3.7x | — | — | — | — | — |
| Debt / equity | — | 0.0x | — | — | — | — | — |
| Current ratio | — | 7.9x | 7.7x | 8.7x | 7.3x | 9.8x | 11.3x |
| Quick ratio | — | 7.9x | 7.7x | 8.7x | 7.3x | 9.8x | 11.2x |
| Capital allocation | |||||||
| Capex / revenue | 34.4% | 4.1% | 15.6% | 14.6% | 202.4% | 271.9% | 56.9% |
| Stock comp / revenue | 7.7% | 3.6% | 8.2% | 10.2% | 168.8% | 234.4% | 74.3% |
| Quality scores | |||||||
| Piotroski F-score | — | — | 4.0 | 6.0 | 2.0 | 2.0 | 4.0 |
| Altman Z'' | — | 11.0 | 9.4 | 9.9 | 6.5 | 5.6 | 4.7 |
| Accruals ratio | — | 9.6% | −7.8% | −8.3% | −6.8% | −3.8% | −1.1% |
Source: SEC EDGAR XBRL filings (CIK 0001703057). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.