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Adagio Medical Holdings, Inc. (ADGM)

USD0.57 -0.01 (-1.74%)
US NASDAQ Healthcare Medical - Devices
Address 26051 Merit Circle 92653
Laguna Hills, DE, US
CEO Todd Usen
IPO 2024-07-23
CIK 2006986 ISIN US00534B1008

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Description

Adagio Medical Holdings, Inc. is an emerging medical device firm focused on pioneering and commercializing innovative ablation technologies. Its core mission is to provide therapeutic solutions for various cardiac rhythm disorders, including but not limited to atrial fibrillation, atrial flutter, and ventricular tachycardia. The company's current product portfolio showcases advanced offerings such as the iCLAS atrial ultra-low temperature cryoablation (ULTC) catheter and its complementary accessories, the vCLAS ventricular ULTC catheter, and the Cryopulse atrial pulsed-field cryoablation catheter, also available with associated accessories. This entity, which commenced operations in 2011, has its principal office situated in Laguna Hills, California.

Market Cap & Enterprise Value
Merger & Acquisition History
Target company Ticker Date Filing
ARYA Sciences Acquisition Corp IV ARYD 2024-04-18 View
Technical Outlook
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Indicator 1D1W2W3W1M
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Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD0.57 -0.01 (-1.74%)
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Volume Profile
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Liquidity & share structure
Average Volume
141.3K
Beta
-0.20
Float Shares
15.17M
Free Float %
99.6%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.38% -11.69% -32.27% -8.55% +10.43% -13.38% -29.63% -90.05% -90.05% -90.05% -90.05%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
0.57
Low 3.00 +426.4%
Consensus 3.00 +426.4%
Median 3.00 +426.4%
High 3.00 +426.4%
Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 1 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Price Target Summary
Period # Analysts Avg Target
Last Month 1
3.00
+426.4%
Last Quarter 1
3.00
+426.4%
Last Year 1
3.00
+426.4%
All Time 1
3.00
+426.4%
Quality scores
Altman Z-Score
-5.13
Distress
Piotroski F-Score
1 / 9
Weak
MOAT Score
0 / 10
No MOAT
Composite Rating
D+
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Medical - Devices: +11.2%
    -100.0%
  • EPS growth Medical - Devices: +28.5%
    +57.3% Q1'26: +38.0% (vs Q1'25)
  • FCF margin FCF growth · Medical - Devices: +30.9%
  • EBIT margin Medical - Devices: +6.2%
  • ROIC Medical - Devices: +3.3%
    -128.4% Q1'26: -123.0% (vs Q1'25)
  • Share dilution Medical - Devices: 0.0%
    +9.1% Q1'26: +44.5% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Medical - Devices: -0.35×
    -1.04× Q1'26: -1.21× (vs Q1'25)
Valuation Multiples From To
DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.14) × ERP
WACC = 41% × Ke + 59% × Kd (13.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 0.57
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2025
actual
Dec 2026
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Dec 2028
2 Rev. Ana.
2 EPS Ana.
Dec 2029
1 Rev. Ana.
1 EPS Ana.
Dec 2030
1 Rev. Ana.
1 EPS Ana.
Revenue
— – —
2.42M
2.15M – 2.69M
7.25M
6.42M – 8.07M
+199.4% YoY
20.31M
18.01M – 22.62M
+180.3% YoY
42.85M
37.98M – 47.71M
+110.9% YoY
EBITDA
-20.92M
— – —
-1.45M
-1.62M – -1.29M
-4.35M
-4.84M – -3.85M
-199.4% YoY
-12.19M
-13.57M – -10.80M
-180.3% YoY
-25.71M
-28.63M – -22.79M
-110.9% YoY
EBIT
-21.89M
— – —
-1.45M
-1.62M – -1.29M
-4.35M
-4.84M – -3.85M
-199.4% YoY
-12.19M
-13.57M – -10.80M
-180.3% YoY
-25.71M
-28.63M – -22.79M
-110.9% YoY
Net Income
-25.08M
est: -25.08M (+0.0%)
-25.60M
-25.97M – -19.29M
-2.1% YoY
-33.10M
-33.67M – -25.01M
-29.3% YoY
-40.10M
-51.48M – -19.97M
-21.1% YoY
-55.04M
-63.16M – -46.91M
-37.2% YoY
-57.85M
-66.39M – -49.31M
-5.1% YoY
SGA
9.60M
— – —
53.30M
47.24M – 59.35M
159.57M
141.45M – 177.69M
+199.4% YoY
447.34M
396.54M – 498.13M
+180.3% YoY
943.66M
836.50M – 1.05B
+110.9% YoY
EPS
-1.51
est: -1.67 (+9.6%)
-1.37
-1.57 – -1.16
+18.3% YoY
-1.77
-2.03 – -1.51
-29.7% YoY
-2.16
-3.11 – -1.20
-21.8% YoY
-3.32
-3.81 – -2.83
-54.1% YoY
-3.49
-4.01 – -2.97
-5.1% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-13 D+ 1/5 1/5 1/5 1/5 1/5 1/5 2/5
2026-05-12 D+ 1/5 1/5 1/5 1/5 1/5 1/5 2/5
2026-05-11 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-05-08 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-05-07 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-05-06 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-05-05 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-05-04 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-05-01 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-30 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-29 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-28 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-27 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-24 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-23 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-22 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-21 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-20 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-17 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-16 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-18.37M
OE per share TTM
-1.08
Owner's Yield
-91.80%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
937.0%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
5
Total invested
139.1K
Insider transactions (90d)
0
Beneficial owners (>5%)
8
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 Joseph Edelman 15.26M 76.40% 15.26M 15.26M IN Delaware 2024-11-13
2 Perceptive Advisors LLC 15.26M 76.40% 15.26M 15.26M IA Delaware 2024-11-13
3 Perceptive Life Sciences Master Fund, Ltd. 15.06M 75.40% 15.06M 15.06M CO Delaware 2024-11-13
4 Peter Kolchinsky 1.34M 9.99% 1.34M 1.34M HC, IN Delaware 2024-08-12
5 RA Capital Management, L.P. 1.34M 9.99% 1.34M 1.34M IA, PN Delaware 2024-08-12
6 Rajeev Shah 1.34M 9.99% 1.34M 1.34M HC, IN Delaware 2024-08-12
7 RA Capital Healthcare Fund, L.P. 1.10M 8.20% 1.10M 1.10M PN Delaware 2024-08-12
8 C2 Life Sciences LLC 200.9K 1.00% 200.9K 200.9K CO Delaware 2024-11-13

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
5
-16 vs prev Q
New positions
4
Closed positions
20
Increased
4
Reduced
0
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 PERCEPTIVE ADVISORS LLC 9.88M +— (+0.0%) 10.27M -8.9M (-46.4%) 64.21% +0.000 pp 0.18% -0.370 pp USD2.57 -59.5% 6 qtrs
2 SIO CAPITAL MANAGEMENT, LLC 1.29M +1.3M (+100.0%) 1.34M +1.3M (+100.0%) 8.38% +8.377 pp 0.21% +0.211 pp USD1.04 +0.0% 1 qtrs NEW
3 ADAGE CAPITAL PARTNERS GP, L.L.C. 1.26M +200.0K (+18.9%) 1.31M -744.7K (-36.3%) 8.18% +1.300 pp 0.00% -0.001 pp USD1.10 -5.5% 4 qtrs
4 ALYESKA INVESTMENT GROUP, L.P. 1.16M +1.2M (+100.0%) 1.21M +1.2M (+100.0%) 7.54% +7.539 pp 0.00% +0.003 pp USD1.04 +0.0% 1 qtrs NEW
5 ADAR1 CAPITAL MANAGEMENT, LLC 1.16M +1.2M (+100.0%) 1.21M +1.2M (+100.0%) 7.54% +7.539 pp 0.09% +0.089 pp USD1.04 +0.0% 1 qtrs NEW
6 SILVERARC CAPITAL MANAGEMENT, LLC 515.4K +515.4K (+100.0%) 536.0K +536.0K (+100.0%) 3.35% +3.351 pp 0.07% +0.074 pp USD1.04 +0.0% 1 qtrs NEW
7 ARMISTICE CAPITAL, LLC 478.0K +478.0K (+100.0%) 497.1K +497.1K (+100.0%) 3.11% +3.108 pp 0.01% +0.006 pp USD1.04 +0.0% 1 qtrs NEW
8 HUDSON BAY CAPITAL MANAGEMENT LP 296.4K +296.4K (+100.0%) 308.2K +308.2K (+100.0%) 1.93% +1.927 pp 0.00% +0.001 pp USD1.04 +0.0% 1 qtrs NEW
9 SHAOLIN CAPITAL MANAGEMENT LLC 171.2K -8.8K (-4.9%) 178.0K -171.2K (-49.0%) 1.11% -0.057 pp 0.01% -0.010 pp USD1.52 -31.6% 6 qtrs
10 OPALEYE MANAGEMENT INC. 110.6K +— (+0.0%) 115.0K -99.5K (-46.4%) 0.72% +0.000 pp 0.02% -0.015 pp USD2.58 -59.7% 6 qtrs
11 AFFINITY ASSET ADVISORS, LLC 80.0K +— (+0.0%) 83.2K -72.0K (-46.4%) 0.52% +0.000 pp 0.00% -0.009 pp USD2.58 -59.7% 6 qtrs
12 VANGUARD GROUP INC 79.5K +46.4K (+140.2%) 82.6K +18.5K (+28.8%) 0.52% +0.302 pp 0.00% +0.000 pp USD1.41 -26.2% 2 qtrs
13 GEODE CAPITAL MANAGEMENT, LLC 68.3K +32.1K (+88.6%) 71.1K +767.0 (+1.1%) 0.44% +0.209 pp 0.00% +0.000 pp USD1.50 -30.7% 6 qtrs
14 TORONTO DOMINION BANK 25.0K +— (+0.0%) 26.0K -22.5K (-46.4%) 0.16% +0.000 pp 0.00% +0.000 pp USD0.96 +8.3% 5 qtrs
15 NORTHERN TRUST CORP 21.6K +21.6K (+100.0%) 22.5K +22.5K (+100.0%) 0.14% +0.140 pp 0.00% +0.000 pp USD1.04 +0.0% 1 qtrs NEW
16 HRT FINANCIAL LP 18.6K +18.6K (+100.0%) 19.0K +19.0K (+100.0%) 0.12% +0.121 pp 0.00% +0.000 pp USD1.04 +0.0% 1 qtrs NEW
17 XTX TOPCO LTD 18.1K +18.1K (+100.0%) 18.8K +18.8K (+100.0%) 0.12% +0.118 pp 0.00% +0.001 pp USD1.04 +0.0% 1 qtrs NEW
18 BANK OF AMERICA CORP /DE/ 11.5K +11.5K (+39,534.5%) 12.0K +11.9K (+21,246.4%) 0.07% +0.075 pp 0.00% +0.000 pp USD1.04 +0.0% 6 qtrs
19 TOWER RESEARCH CAPITAL LLC (TRC) 8.1K +6.1K (+290.9%) 8.5K +4.4K (+109.5%) 0.05% +0.039 pp 0.00% +0.000 pp USD1.11 -6.3% 6 qtrs
20 CREWE ADVISORS LLC 500.00 +500.0 (+100.0%) 520.00 +520.0 (+100.0%) 0.00% +0.003 pp 0.00% +0.000 pp USD1.04 +0.0% 1 qtrs NEW
21 MORGAN STANLEY 137.00 +137.0 (+100.0%) 142.00 +142.0 (+100.0%) 0.00% +0.001 pp 0.00% +0.000 pp USD1.04 +0.0% 1 qtrs NEW
22 BARCLAYS PLC -14.0 (-100.0%) -27.0 (-100.0%) 0.00% 0.000 pp 0.00% +0.000 pp USD 4 qtrs SOLD
23 CITIGROUP INC -1.0 (-100.0%) -2.0 (-100.0%) 0.00% +0.000 pp 0.00% +0.000 pp USD 2 qtrs SOLD
24 UBS GROUP AG -83.0 (-100.0%) -161.0 (-100.0%) 0.00% -0.001 pp 0.00% +0.000 pp USD 6 qtrs SOLD
25 RTW INVESTMENTS, LP -209.4K (-100.0%) -406.2K (-100.0%) 0.00% -1.361 pp 0.00% -0.005 pp USD 6 qtrs SOLD
26 RENAISSANCE TECHNOLOGIES LLC -27.0K (-100.0%) -52.4K (-100.0%) 0.00% -0.176 pp 0.00% 0.000 pp USD 2 qtrs SOLD
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 11 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Vanguard Extended Market ETF VXF 0.00% 64.8K 0.05%
2 Vanguard Total Stock Market ETF VTI 0.00% 3.0K 0.03%
3 Vanguard U.S. Total Market Shares Index ETF VTS.AX 0.00% 6.35 0.03%
4 Vanguard U.S. Total Market Index ETF VUN.TO 0.00% 17.42 0.17%
5 Vanguard U.S. Total Market Index ETF (CAD-hedged) VUS.TO 0.00% 1.29 0.17%
6 Vanguard All-Equity ETF Portfolio VEQT.TO 0.00% 6.64 0.22%
7 Vanguard Growth ETF Portfolio VGRO.TO 0.00% 3.71 0.22%
8 Vanguard Balanced ETF Portfolio VBAL.TO 0.00% 1.20 0.22%
9 Vanguard Conservative ETF Portfolio VCNS.TO 0.00% 0.13 0.22%
10 Vanguard Conservative Income ETF Portfolio VCIP.TO 0.00% 0.02 0.22%

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
7
Sells
0
Shares acquired
6.54M
Shares disposed
Cash buys
6.00
Cash sales
Net activity
+6,537,808
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2026-03-06 Usen Todd Director / Officer A-Award A Employee Stock Options (Right to Buy) 800,000 0.98 781.6K 800,000 D
2026-03-06 Kaster Deborah Officer A-Award A Employee Stock Options (Right to Buy) 490,500 0.98 479.2K 490,500 D
2025-12-16 Kaster Deborah Officer P-Purchase A Common Stock 15,000 1.20 18.0K 15,000 D
2025-12-12 Usen Todd Director / Officer P-Purchase A Common Stock 207,315 1.09 226.0K 207,315 D
2025-12-11 Salmon Sean Director A-Award A Non-qualified stock option (right to buy) 90,000 0.88 79.0K 90,000 D
2025-10-20 PERCEPTIVE ADVISORS LLC Director / 10% Owner P-Purchase A Tranche B Warrant ("Common Warrant" right to buy) 1,344,999 1.71 2.30M 1,344,999 I
2025-09-05 Kaster Deborah Officer Employee Stock Option (right to buy) 728,000 0.84 611.5K 0 D
2025-04-17 George Dan 0 0.00 0
2025-03-20 Moran Timothy P. Director A-Award A Non-qualified stock option (right to buy) 90,000 0.87 77.9K 90,000 D
2025-03-20 Mirsaeedi-Farahani Keyvan Director A-Award A Non-qualified stock option (right to buy) 90,000 0.87 77.9K 90,000 D
2025-03-20 MISHAN ORLY Director A-Award A Non-qualified stock option (right to buy) 300,000 0.87 259.5K 300,000 D
2025-03-20 GARDINER SANDRA A. Director A-Award A Non-qualified stock option (right to buy) 90,000 0.87 77.9K 90,000 D
2025-03-20 Cox James L Director A-Award A Non-qualified stock option (right to buy) 364,000 0.87 314.9K 364,000 D
2025-02-11 Usen Todd Director / Officer A-Award A Employee Stock Options (Right to Buy) 1,820,567 1.13 2.06M 1,820,567 D
2025-01-22 PERCEPTIVE ADVISORS LLC Director / 10% Owner A-Award A Common Stock 64,167 2.00 128.3K 9,675,684 D
2024-12-13 Usen Todd 0 0.00 0
2024-09-27 ARYA Sciences Holdings IV 10% Owner J-Other D Common Stock 3,501,600 0.00 350.16 0 D

Executive team

Top executives
Shares Outstanding
15.22M

Executive compensation

Executive compensation (annual)
# Year Executive Salary Bonus Stock award Option award Incentive Other Total % Stock-
based
Filing
1 2025 Todd Usen Chief Executive Officer 500.0K 330.0K 1.63M 38.6K 2.50M 65.26%
2 2025 Deborah Kaster Chief Financial Officer 251.9K 101.1K 483.0K 836.0K 57.78%
3 2025 Hakon Bergheim Former Chief Operating Officer 53.9K 117.6K 171.6K 0.00%
4 2025 John Dahldorf Former Chief Financial Officer 104.6K 49.0K 153.7K 0.00%
5 2024 John Dahldorf Former Chief Financial Officer 425.0K 67.6K 492.6K 0.00%
6 2024 Hakon Bergheim Former Chief Operating Officer 323.6K 48.5K 372.2K 0.00%
7 2024 Todd Usen Chief Executive Officer 22.9K 22.9K 0.00%
8 2023 John Dahldorf Former Chief Financial Officer 283.3K 106.3K 309.7K 699.3K 44.29%
9 2023 Hakon Bergheim Former Chief Operating Officer 318.5K 69.3K 387.8K 0.00%
10 2023 Olav Bergheim. Former President and Chief Executive Officer 88.7K 88.7K 0.00%
CEO compensation breakdown

Proxy statements

Proxy statements (DEF 14A)
Filing date Form type Filing
2026-04-30 DEF 14A
2025-12-11 DEFA14A
2025-11-04 DEF 14A

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-13 SC 13G/A
2026-05-12 8-K
2026-05-12 10-Q
2026-04-30 DEF 14A
2026-04-30 ARS
2026-04-27 8-K
2026-04-20 8-K
2026-04-08 8-K
2026-04-03 EFFECT
2026-04-03 EFFECT

Executive team

NameTitleCompensationGender
Todd Usen Chief Executive Officer & Director 448.7K male
Antwan Gipson Senior Vice President of Manufacturing & Operations male
Deborah Kaster Chief Financial Officer & Chief Business Officer female
Ilya Grigorov Vice President of Global Marketing & Product Management male
Alex Babkin Chief Technical Officer
Maryline Cullen Corporate Controller female
Nabil Jubran Chief Compliance Officer male
Marie-Claude Jacques Senior Vice President of Global Sales female
ESG Rating
B
MEDICAL - DEVICES
Rank: 79 out of 168
2026
E (Environmental)
62.7 / 62.5
Company / Sector avg.
S (Social)
78.1 / 68.9
Company / Sector avg.
G (Governance)
75.2 / 64.8
Company / Sector avg.
ESG Total
72.0 / 65.4
Company / Sector avg.
ESG Score History MEDICAL - DEVICES
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits