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Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and INNEOVA Holdings Ltd (INEO). Click either name above to swap in a different company.

INNEOVA Holdings Ltd is the larger business by last-quarter revenue ($30.8M vs $23.1M, roughly 1.3× ADC Therapeutics SA).

ADC Telecommunications, Inc. was a communications company in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. It was acquired by TE Connectivity in December 2010 and ceased to exist as a separate entity. ADC products were sold by CommScope after it acquired the Broadband Network Solutions business unit from TE Connectivity in August 2015.

ADCT vs INEO — Head-to-Head

Bigger by revenue
INEO
INEO
1.3× larger
INEO
$30.8M
$23.1M
ADCT

Income Statement — Q4 FY2025 vs Q2 FY2025

Metric
ADCT
ADCT
INEO
INEO
Revenue
$23.1M
$30.8M
Net Profit
$243.0K
Gross Margin
19.3%
Operating Margin
-77.7%
3.6%
Net Margin
0.8%
Revenue YoY
36.4%
Net Profit YoY
EPS (diluted)
$0.04
$0.02

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ADCT
ADCT
INEO
INEO
Q4 25
$23.1M
Q3 25
$15.8M
Q2 25
$18.1M
$30.8M
Q1 25
$17.4M
Q4 24
$16.9M
Q3 24
$18.0M
Q2 24
$17.0M
Q1 24
$17.8M
Net Profit
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
$-41.0M
Q2 25
$-56.6M
$243.0K
Q1 25
$-38.6M
Q4 24
Q3 24
$-44.0M
Q2 24
$-36.5M
Q1 24
$-46.6M
Gross Margin
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
Q2 25
19.3%
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
ADCT
ADCT
INEO
INEO
Q4 25
-77.7%
Q3 25
-196.6%
Q2 25
-244.1%
3.6%
Q1 25
-163.5%
Q4 24
-191.8%
Q3 24
-197.4%
Q2 24
-170.5%
Q1 24
-188.3%
Net Margin
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
-260.1%
Q2 25
-313.2%
0.8%
Q1 25
-221.8%
Q4 24
Q3 24
-244.1%
Q2 24
-214.6%
Q1 24
-261.1%
EPS (diluted)
ADCT
ADCT
INEO
INEO
Q4 25
$0.04
Q3 25
$-0.30
Q2 25
$-0.50
$0.02
Q1 25
$-0.36
Q4 24
$-0.26
Q3 24
$-0.42
Q2 24
$-0.38
Q1 24
$-0.56

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ADCT
ADCT
INEO
INEO
Cash + ST InvestmentsLiquidity on hand
$261.3M
$2.1M
Total DebtLower is stronger
$2.9M
Stockholders' EquityBook value
$-185.8M
$11.2M
Total Assets
$323.1M
$52.6M
Debt / EquityLower = less leverage
0.26×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ADCT
ADCT
INEO
INEO
Q4 25
$261.3M
Q3 25
$234.7M
Q2 25
$264.6M
$2.1M
Q1 25
$194.7M
Q4 24
$250.9M
Q3 24
$274.3M
Q2 24
$300.1M
Q1 24
$234.3M
Total Debt
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
Q2 25
$2.9M
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
ADCT
ADCT
INEO
INEO
Q4 25
$-185.8M
Q3 25
$-238.2M
Q2 25
$-199.2M
$11.2M
Q1 25
$-238.2M
Q4 24
$-202.6M
Q3 24
$-171.9M
Q2 24
$-131.7M
Q1 24
$-194.4M
Total Assets
ADCT
ADCT
INEO
INEO
Q4 25
$323.1M
Q3 25
$289.8M
Q2 25
$321.6M
$52.6M
Q1 25
$272.5M
Q4 24
$322.0M
Q3 24
$349.1M
Q2 24
$371.8M
Q1 24
$308.0M
Debt / Equity
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
Q2 25
0.26×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ADCT
ADCT
INEO
INEO
Operating Cash FlowLast quarter
$-31.1M
$-301.0K
Free Cash FlowOCF − Capex
$-1.5M
FCF MarginFCF / Revenue
-4.8%
Capex IntensityCapex / Revenue
0.0%
3.8%
Cash ConversionOCF / Net Profit
-1.24×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ADCT
ADCT
INEO
INEO
Q4 25
$-31.1M
Q3 25
$-29.6M
Q2 25
$-24.1M
$-301.0K
Q1 25
$-56.3M
Q4 24
$-21.9M
Q3 24
$-25.0M
Q2 24
$-32.8M
Q1 24
$-44.1M
Free Cash Flow
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
Q2 25
$-1.5M
Q1 25
$-56.6M
Q4 24
$-21.9M
Q3 24
$-25.3M
Q2 24
$-32.9M
Q1 24
$-44.6M
FCF Margin
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
Q2 25
-4.8%
Q1 25
-325.2%
Q4 24
-129.8%
Q3 24
-140.2%
Q2 24
-193.0%
Q1 24
-250.0%
Capex Intensity
ADCT
ADCT
INEO
INEO
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.0%
3.8%
Q1 25
1.5%
Q4 24
0.5%
Q3 24
1.2%
Q2 24
0.2%
Q1 24
3.0%
Cash Conversion
ADCT
ADCT
INEO
INEO
Q4 25
Q3 25
Q2 25
-1.24×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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