Latest revenue
$8.3M
as of 2026-03-31
Latest net income
$-43.2M
as of 2026-03-31
Net margin
-519.1%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Pharmaceutical Preparations (528 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 7, 2026.
Community sentiment
Where do you think ABCL is heading?
Price · 5Y
Market data
Price feed temporarily unavailable for ABCL.
5-year trend
What this company does
AbCellera discovers and develops antibody drugs, using a proprietary platform built over 15 years to hit hard-to-drug targets like GPCRs, ion channels, and multispecifics. Revenue historically came from partner-initiated discovery deals generating upfront fees, milestones, and royalties on 104 partnered programs, though the company now operates at a loss while building its own pipeline. AbCellera completed its pivot from technology partner to clinical-stage biotech in 2025, advancing lead candidate ABCL635 (non-hormonal hot flash treatment) into Phase 1/2 with roughly $700 million in liquidity.
Generated from ABCL's filing dated 2026-02-24
Key risks
- Pipeline concentration: only two clinical assets (ABCL635, ABCL575), with pivotal Phase 1/2 readouts not until Q3 2026 and Q4 2026 respectively.
- Cash burn: management expects continued losses and negative operating cash flow; $700M liquidity funds operations just beyond three years.
- Strategic shift risk: unproven in-house drug development after 15 years and ~$1B invested primarily as a discovery partner; partnership revenue declining since 2023.
Generated from ABCL's filing dated 2026-02-24
Profitability
Operating margin
-289.0%
73.5%Net margin
-194.9%
65.5%Return on equity
-13.9%
10.1%Return on assets
-10.8%
9.9%Leverage
Debt / equity
0.28×
1.2%Debt / assets
22.2%
0.9%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $8.3M | +96.3% | $-43.2M | +5.4% | -519.1% |
Q4 2025 2025-12-31 | $44.9M | +788.4% | $-8.9M | +73.9% | -19.9% |
Q3 2025 2025-09-30 | $9.0M | +37.6% | $-57.1M | -11.8% | -637.8% |
Q2 2025 2025-06-30 | $17.1M | +133.3% | $-34.7M | +6.0% | -203.3% |
Q1 2025 2025-03-31 | $4.2M | -57.5% | $-45.6M | -12.3% | -1077.2% |
Q4 2024 2024-12-31 | $5.0M | — | $-34.2M | — | -677.6% |
Q3 2024 2024-09-30 | $6.5M | -1.4% | $-51.1M | -78.6% | -785.4% |
Q2 2024 2024-06-30 | $7.3M | -27.2% | $-36.9M | -21.0% | -504.3% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Pharmaceutical Preparations · SIC 2834
Your notes
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Insider activity
Insider buying
$1.1M
Insider selling
$0
Net activity
+$1.1M
Distinct insiders
3
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ABCL
Institutional value
$161.5M
Total shares held
46.4M
Distinct holders
70
-75 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | Capital World Investors | 13.4M | $46.6M | +0 (+0.0%) | No change |
| 2 | TD Waterhouse Canada Inc. | 9.6M | $33.6M | +9.5M (+42576.5%) | Added |
| 3 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 7.6M | $26.4M | -301.2K (-3.8%) | Trimmed |
| 4 | UBS Group AG | 4.2M | $14.7M | +2.3M (+117.0%) | Added |
| 5 | BlackRock, Inc. | 4.0M | $14.1M | +174.3K (+4.5%) | Added |
| 6 | Jefferies Financial Group Inc. | 2.7M | $9.6M | — | New |
| 7 | JANE STREET GROUP, LLC | 847.9K | $3.0M | -549.2K (-39.3%) | Trimmed |
| 8 | Intellectus Partners, LLC | 546.1K | $1.9M | +22.7K (+4.3%) | Added |
| 9 | STATE OF MICHIGAN RETIREMENT SYSTEM | 400.0K | $1.4M | +0 (+0.0%) | No change |
| 10 | SEB Asset Management AB | 340.3K | $1.2M | — | New |
| 11 | CITIZENS FINANCIAL GROUP INC/RI | 261.9K | $914.0K | +0 (+0.0%) | No change |
| 12 | GROUP ONE TRADING LLC | 239.1K | $834.6K | +110.1K (+85.4%) | Added |
| 13 | Headlands Technologies LLC | 182.7K | $637.5K | -6.1K (-3.2%) | Trimmed |
| 14 | BANK OF MONTREAL /CAN/ | 181.7K | $634.1K | +35.3K (+24.1%) | Added |
| 15 | HSBC HOLDINGS PLC | 143.5K | $498.6K | -90.6K (-38.7%) | Trimmed |
| 16 | AXQ CAPITAL, LP | 136.2K | $475.4K | — | New |
| 17 | BNP PARIBAS FINANCIAL MARKETS | 125.3K | $437.4K | -86.0K (-40.7%) | Trimmed |
| 18 | LPL Financial LLC | 121.8K | $425.1K | +73.1K (+150.1%) | Added |
| 19 | PIER 88 INVESTMENT PARTNERS LLC | 120.1K | $419.1K | +14.4K (+13.6%) | Added |
| 20 | HighTower Advisors, LLC | 95.9K | $334.8K | +16.0K (+20.0%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With $700M liquidity funding operations just beyond three years and no near-term revenue, when do you anticipate needing to raise capital?
- 2
ABCL635's Phase 1/2 VMS readout isn't until Q3 2026—how do you justify NK3R differentiation versus already-approved Veozah and competing programs?
- 3
After ~$1B platform spend and 104 partnered programs yielding only 19 clinical molecules, what royalty cash flow do downstream stakes realistically deliver?
Refreshed when ABCL files a new report · last from 2026-02-24
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