AbCellera reported FY 2025 total revenue of USD 75.1 million, up 160.7%, and a net loss of USD 146.4 million, or USD (0.49) per share (basic and diluted). R&D expenses were USD 186.8 million and SG&A expenses were USD 83.2 million. The company ended FY 2025 with USD 561.0 million in cash, cash equivalents and marketable securities and about USD 135.0 million in available non-dilutive government funding, for total available liquidity of about USD 700.0 million. In Q4 2025, revenue was USD 44.9 million, primarily related to an upfront settlement payment from patent litigation, representing 60% of FY 2025 revenue; operating expenses were USD 73.4 million and net loss was USD 8.9 million, or USD (0.03) per share (basic and diluted). On the business side, AbCellera said it transitioned to a clinical-stage biotech company and completed multi-year platform investments, including opening a clinical manufacturing facility. ABCL635 entered the Phase 2 portion of its Phase 1/2 trial at the end of FY 2025, ABCL575 progressed through Phase 1, and development candidates ABCL688 and ABCL386 advanced into IND/CTA-enabling activities. The company also appointed Sarah Noonberg as Chief Medical Officer, reached 104 cumulative partner-initiated program starts with downstreams (up 8.0%), and reported 19 cumulative molecules in the clinic (up 19.0%).

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