AbCellera Biologics Inc.
abcellera.comWhat Do They Do?
Develops antibody-based medicines for patients and discovers and advances antibody drug candidates for drug companies, nonprofit organizations, and government partners.
10-K for FY2025, filed Feb 24, 2026
How Do They Make Money?
Partners pay fixed fees at the start and at stages of discovery work; AbCellera may also receive payments when development or commercial milestones are met and royalties when licensed drugs sell.
10-K for FY2025, filed Feb 24, 2026The terms of our arrangements generally include the payment of one or more of the following: (i) non-refundable, up-front fixed fees, (ii)…View ↗
F-9 the customer of licensed drugs, and in some cases, (vi) early termination penalties, and (vii) reimbursements for costs incurred to…View ↗
The transaction price generally includes fixed fees due at contract inception as well as fixed fees payable at the beginning and end of…View ↗
The Company allocates the transaction price to each performance obligation identified in the contract based on relative observable…View ↗
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10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by product or service ↗
$75.1M
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10-K for FY2025, filed Feb 24, 2026
$75.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Research fees
Recurring
10-K for FY2025, filed Feb 24, 2026 |
36%
FY2022: 8.4%
|
Research fees, FY2025
$27.2M Sources
|
Recurring |
|
Milestone payments
Sold outright
|
1.3%
FY2022: 0.2%
|
Milestone payments, FY2025
$1M Sources
|
Sold outright |
|
Licensing and royalty revenue
Licensed
10-K for FY2025, filed Feb 24, 2026 |
62%
FY2022: 0.1%
|
Licensing and royalty revenue, FY2025
$46.9M Sources
|
Licensed |
Who Are Their Customers?
Drug companies, nonprofit organizations, and government organizations partner with AbCellera on antibody discovery programs; partners bring drug ideas and problems for AbCellera to solve.
10-K for FY2025, filed Feb 24, 2026
Do Revenues Turn Into Profits?
No. It lost $146.4M in FY2025.
10-K for FY2025, filed Feb 24, 2026
−$217.1MView ↗
10-K for FY2025, filed Feb 24, 2026
−$146.4MView ↗
10-K for FY2025, filed Feb 24, 2026
−$174.1MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$55.4MView ↗
- ▲ +60% (Loss)
- vs −$34.7M in Q2 FY2025
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Jul 29, 2026
Agreed to develop T-cell engager antibodies with Vertex
Sources
8-K, filed Jul 29, 2026
On July 29, 2026, AbCellera Biologics Inc. (the “Company”) issued a press release announcing a collaboration with Vertex Pharmaceuticals…View ↗
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Jun 17, 2026
Signed a T-cell engager antibody collaboration with Jazz
Sources
8-K, filed Jun 17, 2026
On June 17, 2026, AbCellera Biologics Inc. (the “Company”) issued a press release announcing a preclinical research collaboration, option…View ↗
Shrinking. Revenue fell 80% in 4 years, from $375.2M in FY2021 to $75.1M in FY2025, about 33% a year.
From partnerships to an internal pipeline
AbCellera moved from emphasizing partner-led discovery and royalty stakes to developing its own drug pipeline; after completing its platform build-out, it says its focus shifted to advancing that pipeline.
10-K for FY2022, filed Feb 21, 2023 10-K for FY2025, filed Feb 24, 2026
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