Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD -1.3.

EBIT: As of FY2025, the actual value is USD -7.357 M.

Abpro Holdings, Inc. operates as a single reportable segment, focusing on the development of novel antibodies in immuno-oncology, ophthalmology, and infectious disease.

Operational Metrics

• Net Loss: For the year ended December 31, 2025, the net loss was - $2,892 thousand, which is an improvement from a net loss of - $7,232 thousand for the year ended December 31, 2024. The accumulated deficit as of December 31, 2025, was - $119.0 million.
• Revenue: The company did not generate any material revenues during 2025, representing a -100% decrease compared to $183 thousand in research and development services revenue in 2024.
• Operating Expenses: Total operating expenses decreased by -16% to $8,452 thousand in 2025 from $10,104 thousand in 2024.
  • Research and development expenses decreased by -67% to $989 thousand in 2025 from $2,983 thousand in 2024, primarily due to a decrease in research and development activities and personnel furloughs.
  • General and administrative expenses increased by 5% to $7,463 thousand in 2025 from $7,121 thousand in 2024, mainly due to increased costs of operating as a public company.
• Loss from Operations: Loss from operations was - $8,452 thousand in 2025, an improvement from - $9,921 thousand in 2024.
• Other Income, Net: Other income, net, increased by 107% to $5,560 thousand in 2025 from $2,689 thousand in 2024, primarily driven by the derecognition of a $4,401 thousand liability for excise taxes payable and a $3,300 thousand Mabwell liability in 2025, partially offset by - $1,128 thousand in interest expenses and - $773 thousand loss on the change in fair value of embedded derivative liability.

Cash Flow

• Net Cash Used in Operating Activities: Decreased by - $3,024 thousand (or -33%) to - $6,006 thousand in 2025 from - $9,030 thousand in 2024, mainly due to reduced operating cash spent on research and development.
• Net Cash Provided by Investing Activities: Increased to $26 thousand in 2025, from $0 in 2024, due to proceeds from the sale of laboratory equipment.
• Net Cash Provided by Financing Activities: Decreased by - $8,091 thousand (or -72%) to $3,070 thousand in 2025 from $11,161 thousand in 2024. In 2025, this included $1,840 thousand from the Second Convertible Note and $1,098 thousand from the issuance of Advance Shares under the SEPA. In 2024, proceeds included $10,400 thousand from PIPE Financing and $2,800 thousand from the First Convertible Note.
• Cash and Restricted Cash at Period End: $82 thousand as of December 31, 2025, down from $2,992 thousand as of December 31, 2024. The cash balance was $67 thousand as of December 31, 2025.

Unique Metrics

• Shares Outstanding: As of March 30, 2026, there were 5,896,048 shares of Common Stock outstanding, following the issuance of 3,162,785 shares in January and February 2026.

Outlook / Guidance

Management has concluded there is substantial doubt about Abpro Holdings, Inc.’s ability to continue as a going concern within one year due to ongoing operating losses and insufficient cash. The company plans to seek additional funding through various means and may slow cash burn if adequate funds are not secured. Expenses are expected to increase as preclinical activities and clinical trials for product candidates ABP-102 and ABP-201 advance, along with additional costs as a public company.