Where are you located? I am in South Florida and grow Adenium as a hobby. The one in the picture looks pretty good. How many hours of direct sunlight is the plant getting? How often are you watering? These plants love a lot of sun. From the size of the caudex and the size of the leaves, I'm guessing it's a couple of months old? In my opinion, I would move it to its own small pot (no larger than 4") with plenty of drainage holes. Use a fast draining medium. My mix consists of potting soil, coarse perlite, pine bark fines. My babies are in full sun all day and I water every 3-4 days in the summer growing months. When I water, I make sure the water runs out of the bottom of the pot. If it rains, I don't water until the surface is dry. Honestly, it looks like it's in good shape but I think placing it into its own pot will help it along. Good luck!
