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Adaptive Biotechnologies Corporation

Adaptive Biotechnologies Corporation

NASDAQ•ADPT
CEO: Mr. Chad M. Robins M.B.A.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2019-06-27
Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system. It also provides clonoSEQ diagnostic test which detects and monitors the remaining number of cancer cells that are present in a patient's body during and after treatment, known as Minimal Residual Disease (MRD). The company offers products and services for life sciences research, clinical diagnostics, and drug discovery applications. Adaptive Biotechnologies Corporation has strategic collaborations with Genentech, Inc. for the development, manufacture, and commercialization of neoantigen directed T cell therapies for the treatment of a range of cancers; and Microsoft Corporation to develop diagnostic tests for the early detection of various diseases from a single blood test. The company was formerly known as Adaptive TCR Corporation and changed its name to Adaptive Biotechnologies Corporation in December 2011. Adaptive Biotechnologies Corporation was incorporated in 2009 and is headquartered in Seattle, Washington.
Contact Information
1165 Eastlake Avenue East, Seattle, WA, 98109, United States
206-659-0067
www.adaptivebiotech.com
Market Cap
$2.26B
P/E (TTM)
-18.6
44.6
Dividend Yield
--
52W High
$17.89
52W Low
$4.27
52W Range
77%
2.2
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 2.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2024

Financial Dashboard

Q3 2025 Data

Revenue

$93.97M+102.38%
4-Quarter Trend

EPS

$0.06-127.27%
4-Quarter Trend

FCF

-$7.54M-72.50%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Revenue Surge Total revenue reached $94.0 M for the quarter, marking a 102% increase over prior period results.
Return to Quarterly Profitability Achieved $9.5 M net income this quarter, reversing prior period's $32.1 M net loss significantly.
MRD Revenue Strong Growth Nine-month MRD revenue grew $45.1 M, driven by $37.3 M increase from clonoSEQ clinical customers.
Cash Position Adequate Cash, cash equivalents, and marketable securities totaled $212.8 M as of September 30, 2025.

Risk Factors

Genentech Collaboration Ending Genentech Agreement terminated; winding down impacts future Immune Medicine revenue streams post-February 2026.
Reliance on Third Parties Expected reliance on collaborators for clinical testing and regulatory approval may fail due to unforeseen events.
NOL Utilization Limitation Federal NOL deductibility is subject to annual limitation under Section 382 analysis; deferred tax assets fully reserved.

Outlook

MRD Revenue Growth Expected Expect MRD revenue to increase long term via enhanced penetration, new patient populations, and optimized payor coverage.
Immune Medicine Revenue Decline Immune Medicine revenue expected to decrease short term following termination of the Genentech collaboration agreement.
Platform Expansion Focus Plan to utilize existing cash to fund commercial marketing for clonoSEQ and continued drug discovery R&D.

Peer Comparison

Revenue (TTM)

Travere Therapeutics, Inc.TVTX
$435.83M
+114.2%
Arcutis Biotherapeutics, Inc.ARQT
$317.93M
+129.2%
Galapagos NVGLPG
$316.64M
-3298.7%

Gross Margin (Latest Quarter)

Galapagos NVGLPG
475.5%
+375.5 pp
ImmunityBio, Inc.IBRX
99.4%
-0.6 pp
Arcutis Biotherapeutics, Inc.ARQT
91.2%
+3.5 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
IRON$3.13B-16.3-31.6%0.3%
ARQT$2.97B-69.8-29.7%1.7%
TVTX$2.89B-32.6-178.7%61.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+25.6%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 5, 2025|
    Revenue: $93.97M+102.4%
    |
    EPS: $0.06-127.3%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $58.88M+36.3%
    |
    EPS: $-0.17-45.2%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $52.44M+25.2%
    |
    EPS: $-0.20-39.4%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 3, 2025|
    Revenue: $178.96M+5.1%
    |
    EPS: $-1.08+30.8%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $46.44M+22.5%
    |
    EPS: $-0.22-37.1%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $43.19M-11.7%
    |
    EPS: $-0.31-6.1%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $41.87M+11.2%
    |
    EPS: $-0.33-17.5%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $170.28M-8.1%
    |
    EPS: $-1.56-56.0%
    Miss