NASDAQ : ADPT
Adaptive Biotechnologies Corporation — Financial statements
Healthcare · Biotechnology · United States
Last price 26.64 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.25B
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Financial statements
Adaptive Biotechnologies Corporation (ADPT) reported revenue of 308.08M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 308.08M | 276.98M | 178.96M | 170.28M | 185.31M | 154.34M |
| Cost of Revenue | 163.46M | 165.13M | 175.03M | 197.67M | 199.66M | 191.64M |
| Gross Profit | 144.62M | 111.85M | 3.92M | -27.39M | -14.36M | -37.30M |
| Selling, General & Admin | 180.38M | 167.27M | 157.56M | 172.51M | 184.13M | 169.97M |
| Amortization of Goodwill & Intangibles | 1.70M | 1.70M | 1.70M | 1.70M | 1.70M | 1.70M |
| Operating Expenses | 182.08M | 168.97M | 159.27M | 174.21M | 185.83M | 171.67M |
| Operating Income | -37.46M | -57.12M | -155.34M | -201.61M | -200.19M | -208.97M |
| Interest Expense | -11.51M | -11.78M | -11.58M | -13.80M | -4.24M | |
| Interest & Investment Income | 7.66M | 6.93M | 6.33M | 6.35M | 4.80M | 8.90M |
| EBT Excluding Unusual Items | -41.31M | -61.97M | -160.60M | -209.06M | -199.63M | -200.06M |
| Merger & Restructuring Charges | -7.21M | |||||
| Gain (Loss) on Sale of Investments | 1.05M | 2.51M | 8.21M | 9.18M | -741.00K | -7.23M |
| Asset Writedown | -25.43M | |||||
| Pretax Income | -63.99M | -59.46M | -159.59M | -225.30M | -200.37M | -207.30M |
| Earnings From Continuing Operations | -63.99M | -59.46M | -159.59M | -225.30M | -200.37M | -207.30M |
| Minority Interest in Earnings | 136.00K | -42.00K | 103.00K | 54.00K | 177.00K | 19.00K |
| Net Income | -63.85M | -59.50M | -159.49M | -225.25M | -200.19M | -207.28M |
| Net Income to Common | -63.85M | -59.50M | -159.49M | -225.25M | -200.19M | -207.28M |
| Shares Outstanding (Basic) | 155.25M | 151.72M | 147.10M | 144.38M | 142.52M | 140.35M |
| Shares Outstanding (Diluted) | 155.25M | 151.72M | 147.10M | 144.38M | 142.52M | 140.35M |
| EPS (Basic) | -0.41 | -0.39 | -1.08 | -1.56 | -1.40 | -1.48 |
| EPS (Diluted) | -0.41 | -0.39 | -1.08 | -1.56 | -1.40 | -1.48 |
| Free Cash Flow | -24.03M | -48.95M | -98.88M | -167.02M | -200.29M | -254.47M |
| Free Cash Flow Per Share | -0.15 | -0.32 | -0.67 | -1.16 | -1.41 | -1.81 |
| Gross Margin | 46.94% | 40.38% | 2.19% | -16.09% | -7.75% | -24.17% |
| Operating Margin | -12.16% | -20.62% | -86.80% | -118.40% | -108.03% | -135.39% |
| Profit Margin | -20.73% | -21.48% | -89.12% | -132.28% | -108.03% | -134.30% |
| Free Cash Flow Margin | -7.80% | -17.67% | -55.25% | -98.09% | -108.09% | -164.87% |
| EBITDA | -21.33M | -39.29M | -136.09M | -179.38M | -179.27M | -195.01M |
| EBITDA Margin | -6.92% | -14.19% | -76.05% | -105.34% | -96.74% | -126.35% |
| D&A For EBITDA | 16.13M | 17.83M | 19.26M | 22.23M | 20.92M | 13.95M |
| EBIT | -37.46M | -57.12M | -155.34M | -201.61M | -200.19M | -208.97M |
| EBIT Margin | -12.16% | -20.62% | -86.80% | -118.40% | -108.03% | -135.39% |
| Advertising Expenses | 4.10M | 6.10M | 8.60M | 13.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 169.87M | 70.50M | 47.92M | 65.06M | 90.03M | 139.06M |
| Short-Term Investments | 174.38M | 156.49M | 174.37M | 281.34M | 408.17M | 214.00M |
| Cash & Short-Term Investments | 344.25M | 226.98M | 222.29M | 346.40M | 498.20M | 353.06M |
| Accounts Receivable | 49.51M | 50.37M | 41.73M | 37.97M | 40.06M | 17.41M |
| Other Receivables | 1.80M | 1.50M | 1.30M | 1.00M | 800.00K | 1.40M |
| Receivables | 51.31M | 51.87M | 43.03M | 38.97M | 40.86M | 18.81M |
| Inventory | 10.50M | 9.82M | 8.44M | 14.45M | 14.45M | 19.26M |
| Prepaid Expenses | 14.50M | 11.52M | 9.99M | 10.37M | 8.64M | 11.62M |
| Total Current Assets | 420.56M | 300.19M | 283.75M | 410.19M | 562.15M | 402.75M |
| Property, Plant & Equipment | 68.57M | 74.72M | 94.38M | 120.32M | 164.21M | 172.94M |
| Long-Term Investments | 27.48M | 13.23M | 33.66M | 217.15M | ||
| Goodwill | 118.97M | 118.97M | 118.97M | 118.97M | 118.97M | 118.97M |
| Other Intangible Assets | 884.00K | 1.73M | 3.42M | 5.13M | 6.83M | 8.53M |
| Other Long-Term Assets | 4.21M | 3.90M | 5.18M | 6.52M | 4.46M | 3.01M |
| Total Assets | 640.68M | 512.74M | 539.38M | 661.13M | 856.62M | 923.34M |
| Accounts Payable | 5.24M | 6.47M | 7.26M | 7.72M | 8.08M | 3.31M |
| Accrued Expenses | 20.39M | 22.72M | 20.67M | 20.39M | 24.10M | 22.20M |
| Current Portion of Long-Term Debt | 4.64M | 865.00K | ||||
| Current Portion of Leases | 8.82M | 8.92M | 10.24M | 9.38M | 9.23M | 5.05M |
| Current Income Taxes Payable | 541.00K | 176.00K | 59.00K | 194.00K | 391.00K | |
| Current Unearned Revenue | 53.26M | 45.19M | 55.69M | 48.63M | 64.11M | 80.46M |
| Other Current Liabilities | 1.43M | 3.15M | 1.84M | 4.07M | 2.39M | |
| Total Current Liabilities | 87.71M | 89.92M | 98.05M | 88.02M | 109.79M | 113.81M |
| Long-Term Debt | 334.88M | 126.57M | 132.41M | 130.66M | 125.36M | |
| Long-Term Leases | 66.80M | 70.23M | 79.15M | 89.39M | 98.77M | 106.69M |
| Long-Term Unearned Revenue | 608.00K | 1.01M | 27.26M | 44.79M | 58.60M | 98.75M |
| Other Long-Term Liabilities | 20.00K | 20.00K | 20.00K | |||
| Total Liabilities | 490.02M | 287.74M | 336.89M | 352.86M | 392.52M | 319.24M |
| Common Stock | 16.00K | 15.00K | 14.00K | 14.00K | 14.00K | 14.00K |
| Additional Paid-In Capital | 1.57B | 1.58B | 1.51B | 1.45B | 1.39B | 1.32B |
| Retained Earnings | -1.42B | -1.36B | -1.30B | -1.14B | -919.08M | -718.89M |
| Comprehensive Income & Other | -212.00K | 253.00K | 166.00K | 215.00K | -4.12M | -1.14M |
| Total Common Equity | 142.91M | 218.79M | 202.71M | 308.40M | 464.17M | 603.99M |
| Minority Interest | 7.75M | 6.21M | -224.00K | -121.00K | -67.00K | 110.00K |
| Shareholders' Equity | 150.66M | 225.00M | 202.49M | 308.28M | 464.10M | 604.10M |
| Total Liabilities & Equity | 640.68M | 512.74M | 539.38M | 661.13M | 856.62M | 923.34M |
| Total Debt | 410.50M | 210.36M | 222.67M | 229.43M | 233.36M | 111.74M |
| Net Cash (Debt) | -38.76M | 29.86M | 33.29M | 116.97M | 264.83M | 458.47M |
| Net Cash Per Share | -0.25 | 0.20 | 0.23 | 0.81 | 1.86 | 3.27 |
| Filing Date Shares Outstanding | 159.60M | 153.98M | 148.58M | 145.09M | 143.23M | 141.58M |
| Total Common Shares Outstanding | 159.06M | 153.78M | 147.77M | 145.08M | 143.11M | 141.39M |
| Working Capital | 332.85M | 210.27M | 185.70M | 322.17M | 452.36M | 288.94M |
| Book Value Per Share | 0.90 | 1.42 | 1.37 | 2.13 | 3.24 | 4.27 |
| Tangible Book Value | 23.06M | 98.09M | 80.31M | 184.30M | 338.37M | 476.49M |
| Tangible Book Value Per Share | 0.14 | 0.64 | 0.54 | 1.27 | 2.36 | 3.37 |
| Machinery | 54.39M | 59.33M | 61.36M | 56.70M | 48.88M | |
| Construction In Progress | 1.10M | 2.57M | 3.40M | 7.62M | 5.66M | |
| Leasehold Improvements | 73.11M | 73.28M | 74.73M | 72.40M | 65.96M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -63.85M | -59.50M | -159.49M | -225.25M | -200.19M | -207.28M |
| Depreciation & Amortization | 16.13M | 17.83M | 19.26M | 22.23M | 20.92M | 13.95M |
| Asset Writedown & Restructuring Costs | 347.00K | 7.21M | 25.43M | |||
| Loss (Gain) From Sale of Investments | -1.05M | -2.51M | -8.21M | -9.18M | 741.00K | 7.23M |
| Stock-Based Compensation | 49.02M | 51.48M | 53.61M | 62.91M | 55.48M | 43.25M |
| Other Operating Activities | 20.79M | 4.48M | 9.87M | 13.72M | 10.65M | 6.93M |
| Change in Accounts Receivable | -5.23M | -8.65M | -3.74M | 2.03M | -22.65M | -7.36M |
| Change in Inventory | -2.11M | -998.00K | 5.37M | -2.84M | 817.00K | -5.20M |
| Change in Accounts Payable | 559.00K | 665.00K | 671.00K | -5.41M | 7.11M | 3.94M |
| Change in Unearned Revenue | -21.47M | -36.74M | -10.48M | -29.29M | -56.50M | -57.73M |
| Change in Other Net Operating Assets | -14.14M | -12.04M | -9.28M | -10.68M | -330.00K | 9.53M |
| Operating Cash Flow | -21.01M | -45.99M | -95.21M | -156.32M | -183.94M | -192.73M |
| Capital Expenditures | -3.02M | -2.96M | -3.66M | -10.70M | -16.35M | -61.75M |
| Investment in Securities | -22.28M | 40.91M | 81.46M | 140.34M | 19.25M | 242.96M |
| Investing Cash Flow | -25.30M | 37.95M | 77.79M | 129.65M | 2.90M | 181.21M |
| Issuance of Common Stock | 36.22M | 30.40M | 241.00K | 2.25M | 7.89M | 26.72M |
| Other Financing Activities | -25.60M | 124.38M | 429.00K | |||
| Financing Cash Flow | 173.03M | 30.40M | 241.00K | 2.25M | 132.26M | 27.15M |
| Net Cash Flow | 126.72M | 22.37M | -17.18M | -24.43M | -48.77M | 15.63M |
| Free Cash Flow | -24.03M | -48.95M | -98.88M | -167.02M | -200.29M | -254.47M |
| Free Cash Flow Margin | -7.80% | -17.67% | -55.25% | -98.09% | -108.09% | -164.87% |
| Free Cash Flow Per Share | -0.15 | -0.32 | -0.67 | -1.16 | -1.41 | -1.81 |
| Levered Free Cash Flow | 18.98M | 950.88K | -24.48M | -81.95M | -90.17M | -139.10M |
| Unlevered Free Cash Flow | 26.17M | 8.31M | -17.24M | -73.33M | -87.53M | -139.10M |
| Cash Interest Paid | 23.60M | 12.64M | 8.86M | 8.98M | 494.00K | |
| Change in Working Capital | -42.39M | -57.77M | -17.45M | -46.18M | -71.55M | -56.82M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.25B | 2.48B | 884.74M | 709.39M | 1.09B | 3.96B |
| Enterprise Value | 4.29B | 2.48B | 841.87M | 569.39M | 798.41M | 3.44B |
| Last Close Price | 26.64 | 16.24 | 6.00 | 4.90 | 7.64 | 28.06 |
| PS Ratio | 13.80 | 8.95 | 4.94 | 4.17 | 5.90 | 25.66 |
| PB Ratio | 29.65 | 11.02 | 4.37 | 2.30 | 2.35 | 6.55 |
| P/TBV Ratio | 184.39 | 25.27 | 11.02 | 3.85 | 3.23 | 8.31 |
| EV/Sales Ratio | 13.93 | 8.94 | 4.70 | 3.34 | 4.31 | 22.29 |
| Debt / Equity Ratio | 2.73 | 0.94 | 1.10 | 0.74 | 0.50 | 0.18 |
| Net Debt / Equity Ratio | 0.26 | -0.13 | -0.16 | -0.38 | -0.57 | -0.76 |
| Net Debt / EBITDA Ratio | -1.82 | 0.76 | 0.24 | 0.65 | 1.48 | 2.35 |
| Net Debt / FCF Ratio | -1.61 | 0.61 | 0.34 | 0.70 | 1.32 | 1.80 |
| Asset Turnover | 0.54 | 0.53 | 0.30 | 0.22 | 0.21 | 0.15 |
| Inventory Turnover | 17.30 | 18.09 | 15.29 | 13.68 | 11.84 | 11.50 |
| Quick Ratio | 4.51 | 3.10 | 2.71 | 4.38 | 4.91 | 3.27 |
| Current Ratio | 4.79 | 3.34 | 2.89 | 4.66 | 5.12 | 3.54 |
| Return on Equity (ROE) | -38.76% | -27.82% | -62.49% | -58.34% | -37.52% | -30.77% |
| Return on Assets (ROA) | -4.12% | -6.79% | -16.18% | -16.60% | -14.06% | -12.81% |
| Return on Capital Employed (ROCE) | -6.80% | -13.50% | -35.20% | -35.20% | -26.80% | -25.80% |
| Earnings Yield | -1.54% | -2.40% | -18.03% | -31.75% | -18.32% | -5.23% |
| FCF Yield | -0.57% | -1.97% | -11.18% | -23.54% | -18.33% | -6.43% |
| Buyback Yield / Dilution | -4.11% | -3.14% | -1.88% | -1.31% | -1.54% | -6.96% |