Adaptive Biotechnologies Corporation is a commercial-stage company that develops an immune medicine platform to read and translate the genetic code of the adaptive immune system. Headquartered in Seattle, Washington, the company provides clinical diagnostics and life sciences research tools. Its proprietary technology combines chemistry, computational biology, and machine learning to decode immune system data for the diagnosis and treatment of diseases.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
276,976
178,957
170,276
185,308
Cost of Sales
71,359
72,080
75,553
57,909
Gross Profit
205,617
106,877
94,723
127,399
Selling, General & Administrative Expenses
167,272
157,565
172,513
184,130
Depreciation & Amortization Expenses
1,699
1,703
1,699
1,699
Research & Development Expenses
93,769
102,953
122,117
141,756
Other Operating Expenses
—
7,205
25,429
—
Operating Profit
(57,123)
(162,549)
(227,035)
(200,186)
Interest Expense
(11,778)
(11,580)
(13,800)
(4,238)
Non-Operating Income
9,444
14,534
15,531
4,056
Total Non-Operating Income
(2,334)
2,954
1,731
(182)
Income Before Provision for Income Taxes
(59,457)
(159,595)
(225,304)
(200,368)
Consolidated Net Income
(59,457)
(159,595)
(225,304)
(200,368)
Net Income Attributable to Minority Interests and Other
42
(103)
(54)
(177)
Net Income Attributable to Common Shareholders
(59,499)
(159,492)
(225,250)
(200,191)
Basic EPS
-0.39
-1.08
-1.56
-1.40
Diluted EPS
-0.39
-1.08
-1.56
-1.40
Basic Weighted Average Shares Outstanding
151,722
147,102
144,383
142,516
Diluted Weighted Average Shares Outstanding
151,722
147,102
144,383
142,516
Shares Outstanding
153,779
147,774
145,082
143,105
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
70,495
47,920
65,064
90,030
Short-Term Investments
156,485
174,374
281,337
408,166
Total Cash and Cash Equivalents
226,980
222,294
346,401
498,196
Accounts Receivable
50,365
41,731
37,969
40,057
Total Trade Receivables
50,365
41,731
37,969
40,057
Inventories
9,820
8,440
14,448
14,453
Other Current Assets
13,020
11,287
11,370
9,440
Total Current Assets
300,185
283,752
410,188
562,146
Net Property, Plant & Equipment
74,723
94,383
120,323
164,210
Net Intangible Assets
1,726
3,425
5,128
6,827
Goodwill
118,972
118,972
118,972
118,972
Long-Term Investments
13,234
33,660
—
—
Other Long-Term Assets
3,896
5,184
6,523
4,462
Total Assets
512,736
539,376
661,134
856,617
Accounts Payable
6,467
7,265
7,719
8,084
Accrued Expenses
24,692
23,995
22,282
28,359
Current Portion of Leases
8,920
10,239
9,384
9,230
Unearned Revenue
45,194
55,689
48,630
64,115
Other Current Liabilities
4,642
865
—
—
Total Current Liabilities
89,915
98,053
88,015
109,788
Leases
70,228
79,148
89,388
98,772
Other Long-Term Liabilities
127,572
159,670
175,453
183,959
Total Long-Term Liabilities
197,800
238,818
264,841
282,731
Total Liabilities
287,735
336,891
352,856
392,519
Common Stock
15
14
14
14
Additional Paid-in Capital
1,581,848
1,506,353
1,452,502
1,387,349
Accumulated Other Comprehensive Income
253
166
215
(4,116)
Retained Earnings
(1,363,323)
(1,303,824)
(1,144,332)
(919,082)
Total Common Shareholders' Equity
218,793
202,709
308,399
464,165
Minority Interests and Other
6,208
(224)
(121)
(67)
Total Shareholders' Equity
225,001
202,485
308,278
464,098
Total Liabilities and Shareholders' Equity
512,736
539,376
661,134
856,617
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(59,457)
(159,595)
(225,304)
(200,368)
Depreciation & Amortization
17,833
19,256
22,231
20,920
Share-Based Compensation Expense
51,483
53,610
62,908
55,477
Other Adjustments
1,922
8,971
30,024
11,572
Changes in Trade Receivables
(8,646)
(3,744)
2,032
(22,648)
Changes in Inventories
(998)
5,372
(2,838)
817
Changes in Accounts Payable
665
671
(5,407)
7,111
Changes in Unearned Revenue
(36,745)
(10,478)
(29,291)
(56,496)
Changes in Other Operating Activities
(12,043)
(9,275)
(10,679)
(330)
Cash from Operating Activities
(45,986)
(95,212)
(156,324)
(183,945)
Capital Expenditure
(2,959)
(3,664)
(10,697)
(16,349)
Purchases of Investments
(181,714)
(244,257)
(429,558)
(278,778)
Proceeds from Sale of Investments
222,623
325,713
569,902
298,032
Cash from Investing Activities
37,950
77,792
129,647
2,905
Issuance of Common Shares
17,879
241
2,245
7,890
Net Issuance / (Repurchases) of Common Shares
17,879
241
2,245
7,890
Other Financing Activities
12,524
—
—
124,375
Cash from Financing Activities
30,403
241
2,245
132,265
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash