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Adaptive Biotechnologies

ADPT

Adaptive Biotechnologies is a commercial-stage biotechnology company that decodes the adaptive immune system to transform disease diagnosis and treatment.

Market cap
$3.61B+127%
Revenue$295.4M+55.9%
Net income-$49.7M+65.0%
Free cash flow-$31.0M+65.1%
EPS (diluted)-$0.33+65.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Date not yet announced

Financials

Q1 2026

Income statement

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Revenue$70.9M+35.1%
Gross profit$52.2M+47.1%
Operating income-$19.2M+35.1%
Net income-$20.0M+32.9%
EPS (diluted)-$0.13+35.0%

Balance sheet

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Cash & equivalents$77.6M+53.2%
Total debt$208.2M-5.6%
Total equity$216.3M+13.6%
Total assets$505.9M-1.0%

Cash flow

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Operating cash flow-$9.5M+66.5%
CapEx$796.0K-36.8%
Free cash flow-$10.3M+65.3%

Valuation & ratios

Valuation

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Market cap$3.61B+127%
Enterprise value$3.74B+109%
P/S12.2×+4.4×

Profitability

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Gross margin75.3%+12.7pp
Operating margin-15.8%-7.0pp
Net margin-16.8%-7.3pp
FCF margin-10.5%-4.6pp

Returns & leverage

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Return on equity-24.4%-9.2pp
Debt / equity-0.2×
Current ratio3.4×+0.4×

Segments

By product

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Service$58.1M+48.1%
Regulatory Milestone Revenue$9.0M+100%
Service And Licensing Revenue$3.8M
Collaboration Revenue--100%

By segment

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Mrd Business$67.1M+53.5%
Immune Medicine Business$3.8M-56.6%

Competitors

Profile

Adaptive Biotechnologies is a commercial-stage biotechnology company that decodes the adaptive immune system to transform disease diagnosis and treatment. The company utilizes a proprietary immune medicine platform combining high-throughput sequencing, computational biology, and machine learning to translate complex immunomics data into clinical products and research services.

Competitive position

A leader in NGS-based immune repertoire sequencing with the first FDA-authorized MRD test for lymphoid malignancies.

GeographiesUnited States, Europe, Canada, Australia, Japan
Customer segmentsHealthcare providers, Pharmaceutical companies, Research institutions
Business modelDiagnostic services, Data licensing, Research as a service, B2B, B2C
SuppliersNext-generation sequencing instrument providers, Specialized chemical and reagent suppliers, Cloud computing and AI infrastructure, Blood and bone marrow sample collection sites
CustomersHospitals and cancer centers, Biopharmaceutical R&D divisions, Health insurance payors, Academic researchers
Listed2019
Employees709.0
CEOChad Robins
FilingsSEC EDGAR

Questions, answered.

What is Adaptive Biotechnologies's market cap?
Adaptive Biotechnologies (ADPT) has a market capitalization of $3.6B and trades on NASDAQ.
What is Adaptive Biotechnologies's revenue and profitability?
Adaptive Biotechnologies generated $295.4M in trailing twelve-month revenue with a net loss of $49.7M, representing a net margin of -16.8%. Gross margin stands at 75.3%, with free cash flow of -$31.0M. These figures are based on the Q1 2026 filing.
Who are Adaptive Biotechnologies's competitors?
Adaptive Biotechnologies's key competitors include Natera, Inc., Guardant Health, Inc., Rezolute, Inc. Common Stock (NV), and others. These companies compete in similar markets and product categories.
Who does Adaptive Biotechnologies partner with?
Adaptive Biotechnologies's notable partners include Pfizer Inc., Epic Systems Corporation, Flatiron Health, Inc., and others.
What subsidiaries does Adaptive Biotechnologies have?
Adaptive Biotechnologies's subsidiaries include Sequenta, Inc., Digital Biotechnologies, Inc., Imdaptive, Inc., and others.
Where is Adaptive Biotechnologies headquartered?
Adaptive Biotechnologies is headquartered in United States of America and employs approximately 709 people. It has been publicly traded since 2019.