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Adaptive Biotechnologies ADPT Q3 2025 earnings

Reported November 5, 2025 · After market close

Revenue$94.0MBeat by $34.6M
EPS-$0.15Beat by $0.01
Revenue estimate$59.4M
EPS estimate-$0.16

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$71.6M
EPS estimate-$0.10

Financials

Q3 2025

Income statement

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Revenue$94.0M+102%
Gross profit$75.8M+155%
Operating income$10.3M+132%
Net income$9.5M+130%
EPS (diluted)$0.06+127%

Balance sheet

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Cash & equivalents$55.0M+44.5%
Total debt$213.6M-4.8%
Total equity$204.4M-8.6%
Total assets$490.6M-12.2%

Cash flow

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Operating cash flow-$7.1M+73.7%
CapEx$409.0K+18.9%
Free cash flow-$7.5M+72.5%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$2.28B+202%
Enterprise value$2.44B+159%
P/S9×+4.8×

Profitability

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Gross margin71.8%+13.4pp
Operating margin-30.9%-13.0pp
Net margin-31.5%-13.1pp
FCF margin-24.9%-9.5pp

Returns & leverage

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Return on equity-37.2%-11.4pp
Debt / equity1×0.0×
Current ratio3.4×-0.1×

Segments

By product

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Service$50.3M+54.9%
Collaboration Revenue$33.7M+861%
Regulatory Milestone Revenue$6.5M+30.0%

By segment

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Mrd Business$56.8M+51.6%
Immune Medicine Business$37.2M+315%

FAQ

When did Adaptive Biotechnologies report Q3 2025 earnings?
Adaptive Biotechnologies (ADPT) reported Q3 2025 earnings on November 5, 2025 after market close.
What were Adaptive Biotechnologies's Q3 2025 revenue and EPS?
Adaptive Biotechnologies reported revenue of $94.0M and eps of $-0.15 for Q3 2025.
Did Adaptive Biotechnologies beat estimates in Q3 2025?
Revenue beat the consensus estimate of $59.4M by $34.6M. EPS beat the consensus estimate of $-0.16 by $0.01.
How did Adaptive Biotechnologies's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 102.4% from $46.4M a year earlier and eps grew 31.8% from $-0.22.
Where can I find Adaptive Biotechnologies's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-266974) and the 10-Q periodic report (0001193125-25-267061) directly on SEC EDGAR. The filing index links above go to sec.gov.