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Adaptive Biotechnologies ADPT Mrd Business — Adjusted Ebitda

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Other financials

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

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Market cap$3.75B+111%
Enterprise value$3.88B+98.7%
P/S12.7×+4.0×

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×

Where this comes from

Reported directly by Adaptive Biotechnologies in its filing.

Tagged under the XBRL concept adpt:AdjustedEbitda.

The source filing: Adaptive Biotechnologies’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:30 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-206546
Line itemThree Months Ended March 31, 2026 / MRDThree Months Ended March 31, 2026 / Immune MedicineThree Months Ended March 31, 2026 / TotalThree Months Ended March 31, 2025 / MRDThree Months Ended March 31, 2025 / Immune Medicine(1)Three Months Ended March 31, 2025 / Total
Other segment items(2)5,7765,7765,1535,153
Add back:
Items to reconcile net income or net loss to Adjusted EBITDA(3)8,7765,56914,3458,1275,81313,940
Adjusted EBITDA(3)12,138(10,360)1,778(4,111)(5,106)(9,217)
Items to reconcile to consolidated net loss:
Share-based compensation expense(4)(9,969)(9,654)
Restructuring expense(5)(643)
Impairment of long-lived assets(5)(347)

Item 1. Financial Statements (Unaudited)

FAQ

What is Adaptive Biotechnologies's mrd business — adjusted ebitda?
Adaptive Biotechnologies (ADPT) reported mrd business — adjusted ebitda of $12.14M in Q1 2026.
How has Adaptive Biotechnologies's mrd business — adjusted ebitda changed year-over-year?
Adaptive Biotechnologies's mrd business — adjusted ebitda increased by 395.3% year-over-year, from -$4.11M to $12.14M.
What is the long-term trend for Adaptive Biotechnologies's mrd business — adjusted ebitda?
Over 3 years (2022 to 2025), Adaptive Biotechnologies's mrd business — adjusted ebitda has grown at a -36.9% compound annual growth rate (CAGR), from -$60.5M to $15.19M.
What does mrd business — adjusted ebitda mean?
This is a non-GAAP measure of the MRD business segment's operating performance, calculated by adding back non-cash and non-recurring expenses to the segment's operating income. It provides a clearer view of the segment's core cash-generating capability by excluding accounting distortions.

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