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Adaptive Biotechnologies ADPT Service — Revenue

Other product segments

Regulatory Milestone Revenue
$9M+100%
Service And Licensing Revenue
$3.78M
Collaboration Revenue
$0-100%

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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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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, 2026Three Months Ended March 31, 2025
MRD revenue
Service revenue$58,093$39,221
Regulatory milestone revenue9,0004,500
Total MRD revenue67,09343,721
Immune Medicine revenue
Service and licensing revenue3,7815,122
Collaboration revenue(1)3,600
Total Immune Medicine revenue3,7818,722

Item 1. Financial Statements (Unaudited)

FAQ

What is Adaptive Biotechnologies's service — revenue?
Adaptive Biotechnologies (ADPT) reported service — revenue of $58.09M in Q1 2026.
How has Adaptive Biotechnologies's service — revenue changed year-over-year?
Adaptive Biotechnologies's service — revenue increased by 48.1% year-over-year, from $39.22M to $58.09M.
What is the long-term trend for Adaptive Biotechnologies's service — revenue?
Over 4 years (2021 to 2025), Adaptive Biotechnologies's service — revenue has grown at a 36.1% compound annual growth rate (CAGR), from $56.21M to $192.83M.
What does service — revenue mean?
This metric represents the total gross revenue generated from the company's service-based offerings, specifically excluding any assessed taxes collected from customers. It serves as a primary indicator of the commercial adoption and market demand for the company's clinical diagnostic and immune-monitoring services. Growth in this figure reflects the successful scaling of service-based business models and the ongoing utilization of proprietary diagnostic platforms by healthcare providers and research partners.

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