What are Adaptive Biotechnologies's profit margins?

Adaptive Biotechnologies (ADPT) runs a 75.3% gross margin and a -15.8% operating margin, with a -16.8% net margin.

Where do Adaptive Biotechnologies's ratios come from?

Every ratio is computed from Adaptive Biotechnologies's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Adaptive Biotechnologies ADPT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	75.3%+1.0pp	74.2%+2.4pp	71.8%+5.8pp	66%+3.5pp	62.5%+2.8pp
Operating margin	-15.8%+4.8pp	-20.6%+10.3pp	-30.9%+28.1pp	-59%+16.6pp	-75.7%+15.2pp
Net margin	-16.8%+4.7pp	-21.5%+10.0pp	-31.5%+27.6pp	-59.1%+15.8pp	-74.8%+14.3pp
EBITDA margin	-10.1%+4.1pp	-14.2%+9.6pp	-23.8%+26.3pp	-50.1%+15.6pp	-65.8%+14.3pp
Free cash flow margin	-10.5%+7.7pp	-18.2%+6.7pp	-24.9%+15.5pp	-40.4%+6.5pp	-46.8%+8.4pp
Returns
Return on equity	-24.4%+3.8pp	-28.2%+9.0pp	-37.2%+20.4pp	-57.5%+3.4pp	-61%+1.4pp
Return on assets	-9.8%+1.5pp	-11.3%+3.9pp	-15.2%+7.2pp	-22.4%+2.7pp	-25.1%+1.5pp
Return on invested capital	-13.2%+2.3pp	-15.5%+4.7pp	-20.2%+11.5pp	-31.8%+4.4pp	-36.2%+2.0pp
Efficiency
Asset turnover	0.6×+0.1×	0.5×0.0×	0.5×+0.1×	0.4×0.0×	0.3×0.0×
Inventory turnover	7.3×-0.5×	7.8×+1.3×	6.5×+0.1×	6.4×0.0×	6.5×+0.2×
Liquidity
Current ratio	3.4×0.0×	3.3×0.0×	3.4×+0.5×	2.8×-0.1×	2.9×0.0×
Quick ratio	3.2×0.0×	3.2×0.0×	3.3×+0.5×	2.8×-0.1×	2.8×0.0×
Cash ratio	0.9×+0.1×	0.8×+0.1×	0.7×+0.2×	0.5×-0.1×	0.6×+0.1×
Leverage
Debt-to-equity	1×0.0×	1×-0.1×	1×-0.2×	1.2×+0.1×	1.2×+0.1×
Debt-to-assets	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Interest coverage	-4×+0.9×	-4.9×+1.8×	-6.6×+3.7×	-10.3×+2.2×	-12.5×+1.6×
Per Share
Book value per share	$1.39-3.5%	$1.44+15.1%	$1.25+6.0%	$1.18-7.4%	$1.28-7.4%
Valuation
Market capitalization	$2.14B-13.8%	$2.48B+8.8%	$2.28B+40.8%	$1.62B+46.6%	$1.1B+24.8%
Enterprise value	$2.27B-13.4%	$2.62B+7.5%	$2.44B+35.9%	$1.79B+40.7%	$1.27B+20.2%
Price / sales	7.2×-1.7×	9×-0.1×	9×+1.1×	7.9×+2.1×	5.8×+0.9×
Price / book	9.9×-1.5×	11.3×+0.2×	11.1×+2.1×	9×+3.2×	5.8×+1.4×
EV / sales	7.7×-1.8×	9.5×-0.2×	9.6×+0.9×	8.7×+2.0×	6.7×+0.8×
Free cash flow yield	-1.4%+0.6pp	-2%+0.7pp	-2.8%+2.4pp	-5.1%+2.9pp	-8%+3.1pp
Earnings yield	-2.3%+0.1pp	-2.4%+1.1pp	-3.5%+4.0pp	-7.5%+5.4pp	-12.8%+5.2pp

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Questions, answered.

What are Adaptive Biotechnologies's profit margins?: Adaptive Biotechnologies (ADPT) runs a 75.3% gross margin and a -15.8% operating margin, with a -16.8% net margin.
Where do Adaptive Biotechnologies's ratios come from?: Every ratio is computed from Adaptive Biotechnologies's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.