ADPT on Nasdaq
Adaptive Biotechnologies
Company in Seattle, United States.1
Price unavailable
Last updated Oct 16, 2026.
Overview
2009Founded1
Compare with Vericel, Iovance Biotherapeutics or Vaxart, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-20.6%Operating margin4
-21.5%Net margin4
54.8%Revenue growth, 20254
-27.2%Return on equity4
0.58×Debt to equity4
-$48.9MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
MRD Business brought in 77% of the revenue Adaptive Biotechnologies broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| MRD Business | $102.7M | $145.5M | $212.3M |
| Immune Medicine Business | $67.5M | $33.4M | $64.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue26¢$71.4M
- Research and development34¢$93.8M
- Other costs36¢$100.1M
- Interest4¢$11.8M
Out of $277.0M in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $277.0M | $179.0M | $170.3M |
| Cost of revenue | $71.4M | $72.1M | $75.6M |
| Research and development | $93.8M | $103.0M | $122.1M |
| Sales and marketing | $94.6M | $84.8M | $88.6M |
| General and administrative | $72.7M | $72.8M | $83.9M |
| Amortization of intangible assets | $1.7M | $1.7M | $1.7M |
| Impairment of long-lived assets | $0 | $7.2M | $25.4M |
| Total operating expenses | $334.1M | $341.5M | $397.3M |
| Loss from operations | -$57.1M | -$162.5M | -$227.0M |
| Interest and other income, net | $9.4M | $14.5M | $15.5M |
| Interest expense | -$11.8M | -$11.6M | -$13.8M |
| Net loss | -$59.5M | -$159.6M | -$225.3M |
| Add: Net (income) loss attributable to noncontrolling interest | -$42.0K | $103.0K | $54.0K |
| Net loss attributable to Adaptive Biotechnologies Corporation | -$59.5M | -$159.5M | -$225.2M |
| Net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, basic | -$0.39 | -$1.08 | -$1.56 |
| Net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, diluted | -$0.39 | -$1.08 | -$1.56 |
| Weighted-average shares used in computing net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, basic | 151.7M shares | 147.1M shares | 144.4M shares |
| Weighted-average shares used in computing net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, diluted | 151.7M shares | 147.1M shares | 144.4M shares |
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $70.5M | $47.9M | |
| Short-term marketable securities (amortized cost of $156,246 and $174,186, respectively) | $156.5M | $174.4M | |
| Accounts receivable, net | $50.4M | $41.7M | |
| Inventory | $9.8M | $8.4M | |
| Prepaid expenses and other current assets | $13.0M | $11.3M | |
| Total current assets | $300.2M | $283.8M | |
| Property and equipment, net | $34.1M | $48.6M | |
| Operating lease right-of-use assets | $40.6M | $45.8M | |
| Long-term marketable securities (amortized cost of $13,220 and $33,682, respectively) | $13.2M | $33.7M | |
| Restricted cash | $2.7M | $2.9M | |
| Intangible assets, net | $1.7M | $3.4M | |
| Goodwill | $119.0M | $119.0M | |
| Other assets | $1.2M | $2.3M | |
| Total assets | $512.7M | $539.4M | |
| Accounts payable | $6.5M | $7.3M | |
| Accrued liabilities | $7.7M | $8.2M | |
| Accrued compensation and benefits | $17.0M | $15.8M | |
| Current portion of operating lease liabilities | $8.9M | $10.2M | |
| Current portion of deferred revenue | $45.2M | $55.7M | |
| Current portion of revenue interest liability, net | $4.6M | $865.0K | |
| Total current liabilities | $89.9M | $98.1M | |
| Operating lease liabilities, less current portion | $70.2M | $79.1M | |
| Deferred revenue, less current portion | $1.0M | $27.3M | |
| Revenue interest liability, net, less current portion | $126.6M | $132.4M | |
| Other long-term liabilities | $20.0K | $20.0K | |
| Total liabilities | $287.7M | $336.9M | |
| Common stock: $0.0001 par value, 340,000,000 shares authorized at December 31, 2025 and 2024; 153,779,418 and 147,773,744 shares issued and outstanding at December 31, 2025 and 2024, respectively | $15.0K | $14.0K | |
| Additional paid-in capital | $1.6B | $1.5B | |
| Accumulated other comprehensive gain | $253.0K | $166.0K | |
| Accumulated deficit | -$1.4B | -$1.3B | |
| Total Adaptive Biotechnologies Corporation shareholders equity | $218.8M | $202.7M | |
| Noncontrolling interest | $6.2M | -$224.0K | |
| Total shareholders equity | $225.0M | $202.5M | $308.3M |
| Total liabilities and shareholders equity | $512.7M | $539.4M | |
| Amortized cost of short-term marketable securities | $156.2M | $174.2M | |
| Amortized cost of long-term marketable securities | $13.2M | $33.7M | |
| Preferred stock par value | $0.00 | $0.00 | |
| Preferred stock authorized | 10.0M shares | 10.0M shares | |
| Preferred stock issued | 0 shares | 0 shares | |
| Preferred stock outstanding | 0 shares | 0 shares | |
| Common stock par value | $0.00 | $0.00 | |
| Common stock authorized | 340.0M shares | 340.0M shares | |
| Common stock issued | 153.8M shares | 147.8M shares | |
| Common stock outstanding | 153.8M shares | 147.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$59.5M | -$159.6M | -$225.3M |
| Depreciation expense | $16.1M | $17.6M | $20.5M |
| Noncash lease expense | $5.4M | $5.3M | $6.9M |
| Share-based compensation expense | $51.5M | $53.6M | $62.9M |
| Intangible assets amortization | $1.7M | $1.7M | $1.7M |
| Investment amortization | -$2.5M | -$8.2M | -$9.2M |
| Impairment of long-lived assets | $0 | $7.2M | $25.4M |
| Write-off of inventory | $563.0K | $1.9M | $1.4M |
| Revenue interest purchase agreement interest | -$2.1M | $2.6M | $5.3M |
| Other | $578.0K | $141.0K | $172.0K |
| Accounts receivable, net | -$8.6M | -$3.7M | $2.0M |
| Inventory | -$998.0K | $5.4M | -$2.8M |
| Prepaid expenses and other current assets | -$1.7M | $83.0K | -$1.9M |
| Accounts payable and accrued liabilities | $665.0K | $671.0K | -$5.4M |
| Operating lease right-of-use assets and liabilities | -$10.5M | -$9.4M | -$8.7M |
| Deferred revenue | -$36.7M | -$10.5M | -$29.3M |
| Other | $142.0K | $27.0K | -$73.0K |
| Net cash used in operating activities | -$46.0M | -$95.2M | -$156.3M |
| Purchases of property and equipment | -$3.0M | -$3.7M | -$10.7M |
| Purchases of marketable securities | -$181.7M | -$244.3M | -$429.6M |
| Proceeds from maturities of marketable securities | $222.6M | $325.7M | $569.9M |
| Net cash provided by investing activities | $38.0M | $77.8M | $129.6M |
| Proceeds from exercise of stock options | $17.9M | $241.0K | $2.2M |
| Proceeds from capital contributions for Digital Biotechnologies, Inc. | $12.5M | $0 | $0 |
| Cash provided by financing activities | $30.4M | $241.0K | $2.2M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $22.4M | -$17.2M | -$24.4M |
| Purchases of equipment included in accounts payable and accrued liabilities | $509.0K | $1.3M | $687.0K |
| Cash paid for interest | $12.6M | $8.9M | $9.0M |
Former names
- Adaptive TCR CorpDec 28, 2009 to Jun 2, 20113
Timeline
Recent filings
- Oct 13, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Oct 8, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Oct 8, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Oct 6, 2026144
- Oct 5, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Oct 5, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Oct 1, 2026144
- Sep 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Sep 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Sep 16, 2026144
- Sep 15, 2026144
- Sep 2, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 28, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 26, 2026144
- Aug 20, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.adaptivebiotech.com1
- WikidataQ30283420
- SEC EDGARCIK 1478320
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11