Adaptive Biotechnologies Corp (ADPT) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, Adaptive Biotechnologies reported revenue of $277.0M, up 54.8% from $179.0M the year before. Net income was -$59.5M (a -21.5% net margin), or -$0.39 per diluted share. Gross margin was 74.2% and operating margin was -20.6%. Operating activities generated -$46.0M of cash, leaving -$48.9M of free cash flow. At fiscal year end, Adaptive Biotechnologies held $512.7M in total assets against $287.7M in total liabilities, including $70.5M of cash and equivalents.
Open the full interactive Adaptive Biotechnologies financials → Quarterly statements, key ratios, valuation history and price charts.
Adaptive Biotechnologies Key Stats
| Share Price | $25.28 |
|---|---|
| Market Cap | $4.04B |
| Revenue YoY Growth | +54.8% |
| 52-Week Range | $12.41 – $29.84 |
| Shares Outstanding | 159.9 million (basic, 2026 Q2) |
Adaptive Biotechnologies Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $98.4M | $154.3M | $185.3M | $170.3M | $179.0M | $277.0M |
| Cost of Goods Sold | $22.5M | $49.3M | $57.9M | $75.6M | $72.1M | $71.4M |
| Gross Profit | $75.9M | $105.0M | $127.4M | $94.7M | $106.9M | $205.6M |
| Operating Income | -$152.8M | -$209.0M | -$200.2M | -$227.0M | -$162.5M | -$57.1M |
| Pre-Tax Income | -$146.2M | -$207.3M | -$200.4M | -$225.3M | -$159.6M | -$59.5M |
| Income Tax | — | -$19,000 | -$177,000 | -$54,000 | -$103,000 | $0 |
| Net Income | -$146.2M | -$207.3M | -$200.2M | -$225.2M | -$159.5M | -$59.5M |
| Diluted EPS | -$1.11 | -$1.48 | -$1.40 | -$1.56 | -$1.08 | -$0.39 |
Adaptive Biotechnologies Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $94.0M | $71.7M | $70.9M | $71.6M |
| Net Income | $9.5M | -$13.6M | -$20.0M | -$39.8M |
| Diluted EPS | $0.06 | -$0.09 | -$0.13 | -$0.25 |
Adaptive Biotechnologies Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $123.4M | $139.1M | $90.0M | $65.1M | $47.9M | $70.5M |
| Current Assets | $726.9M | $402.7M | $562.1M | $410.2M | $283.8M | $300.2M |
| Total Assets | $1.12B | $923.3M | $856.6M | $661.1M | $539.4M | $512.7M |
| Current Liabilities | $105.2M | $113.8M | $109.8M | $88.0M | $98.1M | $89.9M |
| Total Long-Term Debt | — | — | — | $130.7M | $133.3M | $131.2M |
| Total Liabilities | $373.1M | $319.2M | $392.5M | $352.9M | $336.9M | $287.7M |
| Shareholders' Equity | $743.3M | $604.0M | $464.2M | $308.4M | $202.7M | $218.8M |
Adaptive Biotechnologies Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$149.7M | -$192.7M | -$183.9M | -$156.3M | -$95.2M | -$46.0M |
| Cash From Investing | -$117.0M | $181.2M | $2.9M | $129.6M | $77.8M | $38.0M |
| Cash From Financing | $293.6M | $27.1M | $132.3M | $2.2M | $241,000 | $30.4M |
| Free Cash Flow | -$168.5M | -$254.5M | -$200.3M | -$167.0M | -$98.9M | -$48.9M |
Figures from Adaptive Biotechnologies' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Adaptive Biotechnologies financials page for every line item.
Adaptive Biotechnologies Company Profile
| Ticker | ADPT |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | Seattle, Washington |
| Incorporated in | Washington |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001478320 |
Frequently Asked Questions
What was Adaptive Biotechnologies' revenue in fiscal 2025?
Adaptive Biotechnologies (ADPT) reported revenue of $277.0M for fiscal 2025.
What is Adaptive Biotechnologies' annual revenue history?
Adaptive Biotechnologies' annual revenue by fiscal year: 2020: $98.4M; 2021: $154.3M; 2022: $185.3M; 2023: $170.3M; 2024: $179.0M; 2025: $277.0M.
What was Adaptive Biotechnologies' net income in fiscal 2025?
Adaptive Biotechnologies reported net income of -$59.5M for fiscal 2025.
What was Adaptive Biotechnologies' earnings per share (EPS) in fiscal 2025?
Adaptive Biotechnologies' diluted EPS was -$0.39 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Adaptive Biotechnologies generate in fiscal 2025?
Adaptive Biotechnologies generated -$48.9M of free cash flow in fiscal 2025.
What was Adaptive Biotechnologies' revenue last quarter?
In its most recent reported quarter (2026 Q2), Adaptive Biotechnologies reported revenue of $71.6M.
How much debt does Adaptive Biotechnologies have?
Adaptive Biotechnologies reported $131.2M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Adaptive Biotechnologies are outstanding?
Adaptive Biotechnologies reported a weighted average of 159.9 million basic shares outstanding in 2026 Q2.
What is Adaptive Biotechnologies' market cap?
Based on its latest closing price, Adaptive Biotechnologies (ADPT) has a market capitalization of about $4.04B.
When does Adaptive Biotechnologies' fiscal year end?
Adaptive Biotechnologies' fiscal year end, as registered with the SEC, is December 31.
Where is Adaptive Biotechnologies headquartered?
Adaptive Biotechnologies lists its business address in Seattle, Washington in its SEC filings.
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