Adaptive Biotechnologies Corp ADPT
Throughout our history, we have advanced the field of immune medicine by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature's most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our immune medicine platform applies our proprietary technologies to read the diverse genetic code of a patient's immune system and understand precisely how the immune system detects and treats disease in that patient. We capture these insights in our dynamic clinical immunomics database and related antigen annotations, which are underpinned by computational biology and machine learning, and use them to develop and commercialize clinical products and services that can be tailored to the needs of individual patients.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $277.0M | $179.0M | $170.3M | $185.3M | $154.3M | $98.4M | $85.1M | $55.7M | $38.4M | — |
| Cost of revenue | $71.4M | $72.1M | $75.6M | $57.9M | $49.3M | $22.5M | $22.3M | $19.7M | $15.7M | — |
| Gross profit | $205.6M | $106.9M | $94.7M | $127.4M | $105.0M | $75.9M | $62.8M | $36.0M | $22.8M | — |
| R&D | $93.8M | $103.0M | $122.1M | $141.8M | $142.3M | $116.1M | $70.7M | $39.2M | $32.0M | — |
| SG&A | $72.7M | $72.8M | $83.9M | $88.5M | $74.5M | $49.5M | $30.3M | $20.4M | $15.9M | — |
| Total operating expenses | $334.1M | $341.5M | $397.3M | $385.5M | $363.3M | $251.2M | $163.5M | $105.4M | $82.9M | — |
| Operating income | -$57.1M | -$162.5M | -$227.0M | -$200.2M | -$209.0M | -$152.8M | -$78.4M | -$49.8M | -$44.5M | — |
| Interest expense | $11.8M | $11.6M | $13.8M | $4.2M | — | — | — | — | — | — |
| Pre-tax income | -$59.5M | -$159.6M | -$225.3M | -$200.4M | -$207.3M | -$146.2M | -$68.6M | — | — | — |
| Income tax | $0 | $0 | $0 | — | — | — | — | — | — | — |
| Net income | -$59.5M | -$159.6M | -$225.3M | -$200.4M | -$207.3M | -$146.2M | -$68.6M | -$46.4M | -$42.8M | — |
| EPS, basic | -0.39 | -1.08 | -1.56 | -1.40 | -1.48 | -1.11 | — | — | — | — |
| EPS, diluted | -0.39 | -1.08 | -1.56 | -1.40 | -1.48 | -1.11 | -1.01 | -3.67 | -3.50 | — |
| Shares, diluted (wtd. avg.) | 151.7M | 147.1M | 144.4M | 142.5M | 140.4M | 131.2M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $70.5M | $47.9M | $65.1M | $90.0M | $139.1M | $123.4M | $96.6M | $55.0M | — | — |
| Short-term investments | $156.5M | $174.4M | $281.3M | $408.2M | $214.0M | $564.8M | $480.3M | $110.0M | — | — |
| Receivables | $50.4M | $41.7M | $38.0M | $40.1M | $17.4M | $10.0M | $12.7M | $4.8M | — | — |
| Inventory | $9.8M | $8.4M | $14.4M | $14.5M | $19.3M | $14.1M | $9.1M | $7.8M | — | — |
| Total current assets | $300.2M | $283.8M | $410.2M | $562.1M | $402.7M | $726.9M | $612.7M | $180.7M | — | — |
| Property, plant and equipment | $34.1M | $48.6M | $68.2M | $83.4M | $85.3M | $39.7M | $60.4M | $19.1M | — | — |
| Goodwill | $119.0M | $119.0M | $119.0M | $119.0M | $119.0M | $119.0M | $119.0M | $119.0M | — | — |
| Other intangibles | $1.7M | $3.4M | $5.1M | $6.8M | $8.5M | $10.2M | $11.9M | $13.6M | — | — |
| Total assets | $512.7M | $539.4M | $661.1M | $856.6M | $923.3M | $1.12B | $912.3M | $332.7M | — | — |
| Accounts payable | $6.5M | $7.3M | $7.7M | $8.1M | $3.3M | $3.2M | $4.5M | $1.8M | — | — |
| Short-term debt | $4.6M | $865.0K | — | — | — | — | — | — | — | — |
| Total current liabilities | $89.9M | $98.1M | $88.0M | $109.8M | $113.8M | $105.2M | $78.3M | $22.8M | — | — |
| Long-term debt | $126.6M | $132.4M | $130.7M | $125.4M | — | — | — | — | — | — |
| Total liabilities | $287.7M | $336.9M | $352.9M | $392.5M | $319.2M | $373.1M | $341.3M | $29.9M | — | — |
| Retained earnings | -$1.36B | -$1.30B | -$1.14B | -$919.1M | -$718.9M | -$511.6M | -$365.5M | -$295.9M | — | — |
| Total equity | $218.8M | $202.7M | $308.3M | $464.1M | $604.1M | $743.3M | $571.0M | -$258.1M | -$224.6M | -$189.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$46.0M | -$95.2M | -$156.3M | -$183.9M | -$192.7M | -$149.7M | $205.4M | -$32.3M | -$34.9M | — |
| Depreciation and amortisation | $16.1M | $17.6M | $20.5M | $19.2M | $12.3M | $6.8M | $6.1M | $4.3M | $4.1M | — |
| Stock-based compensation | $51.5M | $53.6M | $62.9M | $55.5M | $43.3M | $24.8M | $13.1M | $11.1M | $7.0M | — |
| Capital expenditure | $3.0M | $3.7M | $10.7M | $16.3M | $61.7M | $18.8M | $11.2M | $6.3M | $2.4M | — |
| Investing cash flow | $38.0M | $77.8M | $129.6M | $2.9M | $181.2M | -$117.0M | -$481.7M | $736.0K | $36.4M | — |
| Financing cash flow | $30.4M | $241.0K | $2.2M | $132.3M | $27.1M | $293.6M | $319.9M | $1.2M | $50.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-177409.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $38.4M | $55.7M | $85.1M | $98.4M | $154.3M | $185.3M | $170.3M | $179.0M | $277.0M |
| Gross profit | — | $22.8M | $36.0M | $62.8M | $75.9M | $105.0M | $127.4M | $94.7M | $106.9M | $205.6M |
| Net income | — | -$42.8M | -$46.4M | -$68.6M | -$146.2M | -$207.3M | -$200.4M | -$225.3M | -$159.6M | -$59.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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