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Adaptive Biotechnologies Corporation logo

Adaptive Biotechnologies Corporation

ADPT

NASDAQHealthcareBiotechnology

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$25.99

+$0.55 · +2.16%

Aug 21, 4:00 PM ET

ADPT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

76

Undervalued

Momentum

65

Gaining

Sentiment

53

Mixed

Risk resilience

48

Elevated Risk

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Thesis, catalysts, evidence, and risk analysis.

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AI-generated, informational only, and not investment advice.

Company profile

Company website

Adaptive Biotechnologies Corporation, founded in 2009 and headquartered in Seattle, Washington (operating as Adaptive TCR Corporation until its name change in December 2011), is a commercial-stage entity focused on pioneering an immune medicine platform. This advanced platform is engineered for the precise diagnosis and effective treatment of a broad spectrum of illnesses. The company offers several core technological solutions. Its immunoSEQ platform, a foundational immunosequencing product, is vital for translational research and discovering novel prognostic and diagnostic markers. For confirming past COVID-19 infections, Adaptive provides T-Detect COVID. Additionally, clonoSEQ functions as a critical clinical diagnostic tool, enabling the detection and continuous monitoring of minimal residual disease in individuals with multiple myeloma, B-cell acute lymphoblastic leukemia, and chronic lymphocytic leukemia; it is also available as a CLIA-validated laboratory-developed test for other lymphoid cancers. Another specialized offering, immunoSEQ T-MAP COVID, aids vaccine developers and researchers in quantifying T-cell immune responses to vaccines. Beyond its current product lineup, Adaptive Biotechnologies actively develops a pipeline of clinical products and services designed for the diagnosis, monitoring, and treatment of conditions such as cancer, autoimmune disorders, and infectious diseases. Its solutions cater to life science research, clinical diagnostics, and drug discovery applications. The company has established key strategic collaborations: one with Genentech, Inc., for the joint development, manufacturing, and commercialization of neoantigen-directed T-cell therapies aimed at treating various cancers; and another with Microsoft Corporation, dedicated to creating sophisticated diagnostic tests capable of identifying multiple diseases early from a single blood sample.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
Chad Robins
Listed since
Jun 27, 2019
Employees
624

Market position

Day range

Current $25.99

52-week range

Current $25.99

Open
$25.31
Previous close
$25.44
Volume
1.82M
0.72× average
Average volume
2.54M
Average daily volume
Market cap
4.16B USD
Beta
2.09
Market reference 1
50-day average
$22.0052
+18.11% above average
200-day average
$17.1731
+51.34% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.67B USD
P/E (TTM)
-63.79×
P/B (TTM)
28.68×
P/S (TTM)
13.5×
EV / EBITDA
-89.6×
Earnings yield
-2.41%
Free cash flow yield
-1.99%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
75.44%
Operating margin
-12.16%
Net margin
-20.73%
Return on equity
-27.19%
Return on assets
-11.60%
Return on invested capital
-13.09%

Financial health

Debt / equity
2.87×
Current ratio
3.34×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends95%11%-73%-156%Gross margin, FY2021: 68.06%Gross margin, FY2022: 68.75%Gross margin, FY2023: 55.63%Gross margin, FY2024: 59.72%Gross margin, FY2025: 74.24%Operating margin, FY2021: -135.39%Operating margin, FY2022: -108.03%Operating margin, FY2023: -133.33%Operating margin, FY2024: -90.83%Operating margin, FY2025: -20.62%Net margin, FY2021: -134.30%Net margin, FY2022: -108.03%Net margin, FY2023: -132.29%Net margin, FY2024: -89.12%Net margin, FY2025: -21.48%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 68.06%. Gross margin FY2022 68.75%. Gross margin FY2023 55.63%. Gross margin FY2024 59.72%. Gross margin FY2025 74.24%. Operating margin FY2021 -135.39%. Operating margin FY2022 -108.03%. Operating margin FY2023 -133.33%. Operating margin FY2024 -90.83%. Operating margin FY2025 -20.62%. Net margin FY2021 -134.30%. Net margin FY2022 -108.03%. Net margin FY2023 -132.29%. Net margin FY2024 -89.12%. Net margin FY2025 -21.48%.

Income trends

Revenue

276.98M USD+54.77%

Operating income

−57.12M USD+64.86%

Net income

−59.5M USD+62.69%
Income trends across reported periods327.38M USD125.77M USD−75.83M USD−277.44M USDRevenue, FY2021: 154.34M USDRevenue, FY2022: 185.31M USDRevenue, FY2023: 170.28M USDRevenue, FY2024: 178.96M USDRevenue, FY2025: 276.98M USDOperating income, FY2021: −208.97M USDOperating income, FY2022: −200.19M USDOperating income, FY2023: −227.04M USDOperating income, FY2024: −162.55M USDOperating income, FY2025: −57.12M USDNet income, FY2021: −207.28M USDNet income, FY2022: −200.19M USDNet income, FY2023: −225.25M USDNet income, FY2024: −159.49M USDNet income, FY2025: −59.5M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 154.34M USD. Revenue FY2022 185.31M USD. Revenue FY2023 170.28M USD. Revenue FY2024 178.96M USD. Revenue FY2025 276.98M USD. Operating income FY2021 −208.97M USD. Operating income FY2022 −200.19M USD. Operating income FY2023 −227.04M USD. Operating income FY2024 −162.55M USD. Operating income FY2025 −57.12M USD. Net income FY2021 −207.28M USD. Net income FY2022 −200.19M USD. Net income FY2023 −225.25M USD. Net income FY2024 −159.49M USD. Net income FY2025 −59.5M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue276.98M USD178.96M USD170.28M USD185.31M USD154.34M USD
Cost of goods sold71.36M USD72.08M USD75.55M USD57.91M USD49.3M USD
Gross profit205.62M USD106.88M USD94.72M USD127.4M USD105.04M USD
Research and development93.77M USD102.95M USD122.12M USD141.76M USD142.34M USD
Selling, general, and administrative167.27M USD157.57M USD172.51M USD184.13M USD169.97M USD
Operating expenses262.74M USD269.43M USD321.76M USD327.59M USD314.01M USD
Interest income9.44M USD14.53M USD15.53M USD4.06M USD1.67M USD
Interest expense11.78M USD11.58M USD13.8M USD4.24M USD—
Depreciation and amortization17.83M USD19.26M USD22.23M USD20.92M USD13.95M USD
Operating income−57.12M USD−162.55M USD−227.04M USD−200.19M USD−208.97M USD
Net income−59.5M USD−159.49M USD−225.25M USD−200.19M USD−207.28M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+17.31%
11 comparable reports
Latest EPS result
-0.25
Estimate -0.13 · Miss by 87.11%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.1-0.06-0.22-0.38Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 12, 2025: actual -0.23, estimate -0.27, surprise +14.81%, Beat. Q2 2025, reported May 5, 2025: actual -0.2, estimate -0.34, surprise +41.18%, Beat. Q3 2025, reported Aug 5, 2025: actual -0.17, estimate -0.24, surprise +29.17%, Beat. Q4 2025, reported Nov 6, 2025: actual 0.06, estimate -0.18, surprise +133.33%, Beat. Q1 2026, reported Feb 5, 2026: actual -0.09, estimate -0.19, surprise +52.63%, Beat. Q2 2026, reported May 5, 2026: actual -0.13, estimate -0.16, surprise +18.75%, Beat. Q3 2026, reported Jul 29, 2026: actual -0.25, estimate -0.134, surprise -87.11%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate -0.1, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates98.08M78.24M58.41M38.57MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 12, 2025: actual 47.46M USD, estimate 46.05M USD, surprise +3.06%, Beat. Q2 2025, reported May 5, 2025: actual 52.44M USD, estimate 42.68M USD, surprise +22.88%, Beat. Q3 2025, reported Aug 5, 2025: actual 58.88M USD, estimate 49.4M USD, surprise +19.20%, Beat. Q4 2025, reported Nov 6, 2025: actual 93.97M USD, estimate 64.63M USD, surprise +45.40%, Beat. Q1 2026, reported Feb 5, 2026: actual 71.68M USD, estimate 60.89M USD, surprise +17.72%, Beat. Q2 2026, reported May 5, 2026: actual 70.9M USD, estimate 61.03M USD, surprise +16.16%, Beat. Q3 2026, reported Jul 29, 2026: actual 71.55M USD, estimate 65.44M USD, surprise +9.35%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 71.65M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

17 ratings
Strong buy00%
Buy1165%
Hold424%
Sell212%
Strong sell00%

Recent analyst actions

8 institutions
ScotiabankmaintainSector Outperform

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ETFs holding ADPT

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
109.53M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
99.67M
Weight
0.12%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
ARK Genomic Revolution ETF logoARK Genomic Revolution ETFARKG
Market value
44.76M
Weight
2.35%
AUM
1.56B USD
Expense ratio
0.75%
Price / 1D
$49.45+3.80%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
39.49M
Weight
0.02%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
iShares Russell 2000 Growth ETF logoiShares Russell 2000 Growth ETFIWO
Market value
36.36M
Weight
0.24%
AUM
15.16B USD
Expense ratio
0.24%
Price / 1D
$387.37+1.24%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
32.1M
Weight
0.03%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Biotechnology ETF logoiShares Biotechnology ETFIBB
Market value
29.42M
Weight
0.28%
AUM
10.75B USD
Expense ratio
0.44%
Price / 1D
$213.56+1.29%
Vanguard Morningstar Small-Cap Growth ETF logoVanguard Morningstar Small-Cap Growth ETFVBK
Market value
22.8M
Weight
0.05%
AUM
43.8B USD
Expense ratio
0.05%
Price / 1D
$358.65+0.70%

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