Adaptive Biotechnologies Corp Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $308.1M+72.2% YoYTTM through 30 Jun 2026
Net Income -$63.9MTTM through 30 Jun 2026
Free Cash Flow -$24MTTM through 30 Jun 2026
Margins
| Current | |
|---|---|
| Gross Margin | 73.6% |
| EBITDA Margin | -7.3% |
| Operating Margin | -27.1% |
| Net Margin | -20.7% |
Returns
-44.7%ROE
-10.0%ROA
Balance Sheet Health
Debt / Equity0.00x
Current Ratio4.79x
Net Debt-$169.9Mnet cash position
Cash & Equivalents$169.9M
Quality Metrics
Altman Z-Score3.28
Piotroski F-Score5 / 9
FCF Margin-7.8%
Earnings-Beat Rate100.0%
Multi-Year Trend
RevenueFY2025: $277M
Diluted EPS-$0.40TTMFY2025: $-0.39
Dividend
No dividend
Capital Allocation
R&D Spend$88.2M
Capex Intensity1.0%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Minimal Residual Disease (MRD) | $67.1M | +53.0% | View detailsFull-year 2026 MRD revenue guidance raised to $260 million - $270 million. |
| Immune Medicine | $38M | -57.0% | View detailsStrategic plans announced in June 2026 to separate the MRD and Immune Medicine businesses. |
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