Adaptive Biotechnologies Corporation (ADPT)Stock Price & Financial Statements
AboutAdaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection. It also provides clonoSEQ, a clinical diagnostic product for the detection and monitoring of minimal residual disease in patients with multiple myeloma, B cell acute lymphoblastic leukemia, and chronic lymphocytic leukemia, as well as available as a CLIA-validated laboratory developed test for patients with other lymphoid cancers; and immunoSEQ T-MAP COVID for vaccine developers and researchers to measure the T-cell immune response to vaccines. In addition, the company offers a pipeline of clinical products and services that are used for the diagnosing, monitoring, and treatment of diseases, such as cancer, autoimmune conditions, and infectious diseases. It serves the life sciences research, clinical diagnostics, and drug discovery applications. Adaptive Biotechnologies Corporation has strategic collaborations with Genentech, Inc. for the development, manufacture, and commercialization of neoantigen directed T cell therapies for the treatment of a range of cancers; and Microsoft Corporation to develop diagnostic tests for the early detection of various diseases from a single blood test. The company was formerly known as Adaptive TCR Corporation and changed its name to Adaptive Biotechnologies Corporation in December 2011. Adaptive Biotechnologies Corporation was incorporated in 2009 and is headquartered in Seattle, Washington.Show more
- Revenue $179M +5.1%
- EBITDA -$143M +30.0%
- Net Income -$159M +29.2%
- EPS (Diluted) -1.08 +30.8%
- Gross Margin 59.72% +7.4%
- EBITDA Margin -80.07% +33.4%
- Operating Margin -90.83% +31.9%
- Net Margin -89.12% +32.6%
- ROE -62.45% -7.1%
- ROIC -41.61% -0.7%
- Debt/Equity 0.44 +37.8%
- Interest Coverage -14.04 +14.7%
Key Insights
Based on financial data analysisStrengths
- ✓Strong 5Y sales CAGR of 16.0%
Weaknesses
- ✗Negative free cash flow
- ✗Expensive at 11.9x book value
Price & Volume
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Growth Metrics
Revenue CAGR
10Y-
5Y16.04%
3Y5.06%
TTM42.57%
Profit (Net Income) CAGR
10Y-
5Y-
3Y-
TTM59.22%
EPS CAGR
10Y-
5Y-
3Y-
TTM59.59%
ROCE
10Y Avg-21.71%
5Y Avg-26.34%
3Y Avg-30.72%
Latest-32.05%
Peer Comparison
Diagnostics and Omics Tools| Name | Market Cap | Current Price | P/E Ratio | Revenue Growth 1Y | Net Margin | ROE | FCF Yield | Debt/Equity |
|---|---|---|---|---|---|---|---|---|
 VCYTVeracyte, Inc. | 2.88B | 36.27 | 44.23 | 16.01% | 12.83% | 5.07% | 4.4% | 0.03 |
 ASBPWAspire Biopharma Holdings, Inc. | 178.9K | 0.02 | -0.01 | -16351.77% | ||||
 VRAXVirax Biolabs Group Limited | 1.55M | 0.21 | -0.11 | -95.95% | -78.62% | -234.24% | 0.07 | |
 CDIOCardio Diagnostics Holdings, Inc. | 141.46M | 5.26 | -0.57 | 104.45% | -415.16% | -80.38% | 0.10 | |
 AIMDAinos, Inc. | 7.24M | 1.51 | -0.97 | -83.02% | -132.32% | -148.9% | 0.77 | |
 IMDXInsight Molecular Diagnostics Inc. | 95.47M | 5.47 | -1.17 | 25.15% | -13.81% | -14.81% | ||
 SEERSeer, Inc. | 103.2M | 1.85 | -1.33 | -8.13% | -486.02% | -29.19% | 0.08 | |
 ASBPAspire Biopharma Holdings, Inc. | 62.88M | 1.32 | -5.08 | -16351.99% |
Compare ADPT vs Peers
Analyze head-to-head performance against top industry competitors across valuation, growth, and profitability metrics.
Income Statement
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 38.45M | 55.66M | 85.07M | 98.38M | 154.34M | 185.31M | 170.28M | 178.96M |
| Revenue Growth % | - | 44.77% | 52.83% | 15.65% | 56.88% | 20.06% | -8.11% | 5.1% |
| Cost of Goods Sold | 15.68M | 19.67M | 22.27M | 22.53M | 49.3M | 57.91M | 75.55M | 72.08M |
| COGS % of Revenue | 40.78% | 35.33% | 26.18% | 22.9% | 31.94% | 31.25% | 44.37% | 40.28% |
| Gross Profit | 22.77M | 35.99M | 62.8M | 75.85M | 105.04M | 127.4M | 94.72M | 106.88M |
| Gross Margin % | 59.22% | 64.67% | 73.82% | 77.1% | 68.06% | 68.75% | 55.63% | 59.72% |
| Gross Profit Growth % | - | 58.09% | 74.46% | 20.79% | 38.48% | 21.28% | -25.65% | 12.83% |
| Operating Expenses | 66.4M | 85.75M | 141.19M | 228.67M | 314.01M | 327.58M | 321.76M | 269.43M |
| OpEx % of Revenue | 172.71% | 154.05% | 165.96% | 232.43% | 203.45% | 176.78% | 188.96% | 150.55% |
| Selling, General & Admin | 32.71M | 44.9M | 68.78M | 110.89M | 169.97M | 184.13M | 172.51M | 157.56M |
| SG&A % of Revenue | 85.09% | 80.66% | 80.86% | 112.72% | 110.12% | 99.36% | 101.31% | 88.05% |
| Research & Development | 32M | 39.16M | 70.7M | 116.07M | 142.34M | 141.76M | 122.12M | 102.95M |
| R&D % of Revenue | 83.22% | 70.35% | 83.11% | 117.98% | 92.22% | 76.5% | 71.72% | 57.53% |
| Other Operating Expenses | 1.69M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 27.13M | 8.91M |
| Operating Income | -44.48M | -49.76M | -78.39M | -152.82M | -208.97M | -200.19M | -227.03M | -162.55M |
| Operating Margin % | -115.68% | -89.39% | -92.15% | -155.33% | -135.39% | -108.03% | -133.33% | -90.83% |
| Operating Income Growth % | - | -11.87% | -57.55% | -94.94% | -36.74% | 4.2% | -13.41% | 28.4% |
| EBITDA | -38.68M | -43.76M | -70.6M | -144.34M | -195.01M | -179.27M | -204.8M | -143.29M |
| EBITDA Margin % | -100.6% | -78.61% | -82.99% | -146.72% | -126.35% | -96.74% | -120.28% | -80.07% |
| EBITDA Growth % | - | -13.13% | -61.35% | -104.45% | -35.1% | 8.07% | -14.25% | 30.03% |
| D&A (Non-Cash Add-back) | 5.8M | 6M | 7.79M | 8.47M | 13.95M | 20.92M | 22.23M | 19.26M |
| EBIT | -43.63M | -49.76M | -78.39M | -152.82M | -207.3M | -196.13M | -211.5M | -148.01M |
| Net Interest Income | 1.64M | 3.31M | 9.79M | 6.59M | 1.67M | -182K | 1.73M | 2.95M |
| Interest Income | 1.64M | 3.31M | 9.79M | 6.59M | 1.67M | 4.06M | 15.53M | 14.53M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 4.24M | 13.8M | 11.58M |
| Other Income/Expense | 1.64M | 3.31M | 9.79M | 6.59M | 1.67M | -182K | 1.73M | 2.95M |
| Pretax Income | -42.83M | -46.45M | -68.61M | -146.23M | -207.3M | -200.37M | -225.3M | -159.59M |
| Pretax Margin % | -111.4% | -83.44% | -80.65% | -148.63% | -134.31% | -108.13% | -132.32% | -89.18% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 100% | 100% | 100% | 100% | 99.99% | 99.91% | 99.98% | 99.94% |
| Net Income | -42.83M | -46.45M | -68.61M | -146.23M | -207.28M | -200.19M | -225.25M | -159.49M |
| Net Margin % | -111.4% | -83.44% | -80.65% | -148.63% | -134.3% | -108.03% | -132.29% | -89.12% |
| Net Income Growth % | - | -8.44% | -47.71% | -113.14% | -41.75% | 3.42% | -12.52% | 29.19% |
| Net Income (Continuing) | -42.83M | -46.45M | -68.61M | -146.23M | -207.3M | -200.37M | -225.3M | -159.59M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 110K | -67K | -121K | -224K |
| EPS (Diluted) | -0.41 | -0.44 | -0.47 | -1.06 | -1.46 | -1.00 | -1.56 | -1.08 |
| EPS Growth % | - | -7.32% | -6.82% | -125.53% | -37.74% | 31.51% | -56% | 30.77% |
| EPS (Basic) | -0.41 | -0.44 | -0.47 | -1.06 | -1.46 | -1.00 | -1.56 | -1.08 |
| Diluted Shares Outstanding | 105.43M | 105.43M | 124.34M | 131.22M | 140.35M | 142.52M | 144.38M | 147.1M |
| Basic Shares Outstanding | 105.43M | 105.43M | 124.34M | 131.22M | 140.35M | 142.52M | 144.38M | 147.1M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Balance Sheet
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 205.25M | 180.72M | 612.69M | 726.91M | 402.75M | 562.15M | 410.19M | 283.75M |
| Cash & Short-Term Investments | 192.15M | 165.02M | 576.87M | 688.27M | 353.06M | 498.2M | 346.4M | 222.29M |
| Cash Only | 85.31M | 55.03M | 96.58M | 123.44M | 139.06M | 90.03M | 65.06M | 47.92M |
| Short-Term Investments | 106.84M | 109.99M | 480.29M | 564.83M | 214M | 408.17M | 281.34M | 174.37M |
| Accounts Receivable | 5.58M | 4.81M | 12.68M | 10.05M | 17.41M | 40.06M | 37.97M | 41.73M |
| Days Sales Outstanding | 52.99 | 31.52 | 54.39 | 37.27 | 41.17 | 78.9 | 81.39 | 85.11 |
| Inventory | 4.79M | 7.84M | 9.07M | 14.06M | 19.26M | 14.45M | 14.45M | 8.44M |
| Days Inventory Outstanding | 111.55 | 145.46 | 148.61 | 227.83 | 142.61 | 91.1 | 69.8 | 42.74 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 9.44M | 11.37M | 11.29M |
| Total Non-Current Assets | 157.24M | 151.97M | 299.61M | 389.5M | 520.6M | 294.47M | 250.95M | 255.62M |
| Property, Plant & Equipment | 13.95M | 19.13M | 60.35M | 139.04M | 172.94M | 164.21M | 120.32M | 94.38M |
| Fixed Asset Turnover | 2.76x | 2.91x | 1.41x | 0.71x | 0.89x | 1.13x | 1.42x | 1.90x |
| Goodwill | 118.97M | 118.97M | 118.97M | 118.97M | 118.97M | 118.97M | 118.97M | 118.97M |
| Intangible Assets | 15.32M | 13.63M | 11.93M | 10.22M | 8.53M | 6.83M | 5.13M | 3.42M |
| Long-Term Investments | 8.9M | 247K | 105.44M | 118.53M | 217.15M | 0 | 0 | 33.66M |
| Other Non-Current Assets | 86K | 247K | 2.92M | 2.74M | 3.01M | 4.46M | 6.52M | 5.18M |
| Total Assets | 362.49M | 332.69M | 912.3M | 1.12B | 923.34M | 856.62M | 661.13M | 539.38M |
| Asset Turnover | 0.11x | 0.17x | 0.09x | 0.09x | 0.17x | 0.22x | 0.26x | 0.33x |
| Asset Growth % | - | -8.22% | 174.22% | 22.37% | -17.29% | -7.23% | -22.82% | -18.42% |
| Total Current Liabilities | 21M | 22.8M | 78.31M | 105.2M | 113.81M | 109.79M | 88.02M | 98.05M |
| Accounts Payable | 1.96M | 1.79M | 4.45M | 3.24M | 3.31M | 8.08M | 7.72M | 7.26M |
| Days Payables Outstanding | 45.72 | 33.27 | 72.97 | 52.44 | 24.48 | 50.95 | 37.29 | 36.79 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 14.05M | 12.7M | 60.99M | 73.32M | 80.46M | 64.11M | 48.63M | 55.69M |
| Other Current Liabilities | 1.93M | 3.67M | 8.49M | 11.95M | 15.64M | 15.94M | 13.69M | 16.7M |
| Current Ratio | 9.77x | 7.93x | 7.82x | 6.91x | 3.54x | 5.12x | 4.66x | 2.89x |
| Quick Ratio | 9.54x | 7.58x | 7.71x | 6.78x | 3.37x | 4.99x | 4.50x | 2.81x |
| Cash Conversion Cycle | 118.82 | 143.7 | 130.03 | 212.66 | 159.3 | 119.04 | 113.9 | 91.06 |
| Total Non-Current Liabilities | 566.1M | 568M | 262.95M | 267.95M | 205.44M | 282.73M | 264.84M | 238.84M |
| Long-Term Debt | 0 | 561.19M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 36.61M | 104.33M | 106.69M | 98.77M | 89.39M | 79.15M |
| Deferred Tax Liabilities | 0 | -561.19M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 566.1M | 6.1M | 7.01M | 0 | 0 | 125.36M | 130.66M | 132.43M |
| Total Liabilities | 587.11M | 590.8M | 341.26M | 373.15M | 319.24M | 392.52M | 352.86M | 336.89M |
| Total Debt | 561.67M | 561.19M | 36.61M | 107.86M | 111.74M | 108M | 98.77M | 89.39M |
| Net Debt | 476.37M | 506.16M | -59.97M | -15.57M | -27.32M | 17.97M | 33.71M | 41.47M |
| Debt / Equity | - | - | 0.06x | 0.15x | 0.18x | 0.23x | 0.32x | 0.44x |
| Debt / EBITDA | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -47.24x | -16.45x | -14.04x |
| Total Equity | -224.62M | -258.11M | 571.04M | 743.27M | 604.1M | 464.1M | 308.28M | 202.49M |
| Equity Growth % | - | -14.91% | 321.24% | 30.16% | -18.72% | -23.18% | -33.57% | -34.32% |
| Book Value per Share | -2.13 | -2.45 | 4.59 | 5.66 | 4.30 | 3.26 | 2.14 | 1.38 |
| Total Shareholders' Equity | -224.62M | -258.11M | 571.04M | 743.27M | 603.99M | 464.17M | 308.4M | 202.71M |
| Common Stock | 1K | 1K | 12K | 14K | 14K | 14K | 14K | 14K |
| Retained Earnings | -249.42M | -295.91M | -365.48M | -511.61M | -718.89M | -919.08M | -1.14B | -1.3B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -166K | -107K | 671K | 893K | -1.14M | -4.12M | 215K | 166K |
| Minority Interest | 0 | 0 | 0 | 0 | 110K | -67K | -121K | -224K |
Cash Flow Statement
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -34.86M | -32.26M | 205.4M | -149.68M | -192.73M | -183.94M | -156.32M | -95.21M |
| Operating CF Margin % | -90.66% | -57.95% | 241.45% | -152.14% | -124.87% | -99.26% | -91.81% | -53.2% |
| Operating CF Growth % | - | 7.46% | 736.73% | -172.87% | -28.76% | 4.56% | 15.02% | 39.09% |
| Net Income | -42.83M | -46.45M | -68.61M | -146.23M | -207.28M | -200.19M | -225.25M | -159.59M |
| Depreciation & Amortization | 5.8M | 6M | 7.79M | 8.47M | 20.98M | 28.15M | 22.23M | 19.26M |
| Stock-Based Compensation | 7.01M | 11.15M | 13.12M | 24.76M | 0 | 0 | 0 | 53.61M |
| Deferred Taxes | 637K | -1.24M | -1.88M | 773K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 6K | 5K | 43K | 3.34M | 50.39M | 59.65M | 92.88M | 8.97M |
| Working Capital Changes | -5.47M | -1.72M | 254.93M | -40.8M | -56.82M | -71.55M | -46.18M | -17.45M |
| Change in Receivables | -2.43M | 775K | -7.82M | 2.61M | -7.36M | -22.65M | 2.03M | -3.74M |
| Change in Inventory | -2.7M | -3.05M | -1.23M | -4.99M | -5.2M | 817K | -2.84M | 1.94M |
| Change in Payables | -1.84M | 1.87M | -2.43M | 5.25M | 3.94M | 7.11M | -5.41M | 671K |
| Cash from Investing | 36.43M | 736K | -481.7M | -117.04M | 181.21M | 2.9M | 129.65M | 77.79M |
| Capital Expenditures | -2.51M | -6.32M | -11.2M | -18.8M | -61.75M | -16.35M | -10.7M | -3.66M |
| CapEx % of Revenue | 6.52% | 11.35% | 13.17% | 19.11% | 40.01% | 8.82% | 6.28% | 2.05% |
| Acquisitions | 85K | 19K | 470.5M | 98.24M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 122K | 19K | -470.5M | -98.24M | 0 | 0 | 0 | 0 |
| Cash from Financing | 50.03M | 1.25M | 319.92M | 293.59M | 27.15M | 132.26M | 2.25M | 241K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 124.38M | 0 | 0 |
| Equity Issued (Net) | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 241K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 207K | 1.25M | -934K | 21.43M | 429K | 0 | 0 | 0 |
| Net Change in Cash | 51.61M | -30.27M | 43.62M | 26.86M | 15.63M | -49.03M | -24.97M | -17.18M |
| Free Cash Flow | -37.36M | -38.58M | 194.2M | -168.49M | -254.47M | -200.29M | -167.02M | -98.88M |
| FCF Margin % | -97.18% | -69.3% | 228.28% | -171.26% | -164.87% | -108.09% | -98.09% | -55.25% |
| FCF Growth % | - | -3.25% | 603.42% | -186.76% | -51.04% | 21.29% | 16.61% | 40.8% |
| FCF per Share | -0.35 | -0.37 | 1.56 | -1.28 | -1.81 | -1.41 | -1.16 | -0.67 |
| FCF Conversion (FCF/Net Income) | 0.81x | 0.69x | -2.99x | 1.02x | 0.93x | 0.92x | 0.69x | 0.60x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Key Ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -43.85% | -22.25% | -30.77% | -37.48% | -58.33% | -62.45% |
| Return on Invested Capital (ROIC) | - | -14.93% | -15.49% | -18.5% | -24.03% | -28.36% | -41.33% | -41.61% |
| Gross Margin | 59.22% | 64.67% | 73.82% | 77.1% | 68.06% | 68.75% | 55.63% | 59.72% |
| Net Margin | -111.4% | -83.44% | -80.65% | -148.63% | -134.3% | -108.03% | -132.29% | -89.12% |
| Debt / Equity | - | - | 0.06x | 0.15x | 0.18x | 0.23x | 0.32x | 0.44x |
| Interest Coverage | - | - | - | - | - | -47.24x | -16.45x | -14.04x |
| FCF Conversion | 0.81x | 0.69x | -2.99x | 1.02x | 0.93x | 0.92x | 0.69x | 0.60x |
| Revenue Growth | - | 44.77% | 52.83% | 15.65% | 56.88% | 20.06% | -8.11% | 5.1% |
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