Earnings summaries and quarterly performance for Adaptive Biotechnologies.
Executive leadership at Adaptive Biotechnologies.
Chad Robins
Detailed
Chief Executive Officer
CEO
Francis Lo
Detailed
Chief People Officer
Harlan Robins
Detailed
Chief Scientific Officer
Julie Rubinstein
Detailed
President and Chief Operating Officer
Kyle Piskel
Detailed
Chief Financial Officer
Sharon Benzeno
Detailed
Chief Commercial Officer, Immune Medicine
Susan Bobulsky
Detailed
Chief Commercial Officer, MRD
Board of directors at Adaptive Biotechnologies.
Research analysts who have asked questions during Adaptive Biotechnologies earnings calls.
Mark Massaro
BTIG, LLC
4 questions for ADPT
Also covers: AKYA, BLLN, BNGO +19 more
Andrew Brackmann
William Blair & Company, L.L.C.
3 questions for ADPT
Also covers: AWH, BDSX, BFLY +11 more
Daniel Brennan
TD Cowen
3 questions for ADPT
Also covers: A, AVTR, BDSX +24 more
David Westenberg
Piper Sandler
2 questions for ADPT
Also covers: AKYA, BLLN, CTKB +13 more
Sebastian Sandler
JPMorgan Chase & Co.
2 questions for ADPT
Also covers: ICLR
Sung Ji Nam
Scotiabank
2 questions for ADPT
Also covers: BDSX, BNGO, CSTL +9 more
Tejas Savant
Morgan Stanley
2 questions for ADPT
Also covers: AKYA, AVTR, CRL +19 more
Yuko Oku
Morgan Stanley
2 questions for ADPT
Also covers: GH, GRAL, MRVI +7 more
Corey Rosenbaum
Scotiabank
1 question for ADPT
Also covers: CSTL, VCYT
Margarate Boeye
Raymond James
1 question for ADPT
Also covers: AWH, SERA
Matthew Sykes
Goldman Sachs Group Inc.
1 question for ADPT
Also covers: A, AVTR, CRL +21 more
Rachel Vatnsdal Olson
JPMorgan
1 question for ADPT
Also covers: A, AKYA, AVTR +14 more
Thomas Stevens
TD Cowen
1 question for ADPT
Recent press releases and 8-K filings for ADPT.
Adaptive Biotechnologies Discusses Gross Margin Improvement, Growth Drivers, and Reimbursement Progress
ADPT
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Adaptive Biotechnologies reported a 2% gross margin improvement in Q3, increasing from 63% to 65%, and anticipates a further 5% to 8% lift over the next 12 months post-X transition.
- EMR integration is identified as the single largest contributor to accelerated growth this year, with 165 total integrated sites as of Q3 and approximately 40% of volume flowing through EMR-integrated systems.
- The company has seen success in renegotiating private payer rates following the increase in reimbursement from $1,717 to $2,007 per test, securing contracts with major payers like Anthem and Centene Florida.
- New Mantle Cell Lymphoma (MCL) recurrence monitoring coverage nearly doubled the potential average lifetime value of a patient in that indication, allowing for testing every six months for up to five years post-treatment, in addition to the initial four tests during treatment.
Dec 3, 2025, 1:30 PM
Adaptive Biotechnologies Discusses Q3 Margin Improvement and Growth Drivers
ADPT
Revenue Acceleration/Inflection
Guidance Update
New Projects/Investments
- Adaptive Biotechnologies achieved a 2% gross margin improvement in Q3 due to the X transition, increasing from approximately 63% to 65%, and expects a further 5%-8% lift over the next 12 months.
- EMR integration is the single largest contributor to accelerated growth, with 165 total integrated sites as of Q3, and approximately 40% of volume now processed through EMR integrated systems.
- Blood-based testing is a significant growth driver, facilitating increased testing frequency (e.g., every three months for multiple myeloma blood tests versus annual bone marrow tests) and broader adoption in the community.
- New recurrence monitoring coverage for mantle cell lymphoma (MCL) has nearly doubled the potential average lifetime value per patient, allowing for more frequent and long-term testing.
- The increase in average selling price (ASP) from $1,717 to $2,007 per test has spurred successful renegotiations with private payers and enabled new contracts, with further renegotiations anticipated to conclude in 2026.
Dec 3, 2025, 1:30 PM
Adaptive Biotechnologies Reports Gross Margin Improvement and Expanded Market Access
ADPT
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Adaptive Biotechnologies realized approximately 2% gross margin improvement in Q3 due to the X transition, with an anticipated 5% to 8% point lift over the next 12 months post-launch.
- The company has significantly expanded its EMR integrations, reaching 165 total integrated sites as of the end of Q3, with 40% of its volume now flowing through an EMR integrated system.
- Following the increase in reimbursement from $1,717 to $2,007 per test, Adaptive Biotechnologies has successfully renegotiated contracts with private payers and established new contracts, including with Anthem and Centene Florida.
- CMS coverage for mantle cell lymphoma (MCL) recurrence monitoring has nearly doubled the potential average lifetime value of a patient in that indication, allowing for testing every six months for up to five years and annually thereafter.
Dec 3, 2025, 1:30 PM
Adaptive Biotechnologies Reports Strong Q3 2025 Performance and Positive Outlook
ADPT
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Adaptive Biotechnologies reported a strong Q3 2025, with volumes growing 7% quarter over quarter and 32% year over year, ASPs reaching $1,340, and gross margin improving from 63% to 66%, leading to profitability on cash flow and EBITDA. The company also increased its full-year guidance.
- The company is on track to achieve its long-term ASP target of $1,700-$1,800, supported by a gap fill rate adjusted to $2,007 per test and significant increases in commercial and Medicaid average ASPs.
- Key guideline inclusions for CLL, DLBCL, and multiple myeloma are expected to drive utilization, with the company emphasizing EMR integrations (currently at 40% of testing volumes) and blood-based testing to expand reach, particularly in the community setting.
- The pharma business has an MRD backlog exceeding $200 million, with 85% expected to convert to revenue over time, reflecting a shift towards primary and secondary endpoint studies.
- The Immune Medicine business, with anticipated revenue of around $20 million (excluding Genentech), is focused on leveraging AI and data sets for drug discovery in areas like autoimmunity, with investments gated by the profitability of the MRD business and potential deal revenue.
Nov 19, 2025, 8:00 AM
Adaptive Biotechnologies Reports Strong Q3 2025 Performance and Positive Outlook
ADPT
Revenue Acceleration/Inflection
Guidance Update
New Projects/Investments
- Adaptive Biotechnologies reported a strong Q3 2025, with volumes growing 7% quarter-over-quarter and 32% year-over-year, and ASPs reaching $1,340. The company achieved profitability on cash flow and EBITDA.
- The company is confident in reaching its $1,700-$1,800 long-term ASP target, supported by an adjusted gap fill rate of $2,007 per test and significant increases in commercial and Medicaid average selling prices.
- Significant guideline inclusions were achieved for CLL, DLBCL, and multiple myeloma, which are expected to drive increased utilization and serial testing.
- EMR integration is a strategic priority, with 40% of testing volumes currently integrated and a goal to exceed 50% by year-end 2025, contributing to faster growth in integrated sites.
- The pharma business has an over $200 million backlog, with 85% expected to convert to revenue over time, and the immune medicine pharma services revenue is anticipated to be stable at around $20 million for 2024.
Nov 19, 2025, 8:00 AM
Adaptive Biotechnologies Reports Strong Q3 Performance and Positive Outlook for 2026
ADPT
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Adaptive Biotechnologies reported a strong Q3 with 7% quarter-over-quarter volume growth and 32% year-over-year, an increase in ASPs to $1,340, and improved gross margin from 63% to 66%, leading to an increased full-year guide.
- The company is progressing towards its $1,700-$1,800 long-term ASP target, supported by a gap fill rate adjusted to $2,007 per test, significant coverage wins, and policy expansions, including the first commercial payer coverage for DLBCL.
- Significant guideline inclusions for MRD were achieved in Q3, notably the first CLL guideline inclusion specifying serial assessment and recognizing NGS, and DLBCL receiving NCCN inclusion for the first time. EMR integrations, including 165 EMR integrated sites (46 Epic, 116 Flatiron), are driving faster growth in integrated sites (9% vs. 6% for non-integrated) and supporting recurrence monitoring.
- The pharma business has an over $200 million MRD backlog, with 85% expected to convert to revenue over time, and a shift towards primary and secondary endpoints in studies. The Immune Medicine business anticipates $20 million in revenue from Pharma Services for 2024, with a focus on minimal investment and maintaining profitability in the MRD business.
- Management expressed strong confidence for 2026, citing the low penetration of the MRD market, potential TAM expansion from serial testing, EMR integration, and the importance of blood-based testing for community settings.
Nov 19, 2025, 8:00 AM
ADPT Reports Strong Q3 2025 MRD Growth and Raises Full-Year Guidance
ADPT
Earnings
Guidance Update
Revenue Acceleration/Inflection
- ADPT's MRD business delivered strong Q3 2025 results, with revenue growing 52% year over year to $56.8 million, achieving positive adjusted EBITDA of $7 million, and becoming cash flow positive.
- The company raised its full-year 2025 MRD revenue guidance to $202-$207 million and narrowed its full-year cash burn guidance to $45-$50 million.
- ClonoSEQ test volume increased 38% year over year to 27,100 tests, with US average selling price (ASP) rising to over $1,340 per test in Q3 2025.
- Blood-based testing reached 45% of total ClonoSEQ volume in Q3 2025, achieving the full-year goal ahead of schedule.
Nov 5, 2025, 9:30 PM
ADPT Reports Strong Q3 2025 Results and Raises FY 2025 Guidance
ADPT
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Adaptive Biotechnologies reported strong Q3 2025 results, with MRD revenue reaching $56.8M, a 52% year-over-year increase, and MRD Adjusted EBITDA of $7.0M. Clinical testing revenue grew 83% year-over-year, driven by a 38% increase in clonoSEQ test volume and a 28% increase in clonoSEQ US ASPs.
- The company strengthened its financial profile, ending Q3 2025 with approximately $217M in cash and achieving a 51% reduction in cash burn for the first nine months of 2025 compared to 2024.
- Adaptive Biotechnologies updated its FY 2025 guidance, raising the MRD revenue range to between $202M and $207M (from $190M-$200M) and lowering cash burn expectations to between $45M and $50M (from $45M-$55M).
- The MRD pharma segment recognized $6.5M in milestone revenue in Q3 2025 and maintains a healthy backlog of over $200M.
Nov 5, 2025, 9:30 PM
Adaptive Biotechnologies Reports Strong Q3 2025 Financial Results and Raises Full-Year Guidance
ADPT
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Adaptive Biotechnologies reported revenue of $94.0 million for the third quarter of 2025, representing a 102% increase from the prior year, including $33.7 million recognized from the full amortization of payments under the terminated Genentech Agreement.
- The company achieved a net income of $9.5 million and an Adjusted EBITDA of $28.0 million for the third quarter of 2025.
- The MRD business, which contributed 60% of revenue, grew 52% year-over-year, achieved profitability and cash flow positivity in Q3 2025, with an Adjusted EBITDA of $7.0 million.
- Adaptive Biotechnologies raised its full-year 2025 MRD revenue guidance to a new range of $202 million to $207 million, implying annual growth of 39% to 42%.
Nov 5, 2025, 9:15 PM
Adaptive Biotechnologies Reports Strong Q3 2025 Results and Raises Full Year MRD Revenue Guidance
ADPT
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Adaptive Biotechnologies reported revenue of $94.0 million for the third quarter of 2025, marking a 102% increase from the prior year, which includes $33.7 million from the full amortization of payments under the terminated Genentech Agreement.
- The MRD business generated $56.8 million in revenue, representing 60% of total revenue and a 52% increase year-over-year, achieving cash flow positivity and Adjusted EBITDA of $7.0 million in Q3 2025.
- The company achieved net income of $9.5 million and Adjusted EBITDA of $28.0 million for Q3 2025, compared to a net loss of $32.1 million and an Adjusted EBITDA loss of $14.3 million in the third quarter of 2024.
- Adaptive Biotechnologies raised its full year 2025 MRD revenue guidance to a range of $202 million to $207 million and reduced its total company full year 2025 operating expenses guidance to between $335 million and $340 million, alongside a reduced cash burn guidance of $45 million to $50 million.
Nov 5, 2025, 9:05 PM
Quarterly earnings call transcripts for Adaptive Biotechnologies.
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