Saturday 17 October 2026
Export ADPT’s income statement to Excel — free account
Adaptive Biotechnologies Corporation
ADPT Healthcare Diagnostics & Research
Adaptive Biotechnologies Corporation’s revenue for fiscal 2025 (year ended December 2025) was $277.0 million, up 54.8% from fiscal 2024. In the quarter to June 2026, revenue grew 21.5%, EPS fell 47.1% and free cash flow grew 42.0%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
24.02
1.56
−6.10%
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| Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | — | 5 | 2 | 3 | 5 | 3 | 5 | 6 |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
0.00 | 0.00 | 24.33 | 78.86 | 25.52 | 6.00 | 4.04 | 4.93 | 8.90 |
Altman Z-Score |
— | — | 3.59 | 12.14 | 6.11 | 0.24 | (1.51) | (2.06) | 2.08 |
P/FCF ratio |
2.20 | 2.20 | 10.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
13.99 | 9.83 | 3.72 | 3.33 | (0.02) | (0.36) | (3.84) | (7.02) | (5.91) |
Beneish M-Score |
— | (2.65) | (2.32) | (2.63) | (1.78) | (1.75) | (2.82) | (2.94) | (2.44) |
P/Operating CF |
1.87 | 1.87 | (77.24) | (194.73) | (73.17) | (37.03) | (25.57) | (70.66) | 1,199.01 |
P/B ratio |
0.00 | 0.00 | 3.62 | 10.44 | 6.52 | 2.40 | 2.23 | 4.36 | 10.95 |
Price to Tangible BV |
0.00 | 0.00 | 4.70 | 12.64 | 8.26 | 3.29 | 3.74 | 11.02 | 23.62 |
EV/Sales |
0.00 | 0.00 | 17.98 | 72.93 | 23.92 | 4.52 | 3.29 | 4.91 | 8.87 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
1.44 | 1.44 | 7.44 | (47.93) | (19.16) | (4.55) | (3.59) | (9.23) | (53.40) |
EV/FCF |
1.50 | 1.50 | 7.87 | (42.58) | (14.51) | (4.18) | (3.36) | (8.89) | (50.17) |
Quick Ratio |
9.41 | 7.45 | 7.53 | 6.64 | 3.26 | 4.90 | 4.37 | 2.69 | 3.08 |
Current Ratio |
9.77 | 7.93 | 7.82 | 6.91 | 3.54 | 5.12 | 4.66 | 2.89 | 3.34 |
Net Debt/EBITDA |
(9.65) | (8.81) | 7.20 | 4.79 | 1.88 | 2.79 | 1.62 | 1.47 | 5.43 |
Debt/Assets |
155.04% | 168.63% | 4.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
1.67 | 1.85 | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
0.11 | 0.16 | 0.14 | 0.10 | 0.15 | 0.21 | 0.22 | 0.30 | 0.53 |
Operating CF/Net income |
0.82 | 0.70 | (2.95) | 1.02 | 0.93 | 0.92 | 0.69 | 0.60 | 0.77 |
Capex/Depreciation |
(0.37) | (1.32) | (3.37) | (2.03) | (2.91) | (13.62) | (33.74) | (22.44) | (0.19) |
Interest Coverage |
(27.05) | (15.04) | (8.01) | (23.19) | (125.28) | (47.24) | (16.45) | (14.04) | (4.85) |
| 17.68% | 19.20% | (44.46%) | (22.25%) | (30.77%) | (37.48%) | (58.33%) | (62.45%) | (27.84%) | |
| (12.29%) | (13.33%) | (11.18%) | (14.42%) | (20.32%) | (22.49%) | (29.68%) | (26.57%) | (11.31%) | |
ROIC |
(3.93%) | (4.45%) | (159.18%) | (173.67%) | (52.02%) | 0.00% | 0.00% | 0.00% | 0.00% |
Return on Tangible Assets |
(21.54%) | (26.18%) | (11.70%) | (22.11%) | (55.39%) | (37.36%) | (57.70%) | (68.07%) | (24.35%) |
Average Days of Receivables |
52.99 | 31.52 | 54.39 | 37.27 | 41.17 | 78.90 | 81.39 | 85.11 | 66.37 |
Research and Development Expense of Revenue |
83.22% | 70.35% | 83.11% | 117.98% | 92.22% | 76.50% | 71.72% | 57.53% | 33.85% |
Selling, General and Administrative Expense of Revenue |
85.09% | 80.66% | 80.86% | 112.72% | 110.12% | 99.36% | 101.31% | 88.05% | 60.39% |
Intangible Assets out of Total Assets |
0.37 | 0.40 | 0.14 | 0.12 | 0.14 | 0.15 | 0.19 | 0.23 | 0.24 |
Share Based Compensation of Revenue |
18.23% | 20.03% | 15.43% | 25.17% | 28.02% | 29.94% | 36.94% | 29.96% | 18.59% |
Graham Net Nets |
0.35 | 0.35 | 0.13 | 0.05 | 0.02 | 0.15 | 0.08 | (0.06) | 0.01 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(1.81%) | (1.81%) | (9.82%) | (1.88%) | (5.24%) | (18.08%) | (32.70%) | (18.17%) | (2.46%) |
Free Cash Flow Yield |
45.43% | 45.43% | 9.38% | (2.17%) | (6.46%) | (18.02%) | (24.25%) | (11.20%) | (1.99%) |
Revenue per Share |
3.15 | 4.41 | 1.23 | 0.75 | 1.10 | 1.30 | 1.18 | 1.22 | 1.83 |
Operating CF per Share |
(2.86) | (2.55) | 2.97 | (1.14) | (1.37) | (1.29) | (1.08) | (0.65) | (0.30) |
Capex per Share |
(0.19) | (0.50) | (0.16) | (0.14) | (0.44) | (2.07) | (3.05) | (1.69) | (0.02) |
Free Cash Flow per Share |
(3.05) | (3.05) | 2.81 | (1.28) | (1.81) | (3.36) | (4.13) | (2.33) | (0.32) |
Cash per Share |
15.75 | 13.07 | 8.34 | 5.25 | 2.52 | 3.50 | 2.40 | 1.51 | 1.50 |
Shareholders Equity per Share |
27.61 | 23.97 | 8.26 | 5.66 | 4.30 | 3.26 | 2.14 | 1.38 | 1.48 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
27.61 | 23.97 | 8.26 | 5.66 | 4.30 | 3.26 | 2.14 | 1.38 | 1.48 |
Free Cash Flow |
(37.16) | (38.56) | 194.20 | (168.49) | (254.47) | (479.07) | (596.58) | (343.13) | (48.94) |
Working Capital |
184.24 | 157.92 | 534.38 | 621.72 | 288.94 | 452.36 | 322.17 | 185.70 | 210.27 |
Capital Expenditures |
(2.30) | (6.30) | (11.20) | (18.80) | (61.75) | (295.13) | (440.25) | (247.92) | (2.96) |
Net Current Asset Value |
179.48 | 150.78 | 271.43 | 353.77 | 83.51 | 169.63 | 57.33 | (53.14) | 12.45 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.06 | 0.11 | 0.13 | 0.19 | 0.40 | 1.59 | 2.59 | 1.39 | 0.01 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | |||||||||
Depreciation/Fixed assets |
0.44 | 0.25 | 0.06 | 0.23 | 0.25 | 0.26 | 0.19 | 0.23 | 0.45 |
Cash ROIC |
(3.41%) | (3.75%) | 16.40% | (11.77%) | (26.59%) | (49.78%) | (91.13%) | (80.78%) | (10.83%) |
Accounts Receivable Turnover |
6.99 | 10.72 | 9.73 | 8.66 | 11.24 | 6.45 | 4.36 | 4.49 | 6.01 |
Accounts Payable Turnover |
7.84 | 10.47 | 7.13 | 5.86 | 15.07 | 10.17 | 9.56 | 9.62 | 10.39 |
Inventory Turnover |
2.41 | 3.11 | 2.63 | 1.95 | 2.96 | 3.44 | 5.23 | 6.30 | 7.82 |
Average Days of Payables |
45.72 | 33.27 | 72.97 | 52.44 | 24.48 | 50.95 | 37.29 | 36.79 | 33.08 |
Days of Inventory on Hand |
111.55 | 145.46 | 148.61 | 227.83 | 142.61 | 91.10 | 69.80 | 42.74 | 50.23 |
Average Receivables |
5.50 | 5.19 | 8.74 | 11.36 | 13.73 | 28.73 | 39.01 | 39.85 | 46.05 |
Average Payables |
2.00 | 1.88 | 3.12 | 3.85 | 3.27 | 5.70 | 7.90 | 7.49 | 6.87 |
Average Inventory |
6.50 | 6.32 | 8.45 | 11.57 | 16.66 | 16.86 | 14.45 | 11.44 | 9.13 |
Average Assets |
347.50 | 347.59 | 622.50 | 1,014.36 | 1,019.88 | 889.98 | 758.88 | 600.26 | 526.06 |
Average Common Equity |
(241.50) | (241.36) | 156.46 | 657.15 | 673.68 | 534.10 | 386.19 | 255.38 | 213.74 |
Columns are period end dates