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.

Revenue
−10.7%
EPS
−66.7%
Free cash flow
+201.9%

Quarter to September 2026, against a year earlier

26.96 0.25 +0.94%
Market cap
$4.3B
P/E
0.0×
Fwd P/E
−49.4×
Dividend yield
—
F-score
6/9
Altman Z
2.08
Beneish M
−2.44
Dividend safety
n/a

Adaptive Biotechnologies Corporation (ADPT) Free cash flow margin

Alert me on Free cash flow margin

Adaptive Biotechnologies Corporation's free cash flow margin over the twelve months to 30 September 2026 was −2.96%, up 14.7 percentage points from fiscal 2025 (−17.7%). Over the past ten years it has ranged from −350.4% (fiscal 2023) to 228.3% (fiscal 2019); the current reading is higher than 89% of that period. That is below the Diagnostics & Research industry median of 0.00% and below the Healthcare sector median of 0.00%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 −17.7% 174.07
FY2024 −191.7% 158.62
FY2023 −350.4% (91.83)
FY2022 −258.5% (93.66)
FY2021 −164.9% 6.39
FY2020 −171.3% (399.54)
FY2019 228.3% 297.55
FY2018 −69.3% 27.37
FY2017 −96.6% —

Against its own ten years

Low −350.4% High 228.3%
Ten-year median −164.9%
Current reading's percentile 89

Free cash flow margin against peers

Company Free cash flow margin
VCYT Veracyte, Inc. compare 27.8%
CDNA CareDx, Inc. compare 12.0%
SHC Sotera Health Company compare 11.0%
BLLN BillionToOne, Inc. compare 7.76%
RDNT RadNet, Inc. compare 3.28%
ADPT Adaptive Biotechnologies Corporation −2.96%
NEO NeoGenomics, Inc. compare −3.37%
WGS GeneDx Holdings Corp. compare −16.7%
GRAL GRAIL, Inc. compare −187.3%
Diagnostics & Research industry median 0.00%
Healthcare sector median 0.00%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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