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

27.61 0.78 +2.91%
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) Operating margin

Alert me on Operating margin

Adaptive Biotechnologies Corporation's operating margin over the twelve months to 30 September 2026 was −16.2%, up 4.4 percentage points from fiscal 2025 (−20.6%). Over the past ten years it has ranged from −155.3% (fiscal 2020) to −20.6% (fiscal 2025) — the current reading is the highest in ten years. That is below the Diagnostics & Research industry median of −5.68% and below the Healthcare sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −20.6% 70.21
FY2024 −90.8% 42.50
FY2023 −133.3% (25.30)
FY2022 −108.0% 27.36
FY2021 −135.4% 19.94
FY2020 −155.3% (63.18)
FY2019 −92.2% (2.76)
FY2018 −89.4% 26.29
FY2017 −115.7% —

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 −0.54% 21.50
Jun 2026 −22.0% 5.06
Mar 2026 −27.1% (9.28)
Dec 2025 −17.8% (28.77)
29 more quarters

Against its own ten years

Low −155.3% High −20.6%
Ten-year median −108.0%
Current reading's percentile 93

Operating margin against peers

Company Operating margin
SHC Sotera Health Company compare 32.7%
CDNA CareDx, Inc. compare 23.4%
VCYT Veracyte, Inc. compare 17.1%
BLLN BillionToOne, Inc. compare 10.2%
RDNT RadNet, Inc. compare 3.12%
NEO NeoGenomics, Inc. compare −6.27%
ADPT Adaptive Biotechnologies Corporation −16.2%
WGS GeneDx Holdings Corp. compare −20.3%
GRAL GRAIL, Inc. compare −347.3%
Diagnostics & Research industry median −5.68%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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