Saturday 17 October 2026 Export ADPT’s income statement to Excel — free account

Adaptive Biotechnologies Corporation

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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Market cap: $4.1B
P/E: 0.0×
Fwd P/E: −36.6×
Dividend yield: —
F-score: 6/9
Altman Z: 2.08
Beneish M: −2.44
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 125.01

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	6	5	5	4	16	10	1	7	7	5	2	5

Insider Ownership 3.12%

Capital & Financial Ratios $m

Market Cap 4,080.00

Revenue 308.08

Net Income (63.99)

Free Cash Flow (24.03)

Net Debt (9.38)

Current Ratio 4.79

Debt/Equity 2.22

P/E ratio 0.00

Fwd P/E (36.60)

P/S ratio 12.46

P/B ratio 25.49

Past 5Y EPS Growth —

This Y EPS Growth (39.23%)

Next Y EPS Growth 69.26%

Next Y revenue growth 5.93%

Next 5Y EPS Growth 41.57%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 63.81%

10-year low 10-year high

P/B against its own 10 years 97.07%

10-year low 10-year high

EV/Sales against its own 10 years 65.16%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	346	222	227	344
Receivables	38	42	50	50
Inventory	14	8	10	10
Other	—	—	—	—
	410	284	300	421

	2023	2024	2025	Q'26
Payables	8	7	6	5
ST’ Debt	—	—	—	—
Other	—	1	5	—
	88	98	90	88

Compound Annual Growth %

	10y	5y	3y
Sales	—	23.00%	14.34%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	(21.26%)	(21.44%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	71	72	—	—	—
’25	52	59	94	72	277
’24	42	43	46	47	179
’23	38	49	38	46	170
’22	39	44	48	55	185
’21	38	39	39	38	154
’20	21	21	26	30	98

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(10)	(6)	—	—	—
’25	(28)	(12)	(7)	2	(46)
’24	(38)	(17)	(27)	(12)	(95)
’23	(59)	(24)	(47)	(27)	(156)
’22	(64)	(47)	(42)	(30)	(184)
’21	(58)	(37)	(43)	(54)	(193)
’20	(32)	(31)	(47)	(40)	(150)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(10)	(8)	—	—	—
’25	(30)	(13)	(8)	1	(49)
’24	(40)	(19)	(27)	(13)	(343)
’23	(62)	(27)	(49)	(28)	(597)
’22	(68)	(52)	(48)	(33)	(479)
’21	(74)	(59)	(58)	(63)	(254)
’20	(35)	(33)	(51)	(49)	(168)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.13)	(0.25)	—	—	—
’25	(0.20)	(0.17)	0.06	(0.09)	(0.39)
’24	(0.33)	(0.31)	(0.22)	(0.23)	(1.08)
’23	(0.40)	(0.33)	(0.35)	(0.48)	(1.56)
’22	(0.44)	(0.37)	(0.32)	(0.28)	(1.40)
’21	(0.29)	(0.35)	(0.40)	(0.43)	(1.48)
’20	(0.25)	(0.26)	(0.27)	(0.33)	(1.11)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	24.05	15.19	24.01	5.96	2.61	2.28	5.96	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	55.12	65.69	71.25	28.92	10.79	7.07	20.76
People
People	Employees	—	—	346	453	622	858	790	709	619	624
	Revenue/emp, $m	—	0.00	0.16	0.19	0.16	0.18	0.23	0.24	0.29	0.44
Income, $m
Income, $m	Revenue	—	38	56	85	98	154	185	170	179	277
	Gross margin, %	—	59.22	64.67	73.82	77.10	68.06	68.75	55.63	59.72	74.24
	EBT	—	(43)	(46)	(69)	(146)	(207)	(200)	(225)	(160)	(59)
	EBT margin, %	—	(111.40)	(83.44)	(80.65)	(148.63)	(134.31)	(108.13)	(132.32)	(89.18)	(21.47)
	Net income	—	(43)	(46)	(69)	(146)	(207)	(200)	(225)	(160)	(59)
	Depreciation	—	6	5	3	9	21	22	13	11	15
Per share, $
Per share, $	Revenue	—	3.15	4.41	1.23	0.75	1.10	1.30	1.18	1.22	1.83
	Earnings	—	(3.51)	(3.68)	(1.01)	(1.11)	(1.48)	(1.40)	(1.56)	(1.08)	(0.39)
	Cash flow	—	(2.86)	(2.55)	2.97	(1.14)	(1.37)	(1.29)	(1.08)	(0.65)	(0.30)
	Capex	—	(0.19)	(0.50)	(0.16)	(0.14)	(0.44)	(2.07)	(3.05)	(1.69)	(0.02)
	Free cash flow	—	(3.05)	(3.05)	2.81	(1.28)	(1.81)	(3.36)	(4.13)	(2.33)	(0.32)
	Book value	—	27.61	23.97	8.26	5.66	4.30	3.26	2.14	1.38	1.48
	Shares, m	—	12	13	69	131	140	143	144	147	152
Valuation, ×
Valuation, ×	P/E	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	—	0.00	0.00	24.33	78.86	25.52	6.00	4.04	4.93	8.90
	P/B	—	0.00	0.00	3.62	10.44	6.52	2.40	2.23	4.36	10.95
	EV/Sales	—	0.00	0.00	17.98	72.93	23.92	4.52	3.29	4.91	8.87
	EV/FCF	—	1.50	1.50	7.87	(42.58)	(14.51)	(4.18)	(3.36)	(8.89)	(50.17)
Cash, $m
Cash, $m	Operating cash flow	—	(35)	(32)	205	(150)	(193)	(184)	(156)	(95)	(46)
	Capex	—	(2)	(6)	(11)	(19)	(62)	(295)	(440)	(248)	(3)
	Free cash flow	—	(37)	(39)	194	(168)	(254)	(479)	(597)	(343)	(49)
Balance, $m
Balance, $m	Working capital	—	184	158	534	622	289	452	322	186	210
	Total debt	—	562	561	37	104	107	224	—	—	—
	Net debt	—	370	396	(540)	(688)	(353)	(498)	(346)	(222)	(227)
	Shareholders’ equity	—	337	303	571	743	604	464	308	202	225
Returns, %
Returns, %	ROA	—	(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
	ROE	—	17.68	19.20	(44.46)	(22.25)	(30.77)	(37.48)	(58.33)	(62.45)	(27.84)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GRAL GRAIL, Inc.	$6.1B	— (loss-making)	— (loss-making)	+25.72% (above 0%: growing)	n/m	−4.95% (below 0%: shrinking)	(28.12%)	(388.89%)	Compare
RDNT RadNet, Inc.	$5.5B	— (loss-making)	279×	+24.99% (above 0%: growing)	−47.37% (below 0%: shrinking)	−43.22% (below 0%: shrinking)	14.14%	6.34%	Compare
SHC Sotera Health Company	$5.2B	31.4×	23.7×	+9.18% (above 0%: growing)	+533.33% (above 0%: growing)	+60.56% (above 0%: growing)	55.38%	33.23%	Compare
BLLN BillionToOne, Inc.	$4.9B	95.0×	99.4×	+64.40% (above 0%: growing)	n/m	+400.65% (above 0%: growing)	70.45%	5.03%	Compare
ADPT Adaptive Biotechnologies Corporation	$4.1B	— (loss-making)	— (loss-making)	+21.53% (above 0%: growing)	n/m	+42.04% (above 0%: growing)	71.82%	(22.04%)
VCYT Veracyte, Inc.	$3.6B	29.9×	45.1×	+15.49% (above 0%: growing)	n/m	+32.95% (above 0%: growing)	72.21%	15.29%	Compare
CDNA CareDx, Inc.	$3.5B	29.7×	2,967×	+52.23% (above 0%: growing)	n/m	+223.42% (above 0%: growing)	73.50%	85.81%	Compare
NEO NeoGenomics, Inc.	$2.2B	— (loss-making)	— (loss-making)	+11.21% (above 0%: growing)	n/m	−16.18% (below 0%: shrinking)	45.56%	(4.85%)	Compare
WGS GeneDx Holdings Corp.	$2.1B	— (loss-making)	— (loss-making)	+11.44% (above 0%: growing)	n/m	−585.59% (below 0%: shrinking)	68.37%	(15.25%)	Compare
Median of peers	$4.2B	30.7×	99.4×	+20.24%	—	+14.00%	61.87%	5.69%

All 52 Diagnostics & Research stocks →

Adaptive Biotechnologies Corporation (ADPT) key facts

Concern: Adaptive Biotechnologies Corporation reported a net loss of $59.5 million, or a loss of $0.39 per share, for fiscal 2025.
Strength: Adaptive Biotechnologies Corporation’s revenue for fiscal 2025 (year ended December 2025) was $277.0 million, up 54.8% from fiscal 2024.
Adaptive Biotechnologies Corporation (ADPT) is a Diagnostics & Research company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, ADPT traded at $24.02, a market capitalization of $4.1 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 12.5× sales.
Return on equity was −27.8% and debt-to-equity 2.22.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.08 (grey zone) for fiscal 2025.