ADPT Adaptive Biotechnologies Corp
Price Chart
Executive Summary
Adaptive Biotechnologies reported Q1 2026 revenue of $70.9M (up 35% YoY), beating consensus estimates on EPS ($-0.13 vs $-0.16, +18.8% beat). MRD revenue grew 53% to $67.1M, driving a raised full-year MRD guidance range to $260M-$270M. The stock is expected to react positively given accelerating adoption, improved adjusted EBITDA loss narrowing to $2.5M, and raised outlook.
Key Financial Metrics
Actionable Insight
The raised MRD guidance and accelerating test volume confirm strong commercial momentum, likely driving upward revisions. Monitor next quarter's test volume growth and margin expansion as the company approaches profitability.
Key Facts
- Q1 2026 revenue $70.9M, +35% YoY (ex-Genentech +45%)
- MRD revenue $67.1M, +53% YoY; contributed 95% of total revenue
- clonoSEQ test volume 32,595, +41% YoY
- GAAP EPS: -$0.13 vs consensus -$0.16 (beat by 18.8%)
- Adjusted EBITDA loss improved to -$2.5M from -$12.7M YoY
- Full-year 2026 MRD guidance raised to $260M-$270M (from $255M-$265M)
- Immune Medicine revenue declined 57% YoY to $3.8M
- Cash, equivalents and marketable securities $237.2M
Financial Impact
Revenue beat of ~$10M vs consensus (est. $60.9M for prior quarter; Q1 actual $70.9M); EPS beat of 18.8%.
Risk Factors
- Immune Medicine revenue fell 57% YoY, indicating volatility in that segment
- Operating expenses grew 10% YoY, outpacing revenue growth ex-Genentech
- Still GAAP net loss of $20M; profitability timeline uncertain
- Heavy reliance on MRD segment (95% of revenue)
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-206455 |
| Document: adpt-20260505.htm | 0001193125-26-206455 |
| Document: 0001193125-26-206455-index-headers.html | 0001193125-26-206455 |
| Document: 0001193125-26-206455-index.html | 0001193125-26-206455 |
| Document: 0001193125-26-206455.txt | 0001193125-26-206455 |
| 8-K Data (Synthetic) | 0001193125-26-206455 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 5, 2026
15d ago
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8-K
| $14.43 $13.63 | ▼ −5.54% | ▼ −6.67% | $13.96 (−3.26%) |
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Apr 24, 2026
26d ago
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DEFA14A
| $14.21 $14.50 | ▲ +2.04% | ▲ +1.64% | $13.96 (−1.76%) |
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Apr 15, 2026
5w ago
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Press Release
| $14.08 $13.82 | ▼ −1.85% | ▼ −2.83% | $13.96 (−0.85%) |
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Apr 8, 2026
6w ago
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Insider Cluster
| $14.84 $14.53 | ▲ +2.09% | ▲ +5.61% | $13.96 (+5.93%) |
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Apr 8, 2026
6w ago
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Insider Cluster
| $14.84 $14.53 | ▼ −2.09% | ▼ −5.61% | $13.96 (−5.93%) |
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Mar 11, 2026
10w ago
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Insider Cluster
| $14.22 $13.28 | ▲ +6.61% | ▲ +4.42% | $13.96 (+1.83%) |
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Mar 5, 2026
10w ago
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Insider Cluster
| $15.93 $12.45 | ▲ +21.85% | ▲ +19.61% | $13.96 (+12.37%) |
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Mar 3, 2026
11w ago
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Insider Cluster
| $16.08 $14.52 | ▲ +9.70% | ▲ +9.22% | $13.96 (+13.18%) |
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Mar 3, 2026
11w ago
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Insider Cluster
| $16.08 $14.52 | ▼ −9.70% | ▼ −9.22% | $13.96 (−13.18%) |
US Market Status
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