ADPT - Adaptive Biotechnologies Corporation
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$21.25
DETAILS
HIGH:
$22.00
LOW:
$21.00
MEDIAN:
$21.00
CONSENSUS:
$21.25
UPSIDE:
53.10%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Revenue | 277.0 | 179.0 | 170.3 | 185.3 | 154.3 | 98.4 | 85.1 | 55.7 | 38.4 |
| Cost of Revenue | 71.4 | 72.1 | 75.6 | 57.9 | 49.3 | 22.5 | 22.3 | 19.7 | 15.7 |
| Gross Profit | 205.6 | 106.9 | 94.7 | 127.4 | 105.0 | 75.9 | 62.8 | 36.0 | 22.8 |
| Operating Expenses | |||||||||
| R&D Expenses | 93.8 | 103.0 | 122.1 | 141.8 | 142.3 | 116.1 | 70.7 | 39.2 | 32.0 |
| SG&A Expenses | 167.3 | 157.6 | 172.5 | 184.1 | 170.0 | 110.9 | 68.8 | 44.9 | 32.7 |
| Other Expenses | 1.7 | 8.9 | 27.1 | 1.7 | 1.7 | 1.7 | 1.7 | 1.7 | 1.7 |
| Operating Expenses | 262.7 | 269.4 | 321.8 | 327.6 | 314.0 | 228.7 | 141.2 | 85.8 | 66.4 |
| Operating Income | |||||||||
| Operating Income | (57.1) | (162.5) | (227.0) | (200.2) | (209.0) | (152.8) | (78.4) | (49.8) | (44.5) |
| Interest Expense | 11.8 | 11.6 | 13.8 | 4.2 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 9.4 | 14.5 | 15.5 | 4.1 | 1.7 | 6.6 | 9.8 | 3.3 | 1.6 |
| Profitability | |||||||||
| EBITDA | (29.8) | (128.8) | (189.3) | (175.2) | (193.3) | (144.3) | (70.6) | (43.8) | (37.8) |
| EBIT | (47.7) | (148.0) | (211.5) | (196.1) | (207.3) | (152.8) | (78.4) | (49.8) | (43.6) |
| Income Before Tax | (59.5) | (159.6) | (225.3) | (200.4) | (207.3) | (146.2) | (68.6) | (46.4) | (42.8) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (59.5) | (159.5) | (225.2) | (200.2) | (207.3) | (146.2) | (68.6) | (46.4) | (42.8) |
| Per Share Data | |||||||||
| EPS (Basic) | -0.39 | -1.08 | -1.56 | -1.00 | -1.46 | -1.06 | -0.47 | -0.44 | -0.41 |
| EPS (Diluted) | -0.39 | -1.08 | -1.56 | -1.00 | -1.46 | -1.06 | -0.47 | -0.44 | -0.41 |
| Shares Outstanding | 151.7 | 147.1 | 144.4 | 142.5 | 140.4 | 131.2 | 124.3 | 105.4 | 105.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 70.5 | 47.9 | 65.1 | 90.0 | 139.1 | 123.4 | 96.6 | 55.0 | 85.3 |
| Short-Term Investments | 156.5 | 174.4 | 281.3 | 408.2 | 214.0 | 564.8 | 480.3 | 110.0 | 106.8 |
| Net Receivables | 50.4 | 41.7 | 38.0 | 40.1 | 17.4 | 10.0 | 12.7 | 4.8 | 5.6 |
| Inventory | 9.8 | 8.4 | 14.4 | 14.5 | 19.3 | 14.1 | 9.1 | 7.8 | 4.8 |
| Other Current Assets | 13.0 | 11.3 | 11.4 | 9.4 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 300.2 | 283.8 | 410.2 | 562.1 | 402.7 | 726.9 | 612.7 | 180.7 | 205.2 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 74.7 | 94.4 | 120.3 | 164.2 | 172.9 | 139.0 | 60.4 | 19.1 | 14.0 |
| Goodwill | 119.0 | 119.0 | 119.0 | 119.0 | 119.0 | 119.0 | 119.0 | 119.0 | 119.0 |
| Intangible Assets | 1.7 | 3.4 | 5.1 | 6.8 | 8.5 | 10.2 | 11.9 | 13.6 | 15.3 |
| Long-Term Investments | 15.9 | 33.7 | 0 | 0 | 217.1 | 118.5 | 105.4 | 0.2 | 8.9 |
| Other Non-Current Assets | 1.2 | 5.2 | 6.5 | 4.5 | 3.0 | 2.7 | 2.9 | 0.2 | 0.1 |
| Total Non-Current Assets | 212.6 | 255.6 | 250.9 | 294.5 | 520.6 | 389.5 | 299.6 | 152.0 | 157.2 |
| Total Assets | 512.7 | 539.4 | 661.1 | 856.6 | 923.3 | 1,116.4 | 912.3 | 332.7 | 362.5 |
| Current Liabilities | |||||||||
| Account Payables | 6.5 | 7.3 | 7.7 | 8.1 | 3.3 | 3.2 | 4.5 | 1.8 | 2.0 |
| Short-Term Debt | 13.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 45.2 | 55.7 | 48.6 | 64.1 | 80.5 | 73.3 | 61.0 | 12.7 | 14.0 |
| Other Current Liabilities | 7.7 | 16.7 | 13.7 | 15.9 | 15.6 | 11.9 | 8.5 | 3.7 | 1.9 |
| Total Current Liabilities | 89.9 | 98.1 | 88.0 | 109.8 | 113.8 | 105.2 | 78.3 | 22.8 | 21.0 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 196.8 | 0 | 0 | 0 | 0 | 0 | 0 | 561.2 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (561.2) | 0 |
| Other Non-Current Liabilities | (70.2) | 132.4 | 130.7 | 125.4 | 0 | 0 | 7.0 | 6.1 | 566.1 |
| Total Non-Current Liabilities | 197.8 | 238.8 | 264.8 | 282.7 | 205.4 | 268.0 | 262.9 | 568 | 566.1 |
| Total Liabilities | 287.7 | 336.9 | 352.9 | 392.5 | 319.2 | 373.1 | 341.3 | 590.8 | 587.1 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (1,363.3) | (1,303.8) | (1,144.3) | (919.1) | (718.9) | (511.6) | (365.5) | (295.9) | (249.4) |
| Accumulated Other Comprehensive Income | 0.3 | 0.2 | 0.2 | (4.1) | (1.1) | 0.9 | 0.7 | (0.1) | (0.2) |
| Total Stockholders' Equity | 218.8 | 202.7 | 308.4 | 464.2 | 604.0 | 743.3 | 571.0 | (258.1) | (224.6) |
| Total Liabilities & Equity | 512.7 | 539.4 | 661.1 | 856.6 | 923.3 | 1,116.4 | 912.3 | 332.7 | 362.5 |
| Debt Metrics | |||||||||
| Total Debt | 280.6 | 89.4 | 98.8 | 108.0 | 111.7 | 107.9 | 36.6 | 561.2 | 561.7 |
| Net Debt | 210.1 | 41.5 | 33.7 | 18.0 | (27.3) | (15.6) | (60.0) | 506.2 | 476.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | (59.5) | (159.6) | (225.2) | (200.2) | (207.3) | (146.2) | (68.6) | (46.4) | (42.8) |
| Depreciation & Amortization | 0 | 19.3 | 22.2 | 28.1 | 21.0 | 8.5 | 7.8 | 6 | 5.8 |
| Stock-Based Compensation | 51.5 | 53.6 | 0 | 0 | 0 | 24.8 | 13.1 | 11.1 | 7.0 |
| Change in Working Capital | (57.8) | (17.5) | (46.2) | (71.5) | (56.8) | (40.8) | 254.9 | (1.7) | (5.5) |
| Other Non-Cash Items | 19.8 | 9.0 | 92.9 | 59.6 | 50.4 | 3.3 | 0.0 | 0.0 | 0.0 |
| Operating Cash Flow | (46.0) | (95.2) | (156.3) | (183.9) | (192.7) | (149.7) | 205.4 | (32.3) | (34.9) |
| Investing Activities | |||||||||
| Capital Expenditure | (3.0) | (3.7) | (10.7) | (16.3) | (61.7) | (18.8) | (11.2) | (6.3) | (2.5) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 98.2 | 470.5 | 0.0 | 0.1 |
| Purchases of Investments | (181.7) | (244.3) | (429.6) | (278.8) | (316.5) | (695.0) | (884.2) | (146.5) | (125.2) |
| Sales/Maturities of Investments | 222.6 | 325.7 | 569.9 | 298.0 | 559.5 | 596.7 | 413.7 | 153.5 | 163.9 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | (98.2) | (470.5) | 0.0 | 0.1 |
| Investing Cash Flow | 38.0 | 77.8 | 129.6 | 2.9 | 181.2 | (117.0) | (481.7) | 0.7 | 36.4 |
| Financing Activities | |||||||||
| Net Debt Issuance | 0 | 0 | 0 | 124.4 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 0 | 0.4 | 21.4 | (0.9) | 1.2 | 0.2 |
| Financing Cash Flow | 30.4 | 0.2 | 2.2 | 132.3 | 27.1 | 293.6 | 319.9 | 1.2 | 50.0 |
| Cash Position | |||||||||
| Net Change in Cash | 22.4 | (17.2) | (25.0) | (49.0) | 15.6 | 26.9 | 43.6 | (30.3) | 51.6 |
| Cash at Beginning | 50.8 | 68.0 | 90.0 | 139.1 | 123.4 | 98.7 | 55.1 | 85.4 | 33.8 |
| Cash at End | 73.2 | 50.8 | 65.1 | 90.0 | 139.1 | 125.6 | 98.7 | 55.1 | 85.4 |
| Free Cash Flow | (48.9) | (98.9) | (167.0) | (200.3) | (254.5) | (168.5) | 194.2 | (38.6) | (37.4) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 277.0 | 179.0 | 170.3 | 185.3 | 154.3 | 98.4 | 85.1 | 55.7 | 38.4 |
| Gross Profit | 205.6 | 106.9 | 94.7 | 127.4 | 105.0 | 75.9 | 62.8 | 36.0 | 22.8 |
| Operating Income | (57.1) | (162.5) | (227.0) | (200.2) | (209.0) | (152.8) | (78.4) | (49.8) | (44.5) |
| Net Income | (59.5) | (159.5) | (225.2) | (200.2) | (207.3) | (146.2) | (68.6) | (46.4) | (42.8) |
| EPS (Diluted) | -0.39 | -1.08 | -1.56 | -1.00 | -1.46 | -1.06 | -0.47 | -0.44 | -0.41 |
| Balance Sheet | |||||||||
| Cash & Equivalents | 70.5 | 47.9 | 65.1 | 90.0 | 139.1 | 123.4 | 96.6 | 55.0 | 85.3 |
| Total Assets | 512.7 | 539.4 | 661.1 | 856.6 | 923.3 | 1,116.4 | 912.3 | 332.7 | 362.5 |
| Total Debt | 280.6 | 89.4 | 98.8 | 108.0 | 111.7 | 107.9 | 36.6 | 561.2 | 561.7 |
| Stockholders' Equity | 218.8 | 202.7 | 308.4 | 464.2 | 604.0 | 743.3 | 571.0 | (258.1) | (224.6) |
| Cash Flow | |||||||||
| Operating Cash Flow | (46.0) | (95.2) | (156.3) | (183.9) | (192.7) | (149.7) | 205.4 | (32.3) | (34.9) |
| Capital Expenditure | (3.0) | (3.7) | (10.7) | (16.3) | (61.7) | (18.8) | (11.2) | (6.3) | (2.5) |
| Free Cash Flow | (48.9) | (98.9) | (167.0) | (200.3) | (254.5) | (168.5) | 194.2 | (38.6) | (37.4) |