Adaptive Biotechnologies CorpADPTEarnings & Financial Report
ExpreS2ion Biotechnologies is a Danish biotechnology company specialised in the development of new vaccines and immunotherapy products based in Hørsholm, Denmark and listed on the Nasdaq First North Growth Market Sweden.
Revenue
$58.9M
Gross Profit
$40.9M
Operating Profit
$-25.0M
Net Profit
$-25.6M
Gross Margin
69.4%
Operating Margin
-42.5%
Net Margin
-43.5%
YoY Growth
36.3%
EPS
$-0.17
Adaptive Biotechnologies Corp Q2 FY2025 Financial Summary
Adaptive Biotechnologies Corp reported revenue of $58.9M (up 36.3% YoY) for Q2 FY2025, with a net profit of $-25.6M (up 44.6% YoY) (-43.5% margin). Cost of goods sold was $18.0M, operating expenses totaled $65.9M.
Key Financial Metrics
| Total Revenue | $58.9M |
|---|---|
| Net Profit | $-25.6M |
| Gross Margin | 69.4% |
| Operating Margin | -42.5% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Adaptive Biotechnologies Corp Q2 FY2025 revenue of $58.9M breaks down across 4 segments, led by Mrd Business Segment at $49.9M (84.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Mrd Business Segment | $49.9M | 84.8% |
| Immune Medicine Service Revenue | $3.9M | 6.6% |
| Other | $2.9M | 5.0% |
| Medicare Reimbursements | $2.1M | 3.6% |
Adaptive Biotechnologies Corp Revenue by Segment — Quarterly Trend
Adaptive Biotechnologies Corp revenue by segment across the last 4 reported quarters, showing how each business line (such as Mrd Business Segment and Immune Medicine Service Revenue) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Mrd Business Segment | — | $61.9M | $56.8M | $49.9M |
| Immune Medicine Service Revenue | — | $100.0K | — | $3.9M |
| Other | — | — | — | $2.9M |
| Medicare Reimbursements | — | — | — | $2.1M |
Adaptive Biotechnologies Corp Annual Revenue by Year
Adaptive Biotechnologies Corp annual revenue history includes year-by-year totals (for example, 2025 revenue was $277.0M).
| Year | Annual Revenue |
|---|---|
| 2025 | $277.0M |
| 2024 | $179.0M |
Adaptive Biotechnologies Corp Quarterly Revenue & Net Profit History
Adaptive Biotechnologies Corp results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $70.9M | +35.1% | $3.4M | 4.7% |
| Q4 FY2025 | $71.7M | +51.0% | $-13.6M | -18.9% |
| Q3 FY2025 | $94.0M | +102.4% | $9.5M | 10.2% |
| Q2 FY2025 | $58.9M | +36.3% | $-25.6M | -43.5% |
| Q1 FY2025 | $52.4M | +25.2% | $-29.9M | -56.9% |
| Q4 FY2024 | $47.5M | +3.7% | $-33.7M | -71.0% |
| Q3 FY2024 | $46.4M | +22.5% | $-32.1M | -69.1% |
| Q2 FY2024 | $43.2M | -11.7% | $-46.2M | -107.0% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $43.2M | $46.4M | $47.5M | $52.4M | $58.9M | $94.0M | $71.7M | $70.9M |
| YoY Growth | -11.7% | 22.5% | 3.7% | 25.2% | 36.3% | 102.4% | 51.0% | 35.1% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $584.9M | $558.5M | $539.4M | $510.9M | $496.6M | $490.6M | $512.7M | $505.9M |
| Liabilities | $343.4M | $334.9M | $336.9M | $320.6M | $317.1M | $286.4M | $287.7M | $281.7M |
| Equity | $241.6M | $223.8M | $202.7M | $190.4M | $179.7M | $204.4M | $218.8M | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $-17.3M | $-27.1M | $-12.5M | $-28.5M | $-12.4M | $-7.1M | $2.1M |