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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and California Resources Corp (CRC). Click either name above to swap in a different company.

California Resources Corp is the larger business by last-quarter revenue ($119.0M vs $70.9M, roughly 1.7× Adaptive Biotechnologies Corp). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (28.1% CAGR vs -46.3%).

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.

California Resources Corporation is an American energy corporation engaged in hydrocarbon exploration in California. It is organized in Delaware and headquartered in Long Beach, California. Its mineral acreage holdings in California constitute the largest privately held position in the state.

ADPT vs CRC — Head-to-Head

Bigger by revenue
CRC
CRC
1.7× larger
CRC
$119.0M
$70.9M
ADPT
Faster 2-yr revenue CAGR
ADPT
ADPT
Annualised
ADPT
28.1%
-46.3%
CRC

Income Statement — Q1 FY2026 vs Q1 FY2026

Metric
ADPT
ADPT
CRC
CRC
Revenue
$70.9M
$119.0M
Net Profit
$3.4M
Gross Margin
73.6%
Operating Margin
-27.1%
-597.5%
Net Margin
4.7%
Revenue YoY
35.1%
Net Profit YoY
EPS (diluted)
$-8.02

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ADPT
ADPT
CRC
CRC
Q1 26
$70.9M
$119.0M
Q4 25
$71.7M
$679.0M
Q3 25
$94.0M
$715.0M
Q2 25
$58.9M
$702.0M
Q1 25
$52.4M
$814.0M
Q4 24
$47.5M
$826.0M
Q3 24
$46.4M
$870.0M
Q2 24
$43.2M
$412.0M
Net Profit
ADPT
ADPT
CRC
CRC
Q1 26
$3.4M
Q4 25
$-13.6M
$12.0M
Q3 25
$9.5M
$64.0M
Q2 25
$-25.6M
$172.0M
Q1 25
$-29.9M
$115.0M
Q4 24
$-33.7M
$33.0M
Q3 24
$-32.1M
$345.0M
Q2 24
$-46.2M
$8.0M
Gross Margin
ADPT
ADPT
CRC
CRC
Q1 26
73.6%
Q4 25
74.6%
Q3 25
80.7%
Q2 25
69.4%
Q1 25
67.6%
Q4 24
62.0%
Q3 24
64.1%
Q2 24
55.3%
Operating Margin
ADPT
ADPT
CRC
CRC
Q1 26
-27.1%
-597.5%
Q4 25
-17.8%
6.9%
Q3 25
10.9%
13.7%
Q2 25
-42.5%
38.0%
Q1 25
-56.4%
22.9%
Q4 24
-71.3%
8.2%
Q3 24
-70.3%
59.5%
Q2 24
-109.6%
9.2%
Net Margin
ADPT
ADPT
CRC
CRC
Q1 26
4.7%
Q4 25
-18.9%
1.8%
Q3 25
10.2%
9.0%
Q2 25
-43.5%
24.5%
Q1 25
-56.9%
14.1%
Q4 24
-71.0%
4.0%
Q3 24
-69.1%
39.7%
Q2 24
-107.0%
1.9%
EPS (diluted)
ADPT
ADPT
CRC
CRC
Q1 26
$-8.02
Q4 25
$-0.08
$0.21
Q3 25
$0.06
$0.76
Q2 25
$-0.17
$1.92
Q1 25
$-0.20
$1.26
Q4 24
$-0.22
$0.87
Q3 24
$-0.22
$3.78
Q2 24
$-0.31
$0.11

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ADPT
ADPT
CRC
CRC
Cash + ST InvestmentsLiquidity on hand
$77.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.9B
Total Assets
$505.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ADPT
ADPT
CRC
CRC
Q1 26
$77.6M
Q4 25
$70.5M
$132.0M
Q3 25
$55.0M
$196.0M
Q2 25
$43.2M
$72.0M
Q1 25
$50.6M
$214.0M
Q4 24
$47.9M
$372.0M
Q3 24
$38.1M
$241.0M
Q2 24
$59.8M
$1.0B
Total Debt
ADPT
ADPT
CRC
CRC
Q1 26
Q4 25
Q3 25
$1.0B
Q2 25
$1.0B
Q1 25
$1.0B
Q4 24
$1.1B
Q3 24
$1.1B
Q2 24
$1.2B
Stockholders' Equity
ADPT
ADPT
CRC
CRC
Q1 26
$2.9B
Q4 25
$218.8M
$3.7B
Q3 25
$204.4M
$3.4B
Q2 25
$179.7M
$3.4B
Q1 25
$190.4M
$3.5B
Q4 24
$202.7M
$3.5B
Q3 24
$223.8M
$3.5B
Q2 24
$241.6M
$2.1B
Total Assets
ADPT
ADPT
CRC
CRC
Q1 26
$505.9M
Q4 25
$512.7M
$7.4B
Q3 25
$490.6M
$6.8B
Q2 25
$496.6M
$6.7B
Q1 25
$510.9M
$6.8B
Q4 24
$539.4M
$7.1B
Q3 24
$558.5M
$7.1B
Q2 24
$584.9M
$4.5B
Debt / Equity
ADPT
ADPT
CRC
CRC
Q1 26
Q4 25
Q3 25
0.29×
Q2 25
0.30×
Q1 25
0.29×
Q4 24
0.32×
Q3 24
0.32×
Q2 24
0.57×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ADPT
ADPT
CRC
CRC
Operating Cash FlowLast quarter
$99.0M
Free Cash FlowOCF − Capex
$-32.0M
FCF MarginFCF / Revenue
-26.9%
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$380.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ADPT
ADPT
CRC
CRC
Q1 26
$99.0M
Q4 25
$2.1M
$235.0M
Q3 25
$-7.1M
$279.0M
Q2 25
$-12.4M
$165.0M
Q1 25
$-28.5M
$186.0M
Q4 24
$-12.5M
$206.0M
Q3 24
$-27.1M
$220.0M
Q2 24
$-17.3M
$97.0M
Free Cash Flow
ADPT
ADPT
CRC
CRC
Q1 26
$-32.0M
Q4 25
$1.4M
$115.0M
Q3 25
$-7.5M
$188.0M
Q2 25
$-13.1M
$109.0M
Q1 25
$-29.7M
$131.0M
Q4 24
$-12.6M
$118.0M
Q3 24
$-27.4M
$141.0M
Q2 24
$-19.0M
$63.0M
FCF Margin
ADPT
ADPT
CRC
CRC
Q1 26
-26.9%
Q4 25
2.0%
16.9%
Q3 25
-8.0%
26.3%
Q2 25
-22.2%
15.5%
Q1 25
-56.7%
16.1%
Q4 24
-26.5%
14.3%
Q3 24
-59.0%
16.2%
Q2 24
-44.1%
15.3%
Capex Intensity
ADPT
ADPT
CRC
CRC
Q1 26
Q4 25
0.9%
17.7%
Q3 25
0.4%
12.7%
Q2 25
1.1%
8.0%
Q1 25
2.4%
6.8%
Q4 24
0.2%
10.7%
Q3 24
0.7%
9.1%
Q2 24
4.0%
8.3%
Cash Conversion
ADPT
ADPT
CRC
CRC
Q1 26
Q4 25
19.58×
Q3 25
-0.75×
4.36×
Q2 25
0.96×
Q1 25
1.62×
Q4 24
6.24×
Q3 24
0.64×
Q2 24
12.13×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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