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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and JBG SMITH Properties (JBGS). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $71.7M, roughly 1.8× Adaptive Biotechnologies Corp). Adaptive Biotechnologies Corp runs the higher net margin — -18.9% vs -35.7%, a 16.8% gap on every dollar of revenue. On growth, Adaptive Biotechnologies Corp posted the faster year-over-year revenue change (51.0% vs -2.5%). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (30.8% CAGR vs -6.3%).
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.
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
ADPT vs JBGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $71.7M | $127.6M |
| Net Profit | $-13.6M | $-45.5M |
| Gross Margin | 74.6% | — |
| Operating Margin | -17.8% | -47.5% |
| Net Margin | -18.9% | -35.7% |
| Revenue YoY | 51.0% | -2.5% |
| Net Profit YoY | 59.7% | 24.0% |
| EPS (diluted) | $-0.08 | $-0.76 |
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.
| Q4 25 | $71.7M | $127.6M | ||
| Q3 25 | $94.0M | $123.9M | ||
| Q2 25 | $58.9M | $126.5M | ||
| Q1 25 | $52.4M | $120.7M | ||
| Q4 24 | $47.5M | $130.8M | ||
| Q3 24 | $46.4M | $136.0M | ||
| Q2 24 | $43.2M | $135.3M | ||
| Q1 24 | $41.9M | $145.2M |
| Q4 25 | $-13.6M | $-45.5M | ||
| Q3 25 | $9.5M | $-28.6M | ||
| Q2 25 | $-25.6M | $-19.2M | ||
| Q1 25 | $-29.9M | $-45.7M | ||
| Q4 24 | $-33.7M | $-59.9M | ||
| Q3 24 | $-32.1M | $-27.0M | ||
| Q2 24 | $-46.2M | $-24.4M | ||
| Q1 24 | $-47.5M | $-32.3M |
| 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% | — | ||
| Q1 24 | 56.9% | — |
| Q4 25 | -17.8% | -47.5% | ||
| Q3 25 | 10.9% | -27.5% | ||
| Q2 25 | -42.5% | -18.4% | ||
| Q1 25 | -56.4% | -44.7% | ||
| Q4 24 | -71.3% | -53.6% | ||
| Q3 24 | -70.3% | -22.4% | ||
| Q2 24 | -109.6% | -24.3% | ||
| Q1 24 | -116.5% | -30.1% |
| Q4 25 | -18.9% | -35.7% | ||
| Q3 25 | 10.2% | -23.1% | ||
| Q2 25 | -43.5% | -15.2% | ||
| Q1 25 | -56.9% | -37.9% | ||
| Q4 24 | -71.0% | -45.8% | ||
| Q3 24 | -69.1% | -19.8% | ||
| Q2 24 | -107.0% | -18.0% | ||
| Q1 24 | -113.5% | -22.2% |
| Q4 25 | $-0.08 | $-0.76 | ||
| Q3 25 | $0.06 | $-0.48 | ||
| Q2 25 | $-0.17 | $-0.29 | ||
| Q1 25 | $-0.20 | $-0.56 | ||
| Q4 24 | $-0.22 | $-0.70 | ||
| Q3 24 | $-0.22 | $-0.32 | ||
| Q2 24 | $-0.31 | $-0.27 | ||
| Q1 24 | $-0.33 | $-0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $70.5M | $75.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $218.8M | $1.2B |
| Total Assets | $512.7M | $4.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $75.3M | ||
| Q3 25 | $55.0M | $64.4M | ||
| Q2 25 | $43.2M | $61.4M | ||
| Q1 25 | $50.6M | $81.3M | ||
| Q4 24 | $47.9M | $145.8M | ||
| Q3 24 | $38.1M | $137.0M | ||
| Q2 24 | $59.8M | $163.5M | ||
| Q1 24 | $71.2M | $220.5M |
| Q4 25 | $218.8M | $1.2B | ||
| Q3 25 | $204.4M | $1.2B | ||
| Q2 25 | $179.7M | $1.3B | ||
| Q1 25 | $190.4M | $1.6B | ||
| Q4 24 | $202.7M | $1.8B | ||
| Q3 24 | $223.8M | $1.9B | ||
| Q2 24 | $241.6M | $2.0B | ||
| Q1 24 | $274.9M | $2.1B |
| Q4 25 | $512.7M | $4.4B | ||
| Q3 25 | $490.6M | $4.4B | ||
| Q2 25 | $496.6M | $4.5B | ||
| Q1 25 | $510.9M | $4.7B | ||
| Q4 24 | $539.4M | $5.0B | ||
| Q3 24 | $558.5M | $5.2B | ||
| Q2 24 | $584.9M | $5.3B | ||
| Q1 24 | $620.3M | $5.4B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.1M | $73.3M |
| Free Cash FlowOCF − Capex | $1.4M | — |
| FCF MarginFCF / Revenue | 2.0% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-48.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1M | $73.3M | ||
| Q3 25 | $-7.1M | $8.9M | ||
| Q2 25 | $-12.4M | $18.8M | ||
| Q1 25 | $-28.5M | $12.9M | ||
| Q4 24 | $-12.5M | $129.4M | ||
| Q3 24 | $-27.1M | $26.4M | ||
| Q2 24 | $-17.3M | $23.8M | ||
| Q1 24 | $-38.4M | $37.0M |
| Q4 25 | $1.4M | — | ||
| Q3 25 | $-7.5M | — | ||
| Q2 25 | $-13.1M | — | ||
| Q1 25 | $-29.7M | — | ||
| Q4 24 | $-12.6M | — | ||
| Q3 24 | $-27.4M | — | ||
| Q2 24 | $-19.0M | — | ||
| Q1 24 | $-39.9M | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | -8.0% | — | ||
| Q2 25 | -22.2% | — | ||
| Q1 25 | -56.7% | — | ||
| Q4 24 | -26.5% | — | ||
| Q3 24 | -59.0% | — | ||
| Q2 24 | -44.1% | — | ||
| Q1 24 | -95.2% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 4.0% | — | ||
| Q1 24 | 3.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.75× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADPT
| Mrd Business Segment | $61.9M | 86% |
| Immune Medicine Business | $9.8M | 14% |
| Immune Medicine Service Revenue | $100.0K | 0% |
JBGS
Segment breakdown not available.
