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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and Ouster, Inc. (OUST). Click either name above to swap in a different company.
Adaptive Biotechnologies Corp is the larger business by last-quarter revenue ($70.9M vs $48.6M, roughly 1.5× Ouster, Inc.). Ouster, Inc. runs the higher net margin — 8.2% vs 4.7%, a 3.5% gap on every dollar of revenue. On growth, Ouster, Inc. posted the faster year-over-year revenue change (48.9% vs 35.1%). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (34.2% CAGR vs 28.1%).
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.
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
ADPT vs OUST — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $70.9M | $48.6M |
| Net Profit | $3.4M | $4.0M |
| Gross Margin | 73.6% | 42.9% |
| Operating Margin | -27.1% | 17.6% |
| Net Margin | 4.7% | 8.2% |
| Revenue YoY | 35.1% | 48.9% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.06 |
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.
| Q1 26 | $70.9M | $48.6M | ||
| Q4 25 | $71.7M | $62.2M | ||
| Q3 25 | $94.0M | $39.5M | ||
| Q2 25 | $58.9M | $35.0M | ||
| Q1 25 | $52.4M | $32.6M | ||
| Q4 24 | $47.5M | $30.1M | ||
| Q3 24 | $46.4M | $28.1M | ||
| Q2 24 | $43.2M | $27.0M |
| Q1 26 | $3.4M | $4.0M | ||
| Q4 25 | $-13.6M | — | ||
| Q3 25 | $9.5M | $-21.7M | ||
| Q2 25 | $-25.6M | $-20.6M | ||
| Q1 25 | $-29.9M | $-22.0M | ||
| Q4 24 | $-33.7M | — | ||
| Q3 24 | $-32.1M | $-25.6M | ||
| Q2 24 | $-46.2M | $-23.9M |
| Q1 26 | 73.6% | 42.9% | ||
| Q4 25 | 74.6% | 60.2% | ||
| Q3 25 | 80.7% | 42.1% | ||
| Q2 25 | 69.4% | 45.2% | ||
| Q1 25 | 67.6% | 41.3% | ||
| Q4 24 | 62.0% | 43.8% | ||
| Q3 24 | 64.1% | 38.3% | ||
| Q2 24 | 55.3% | 33.7% |
| Q1 26 | -27.1% | 17.6% | ||
| Q4 25 | -17.8% | 1.5% | ||
| Q3 25 | 10.9% | -61.4% | ||
| Q2 25 | -42.5% | -76.5% | ||
| Q1 25 | -56.4% | -73.0% | ||
| Q4 24 | -71.3% | -85.1% | ||
| Q3 24 | -70.3% | -98.0% | ||
| Q2 24 | -109.6% | -93.6% |
| Q1 26 | 4.7% | 8.2% | ||
| Q4 25 | -18.9% | — | ||
| Q3 25 | 10.2% | -55.0% | ||
| Q2 25 | -43.5% | -58.8% | ||
| Q1 25 | -56.9% | -67.5% | ||
| Q4 24 | -71.0% | — | ||
| Q3 24 | -69.1% | -91.1% | ||
| Q2 24 | -107.0% | -88.4% |
| Q1 26 | — | $0.06 | ||
| Q4 25 | $-0.08 | $0.10 | ||
| Q3 25 | $0.06 | $-0.37 | ||
| Q2 25 | $-0.17 | $-0.38 | ||
| Q1 25 | $-0.20 | $-0.42 | ||
| Q4 24 | $-0.22 | $-0.46 | ||
| Q3 24 | $-0.22 | $-0.54 | ||
| Q2 24 | $-0.31 | $-0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $77.6M | $173.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $275.6M |
| Total Assets | $505.9M | $381.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $77.6M | $173.1M | ||
| Q4 25 | $70.5M | $208.6M | ||
| Q3 25 | $55.0M | $244.5M | ||
| Q2 25 | $43.2M | $226.5M | ||
| Q1 25 | $50.6M | $168.2M | ||
| Q4 24 | $47.9M | $172.0M | ||
| Q3 24 | $38.1M | $151.4M | ||
| Q2 24 | $59.8M | $184.2M |
| Q1 26 | — | $275.6M | ||
| Q4 25 | $218.8M | $261.7M | ||
| Q3 25 | $204.4M | $247.4M | ||
| Q2 25 | $179.7M | $221.0M | ||
| Q1 25 | $190.4M | $167.9M | ||
| Q4 24 | $202.7M | $180.9M | ||
| Q3 24 | $223.8M | $171.7M | ||
| Q2 24 | $241.6M | $170.6M |
| Q1 26 | $505.9M | $381.5M | ||
| Q4 25 | $512.7M | $349.5M | ||
| Q3 25 | $490.6M | $353.8M | ||
| Q2 25 | $496.6M | $321.8M | ||
| Q1 25 | $510.9M | $268.6M | ||
| Q4 24 | $539.4M | $276.1M | ||
| Q3 24 | $558.5M | $255.2M | ||
| Q2 24 | $584.9M | $309.9M |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADPT
Segment breakdown not available.
OUST
| Product revenue | $48.2M | 99% |
| Royalties | $347.0K | 1% |
