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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
Adaptive Biotechnologies Corp is the larger business by last-quarter revenue ($71.7M vs $71.1M, roughly 1.0× RE/MAX Holdings, Inc.). RE/MAX Holdings, Inc. runs the higher net margin — 2.0% vs -18.9%, a 21.0% gap on every dollar of revenue. On growth, Adaptive Biotechnologies Corp posted the faster year-over-year revenue change (51.0% vs -1.8%). RE/MAX Holdings, Inc. produced more free cash flow last quarter ($33.5M vs $1.4M). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (30.8% CAGR vs -4.7%).
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.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
ADPT vs RMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $71.7M | $71.1M |
| Net Profit | $-13.6M | $1.4M |
| Gross Margin | 74.6% | — |
| Operating Margin | -17.8% | 13.1% |
| Net Margin | -18.9% | 2.0% |
| Revenue YoY | 51.0% | -1.8% |
| Net Profit YoY | 59.7% | -75.2% |
| EPS (diluted) | $-0.08 | — |
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 | $71.1M | ||
| Q3 25 | $94.0M | $73.2M | ||
| Q2 25 | $58.9M | $72.8M | ||
| Q1 25 | $52.4M | $74.5M | ||
| Q4 24 | $47.5M | $72.5M | ||
| Q3 24 | $46.4M | $78.5M | ||
| Q2 24 | $43.2M | $78.5M | ||
| Q1 24 | $41.9M | $78.3M |
| Q4 25 | $-13.6M | $1.4M | ||
| Q3 25 | $9.5M | $4.0M | ||
| Q2 25 | $-25.6M | $4.7M | ||
| Q1 25 | $-29.9M | $-2.0M | ||
| Q4 24 | $-33.7M | $5.8M | ||
| Q3 24 | $-32.1M | $966.0K | ||
| Q2 24 | $-46.2M | $3.7M | ||
| Q1 24 | $-47.5M | $-3.4M |
| 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% | 13.1% | ||
| Q3 25 | 10.9% | 25.0% | ||
| Q2 25 | -42.5% | 19.3% | ||
| Q1 25 | -56.4% | 7.2% | ||
| Q4 24 | -71.3% | 5.9% | ||
| Q3 24 | -70.3% | 19.4% | ||
| Q2 24 | -109.6% | 20.6% | ||
| Q1 24 | -116.5% | 5.8% |
| Q4 25 | -18.9% | 2.0% | ||
| Q3 25 | 10.2% | 5.4% | ||
| Q2 25 | -43.5% | 6.4% | ||
| Q1 25 | -56.9% | -2.6% | ||
| Q4 24 | -71.0% | 8.0% | ||
| Q3 24 | -69.1% | 1.2% | ||
| Q2 24 | -107.0% | 4.7% | ||
| Q1 24 | -113.5% | -4.3% |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.06 | — | ||
| Q2 25 | $-0.17 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $-0.22 | — | ||
| Q3 24 | $-0.22 | — | ||
| Q2 24 | $-0.31 | — | ||
| Q1 24 | $-0.33 | — |
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 | $118.7M |
| Total DebtLower is stronger | — | $432.2M |
| Stockholders' EquityBook value | $218.8M | $452.4M |
| Total Assets | $512.7M | $582.5M |
| Debt / EquityLower = less leverage | — | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $118.7M | ||
| Q3 25 | $55.0M | $107.5M | ||
| Q2 25 | $43.2M | $94.3M | ||
| Q1 25 | $50.6M | $89.1M | ||
| Q4 24 | $47.9M | $96.6M | ||
| Q3 24 | $38.1M | $83.8M | ||
| Q2 24 | $59.8M | $66.1M | ||
| Q1 24 | $71.2M | $82.1M |
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
| Q4 25 | $218.8M | $452.4M | ||
| Q3 25 | $204.4M | $448.1M | ||
| Q2 25 | $179.7M | $442.4M | ||
| Q1 25 | $190.4M | $433.5M | ||
| Q4 24 | $202.7M | $429.5M | ||
| Q3 24 | $223.8M | $423.1M | ||
| Q2 24 | $241.6M | $418.4M | ||
| Q1 24 | $274.9M | $412.0M |
| Q4 25 | $512.7M | $582.5M | ||
| Q3 25 | $490.6M | $582.2M | ||
| Q2 25 | $496.6M | $574.8M | ||
| Q1 25 | $510.9M | $571.4M | ||
| Q4 24 | $539.4M | $581.6M | ||
| Q3 24 | $558.5M | $578.6M | ||
| Q2 24 | $584.9M | $571.4M | ||
| Q1 24 | $620.3M | $566.7M |
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | $40.9M |
| Free Cash FlowOCF − Capex | $1.4M | $33.5M |
| FCF MarginFCF / Revenue | 2.0% | 47.1% |
| Capex IntensityCapex / Revenue | 0.9% | 10.4% |
| Cash ConversionOCF / Net Profit | — | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | $-48.9M | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1M | $40.9M | ||
| Q3 25 | $-7.1M | $17.7M | ||
| Q2 25 | $-12.4M | $4.6M | ||
| Q1 25 | $-28.5M | $5.7M | ||
| Q4 24 | $-12.5M | $59.7M | ||
| Q3 24 | $-27.1M | $17.6M | ||
| Q2 24 | $-17.3M | $15.9M | ||
| Q1 24 | $-38.4M | $9.4M |
| Q4 25 | $1.4M | $33.5M | ||
| Q3 25 | $-7.5M | $16.4M | ||
| Q2 25 | $-13.1M | $2.9M | ||
| Q1 25 | $-29.7M | $4.0M | ||
| Q4 24 | $-12.6M | $53.0M | ||
| Q3 24 | $-27.4M | $16.3M | ||
| Q2 24 | $-19.0M | $14.0M | ||
| Q1 24 | $-39.9M | $6.8M |
| Q4 25 | 2.0% | 47.1% | ||
| Q3 25 | -8.0% | 22.4% | ||
| Q2 25 | -22.2% | 4.0% | ||
| Q1 25 | -56.7% | 5.3% | ||
| Q4 24 | -26.5% | 73.2% | ||
| Q3 24 | -59.0% | 20.8% | ||
| Q2 24 | -44.1% | 17.8% | ||
| Q1 24 | -95.2% | 8.6% |
| Q4 25 | 0.9% | 10.4% | ||
| Q3 25 | 0.4% | 1.8% | ||
| Q2 25 | 1.1% | 2.2% | ||
| Q1 25 | 2.4% | 2.3% | ||
| Q4 24 | 0.2% | 9.1% | ||
| Q3 24 | 0.7% | 1.7% | ||
| Q2 24 | 4.0% | 2.4% | ||
| Q1 24 | 3.6% | 3.3% |
| Q4 25 | — | 28.39× | ||
| Q3 25 | -0.75× | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| 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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
