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Adaptive Biotechnologies Corp（ADPT）与Alector, Inc.（ALEC）财务数据对比。点击上方公司名可切换其他公司
Adaptive Biotechnologies Corp的季度营收约是Alector, Inc.的11.5倍（$71.7M vs $6.2M）。Adaptive Biotechnologies Corp净利率更高（-18.9% vs -597.5%，领先578.6%）。Adaptive Biotechnologies Corp同比增速更快（51.0% vs -88.5%）。过去两年Adaptive Biotechnologies Corp的营收复合增速更高（30.8% vs -37.4%）
ExpreS2ion Biotechnologies是一家丹麦生物技术企业，总部位于丹麦霍尔斯霍姆，专注于新型疫苗和免疫疗法产品的研发，在纳斯达克第一北增长市场瑞典板块挂牌上市。
Alector是一家临床阶段生物制药企业，专注于神经退行性疾病的免疫疗法研发，管线覆盖阿尔茨海默病、额颞叶痴呆、帕金森病等未被满足的医疗需求，主要在美国运营，与全球药企合作推进候选药物的临床试验。
ADPT vs ALEC — 直观对比
营收规模更大
ADPT
是对方的11.5倍
$6.2M
营收增速更快
ADPT
高出139.5%
-88.5%
净利率更高
ADPT
高出578.6%
-597.5%
两年增速更快
ADPT
近两年复合增速
-37.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $71.7M | $6.2M |
| 净利润 | $-13.6M | $-37.3M |
| 毛利率 | 74.6% | — |
| 营业利润率 | -17.8% | -634.4% |
| 净利率 | -18.9% | -597.5% |
| 营收同比 | 51.0% | -88.5% |
| 净利润同比 | 59.7% | -1696.9% |
| 每股收益（稀释后） | $-0.08 | $-0.34 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ADPTALEC
| Q4 25 | $71.7M | $6.2M | ||
| Q3 25 | $94.0M | $3.3M | ||
| Q2 25 | $58.9M | $7.9M | ||
| Q1 25 | $52.4M | $3.7M | ||
| Q4 24 | $47.5M | $54.2M | ||
| Q3 24 | $46.4M | $15.3M | ||
| Q2 24 | $43.2M | $15.1M | ||
| Q1 24 | $41.9M | $15.9M |
净利润ADPTALEC
| Q4 25 | $-13.6M | $-37.3M | ||
| Q3 25 | $9.5M | $-34.7M | ||
| Q2 25 | $-25.6M | $-30.5M | ||
| Q1 25 | $-29.9M | $-40.5M | ||
| Q4 24 | $-33.7M | $-2.1M | ||
| Q3 24 | $-32.1M | $-42.2M | ||
| Q2 24 | $-46.2M | $-38.7M | ||
| Q1 24 | $-47.5M | $-36.1M |
毛利率ADPTALEC
| 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% | — |
营业利润率ADPTALEC
| Q4 25 | -17.8% | -634.4% | ||
| Q3 25 | 10.9% | -1153.6% | ||
| Q2 25 | -42.5% | -433.6% | ||
| Q1 25 | -56.4% | -1216.5% | ||
| Q4 24 | -71.3% | -13.4% | ||
| Q3 24 | -70.3% | -315.7% | ||
| Q2 24 | -109.6% | -302.4% | ||
| Q1 24 | -116.5% | -275.0% |
净利率ADPTALEC
| Q4 25 | -18.9% | -597.5% | ||
| Q3 25 | 10.2% | -1063.4% | ||
| Q2 25 | -43.5% | -387.7% | ||
| Q1 25 | -56.9% | -1101.6% | ||
| Q4 24 | -71.0% | -3.8% | ||
| Q3 24 | -69.1% | -275.2% | ||
| Q2 24 | -107.0% | -256.4% | ||
| Q1 24 | -113.5% | -227.0% |
每股收益（稀释后）ADPTALEC
| Q4 25 | $-0.08 | $-0.34 | ||
| Q3 25 | $0.06 | $-0.34 | ||
| Q2 25 | $-0.17 | $-0.30 | ||
| Q1 25 | $-0.20 | $-0.41 | ||
| Q4 24 | $-0.22 | $-0.02 | ||
| Q3 24 | $-0.22 | $-0.43 | ||
| Q2 24 | $-0.31 | $-0.40 | ||
| Q1 24 | $-0.33 | $-0.38 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $70.5M | $256.0M |
| 总债务越低越好 | — | $10.0M |
| 股东权益账面价值 | $218.8M | $30.6M |
| 总资产 | $512.7M | $293.2M |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资ADPTALEC
| Q4 25 | $70.5M | $256.0M | ||
| Q3 25 | $55.0M | $291.1M | ||
| Q2 25 | $43.2M | $307.3M | ||
| Q1 25 | $50.6M | $354.6M | ||
| Q4 24 | $47.9M | $413.4M | ||
| Q3 24 | $38.1M | $457.2M | ||
| Q2 24 | $59.8M | $503.3M | ||
| Q1 24 | $71.2M | $562.1M |
总债务ADPTALEC
| Q4 25 | — | $10.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $10.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADPTALEC
| Q4 25 | $218.8M | $30.6M | ||
| Q3 25 | $204.4M | $57.7M | ||
| Q2 25 | $179.7M | $71.2M | ||
| Q1 25 | $190.4M | $94.6M | ||
| Q4 24 | $202.7M | $126.8M | ||
| Q3 24 | $223.8M | $118.9M | ||
| Q2 24 | $241.6M | $150.6M | ||
| Q1 24 | $274.9M | $178.9M |
总资产ADPTALEC
| Q4 25 | $512.7M | $293.2M | ||
| Q3 25 | $490.6M | $335.3M | ||
| Q2 25 | $496.6M | $356.4M | ||
| Q1 25 | $510.9M | $408.3M | ||
| Q4 24 | $539.4M | $468.3M | ||
| Q3 24 | $558.5M | $516.0M | ||
| Q2 24 | $584.9M | $570.7M | ||
| Q1 24 | $620.3M | $635.5M |
负债/权益比ADPTALEC
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $2.1M | $-41.7M |
| 自由现金流经营现金流 - 资本支出 | $1.4M | — |
| 自由现金流率自由现金流/营收 | 2.0% | — |
| 资本支出强度资本支出/营收 | 0.9% | 0.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-48.9M | — |
8季度趋势，按日历期对齐
经营现金流ADPTALEC
| Q4 25 | $2.1M | $-41.7M | ||
| Q3 25 | $-7.1M | $-32.5M | ||
| Q2 25 | $-12.4M | $-49.0M | ||
| Q1 25 | $-28.5M | $-60.8M | ||
| Q4 24 | $-12.5M | $-55.0M | ||
| Q3 24 | $-27.1M | $-50.7M | ||
| Q2 24 | $-17.3M | $-62.8M | ||
| Q1 24 | $-38.4M | $-61.3M |
自由现金流ADPTALEC
| Q4 25 | $1.4M | — | ||
| Q3 25 | $-7.5M | $-32.5M | ||
| Q2 25 | $-13.1M | $-49.1M | ||
| Q1 25 | $-29.7M | $-60.8M | ||
| Q4 24 | $-12.6M | $-55.2M | ||
| Q3 24 | $-27.4M | $-50.9M | ||
| Q2 24 | $-19.0M | $-63.1M | ||
| Q1 24 | $-39.9M | $-61.9M |
自由现金流率ADPTALEC
| Q4 25 | 2.0% | — | ||
| Q3 25 | -8.0% | -997.6% | ||
| Q2 25 | -22.2% | -623.0% | ||
| Q1 25 | -56.7% | -1655.0% | ||
| Q4 24 | -26.5% | -101.8% | ||
| Q3 24 | -59.0% | -332.1% | ||
| Q2 24 | -44.1% | -418.6% | ||
| Q1 24 | -95.2% | -389.3% |
资本支出强度ADPTALEC
| Q4 25 | 0.9% | 0.0% | ||
| Q3 25 | 0.4% | 0.3% | ||
| Q2 25 | 1.1% | 0.1% | ||
| Q1 25 | 2.4% | 0.5% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.7% | 1.4% | ||
| Q2 24 | 4.0% | 2.2% | ||
| Q1 24 | 3.6% | 3.4% |
现金转化率ADPTALEC
| Q4 25 | — | — | ||
| Q3 25 | -0.75× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ADPT
| Mrd Business Segment | $61.9M | 86% |
| Immune Medicine Business | $9.8M | 14% |
| Immune Medicine Service Revenue | $100.0K | 0% |
ALEC
暂无分部数据
