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NASDAQ:ADPT

Adaptive Biotechnologies Corp

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Adaptive Biotechnologies Corp's revenue grew 54.8% in fiscal 2025 to $277.0M while operating margin rose to −20.6%, its highest in 9 years. Free cash flow was −$48.9M, −17.7% of revenue, and the diluted share count rose 3.1%.Summary generated from Adaptive Biotechnologies Corp's SEC filings. Latest annual report filed Feb 26, 2026.

Key statistics

Fiscal 2025 from SEC filings. Methodology
Revenue (FY25)$277.0M
Revenue growth+54.8%
Revenue, 5-yr CAGR+23.0%
Gross margin74.2%
Operating margin−20.6%
Net margin−21.5%
ROIC−15.9%
Return on equity−28.2%
Debt / equity0.60
Free cash flow−$48.9M
FCF margin−17.7%
Share count change+3.1%

Financials

Fiscal years, $M
Item20212022202320242025
Revenue154185170179277
Operating income−209−200−227−163−57
Net income−207−200−225−159−59
Free cash flow−254−200−167−99−49

Recent filings

From SEC EDGAR

Peers

Biological products, (no diagnostic substances)