Adaptive Biotechnologies Q3 revenue falls 11% but beats estimates

Adaptive Biotechnologies

04/11/2026 21:53

Overview
U.S. biotech firm's Q3 revenue fell 11% yr/yr but beat analyst expectations
Q3 adjusted EBITDA beat analyst expectations
Company achieved total profitability ahead of plan

Outlook
Adaptive Biotechnologies raises 2026 MRD revenue guidance to $276 mln-$286 mln
Company expects 2026 operating expenses to be about $350 mln, down from prior $350 mln-$355 mln
Company says new multiple myeloma guidelines expected to drive demand for MRD testing

Result Drivers
MRD GROWTH - Co said core MRD revenue rose 44% yr/yr excluding milestones, supporting overall results
clonoSEQ TEST VOLUME - Co reported 46% yr/yr increase in clonoSEQ test volume in Q3

Company press release: ID:nGNX4jbbzY

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$83.90 mln
$71.60 mln (8 Analysts)
Q3 EPS 
 
$0.02
 
Q3 Net Income
 
$2.81 mln
 
Q3 Adjusted EBITDA
Beat
$14.34 mln
-$495,000 (4 Analysts)
Q3 Operating Expenses
 
$84.36 mln
 
Q3 Operating Income
 
-$457,000
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Adaptive Biotechnologies Corporation is $31.00, about 20.2% above its November 3 closing price of $25.80

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Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised
Nov 3 - Amgen Q3 revenue beats expectations on higher volumes

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)