Adaptive Biotechnologies Q3 revenue surges above estimates on MRD business growth

Adaptive Biotechnologies

05/11/2025 21:36

Overview

Adaptive Biotechnologies Q3 revenue grows 102% yr/yr, beating analyst expectations

Adjusted EBITDA for Q3 beats consensus, driven by MRD business profitability

Company raises full-year MRD revenue guidance, indicating confidence in sustained growth

Outlook

Adaptive Biotechnologies raises 2025 MRD revenue guidance to $202 mln-$207 mln

Company lowers 2025 operating expense guidance to $335 mln-$340 mln

Adaptive Biotechnologies reduces 2025 cash burn guidance to $45 mln-$50 mln

Result Drivers

MRD BUSINESS - MRD business reached profitability and cash flow positivity, contributing 60% of revenue

CLONOSEQ TEST VOLUME - clonoSEQ test volume grew 38% in Q3, contributing to MRD revenue growth

GENENTECH AGREEMENT - Revenue includes $33.7 mln from full amortization of terminated Genentech Agreement

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$93.97 mln
$58.90 mln (6 Analysts)
Q3 EPS
$0.06
Q3 Net Income
$9.55 mln
Q3 Adjusted EBITDA
Beat
$28 mln
-$10.40 mln (4 Analysts)
Q3 Operating Expenses
$83.68 mln
Q3 Operating Income
$10.29 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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 Corp is $17.00, about 0.5% above its November 4 closing price of $16.92

Press Release: ID:nGNX7vjFgN

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(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.)