Adaptive Biotechnologies reports 2025 revenue rose 51% to $72 million in Q4; MRD revenue also increased significantly.
Quiver AI Summary
Adaptive Biotechnologies Corporation announced preliminary results for the fourth quarter and full year of 2025, reporting total revenues of approximately $72 million and $277 million, marking increases of 51% and 55% respectively from 2024. Minimal Residual Disease (MRD) revenue also showed strong growth, with fourth-quarter and full-year revenues reaching around $62 million and $212 million, representing increases of 54% and 46%, respectively. The company noted a 43% increase in clonoSEQ test volume in the fourth quarter, totaling approximately 30,000 tests, and ended the year with about 105,600 tests delivered. CEO Chad Robins highlighted the year as pivotal for the company, driven by strong growth in MRD testing. Adaptive plans to release finalized financial results in February 2026.
Potential Positives
- Total revenue for Q4 and full year 2025 was approximately $72 million and $277 million, representing significant increases of 51% and 55% respectively over 2024.
- MRD revenue for Q4 and full year 2025 was approximately $62 million and $212 million, showing growth of 54% and 46% respectively compared to 2024.
- clonoSEQ test volume increased by 43%, with approximately 30,000 tests conducted in Q4 2025, contributing to a total of about 105,600 tests delivered for the year, up 39% from 2024.
- Cash, cash equivalents, and marketable securities reached approximately $227 million as of December 31, 2025, providing a strong financial position for future growth.
Potential Negatives
- Preliminary financial results are unaudited and subject to change, which introduces uncertainty regarding the accuracy of the reported figures.
- The company has not disclosed estimated expenses, raising questions about profitability and potential net loss despite indicating it may decrease.
- The reliance on management estimates for financial results increases the risk of discrepancies in final reported figures, which may erode investor confidence.
FAQ
What were Adaptive Biotechnologies' fourth quarter financial results for 2025?
Total revenue was approximately $72 million, representing a 51% increase compared to the fourth quarter of 2024.
How much did MRD revenue grow in 2025?
MRD revenue for the year was approximately $212 million, an increase of 46% over 2024.
What were the clonoSEQ test volume statistics for 2025?
clonoSEQ test volume increased to approximately 30,000 tests in Q4 2025, totaling around 105,600 tests for the year.
When will Adaptive Biotechnologies release complete financial results for 2025?
The complete financial results will be released during an earnings call in February 2026.
What are Adaptive Biotechnologies' goals for 2026?
They aim to extend leadership in MRD testing and sustain growth in clonoSEQ volume and profitability.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ADPT Insider Trading Activity
$ADPT insiders have traded $ADPT stock on the open market 19 times in the past 6 months. Of those trades, 0 have been purchases and 19 have been sales.
Here’s a breakdown of recent trading of $ADPT stock by insiders over the last 6 months:
- SHARON BENZENO (Chief Commercial Ofc Imm Med) has made 0 purchases and 3 sales selling 619,006 shares for an estimated $10,356,402.
- CHAD M ROBINS (CEO and Chairman) has made 0 purchases and 6 sales selling 374,997 shares for an estimated $6,334,645.
- KYLE PISKEL (Chief Financial Officer) has made 0 purchases and 2 sales selling 163,058 shares for an estimated $3,178,333.
- FRANCIS LO (Chief People Officer) has made 0 purchases and 3 sales selling 121,409 shares for an estimated $1,900,412.
- HARLAN S ROBINS (Chief Scientific Officer) has made 0 purchases and 4 sales selling 57,212 shares for an estimated $985,115.
- ROBERT HERSHBERG sold 22,968 shares for an estimated $367,488
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ADPT Revenue
$ADPT had revenues of $94M in Q3 2025. This is an increase of 102.38% from the same period in the prior year.
You can track ADPT financials on Quiver Quantitative's ADPT stock page.
$ADPT Hedge Fund Activity
We have seen 144 institutional investors add shares of $ADPT stock to their portfolio, and 108 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- RUBRIC CAPITAL MANAGEMENT LP removed 6,256,847 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $93,602,431
- BRAIDWELL LP removed 3,127,093 shares (-80.9%) from their portfolio in Q3 2025, for an estimated $46,781,311
- AMERIPRISE FINANCIAL INC added 2,731,648 shares (+84.3%) to their portfolio in Q3 2025, for an estimated $40,865,454
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 2,062,282 shares (+544.0%) to their portfolio in Q3 2025, for an estimated $30,851,738
- DEUTSCHE BANK AG\ added 1,542,685 shares (+905.0%) to their portfolio in Q3 2025, for an estimated $23,078,567
- MACQUARIE GROUP LTD added 1,444,358 shares (+218.8%) to their portfolio in Q3 2025, for an estimated $21,607,595
- JENNISON ASSOCIATES LLC added 1,215,715 shares (+1269.4%) to their portfolio in Q3 2025, for an estimated $18,187,096
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$ADPT Analyst Ratings
Wall Street analysts have issued reports on $ADPT in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- JP Morgan issued a "Overweight" rating on 11/06/2025
- BTIG issued a "Buy" rating on 11/06/2025
- Piper Sandler issued a "Overweight" rating on 10/15/2025
- Guggenheim issued a "Buy" rating on 09/30/2025
- TD Cowen issued a "Buy" rating on 08/06/2025
To track analyst ratings and price targets for $ADPT, check out Quiver Quantitative's $ADPT forecast page.
$ADPT Price Targets
Multiple analysts have issued price targets for $ADPT recently. We have seen 7 analysts offer price targets for $ADPT in the last 6 months, with a median target of $20.0.
Here are some recent targets:
- Tejas Savant from Morgan Stanley set a target price of $16.0 on 11/11/2025
- Rachel Vatnsdal from JP Morgan set a target price of $20.0 on 11/06/2025
- Mark Massaro from BTIG set a target price of $21.0 on 11/06/2025
- David Westenberg from Piper Sandler set a target price of $20.0 on 10/15/2025
- Subbu Nambi from Guggenheim set a target price of $20.0 on 09/30/2025
- Dan Brennan from TD Cowen set a target price of $15.0 on 08/06/2025
Full Release
SEATTLE, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced preliminary, unaudited results for the fourth quarter and full year ended December 31, 2025.
- Total revenue for the fourth quarter and full year 2025 was approximately $72 million and $277 million, representing an increase of 51% and 55%, respectively, over the corresponding periods in 2024.
- MRD revenue for the fourth quarter and full year 2025 was approximately $62 million and $212 million, representing an increase of 54% and 46%, respectively, over the corresponding periods in 2024. Excluding MRD regulatory milestone revenue, MRD revenue for full year 2025 grew 45% over the corresponding period in 2024.
- clonoSEQ test volume increased 43% to approximately 30,000 tests in the fourth quarter 2025 compared to the fourth quarter 2024 and ended the year with approximately 105,600 tests delivered, up 39% compared to full year 2024.
- Cash, cash equivalents and marketable securities were approximately $227 million as of December 31, 2025. 1
“2025 was a pivotal year for Adaptive, marked by accelerating momentum across our MRD business driven by strong growth in clonoSEQ adoption,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “As we look ahead to 2026, we are well-positioned to extend our leadership in MRD testing, sustain strong clonoSEQ volume and ASP growth, and further expand MRD profitability.”
Adaptive Biotechnologies plans to release its complete fourth quarter and full year 2025 financial results during its earnings call in February 2026.
1 Excludes Digital Biotechnologies, Inc. cash and cash equivalents.
Forward-Looking Statements
All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding Adaptive’s financial results for the fourth quarter and full year ended December 31, 2025 and its goals and strategies for 2026. In some cases, you can identify forward-looking statements by the words “may,” “expect,” “plan,” “believe,” “estimate,” “predict,” “project,” “continue,” or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate.
In particular, with respect to our preliminary financial results for the fourth quarter and full year ended December 31, 2025, we have not completed preparation of our financial statements for the fourth quarter or full year of 2025. The revenue, cash, test volumes and other results presented herein are preliminary and unaudited and are thus inherently uncertain and subject to change as Adaptive completes its customary year-end close, prepares its financial statements and completes the audit thereof. This press release does not disclose estimated expenses, although we expect fourth quarter and full year 2025 net loss to decrease compared to comparable periods in 2024. The final results for the fourth quarter and full year ended December 31, 2025 may differ materially from these estimates. Adaptive’s expectations with respect to its preliminary, unaudited results herein are based upon management estimates and are the responsibility of management. Adaptive’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to these preliminary results.
The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.
About Adaptive Biotechnologies
Adaptive Biotechnologies (“we” or “our”) is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature’s most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our proprietary immune medicine platform reveals and translates the massive genetics of the adaptive immune system with scale, precision and speed. We apply our platform to partner with biopharmaceutical companies, inform drug development, and develop clinical diagnostics across our two business segments: Minimal Residual Disease (MRD) and Immune Medicine. Our commercial products and clinical pipeline enable the diagnosis, monitoring, and treatment of diseases such as cancer and autoimmune disorders. Our goal is to develop and commercialize immune-driven clinical products tailored to each individual patient.
ADAPTIVE INVESTORS
Karina Calzadilla, Vice President, Investor Relations and FP&A
201-396-1687
[email protected]
ADAPTIVE MEDIA
Erica Jones, Associate Corporate Communications Director
206-279-2423
[email protected]