Earnings Releases·Nov 4, 2026, 4:15 PM ET

Adaptive Biotechnologies — Third Quarter 2026 Earnings Summary

Total revenue declined 11% year-over-year to $83.9 million, driven by a 70% drop in Immune Medicine; however, MRD revenue grew 28% to $72.6 million, and excluding Genentech Agreement revenue, total revenue and Immune Medicine revenue increased 39% and 229% respectively.
Full year 2026 MRD revenue guidance was raised to $276–$286 million (30–35% annual growth), while total company operating expenses are projected at approximately $350 million; no revenue guidance was provided for the Immune Medicine segment.
The company reported adjusted EBITDA of $14.3 million and net income of $2.8 million, achieving profitability for the quarter, compared to an adjusted EBITDA loss of $5.8 million in the prior year when excluding Genentech revenue.
Strategic progress includes the ongoing Immune Medicine separation process, the exclusion of Digital Biotechnologies, Inc. expenses from the Immune Medicine segment, and the submission of a technical assessment to MolDX for a Medicare bundle for multiple myeloma maintenance testing.