Adaptive Biotechnologies Corporation · Q1 2021 earnings

Briefing

Adaptive Biotechnologies reported an 84% increase in revenue year over year, driven by growth in both sequencing and development revenue categories.

Adaptive Biotechnologies reported a strong start to the year with revenue increasing 84% year over year. The company's clonoSEQ clinical sequencing volume grew 35% versus the prior year. They also recognized $7.0 million in MRD regulatory milestones.

• Revenue of $38.4 million for the first quarter 2021, representing an 84% increase from the first quarter 2020
• clonoSEQ clinical sequencing volume for the first quarter 2021 grew 35% versus prior year
• Recognized $7.0 million in MRD regulatory milestones resulting from two biopharmaceutical partners who used data from our MRD assay to support their respective U.S. Food and Drug Administration (FDA) drug approvals
• Received Emergency Use Authorization (EUA) from FDA for T-Detect™ COVID to confirm recent or prior COVID-19 infection

Headline financials

Revenue & EPS history

Adaptive Biotechnologies expects full year 2021 revenue to be in the range of $145 million to $155 million, representing 52% growth at the mid-point of the range over full year 2020 revenue.