NASDAQ$ADPT

Adaptive Biotechnologies Corporation · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported strong growth with continued momentum across research, diagnostic and drug discovery.

Adaptive Biotechnologies reported a revenue of $39.5 million for Q3 2021, a 50% increase compared to Q3 2020. The company's net loss was $56.0 million, compared to $36.7 million for the same period in 2020.

  • Revenue of $39.5 million for the third quarter 2021, representing a 50% increase from the third quarter 2020
  • clonoSEQ clinical sequencing volume in the third quarter 2021 grew 47% versus prior year and 8% over the second quarter of 2021
  • Launched an enhanced version of the clonoSEQ Assay for CLL patients, which provides IGHV mutation status in the same test where we measure the trackable MRD sequence
  • Received positive Tech Assessment from MolDX for coverage of T-Detect COVID in certain cases including immunocompromised patients

Headline financials

Total Revenue

$39.5M

Previous: $26.3M+50.1%
EPS (adj)

-$0.40

Previous: -$0.27-48.1%
Capital Expenditures

-$52.5M

Previous: -$9.43M-456.6%
Free Cash Flow

-$108M

Previous: -$46.2M-134.9%
Net Income

-$55.9M

Previous: -$36.7M-52.2%
Operating Income

-$56.3M

Previous: -$37M-52.0%
Gross Profit

$25.3M

Previous: $20.2M+24.9%
Cash & Equivalents

$122M

Previous: $497M-75.4%
Total Assets

$993M

Previous: $1.1B-9.4%
Stock-Based Comp

$11.6M

No prior period

Revenue & EPS history

Adaptive Biotechnologies · Revenue · Quarterly

$39.5M

Q3 2021+50.1%vs Q3 2020
Beat estimate in 8 of 13 quarters(62%)
ActualEstimate

Revenue by segment

Adaptive Biotechnologies · $38M total across 2 segments · Q3 2023

  • MRD Business
    $24.7M+23.5%
  • Immune Medicine Business
    $13.3M-52.3%

Forward guidance

Adaptive Biotechnologies reiterates full year 2021 revenue to be in the range of $148 million to $155 million, representing 54% growth at the mid-point of the range over full year 2020 revenue.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+1.3%

Avg return

Earnings day

+0.0%

Avg return

5 days after

-0.9%

Avg return

30 days after

48%

13 / 27 earnings

Positive

+33.2%

Q1 2025

Best reaction

-22.2%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.2%-1.9%+22.6%
Q4 2025-4.3%-5.2%-9.8%
Q3 2025-4.8%-6.8%-5.2%
Q1 2025+33.2%+19.7%+29.3%
Q4 2024-3.2%+6.8%-6.7%
Q3 2024+1.2%+3.1%+9.0%
Q2 2024-5.5%+1.3%+3.3%
Q1 2024-1.2%+8.7%+21.1%
Q4 2023+9.4%+6.4%-10.5%
Q3 2023-22.2%-9.3%+4.4%
Q2 2023-15.5%-18.8%-17.5%
Q1 2023-8.3%-5.8%+6.4%
Q4 2022+15.4%+9.3%-3.3%
Q3 2022+13.2%-0.9%+14.1%
Q2 2022+19.3%+22.8%-8.4%
Q1 2022-1.1%-19.2%-22.5%
Q4 2021+5.3%-8.0%-15.3%
Q3 2021+6.7%+5.7%-26.6%
Q2 2021+4.8%-2.4%+9.8%
Q1 2021+0.9%-11.2%-1.0%
Q4 2020-2.6%+2.0%-32.8%
Q3 2020+8.0%+2.1%+14.9%
Q2 2020-3.8%+2.8%+0.2%
Q1 2020-6.7%-0.2%+9.9%
Q4 2019-5.6%-10.7%-15.4%
Q3 2019-3.7%+0.7%+11.8%
Q2 2019+3.5%+9.7%-5.4%
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014

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