NASDAQ$ADPT

Adaptive Biotechnologies Corporation · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Adaptive Biotechnologies reported a 46% increase in revenue, driven by MRD and Immune Medicine business areas.

Adaptive Biotechnologies reported a revenue of $55.2 million for Q4 2022, a 46% increase compared to the previous year. The company's net loss was $40.2 million, and adjusted EBITDA was a loss of $19.6 million. They ended the year with $498.2 million in cash, cash equivalents and marketable securities.

  • Revenue of $55.2 million, representing a 46% increase year-over-year.
  • clonoSEQ test volume increased 54% to 10,526 tests delivered.
  • Launched clonoSEQ to assess MRD in patients with diffuse large B-cell lymphoma (DLBCL) with Medicare coverage.
  • Ended the year with $498.2 million in cash, cash equivalents and marketable securities.

Headline financials

Total Revenue

$55.2M

Previous: $37.9M+45.5%
EPS (adj)

-$0.28

Previous: -$0.43+34.9%
clonoSEQ tests delivered

10.5K

No prior period
Capital Expenditures

$2.54M

Previous: $9.25M-72.5%
Free Cash Flow

-$32.6M

Previous: -$63.1M+48.4%
Net Income

-$40.2M

Previous: -$61.4M+34.5%
Operating Income

-$39.2M

Previous: -$61.6M+36.4%
Gross Profit

$38.6M

Previous: $23.6M+63.8%
Cash & Equivalents

$90M

Previous: $139M-35.3%
Total Assets

$857M

Previous: $923M-7.2%
Stock-Based Comp

$14.3M

Previous: $11.9M+20.4%

Revenue & EPS history

Adaptive Biotechnologies · Revenue · Quarterly

$55.2M

Q4 2022+45.5%vs Q4 2021
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Adaptive Biotechnologies · $55.2M total across 2 segments · Q4 2022

  • MRD
    $28.1M—
  • Immune Medicine
    $27.1M—

Forward guidance

Adaptive Biotechnologies expects full year 2023 revenue to be in the range of $205 million to $215 million. We expect operating expenses, including cost of revenue, to be below full year 2022 operating expenses of $385.5 million.

Historical earnings impact

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

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+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
Q2 2025———
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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