Adaptive Biotechnologies Q2 revenue rises 22%, beats estimates

Overview

• US biotechnology firm's Q2 revenue rose 22% yr/yr, beating analyst expectations

• Q2 adjusted EBITDA loss narrowed and beat analyst estimates

• Company raised full-year MRD revenue guidance and plans to separate MRD and Immune Medicine units

Outlook

• Adaptive Biotechnologies raises 2026 MRD revenue guidance to $268 mln-$278 mln

• Company revises full-year operating expense guidance to $350 mln-$355 mln

• No revenue guidance provided for Immune Medicine business

Result Drivers

• MRD BUSINESS GROWTH - MRD business revenue rose 33% yr/yr and made up 92% of total revenue

• CLONOSEQ TEST VOLUME - clonoSEQ test volume increased 43% yr/yr to 36,111 tests delivered

• IMMUNE MEDICINE DECLINE - Immune Medicine revenue fell 40% yr/yr, though excluding Genentech Agreement, revenue rose 8%

Company press release: ID:nGNX7VJvDq

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology medical research peer group is "buy"

• Wall Street's median 12-month price target for Adaptive Biotechnologies Corp is $21.00, about 6.7% below its July 28 closing price of $22.52

Reuters Recommended Reads

• July 28 - NeoGenomics Q2 revenue beats estimates, raises outlook

• July 29 - Biogen beats quarterly estimates as newer drugs drive growth

• July 29 - Ionis Q2 adjusted operating loss narrows

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)