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Adaptive Biotechnologies Q3 revenue falls 11% but beats estimates

By Reuters News


Overview

  • U.S. biotech firm's Q3 revenue fell 11% yr/yr but beat analyst expectations

  • Q3 adjusted EBITDA beat analyst expectations

  • Company achieved total profitability ahead of plan


Outlook

  • Adaptive Biotechnologies raises 2026 MRD revenue guidance to $276 mln-$286 mln

  • Company expects 2026 operating expenses to be about $350 mln, down from prior $350 mln-$355 mln

  • Company says new multiple myeloma guidelines expected to drive demand for MRD testing


Result Drivers

  • MRD GROWTH - Co said core MRD revenue rose 44% yr/yr excluding milestones, supporting overall results

  • clonoSEQ TEST VOLUME - Co reported 46% yr/yr increase in clonoSEQ test volume in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$83.90 mln

$71.60 mln (8 Analysts)

Q3 EPS

$0.02

Q3 Net Income

$2.81 mln

Q3 Adjusted EBITDA

Beat

$14.34 mln

-$495,000 (4 Analysts)

Q3 Operating Expenses

$84.36 mln

Q3 Operating Income

-$457,000


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 Corporation is $31.00, about 20.2% above its November 3 closing price of $25.80


Reuters Recommended Reads

  • Nov 2 - Neurocrine Biosciences Q3 revenue jumps 41% on strong INGREZZA, CRENESSITY, VYKAT XR demand

  • Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised

  • Nov 3 - Amgen Q3 revenue beats expectations on higher volumes


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.)

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