Quarterly ResultMay 5, 2026, 04:22 PM
Adaptive Biotechnologies Q1 Revenue $70.9M; Raises FY26 MRD Guidance
AI Summary
Adaptive Biotechnologies reported strong first quarter 2026 financial results, with total revenue increasing 35% year-over-year to $70.9 million. The company's MRD business was a key driver, growing 53% to $67.1 million and contributing 95% of total revenue, alongside a 41% increase in clonoSEQ® test volume. Adaptive Biotechnologies also significantly reduced its net loss and Adjusted EBITDA loss compared to the prior year and raised its full year 2026 MRD revenue guidance to a new range of $260 million to $270 million.
Key Highlights
- Q1 2026 revenue was $70.9 million, a 35% increase from the prior year.
- MRD business revenue grew 53% year-over-year to $67.1 million, comprising 95% of total revenue.
- clonoSEQ® test volume increased 41% to 32,595 tests delivered in Q1 2026.
- Recognized $9.0 million in MRD pharma regulatory milestone revenue.
- Net loss improved to $20.0 million in Q1 2026 from $29.8 million in Q1 2025.
- Adjusted EBITDA loss significantly reduced to $2.5 million from $12.7 million in the prior year.
- Raised full year 2026 MRD revenue guidance to $260 million to $270 million.
- Cash, cash equivalents, and marketable securities stood at $237.2 million as of March 31, 2026.