ADPT
Market read
The latest filing is mixed. 0 of 9 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Invalidation: The isolated read changes if ADPT's group or a disclosed connection begins moving with it.
Research brief
The latest filing is mixed. 0 of 9 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that we define as net loss attributable to Adaptive Biotechnologies Corporation adjusted for interest and other income, net, interest expense, income tax (expense) benefit, depreciation and amort…”10-Q · Aug 4, 2026 ↗
“5.8 million increase in Immune Medicine Adjusted EBITDA deficit was primarily attributable to an $8.5 million decrease in Immune Medicine revenue, resulting largely from the termination of the Genentech Agreement in August 2025, partially offset by a $2.7 mil…”10-Q · Aug 4, 2026 ↗
“The decrease in these operating expenses was primarily due to a decrease in research and development expenses driven largely by reduced personnel and laboratory materials costs.”10-Q · Aug 4, 2026 ↗
Valuation discipline
Price/sales 13.3× · EV/sales 13.5×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 12:20 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for ADPT. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
10-Q filed 2026-08-04 against the comparable filing from 2025-08-05.
Capital and cash conversion
Capital-spending intensity declined while free-cash-flow margin improved.
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
“The increase in these operating expenses was primarily due to a $3.4 million increase in general and administrative expenses driven largely by increased legal expenses, third-party billing service fees and computer and software expenses, a $2.8 million increase in sales and marketing expenses driven primarily by increased market access and personnel expenses and a $2.5 million increase in cost of revenue expenses driven largely by increased testing volumes.”
“The increase in these operating expenses was primarily due to a $5.9 million increase in sales and marketing expenses driven primarily by increased market access and personnel expenses, a $5.8 million increase in general and administrative expenses driven largely by increased legal expenses, third-party billing service fees and computer and software expenses and a $3.9 million increase in cost of revenue expenses driven largely by increased testing volumes.”
“Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that we define as net loss attributable to Adaptive Biotechnologies Corporation adjusted for interest and other income, net, interest expense, income tax (expense) benefit, depreciation and amortization expense, impairment costs for long-lived assets, restructuring expense, share-based compensation expense and revenue interest liability extinguishment loss.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
“Our competitors in blood-based molecular profiling for MRD tracking and treatment monitoring include Natera, Guardant Health, SAGA Diagnostics, Personalis, BillionToOne, Quest Diagnostics and Adaptive Biotechnologies.”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
ADPT is currently a Follower in the organic co-movement group High-Beta Growth. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.