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Adaptive Biotechnologies (ADPT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Adaptive Biotechnologies (ADPT) Q3 2026 earnings results →
Q3 2026 Revenue down 11% year over year to $83.9M · 3¢ of every $1 of revenue kept as net profit · operating margin -0.5%
Adaptive Biotechnologies made $83.9M in Q3 2026 (-11% Y/Y). Operating margin -0.5%, net earnings $2.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $83.9M in Q3 2026, down 11% year over year and up 17% from the previous quarter.
Operating costs exceeded revenue by $457K, an operating margin of -0.5%. Total costs grew 1% against a revenue fall of 11%. The fastest-growing cost line was Sales & marketing (+15%). Net earnings were $2.9M, down 70% year over year. The effective tax rate was 0.0%. Non-operating items added $3.3M, 116% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $9.6M, 342% of net income including minority interests. Non-cash charges added back $3.6M of depreciation and amortization and $10.4M of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $1.9M left free cash flow of $7.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $83.9M | -11% | -0.5% | $2.8M | $9.6M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $71.6M | +22% | -22.0% | −$39.9M | −$6.4M |
| Q1 2026 | 10-Q | May 5, 2026 | $70.9M | +35% | -27.1% | −$20.0M | −$9.5M |
| Q4 2025 | 10-K | Feb 26, 2026 | $71.7M | +51% | -17.8% | −$13.6M | $2.1M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $94.0M | +102% | 10.9% | $9.5M | −$7.1M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $58.9M | +36% | -42.5% | −$25.6M | −$12.4M |
| Q1 2025 | 10-Q | May 1, 2025 | $52.4M | +25% | -56.4% | −$29.8M | −$28.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Genentech Inc And Roche Group — 17% of its revenue · Stated in 10-K (XBRL) · source
About Adaptive Biotechnologies
Throughout our history, we have advanced the field of immune medicine by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature’s most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our immune medicine platform applies our proprietary technologies to read the diverse genetic code of a patient’s immune system and understand precisely how the immune system detects and treats disease in that patient.
In its own words, from its 10-K, filed Feb 26, 2026.
Adaptive Biotechnologies against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -11% against the peers' median +11%. Operating margin: -0.5% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ADPT Adaptive Biotechnologies | Q3 2026 | $83.9M | -11% | -0.5% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Adaptive Biotechnologies 10-Q on SEC EDGAR · CIK 1478320 · Biological Products, (No Diagnostic Substances)
Guidance and outlook
13F: who owns ADPT and who is buying
More on ADPT
- How Adaptive Biotechnologies makes money: revenue by segment
- Adaptive Biotechnologies next earnings date and what analysts expect
- Adaptive Biotechnologies stock forecast, price target and fair value
- Who owns Adaptive Biotechnologies stock: holders, funds and Congress trades
- Adaptive Biotechnologies guidance and outlook
- Adaptive Biotechnologies recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results