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Adaptive Biotechnologies (ADPT) guidance and outlook
Adaptive Biotechnologies (ADPT) raised some and lowered other parts of its guidance on Nov 4, 2026: Revenue $276M–$286M for FY2026. Adaptive Biotechnologies' 10-Q filed Nov 4, 2026 makes 21 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $350M | lowered |
| Revenue | FY2026 | +30% to +35% | raised |
| Revenue | FY2026 | $276M–$286M | raised |
From the earnings release filed Nov 4, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 4, 2026
- In June 2026, we announced plans to pursue a separation of our MRD and Immune Medicine businesses, which remains ongoing.
- This change enables the Immune Medicine business to focus on our proprietary TCR-antigen dataset, our artificial intelligence and machine learning digital models and our target discovery platform for autoimmune disease.
- Our Immune Medicine revenue consists of revenue generated from (1) providing sample testing services for our commercial research product, Adaptive Immunosequencing; (2) data licensing and target discovery services; and (3) for periods prior to October 1, 2025, our former collaboration with Genentech, Inc.
- Amounts paid for clonoSEQ by commercial, government and medical institution payors vary based on respective reimbursement rates and patient responsibilities, which may differ from our targeted list price.
- In periods where our sample estimates are reduced or a customer project is cancelled and, in either case, we have remaining related deferred revenue, we recognize revenue using a cumulative catch-up approach based on the proportion of samples delivered to date relative to the total samples expected to be delivered.
- For our target discovery agreement, we received an initial upfront payment and rights to additional consideration upon the delivery of completed disease-specific TCRs pursuant to a research plan.
- We expect our MRD revenue to increase in both the short term and long term as we continue to increase our MRD clinical testing volume through enhanced penetration in our existing covered patient populations, expand into new patient populations and optimize payor coverage.
- We expect our Immune Medicine revenue to decrease in the short term as we continue to wind down Adaptive Immunosequencing services and focus on target discovery business development efforts.
- Our Immune Medicine revenue may also fluctuate from period to period due to the potential recognition of milestones under our target discovery agreement and any future licensing agreements.
- We expect cost of revenue to moderately increase in the short term and to increase in absolute dollars in the long term as we grow our sample testing volume, but the cost per sample to decrease over the long term due to the efficiencies we may gain as assay volume increases from improved utilization of our laboratory capacity, automation and other value engineering initiatives.
- We expect research and development expenses to be relatively stable in the short term and to decrease as a percentage of revenue in the long term, although the percentage may fluctuate from period to period due to the timing and extent of our development and commercialization efforts.
- We expect sales and marketing expenses to moderately increase in the short term.
Adaptive Biotechnologies' latest quarter
Adaptive Biotechnologies, Q3 2026: revenue $83.9M (-11% year over year), operating margin -0.5%, net earnings $2.8M, operating cash flow $9.6M. The chart follows the revenue to costs, profit and cash.
Questions
Did Adaptive Biotechnologies raise or lower its guidance?
Adaptive Biotechnologies (ADPT) raised some and lowered other parts of its guidance on Nov 4, 2026: Revenue $276M–$286M for FY2026.
What does Adaptive Biotechnologies expect?
In June 2026, we announced plans to pursue a separation of our MRD and Immune Medicine businesses, which remains ongoing. This change enables the Immune Medicine business to focus on our proprietary TCR-antigen dataset, our artificial intelligence and machine learning digital models and our target discovery platform for autoimmune disease. Our Immune Medicine revenue consists of revenue generated from (1) providing sample testing services for our commercial research product, Adaptive Immunosequencing; (2) data licensing and target discovery services; and (3) for periods prior to October 1, 202
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.