Filing Flows › Adaptive Biotechnologies (ADPT) › Q2 2025
Adaptive Biotechnologies (ADPT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Adaptive Biotechnologies (ADPT) reported revenue of $58.9M for the second quarter 2025 (Q2 2025), +36% from a year earlier and +12% from the quarter before. Operating margin was -42.5%, net loss $25.6M (43.5% of revenue).
Adaptive Biotechnologies, Q2 2025: revenue $58.9M (+36% year over year), operating margin -42.5%, net loss $25.6M, operating cash flow −$12.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $58.9M | +12% | +36% |
| Operating profit | −$25.0M | — | — |
| Net earnings | −$25.6M | — | — |
| Operating cash flow | −$12.4M | — | — |
What changed
Revenue was $58.9M in Q2 2025, up 36% year over year and up 12% from the previous quarter.
Operating costs exceeded revenue by $25.0M, an operating margin of -42.5%. Total costs fell 7% while revenue rose 36%. The fastest-growing cost line was Sales & marketing (+16%). The quarter ended with a net loss of $25.6M, narrower than the previous quarter's $29.8M loss.
Operating cash flow was −$12.4M. Non-cash charges added back $4.1M of depreciation and amortization and $13.4M of share-based compensation. Working capital and other items used $4.3M. Capital expenditures of $655K exceeded it, leaving free cash flow of −$13.1M.
Questions
What was Adaptive Biotechnologies' revenue in the second quarter 2025?
Adaptive Biotechnologies (ADPT) reported revenue of $58.9M for the second quarter 2025 (Q2 2025), +36% from a year earlier and +12% from the quarter before.
Was Adaptive Biotechnologies profitable in the second quarter 2025?
Operating loss was $25.0M (-42.5% of revenue) and net loss $25.6M.