Filing Flows › Adaptive Biotechnologies (ADPT) › Q4 2025
Adaptive Biotechnologies (ADPT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Adaptive Biotechnologies (ADPT) reported revenue of $71.7M for the fourth quarter 2025 (Q4 2025), +51% from a year earlier and -24% from the quarter before. Operating margin was -17.8%, net loss $13.6M (18.9% of revenue).
Adaptive Biotechnologies, Q4 2025: revenue $71.7M (+51% year over year), operating margin -17.8%, net loss $13.6M, operating cash flow $2.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.7M | -24% | +51% |
| Operating profit | −$12.8M | -224% | — |
| Net earnings | −$13.6M | -242% | — |
| Operating cash flow | $2.1M | — | — |
| Free cash flow | $1.4M | — | — |
What changed
Revenue was $71.7M in Q4 2025, up 51% year over year and down 24% from the previous quarter.
Operating costs exceeded revenue by $12.8M, an operating margin of -17.8%. Total costs grew 4% against revenue growth of 51%. The fastest-growing cost line was Sales & marketing (+13%). The quarter ended with a net loss of $13.6M, after a profit of $9.5M the previous quarter.
Operating cash flow was $2.1M. Non-cash charges added back $3.7M of depreciation and amortization and $12.7M of share-based compensation. Working capital and other items used $738K. Capital expenditures of $636K left free cash flow of $1.4M.
Questions
What was Adaptive Biotechnologies' revenue in the fourth quarter 2025?
Adaptive Biotechnologies (ADPT) reported revenue of $71.7M for the fourth quarter 2025 (Q4 2025), +51% from a year earlier and -24% from the quarter before.
Was Adaptive Biotechnologies profitable in the fourth quarter 2025?
Operating loss was $12.8M (-17.8% of revenue) and net loss $13.6M.