Adaptive Biotech Q4 revenue down 17% to $45.8M; net loss widens to $69.5M

Adaptive Biotechnologies Corp

2023-FY EPS reported -$1.56 revenue$170,276,000

Full year 2023 revenue $170.3M (-8% YoY); MRD revenue $102.7M (+18%) offset by IM decline.
clonoSEQ test volume up 53% YoY to 56,496 tests delivered in 2023.
Net loss $225.3M in 2023 vs $200.4M in 2022; includes $25.4M lease impairment charge.
Adjusted EBITDA loss $116.4M in 2023 vs $121.6M loss in 2022.
2024 MRD revenue guidance $130-140M; total OpEx guided to $360-370M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adaptive Biotechnologies Corp reported fourth quarter ended December 31, 2023 results: revenue $45.8 million, net income Net loss was $69.5 million.

Period: fourth quarter ended December 31, 2023
Revenue: $45.8 million
Net income: Net loss was $69.5 million
Result: reported results

Exact text from the filing

Revenue was $45.8 million for the quarter ended December 31, 2023, representing a 17% decrease from the fourth quarter in the prior year. MRD revenue was $30.8 million for the quarter, representing a 9% increase from the fourth quarter in the prior year. Immune Medicine revenue was $15.0 million for the quarter, representing a 45% decrease from the fourth quarter in the prior year. Operating expenses, which include a $25.4 million lease impairment charge, were $116.9 million for the fourth quarter of 2023, compared to $94.4 million in the fourth quarter of the prior year, representing an increase of 24%. Excluding the impact of the lease impairment charge, operating expenses for the fourth quarter of 2023 decreased 3% compared to the fourth quarter of the prior year. Interest and other income, net was $4.6 million for the fourth quarter of 2023, compared to $2.6 million in the fourth quarter of the prior year. Interest expense from our revenue interest purchase agreement was $3.0 milli

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adaptive Biotechnologies Corp reported fiscal year 2024 results: revenue between $130 million and $140 million. Guidance initiated.

Period: fiscal year 2024
Revenue: between $130 million and $140 million
Guidance: initiated
Result: guidance update

Exact text from the filing

2024 Financial Guidance Adaptive Biotechnologies expects full year revenue for the MRD business to be between $130 million and $140 million. No revenue guidance is provided for the Immune Medicine business. We expect full year operating expenses, including cost of revenue, to be between $360 million and $370 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adaptive Biotechnologies Corp reported full year ended December 31, 2023 results: revenue $170.3 million, net income Net loss was $225.3 million.

Period: full year ended December 31, 2023
Revenue: $170.3 million
Net income: Net loss was $225.3 million
Result: reported results

Exact text from the filing

Revenue was $170.3 million for the year ended December 31, 2023, representing an 8% decrease from the prior year. MRD revenue was $102.7 million in 2023, representing an 18% increase from the prior year. Immune Medicine revenue was $67.5 million in 2023, representing a 31% decrease from 2022. Operating expenses for 2023, which include a $25.4 million lease impairment charge, were $397.3 million, compared to $385.5 million for 2022, representing an increase of 3%. Excluding the impact of the lease impairment charge, operating expenses for 2023 decreased 4% compared to the prior year. Interest and other income, net was $15.5 million in 2023, compared to $4.1 million in 2022. Interest expense from our revenue interest purchase agreement was $13.8 million in 2023, compared to $4.2 million in 2022. Net loss was $225.3 million in 2023, compared to $200.4 million in 2022. Adjusted EBITDA (non-GAAP) was a loss of $116.4 million for 2023, compared to a loss of $121.6 million in the prior year.

View on SEC.gov

710 earnings releases filed in the last 30 days. Browse all earnings releases →

Adaptive Biotechnologies Corp filing history →

Source: SEC EDGAR

accession 0000950170-24-015230

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.