Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 143

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 143
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    2024

    2023

    $

    %
     
    2024

    2023

    Impairment of long-lived assets
     
    $
    7,205

    $
    25,429

    $
    (18,224
    )
     
    (72)%

    4
    %

    15
    %

    * Not applicable

The $18.2 million decrease in impairment of long-lived assets expenses was primarily due to a $25.4 million decrease in impairment costs related to us vacating certain leased space in Seattle, Washington in October 2023, which was partially offset by a $7.2 million increase in impairment costs resulting from various restructuring activities implemented in 2024.

Interest and Other Income, Net

    Year Ended December 31,

    Change

    (in thousands, except percentages)
     
    2024

    2023

    $

    %

    Interest and other income, net
     
    $
    14,534

    $
    15,531

    $
    (997
    )
     
    (6)%

The $1.0 million decrease in interest and other income, net was primarily attributable to a decrease in net interest income and investment amortization driven by decreased holdings of and interest rates pertaining to our cash, cash equivalents and marketable securities.

Interest Expense

    Year Ended December 31,

    Change

    (in thousands, except percentages)
     
    2024

    2023

    $

    %

    Interest expense
     
    $
    (11,580
    )
     
    $
    (13,800
    )
     
    $
    2,220

    (16)%

The $2.2 million decrease in interest expense was attributable to a change in our assumptions regarding the timeframe in which our Purchase Agreement will be fully repaid.

80

Segment Adjusted EBITDA

    Year Ended December 31,

    Change

    (in thousands, except percentages)
     
    2024

    2023

    $

    %

    MRD Adjusted EBITDA(1)
     
    $
    (41,223
    )
     
    $
    (88,844
    )
     
    $
    47,621

    (54)%

    Immune Medicine Adjusted EBITDA(1)

    (26,005