Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 219

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 219
---

    Year Ended December 31,

    Change

    Percent of Revenue

    (in thousands, except percentages)
     
    2024

    2023

    $

    %

    2024

    2023

    MRD revenue

    Service revenue
     
    $
    133,029

    $
    102,739

    $
    30,290

    29
    %

    Regulatory milestone revenue

    12,500

    —

    12,500

    *

    Total MRD revenue

    145,529

    102,739

    42,790

    42

    81
    %

    60
    %

    Immune Medicine revenue

    Service revenue

    19,976

    24,959

    (4,983
    )

    (20
    )

    Collaboration revenue

    13,452

    42,578

    (29,126
    )

    (68
    )

    Total Immune Medicine revenue

    33,428

    67,537

    (34,109
    )

    (51
    )

    19
    %

    40
    %

    Total revenue
     
    $
    178,957

    $
    170,276

    $
    8,681

    5

    100
    %

    100
    %

    * Not applicable

78

The $42.8 million increase in MRD revenue was primarily due to a $26.3 million increase in revenue generated from providing clonoSEQ to clinical customers, a $12.5 million increase in revenue recognized upon the achievement of regulatory milestones by certain of our biopharmaceutical customers, and a $5.8 million increase in revenue generated from providing MRD sample testing services to biopharmaceutical customers. These increases were partially offset by a $1.6 million decrease in revenue generated from providing MRD sample testing services to investigator-led clinical trials. Our clonoSEQ test volume increased by 35% to 76,105 tests delivered in the year ended December 31, 2024 from 56,496 tests delivered in the year ended December 31, 2023.

The $34.1 million decrease in Immune Medicine revenue was primarily due to a $29.1 million decrease in revenue generated from the Genentech Agreement, which