Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 165

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 165
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 each consolidated balance sheet date presented, respectively. There were no customers that represented more than ten percent of our accounts receivable, net balances as of December 31, 2024 or 2023. For each significant customer, revenue as a percentage of total revenue for the periods presented were as follows:  

          Year Ended December 31,

          2024
           
          2023
           
          2022

          Customer A(1)
           
          15.2%
           
          *%
           
          *%

          Customer B(2)
           
          *
           
          *
           
          11.6

          Genentech, Inc. and Roche Group(2)
           
          *
           
          27.8
           
          36.4

          * less than 10%

         (1) The related revenue was recognized and reported by our MRD segment. (2) The related revenue was recognized and reported by both our MRD and Immune Medicine segments.

97

Adaptive Biotechnologies CorporationNotes to Consolidated Financial Statements (Continued) 

Accounts ReceivableAccounts receivable consists of amounts due from customers for services performed. We review our accounts receivable for credit impairment and regularly analyze the status of significant past due receivables to determine if any will potentially be uncollectible to estimate the amount of allowance necessary to reduce accounts receivable to its estimated net realizable value.InventoryInventory consists of laboratory materials and supplies used in lab analysis. We capitalize inventory when purchased and record expense upon order fulfillment for servicing revenue or utilization in our research and development laboratories. Inventory is valued at the lower of cost or market on a first-in, first-out basis. We periodically perform obsolescence assessments and write-off any inventory that is no longer usable. Long-term inventory of $1.5 million and $2.8 million was included within the other assets balance on the consolidated balance sheet as of December 31, 2024 and 2023, respectively.Property and EquipmentProperty and equipment consists of computer equipment, computer software, laboratory equipment, leasehold improvements, furniture and office equipment and assets under construction. Property and equipment are recorded at cost and depreciation is recognized using the straight-line method based on estimated useful life. Maintenance and repairs are charged to expense as incurred and costs of improvements are capitalized.Useful lives assigned to property and equipment are as follows:

          Laboratory equipment
           
          3 years to 7 years