Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 139

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 139
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 Adaptive Biotechnologies Corporation common shareholders, basic and diluted
     
    $
    (1.08
    )
     
    $
    (1.56
    )
     
    $
    (1.40
    )

    Weighted-average shares used in computing net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, basic and diluted

    147,101,648

    144,383,294

    142,515,917

    Other Financial and Operating Data:

    Adjusted EBITDA(1)
     
    $
    (80,371
    )
     
    $
    (116,413
    )
     
    $
    (121,589
    )

(1) Adjusted EBITDA is a non-GAAP financial measure that we define as net loss attributable to Adaptive Biotechnologies Corporation adjusted for interest and other income, net, interest expense, income tax (expense) benefit, depreciation and amortization expense, impairment costs for long-lived assets, restructuring expense and share-based compensation expense. See “Adjusted EBITDA” below for a reconciliation between Adjusted EBITDA and net loss attributable to Adaptive Biotechnologies Corporation, the most directly comparable GAAP financial measure, and a discussion about the limitations of Adjusted EBITDA.

Comparison of the Years Ended December 31, 2024 and 2023

Revenue

    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