Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 145

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 145
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 or as a substitute for analysis of our results as reported under GAAP. We may in the future incur expenses similar to the adjustments we make. In particular, we expect to incur meaningful share-based compensation expense in the future. Other limitations include that Adjusted EBITDA, including segment Adjusted EBITDA, does not reflect:

•all expenditures or future requirements for capital expenditures or contractual commitments;

•changes in our working capital needs;

•interest expense, which is an ongoing element of our costs to operate;

•income tax (expense) benefit, which may be a necessary element of our costs and ability to operate;

•the costs of replacing the assets being depreciated and amortized, which will often have to be replaced in the future;

•the noncash component of employee compensation expense;

•long-lived assets impairment costs; and

•the impact of earnings or charges resulting from matters we consider not to be reflective, on a recurring basis, of our ongoing operations, such as our restructuring activities and reductions in workforce.

In addition, Adjusted EBITDA, including segment Adjusted EBITDA, may not be comparable to similarly titled measures used by other companies in our industry or across different industries.

81

The following is a reconciliation of net loss attributable to Adaptive Biotechnologies Corporation, the most directly comparable GAAP financial measure, to Adjusted EBITDA for the periods presented (in thousands):

    Year Ended December 31,

    2024

    2023

    2022

    Net loss attributable to Adaptive Biotechnologies Corporation
     
    $
    (159,492
    )
     
    $
    (225,250
    )
     
    $
    (200,191
    )

    Interest and other income, net

    (14,534
    )

    (15,531
    )

    (4,056
    )

    Interest expense(1)

    11,580

    13,800

    4,238

    Depreciation and amortization expense

    19,256

    22,231

    20,920

    Impairment of long-lived assets(2)

    7,205

    25,429

    —

    Restructuring expense(3)

    2,004

    —

    2,023

    Share-based compensation expense(4)

    53,610

    62,908

    55,477

    Adjusted