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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 19. Segment Information In 2024, in connection with an organizational realignment, we began operating our business as two reportable segments: MRD and Immune Medicine. These segments are organized by market opportunity in commercial diagnostics and drug discovery, respectively. The MRD business focuses on the use of our highly sensitive, next-generation sequencing assay to measure MRD in patients with hematologic malignancies. It is comprised of our clonoSEQ clinical diagnostic test, offered to clinicians, and our clonoSEQ assay, offered to biopharmaceutical partners to advance drug development efforts. Our MRD revenue consists of revenue generated from (1) providing our clonoSEQ report to clinical customers; (2) providing MRD sample testing services to biopharmaceutical customers and certain academic institutions, including investigator-led clinical trials; and (3) providing our clonoSEQ report or results to certain international laboratory sites through technology transfers. The Immune Medicine business leverages our proprietary ability to sequence, map, pair and characterize TCRs and B cell receptors at scale. We have created a powerful data engine to drive the development of novel therapies. Our Immune Medicine revenue consists of revenue generated from (1) providing sample testing services for our commercial research product, Adaptive Immunosequencing, to biopharmaceutical customers and academic institutions; (2) our collaboration agreements with Genentech and other biopharmaceutical customers in areas of drug and target discovery; and (3) for years prior to 2023, providing our T-Detect COVID tests to clinical customers. There are no inter-segment revenues. See Note 3, Revenue for more information about each segment's revenue. Our CODM, which is our chief executive officer, evaluates performance of the MRD segment based on both revenue and Adjusted EBITDA and evaluates performance of the Immune Medicine segment based on Adjusted EBITDA. These measures help our CODM assess the trends and operating margin profile of the respective segments, which helps drive the level of investment made in each business. These measures also help our CODM assess and manage the potential capital utilization of each segment. Adjusted EBITDA for each of our segments includes costs that are directly aligned to each segment, as well as certain allocated shared expenses. These shared expenses primarily relate to our general and administrative functions, our non-laboratory facility space in our corporate headquarters and our production laboratory. We use the relative direct headcount assigned to each of the respective segments and our production laboratory sample volume to allocate these expenses. We do not allocate certain expenses, such as our corporate insurance costs, external legal and audit costs and expenses related to our investor relations, chief executive officer and other related support functions. Additionally, we do not allocate costs related to our idle facility in Seattle, Washington, interest expense related to our Purchase Agreement nor interest and other income, net. Given these unallocated costs and income are not included in the measurements reviewed by the CODM to assess each segment's performance, they are included in an "Unallocated Corporate" category. Our allocation methodology will be periodically evaluated and may change. Our CODM is not regularly provided and does not review assets to assess each segment's performance, make strategic decisions or allocate resources. As such, assets for reportable segments are not disclosed. Segment information for the years ended December 31, 2023 and 2022 are presented on a comparable basis to that of the current period and is based on judgments and allocation methods from our organizational changes implemented during the three months ended March 31, 2024. The following tables set forth our segment information, including significant segment expenses that are (or are easily computable from) information regularly provided to our CODM, for the years ended December 31, 2024, 2023 and 2022 (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
MRD: |  |  |  |  |  |  |  |  |
Revenue |  | $ | 145,529 |  |  | $ | 102,739 |  |  | $ | 87,144 |
Less: |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | 64,177 |  |  |  | 63,273 |  |  |  | 42,606 |
Research and development |  |  | 40,743 |  |  |  | 42,153 |  |  |  | 31,768 |
Sales and marketing |  |  | 77,579 |  |  |  | 76,742 |  |  |  | 65,558 |
General and administrative |  |  | 40,446 |  |  |  | 46,961 |  |  |  | 32,349 |
Other segment items(1) |  |  | 2,819 |  |  |  | — |  |  |  | — |
Add back: |  |  |  |  |  |  |  |  |
Items to reconcile net loss to adjusted EBITDA(2) |  |  | 39,012 |  |  |  | 37,546 |  |  |  | 24,641 |
Adjusted EBITDA(2) |  | $ | (41,223 | ) |  | $ | (88,844 | ) |  | $ | (60,496 | )
Immune Medicine: |  |  |  |  |  |  |  |  |
Revenue |  | $ | 33,428 |  |  | $ | 67,537 |  |  | $ | 98,164 |
Less: |  |  |  |  |  |  |  |  |
Research and development |  |  | 62,210 |  |  |  | 79,964 |  |  |  | 109,988 |
Other segment items(3) |  |  | 28,842 |  |  |  | 35,067 |  |  |  | 70,016 |
Add back: |  |  |  |  |  |  |  |  |
Items to reconcile net loss to adjusted EBITDA(2) |  |  | 31,619 |  |  |  | 33,366 |  |  |  | 36,186 |
Adjusted EBITDA(2) |  | $ | (26,005 | ) |  | $ | (14,128 | ) |  | $ | (45,654 | )
|  | Year Ended December 31, 2024 |
|  | MRD |  |  | Immune Medicine |  |  | Unallocated Corporate |  |  | Total |
Reconciliation of Adjusted EBITDA(2) to Net Loss: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA(2) |  | $ | (41,223 | ) |  | $ | (26,005 | ) |  | $ | (13,143 | ) |  | $ | (80,371 | )
Share-based compensation expense(4) |  |  | (24,848 | ) |  |  | (19,051 | ) |  |  | (9,711 | ) |  |  | (53,610 | )
Restructuring expense(5) |  |  | (1,272 | ) |  |  | (732 | ) |  |  | — |  |  |  | (2,004 | )
Impairment of long-lived assets(5) |  |  | (2,819 | ) |  |  | (4,386 | ) |  |  | — |  |  |  | (7,205 | )
Depreciation and amortization expense |  |  | (10,073 | ) |  |  | (7,450 | ) |  |  | (1,733 | ) |  |  | (19,256 | )
Interest expense(6) |  |  | — |  |  |  | — |  |  |  | (11,580 | ) |  |  | (11,580 | )
Interest and other income, net |  |  | — |  |  |  | — |  |  |  | 14,534 |  |  |  | 14,534 |
Net loss attributable to Adaptive Biotechnologies Corporation |  |  |  |  |  |  |  |  |  |  |  | (159,492 | )
Net loss attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | (103 | )
Net loss |  |  |  |  |  |  |  |  |  |  | $ | (159,595 | )
|  | Year Ended December 31, 2023 |
|  | MRD |  |  | Immune Medicine |  |  | Unallocated Corporate |  |  | Total |
Reconciliation of Adjusted EBITDA(2) to Net Loss: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA(2) |  | $ | (88,844 | ) |  | $ | (14,128 | ) |  | $ | (13,441 | ) |  | $ | (116,413 | )
Share-based compensation expense(4) |  |  | (28,321 | ) |  |  | (22,930 | ) |  |  | (11,657 | ) |  |  | (62,908 | )
Impairment of right-of-use and related long-lived assets(7) |  |  | — |  |  |  | — |  |  |  | (25,429 | ) |  |  | (25,429 | )
Depreciation and amortization expense |  |  | (9,225 | ) |  |  | (10,436 | ) |  |  | (2,570 | ) |  |  | (22,231 | )
Interest expense(6) |  |  | — |  |  |  | — |  |  |  | (13,800 | ) |  |  | (13,800 | )
Interest and other income, net |  |  | — |  |  |  | — |  |  |  | 15,531 |  |  |  | 15,531 |
Net loss attributable to Adaptive Biotechnologies Corporation |  |  |  |  |  |  |  |  |  |  |  | (225,250 | )
Net loss attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | (54 | )
Net loss |  |  |  |  |  |  |  |  |  |  | $ | (225,304 | )
|  | Year Ended December 31, 2022 |
|  | MRD |  |  | Immune Medicine |  |  | Unallocated Corporate |  |  | Total |
Reconciliation of Adjusted EBITDA(2) to Net Loss: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA(2) |  | $ | (60,496 | ) |  | $ | (45,654 | ) |  | $ | (15,439 | ) |  | $ | (121,589 | )
Share-based compensation expense(4) |  |  | (17,999 | ) |  |  | (23,892 | ) |  |  | (13,586 | ) |  |  | (55,477 | )
Restructuring expense(5) |  |  | — |  |  |  | — |  |  |  | (2,023 | ) |  |  | (2,023 | )
Depreciation and amortization expense |  |  | (6,642 | ) |  |  | (12,294 | ) |  |  | (1,984 | ) |  |  | (20,920 | )
Interest expense(6) |  |  | — |  |  |  | — |  |  |  | (4,238 | ) |  |  | (4,238 | )
Interest and other income, net |  |  | — |  |  |  | — |  |  |  | 4,056 |  |  |  | 4,056 |
Net loss attributable to Adaptive Biotechnologies Corporation |  |  |  |  |  |  |  |  |  |  |  | (200,191 | )
Net loss attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | (177 | )
Net loss |  |  |  |  |  |  |  |  |  |  | $ | (200,368 | )
(1) Includes MRD impairment of long-lived assets expenses. (2) Adjusted EBITDA is a non-GAAP financial measure. See “Management's Discussion and Analysis of Financial Condition and Results of Operations—Adjusted EBITDA” for an explanation of how it is calculated and used by management. (3) Includes all Immune Medicine operating expenses, other than research and development expenses. (4) Represents share-based compensation expense related to stock option, restricted stock unit and market-based restricted stock unit awards. See Note 14, Equity Incentive Plans for details on our share-based compensation expense. (5) Represents expenses recognized in conjunction with restructuring activities. See Note 15, Restructurings for details on our restructuring expenses. (6) Represents costs associated with our revenue interest liability and noncash interest costs associated with the amortization of the related deferred issuance costs. See Note 11, Revenue Interest Purchase Agreement for details on the Purchase Agreement. (7) Represents impairment costs for certain right-of-use and related long-lived assets. See Note 10, Leases for details on our impairment expense.

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