XML 59 R45.htm IDEA: XBRL DOCUMENT

Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Information, Including Significant Segment Expenses

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.