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v3.25.1

Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | # 14. Segment Information There are no inter-segment revenues. See Note 3, Revenue for more information about each segment's revenue. Our chief operating decision maker (“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. 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 three months ended March 31, 2025 and 2024 (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
MRD: |  |  |  |  |  |
Revenue |  | $ | 43,721 |  |  | $ | 32,626 |
Less: |  |  |  |  |  |
Cost of revenue |  |  | 15,885 |  |  |  | 15,921 |
Research and development |  |  | 9,159 |  |  |  | 12,924 |
Sales and marketing |  |  | 21,413 |  |  |  | 20,385 |
General and administrative |  |  | 9,502 |  |  |  | 10,656 |
Add back: |  |  |  |  |  |
Items to reconcile net loss to Adjusted EBITDA(1) |  |  | 8,127 |  |  |  | 10,001 |
Adjusted EBITDA(1) |  | $ | (4,111 | ) |  | $ | (17,259 | )
Immune Medicine: |  |  |  |  |  |
Revenue |  | $ | 8,722 |  |  | $ | 9,247 |
Less: |  |  |  |  |  |
Research and development |  |  | 15,044 |  |  |  | 17,321 |
Other segment items(2) |  |  | 5,159 |  |  |  | 6,519 |
Add back: |  |  |  |  |  |
Items to reconcile net loss to Adjusted EBITDA(1) |  |  | 6,035 |  |  |  | 7,666 |
Adjusted EBITDA(1) |  | $ | (5,446 | ) |  | $ | (6,927 | )
|  | Three Months Ended March 31, 2025 |
|  | MRD |  |  | Immune Medicine |  |  | Unallocated Corporate |  |  | Total |
Reconciliation of Adjusted EBITDA(1) to Net Loss: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA(1) |  | $ | (4,111 | ) |  | $ | (5,446 | ) |  | $ | (3,191 | ) |  | $ | (12,748 | )
Share-based compensation expense(3) |  |  | (5,464 | ) |  |  | (4,393 | ) |  |  | (2,290 | ) |  |  | (12,147 | )
Depreciation and amortization expense |  |  | (2,663 | ) |  |  | (1,642 | ) |  |  | (426 | ) |  |  | (4,731 | )
Interest expense(4) |  |  | — |  |  |  | — |  |  |  | (2,905 | ) |  |  | (2,905 | )
Interest and other income, net |  |  | — |  |  |  | — |  |  |  | 2,679 |  |  |  | 2,679 |
Net loss attributable to Adaptive Biotechnologies Corporation |  |  |  |  |  |  |  |  |  |  |  | (29,852 | )
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 22 |
Net loss |  |  |  |  |  |  |  |  |  |  | $ | (29,830 | )
|  | Three Months Ended March 31, 2024 |
|  | MRD |  |  | Immune Medicine |  |  | Unallocated Corporate |  |  | Total |
Reconciliation of Adjusted EBITDA(1) to Net Loss: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA(1) |  | $ | (17,259 | ) |  | $ | (6,927 | ) |  | $ | (3,994 | ) |  | $ | (28,180 | )
Share-based compensation expense(3) |  |  | (6,833 | ) |  |  | (5,007 | ) |  |  | (2,458 | ) |  |  | (14,298 | )
Restructuring expense(5) |  |  | (467 | ) |  |  | (577 | ) |  |  | — |  |  |  | (1,044 | )
Depreciation and amortization expense |  |  | (2,701 | ) |  |  | (2,082 | ) |  |  | (431 | ) |  |  | (5,214 | )
Interest expense(4) |  |  | — |  |  |  | — |  |  |  | (2,993 | ) |  |  | (2,993 | )
Interest and other income, net |  |  | — |  |  |  | — |  |  |  | 4,222 |  |  |  | 4,222 |
Net loss attributable to Adaptive Biotechnologies Corporation |  |  |  |  |  |  |  |  |  |  |  | (47,507 | )
Net loss attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | (26 | )
Net loss |  |  |  |  |  |  |  |  |  |  | $ | (47,533 | )
(1) 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. (2) Includes all Immune Medicine operating expenses, other than research and development expenses. (3) Represents share-based compensation expense related to stock option, restricted stock unit and market-based restricted stock unit awards. See Note 11, Equity Incentive Plans for details on our share-based compensation expense. (4) Represents costs associated with our revenue interest liability and noncash interest costs associated with the amortization of the related deferred issuance costs. See Note 8, Revenue Interest Purchase Agreement for details on the Purchase Agreement. (5) Represents expenses recognized in conjunction with restructuring activities. See Note 12, Restructuring for details on our restructuring expense.

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- Definition The entire disclosure for reporting segments including data and tables. 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