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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 50,646 $ 47,920
Short-term marketable securities (amortized cost of $142,744 and $174,186, respectively) 142,778 174,374
Accounts receivable, net 43,583 41,731
Inventory, net 8,684 8,440
Prepaid expenses and other current assets 10,798 11,287
Total current assets 256,489 283,752
Long-term assets    
Property and equipment, net 44,430 48,616
Operating lease right-of-use assets 44,004 45,767
Long-term marketable securities (amortized cost of $39,255 and $33,682, respectively) 39,355 33,660
Restricted cash 2,711 2,897
Intangible assets, net 3,006 3,425
Goodwill 118,972 118,972
Other assets 1,885 2,287
Total assets 510,852 539,376
Current liabilities    
Accounts payable 6,362 7,265
Accrued liabilities 7,757 8,157
Accrued compensation and benefits 6,412 15,838
Current portion of operating lease liabilities 10,462 10,239
Current portion of deferred revenue 54,805 55,689
Current portion of revenue interest liability, net 2,011 865
Total current liabilities 87,809 98,053
Long-term liabilities    
Operating lease liabilities, less current portion 76,438 79,148
Deferred revenue, less current portion 24,814 27,256
Revenue interest liability, net, less current portion 131,550 132,414
Other long-term liabilities 20 20
Total liabilities 320,631 336,891
Commitments and contingencies (Note 9)
Shareholders’ equity    
Preferred stock: $0.0001 par value, 10,000,000 shares authorized at March 31, 2025 and December 31, 2024; no shares issued and outstanding at March 31, 2025 and December 31, 2024
Common stock: $0.0001 par value, 340,000,000 shares authorized at March 31, 2025 and December 31, 2024; 151,916,722 and 147,773,744 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 15 14
Additional paid-in capital 1,523,950 1,506,353
Accumulated other comprehensive gain 134 166
Accumulated deficit (1,333,676) (1,303,824)
Total Adaptive Biotechnologies Corporation shareholders’ equity 190,423 202,709
Noncontrolling interest (202) (224)
Total shareholders’ equity 190,221 202,485
Total liabilities and shareholders’ equity $ 510,852 $ 539,376