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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 55,034 $ 47,920
Short-term marketable securities (amortized cost of $157,524 and $174,186, respectively) 157,735 174,374
Accounts receivable, net 44,821 41,731
Inventory, net 9,933 8,440
Prepaid expenses and other current assets 13,912 11,287
Total current assets 281,435 283,752
Long-term assets    
Property and equipment, net 37,498 48,616
Operating lease right-of-use assets 41,988 45,767
Long-term marketable securities (amortized cost of $4,037 and $33,682, respectively) 4,037 33,660
Restricted cash 2,689 2,897
Intangible assets, net 2,155 3,425
Goodwill 118,972 118,972
Other assets 1,836 2,287
Total assets 490,610 539,376
Current liabilities    
Accounts payable 10,267 7,265
Accrued liabilities 7,205 8,157
Accrued compensation and benefits 12,681 15,838
Current portion of operating lease liabilities 9,442 10,239
Current portion of deferred revenue 41,337 55,689
Current portion of revenue interest liability, net 2,429 865
Total current liabilities 83,361 98,053
Long-term liabilities    
Operating lease liabilities, less current portion 72,361 79,148
Deferred revenue, less current portion 1,206 27,256
Revenue interest liability, net, less current portion 129,409 132,414
Other long-term liabilities 20 20
Total liabilities 286,357 336,891
Commitments and contingencies (Note 9)
Shareholders’ equity    
Preferred stock: $0.0001 par value, 10,000,000 shares authorized at September 30, 2025 and December 31, 2024; no shares issued and outstanding at September 30, 2025 and December 31, 2024
Common stock: $0.0001 par value, 340,000,000 shares authorized at September 30, 2025 and December 31, 2024; 152,581,042 and 147,773,744 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 15 14
Additional paid-in capital 1,553,953 1,506,353
Accumulated other comprehensive gain 211 166
Accumulated deficit (1,349,744) (1,303,824)
Total Adaptive Biotechnologies Corporation shareholders’ equity 204,435 202,709
Noncontrolling interest (182) (224)
Total shareholders’ equity 204,253 202,485
Total liabilities and shareholders’ equity $ 490,610 $ 539,376