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# Adaptive Biotechnologies Turns A Profit, Raises MRD Forecast To $276 Million-$286 Million
- URL: https://www.bullished.co/adaptive-biotechnologies-turns-a-profit-raises-mrd-forecast-to-276-million-286-million-159f5faa/
- Published: 2026-11-04T22:53:08.000Z
- Updated: 2026-11-04T22:53:08.000Z
- Description: Third-quarter revenue fell 11% to $83.9 million on a missing Genentech payment, while clonoSEQ tests delivered rose 46%.
- Author: Matteo Parrino
- Tags: Earnings, ADPT, Industry: Healthcare

[Adaptive Biotechnologies](https://www.bullished.co/tag/adpt/), which reads the genetic code of immune cells to build cancer diagnostics and research tools, reported [total company profitability](https://www.globenewswire.com/news-release/2026/11/04/3395832/0/en/adaptive-biotechnologies-reports-third-quarter-2026-financial-results.html?ref=bullished.co) for the third quarter and raised its full-year MRD revenue outlook to $276 million to $286 million. Total revenue still fell 11% to $83.9 million, because the Genentech Agreement produced no revenue this quarter.

## Revenue down, core testing up

Excluding Genentech revenue, the company said quarterly revenue rose 39% from a year earlier. Revenue from minimal residual disease (MRD) testing, which detects leftover cancer cells, was [$72.6 million](https://www.globenewswire.com/news-release/2026/11/04/3395832/0/en/adaptive-biotechnologies-reports-third-quarter-2026-financial-results.html?ref=bullished.co), up 28%, or 44% excluding milestones.

Immune Medicine revenue was $11.3 million, down 70%, though it rose 229% excluding Genentech revenue. The company delivered 39,587 clonoSEQ tests in the quarter, up 46% from the third quarter of 2025.

CEO Chad Robins said the company achieved profitability "ahead of expectations" and delivered "44% growth in core MRD revenue."

## Profit measures narrowed from last year

Adjusted EBITDA, a profit measure that excludes items such as interest, taxes and stock pay, was $14.3 million, against $28.0 million a year earlier. Net income was $2.8 million, against $9.5 million, and free cash flow was $7.7 million.

Excluding Genentech revenue, the company reported a year-earlier net loss of $24.2 million and an adjusted EBITDA loss of $5.8 million. Operating expenses were $84.4 million, up 1% from $83.7 million. Cash and marketable securities stood at $400.2 million at September 30.

## Guidance and the Immune Medicine split

The new MRD forecast, up from $268 million to $278 million, implies annual growth of 30% to 35%, the company said. It now expects total operating expenses, including cost of revenue, of about $350 million, versus a prior range of $350 million to $355 million. No revenue guidance is given for Immune Medicine, which the company said is progressing through a separation process.

Robins pointed to new myeloma guidelines and a new definition of cure that he said "amplify the need for MRD testing." The company also submitted a technical assessment to MolDX seeking an additional Medicare bundle for maintenance testing in multiple myeloma.

Management was scheduled to detail the outlook on a conference call at 4:30 p.m. ET Wednesday.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Adaptive Biotechnologies Corp (ADPT)](https://www.sec.gov/Archives/edgar/data/0001478320/000119312526447290/adpt-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit adpt-ex99\_1.htm — Adaptive Biotechnologies Corp 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001478320/000119312526447290/adpt-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Adaptive Biotechnologies Reports Third Quarter 2026](https://www.globenewswire.com/news-release/2026/11/04/3395832/0/en/adaptive-biotechnologies-reports-third-quarter-2026-financial-results.html?ref=bullished.co) — globenewswire.com

### More on Adaptive Biotechnologies

- [Adaptive Asked Medicare's Contractor For A Five-Test Myeloma Maintenance Bundle, CEO Says](https://www.bullished.co/adaptive-asked-medicares-contractor-for-a-five-test-myeloma-maintenance-bundle-ceo-says-2f7e7228/)
- [Adaptive Biotechnologies Says CEO's Brother May Take A Role In Immune Medicine After Separation](https://www.bullished.co/adaptive-biotechnologies-says-ceos-brother-may-take-a-role-in-immune-medicine-after-b1577078/)

[All Adaptive Biotechnologies (ADPT) coverage →](https://www.bullished.co/tag/adpt/)