Overview

* Adaptive Biotechnologies ( ADPT ) Q2 revenue grows 36%, beating analyst expectations, per LSEG data

* MRD business achieves profitability with $1.9 mln adjusted EBITDA

* Co raises full-year MRD revenue guidance, lowers cash burn targets

Outlook

* Adaptive Biotechnologies ( ADPT ) raises full-year MRD revenue guidance to $190 mln-$200 mln

* Company reduces full-year cash burn guidance to $45 mln-$55 mln

Result Drivers

* MRD GROWTH - MRD revenue increased 42% year-over-year, contributing 85% of total revenue

* CLONOSEQ VOLUME - clonoSEQ test volume grew 37% compared to the prior year

* PROFITABILITY ACHIEVED - MRD business reached profitability with $1.9 mln adjusted EBITDA

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $58.88 $49.40

Revenue mln mln (7

Analysts

)

Q2 EPS -$0.17

Q2 Net -$25.59

Income mln

Q2 Beat -$7.20 -$14.70

Adjusted mln mln (3

EBITDA Analysts

)

Q2 $83.92

Operatin mln

g

Expenses

Q2 -$25.04

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Adaptive Biotechnologies Corp ( ADPT ) is $12.50, about 12.7% above its August 4 closing price of $10.91

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)