Adaptive Biotechnologies MRD Testing Drives Q2 Revenue Growth
The Seattle-based diagnostics firm's MRD segment, which contributed 92 percent of revenue, grew 33 percent year over year.
Adaptive Biotechnologies after the close of the market on July 29 that its second quarter revenue grew 22 percent year over year.
The Seattle-based diagnostics company reported Q2 revenue of $71.6 million, up from $58.9 million in Q2 2025, beating the consensus Wall Street estimate of $65.5 million. Excluding the company’s deal with Genentech, which generated no revenue in Q2 2026, revenue grew 30 percent year over year.
Minimal residual disease (MRD) revenue grew 33 percent year over year to $66.2 million from $49.9 million a year ago, driven by a 43 percent increase in clonoSEQ test volume to 36,111 tests delivered. Immune Medicine revenue fell 40 percent to $5.4 million from $8.9 million a year ago, reflecting the wind-down of the Genentech Agreement; excluding that agreement, Immune Medicine revenue grew 8 percent year over year.
The company’s net loss for the quarter was $39.8 million, or $.25 per share, compared to a loss of $25.6 million, or $.17 per share, in Q2 2025, missing the consensus Wall Street estimate of $.13 loss per share. The Q2 2026 figure includes a $23.7 million loss on the extinguishment of the OrbiMed revenue interest liability. Excluding that charge, net loss was $16.2 million.
Adaptive’s R&D expenses fell 21 percent to $19.2 million from $24.1 million in Q2 2025. SG&A expenses rose 12 percent to $47.6 million from $41.4 million a year ago.
“We delivered an exceptional second quarter, driven by expanding growth and profitability in MRD, including both our clinical and biopharma businesses,” CEO Chad Robins said in a statement.
During the quarter, Adaptive completed a $345 million convertible senior notes offering and announced plans to separate its MRD and Immune Medicine businesses.
As of June 30, Adaptive had $169.9 million in cash and cash equivalents, $174.4 million in short-term marketable securities, $27.5 million in long-term marketable securities and $2.7 million in restricted cash.
Adaptive raised its full-year 2026 MRD revenue guidance to $268 million to $278 million, implying annual growth of 26 to 31 percent, from a prior range of $260 million to $270 million.