Adaptive Biotechnologies Reports Second Quarter 2025 Financial Results

Core Insights - Adaptive Biotechnologies reported strong financial results for Q2 2025, achieving profitability in its Minimal Residual Disease (MRD) business with significant revenue growth [2][4][8] - The company raised its MRD revenue guidance for the full year 2025, reflecting confidence in continued growth [8] Financial Performance - Total revenue for Q2 2025 was $58.9 million, a 36% increase from Q2 2024 [4] - MRD revenue reached $49.9 million, marking a 42% increase year-over-year, while Immune Medicine revenue was $8.9 million, up 13% [4] - Operating expenses decreased to $83.9 million from $90.5 million in the prior year, a 7% reduction [5] - The net loss for Q2 2025 was $25.6 million, significantly improved from a loss of $46.2 million in Q2 2024 [6] Adjusted EBITDA and Cash Position - Adjusted EBITDA for Q2 2025 was a loss of $7.2 million, an improvement from a loss of $21.4 million in the same quarter last year [7][26] - As of June 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $222.0 million [7] Updated Financial Guidance - The company updated its full-year MRD revenue guidance to a range of $190 million to $200 million, up from the previous range of $180 million to $190 million, indicating an expected annual growth of 31% to 37% [8] - Total company operating expenses for the full year are expected to be between $335 million and $345 million, with cash burn guidance reduced to $45 million to $55 million [9]