Adaptive Biotechnologies Corporation · NASDAQ:ADPT
Adaptive Biotechnologies — Q2 2026 Earnings Presentation
13 slides from Adaptive Biotechnologies's earnings presentation, 2026
Slide 1: Second Quarter 2026 Earnings Conference Call
Second Quarter 2026 Earnings Conference Call
Slide 2: Safe Harbor
Safe Harbor This presentation has been prepared by Adaptive Biotechnologies Corporation (“we,” “us,” “our,” “Adaptive” or the “Company”) and is made for informational purposes only. The information set forth herein does not purport to be complete or to contain all relevant information. Statements co
Slide 3: Q2 highlights: strong execution driving growth and strategic value
Q2 highlights: strong execution driving growth and strategic value MRD results Strategic plan Strong balance sheet Continued strong execution Announced plan to separate Successfully executed driving growth and probability MRD and IM businesses convertible financing ~$357M Revenue Clinical tests Seq.
Slide 4: MRD
MRD
Slide 5: Clinical testing: strong volume growth across indications
Clinical testing: strong volume growth across indications Clinical testing revenue increased 53% Y/Y (volume +43%; ASP +7% Y/Y @$1,382) ClonoSEQ test volumes Q2’26 performance per indication 36,111 Contribution Growth 32,595 30,038 6% 3% 27,111 11% Q/Q Y/Y 25,321 9% 23,117 11% ALL 3% 21% 7% 10% 10%
Slide 6: Clinical testing: growth trajectory of key drivers continues
Clinical testing: growth trajectory of key drivers continues Blood-based testing contribution Community tests contribution 51% 36% 35% 47% 49% +68% 33% +65% 45% Y/Y test growth 31% 31% Y/Y test growth 44% in blood in community Q2 - 25 Q3 - 25 Q4 - 25 Q1-26 Q2 - 26 Q2 - 25 Q3 - 25 Q4 - 25 Q1 - 26 Q2
Slide 7: MRD pharma: strong growth with healthy backlog
MRD pharma: strong growth with healthy backlog Q2’26 revenue growth of 38% Y/Y excluding milestones (including milestones: -6% Y/Y) ▪ Healthy backlog of ~$245M (+12% Y/Y) → 60% from MM, 22% from CLL, 10% from ALL Business focus: continue increasing regulated/interventional studies across indications
Slide 8: 2026 MRD key goals progress
2026 MRD key goals progress Goals set at beginning of 2026 Progress to annual goals clonoSEQ test volumes: >30% growth ‘26/’25 38%-40% growth ‘26/’25 ▪ Increase testing in blood: >50% ▪ At 51% in Q2’26 v ▪ Community presence: >35% ▪ At 36% in Q2’26 ▪ EMR integrations: integrate ~40 add’l accounts ▪
Slide 9: Immune Medicine (IM): Separation from ADPT, Rationale and Progress
Immune Medicine (IM) Separation from ADPT Rationale and Progress
Slide 10: Q2 2026 financial highlights
Q2 2026 financial highlights Revenue and Operating Total Revenue1 Total OPEX Expenses ($M) $71.6 +30% $83.92 $87.32 $54.91 +8% 5.4 21.2 G&A 17.8 4% 5.01 23.6 26.4 S&M 66.2 +33% MRD 49.9 24.1 R&D 19.2 Immune Medicine 18.0 20.2 COR Q2 2025 Q2 2026 Q2 2025 Q2 2026 Segment Performance ($M) MRD IM Total
Slide 11: FY 2026 updated guidance
FY 2026 updated guidance ◼ FY 2026 revenue guidance: ❑ MRD revenue between $268M and $278M (vs previous guidance between $260M and $270M) ❑ MRD milestones of $9M (all recognized in Q1’26) ◼ FY 2026 operating expenses guidance: ❑ OPEX between $350M and $355M (vs previous guidance between $350M and $3
Slide 12: Appendix: Reconciliations between Adjusted EBITDA and net loss
Appendix: Reconciliations between Adjusted EBITDA and net loss attributable to Adaptive Biotechnologies Corporation & Segment Information The following sets forth a reconciliation between our Adjusted EBITDA and net loss attributable to Adaptive Biotechnologies Corporation, the most directly compara
Slide 13: Appendix: Segment Information
Appendix: Reconciliations between Adjusted EBITDA and net loss attributable to Adaptive Biotechnologies Corporation & Segment Information The following sets forth segment information for each of the periods presented (in thousands): 13
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