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Mar 31, 2023
Adaptive Biotechnologies Q1 2023 Earnings Report
Adaptive Biotechnologies reported a decrease in revenue but an increase in clonoSEQ test volume and reiterated its full year 2023 revenue guidance.
Key Takeaways
Adaptive Biotechnologies reported a 3% decrease in revenue for the first quarter of 2023, totaling $37.6 million, while clonoSEQ test volume increased by 57%. The company reiterated its full year 2023 revenue guidance to be in the range of $205 million to $215 million.
Revenue was $37.6 million, a 3% decrease compared to the first quarter of the prior year.
clonoSEQ test volume increased 57% compared to the first quarter of the prior year.
Immune Medicine generated $16.2 million in revenue, representing 43% of total first quarter revenue.
Net loss was $57.7 million, compared to $62.8 million for the same period in 2022.
Revenue by Segment
Forward Guidance
Adaptive Biotechnologies reiterates full year 2023 revenue to be in the range of $205 million to $215 million. We continue to expect operating expenses, including cost of revenue, to be below full year 2022 operating expenses of $385.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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