Adaptive Biotechnologies Q2 2020 Earnings Report

Adaptive Biotechnologies' financial performance decreased compared to the same quarter last year, with revenue declining slightly and a net loss reported.

Key Takeaways

Adaptive Biotechnologies reported a slight decrease in revenue compared to the same quarter last year. The company's net loss increased significantly due to higher operating expenses. They are not providing 2020 financial guidance due to COVID-19 uncertainties.

Revenue was $21.0 million, a 5% decrease year-over-year.

Clinical sequencing volume increased 31% compared to Q2 2019.

Advanced immunoSEQ Dx clinical product for SARS-CoV-2.

Strengthened balance sheet with approximately $271.7 million in net proceeds from public offering.

Total Revenue

$21M

Previous year: $22.1M

-5.2%

EPS

-$0.26

Previous year: -$1.23

-78.9%