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Jun 30, 2023
Adaptive Biotechnologies Q2 2023 Earnings Report
Adaptive Biotechnologies reported a strong quarter with clonoSEQ test volume growth and FDA IND acceptance in cancer cell therapy.
Key Takeaways
Adaptive Biotechnologies reported a revenue of $48.9 million for the second quarter of 2023, representing a 12% increase compared to the same period last year. The company continues to drive operational efficiencies, as reflected by a 5% decrease in operating expenses, excluding the cost of revenue.
Revenue of $48.9 million for the second quarter 2023, representing 12% growth from $43.7 million in the second quarter 2022.
clonoSEQ test volume in the second quarter 2023 grew 52% to 13,665 tests delivered versus the second quarter of prior year.
FDA accepted an investigational new drug (IND) application by Genentech for the first T-cell receptor (TCR) based therapeutic product candidate in oncology.
Operating efficiencies improved, with a 5% decrease in operating expenses, excluding cost of revenue, for the second quarter 2023 versus the same period last year.
Revenue by Segment
Forward Guidance
Adaptive Biotechnologies reiterates full year 2023 revenue to be in the range of $205 million to $215 million. The company continues 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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