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Adaptive Biotechnologies Corp (ADPT)
NASDAQ:ADPT
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.26Last Year’s EPS
-$0.48Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 13.50%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong growth in MRD revenue and significant cost optimizations, with positive developments in both clinical and pharma sectors. However, challenges remain in Immune Medicine revenue and potential external impacts. Overall, the positive aspects significantly outweigh the negative trends.Company Guidance
During the Adaptive Biotechnologies Q3 2024 earnings call, several metrics highlighted the company's strong performance and strategic advancements. MRD revenue surged by 52% year-over-year, fueled by clinical and pharma sectors, with Medicare setting a new gapfill rate of $2,007 for the clonoSEQ test, marking a 17% increase. Furthermore, Medicare coverage was secured for mantle cell lymphoma. Operating expenses declined by 11% year-over-year, and sequencing gross margins improved by 6 percentage points from the previous quarter. Cash levels stood at approximately $267 million, with a 38% reduction in cash burn over the first nine months compared to the prior year. The company raised the lower end of its MRD revenue guidance and adjusted its full-year operating expenses and cash burn targets. Additionally, clonoSEQ test volumes increased by 30% year-over-year, with continued growth across all marketed indications.MRD Revenue Growth
MRD revenue increased 52% year-over-year, driven by clinical and pharma sectors. Key milestones include a 17% increase in the Medicare gapfill rate for the clonoSEQ test and securing Medicare coverage for mantle cell lymphoma.
Improved Operating Spend and Cash Burn
Operating spend declined 11% year-over-year, and cash burn reduced by 38% in the first nine months compared to the previous year.
Pharma Business Revenue Surge
Pharma revenue grew by 73% year-over-year, including $5 million in regulatory milestone revenue, with significant momentum following the ODAC recommendation.
Sequencing Gross Margin Increase
Sequencing gross margin increased by 6 percentage points compared to the last quarter due to efficiencies in workflow, leading to reduced per sample cost.
Epic EMR Integration Success
Completed Epic integrations for 6 accounts, including MD Anderson, now live with 11 accounts, and have 9 more scheduled by year-end, representing about 20% of projected 2024 volume.
Guidance Updates and Financial Improvements
Raised lower end of MRD revenue guidance for the full year and reduced full-year operating expense and cash burn targets.
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ADPT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ADPT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $5.63 | $5.82 | +3.37% |
| Aug 01, 2024 | $4.45 | $4.30 | -3.37% |
| May 07, 2024 | $3.11 | $3.18 | +2.25% |
| Feb 14, 2024 | $3.94 | $3.96 | +0.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Adaptive Biotechnologies Corp (ADPT) report earnings?
Adaptive Biotechnologies Corp (ADPT) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Adaptive Biotechnologies Corp (ADPT) earnings time?
Adaptive Biotechnologies Corp (ADPT) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ADPT EPS forecast?
ADPT EPS forecast for the fiscal quarter 2024 (Q4) is -$0.26.
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