Adaptive Biotechnologies Corp
For the period ended Mar 31, 2025. Filed May 1, 2025.
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Mar 31, 2025 · Filed May 1, 2025
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7. Leases
We have operating lease agreements for laboratory, office and warehouse facilities in Seattle, Washington, South San Francisco, California and Bothell, Washington. As of March 31, 2025, we were not party to any finance leases.
The following table reconciles our undiscounted operating lease cash flows to our operating lease liabilities, less current portion balance on the unaudited condensed consolidated balance sheet as of March 31, 2025 (in thousands):
| 2025 (excluding the three months ended March 31, 2025) | $10,602 |
| 2026 | 12,330 |
| 2027 | 11,944 |
| 2028 | 12,282 |
| 2029 | 12,630 |
| Thereafter | 44,332 |
| Total undiscounted lease payments | 104,120 |
| Less: Imputed interest | (17,220) |
| Total operating lease liabilities | 86,900 |
| Less: Current portion | (10,462) |
| Operating lease liabilities, less current portion | $76,438 |
During the three months ended March 31, 2025 and 2024, cash paid for amounts included in the measurement of lease liabilities was$3.0 million and $3.7 million, respectively.
We have $2.1 million in letters of credit with one of our financial institutions in connection with certain of our leases.
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