Q - Adaptive Biotechnologies
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 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. During the three months ended June 30, 2024, we vacated certain leased space in South San Francisco, California and incurred a related impairment charge. See Note 12, Restructuringsfor more information. As of June 30, 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 June 30, 2025 (in thousands):
| 2025 (excluding the six months ended June 30, 2025) | $7,093 |
| 2026 | 12,330 |
| 2027 | 11,944 |
| 2028 | 12,282 |
| 2029 | 12,630 |
| Thereafter | 44,332 |
| Total undiscounted lease payments | 100,611 |
| Less: Imputed interest | (16,241) |
| Total operating lease liabilities | 84,370 |
| Less: Current portion | (9,957) |
| Operating lease liabilities, less current portion | $74,413 |
During the six months ended June 30, 2025 and 2024, cash paid for amounts included in the measurement of lease liabilities was$7.2 million and $7.0 million, respectively.
We have $2.1 million in letters of credit with one of our financial institutions in connection with certain of our leases.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.