Adaptive Biotechnologies Corp
For the period ended Mar 31, 2026. Filed May 5, 2026.
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Mar 31, 2026 · Filed May 5, 2026
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3. Revenue
We disaggregate our revenue from contracts with customers by business area and type of arrangement, as we believe this best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.
The following table presents our disaggregated revenue for the periods presented (in thousands):
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| MRD revenue | ||
| Service revenue | $58,093 | $39,221 |
| Regulatory milestone revenue | 9,000 | 4,500 |
| Total MRD revenue | 67,093 | 43,721 |
| Immune Medicine revenue | ||
| Service and licensing revenue | 3,781 | 5,122 |
| Collaboration revenue(1) | — | 3,600 |
| Total Immune Medicine revenue | 3,781 | 8,722 |
| Total revenue | $70,874 | $52,443 |
(1) On August 13, 2025, the Genentech Agreement was terminated, with termination effective February 9, 2026.
During the three months ended March 31, 2026 and 2025, we recognized $2.6 million and $2.0 million, respectively, in MRD service revenue related to Medicare reimbursements resulting from our determination that the likelihood of additional testing for specific patients was remote.
As of March 31, 2026, we could receive up to an additional$386.0 million in milestone payments in future periods if certain regulatory approvals are obtained by our customers’ therapeutics in connection with MRD data generated from our MRD product.
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