Adaptive Biotechnologies Raises MRD Revenue Guidance to $260M–$270M After 53% Q1 Growth
Adaptive Biotechnologies reported Q1 revenue of $70.9 million, up 35% year-over-year, driven by MRD business which grew 53% to $67.1 million; clonoSEQ test volume rose 41% to 32,595 tests. The company raised full-year MRD revenue guidance to $260–$270 million and narrowed operating expense forecast to $350–$360 million, while net loss narrowed to $20.0 million.
1. First Quarter Revenue and Growth
Adaptive Biotechnologies generated $70.9 million in revenue for Q1 2026, marking a 35% increase from Q1 2025. The MRD segment contributed $67.1 million, up 53%, while Immune Medicine revenue declined 57% to $3.8 million.
2. Profitability and Expenses
Operating expenses for the quarter rose 10% to $90.1 million, reflecting continued investment in platform expansion. Net loss narrowed to $20.0 million from $29.8 million a year earlier, and adjusted EBITDA loss improved to $2.5 million from $12.7 million.
3. Test Volume and Milestones
clonoSEQ test volume increased 41% to 32,595 tests delivered in Q1, underscoring accelerating adoption in clinical settings. The company also recognized $9.0 million in MRD pharma regulatory milestone revenue, its first U.S. primary endpoint milestone.
4. Updated 2026 Guidance
Adaptive Biotechnologies raised its full-year MRD revenue outlook to $260–$270 million, up from $255–$265 million, implying 22–27% growth. It forecast total operating expenses between $350–$360 million for 2026.