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Adaptive Biotech Valuation Multiples

Discover revenue and EBITDA valuation multiples for Adaptive Biotech and similar public comparables like Biohit, Proteomics International, and AnteoTech.

Adaptive Biotech Overview

About Adaptive Biotech

Adaptive Biotechnologies Corp is a company advancing the field of immune-driven medicine by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its clinical diagnostic product, clonoSEQ, is test authorized by the FDA for the detection and monitoring of minimal residual disease (MRD) in patients with multiple myeloma (MM), B cell acute lymphoblastic leukemia (ALL) and chronic lymphocytic leukemia (CLL) and is also available as a CLIA-validated laboratory developed test (LDT) for patients with other lymphoid cancers, including diffuse large B-cell lymphoma (DLBCL).


Founded

2009

HQ

United States of America
Employees

619

Financials

LTM Revenue $189M

LTM EBITDA -$70.3M

EV

$1.0B

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Adaptive Biotech Financials

Adaptive Biotech has a last 12-month revenue of $189M and a last 12-month EBITDA of -$70.3M.

In the most recent fiscal year, Adaptive Biotech achieved revenue of $179M and an EBITDA of -$129M.

Adaptive Biotech expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Adaptive Biotech P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $170M $179M XXX XXX XXX
Gross Profit $127M $94.7M XXX XXX XXX
Gross Margin 75% 53% XXX XXX XXX
EBITDA -$189M -$129M XXX XXX XXX
EBITDA Margin -111% -72% XXX XXX XXX
Net Profit -$200M -$225M XXX XXX XXX
Net Margin -118% -126% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Adaptive Biotech Stock Performance

As of April 15, 2025, Adaptive Biotech's stock price is $8.

Adaptive Biotech has current market cap of $1.2B, and EV of $1.0B.

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Adaptive Biotech Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.0B $1.2B XXX XXX XXX XXX $-1.03

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Adaptive Biotech Valuation Multiples

As of April 15, 2025, Adaptive Biotech has market cap of $1.2B and EV of $1.0B.

Adaptive Biotech's trades at 5.5x LTM EV/Revenue multiple, and -14.6x LTM EBITDA.

Analysts estimate Adaptive Biotech's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Adaptive Biotech Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $1.0B XXX XXX XXX
EV/Revenue 5.8x XXX XXX XXX
EV/EBITDA -8.0x XXX XXX XXX
P/E -7.3x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -10.4x XXX XXX XXX

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Adaptive Biotech Valuation Multiples

Adaptive Biotech's NTM/LTM revenue growth is 20%

Adaptive Biotech's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.4M for the same period.

Over next 12 months, Adaptive Biotech's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Adaptive Biotech's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Adaptive Biotech Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 5% XXX XXX XXX XXX
EBITDA Margin -72% XXX XXX XXX XXX
EBITDA Growth -32% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -52% XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $0.4M XXX XXX XXX XXX
S&M Expenses to Revenue 47% XXX XXX XXX XXX
G&A Expenses to Revenue 41% XXX XXX XXX XXX
R&D Expenses to Revenue 58% XXX XXX XXX XXX
Opex to Revenue 147% XXX XXX XXX XXX

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Adaptive Biotech Public Comps

See public comps and valuation multiples for Pharma Diagnostics & Analytics and Drug Development & Therapeutics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Zomedica XXX XXX XXX XXX XXX XXX
AnteoTech XXX XXX XXX XXX XXX XXX
Proteomics International XXX XXX XXX XXX XXX XXX
Biohit XXX XXX XXX XXX XXX XXX
Genomictree XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Adaptive Biotech M&A and Investment Activity

Adaptive Biotech acquired  XXX companies to date.

Last acquisition by Adaptive Biotech was  XXXXXXXX, XXXXX XXXXX XXXXXX . Adaptive Biotech acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Adaptive Biotech

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Adaptive Biotech

When was Adaptive Biotech founded? Adaptive Biotech was founded in 2009.
Where is Adaptive Biotech headquartered? Adaptive Biotech is headquartered in United States of America.
How many employees does Adaptive Biotech have? As of today, Adaptive Biotech has 619 employees.
Who is the CEO of Adaptive Biotech? Adaptive Biotech's CEO is Mr. Chad M. Robins.
Is Adaptive Biotech publicy listed? Yes, Adaptive Biotech is a public company listed on NAS.
What is the stock symbol of Adaptive Biotech? Adaptive Biotech trades under ADPT ticker.
When did Adaptive Biotech go public? Adaptive Biotech went public in 2019.
Who are competitors of Adaptive Biotech? Similar companies to Adaptive Biotech include e.g. Zomedica, AnteoTech, Proteomics International, Biohit.
What is the current market cap of Adaptive Biotech? Adaptive Biotech's current market cap is $1.2B
What is the current revenue of Adaptive Biotech? Adaptive Biotech's last 12-month revenue is $189M.
What is the current EBITDA of Adaptive Biotech? Adaptive Biotech's last 12-month EBITDA is -$70.3M.
What is the current EV/Revenue multiple of Adaptive Biotech? Current revenue multiple of Adaptive Biotech is 5.5x.
What is the current EV/EBITDA multiple of Adaptive Biotech? Current EBITDA multiple of Adaptive Biotech is -14.6x.
What is the current revenue growth of Adaptive Biotech? Adaptive Biotech revenue growth between 2023 and 2024 was 5%.
Is Adaptive Biotech profitable? Yes, Adaptive Biotech is EBITDA-positive (as of the last 12 months).

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