ADAPTIVE BIOTECHNOLOGIES Reports 20.7% Decrease in Revenue for Q3 FY2023
November 21, 2023
🌥️Earnings Overview
On September 30, 2023, ADAPTIVE BIOTECHNOLOGIES ($NASDAQ:ADPT) reported their third quarter earnings results for FY2023, with total revenue of USD 37.9 million, representing a decrease of 20.7% from the same period the previous year. Net income for the quarter was -50.3 million, compared to -45.3 million in the same quarter of the prior year.
Analysis
Analyzing ADAPTIVE BIOTECHNOLOGIES‘s fundamentals with the help of GoodWhale can provide a useful insight into the company’s financial health. According to the Star Chart, ADAPTIVE BIOTECHNOLOGIES has an intermediate health score of 4/10 considering its cashflows and debt, which suggests that it might be able to pay off debt and fund future operations. Furthermore, the company is strong in asset and growth, but weak in dividend and profitability. ADAPTIVE BIOTECHNOLOGIES is classified as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. As such, investors who are looking for a potential high-growth stock that may come with higher risk may be interested in ADAPTIVE BIOTECHNOLOGIES. These investors may value the potential upside and be willing to take on the risk that comes with investing in a ‘cheetah’ stock. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Adaptive Biotechnologies. More…
| Total Revenues | Net Income | Net Margin |
| 179.69 | -195.94 | -109.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Adaptive Biotechnologies. More…
| Operations | Investing | Financing |
| -159.41 | 28.9 | 2.16 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Adaptive Biotechnologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 717.68 | 356.05 | 2.5 |
Key Ratios Snapshot
Some of the financial key ratios for Adaptive Biotechnologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.8% | – | -101.1% |
| FCF Margin | ROE | ROA |
| -95.4% | -30.0% | -15.8% |
Peers
Adaptive Biotechnologies Corp is a biotechnology company that develops products to diagnose and treat cancer and other diseases. The company’s products are based on its proprietary technology platforms, which enable the company to identify and target cancer cells and other diseased cells. The company’s products include diagnostic tests and treatments for cancer, autoimmune diseases, and infectious diseases.
The company’s main competitors are Forte Biosciences Inc, Synaptogenix Inc, and Resverlogix Corp.
– Forte Biosciences Inc ($NASDAQ:FBRX)
Forte Biosciences Inc is a clinical-stage biopharmaceutical company that focuses on the development of therapeutics to improve patient outcomes in dermatology and immunology. The company’s lead product candidate is Vixari, a topical formulation of an anti-TNF-alpha biologic, which is in Phase 2 clinical trials for the treatment of plaque psoriasis. Forte Biosciences has a market cap of 20.95M as of 2022 and a Return on Equity of -42.75%. The company’s focus on developing therapeutics to improve patient outcomes in dermatology and immunology makes it a promising investment opportunity in the healthcare sector.
– Synaptogenix Inc ($NASDAQ:SNPX)
Synaptogenix is a clinical-stage biotechnology company developing drugs to treat neurodegenerative diseases. The company’s lead product candidate, SYN-115, is in development for the treatment of Alzheimer’s disease. Synaptogenix has a market cap of $43.23 million as of 2022 and a return on equity (ROE) of -38.9%. The company’s clinical-stage drugs are not yet approved for commercial use, which makes it a high-risk investment. However, the potential rewards for investors are significant if Synaptogenix is successful in developing an effective treatment for Alzheimer’s disease.
– Resverlogix Corp ($TSX:RVX)
Resverlogix Corp. is a biopharmaceutical company, which engages in the development of small molecule therapeutics for the treatment of atherosclerosis and associated diseases. Its products include RVX-208, RVX-210, and BETonMACE. The company was founded by Norman W. Wong on February 3, 2004 and is headquartered in Calgary, Canada.
Summary
Adaptive Biotechnologies‘ third quarter earnings report brought some concerning news to investors, as total revenue was down 20.7%, leading to a net loss of -50.3 million for the quarter. This was a significant increase from the prior year’s loss of -45.3 million, and the stock price fell sharply in response to the announcement. Investors should be cautious when considering investing in Adaptive Biotechnologies, as the company’s profitability is uncertain and decreasing. However, the company’s innovative technology has potential to drive strong performance in the future.
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