Adaptive Biotechnologies Reports USD 48.9 Million Total Revenue and USD -47.8 Million Net Income for Q2 FY 2023
August 8, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2023, ending June 30, 2023, ADAPTIVE BIOTECHNOLOGIES ($NASDAQ:ADPT) reported total revenue of USD 48.9 million, a 12.1% increase compared to the same period last year. Net income, however, decreased by 7.2%, amounting to USD -47.8 million.
Stock Price
On Wednesday, ADAPTIVE BIOTECHNOLOGIES reported total revenue of USD 48.9 million and net income of USD -47.8 million for the second quarter of fiscal year 2023. This marked a decrease of 3.5% from the previous closing price of $8.2. The share price opened at $8.0 and closed at the same price at the end of the day. Adaptive Biotechnologies is a bioinformatics company that creates integrated technology solutions for the clinical healthcare industry. It uses genomic sequencing and artificial intelligence to identify and diagnose various diseases and conditions, making it an invaluable resource for medical professionals and their patients. Furthermore, Adaptive Biotechnologies has been making strides in the industry, developing innovative tests and tools to help doctors detect diseases more accurately and quickly.
Additionally, Analysts expect the company’s revenue to remain steady over the next twelve months, with continued growth in the long-term. Overall, while Adaptive Biotechnologies reported a slight decrease in its share price, its total revenue and long-term prospects remain strong. As the company continues to develop advanced solutions for the clinical healthcare industry, it is well-positioned to benefit from an increasingly digitalized healthcare sector in the long run. Live Quote…
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 |
| 189.6 | -190.92 | -100.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Adaptive Biotechnologies. More…
| Operations | Investing | Financing |
| -155.13 | 60.77 | 127.67 |
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 |
| 764.54 | 368.57 | 2.74 |
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 |
| 27.2% | – | -94.7% |
| FCF Margin | ROE | ROA |
| -89.5% | -27.4% | -14.7% |
Analysis
At GoodWhale we recently conducted an analysis of ADAPTIVE BIOTECHNOLOGIES‘ wellbeing. After examining the financial and business aspects, we have assigned the company a medium risk rating. During our investigation we detected two risk warnings in the company’s balance sheet and cashflow statement. If you would like to take a closer look at the analysis, and the risks associated with this company, register on goodwhale.com. Here you can access our comprehensive report and make an informed decision about investing in ADAPTIVE BIOTECHNOLOGIES. More…
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
Investors may be concerned with the latest financial results of ADAPTIVE BIOTECHNOLOGIES, reporting a total revenue of USD 48.9 million and a net income of USD -47.8 million for the second quarter of fiscal year 2023, ending June 30, 2023. This marks a 12.1% increase in total revenue from the same period last year, but a 7.2% decrease in net income when compared to the same quarter of the previous year. Consequently, the stock price responded negatively to the news and investors are now left wondering if this is a short-term hiccup or a sign that the company may have difficulty in maintaining profitability. Investors should assess the long-term potential of the company and its products to determine if they should invest or divest.
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