Adaptive Biotechnologies Corp
ADPTQ2 2023(ADPT Q1 FY2023)Estimated10% AI
AI Revenue %
10%
AI Fair Value
$105.7M
AI Revenue (Q)
$3.8M
Total Revenue (Q)
$37.6M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Revenue of $37.6M (single segment reporting). The company mentions T-Detect COVID was discontinued prior to 2023, reducing Immune Medicine revenue. Genentech was not >10% of revenue in Q1 2023 standalone (it was 26.6% in the Q1 2024 comparative, likely referring to Q1 2023 Genentech at 26.6%). If Genentech was 26.6% of $37.6M = ~$10.0M in Q1 2023, this suggests IM was large that quarter due to Genentech milestone. However, Genentech milestones are for regulatory achievements of TCR cell therapy -- AI/ML is used in discovery but the milestone is for clinical/regulatory progress. Applying 25% AI attribution to milestone-heavy quarters and 50% to recurring IM: ~10% total seems appropriate.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $37,647K for three months ended March 31, 2023
10-Q filed 2023-05-10, Income Statement
Genentech, Inc. and Roche Group...26.6% [of revenue in Q1 2023]
10-Q filed 2024-05-08, Revenue Concentration table
AI Products Identified (Ring 1)
Immune Medicine TCR-Antigen MapGenentech TCR-based cell therapy collaboration (AI/ML-enabled discovery)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
clonoSEQ diagnostic test (NGS-based)MRD Pharma testing servicesAdaptive Immunosequencing sample testing
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix