Adaptive Biotechnologies Corp
ADPTQ1 2025(ADPT Q4 FY2024)Derived10% AI
AI Revenue %
10%
AI Fair Value
$176.1M
AI Revenue (Q)
$12.4M
Total Revenue (Q)
$124.5M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 2024 implied from 10-K and 9-month data. 9-month 2024 total: $131.5M. FY2024 implied ~$183M (Q4 ~$51.5M). 9-month MRD: $105.4M, IM: $26.1M. FY2024 MRD implied ~$140M, IM implied ~$43M, Q4 IM ~$17M. However, the spike in Q4 IM likely reflects Genentech milestone or catch-up recognition. With milestones, apply 25% AI attribution to incremental portion and 50% to base ~$9M: Base AI = $4.5M + 25% * ($17M-$9M) = $4.5M + $2.0M = $6.5M. AI% = $6.5M / $51.5M = 12.6%. However, without confirmed segment split for Q4, conservatively estimate 10%.
Analyzed by claude-opus-4-6
Quoted Figures
Nine months ended September 30, 2024: MRD $105,380K, IM $26,118K, Total $131,498K
10-Q filed 2024-11-07, Segment Information
In 2024, we reorganized our company around two main businesses: MRD and Immune Medicine
10-K FY2024, Item 1 Business
AI Products Identified (Ring 1)
TCR-Antigen Map (AI/ML-driven immune receptor-disease mapping)Genentech TCR cell therapy collaborationPrecision immunology drug 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 (MRD segment)MRD Pharma testing services
Confidence Tier
DerivedCalculated from reported segments primarily serving AI