ADPT · Adaptive Biotechnologies Corp Q2 FY2026 earnings call record财报电话会记录

“Clinical revenue increased 53% year-over-year, driven by a 43% increase in testing volumes and a 7% increase in ASP.”

“We're growing volumes, expanding adoption across indications, and improving pricing.”

“We ended the quarter with 189 active global clinical trials and a backlog of approximately $245 million, up 12% from a year ago.”

“Based on the first half performance and continued momentum, we now expect volume growth between 38%-40% this year, which is well above our initial target of more than 30%.”

“Turning to margins, sequencing gross margin, which excludes MRD milestones, was 72% for the quarter, up from 64% a year ago.”

“This reflects lower assay costs following our NovaSeq X transition, along with continued operating leverage as volumes grow.”

“At the segment level, MRD adjusted EBITDA increased to $9.1 million compared to $1.9 million a year ago, reflecting the combination of strong revenue growth and continued operating leverage.”

“GAAP net loss for the quarter was $39.9 million, which included $26.4 million of debt extinguishment expense and interest expense related to our now settled OrbiMed financing agreement.”

“We are raising our full year MRD revenue guidance to a range of $268 million-$278 million, up from our prior range of $260 million-$270 million.”

“This increase reflects stronger than expected clinical volume and pharma sequencing performance in the second quarter, as well as higher year-over-year clinical volume growth of 38%-40% versus our prior guidance of 35%.”

“If I look at the concentration of volumes in that quarter, our top 100 or so users make up around 10% of that volume.”

“The new volume guide, 38-40, does imply still a slowdown from the low 40s growth rate this year.”