$ADPT
Adaptive Biotechnologies Corp

2022 Q1 Form 10-Q Financial Statement

#000156459022017870 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $38.62M $38.44M
YoY Change 0.46% 83.85%
Cost Of Revenue $13.19M $9.991M
YoY Change 32.04% 87.1%
Gross Profit $25.43M $28.45M
YoY Change -10.63% 82.73%
Gross Profit Margin 65.84% 74.01%
Selling, General & Admin $49.34M $35.54M
YoY Change 38.82% 37.59%
% of Gross Profit 194.03% 124.92%
Research & Development $32.60M $33.77M
YoY Change -3.47% 41.09%
% of Gross Profit 128.2% 118.7%
Depreciation & Amortization $5.056M $2.252M
YoY Change 124.51% 44.92%
% of Gross Profit 19.88% 7.92%
Operating Expenses $86.90M $69.73M
YoY Change 24.62% 191.33%
Operating Profit -$63.07M -$41.28M
YoY Change 52.78% 19.24%
Interest Expense $271.0K $640.0K
YoY Change -57.66% -77.85%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$62.80M -$40.64M
YoY Change 54.52% 28.08%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$62.74M -$40.64M
YoY Change 54.36% 29.42%
Net Earnings / Revenue -162.44% -105.72%
Basic Earnings Per Share -$0.44
Diluted Earnings Per Share -$442.7K -$292.4K
COMMON SHARES
Basic Shares Outstanding 141.7M 139.2M
Diluted Shares Outstanding 141.7M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $363.6M $714.3M
YoY Change -49.1% 28.66%
Cash & Equivalents $114.8M $175.8M
Short-Term Investments $248.8M $540.6M
Other Short-Term Assets $12.04M $13.50M
YoY Change -10.83% 40.63%
Inventory $21.00M $17.40M
Prepaid Expenses
Receivables $22.52M $19.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $419.1M $765.0M
YoY Change -45.21% 30.85%
LONG-TERM ASSETS
Property, Plant & Equipment $171.6M $144.8M
YoY Change 18.53% 480.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $137.1M $30.70M
YoY Change 346.61% -69.48%
Other Assets $3.256M $2.900M
YoY Change 12.28% -6.45%
Total Long-Term Assets $439.1M $307.1M
YoY Change 42.97% 5.8%
TOTAL ASSETS
Total Short-Term Assets $419.1M $765.0M
Total Long-Term Assets $439.1M $307.1M
Total Assets $858.2M $1.072B
YoY Change -19.95% 22.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.959M $5.200M
YoY Change 14.6% 33.33%
Accrued Expenses $25.60M $23.20M
YoY Change 10.36% 144.21%
Deferred Revenue $78.35M
YoY Change 21.33%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $115.1M $106.8M
YoY Change 7.74% 36.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $189.9M $239.6M
YoY Change -20.75% -2.36%
Total Long-Term Liabilities $189.9M $239.6M
YoY Change -20.75% -2.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.1M $106.8M
Total Long-Term Liabilities $189.9M $239.6M
Total Liabilities $305.0M $346.5M
YoY Change -11.98% 7.17%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $553.2M $725.6M
YoY Change
Total Liabilities & Shareholders Equity $858.2M $1.072B
YoY Change -19.95% 22.54%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$62.74M -$40.64M
YoY Change 54.36% 29.42%
Depreciation, Depletion And Amortization $5.056M $2.252M
YoY Change 124.51% 44.92%
Cash From Operating Activities -$64.45M -$58.25M
YoY Change 10.66% 84.28%
INVESTING ACTIVITIES
Capital Expenditures $3.077M $15.84M
YoY Change -80.58% 434.63%
Acquisitions
YoY Change
Other Investing Activities $40.77M $109.7M
YoY Change -62.84% -24.71%
Cash From Investing Activities $37.69M $93.82M
YoY Change -59.83% -34.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.749M 14.61M
YoY Change -81.19% 194.7%
NET CHANGE
Cash From Operating Activities -64.45M -58.25M
Cash From Investing Activities 37.69M 93.82M
Cash From Financing Activities 2.749M 14.61M
Net Change In Cash -24.02M 50.19M
YoY Change -147.85% -56.78%
FREE CASH FLOW
Cash From Operating Activities -$64.45M -$58.25M
Capital Expenditures $3.077M $15.84M
Free Cash Flow -$67.53M -$74.09M
YoY Change -8.85% 114.31%

Facts In Submission

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RestructuringAndRelatedCostNumberOfPositionsEliminated
100
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15996713
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.81
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
27.67
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12861000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8484000
CY2022Q1 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
2000000.0
CY2022Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
1400000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-62736000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-40642000
CY2022Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
141697252
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
138967754
CY2022Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.44
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.29
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13790289

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