Adaptive Biotechnologies Corp. Q2 FY2026 Earnings Call
With Chad Robins (CEO and Co-founder) and Kyle Piskel (CFO).
Adaptive Biotechnologies is a pioneer and leader in immune-driven medicine that aims to improve people’s lives by learning from the wisdom of their adaptive immune systems.
More about Adaptive Biotechnologies Corp.
Adaptive’s proprietary immune profiling platform reveals and translates insights from our adaptive immune systems with unprecedented scale and precision. Working with drug developers, clinicians and academic researchers, we are applying these insights to develop products that will transform the way diseases -- such as cancer, autoimmune conditions, and infectious diseases -- are diagnosed and treated. For more information, please visit adaptivebiotech.com.
1Prepared remarks3 speakers
Thank you, Sonia, and good afternoon, everyone. I would like to welcome you to Adaptive Biotechnologies' second quarter 2026 earnings conference call. Earlier today, we issued a press release reporting Adaptive's financial results for the second quarter. The press release is available at www.adaptivebiotech.com. We are conducting a live webcast of this call and will be referencing to the slide presentation that has been posted in the Investor section in our corporate website.
During the call, management will make…
Thanks, Karina. Good afternoon, and thank you for joining us on our second quarter earnings call. Q2 was an exceptional quarter for Adaptive and a clear validation of our strategy and execution. We delivered excellent operating performance, took decisive strategic actions to unlock shareholder value, and strengthened our balance sheet. Together, these accomplishments reinforce our confidence in the long-term opportunity ahead. Three achievements define the quarter. First, our MRD business delivered one of the…
Thanks, Chad. I'll start on slide 10 with our second quarter results. Total revenue was $71.6 million, an increase of 30% from the prior year, driven by continued strength in MRD, which represented 92% of total company revenue. As a reminder, amortization of the Genentech payments are excluded from all prior period comparisons. MRD revenue was $66.2 million, up 33% year-over-year. Importantly, excluding $5.5 million of milestones recognized in the second quarter of last year, the core MRD revenue grew 49%, driven…
Thanks, Kyle. This quarter demonstrates that our strategy is delivering results. We're growing revenue and expanding profitability of the MRD business, taking decisive steps to unlock the value of Immune Medicine and strengthening our financial position to support the opportunities ahead. We're confident in the direction of the…