Shares of Adaptive Biotechnologies Corp (ADPT) jumped 5.03% in Thursday's pre-market trading session after the company reported better-than-expected full year 2024 earnings results. The biotech firm's earnings per share surpassed analyst estimates by 3.2%, despite posting a net loss for the year.
ADPT's full year 2024 revenue grew 5.1% year-over-year to $179 million, in line with estimates. While the company remained unprofitable with a net loss of $159.5 million, the loss narrowed by 29% compared to the previous year, indicating improving financial performance.
Looking ahead, analysts forecast ADPT's revenue to grow at an impressive 18% annualized rate over the next three years, outpacing the 6% growth projected for the broader life sciences industry. However, the company still faces some risks, with two warning signs identified by analysts.