Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 77,581	$ 70,495
Short-term marketable securities (amortized cost of $140,762 and $156,246, respectively)	140,753	156,485
Accounts receivable, net	48,315	50,365
Inventory	11,206	9,820
Prepaid expenses and other current assets	13,952	13,020
Total current assets	291,807	300,185
Long-term assets
Property and equipment, net	30,774	34,107
Operating lease right-of-use assets	40,248	40,616
Long-term marketable securities (amortized cost of $18,908 and $13,220, respectively)	18,889	13,234
Restricted cash	2,709	2,689
Intangible assets, net	1,307	1,726
Goodwill	118,972	118,972
Other assets	1,237	1,207
Total assets	505,943	512,736
Current liabilities
Accounts payable	9,615	6,467
Accrued liabilities	7,465	7,700
Accrued compensation and benefits	6,217	16,992
Current portion of operating lease liabilities	8,513	8,920
Current portion of deferred revenue	49,397	45,194
Current portion of revenue interest liability, net	5,804	4,642
Total current liabilities	87,011	89,915
Long-term liabilities
Operating lease liabilities, less current portion	69,115	70,228
Deferred revenue, less current portion	807	1,006
Revenue interest liability, net, less current portion	124,749	126,566
Other long-term liabilities	20	20
Total liabilities	281,702	287,735
Commitments and contingencies (Note 9)
Shareholders’ equity
Preferred stock: $0.0001 par value, 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock: $0.0001 par value, 340,000,000 shares authorized at March 31, 2026 and December 31, 2025; 159,697,221 and 153,779,418 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	16	15
Additional paid-in capital	1,599,708	1,581,848
Accumulated other comprehensive (loss) gain	(28)	253
Accumulated deficit	(1,383,356)	(1,363,323)
Total Adaptive Biotechnologies Corporation shareholders’ equity	216,340	218,793
Noncontrolling interest	7,901	6,208
Total shareholders’ equity	224,241	225,001
Total liabilities and shareholders’ equity	$ 505,943	$ 512,736

Adaptive Biotechnologies Corp 10-Q