Adaptive Biotechnologies vs Vir Biotechnology
Adaptive Biotechnologies is the larger business, with $277m of revenue in fiscal 2025 against $68.6m for Vir Biotechnology (4.0 times as much). Adaptive Biotechnologies grew faster (54.8% against -7.6%). Adaptive Biotechnologies kept more of each dollar of sales as profit: a net margin of -21.5% against -638.9%. Vir Biotechnology carries less debt relative to equity (0.0% against 60.0%).
| Latest fiscal year | Adaptive BiotechnologiesADPT, 2025 | Vir BiotechnologyVIR, 2025 |
|---|---|---|
| Revenue | $277m | $68.6m |
| Revenue growth | 54.8% | -7.6% |
| Net income | −$59.5m | −$438m |
| Operating margin | -20.6% | -699.2% |
| Net margin | -21.5% | -638.9% |
| Return on equity | -28.2% | -45.7% |
| Free cash flow | −$48.9m | −$397m |
| Cash | $70.5m | $232m |
| Total debt | $131m | $0 |
| Debt to equity | 60.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 624 | 367 |
| Market value | $4.10bn | $1.91bn |
| Price vs our value range | — | — |
| Moat score | 24 (Weak) | 27 (Weak) |
| Insider trades, 12 months | 0 buys, 168 sales | 0 buys, 35 sales |