Adaptive Biotechnologies Corp Goodwill & Intangibles Disclosure
There have been no changes in the carrying amount of goodwill since its recognition in 2015. In conjunction with our organizational realignment in 2024, we allocated goodwill among our two reporting units using a relative fair value approach. Goodwill allocated to the MRD and Immune Medicine reporting units as of December 31, 2025 was $96.4 million and $22.6 million, respectively.
Intangible assets subject to amortization as of December 31, 2025 and 2024 consisted of the following (in thousands):
|
|
December 31, 2025 |
|
|||||||||
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
|||
Acquired developed technology |
|
$ |
20,000 |
|
|
$ |
(18,307 |
) |
|
$ |
1,693 |
|
Purchased intellectual property |
|
|
325 |
|
|
|
(292 |
) |
|
|
33 |
|
Balance at December 31, 2025 |
|
$ |
20,325 |
|
|
$ |
(18,599 |
) |
|
$ |
1,726 |
|
|
|
December 31, 2024 |
|
|||||||||
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
|||
Acquired developed technology |
|
$ |
20,000 |
|
|
$ |
(16,641 |
) |
|
$ |
3,359 |
|
Purchased intellectual property |
|
|
325 |
|
|
|
(259 |
) |
|
|
66 |
|
Balance at December 31, 2024 |
|
$ |
20,325 |
|
|
$ |
(16,900 |
) |
|
$ |
3,425 |
|
The developed technology was acquired in connection with our acquisition of Sequenta, Inc. in 2015. The remaining balance of the acquired developed technology and the purchased intellectual property is expected to be amortized over the next 1.0 year, approximately.
As of December 31, 2025, expected future amortization expense for intangible assets was as follows (in thousands):
2026 |
|
$ |
1,699 |
|
2027 |
|
|
27 |
|
Total future amortization expense |
|
$ |
1,726 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 26, 2020 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.