Shares of Adaptive Biotechnologies Corp surged 16.11% in after-hours trading on Tuesday following the release of the company's first-quarter 2026 financial results.

The significant price increase was driven by the company reporting better-than-expected quarterly performance. Adaptive Biotechnologies posted Q1 revenue of $70.874 million, which exceeded analyst estimates of $60.9 million by approximately 16.5% and represented a 35% increase year-over-year. The company also reported a quarterly loss per share of $0.13, beating the consensus estimate of a $0.17 loss by 23.5%.

Further bolstering investor sentiment, the company's net loss narrowed to $20 million compared to the same period last year, while adjusted EBITDA of -$2.5 million also came in significantly better than the -$6.55 million estimate. The strong results demonstrate improved operational performance and financial health for the biotechnology firm.