Adaptive lost $42.7 million for the year ended January 31, compared to the $44.7 million in red ink for the prior year. It reported revenue of  $106.5 million in the year just ended, an increase of 30.2 percent from $81.8 million for fiscal 2017.

A majority of revenue was $93.9 million in revenue from subscriptions in fiscal 2018, a 34.7-percent increase from slightly less than $70 million the prior year. The prospectus says there were more than 3,800 customers in more than 50 customers on April 30.

Adaptive is led by CEO Thomas F. Bogan, whose 10,050,000 shares are 6.6 percent of stock outstanding.

The lead underwriters are Morgan Stanley,  BoFA Merrill Lynch,  Jefferies and RBC Capital Markets. JMP Securities and Oppenheimer & Co. are also participating.