Standard BioTools Q1 core revenue up 1.8% YoY; operating cash burn cut 55.8% sequentially

STANDARD BIOTOOLS INC.

2023-Q1 EPS reported -$0.21 revenue$25,119,000

GAAP revenue $25.1M (-5.2% YoY); core product/service revenue $24.3M (+1.8% YoY).
GAAP product margin 46.6% (+567 bps QoQ); non-GAAP margin 60.9% (+792 bps QoQ).
Operating cash burn $8.5M, down from $19.2M in Q4 2022 and $15.6M in Q1 2022.
Launched Hyperion XTi Imaging System; subleased 50% of SSF space; repurchased 1.3M shares for $2.5M.
FY2023 guidance: flat-to-moderate core revenue growth; GAAP opex $118-123M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STANDARD BIOTOOLS INC. reported first quarter ended March 31, 2023 results: revenue $25.1 million.

Period: first quarter ended March 31, 2023
Revenue: $25.1 million
Result: reported results

Exact text from the filing

in the fourth quarter and a 46% reduction from the $15.6 in the first quarter last year GAAP revenue (includes discontinued/COVID-19 products) decreased 5.2% year-over-year to $25.1 million, with a 1.8% year-over-year increase in ongoing, core product and service revenue to $24.3 million GAAP product and services margin of 46.6%, an improvement of 567 basis points

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Source: SEC EDGAR

accession 0000950142-23-001396

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