Standard BioTools Q3 revenue $25.4M, net loss $21M; raises outlook, merger with SomaLogic

STANDARD BIOTOOLS INC.

2023-Q3 EPS reported -$0.69 revenue$78,152,000

Q3 revenue $25.4M (down 1% YoY); GAAP net loss $21.0M; Non-GAAP adj. EBITDA -$10.1M.
Instrument sales grew 14% in Q3, 47% YTD; Non-GAAP gross margin expanded 830bps to 57.0%.
Operating cash use decreased 53% in Q3 to $12M; cash and investments $129.6M at quarter end.
Raised 2023 financial outlook; planned merger with SomaLogic cited to enhance revenue and accelerate path to profitability.

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