Standard BioTools Q1: pro forma revenue $46.2M (+2% YoY), gross margin 49.2%, cash $464M, reaffirms FY outlook

STANDARD BIOTOOLS INC.

2024-Q3 EPS reported -$0.27 revenue$45,540,000

As-reported revenue $45.5M (+81% YoY from SomaLogic merger); pro forma combined revenue $46.2M (+2% YoY).
Pro forma gross margin 49.2% (up 276 bps), non-GAAP gross margin 56.3% (up 300 bps). Operating expenses fell $21M to $75.8M.
Cash, equivalents, restricted cash & short-term investments $463.6M. Repurchased 4.1M shares for $11M; converted all Series B preferred to common.
Reaffirmed FY2024 revenue guidance $200-205M; targeting cash flow positive in FY2026. $50M of $80M cost synergies expected by year-end 2024.
SomaScan services, authorized sites, Illumina early access contributed over $24M (+21% YoY); instrument revenue declined 12% on capex headwinds.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STANDARD BIOTOOLS INC. reported the three months ended March 31, 2024 results: revenue $45.5 million, net income $(32.2) million. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $45.5 million
Net income: $(32.2) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 8, 2024, Standard BioTools Inc. issued a press release which included information with respect to certain financial results for the three months ended March 31, 2024.

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Source: SEC EDGAR

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