secwatch.observer — SEC 8-K summary
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Issuer:     STANDARD BIOTOOLS INC. (LAB)
CIK:        0001162194
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0000950170-24-055791
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162194/000095017024055791/0000950170-24-055791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162194/000095017024055791/lab-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-055791

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer