Standard BioTools Q2 revenue $37.2M, net loss $45.7M; FY2024 guidance cut to $170-175M

STANDARD BIOTOOLS INC.

2024-Q2 EPS reported -$0.37 revenue$82,745,000

Q2 revenue $37.2M (pro forma combined -23% YoY); net loss $45.7M; adjusted EBITDA loss $31.0M.
FY2024 revenue guidance reduced to $170-$175M from prior expectation; cites weaker SomaScan services and capital spending slowdown.
Accelerated merger synergy target: $80M cost reductions expected operationalized by end of 2024, a year ahead of plan.
Repurchased ~11.3M shares in Q2 for ~$29M at avg $2.57/share; cash position $396M.
Revenue decline primarily from timing of large customer projects in Europe and constrained capital purchase environment.

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