Akoya Biosciences Announces Preliminary Financial Results for the Fourth Quarter and Full Year 2023 and Provides 2024 Outlook
07 Janeiro 2024 - 10:00AM
Akoya Biosciences, Inc. (Nasdaq: AKYA) (“Akoya”), The Spatial
Biology Company®, today announced preliminary unaudited revenue for
the fourth quarter and full year ended December 31, 2023, and
projected year end 2023 cash, cash equivalents, and restricted cash
balance, which remain subject to quarter end closing adjustments
and are also unaudited.
- Revenue for the fourth quarter of
2023 is expected to be between $25.5 million and $26.5 million, as
compared to $21.2 million for the corresponding quarter of
2022.
- For the fiscal year of 2023, revenue
is expected to be between $95.6 million and $96.6 million, as
compared to $74.9 million for the fiscal year of 2022.
- Year end 2023 projected cash, cash
equivalents, and restricted cash balance is expected to be between
$83.0 million and $85.0 million.
“The fourth quarter of 2023 is expected to be another record
revenue quarter for Akoya, demonstrating our continued business
momentum and commercial execution in the rapidly growing spatial
biology market,” said Brian McKelligon, Chief Executive Officer,
Akoya Biosciences. “Throughout 2023, we delivered strong financial
performance on the topline while maintaining operating expenses at
a steady level, bolstering our confidence in achieving cash flow
positivity earlier than previously projected.”
2024 Financial Outlook
The Company, based on its current plans and initiatives, expects
full year 2024 revenue to grow 20%+ and projects achieving
operating cash flow breakeven by year end 2024.
The financial results in this press release reflect expectations
based on currently available information. The company has yet to
complete its quarter end closing and the information has not been
audited and actual results are therefore subject to change.
Use of forward-looking statements
This press release contains forward-looking statements that are
based on management’s beliefs and assumptions and on information
currently available to management. All statements contained in this
release other than statements of historical fact are
forward-looking statements, including statements regarding our
preliminary results for the fourth quarter and full year 2023
revenue, our projected year end 2023 cash, cash equivalents and
restricted cash balance, our ability to achieve operating cash flow
breakeven and cash flow positivity, our projections regarding
timing for achieving operating cash flow breakeven and cash flow
positivity, statements regarding our expectations for full year
revenue growth for 2024 and other statements regarding our future
financial and operational performance.
In some cases, you can identify forward-looking statements by
the words “may,” “will,” “could,” “would,” “should,” “expect,”
“intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “ongoing” or the negative of
these terms or other comparable terminology, although not all
forward-looking statements contain these words. These statements
involve risks, uncertainties and other factors that may cause
actual results, levels of activity, performance, or achievements to
be materially different from the information expressed or implied
by these forward-looking statements. These risks, uncertainties and
other factors are described under the captions "Risk Factors," and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" and elsewhere in the documents we file with
the Securities and Exchange Commission from time to time. We
caution you that forward-looking statements are based on a
combination of facts and factors currently known by us and our
projections of the future, about which we cannot be certain. As a
result, the forward-looking statements may not prove to be
accurate. The forward-looking statements in this press release
represent our views as of the date hereof. We undertake no
obligation to update any forward-looking statements for any reason,
except as required by law.
About Akoya Biosciences
As The Spatial Biology Company®, Akoya Biosciences’ mission is
to bring context to the world of biology and human health through
the power of spatial phenotyping. The company offers comprehensive
single-cell imaging solutions that allow researchers to phenotype
cells with spatial context and visualize how they organize and
interact to influence disease progression and response to therapy.
Akoya offers a full continuum of spatial phenotyping solutions to
serve the diverse needs of researchers across discovery,
translational and clinical research: PhenoCode™ Panels and
PhenoCycler®, PhenoImager® Fusion and PhenoImager HT Instruments.
To learn more about Akoya, visit www.akoyabio.com.
Akoya Biosciences Investor Contact
Priyam ShahSr. Director, Investor
Relationsinvestors@akoyabio.com
Akoya Biosciences Media Contact:
Christine Quernmedia@akoyabio.com
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