Standard BioTools Inc. (Nasdaq: LAB) (Standard BioTools or the
Company), driven by a bold purpose – Unleashing tools to
accelerate breakthroughs in human health, today announced Standard
BioTools and SomaLogic, Inc. preliminary and unaudited revenue
results for the fourth quarter and full year 2023.
Standard BioTools expects fourth quarter 2023 revenue of
approximately $28 million and full year 2023 revenue of
approximately $106 million. The Company’s preliminary full year
2023 revenue results represent growth of over 10% in core revenue1
driven by over 40% growth in instrument revenue, in each case as
compared with 2022.
SomaLogic expects fourth quarter 2023 revenue of approximately
$23 million and full year 2023 revenue of approximately $86
million.
As previously announced, Standard BioTools completed its merger
with SomaLogic on January 5, 2024. Standard BioTools expects cash,
cash equivalents and short-term investments of the combined company
to be over $550 million as of December 31, 2023, on a pro forma
condensed combined basis.
Michael Egholm, PhD, President and Chief Executive Officer of
Standard BioTools, said, “With steadfast operating discipline, we
continue to make important progress executing against our long-term
strategic transformation plan, and we are excited to move forward
as a combined company with SomaLogic. We are pleased that both
companies delivered annual revenues above our stated targets, which
we achieved in a challenging macroenvironment, and remain committed
to building a scalable, profitable suite of differentiated life
science tools and accelerating breakthroughs in health care.”
Standard BioTools expects to report its fourth quarter and full
year 2023 results in early March, at which time the Company will
discuss its 2023 financial results in more detail and provide its
outlook for 2024.
The Company’s and SomaLogic’s unaudited, preliminary 2023
revenue results and unaudited pro forma condensed combined cash,
cash equivalents and short-term investments are based on current
expectations and may be adjusted as a result of, among other
things, completion of annual audit procedures. This financial
information does not represent a comprehensive statement of the
Company’s or SomaLogic’s financial results for the fourth quarter
or full year 2023 and remains subject to the completion of
financial closing procedures and internal reviews.
About Standard BioTools Inc.
Standard BioTools Inc. (Nasdaq:LAB), previously known as
Fluidigm Corporation, is driven by a bold purpose – Unleashing
tools to accelerate breakthroughs in human health. Standard
BioTools has an established portfolio of essential, standardized
next-generation technologies that help biomedical researchers
develop medicines faster and better. As a leading solutions
provider, the Company provides reliable and repeatable insights in
health and disease using its proprietary mass cytometry and
microfluidics technologies, which help transform scientific
discoveries into better patient outcomes. Standard BioTools works
with leading academic, government, pharmaceutical, biotechnology,
plant and animal research, and clinical laboratories worldwide,
focusing on the most pressing needs in translational and clinical
research, including oncology, immunology, and immunotherapy. Learn
more at www.standardbio.com or connect with us on Twitter®,
Facebook®, LinkedIn, and YouTube™. Standard BioTools, the Standard
BioTools logo, Fluidigm, the Fluidigm logo, “Unleashing tools to
accelerate breakthroughs in human health,” Hyperion, Hyperion XTi,
XTi, and X9 are trademarks and/or registered trademarks of Standard
BioTools Inc. or its affiliates in the United States and/or other
countries. All other trademarks are the sole property of their
respective owners. Standard BioTools products are provided for
Research Use Only. Not for use in diagnostic procedures.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, among others, statements regarding future
financial and business performance; expectations, operational and
strategic plans; the merger of the Company and SomaLogic;
deployment of capital; market and growth opportunity and potential,
and the potential to realize the expected benefits following the
merger of the Company and SomaLogic. Forward-looking statements are
subject to numerous risks and uncertainties that could cause actual
results to differ materially from currently anticipated results,
including, but not limited to, the outcome of any legal proceedings
related to the merger; risks that the anticipated benefits of the
merger or other commercial opportunities may otherwise not be fully
realized or may take longer to realize than expected; risks that we
may not realize expected cost savings from our restructuring,
including the anticipated decrease in operational expenses, at the
levels we expect; possible restructuring and transition-related
disruption, including through the loss of customers, suppliers, and
employees and adverse impacts on our development activities and
results of operation; restructuring activities, including our
subleasing plans, customer and employee relations, management
distraction, and reduced operating performance; risks that internal
and external costs required for ongoing and planned activities may
be higher than expected, which may cause us to use cash more
quickly than we expect or change or curtail some of our plans, or
both; risks that our expectations as to expenses, cash usage, and
cash needs may prove not to be correct for other reasons such as
changes in plans or actual events being different than our
assumptions; changes in Standard BioTools’ business or external
market conditions; challenges inherent in developing,
manufacturing, launching, marketing, and selling new products;
interruptions or delays in the supply of components or materials
for, or manufacturing of, Standard BioTools products;
reliance on sales of capital equipment for a significant proportion
of revenues in each quarter; seasonal variations in customer
operations; unanticipated increases in costs or expenses;
uncertainties in contractual relationships; reductions in research
and development spending or changes in budget priorities by
customers; uncertainties relating to Standard BioTools’ research
and development activities, and distribution plans and
capabilities; potential product performance and quality issues;
risks associated with international operations; intellectual
property risks; and competition. For information regarding other
related risks, see the “Risk Factors” section of Standard BioTools’
most recent quarterly report on Form 10-Q filed with the U.S.
Securities and Exchange Commission (the “SEC”) on November 7, 2023,
on its most recent annual report on Form 10-K filed with the SEC on
March 14, 2023 and in Standard BioTools’ other filings with the
SEC, as well as the “Risk Factors” section of SomaLogic’s most
recent quarterly report on Form 10-Q filed with the SEC on November
8, 2023, on its most recent annual report on Form 10-K filed with
the SEC on March 28, 2023 and in SomaLogic’s other filings with the
SEC. These forward-looking statements speak only as of the date
hereof. Standard BioTools disclaims any obligation to
update these forward-looking statements except as may be required
by law.
Contacts
Investors
Peter DeNardoCapComm Partnersir@standardbio.com
Media
Nick Lamplough / Dan Moore / Tali EpsteinCollected
StrategiesLAB-CS@collectedstrategies.com
1 Core revenue growth excludes 2022 revenue from discontinued
products in the Genomics business. Including the impact of this
revenue, Standard BioTools expects total revenue growth of
approximately 8% in 2023 as compared to 2022.
Standard BioTools (NASDAQ:LAB)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Standard BioTools (NASDAQ:LAB)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024