Earnings Calls

Last Earnings Call

Fiscal Period
Q1 2025
Call Date
May 6, 2025
AI Summary
Q1 2025

Revenue: Q1 2025 revenue was $40.8 million, down 10% year-over-year and in line with expectations.

Guidance Maintained: Full year 2025 revenue guidance remains unchanged at $165 million to $175 million, with revenue expected to be weighted more toward the second half of the year.

Cost Reductions: Non-GAAP operating expenses decreased by 22% year-over-year, driven by $10 million in additional cost reductions this quarter, bringing total annualized savings since the SomaLogic merger to $90 million.

Gross Margin: Non-GAAP gross margin was 53.2%, down from 56.2% last year, mainly due to lower volumes and product mix.

Cash Position: Ended Q1 with $261 million in cash and equivalents and no material debt, with significantly reduced cash burn versus last year.

Instrument Sales: Instrument revenue grew 24% year-over-year in Q1, led by continued success of the Hyperion XTi platform.

Academic Headwinds: Mid-teens percentage decline expected in Americas academic revenue, with ongoing academic funding delays and spending curbs.

M&A Focus: Management confirms a disciplined M&A approach, noting a robust pipeline of potential deals but high standards for execution.

Key Financials
Revenue
$40.8 million
Consumables Revenue
$14.5 million
Instruments Revenue
$7.8 million
Services Revenue
$17.6 million
Gross Margin
53.2%
Operating Expenses
$38.6 million
Net Loss
$26 million
Adjusted EBITDA
-$16.9 million
Cash and Equivalents
$261 million
Total Cash Burn
$34 million
Adjusted Cash Burn
$31 million
Earnings Call Recording

Other Earnings Calls