Standard BioTools (LAB) Announces Preliminary Fourth Quarter and Full Year 2024 Revenue

Standard BioTools Inc. (NASDAQ: LAB) (“Standard BioTools” or the “Company”) today announced preliminary and unaudited revenue results for the fourth quarter and full year 2024. Standard BioTools expects fourth quarter 2024 revenue of approximately $46.5 million and full year 2024 revenue of approximately $174 million.

“The team worked hard in a difficult environment to deliver on the top end of our revised annual guidance forecast, adjusted in the second quarter to account for the ongoing and industry-wide headwinds,” said Michael Egholm, PhD, Chief Executive Officer of Standard BioTools. “We also made significant progress reducing our operating expenses by implementing Standard BioTools Business Systems (“SBS”), but work remains and demands renewed commitment to discipline and continuous improvement.”

Mr. Egholm continued, “Guided by SBS, 2025 will see us realize even more efficiencies from integration, including benefits to R&D as we move past the technical debt inherited from both companies. Consolidations are difficult but our ability to acquire and integrate is clear. It is also clear that now is the time for Standard BioTools to leverage this foundation, organically and inorganically, to scale and shift revenues towards high-margin offerings and attractive end markets.”

“The train has now left the station, with a well-timed, well-capitalized strategy, and a world-class team to deliver long-term value to shareholders and customers alike. The best part of the journey is ahead.”

Standard BioTools plans to report its fourth quarter and full year 2024 financial results later this quarter, at which time the Company will discuss its 2024 financial results in more detail and provide its outlook for 2025.

The Company’s unaudited, preliminary 2024 revenue results 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 financial results for the fourth quarter or full year 2024 and remains subject to the completion of financial closing procedures and internal reviews.

You May Also Be Interested In

• BofA maintains underperform ratings on six BDC stocks
• Nu Skin EVP of global sales takes medical leave
• OBOOK Holdings posts $18.8M net loss as OwlPay Harbor volume rises