Akoya Biosciences (AKYA) AI Stock Analysis

• Market Cap: $66.33M
• Dividend Yield: N/A
• Average Volume (3M): 788.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.20
• Revenue Growth: -14.55%
• EPS Growth: 34.87%
• Country: US
• Employees: 205
• Sector: Healthcare
• Sector Strength: 44
• Industry: Medical - Instruments & Supplies
• EPS (TTM): -0.32
• Shares Outstanding: 49,875,400
• 10 Day Avg. Volume: 214,904
• 30 Day Avg. Volume: 788,521
• PEG Ratio: -0.08
• Price to Book (P/B): 6.17
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.94
• Enterprise Value/Market Cap: 5.47
• Enterprise Value/Revenue: 1.06
• Enterprise Value/Gross Profit: 7.35
• Enterprise Value/Ebitda: -2.41
• 1Y Price Target: $1.42
• Price Target Upside: 6.77% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5

• Rating: 47 Neutral
• Price Target: $1.50 ▲(12.78%Upside)

The overall stock score is primarily influenced by the company's financial instability and valuation concerns. While the technical analysis provides a slightly more positive outlook, the amended merger agreement with Quanterix offers a notable opportunity for strategic value creation.

Positive Factors

Market Position

Akoya Biosciences is an established leader in the rapidly advancing spatial biology market.

Merger Synergies

The merger is expected to yield approximately $40 million in annual cost synergies by the end of 2026.

Negative Factors

Funding Uncertainty

NIH funding uncertainty will likely negatively impact Akoya's U.S. academic research business.

Market Skepticism

The deal is facing shareholder opposition, valuation concerns, and general market skepticism.

Revenue Performance

Revenue decreased about 10% y/y to $16.6 million in 1Q25, missing both estimates and consensus.

Akoya Biosciences Business Overview & Revenue Model

Company Description

Akoya Biosciences, Inc., a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow. It also provides PhenoCycler and PhenoImager reagents; and biopharma services. In addition, the company offers Proxima, a cloud-based platform to store, analyze, and share spatial data; inForm Tissue, an automated image analysis software package for accurately visualizing and quantifying biomarkers in tissue sections; Phenoptr, which provides functions that consolidate and analyze output tables created by inForm software; and phenoptrReports, a software that generates shareable reports and visualizations based on the phenoptr output in an intuitive front-end GUI. The company was incorporated in 2015 and is headquartered in Marlborough, Massachusetts.

How the Company Makes Money

Akoya Biosciences generates revenue primarily through the sale of its imaging platforms, reagents, and related services. The company's revenue streams include the direct sale of its Phenoptics and CODEX platforms to research institutions, pharmaceutical companies, and academic entities. In addition, Akoya earns money from the sale of consumables and reagents required for the operation of its platforms, as well as from service contracts and support agreements. Key partnerships with leading research organizations and collaborations with pharmaceutical companies also contribute to its revenue by expanding its market reach and facilitating the adoption of its technologies in drug development and precision medicine research.

Akoya Biosciences Financial Statement Overview

Summary

Akoya Biosciences is facing significant financial challenges with decreasing revenue and persistent losses. High debt levels and negative equity reflect financial instability. Effective cost management is crucial to improve profitability and ensure sustainable cash flow.

Income Statement

Gross profit margin remains positive, indicating some efficiency in cost management despite decreasing total revenue. However, net profit margin is negative due to substantial net losses, and revenue growth is declining. The EBIT and EBITDA margins are negative, highlighting operational challenges.

Balance Sheet

The debt-to-equity ratio is very high due to negative equity, which suggests financial instability. The return on equity is negative, reflecting ongoing losses. Equity ratio also indicates a heavily leveraged position with negative equity.

Cash Flow

The company shows negative free cash flow and operating cash flow, indicating cash outflows from operations. Free cash flow growth rate is negative, but the operating cash flow to net income ratio is stable, suggesting some consistency in cash management.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
79.96M	81.67M	96.63M	74.86M	54.92M	42.44M
	Gross Profit
49.37M	47.88M	56.30M	43.39M	34.22M	25.91M
	EBIT
-38.56M	-46.73M	-57.67M	-66.21M	-37.23M	-11.49M
	EBITDA
-31.79M	-37.14M	-45.63M	-58.81M	-35.17M	-10.13M
	Net Income Common Stockholders
-47.53M	-55.37M	-63.32M	-70.64M	-42.94M	-16.71M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
27.54M	35.04M	83.13M	81.22M	113.08M	17.01M
	Total Assets
112.65M	125.00M	180.37M	176.03M	190.91M	77.66M
	Total Debt
83.72M	84.15M	85.71M	75.78M	32.47M	34.99M
	Net Debt
63.37M	72.37M	2.58M	1.55M	-80.61M	17.99M
	Total Liabilities
118.54M	117.41M	126.60M	117.45M	69.56M	59.09M
	Stockholders Equity
-5.89M	7.59M	53.77M	58.58M	121.35M	18.57M
Cash Flow		Free Cash Flow
-32.34M	-46.56M	-54.55M	-60.86M	-41.16M	-10.14M
	Operating Cash Flow
-30.49M	-44.10M	-50.90M	-53.50M	-36.07M	-6.84M
	Investing Cash Flow
40.81M	-24.05M	3.35M	-14.08M	-5.09M	6.73M
	Financing Cash Flow
-3.01M	-3.21M	56.84M	28.73M	137.03M	5.49M

Akoya Biosciences Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.33
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AKYA, the sentiment is Positive. The current price of 1.33 is above the 20-day moving average (MA) of 1.18, above the 50-day MA of 1.19, and below the 200-day MA of 2.15, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 58.40 is Neutral, neither overbought nor oversold. The STOCH value of 66.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AKYA.

Akoya Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	54 Neutral	$5.38B	3.40	-45.06%	3.28%	16.75%	-0.02%
TCRX	53 Neutral	$95.64M	―	-78.93%	―	-70.15%	―
AKYA	47 Neutral	$66.33M	―	-354.27%	―	-14.55%	34.87%
IVVD	44 Neutral	$108.63M	―	-122.69%	―	―	20.91%
ABOS	36 Underperform	$71.48M	―	-55.68%	―	―	-57.45%
ACRV	36 Underperform	$40.13M	―	-62.41%	―	―	10.84%
ANL		$57.93M	―		―	―	―

Akoya Biosciences Corporate Events

Akoya Biosciences and Quanterix Amend Merger Agreement

On April 28, 2025, Akoya Biosciences and Quanterix Corporation amended their merger agreement, initially announced on January 9, 2025. Under the revised terms, Quanterix will issue approximately 7.76 million shares and pay $20 million in cash to Akoya shareholders, with each Akoya share receiving $0.38 in cash and 0.1461 shares of Quanterix stock. This adjustment reduces the number of shares issued by Quanterix compared to the original agreement. The merger, expected to close in the second quarter of 2025, aims to create significant value for shareholders and leverage synergies across both organizations.