Strategic Product Launches and Expansions
Standard BioTools announced a new SomaScan offering and expanded its reach with the NGS-based Illumina partner solution, enhancing translational and clinical research capabilities.
Strength in Instrument Sales
Instruments saw a double-digit year-over-year growth, driven by demand for Hyperion XTi spatial imaging systems.
Cost Management and Operational Improvements
Non-GAAP operating expenses decreased by 22% year-over-year, operating loss improved by 45%, and adjusted EBITDA improved by 29%.
Healthy Cash Position
Standard BioTools ended the quarter with $261 million in cash and no material debt, emphasizing a strong balance sheet.
Positive Traction with Pharma and International Markets
Biopharma engagement and international markets remained resilient, contributing positively to overall performance.