EarningsAdjusted EBITDA was below the model and the 2024 adjusted EBITDA outlook was lowered, though 2024 revenue guidance was maintained.
Financial PerformanceEBITDA misses again on mix, startup costs, and R&D/collaboration investments.
RevenueBiologics Safety Testing fell approximately 5% year-over-year and 18% quarter-over-quarter, with the revenue shortfall attributed to disappointing China performance.