Akoya Q1 2023 Earnings Report
Key Takeaways
Akoya Biosciences reported a strong start to 2023 with record quarterly revenue of $21.4 million, representing a 27% year-over-year growth. The company also achieved a milestone of 1000 spatial instrument placements in April. Akoya is reiterating its full-year 2023 revenue guidance range of $95-98 million.
Total revenue reached $21.4 million, a 26.6% increase compared to the prior year period.
Product revenue increased by 16.5% to $15.5 million, with instrument revenue up 12.9% and reagent revenue up 23.9%.
Service and other revenue increased significantly by 63.9% to $5.9 million.
The company sold 58 instruments and had an installed base of 992 instruments as of March 31, 2023.
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Akoya Revenue by Segment
Forward Guidance
Akoya continues to expect a full year 2023 revenue guidance range of $95-98 million.