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Jun 30, 2021
Akoya Q2 2021 Earnings Report
Akoya reported a strong second quarter with a 53% increase in revenue and significant growth in reagent sales, driven by the continued adoption of CODEX and Phenoptics solutions.
Key Takeaways
Akoya Biosciences reported a strong second quarter, with total revenue reaching $13.1 million, a 53% increase compared to the same period last year. The company saw substantial growth in reagent sales and continued adoption of its CODEX and Phenoptics solutions.
Total revenue for the second quarter of 2021 was $13.1 million, representing 53% growth compared to $8.6 million in the second quarter of 2020.
Reagent sales were strong, with $4.3 million in revenue compared to $1.5 million in the second quarter of 2020.
Gross profit was $8.1 million in the second quarter of 2021, compared to $5.3 million in the second quarter of 2020, with a gross profit margin of 62.2%.
The company launched Advanced Biopharma Solutions (ABS) and partnered with AstraZeneca to deliver spatial biomarker-guided drug development and clinical trials services.
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CapyFin.com Forward Guidance
Akoya is refining its revenue guidance for the full year 2021 to a range of $52.5 million to $53.0 million. The company anticipates revenue growth of approximately 28-30% for the third quarter of 2021 compared to the prior year quarter.
Positive Outlook
- Refined revenue guidance for full year 2021 from at least $52.0 million to a range of $52.5 to $53.0 million.
- Expected revenue growth of approximately 28-30% for the third quarter of 2021 over the prior year quarter.