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Jun 30, 2024
Akoya Q2 2024 Earnings Report
Akoya Biosciences' second-quarter revenue rebounded with sequential growth, while aligning cost structure with strategic objectives.
Key Takeaways
Akoya Biosciences reported a 1.5% year-over-year decrease in revenue, totaling $23.2 million for the second quarter of 2024. The company's gross margin increased to 57.8%, and the operating loss decreased to $11.1 million. They are updating the full year 2024 revenue to be in the range of $96-104 million.
Second-quarter revenue was $23.2 million, a 26.2% increase quarter-over-quarter.
Gross margin was 57.8%, compared to 51.5% in the second quarter of 2023.
Operating expenses were $24.5 million, a 22.0% year-over-year decrease.
Loss from operations was $11.1 million, a 42.4% year-over-year decrease.
Forward Guidance
Akoya is updating its revenue outlook for the full year 2024 while maintaining its commitment to achieving operating cash flow breakeven by year end. The Company now expects the full year 2024 revenue to be in the range of $96-104 million.
Historical Earnings Impact
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