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Mar 31, 2020
Standard Biotool Q1 2020 Earnings Report
Revenue decreased by 8 percent, and the company focused on COVID-19 related opportunities.
Key Takeaways
Fluidigm Corporation reported a decrease in revenue for the first quarter of 2020, but is focusing on new opportunities related to COVID-19, including testing infrastructure and immune response measurement.
First quarter revenue decreased 8% to $27.6 million.
The company is focused on protecting employees, repositioning products for COVID-19 applications, and managing liquidity.
Fluidigm's Biomark system is being used for high-throughput COVID-19 testing.
The mass cytometry platform is measuring immune response in COVID-19 treatments and characterization.
Standard Biotool
Standard Biotool
Forward Guidance
The company anticipates infectious disease applications will complement their long-term commitment to biomarker discovery, disease research, and treatment paradigms linked to understanding immune function and response in a wide range of diseases.
Positive Outlook
- Labs can process up to 6,000 samples per day using the Biomark system.
- The company is well-positioned to support testing of investigational new vaccines and therapeutics.
- The core business model remains intact.
- There are incremental opportunities for new growth in the infectious disease market.
- Infectious disease applications will complement the long-term commitment to biomarker discovery.
Challenges Ahead
- The pandemic has created near-term headwinds.
- Lower average selling prices.
- Unfavorable product mix.
- Fixed amortization over lower revenue.
- Evolving market conditions.