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Mar 31, 2021
Standard Biotool Q1 2021 Earnings Report
Reported a 19 percent increase in total revenue compared to the prior year period.
Key Takeaways
Fluidigm Corporation announced financial results for the first quarter ended March 31, 2021, with total revenue of $32.8 million, a 19 percent increase over the prior year period. The company's GAAP net loss was $18.8 million, and non-GAAP net loss was $11.1 million. They are revising 2021 revenue and net loss guidance due to the decline in COVID-19 testing revenue.
Total revenue was $32.8 million, up 19% year-over-year.
Product and service revenue increased 28% to $31.0 million, including $6.5 million of COVID-19 revenue.
GAAP net loss was $18.8 million, compared to $16.0 million in the first quarter of 2020.
Cash and cash equivalents totaled $50.8 million as of March 31, 2021.
Standard Biotool
Standard Biotool
Forward Guidance
Fluidigm is revising its revenue and net loss guidance to reflect lower revenue from COVID-19 testing partially offset by higher anticipated revenue from the company's base business (excluding COVID-19).