Loading...
•
Mar 31, 2022
Standard Biotool Q1 2022 Earnings Report
Standard BioTools reported disappointing financial results for Q1 2022, impacted by US sales force disruptions and COVID-19 related issues, but completed a $250 million capital infusion.
Key Takeaways
Standard BioTools announced first quarter 2022 financial results with a total revenue of $26.5 million, compared to $32.8 million in Q1 2021. The company reported a GAAP net loss of $76.3 million and a non-GAAP net loss of $19.5 million. They completed a $250 million capital infusion.
Total revenue was $26.5 million, down from $32.8 million year-over-year.
Base product and service revenue (excluding COVID-19 testing revenue) was $23.9 million, a decrease of 2% year-over-year.
GAAP net loss was $76.3 million, compared to a net loss of $18.8 million in the first quarter of 2021.
Non-GAAP net loss was $19.5 million, compared to a non-GAAP net loss of $11.1 million for the first quarter of 2021.