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Jun 30, 2021
Standard Biotool Q2 2021 Earnings Report
Reported a 19% increase in total revenue compared to Q2 2020, driven by a rebound in the base business and early customer orders for the new CyTOF® XT mass cytometry product.
Key Takeaways
Fluidigm Corporation announced financial results for the second quarter ended June 30, 2021, with total revenue of $31.0 million, a 19% increase from Q2 2020. The company's base product and service revenue (excluding COVID-19 testing revenue) increased by 33% year-over-year. However, the GAAP net loss was $17.1 million, compared to a net loss of $13.0 million for the second quarter of 2020.
Total revenue was $31.0 million, a 19% increase year-over-year.
Base product and service revenue (excluding COVID-19 testing revenue) increased 33% year-over-year.
Service revenue reached a new quarterly record of $6.6 million, a 29% increase year-over-year.
GAAP net loss was $17.1 million, compared to a net loss of $13.0 million in Q2 2020.
Standard Biotool
Standard Biotool
Forward Guidance
Fluidigm is maintaining its previously stated full-year total revenue guidance with some adjustments, while reviewing risk factors like COVID-19 infections, declines in COVID-19 testing revenue, and potential resolution of certain tax permit issues in China.
Challenges Ahead
- Increase in variant and primary COVID-19 infections and the impact on access to labs and research institutions
- Ongoing declines in COVID-19 testing revenue
- Potential resolution of certain tax permit issues in China that have previously impacted revenue.