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Jun 30, 2025
Standard Biotool Q2 2025 Earnings Report
Standard BioTools reported Q2 2025 revenue of $21.8M and a net loss from continuing operations of $17.7M, with GAAP gross margin at 48.8%.
Key Takeaways
For Q2 2025, continuing operations delivered $21.762M in revenue, a GAAP operating loss of $25.697M, and a net loss of $17.673M; GAAP gross margin improved to 48.8% and non‑GAAP gross margin reached 54.1%.
Revenue from continuing operations was $21.762M, down 3% YoY; consumables grew while instruments declined.
GAAP gross margin improved to 48.8% (non‑GAAP 54.1%).
Operating expenses were $36.325M (non‑GAAP $27.906M), reflecting merger synergies and SBS productivity gains.
Adjusted EBITDA loss narrowed to $16.135M from $17.379M a year ago.
Revenue by Segment
Forward Guidance
For FY2025, the company expects combined revenue of $165M–$175M and continuing‑operations revenue of $78M–$83M; it is targeting adjusted EBITDA break‑even in 2026 and expects at least $550M in cash at the close of the SomaLogic sale to Illumina (expected 1H 2026).
Positive Outlook
- FY2025 combined revenue outlook: $165M–$175M.
- FY2025 continuing‑operations revenue outlook: $78M–$83M.
- Targeting adjusted EBITDA break‑even in 2026.
- Announced sale of SomaLogic to Illumina for up to $425M in cash plus future royalties (close expected 1H 2026).
- At least $550M in cash & cash equivalents expected at close, enhancing balance sheet strength.
Challenges Ahead
- Outlook assumes a high single‑digit millions decline in Americas academic revenue due to anticipated NIH funding pressures.
- Instrument demand impacted by capital‑constrained end‑markets globally.
- U.S. academic spend remained under pressure during the quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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