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Sep 30, 2023
Standard Biotool Q3 2023 Earnings Report
Reported financial results inline with expectations, amid macroeconomic challenges and legacy headwinds.
Key Takeaways
Standard BioTools reported its Q3 2023 financial results, showing revenue of $25.4 million. The company is maintaining a disciplined approach to commercial and R&D investment. They have raised their 2023 financial outlook, and believe they are well on track to execute their long-term transformation plan.
Instrument sales grew 14% in the third quarter.
Total revenue declined 1% in the third quarter.
Non-GAAP gross margin expanded by 830 basis points in the third quarter.
Non-GAAP operating expenses declined over $5 million, or 17%, in the third quarter.
Standard Biotool
Standard Biotool
Forward Guidance
The Company expects total revenue of $100 million to $105 million for the full year 2023. The Company also expects GAAP gross margin of approximately 47% and non-GAAP gross margin of approximately 60% for the full year 2023.