Loading...
•
Dec 31, 2022
Standard Biotool Q4 2022 Earnings Report
Standard BioTools reported mixed Q4 2022 results, with revenue growth offset by restructuring costs, but positioned for improved profitability in 2023.
Key Takeaways
Standard BioTools reported Q4 2022 GAAP revenues of $27.0 million. Core product and service revenues were $26.8 million, representing 8.3% sequential growth. The company's restructuring initiatives contributed to a 16% sequential decrease in operating expenses and improved product and services margin.
GAAP revenues for Q4 2022 reached $27.0 million.
Core product and service revenues grew sequentially by 8.3% to $26.8 million.
GAAP product and services margins increased by 620 basis points sequentially to 40.9%.
Operating expenses decreased by 16% sequentially due to restructuring initiatives.
Forward Guidance
Standard BioTools anticipates flat to moderate growth in core product and service revenues for 2023. They also expect significant GAAP gross margin expansion and a reduction in operating expenses.
Positive Outlook
- Flat to moderate growth in core product and service revenues is expected.
- GAAP product and services margins are expected to increase by 1,100–1,400 basis points by Q4 2023.
- Operating expenses are expected to decrease by approximately 20% on a GAAP and non-GAAP basis in 2023.
- Company expects positive free cash flow by the end of 2024
- Non-GAAP product and services margins are expected to increase by 1,200–1,500 basis points by Q4 2023.
Challenges Ahead
- The business outlook accounts for a previously disclosed $5 million headwind in the Genomics business.
- Revenues are expected to follow typical seasonality patterns with a sequentially lower first quarter.
- Restructuring activities may cause disruption.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...