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Dec 31, 2023
Standard Biotool Q4 2023 Earnings Report
Standard BioTools reported Q4 2023 financial results, achieving core financial objectives and completing merger with SomaLogic.
Key Takeaways
Standard BioTools reported a 4% increase in revenue for the fourth quarter of 2023. The company also achieved substantial reductions in expenses and cash burn while expanding gross margins. The merger with SomaLogic was completed, with combined pro forma revenue for FY2023 totaling $192 million.
Achieved FY2023 core financial objectives, delivering substantial ongoing reductions in expenses and cash burn while expanding revenue and gross margins.
Completed merger with SomaLogic, activating strategy to build scaled leader in life sciences tools and services.
Combined pro forma revenue for FY2023 totaled $192 million and fortified balance sheet with $565 million in combined pro forma cash, cash equivalents, restricted cash and short-term investments at December 31, 2023.
Instrument sales grew 44% in the fourth quarter.
Standard Biotool
Standard Biotool
Standard Biotool Revenue by Segment
Revenue by Segment
Instruments Revenue
CapyFin.comConsumables Revenue
CapyFin.comField services & other Revenue
CapyFin.com Forward Guidance
For fiscal year 2024, the combined Company expects revenue in the range of $200 million to $205 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income