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Standard BioTools Reports Second Quarter 2025 Financial Results

SOUTH SAN FRANCISCO, Calif., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB)听(the 鈥淐ompany鈥� or 鈥淪tandard BioTools鈥�) today announced financial results for the second quarter ended June 30, 2025. Standard BioTools will no longer host its second quarter 2025 earnings call, previously scheduled for Monday, August 11 at 4:30 p.m. ET.

Recent Highlights:

• Second quarter 2025 total combined company revenue of $42.0 million; Revenue from continuing operations of $21.8 million
• Announced strategic sale of SomaLogic to Illumina for up to $425 million in total cash consideration plus future royalties, expected to close in the first half of 2026
• $240 million in cash & cash equivalents as of June 30, 2025; At least $550 million in cash & cash equivalents expected at close of transaction with Illumina to fuel inorganic growth strategy
• Targeting adjusted EBITDA break-even in 2026

鈥淭he second quarter was a clear demonstration of our strategy in action. Our team delivered another solid quarter of performance, even as U.S. Academic spend remained under pressure, while taking meaningful steps to transform the business,鈥� said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. 鈥淭he announced sale of SomaLogic to Illumina marks a pivotal milestone in that evolution 鈥� unlocking up to $425 million in total cash consideration with additional upside levers and further validating the power of our model.鈥�

Egholm continued, 鈥淲ith at least $550 million in cash & cash equivalents expected at close and a simplified operating infrastructure, we are driving toward our profitability target in 2026. The combination of a strong balance sheet and a lean operating model positions us to continue playing offense 鈥� strategically deploying capital into high-quality, underappreciated assets 鈥� to drive scale, reignite growth and create long-term value for our shareholders.鈥�

Financial Results Table: Continuing Operations

Second Quarter 2025 Financial Results: Continuing Operations

Following the announced sale of SomaLogic in June 2025, all financial results in this section reflect continuing operations only.

• Revenue was $21.8 million in the second quarter of 2025, down 3% year-over-year, and $42 million for the first half of 2025, down 5% year-over-year:
  • Consumables revenue was $10.5 million in the second quarter of 2025, up 18% year-over-year, and $18.6 million for the first half of 2025, down 3% year-over-year. Consumables revenue in the quarter increased across imaging, flow and microfluidics product lines.
  • Instruments revenue was $5.2 million in the second quarter of 2025, down 26% year-over-year, and $11.9 million for the first half of 2025, down 1% year-over-year. Instrument revenue in the quarter was impacted by capital constrained end-markets globally.
  • Services revenue, which is predominantly Field Services, was $6.1 million in the second quarter of 2025, down 8% year-over-year, and $11.5 million for the first half of 2025, down 11% year-over-year. Field Services revenue decreased due to fewer active service contracts and lower on-demand revenue driven by improved instrument quality and uptime.

• Gross margins in the second quarter of 2025 were approximately 48.8%, versus 46.1% in the second quarter of 2024; and non-GAAP gross margins in the second quarter of 2025 were approximately 54.1%, versus 48.6% in the second quarter of 2024. Gross margins in the first half of the year were 51.6% in 2025 and 48.5% in 2024; and non-GAAP gross margins were approximately 55.6% in the first half of 2025 and 54.1% for the same period in 2024. Gross margins and non-GAAP gross margins were driven by product mix and incremental improvements from Standard BioTools Business System (SBS).
  
  
• Operating expenses in the second quarter of 2025 were $36.3 million, a decrease of听$4.3 million, or down 11%, compared to the second quarter of 2024; and non-GAAP operating expenses, which exclude transaction costs, stock-based compensation, and restructuring charges, were $27.9 million in the second quarter of 2025, a decrease of $0.4 million, or down 1%, compared to the second quarter of 2024. For the first half of 2025, operating expenses decreased by $21.8 million, or 23%, compared to the first half of 2024, to $74.3 million, while non-GAAP operating expenses decreased by $4.7 million, or 8%, compared to the same period in 2024, to $53.5 million. The decrease in operating expenses is a result of the realization of merger cost synergies and continued productivity gains from SBS.
  
  
• Net loss for the second quarter of 2025 was $17.7 million, compared to a net loss of $25.4 million in the second quarter of 2024, representing a decrease of $7.7 million or 31%, while adjusted EBITDA for the second quarter of 2025 was a loss of $16.1 million, versus an adjusted EBITDA loss of $17.4 million in the second quarter of 2024, an improvement of听$1.2 million, or 7%. Net loss for the first half improved by $0.8 million at $41.0 million while adjusted EBITDA increased by $4.1 million, or 12%, compared to the first half of 2024, to a loss of听$30.2 million.

Full Year 2025 Revenue Outlook

For fiscal year 2025, the Company expects combined revenue in the range of $165 million to $175 million. Revenue from continuing operations is expected in the range of $78 million to $83 million.

This combined outlook continues to assume a high single-digit millions decline in our Americas academic revenue due to anticipated NIH funding pressures, with a more pronounced impact on our continuing operations. It also assumes no expected effect from U.S. export controls and limited impact from tariffs.

Conference Call Information

Standard BioTools will no longer host its second quarter 2025 earnings call, previously scheduled for Monday, August 11 at 4:30 p.m. ET. In connection with the pending sale of SomaLogic and operational focus, the Company is temporarily pausing earnings conference calls until further notice.

All financial results and related disclosures are available in this press release and will be available in the Company鈥檚 filings with the U.S. Securities and Exchange Commission (鈥淪EC鈥�), including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

Use of Non-GAAP Financial Information

Standard BioTools has presented certain financial information in accordance with U.S. GAAP and on a non-GAAP basis. The non-GAAP financial measures included in this press release are non-GAAP gross margin, non-GAAP gross profit, non-GAAP operating expenses, and adjusted EBITDA. Management uses these non-GAAP financial measures, in addition to GAAP financial measures, as a measure of operating performance because the non-GAAP financial measures do not include the impact of items that management does not consider indicative of the Company鈥檚 core operating performance. Management believes that non-GAAP financial measures, taken in conjunction with GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of the Company鈥檚 core operating results. Management uses non-GAAP measures to compare the Company鈥檚 performance relative to forecasts and strategic plans and to benchmark the Company鈥檚 performance externally against competitors. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of the Company鈥檚 operating results as reported under U.S. GAAP. Standard BioTools encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliations between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP operating results are presented in the accompanying tables of this release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding future financial and business performance, including with respect to future revenue and expected cash at the closing of the transaction with Illumina; operational and strategic plans; deployment of capital; market and growth opportunity and potential; and the potential to realize the expected benefits and synergies of prior and potential future acquisitions, including the potential for such transactions to drive long-term profitable growth. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including, but not limited to, risks that the anticipated benefits and synergies of announced divestures and prior and potential future acquisitions and the integration of any such businesses, including the potential for such transactions to drive long-term profitable growth, may not be fully realized or may take longer to realize than expected; risks that the Company may not realize expected cost savings from such transactions; possible integration, restructuring and transition-related disruption resulting from such transactions, including through the loss of customers, suppliers, and employees and adverse impacts on the Company鈥檚 development activities and results of operation; the timing of the closing of the transaction with Illumina and the operating expenses over the intervening period; integration and restructuring activities, including customer and employee relations, management distraction, and reduced operating performance; risks that internal and external costs required for ongoing and planned activities may be higher than expected, which may cause the Company to use cash more quickly than it expects or change or curtail some of the Company鈥檚 plans, or both; risks that the Company鈥檚 expectations as to expenses, cash usage, and cash needs may prove not to be correct for other reasons such as changes in plans or actual events being different than our assumptions; changes in the Company鈥檚 business or external market conditions; anticipated NIH funding pressures; the expected effect from U.S. export controls and the expected impact from tariffs; challenges inherent in developing, manufacturing, launching, marketing, and selling new products; interruptions or delays in the supply of components or materials for, or manufacturing of, the Company鈥檚 products; reliance on sales of capital equipment for a significant proportion of revenues in each quarter; seasonal variations in customer operations; unanticipated increases in costs or expenses; continued or sustained budgetary, inflationary, or recessionary pressures; uncertainties in contractual relationships; reductions in research and development spending or changes in budget priorities by customers; uncertainties relating to the Company鈥檚 research and development activities, and distribution plans and capabilities; potential product performance and quality issues; risks associated with international operations; intellectual property risks; and competition. For information regarding other related risks, see the 鈥淩isk Factors鈥� section of the Company鈥檚 annual report on Form 10-K filed with the SEC on March 11, 2025, the Company鈥檚 quarterly report on Form 10-Q for the quarter ended June 30, 2025 to be filed with the SEC, and in the Company鈥檚 other filings with the SEC. These forward-looking statements speak only as of the date hereof. The Company disclaims any obligation to update these forward-looking statements except as may be required by law.

About Standard BioTools Inc.

Standard BioTools Inc. (Nasdaq: LAB), has an established portfolio of essential, standardized next-generation technologies that help biomedical researchers develop better medicines faster. As a leading solutions provider, the company provides reliable and repeatable insights in health and disease using its proprietary SomaScan, mass cytometry and microfluidics technologies, which help transform scientific discoveries into better patient outcomes. Standard BioTools works with leading academic, government, pharmaceutical, biotechnology, plant and animal research and clinical laboratories worldwide, focusing on the most pressing needs in translational and clinical research, including oncology, immunology and immunotherapy. Learn more at or connect with us on X, Facebook庐, LinkedIn, and YouTube鈩�.

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