Standard BioTools Reports Third Quarter 2025 Financial Results
Standard BioTools (NASDAQ: LAB) reported third quarter 2025 results for the quarter ended September 30, 2025, showing $19.6M revenue from continuing operations and $217.0M cash and equivalents on hand. Combined company revenue for Q3 was $46.2M. The company implemented an operational restructuring in September expected to deliver over $40M in annualized cost savings, and reiterated a target to reach positive adjusted EBITDA in 2026. Q3 continuing operations revenue declined 11% year-over-year with consumables down 17% and instruments down 3%. Gross margin from continuing operations was ~48.5% (non-GAAP 53.5%). Net loss from continuing operations was $31.7M and adjusted EBITDA loss was $16.5M. The company expects ~$550M in cash and equivalents at closing of the Illumina transaction in H1 2026 and maintained FY2025 combined revenue guidance of $165M–$175M.
Standard BioTools (NASDAQ: LAB) ha riportato i risultati del terzo trimestre 2025 per il trimestre chiuso al 30 settembre 2025, mostrando un fatturato di 19,6 milioni di dollari dalle operazioni in corso e liquide ed equivalenti per 217,0 milioni di dollari in cassa. Il fatturato combinato del gruppo per il Q3 era 46,2 milioni di dollari. L'azienda ha implementato una ristrutturazione operativa a settembre prevista per fornire oltre 40 milioni di dollari di risparmi annualizzati sui costi, e ha ribadito l'obiettivo di raggiungere un EBITDA rettificato positivo nel 2026. Il fatturato delle operazioni in corso nel Q3 è diminuito dell'11% anno su anno, con i consumabili in calo del 17% e gli strumenti del 3%. Il margine lordo delle operazioni in corso era di ~48,5% (non-GAAP 53,5%). La perdita netta dalle operazioni in corso era di 31,7 milioni di dollari e la perdita EBITDA rettificata era di 16,5 milioni di dollari. L'azienda prevede circa 550 milioni di dollari in contanti ed equivalenti al closing della transazione Illumina nell'H1 2026 e ha mantenuto la guidance di fatturato combinato per FY2025 tra 165–175 milioni di dollari.
Standard BioTools (NASDAQ: LAB) informó los resultados del tercer trimestre de 2025 para el trimestre terminado el 30 de septiembre de 2025, mostrando ingresos de 19,6 millones de dólares de las operaciones en curso y 217,0 millones de dólares en efectivo y equivalentes disponibles. Los ingresos combinados de la empresa para el Q3 fueron 46,2 millones de dólares. La empresa implementó una reestructuración operativa en septiembre que se espera que genere más de 40 millones de dólares en ahorros de costos anuales, y reiteró un objetivo de alcanzar EBITDA ajustado positivo en 2026. Los ingresos de operaciones continuas del Q3 cayeron un 11% interanual, con consumibles bajando un 17% y los instrumentos un 3%. El margen bruto de operaciones continuas fue aproximadamente 48,5% (no-GAAP 53,5%).La pérdida neta de operaciones continuas fue de 31,7 millones de dólares y la pérdida de EBITDA ajustado fue de 16,5 millones de dólares. La empresa espera alrededor de 550 millones de dólares en efectivo y equivalentes al cierre de la transacción Illumina en la H1 2026 y mantuvo la guía de ingresos combinados para FY2025 entre 165–175 millones de dólares.
Standard BioTools (NASDAQ: LAB)는 2025년 3분기 2025년 9월 30일 종료된 분기에 대한 실적을 발표했고, 계속영업 매출 1,960만 달러 및 현금 및 현금성자산 2억 1,700만 달러를 보유하고 있다고 밝혔습니다. Q3의 연결 매출은 4,620만 달러였습니다. 9월에 시행된 운영 구조조정은 연간 비용 절감을 4천만 달러 이상 제공할 것으로 예상되며, 2026년에 조정 EBITDA가 양호해질 것이라는 목표를 재확인했습니다. Q3의 계속영업 매출은 전년 동기 대비 11% 감소했고, 소모품은 17%, 기기는 3% 감소했습니다. 계속영업의 총이익률은 대략 48.5% (비 GAAP 53.5%)였습니다. 계속영업의 순손실은 3,170만 달러였고, 조정 EBITDA 손실은 1,650만 달러였습니다. 이 회사는 H1 2026년 Illumina 거래 종결 시 현금 및 현금성자산 약 5억 5,000만 달러를 예상했으며 FY2025의 연간 매출 가이던스는 165–175백만 달러로 유지했습니다.
Standard BioTools (NASDAQ: LAB) a publié les résultats du troisième trimestre 2025 pour le trimestre clos le 30 septembre 2025, montrant un chiffre d'affaires de 19,6 millions de dollars provenant des opérations en cours et 217,0 millions de dollars en trésorerie et équivalents disponibles. Le chiffre d'affaires combiné du groupe pour le T3 était de 46,2 millions de dollars. L'entreprise a mis en œuvre une restructuration opérationnelle en septembre qui devrait générer plus de 40 millions de dollars d'économies de coûts annualisées, et a réaffirmé l'objectif d'atteindre un EBITDA ajusté positif en 2026. Le chiffre d'affaires des opérations en cours au T3 a diminué de 11% d'une année sur l'autre, les consommables étant en baisse de 17% et les instruments de 3%. La marge brute des opérations en cours était d'environ 48,5% (non-GAAP 53,5%). La perte nette des opérations en cours était de 31,7 millions de dollars et la perte d'EBITDA ajusté était de 16,5 millions de dollars. L'entreprise s'attend à environ 550 millions de dollars en trésorerie et équivalents lors de la clôture de la transaction Illumina au cours du premier semestre 2026 et a maintenu les prévisions de chiffre d'affaires combiné pour l'exercice 2025 entre 165 et 175 millions de dollars.
Standard BioTools (NASDAQ: LAB) meldete die Ergebnisse des dritten Quartals 2025 für das Quartal zum 30. September 2025, mit Umsatz von 19,6 Millionen US-Dollar aus fortgeführten Geschäftsbereichen und 217,0 Millionen US-Dollar an Barmitteln und Zahlungsmitteln im Bestand. Der kombinierte Umsatz des Unternehmens im Q3 betrug 46,2 Millionen US-Dollar. Das Unternehmen führte im September eine operative Restrukturierung durch, von der erwartet wird, dass sie über 40 Millionen US-Dollar an jährlichen Kosteneinsparungen bringt, und bekräftigte ein Ziel, im Jahr 2026 positives bereinigtes EBITDA zu erreichen. Der Umsatz aus fortgeführten Geschäftsbereichen im Q3 ging gegenüber dem Vorjahr um 11% zurück, wobei Verbrauchsmaterialien um 17% und Instrumente um 3% sanken. Die Bruttomarge aus den fortgeführten Geschäftsbereichen lag bei ca. 48,5% (Non-GAAP 53,5%). Der Nettogewinn aus fortgeführten Geschäftsbereichen betrug −31,7 Millionen US-Dollar und der bereinigte EBITDA-Verlust betrug −16,5 Millionen US-Dollar. Das Unternehmen erwartet rund 550 Millionen US-Dollar an Barmitteln und Äquivalenten bei Abschluss der Illumina-Transaktion in der ersten Hälfte des Jahres 2026 und belässt die Jahresprognose für den kombinierten Umsatz von FY2025 im Bereich 165–175 Millionen US-Dollar.
Standard BioTools (NASDAQ: LAB) أعلنت عن نتائج الربع الثالث من عام 2025 للربع المنتهي في 30 سبتمبر 2025، مشيرة إلى إيرادات قدرها 19.6 مليون دولار من العمليات المستمرة و217.0 مليون دولار من النقد وما يعادله المتاحين. إجمالي إيرادات الشركة المجمعة للربع الثالث كان 46.2 مليون دولار. نفذت الشركة إعادة هيكلة تشغيلية في سبتمبر من المتوقع أن تُحقق أكثر من 40 مليون دولار من وفورات التكاليف السنوية، وأعادت تأكيد هدف الوصول إلى EBITDA معدل إيجابي في 2026. انخفضت إيرادات الربع الثالث من العمليات المستمرة بنسبة 11% على أساس سنوي مع انخفاض المستلزمات الاستهلاكية بنسبة 17% والأدوات بنسبة 3%. هامش الربح الإجمالي للعمليات المستمرة كان نحو 48.5% (غير GAAP 53.5%). صافي الخسارة من العمليات المستمرة كان 31.7 مليون دولار وكانت خسارة EBITDA المعدلة 16.5 مليون دولار. تتوقع الشركة نحو 550 مليون دولار من النقد والبدائل عند إغلاق صفقة Illumina في النصف الأول من 2026 وحافظت على توجيهات FY2025 لإيرادات مجمّعة بين 165 و175 مليون دولار.
- Restructuring expected to deliver >$40M annualized savings
- On track to reach positive adjusted EBITDA in 2026
- Approximately $550M cash expected at Illumina transaction close (H1 2026)
- Combined company Q3 revenue of $46.2M
- Continuing operations revenue down 11% YoY in Q3 2025
- Consumables revenue down 17% YoY in Q3 2025
- Gross margin declined to 48.5% from 54.9% (≈640 bps decrease)
- Net loss widened 45% to $31.7M in Q3 2025
- Adjusted EBITDA loss increased 21% to $16.5M in Q3 2025
- Cash and investments of $217.0M at Sept 30, 2025, down from $338.1M
Insights
Mixed quarter: ongoing revenue decline and losses offset by cost cuts and a large expected cash infusion from Illumina.
The Company reported continuing‑operations revenue of
Management implemented a restructuring expected to deliver over
Dependencies and risks center on execution of the restructuring and transaction mechanics. Realization of the stated
Key monitorables: receipt of the expected cash at close in the first half of
SOUTH SAN FRANCISCO, Calif., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced financial results for the quarter ended September 30, 2025.
Recent Highlights:
- Third quarter 2025 total combined company revenue of
$46.2 million ; Revenue from continuing operations of$19.6 million - Implemented restructuring plan expected to deliver over
$40 million in annualized cost savings; On track to achieve positive adjusted EBITDA target in 2026 $217.0 million in cash & cash equivalents as of September 30, 2025; Approximately$550 million in cash & cash equivalents expected at close of transaction with Illumina in first half of 2026 to fuel inorganic growth strategy
“The third quarter marked another period of solid execution as we sharpen our focus and position Standard BioTools for the next stage,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. “Our commercial team delivered consistent overall performance amid a still-evolving macro environment, and with cost savings initiatives beginning to take hold, we are simplifying operations, increasing productivity and driving the go-forward business toward profitability expected in 2026. Combined with a strong balance sheet at quarter end and the significant cash injection expected from the pending Illumina transaction, we are well positioned to expand our portfolio through strategic M&A that we believe will fuel growth and deliver long-term value for our shareholders.”
Operational Restructuring
In September, as previously disclosed in the Company’s SEC filings, the Company implemented a phased operational restructuring plan expected to deliver over
“Given the current operating environment, these decisions were important to keep our organization lean, focused and positioned to emerge stronger tomorrow than we are today,” said Alex Kim, Chief Financial Officer of Standard BioTools. “I want to sincerely thank our departing colleagues for their contributions as we take these steps to secure the long-term success of Standard BioTools – delivering innovative solutions to our customers as they advance science and improve human health.”
The cost savings initiative, together with the continued application of the Standard BioTools Business System (SBS), is expected to generate efficiencies across sales and marketing, research and development, and general and administrative functions. As previously announced, Standard BioTools will consolidate its South San Francisco operations into its Singapore facility, co-locating research and development with manufacturing. As part of this transition, the Company also plans to establish its global headquarters in Boston.
Financial Results Table: Continuing Operations
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| (Unaudited, in millions, except percentages) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Revenue | $ | 19.6 | $ | 22.1 | $ | 61.5 | $ | 66.2 | |||||||
| Gross margin | 48.5 | % | 54.9 | % | 50.6 | % | 50.6 | % | |||||||
| Non-GAAP gross margin | 53.5 | % | 57.3 | % | 54.9 | % | 55.2 | % | |||||||
| Operating expenses | $ | 42.4 | $ | 38.8 | $ | 116.8 | $ | 134.9 | |||||||
| Non-GAAP operating expenses | $ | 27.0 | $ | 26.3 | $ | 80.5 | $ | 84.5 | |||||||
| Operating loss | $ | (32.9 | ) | $ | (26.7 | ) | $ | (85.6 | ) | $ | (101.4 | ) | |||
| Net loss from continuing operations | $ | (31.7 | ) | $ | (21.9 | ) | $ | (72.7 | ) | $ | (63.8 | ) | |||
| Adjusted EBITDA | $ | (16.5 | ) | $ | (13.7 | ) | $ | (46.8 | ) | $ | (48.0 | ) | |||
| Cash, cash equivalents, restricted cash, short-term and long-term investments | $ | 217.0 | $ | 338.1 | $ | 217.0 | $ | 338.1 | |||||||
Third Quarter 2025 Financial Results: Continuing Operations
Following the announced sale of SomaLogic, Inc. (“SomaLogic”) and other specified assets to Illumina, Inc. (“Illumina”) in June 2025, all financial results in this section reflect continuing operations only.
- Revenue was
$19.6 million in the third quarter of 2025, down11% year-over-year.- Consumables revenue was
$8.7 million in the third quarter of 2025, down17% year-over-year. Lower consumables revenue in the quarter reflected project funding declines in flow and microfluidics, partially offset by growth in imaging. - Instruments revenue was
$5.1 million in the third quarter of 2025, down3% year-over-year. Instrument revenue in the quarter reflected growth in imaging but overall remained impacted by capital-constrained end-markets globally. - Services revenue, which is predominantly Field Services, was
$5.8 million in the third quarter of 2025, down9% 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.
- Consumables revenue was
- Gross margins in the third quarter of 2025 were approximately
48.5% , versus54.9% in the third quarter of 2024; and non-GAAP gross margins in the third quarter of 2025 were approximately53.5% , versus57.3% in the third quarter of 2024. Gross margins and non-GAAP gross margins were driven by volume and product mix. - Operating expenses in the third quarter of 2025 were
$42.4 million , an increase of$3.6 million , or up9% , compared to the third quarter of 2024. Operating expenses included$9.4 million in restructuring and related charges. Non-GAAP operating expenses, which exclude transaction costs, stock-based compensation, and restructuring charges, were$27.0 million in the third quarter of 2025, an increase of$0.7 million , or up3% , compared to the third quarter of 2024. The increase in operating expenses is due to the reclassification of SomaLogic as discontinued operations and the retention of shared corporate costs within continuing operations, more than offsetting lower R&D expenses and continued productivity gains from SBS. - Net loss for the third quarter of 2025 was
$31.7 million , compared to a net loss of$21.9 million in the third quarter of 2024, representing an increase of$9.8 million or45% , while adjusted EBITDA for the third quarter of 2025 was a loss of$16.5 million , versus an adjusted EBITDA loss of$13.7 million in the third quarter of 2024, an increase of$2.9 million , or21% .
Full Year 2025 Revenue Outlook
For fiscal year 2025, the Company continues to expect combined revenue in the range of
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’s 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’s core operating results. Management uses non-GAAP measures to compare the Company’s performance relative to forecasts and strategic plans and to benchmark the Company’s 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’s 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, including potential cost savings from the operational restructuring plan and the timing for realizing such cost savings; 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’s 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’s plans, or both; risks that the Company’s 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’s 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’s 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’s 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 “Risk Factors” section of the Company’s annual report on Form 10-K, for the year ended December 31, 2024, filed with the SEC on March 11, 2025, the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 15, 2025, and in the Company’s 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 standardbio.com or connect with us on X, Facebook®, LinkedIn, and YouTube™.
For Research Use Only. Not for use in diagnostic procedures.
Limited Use Label License and other terms may apply: standardbio.com/legal/salesterms.
Patent and License Information: standardbio.com/legal/notices.
Trademarks: standardbio.com/legal/trademarks. Any other trademarks are the sole property of their respective owners. ©2025 Standard BioTools Inc. (f.k.a. Fluidigm Corporation). All rights reserved.
Investor Contact:
ir@standardbio.com
| STANDARD BIOTOOLS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Continuing Operations (In thousands, except per share amounts) (Unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue: | ||||||||||||||||
| Product revenue | $ | 13,800 | $ | 15,779 | $ | 44,254 | $ | 46,987 | ||||||||
| Services and other revenue | 5,752 | 6,307 | 17,282 | 19,244 | ||||||||||||
| Total revenue | 19,552 | 22,086 | 61,536 | 66,231 | ||||||||||||
| Cost of revenue: | ||||||||||||||||
| Cost of product revenue | 6,728 | 6,159 | 20,767 | 21,775 | ||||||||||||
| Cost of services and other revenue | 3,340 | 3,801 | 9,608 | 10,930 | ||||||||||||
| Total cost of revenue | 10,068 | 9,960 | 30,375 | 32,705 | ||||||||||||
| Gross profit | 9,484 | 12,126 | 31,161 | 33,526 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 6,356 | 6,939 | 18,018 | 21,791 | ||||||||||||
| Selling, general and administrative | 26,595 | 24,466 | 84,524 | 75,740 | ||||||||||||
| Restructuring and related charges | 9,428 | 2,341 | 12,707 | 12,374 | ||||||||||||
| Transaction and integration expenses | 43 | 5,079 | 1,517 | 25,024 | ||||||||||||
| Total operating expenses | 42,422 | 38,825 | 116,766 | 134,929 | ||||||||||||
| Loss from continuing operations | (32,938 | ) | (26,699 | ) | (85,605 | ) | (101,403 | ) | ||||||||
| Bargain purchase gain | — | — | — | 25,213 | ||||||||||||
| Interest income | 2,140 | 4,794 | 7,517 | 16,303 | ||||||||||||
| Interest expense | (10 | ) | (853 | ) | (21 | ) | (2,744 | ) | ||||||||
| Other income (expense), net | (2,092 | ) | 957 | 3,438 | (865 | ) | ||||||||||
| Loss from continuing operations before income taxes | (32,900 | ) | (21,801 | ) | (74,671 | ) | (63,496 | ) | ||||||||
| Income tax benefit (expense) | 1,216 | (118 | ) | 1,944 | (270 | ) | ||||||||||
| Net loss from continuing operations | (31,684 | ) | (21,919 | ) | (72,727 | ) | (63,766 | ) | ||||||||
| Discontinued operations: | ||||||||||||||||
| Loss from discontinued operations, net of tax | (3,003 | ) | (5,019 | ) | (21,452 | ) | (41,047 | ) | ||||||||
| Net loss | (34,687 | ) | (26,938 | ) | (94,179 | ) | (104,813 | ) | ||||||||
| Induced conversion of redeemable preferred stock | — | — | — | (46,014 | ) | |||||||||||
| Net loss attributable to common stockholders | $ | (34,687 | ) | $ | (26,938 | ) | $ | (94,179 | ) | $ | (150,827 | ) | ||||
| Net loss per share from continuing operations, basic and diluted | $ | (0.08 | ) | $ | (0.06 | ) | $ | (0.19 | ) | $ | (0.32 | ) | ||||
| Net loss per share from discontinued operations, basic and diluted | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.06 | ) | $ | (0.12 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.09 | ) | $ | (0.07 | ) | $ | (0.25 | ) | $ | (0.44 | ) | ||||
| Shares used in computing net loss per share attributable to common stockholders, basic and diluted | 382,630 | 371,538 | 380,468 | 346,093 | ||||||||||||
| STANDARD BIOTOOLS INC. CONDENSED CONSOLIDATED BALANCE SHEETS Continuing Operations (In thousands) (Unaudited) | ||||||||
| September 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 129,418 | $ | 166,728 | ||||
| Short-term investments | 65,485 | 126,146 | ||||||
| Accounts receivable, net | 13,536 | 14,741 | ||||||
| Inventory | 25,418 | 20,744 | ||||||
| Prepaid expenses and other current assets | 7,906 | 4,561 | ||||||
| Current assets held for sale | 230,676 | 42,963 | ||||||
| Total current assets | 472,439 | 375,883 | ||||||
| Property and equipment, net | 20,738 | 22,775 | ||||||
| Operating lease right-of-use asset, net | 23,453 | 26,567 | ||||||
| Other non-current assets | 3,521 | 3,688 | ||||||
| Long-term investments | 19,485 | — | ||||||
| Non-current assets held for sale | — | 183,432 | ||||||
| Total assets | $ | 539,636 | $ | 612,345 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 6,619 | $ | 5,049 | ||||
| Accrued liabilities | 30,810 | 21,435 | ||||||
| Operating lease liabilities, current | 5,113 | 4,806 | ||||||
| Deferred revenue, current | 40,111 | 10,274 | ||||||
| Deferred grant income, current | 3,098 | 3,527 | ||||||
| Current liabilities held for sale | 22,214 | 20,804 | ||||||
| Total current liabilities | 107,965 | 65,895 | ||||||
| Convertible notes, non-current | 299 | 299 | ||||||
| Deferred tax liability | 1,139 | 1,081 | ||||||
| Operating lease liabilities, non-current | 21,977 | 25,590 | ||||||
| Deferred revenue, non-current | 2,366 | 32,674 | ||||||
| Deferred grant income, non-current | 5,031 | 7,243 | ||||||
| Other non-current liabilities | 1,200 | 1,062 | ||||||
| Non-current liabilities held for sale | — | 6,779 | ||||||
| Total liabilities | 139,977 | 140,623 | ||||||
| Total stockholders’ equity | 399,659 | 471,722 | ||||||
| Total liabilities and stockholders’ equity | $ | 539,636 | $ | 612,345 | ||||
| STANDARD BIOTOOLS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) | ||||||||
| Nine Months Ended September 30, | ||||||||
| 2025 | 2024 | |||||||
| Operating activities | ||||||||
| Net loss | $ | (94,179 | ) | $ | (104,813 | ) | ||
| Bargain purchase gain | — | (25,213 | ) | |||||
| Stock-based compensation expense | 23,870 | 24,262 | ||||||
| Amortization of acquired intangible assets | 1,715 | 3,533 | ||||||
| Depreciation and amortization | 7,971 | 9,375 | ||||||
| Accretion of discount on short-term investments, net | (2,182 | ) | (6,303 | ) | ||||
| Non-cash lease expense | 4,435 | 4,348 | ||||||
| Provision for excess and obsolete inventory | 1,975 | 1,991 | ||||||
| Change in fair value of warrants | (232 | ) | (474 | ) | ||||
| Change in fair value of contingent consideration | (3,400 | ) | — | |||||
| Other non-cash items | 922 | 1,111 | ||||||
| Changes in assets and liabilities, net | (14,048 | ) | (37,212 | ) | ||||
| Net cash used in operating activities | (73,153 | ) | (129,395 | ) | ||||
| Investing activities | ||||||||
| Cash and restricted cash acquired in merger | — | 280,033 | ||||||
| Purchases of short-term investments | (91,241 | ) | (226,612 | ) | ||||
| Purchases of long-term investments | (19,483 | ) | — | |||||
| Proceeds from sales and maturities of investments | 154,000 | 289,000 | ||||||
| Purchases of property and equipment | (7,827 | ) | (4,973 | ) | ||||
| Net cash provided by investing activities | 35,449 | 337,448 | ||||||
| Financing activities | ||||||||
| Repayment of term loan and convertible notes | — | (8,192 | ) | |||||
| Payment of term loan fee | — | (545 | ) | |||||
| Repurchase of common stock | — | (40,490 | ) | |||||
| Proceeds from ESPP stock issuance | 308 | 425 | ||||||
| Payments for taxes related to net share settlement of equity awards and other | (358 | ) | (414 | ) | ||||
| Proceeds from exercise of stock options | — | 1,120 | ||||||
| Net cash provided by (used in) financing activities | (50 | ) | (48,096 | ) | ||||
| Effect of foreign exchange rate fluctuations on cash and cash equivalents | 942 | (518 | ) | |||||
| Net (decrease) increase in cash, cash equivalents and restricted cash | (36,812 | ) | 159,439 | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 168,818 | 52,499 | ||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 132,006 | $ | 211,938 | ||||
| Cash, cash equivalents, and restricted cash consists of: | ||||||||
| Cash and cash equivalents | $ | 129,418 | $ | 210,647 | ||||
| Restricted cash | 2,588 | 1,291 | ||||||
| Total cash, cash equivalents and restricted cash | $ | 132,006 | $ | 211,938 | ||||
| STANDARD BIOTOOLS INC. REVENUE Continuing Operations (In thousands) (Unaudited) | |||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Product revenue: | |||||||||||||
| Instruments | $ | 5,095 | $ | 5,271 | $ | 16,956 | $ | 17,221 | |||||
| Consumables | 8,705 | 10,508 | 27,298 | 29,766 | |||||||||
| Total product revenue | 13,800 | 15,779 | 44,254 | 46,987 | |||||||||
| Services and other revenue | 5,752 | 6,307 | 17,282 | 19,244 | |||||||||
| Total revenue | $ | 19,552 | $ | 22,086 | $ | 61,536 | $ | 66,231 | |||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Continuing Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GROSS PROFIT TO NON-GAAP GROSS PROFIT AND MARGIN PERCENTAGE | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Gross profit | $ | 9,484 | $ | 12,126 | $ | 31,161 | $ | 33,526 | ||||||||
| Amortization of acquired intangible assets | — | — | — | 1,407 | ||||||||||||
| Depreciation and amortization | 590 | 318 | 1,407 | 1,017 | ||||||||||||
| Stock-based compensation expense | 386 | 218 | 1,030 | 601 | ||||||||||||
| Loss on disposal of property and equipment | — | — | 187 | — | ||||||||||||
| Cost of sales adjustment | — | — | — | — | ||||||||||||
| Non-GAAP gross profit | $ | 10,460 | $ | 12,662 | $ | 33,785 | $ | 36,551 | ||||||||
| Gross margin percentage | 48.5 | % | 54.9 | % | 50.6 | % | 50.6 | % | ||||||||
| Amortization of acquired intangible assets | — | — | — | 2.2 | % | |||||||||||
| Depreciation and amortization | 3.0 | % | 1.4 | % | 2.3 | % | 1.5 | % | ||||||||
| Stock-based compensation expense | 2.0 | % | 1.0 | % | 1.7 | % | 0.9 | % | ||||||||
| Loss on disposal of property and equipment | — | — | 0.3 | % | — | |||||||||||
| Cost of sales adjustment | — | — | — | — | ||||||||||||
| Non-GAAP gross margin percentage | 53.5 | % | 57.3 | % | 54.9 | % | 55.2 | % | ||||||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Continuing Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating expenses | $ | 42,422 | $ | 38,825 | $ | 116,766 | $ | 134,929 | ||||||||
| Restructuring and related charges | (9,428 | ) | (2,341 | ) | (12,707 | ) | (12,374 | ) | ||||||||
| Transaction and integration expenses | (43 | ) | (5,079 | ) | (1,517 | ) | (25,024 | ) | ||||||||
| Stock-based compensation expense | (4,938 | ) | (4,431 | ) | (17,715 | ) | (11,026 | ) | ||||||||
| Amortization of acquired intangible assets | — | — | — | — | ||||||||||||
| Depreciation and amortization | (1,009 | ) | (650 | ) | (4,286 | ) | (1,945 | ) | ||||||||
| Loss on disposal of property and equipment | — | (4 | ) | — | (27 | ) | ||||||||||
| Non-GAAP operating expenses | $ | 27,004 | $ | 26,320 | $ | 80,541 | $ | 84,533 | ||||||||
| R&D operating expenses | $ | 6,356 | $ | 6,939 | $ | 18,018 | $ | 21,791 | ||||||||
| Stock-based compensation expense | (497 | ) | (403 | ) | (1,317 | ) | (1,047 | ) | ||||||||
| Depreciation and amortization | (228 | ) | (148 | ) | (997 | ) | (437 | ) | ||||||||
| Gain on disposal of property and equipment | — | — | 28 | — | ||||||||||||
| Non-GAAP R&D operating expenses | $ | 5,631 | $ | 6,388 | $ | 15,732 | $ | 20,307 | ||||||||
| SG&A operating expenses | $ | 26,595 | $ | 24,466 | $ | 84,524 | $ | 75,740 | ||||||||
| Stock-based compensation expense | (4,441 | ) | (4,028 | ) | (16,398 | ) | (9,979 | ) | ||||||||
| Amortization of acquired intangible assets | — | — | — | — | ||||||||||||
| Depreciation and amortization | (781 | ) | (502 | ) | (3,289 | ) | (1,508 | ) | ||||||||
| Loss on disposal of property and equipment | — | (4 | ) | (28 | ) | (27 | ) | |||||||||
| Non-GAAP SG&A operating expenses | $ | 21,373 | $ | 19,932 | $ | 64,809 | $ | 64,226 | ||||||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Continuing Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (31,684 | ) | $ | (21,919 | ) | $ | (72,727 | ) | $ | (63,766 | ) | ||||
| Income tax (benefit) expense | (1,216 | ) | 118 | (1,944 | ) | 270 | ||||||||||
| Interest income | (2,140 | ) | (4,794 | ) | (7,517 | ) | (16,303 | ) | ||||||||
| Interest expense | 10 | 853 | 21 | 2,744 | ||||||||||||
| Amortization of acquired intangible assets | — | — | — | 1,407 | ||||||||||||
| Depreciation and amortization | 1,599 | 967 | 5,693 | 2,961 | ||||||||||||
| Bargain purchase gain | — | — | — | (25,213 | ) | |||||||||||
| Restructuring and related charges | 7,216 | 2,341 | 10,495 | 12,374 | ||||||||||||
| Transaction and integration expenses | 43 | 5,079 | 1,517 | 25,024 | ||||||||||||
| Stock-based compensation expense | 7,536 | 4,649 | 20,957 | 11,627 | ||||||||||||
| Cost of sales adjustment | — | — | — | — | ||||||||||||
| Loss on disposal of property and equipment | — | 4 | 187 | 27 | ||||||||||||
| Other non-operating (income) expense | 2,092 | (957 | ) | (3,438 | ) | 865 | ||||||||||
| Adjusted EBITDA | $ | (16,544 | ) | $ | (13,658 | ) | $ | (46,756 | ) | $ | (47,982 | ) | ||||
| STANDARD BIOTOOLS INC. Condensed Results of Operations Discontinued Operations (In thousands) (Unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 26,693 | $ | 22,884 | $ | 67,466 | $ | 61,484 | ||||||||
| Cost of revenue | 14,352 | 11,749 | 37,784 | 32,653 | ||||||||||||
| Selling, general and administrative expenses | 8,474 | 9,937 | 25,573 | 43,280 | ||||||||||||
| Research and development | 4,849 | 6,217 | 16,587 | 26,567 | ||||||||||||
| Transaction and integration expenses | 2,203 | - | 12,710 | - | ||||||||||||
| Other (income) expense, net | (182 | ) | - | (3,736 | ) | 31 | ||||||||||
| Total expenses | $ | 29,696 | $ | 27,903 | $ | 88,918 | $ | 102,531 | ||||||||
| Loss from discontinued operations | $ | (3,003 | ) | $ | (5,019 | ) | $ | (21,452 | ) | $ | (41,047 | ) | ||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Discontinued Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GROSS PROFIT TO NON-GAAP GROSS PROFIT AND MARGIN PERCENTAGE | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Gross profit | $ | 12,340 | $ | 11,134 | $ | 29,682 | $ | 28,831 | ||||||||
| Amortization of acquired intangible assets | — | 540 | 1,370 | 1,644 | ||||||||||||
| Depreciation and amortization | (76 | ) | 1,126 | 1,276 | 2,418 | |||||||||||
| Stock-based compensation expense | 214 | 146 | 628 | 296 | ||||||||||||
| Loss on disposal of property and equipment | 7 | — | 65 | — | ||||||||||||
| Cost of sales adjustment | — | — | — | (1,812 | ) | |||||||||||
| Non-GAAP gross profit | $ | 12,485 | $ | 12,946 | $ | 33,021 | $ | 31,377 | ||||||||
| Gross margin percentage | 46.2 | % | 48.7 | % | 44.0 | % | 46.9 | % | ||||||||
| Amortization of acquired intangible assets | — | 2.4 | % | 2.0 | % | 2.6 | % | |||||||||
| Depreciation and amortization | (0.2 | )% | 4.9 | % | 1.9 | % | 3.9 | % | ||||||||
| Stock-based compensation expense | 0.8 | % | 0.6 | % | 0.9 | % | 0.5 | % | ||||||||
| Loss on disposal of property and equipment | — | — | 0.1 | % | — | |||||||||||
| Cost of sales adjustment | — | — | — | (2.9 | )% | |||||||||||
| Non-GAAP gross margin percentage | 46.8 | % | 56.6 | % | 48.9 | % | 51.0 | % | ||||||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Discontinued Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating expenses | $ | 15,526 | $ | 16,154 | $ | 54,974 | $ | 69,847 | ||||||||
| Restructuring and related charges | — | — | (104 | ) | — | |||||||||||
| Transaction and integration expenses | (2,203 | ) | — | (12,710 | ) | — | ||||||||||
| Stock-based compensation expense | (724 | ) | (1,126 | ) | (2,285 | ) | (12,339 | ) | ||||||||
| Amortization of acquired intangible assets | — | (171 | ) | (345 | ) | (482 | ) | |||||||||
| Depreciation and amortization | — | (1,053 | ) | (1,004 | ) | (3,995 | ) | |||||||||
| Loss on disposal of property and equipment | (9 | ) | (26 | ) | (199 | ) | (388 | ) | ||||||||
| Non-GAAP operating expenses | $ | 12,590 | $ | 13,778 | $ | 38,327 | $ | 52,643 | ||||||||
| R&D operating expenses | $ | 4,849 | $ | 6,217 | $ | 16,587 | $ | 26,567 | ||||||||
| Stock-based compensation expense | (258 | ) | (321 | ) | (1,139 | ) | (3,433 | ) | ||||||||
| Depreciation and amortization | — | (799 | ) | (843 | ) | (2,169 | ) | |||||||||
| Loss on disposal of property and equipment | (9 | ) | — | (175 | ) | — | ||||||||||
| Non-GAAP R&D operating expenses | $ | 4,582 | $ | 5,097 | $ | 14,430 | $ | 20,965 | ||||||||
| SG&A operating expenses | $ | 8,474 | $ | 9,937 | $ | 25,573 | $ | 43,280 | ||||||||
| Stock-based compensation expense | (466 | ) | (805 | ) | (1,146 | ) | (8,906 | ) | ||||||||
| Amortization of acquired intangible assets | — | (171 | ) | (345 | ) | (482 | ) | |||||||||
| Depreciation and amortization | — | (254 | ) | (161 | ) | (1,826 | ) | |||||||||
| Loss on disposal of property and equipment | — | (26 | ) | (24 | ) | (388 | ) | |||||||||
| Non-GAAP SG&A operating expenses | $ | 8,008 | $ | 8,681 | $ | 23,897 | $ | 31,678 | ||||||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Discontinued Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (3,003 | ) | $ | (5,019 | ) | $ | (21,452 | ) | $ | (41,047 | ) | ||||
| Income tax (benefit) expense | (1 | ) | — | (158 | ) | 31 | ||||||||||
| Interest income | — | — | — | — | ||||||||||||
| Interest expense | — | — | — | — | ||||||||||||
| Amortization of acquired intangible assets | — | 711 | 1,715 | 2,126 | ||||||||||||
| Depreciation and amortization | (76 | ) | 2,180 | 2,280 | 6,414 | |||||||||||
| Bargain purchase gain | — | — | — | — | ||||||||||||
| Restructuring and related charges | — | — | 104 | — | ||||||||||||
| Transaction and integration expenses | 2,203 | — | 12,710 | — | ||||||||||||
| Stock-based compensation expense | 938 | 1,272 | 2,913 | 12,635 | ||||||||||||
| Cost of sales adjustment | — | — | — | (1,812 | ) | |||||||||||
| Loss on disposal of property and equipment | 17 | 25 | 265 | 388 | ||||||||||||
| Other non-operating (income) expense | (183 | ) | — | (3,683 | ) | — | ||||||||||
| Adjusted EBITDA | $ | (105 | ) | $ | (832 | ) | $ | (5,306 | ) | $ | (21,266 | ) | ||||
| STANDARD BIOTOOLS INC. Condensed Combined Results of Operations Continuing Operations and Discontinued Operations (In thousands) (Unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 46,245 | $ | 44,970 | $ | 129,002 | $ | 127,715 | ||||||||
| Cost of revenue | 24,420 | 21,709 | 68,159 | 65,358 | ||||||||||||
| Selling, general and administrative expenses | 35,069 | 34,403 | 110,097 | 119,020 | ||||||||||||
| Research and development | 11,205 | 13,156 | 34,605 | 48,358 | ||||||||||||
| Transaction and integration expenses | 2,246 | 5,079 | 14,227 | 25,024 | ||||||||||||
| Restructuring | 9,428 | 2,341 | 12,707 | 12,374 | ||||||||||||
| Other (income) expense, net | (1,436 | ) | (4,780 | ) | (16,614 | ) | (37,606 | ) | ||||||||
| Total expenses | $ | 80,932 | $ | 71,908 | $ | 223,181 | $ | 232,528 | ||||||||
| Net loss | $ | (34,687 | ) | $ | (26,938 | ) | $ | (94,179 | ) | $ | (104,813 | ) | ||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Continuing Operations and Discontinued Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GROSS PROFIT TO NON-GAAP GROSS PROFIT AND MARGIN PERCENTAGE | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Gross profit | $ | 21,824 | $ | 23,260 | $ | 60,843 | $ | 62,357 | ||||||||
| Amortization of acquired intangible assets | — | 540 | 1,370 | 3,051 | ||||||||||||
| Depreciation and amortization | 514 | 1,444 | 2,681 | 3,435 | ||||||||||||
| Stock-based compensation expense | 600 | 364 | 1,658 | 897 | ||||||||||||
| Loss on disposal of property and equipment | 7 | — | 252 | — | ||||||||||||
| Cost of sales adjustment | — | — | — | (1,812 | ) | |||||||||||
| Non-GAAP gross profit | $ | 22,945 | $ | 25,608 | $ | 66,804 | $ | 67,928 | ||||||||
| Gross margin percentage | 47.2 | % | 51.7 | % | 47.2 | % | 48.8 | % | ||||||||
| Amortization of acquired intangible assets | — | 1.2 | % | 1.1 | % | 2.4 | % | |||||||||
| Depreciation and amortization | 1.1 | % | 3.2 | % | 2.1 | % | 2.7 | % | ||||||||
| Stock-based compensation expense | 1.3 | % | 0.8 | % | 1.3 | % | 0.7 | % | ||||||||
| Loss on disposal of property and equipment | — | — | 0.1 | % | — | |||||||||||
| Cost of sales adjustment | — | — | — | (1.4 | )% | |||||||||||
| Non-GAAP gross margin percentage | 49.6 | % | 56.9 | % | 51.8 | % | 53.2 | % | ||||||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Continuing Operations and Discontinued Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating expenses | $ | 57,948 | $ | 54,979 | $ | 171,740 | $ | 204,776 | ||||||||
| Restructuring and related charges | (9,428 | ) | (2,341 | ) | (12,811 | ) | (12,374 | ) | ||||||||
| Transaction and integration expenses | (2,246 | ) | (5,079 | ) | (14,227 | ) | (25,024 | ) | ||||||||
| Stock-based compensation expense | (5,662 | ) | (5,557 | ) | (20,000 | ) | (23,365 | ) | ||||||||
| Amortization of acquired intangible assets | — | (171 | ) | (345 | ) | (482 | ) | |||||||||
| Depreciation and amortization | (1,009 | ) | (1,703 | ) | (5,290 | ) | (5,940 | ) | ||||||||
| Loss on disposal of property and equipment | (9 | ) | (30 | ) | (199 | ) | (415 | ) | ||||||||
| Non-GAAP operating expenses | $ | 39,594 | $ | 40,098 | $ | 118,868 | $ | 137,176 | ||||||||
| R&D operating expenses | $ | 11,205 | $ | 13,156 | $ | 34,605 | $ | 48,358 | ||||||||
| Stock-based compensation expense | (755 | ) | (724 | ) | (2,456 | ) | (4,480 | ) | ||||||||
| Depreciation and amortization | (228 | ) | (947 | ) | (1,840 | ) | (2,606 | ) | ||||||||
| Loss on disposal of property and equipment | (9 | ) | — | (147 | ) | — | ||||||||||
| Non-GAAP R&D operating expenses | $ | 10,213 | $ | 11,485 | $ | 30,162 | $ | 41,272 | ||||||||
| SG&A operating expenses | $ | 35,069 | $ | 34,403 | $ | 110,097 | $ | 119,020 | ||||||||
| Stock-based compensation expense | (4,907 | ) | (4,833 | ) | (17,544 | ) | (18,885 | ) | ||||||||
| Amortization of acquired intangible assets | — | (171 | ) | (345 | ) | (482 | ) | |||||||||
| Depreciation and amortization | (781 | ) | (756 | ) | (3,450 | ) | (3,334 | ) | ||||||||
| Loss on disposal of property and equipment | — | (30 | ) | (52 | ) | (415 | ) | |||||||||
| Non-GAAP SG&A operating expenses | $ | 29,381 | $ | 28,613 | $ | 88,706 | $ | 95,904 | ||||||||
| STANDARD BIOTOOLS INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION Continuing Operations and Discontinued Operations (In thousands) (Unaudited) ITEMIZED RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (34,687 | ) | $ | (26,938 | ) | $ | (94,179 | ) | $ | (104,813 | ) | ||||
| Income tax (benefit) expense | (1,217 | ) | 118 | (2,102 | ) | 301 | ||||||||||
| Interest income | (2,140 | ) | (4,794 | ) | (7,517 | ) | (16,303 | ) | ||||||||
| Interest expense | 10 | 853 | 21 | 2,744 | ||||||||||||
| Amortization of acquired intangible assets | — | 711 | 1,715 | 3,533 | ||||||||||||
| Depreciation and amortization | 1,523 | 3,147 | 7,971 | 9,375 | ||||||||||||
| Bargain purchase gain | — | — | — | (25,213 | ) | |||||||||||
| Restructuring and related charges | 7,216 | 2,341 | 10,599 | 12,374 | ||||||||||||
| Transaction and integration expenses | 2,246 | 5,079 | 14,227 | 25,024 | ||||||||||||
| Stock-based compensation expense | 8,474 | 5,921 | 23,870 | 24,262 | ||||||||||||
| Cost of sales adjustment | — | — | — | (1,812 | ) | |||||||||||
| Loss on disposal of property and equipment | 17 | 29 | 452 | 415 | ||||||||||||
| Other non-operating (income) expense | 1,909 | (957 | ) | (7,121 | ) | 865 | ||||||||||
| Adjusted EBITDA | $ | (16,649 | ) | $ | (14,490 | ) | $ | (52,064 | ) | $ | (69,248 | ) | ||||
FAQ
What were Standard BioTools (LAB) continuing operations revenue and cash on Sept 30, 2025?
How much cost savings did Standard BioTools (LAB) expect from its September 2025 restructuring?
What did Standard BioTools (LAB) report for Q3 2025 adjusted EBITDA and net loss?
How did Standard BioTools (LAB) say the Illumina transaction will affect its cash position?
What revenue guidance did Standard BioTools (LAB) provide for full-year 2025?
Which product segments drove the Q3 2025 revenue decline at Standard BioTools (LAB)?
