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Olink Holding AB (NASDAQ: OLK) reported strong financial results for Q1 2021, achieving a 70% year-over-year revenue growth, totaling $13.6 million. Adjusted EBITDA stood at ($3.7) million, compared to ($1.4) million last year. The net loss was ($14.3) million, compared to ($11.1) million in Q1 2020. Olink issued 2021 revenue guidance of $90 million to $92 million, reflecting a projected growth of 66% to 70%. The completion of their IPO and the expansion of their Explore platform contributed significantly to their performance.
Olink Holding AB (Nasdaq: OLK) has announced that its Olink® Explore 1536/384 platform is now accessible to researchers in Europe via the SciLifeLab National Genomics Infrastructure and Affinity Proteomics Uppsala unit. This platform, certified in Europe, includes four protein biomarker panels addressing cardiovascular, metabolic, oncology, and inflammatory diseases. Olink's advanced technology allows simultaneous measurement of nearly 1,500 protein targets from small biological samples, with plans to expand to around 3,000 targets this year. The initiative is beneficial for precision medicine research.
Olink Holding AB (Nasdaq: OLK) will release its first-quarter 2021 financial results before market open on May 20, 2021. The management team will host a conference call at 8:00 a.m. ET to discuss these results. Investors can listen in by dialing the designated numbers based on their location. Olink specializes in proteomics and collaborates with biopharmaceutical companies and academic institutions to advance human biology understanding. Established in 2016, Olink is headquartered in Uppsala, Sweden, and operates across Europe, North America, and Asia.
Olink Holding AB (Nasdaq: OLK) has priced its initial public offering (IPO) of 17,647,058 common shares as American Depositary Shares (ADSs) at $20.00 each, aiming to raise approximately $264.7 million before expenses. This offering includes 4,411,764 ADSs sold by existing shareholders. The ADSs will begin trading on Nasdaq on March 25, 2021, with the offering expected to close on March 29, 2021, subject to customary conditions. The underwriters also have a 30-day option for an additional 2,647,058 ADSs.