Standard BioTools (LAB) Q1 2026 results show big cash boost and EBITDA gains
Rhea-AI Filing Summary
Standard BioTools Inc. reported first quarter 2026 results with revenue of $21.1 million, up 5% year-over-year, and a sharply reduced operating loss of $12.5 million. Net loss from continuing operations improved to $14.6 million, while adjusted EBITDA loss narrowed to $3.1 million from $14.1 million.
Product trends were mixed: consumables revenue rose 35% to $11.0 million, services grew 5% to $5.7 million, and instruments declined 33% to $4.5 million amid capital-constrained end markets. Operating expenses fell 37% to $23.8 million, reflecting restructuring actions.
The completed sale of SomaLogic drove $141.7 million income from discontinued operations and total net income of $127.1 million. Cash, cash equivalents, restricted cash, and liquid investments reached $523.6 million as of March 31, 2026. The company continues to expect full year 2026 revenue of $80–$85 million.
Positive
- Adjusted EBITDA sharply improved: Adjusted EBITDA loss narrowed to $3.1 million from $14.1 million year-over-year, a 78% improvement, indicating significant progress toward the company’s goal of positive adjusted EBITDA in 2026.
- Substantially stronger balance sheet: Cash, cash equivalents, restricted cash, and liquid investments reached $523.6 million as of March 31, 2026, boosted by $363.2 million cash from the SomaLogic sale, providing considerable financial flexibility.
Negative
- Core operations remain loss-making: Despite improvements, the company still recorded a $14.6 million net loss from continuing operations and a $3.1 million adjusted EBITDA loss in the quarter.
- Instrument demand under pressure: Instruments revenue fell 33% year-over-year to $4.5 million, with management citing capital-constrained end markets and strong prior-year comparisons.
Insights
Stronger profitability metrics and a cash-rich balance sheet mark a pivotal quarter.
Standard BioTools delivered modest top-line growth but substantial margin progress. Revenue from continuing operations rose to $21.1 million with consumables up strongly, while operating expenses fell 37% to $23.8 million due to restructuring.
Profitability metrics improved meaningfully. Net loss from continuing operations narrowed to $14.6 million, and adjusted EBITDA loss shrank to $3.1 million, a 78% year-over-year improvement. This supports management’s stated goal of achieving positive adjusted EBITDA exiting 2026.
Balance sheet strength is a key feature. Cash, cash equivalents, restricted cash, and liquid investments were $523.6 million as of March 31, 2026, aided by $363.2 million cash proceeds from the SomaLogic sale, while total liabilities declined. The company reaffirmed full-year 2026 revenue guidance of $80–$85 million.
8-K Event Classification
Key Figures
Key Terms
adjusted EBITDA financial
non-GAAP gross margin financial
discontinued operations financial
contingent consideration receivable financial
forward-looking statements regulatory
Earnings Snapshot
For fiscal year 2026, the company continues to expect revenue in the range of $80 million to $85 million.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 - Results of Operations and Financial Condition
On May 5, 2026, Standard BioTools Inc. issued a press release which included information with respect to certain financial results for the three months ended March 31, 2026. The press release is attached hereto as Exhibit 99.1.
The information set forth in the press release, except for the information set forth under the headings “Full Year 2026 Revenue Outlook” and “About Standard BioTools Inc.”, together with the forward-looking statement disclaimer, is incorporated by reference into this Item 2.02 of this Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure
The information set forth under the headings “Full Year 2026 Revenue Outlook” and “About Standard BioTools Inc.”, together with the forward-looking statement disclaimer, is incorporated by reference into this Item 7.01 of this Current Report on Form 8-K.
Item 9.01 - Financial Statements and Exhibits
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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Press release issued by Standard BioTools Inc., dated May 5, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
The information in Item 2.02 and Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: |
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May 5, 2026 |
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STANDARD BIOTOOLS INC. |
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By: |
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/s/ Alex Kim |
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Name: |
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Alex Kim |
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Title: |
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Chief Financial Officer |
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Exhibit 99.1
Standard BioTools Reports First Quarter 2026 Financial Results
BOSTON, Mass., May 5, 2026 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced financial results for the quarter ended March 31, 2026.
Recent Highlights:
“We delivered a strong start to 2026, with first quarter performance coming in above expectations,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. “We are operating our base business with consistency, delivering year-over-year top-line growth, and our cost savings initiatives are taking hold with a 78% improvement in adjusted EBITDA to a loss of $3.1 million in the quarter, reinforcing our path to profitability in 2026.”
Dr. Egholm continued, “With the sale of SomaLogic to Illumina complete, we are fully focused on strategic capital deployment to transform the business. Our strong balance sheet, with approximately $550 million in cash and investments inclusive of a $25 million earnout received after quarter end, provides substantial flexibility to pursue attractive opportunities and create shareholder value.”
Financial Results Table: Continuing Operations
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As Reported |
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Three Months Ended |
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Three Months Ended |
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(Unaudited, in millions, except percentages) |
March 31, 2026 |
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March 31, 2025 |
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Revenue |
$ |
21.1 |
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$ |
20.2 |
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Gross margin |
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53.5 |
% |
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54.6 |
% |
Non-GAAP gross margin |
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57.7 |
% |
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57.1 |
% |
Operating expenses |
$ |
23.8 |
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$ |
38.0 |
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Non-GAAP operating expenses |
$ |
15.3 |
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$ |
25.6 |
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Operating loss |
$ |
(12.5 |
) |
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$ |
(27.0 |
) |
Net loss from continuing operations |
$ |
(14.6 |
) |
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$ |
(23.4 |
) |
Adjusted EBITDA |
$ |
(3.1 |
) |
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$ |
(14.1 |
) |
Cash, cash equivalents, restricted cash, and liquid investments |
$ |
523.6 |
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$ |
260.7 |
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First Quarter 2026 Financial Results: Continuing Operations
Full Year 2026 Revenue Outlook
For fiscal year 2026, the Company continues to expect revenue in the range of $80 million to $85 million.
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 financial measures 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 the full year 2026 revenue outlook; the Company’s beliefs about future profitability; operational and strategic plans; deployment of capital; market and growth opportunity and potential; and the potential to realize the expected benefits from the transaction with Illumina and 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, the potential that the expected benefits and opportunities of the transaction may not be realized or may take longer to realize than expected; risks that the anticipated benefits and
synergies resulting from 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; 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; existing and potential future NIH funding pressures; the effect from existing and potential future U.S. export controls and 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, 2025, filed with the SEC on March 16, 2026, the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2026, to be filed with the SEC, 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), is committed to setting the new standard in the life science tools industry through strategic consolidation, best-in-class operations and a world class management team. The Company's established portfolio includes essential, standardized next-generation solutions designed to help biomedical researchers develop better therapeutics faster. 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. ©2026 Standard BioTools Inc. (f.k.a. Fluidigm Corporation). All rights reserved.
Investor Contact:
ir@standardbio.com
STANDARD BIOTOOLS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Revenue: |
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Product revenue |
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$ |
15,454 |
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$ |
14,781 |
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Services and other revenue |
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5,692 |
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5,441 |
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Total revenue |
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21,146 |
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20,222 |
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Cost of revenue: |
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Cost of product revenue |
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7,706 |
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6,431 |
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Cost of services and other revenue |
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2,132 |
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2,742 |
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Total cost of revenue |
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9,838 |
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9,173 |
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Gross profit |
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11,308 |
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11,049 |
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Operating expenses: |
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Research and development |
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2,117 |
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5,440 |
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Selling, general and administrative |
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18,607 |
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29,824 |
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Restructuring and related charges |
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3,080 |
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1,552 |
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Transaction and integration expenses |
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- |
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1,203 |
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Total operating expenses |
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23,804 |
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38,019 |
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Loss from operations |
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(12,496 |
) |
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(26,970 |
) |
Interest income, net |
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3,511 |
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2,914 |
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Other (expense) income, net |
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(5,630 |
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567 |
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Loss before income taxes |
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(14,615 |
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(23,489 |
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Income tax (expense) benefit |
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(11 |
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119 |
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Net loss from continuing operations |
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(14,626 |
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(23,370 |
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Discontinued operations: |
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Income (loss) from discontinued operations, net of tax |
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141,694 |
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(2,663 |
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Net income (loss) |
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$ |
127,068 |
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$ |
(26,033 |
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Net loss per share from continuing operations |
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$ |
(0.04 |
) |
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$ |
(0.06 |
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Net income (loss) per share from discontinued operations |
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$ |
0.37 |
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$ |
(0.01 |
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Net income (loss) per share |
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$ |
0.33 |
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$ |
(0.07 |
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Shares used in computing net income (loss) per share attributable to common stockholders |
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388,202 |
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378,228 |
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STANDARD BIOTOOLS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
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March 31, |
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December 31, |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
265,772 |
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$ |
120,863 |
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Short-term investments |
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189,404 |
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66,712 |
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Accounts receivable, net |
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16,637 |
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13,431 |
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Inventory |
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18,594 |
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19,981 |
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Prepaid expenses and other current assets |
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6,046 |
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4,871 |
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Contingent consideration receivable |
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25,000 |
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— |
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Current assets held for sale |
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— |
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228,406 |
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Total current assets |
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521,453 |
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454,264 |
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Property and equipment, net |
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17,103 |
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19,275 |
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Operating lease right-of-use asset, net |
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25,545 |
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26,732 |
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Other non-current assets |
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3,386 |
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3,154 |
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Long-term investments |
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71,357 |
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25,701 |
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Deferred tax asset, non-current |
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270 |
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38,628 |
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Total assets |
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$ |
639,114 |
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$ |
567,754 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
8,007 |
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$ |
5,407 |
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Accrued liabilities |
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15,684 |
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29,783 |
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Operating lease liabilities, current |
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5,540 |
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5,490 |
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Deferred revenue, current |
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9,981 |
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38,949 |
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Deferred grant income, current |
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2,991 |
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3,046 |
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Current liabilities held for sale |
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— |
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25,633 |
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Total current liabilities |
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42,203 |
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108,308 |
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Convertible notes, non-current |
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299 |
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299 |
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Deferred tax liability |
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823 |
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810 |
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Operating lease liabilities, non-current |
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23,652 |
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25,038 |
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Deferred revenue, non-current |
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3,013 |
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3,503 |
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Deferred grant income, non-current |
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3,557 |
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4,290 |
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Other non-current liabilities |
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4,444 |
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1,215 |
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Total liabilities |
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77,991 |
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143,463 |
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Total stockholders’ equity |
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561,123 |
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424,291 |
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Total liabilities and stockholders’ equity |
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$ |
639,114 |
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$ |
567,754 |
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STANDARD BIOTOOLS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Continuing and Discontinued Operations
(In thousands)
(Unaudited)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Operating activities |
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Net income (loss) |
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$ |
127,068 |
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$ |
(26,033 |
) |
Gain on sale of business |
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(172,289 |
) |
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— |
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Stock-based compensation expense |
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8,824 |
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9,009 |
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Amortization of acquired intangible assets |
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— |
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|
898 |
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Depreciation and amortization |
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1,408 |
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3,273 |
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Accretion of discount on short-term investments, net |
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(632 |
) |
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(841 |
) |
Unrealized loss on equity investments |
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3,494 |
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— |
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Non-cash lease expense |
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1,355 |
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1,438 |
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Provision for excess and obsolete inventory |
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|
696 |
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|
815 |
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Change in fair value of warrants |
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— |
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(232 |
) |
Change in fair value of contingent consideration |
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— |
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(3,400 |
) |
Other non-cash items |
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67 |
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|
385 |
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Changes in assets and liabilities, net |
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(16,588 |
) |
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(15,595 |
) |
Net cash used in operating activities |
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(46,597 |
) |
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(30,283 |
) |
Investing activities |
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Cash received for sale of business, net |
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363,222 |
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— |
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Purchases of short-term marketable debt securities |
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(127,208 |
) |
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(32,321 |
) |
Purchases of long-term marketable debt securities |
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(58,517 |
) |
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— |
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Purchases of marketable equity securities |
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(837 |
) |
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— |
|
Proceeds from sales and maturities of investments |
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|
15,000 |
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|
52,000 |
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Purchases of property and equipment |
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(570 |
) |
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|
(5,054 |
) |
Net cash provided by (used in) investing activities |
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191,090 |
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|
14,625 |
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Financing activities |
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Payments for taxes related to net share settlement of equity awards and other |
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(118 |
) |
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(46 |
) |
Proceeds from exercise of stock options |
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|
78 |
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|
0 |
|
Net cash provided by (used in) financing activities |
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(40 |
) |
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(46 |
) |
Effect of foreign exchange rate fluctuations on cash and cash equivalents |
|
|
115 |
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|
|
357 |
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
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|
144,568 |
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(15,347 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
|
123,296 |
|
|
|
168,818 |
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Cash, cash equivalents and restricted cash at end of period |
|
$ |
267,864 |
|
|
$ |
153,471 |
|
Cash, cash equivalents, and restricted cash consists of: |
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Cash and cash equivalents |
|
$ |
265,772 |
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$ |
150,880 |
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Restricted cash |
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|
2,092 |
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|
2,591 |
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Total cash, cash equivalents and restricted cash |
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$ |
267,864 |
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$ |
153,471 |
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STANDARD BIOTOOLS INC.
REVENUE
Continuing Operations
(In thousands)
(Unaudited)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Product revenue: |
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Instruments |
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$ |
4,470 |
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$ |
6,646 |
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Consumables |
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10,984 |
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|
8,135 |
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Total product revenue |
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15,454 |
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|
14,781 |
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Services and other revenue |
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|
5,692 |
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|
|
5,441 |
|
Total revenue |
|
$ |
21,146 |
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|
$ |
20,222 |
|
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 March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Gross profit |
|
$ |
11,308 |
|
|
$ |
11,049 |
|
Amortization of acquired intangible assets |
|
|
— |
|
|
|
— |
|
Depreciation and amortization |
|
|
346 |
|
|
|
263 |
|
Stock-based compensation expense |
|
|
541 |
|
|
|
242 |
|
Non-GAAP gross profit |
|
$ |
12,195 |
|
|
$ |
11,554 |
|
|
|
|
|
|
|
|
||
Gross margin percentage |
|
|
53.5 |
% |
|
|
54.6 |
% |
Amortization of acquired intangible assets |
|
|
— |
|
|
|
— |
|
Depreciation and amortization |
|
|
1.6 |
% |
|
|
1.3 |
% |
Stock-based compensation expense |
|
|
2.6 |
% |
|
|
1.2 |
% |
Non-GAAP gross margin percentage |
|
|
57.7 |
% |
|
|
57.1 |
% |
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 March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Operating expenses |
|
$ |
23,804 |
|
|
$ |
38,019 |
|
Restructuring and related charges |
|
|
(3,080 |
) |
|
|
(1,552 |
) |
Transaction and integration expenses |
|
|
- |
|
|
|
(1,203 |
) |
Stock-based compensation expense |
|
|
(4,460 |
) |
|
|
(7,807 |
) |
Depreciation and amortization |
|
|
(1,016 |
) |
|
|
(1,826 |
) |
Gain on disposal of property and equipment |
|
|
34 |
|
|
|
— |
|
Non-GAAP operating expenses |
|
$ |
15,282 |
|
|
$ |
25,631 |
|
|
|
|
|
|
|
|
||
R&D operating expenses |
|
$ |
2,117 |
|
|
$ |
5,440 |
|
Stock-based compensation expense |
|
|
(162 |
) |
|
|
(339 |
) |
Depreciation and amortization |
|
|
(168 |
) |
|
|
(139 |
) |
Gain on disposal of property and equipment |
|
|
- |
|
|
|
(28 |
) |
Non-GAAP R&D operating expenses |
|
$ |
1,787 |
|
|
$ |
4,934 |
|
|
|
|
|
|
|
|
||
SG&A operating expenses |
|
$ |
18,607 |
|
|
$ |
29,824 |
|
Stock-based compensation expense |
|
|
(4,298 |
) |
|
|
(7,468 |
) |
Depreciation and amortization |
|
|
(848 |
) |
|
|
(1,687 |
) |
Gain on disposal of property and equipment |
|
|
34 |
|
|
|
28 |
|
Non-GAAP SG&A operating expenses |
|
$ |
13,495 |
|
|
$ |
20,697 |
|
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 March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Net loss from continuing operations |
|
$ |
(14,626 |
) |
|
$ |
(23,370 |
) |
Income tax (benefit) expense |
|
|
11 |
|
|
|
(119 |
) |
Interest income, net |
|
|
(3,511 |
) |
|
|
(2,914 |
) |
Depreciation and amortization |
|
|
1,362 |
|
|
|
2,089 |
|
Restructuring and related charges |
|
|
3,080 |
|
|
|
1,552 |
|
Transaction and integration expenses |
|
|
— |
|
|
|
1,203 |
|
Stock-based compensation expense |
|
|
5,001 |
|
|
|
8,049 |
|
Gain on disposal of property and equipment |
|
|
(34 |
) |
|
|
— |
|
Other non-operating expense (income) |
|
|
5,630 |
|
|
|
(567 |
) |
Adjusted EBITDA |
|
$ |
(3,087 |
) |
|
$ |
(14,077 |
) |