Olink Holding Ab Sponsored Adr (OLK) has released an update.
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Olink Holding AB reported a modest 5% year-over-year revenue growth in Q1 2024, reaching $28.8 million, primarily driven by its strong kit business, which saw a 30% increase. Despite this, the company experienced a net loss of $16.1 million and a decrease in adjusted EBITDA to $(15.5) million, compared to the previous year’s figures. The financial update comes amid a pending acquisition by Thermo Fisher Scientific, expected to close by mid-2024.
For further insights into OLK stock, check out TipRanks’ Stock Analysis page.
