Standard BioTools ( (LAB) ) has shared an announcement.
Standard BioTools reported its financial results for the fourth quarter and full year 2024, highlighting a pro forma combined revenue of $175.1 million, a 9% decrease year-over-year. The company achieved significant operational cost reductions totaling $90 million in synergies over 12 months, and improved its adjusted EBITDA by 33% year-over-year. Despite a net loss of $34.1 million in Q4 2024, the company has a strong balance sheet with $295 million in cash and no material debt, positioning it for future growth and strategic acquisitions. Looking forward, Standard BioTools aims to focus on higher-margin offerings and capitalize on a billion-dollar opportunity in the proteomics market with its upcoming NGS-based solution in partnership with Illumina.
More about Standard BioTools
Standard BioTools Inc. operates in the biotechnology industry, focusing on providing tools and solutions for proteomics and genomics research. The company is known for its innovative products, including assay kits and instruments, and collaborates with partners like Illumina to enhance its market offerings.
YTD Price Performance: -28.00%
Average Trading Volume: 1,666,029
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $469M
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