For 2025, on a standalone basis not giving effect to the planned acquisition of Akoya, the Company expects to report revenues in a range $140.0 million to $146.0 million, which represents growth of 2% to 6% over 2024. This estimate excludes revenue from Lucent Diagnostics testing. The Company expects gross margin to be in the range of 59 to 63%, and adjusted gross margin (non-GAAP) in the range of 53% to 57%. Finally, the Company anticipates 2025 cash usage (change in cash, cash equivalents, marketable securities, and restricted cash) to be approximately $55.0 million to $65.0 million, which includes $20.0 million of upfront payments for the EMISSION acquisition. The estimated cash usage excludes any expenses or payments related to the pending Akoya acquisition.
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