Product Revenue IncreaseProduct revenue, excluding related party revenue, increased by 7.1% year-over-year, driven by higher sales of consumable kits.
Service Revenue GrowthService revenue grew 46% year-over-year to $682K, surpassing expectations and indicating strong business momentum.
Strong Financial PositionWith approximately $344M in cash and equivalents on the balance sheet and a negative enterprise value, the company's financial position offers a favorable risk/reward scenario.