UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34180 STANDARD BIOTOOLS INC. State or other jurisdiction of incorporation or organiz ...

SOUTH SAN FRANCISCO, Calif., November 4, 2025 -- Standard BioTools Inc. (NASDAQ: LAB) (the "Company" or "Standard BioTools") today announced financial results for the quarter ended September 30, 2025. Recent Highlights: "The third quarter marked another period of solid execution as we sharpen our focus and position Standard BioTools for the next stage," said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. "Our commercial team delivered consistent overall performance amid a s ...

SOUTH SAN FRANCISCO, Calif., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced financial results for the quarter ended September 30, 2025. Recent Highlights: Third quarter 2025 total combined company revenue of $46.2 million; Revenue from continuing operations of $19.6 millionImplemented restructuring plan expected to deliver over $40 million in annualized cost savings; On track to achieve positive adjusted EBITDA target in 2026$217 ...

Group 1 - Standard BioTools Inc. will publish its third quarter 2025 financial results on November 4, 2025, after U.S. market close [1] - The company is a leading provider of next-generation technologies that assist biomedical researchers in developing better medicines more efficiently [2] - Standard BioTools utilizes proprietary technologies such as SomaScan, mass cytometry, and microfluidics to provide insights in health and disease [2] Group 2 - The company collaborates with various sectors including academic, government, pharmaceutical, and biotechnology laboratories globally [2] - Focus areas for Standard BioTools include translational and clinical research, particularly in oncology, immunology, and immunotherapy [2]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The H1 2025 financial statements reflect the company's position, operations, and cash flows, with the SomaScan Business reclassified as discontinued, reporting a **$59.5 million** net loss [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets decreased to **$557.0 million**, with SomaScan Business assets and liabilities reclassified as 'held for sale' Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $158,617 | $166,728 | | Short-term investments | $78,468 | $126,146 | | Current assets held for sale | $223,089 | $42,963 | | **Total Assets** | **$556,965** | **$612,345** | | **Liabilities** | | | | Total current liabilities | $98,024 | $65,895 | | **Total Liabilities** | **$132,430** | **$140,623** | | **Total Stockholders' Equity** | **$424,535** | **$471,722** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For H1 2025, total revenue from continuing operations decreased to **$42.0 million**, resulting in a total net loss of **$59.5 million** Statement of Operations Summary (Six Months Ended June 30, in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Total Revenue | $41,984 | $44,145 | | Gross Profit | $21,677 | $21,399 | | Loss from continuing operations | ($52,667) | ($74,705) | | Net loss from continuing operations | ($41,043) | ($41,848) | | Loss from discontinued operations, net of tax | ($18,449) | ($36,027) | | **Net Loss** | **($59,492)** | **($77,875)** | Net Loss Per Share (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Net loss per share from continuing operations | ($0.11) | ($0.26) | | Net loss per share from discontinued operations | ($0.05) | ($0.11) | | **Net loss per share attributable to common stockholders** | **($0.16)** | **($0.37)** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For H1 2025, net cash used in operating activities improved to **$51.0 million**, with overall cash decreasing by **$7.6 million** Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($50,951) | ($101,526) | | Net cash provided by investing activities | $42,130 | $368,331 | | Net cash provided by (used in) financing activities | $62 | ($48,094) | | **Net (decrease) increase in cash** | **($7,614)** | **$218,601** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail significant accounting policies and events, including the SomaScan Business sale to Illumina and its reclassification as discontinued operations - On June 22, 2025, the Company entered into a Stock Purchase Agreement with Illumina to sell its SomaScan Business, which includes SomaLogic and Sengenics[30](index=30&type=chunk) - The SomaScan Business met the criteria for held-for-sale and discontinued operations in Q2 2025, with its results now reported separately for all periods presented[32](index=32&type=chunk) - The company reassessed its operating segments in Q1 2025 and now operates as a single reportable segment, managing the business on a consolidated basis as a multi-omics company[36](index=36&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting the SomaScan Business divestiture, a **5%** revenue decrease for continuing operations, and sufficient liquidity of **$237.1 million** [Recent Developments](index=31&type=section&id=Recent%20Developments) The key recent development is the June 22, 2025 agreement to sell the SomaScan Business to Illumina for up to **$425 million** in cash consideration - Standard BioTools agreed to sell its SomaScan Business (SomaLogic and Sengenics subsidiaries) to Illumina[111](index=111&type=chunk) Illumina Transaction Terms | Component | Amount/Details | | :--- | :--- | | Upfront Cash Payment | $350 million | | Earnout Payments | Up to $75 million (based on 2025-2026 revenue targets) | | Additional Consideration | Royalty and license agreements for SOMAmer-based products | | Expected Closing | First half of 2026 | [Results of Operations](index=36&type=section&id=Results%20of%20Operations) For H1 2025, revenue from continuing operations decreased by **5%** to **$42.0 million**, while total operating expenses fell **23%** Revenue from Continuing Operations (Six Months Ended June 30, in thousands) | Category | 2025 | 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Instruments | $11,861 | $11,950 | ($89) | (1)% | | Consumables | $18,593 | $19,258 | ($665) | (3)% | | Services and other | $11,530 | $12,937 | ($1,407) | (11)% | | **Total Revenue** | **$41,984** | **$44,145** | **($2,161)** | **(5)%** | Operating Expenses from Continuing Operations (Six Months Ended June 30, in thousands) | Category | 2025 | 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $11,662 | $14,852 | ($3,190) | (21)% | | Selling, general and administrative | $57,929 | $51,274 | $6,655 | 13% | | Restructuring and related charges | $3,279 | $10,033 | ($6,754) | (67)% | | Transaction and integration expenses | $1,474 | $19,945 | ($18,471) | (93)% | | **Total Operating Expenses** | **$74,344** | **$96,104** | **($21,760)** | **(23)%** | - The loss from discontinued operations decreased by **49%** for the six months ended June 30, 2025, primarily due to cost reductions from restructuring activities completed in 2024[151](index=151&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company had **$237.1 million** in liquidity and an accumulated deficit of **$1.25 billion**, with improved operating cash flow - As of June 30, 2025, the company had **$237.1 million** in cash, cash equivalents, and short-term investments[155](index=155&type=chunk) - The company has an accumulated deficit of **$1.245 billion** as of June 30, 2025, and has historically funded operations through equity offerings, loans, and preferred stock[152](index=152&type=chunk) Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($50,951) | ($101,526) | | Net cash provided by investing activities | $42,130 | $368,331 | | Net cash provided by (used in) financing activities | $62 | ($48,094) | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from interest rates and foreign currency, recognizing a **$5.5 million** foreign currency exchange gain in H1 2025 - Primary market risks include interest rate fluctuations on cash and investments, and foreign currency risk from international operations[166](index=166&type=chunk)[167](index=167&type=chunk)[168](index=168&type=chunk) - The company recognized a **$5.5 million** foreign currency exchange gain in the first six months of 2025 due to favorable rate changes[168](index=168&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The CEO and CFO concluded that as of June 30, 2025, the company's disclosure controls and procedures were effective at the reasonable assurance level[171](index=171&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[172](index=172&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings, detailed in Note 6, but does not anticipate a material adverse effect from pending matters - Information regarding legal proceedings is detailed in Note 6 of the financial statements[175](index=175&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) Risks relate to the pending SomaScan Business divestiture to Illumina, including transaction consummation, business disruption, and benefit realization - There is no assurance that the proposed sale of the SomaScan Business to Illumina will be consummated, which could adversely affect the company's stock price and business[178](index=178&type=chunk)[179](index=179&type=chunk) - The announcement and pendency of the Illumina transaction could disrupt business by causing employee uncertainty, diverting management attention, and affecting relationships with vendors and suppliers[179](index=179&type=chunk)[181](index=181&type=chunk) - The company may be unable to fully realize the expected benefits, such as substantial operating and capital cost savings, from the transaction[180](index=180&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity sales or common stock repurchases occurred under the **$50.0 million** program during the quarter, with **$9.5 million** remaining - No shares of common stock were repurchased during the three months ended June 30, 2025[185](index=185&type=chunk) - As of June 30, 2025, the company has repurchased an aggregate of **$40.5 million** of its common stock under the **$50.0 million** 2024 Share Repurchase Program[185](index=185&type=chunk) [Item 5. Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No officers or directors adopted, modified, or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter - No officers or directors adopted, modified, or terminated any 10b5-1 trading arrangements during the quarter[188](index=188&type=chunk)

Group 1: Financial Performance - Standard BioTools reported a quarterly loss of $0.04 per share, consistent with the Zacks Consensus Estimate, compared to a loss of $0.08 per share a year ago [1] - The company posted revenues of $41.96 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 5.35%, and up from $37.21 million year-over-year [2] - The current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $40.7 million, and for the current fiscal year, it is -$0.14 on revenues of $169.3 million [7] Group 2: Market Performance - Standard BioTools shares have declined approximately 25.4% since the beginning of the year, while the S&P 500 has gained 8.6% [3] - The company has surpassed consensus revenue estimates three times over the last four quarters, but has only exceeded consensus EPS estimates once in the same period [2][1] Group 3: Industry Outlook - The Medical Info Systems industry, to which Standard BioTools belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]

[Overview and Strategic Highlights](index=1&type=section&id=Standard%20BioTools%20Reports%20Second%20Quarter%202025%20Financial%20Results) [Recent Highlights and CEO Commentary](index=1&type=section&id=Recent%20Highlights) The company announced the strategic sale of SomaLogic to Illumina, strengthening its balance sheet to pursue inorganic growth and a 2026 profitability target - Announced the strategic sale of SomaLogic to Illumina for up to **$425 million** in total cash consideration, plus potential future royalties[5](index=5&type=chunk) - The company expects to have at least **$550 million in cash** and cash equivalents upon closing the Illumina transaction, which will be used to fuel its inorganic growth strategy[3](index=3&type=chunk)[5](index=5&type=chunk) - Management is driving toward a profitability target, aiming for **adjusted EBITDA break-even in 2026**[3](index=3&type=chunk)[5](index=5&type=chunk) - CEO Michael Egholm stated the company is positioned to **"continue playing offense"** by strategically deploying capital into high-quality, underappreciated assets to drive scale and growth[3](index=3&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) [Financial Highlights (Continuing Operations)](index=1&type=section&id=Financial%20Results%20Table%3A%20Continuing%20Operations) Q2 2025 continuing operations revenue was $21.8 million, with improved non-GAAP gross margin and a narrower operating loss Q2 & H1 2025 Financial Summary (Continuing Operations) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $21.8M | $22.5M | $42.0M | $44.1M | | Gross Margin | 48.8% | 46.1% | 51.6% | 48.5% | | Non-GAAP Gross Margin | 54.1% | 48.6% | 55.6% | 54.1% | | Operating Loss | $(25.7)M | $(30.3)M | $(52.7)M | $(74.7)M | | Net Loss from Continuing Operations | $(17.7)M | $(25.4)M | $(41.0)M | $(41.8)M | | Adjusted EBITDA | $(16.1)M | $(17.4)M | $(30.2)M | $(34.3)M | | Cash, Cash Equivalents, & Short-term Investments | $239.7M | $397.2M | $239.7M | $397.2M | [Detailed Financial Results (Continuing Operations)](index=2&type=section&id=Second%20Quarter%202025%20Financial%20Results%3A%20Continuing%20Operations) Q2 2025 revenue from continuing operations decreased 3% to $21.8 million, driven by lower instrument sales, though margins and net loss improved Q2 2025 Revenue Breakdown (Continuing Operations) | Revenue Stream | Q2 2025 | YoY Change | | :--- | :--- | :--- | | Consumables | $10.5M | +18% | | Instruments | $5.2M | -26% | | Services | $6.1M | -8% | | **Total Revenue** | **$21.8M** | **-3%** | - Gross margins improved to **48.8% (54.1% non-GAAP)** in Q2 2025 from 46.1% (48.6% non-GAAP) in Q2 2024, driven by favorable product mix and improvements from the Standard BioTools Business System (SBS)[9](index=9&type=chunk) - Operating expenses **decreased by 11% YoY** to $36.3 million, attributed to the realization of merger cost synergies and continued productivity gains[9](index=9&type=chunk) - Net loss from continuing operations **improved by 31%** to $17.7 million in Q2 2025, compared to a net loss of $25.4 million in Q2 2024[9](index=9&type=chunk) [Full Year 2025 Revenue Outlook](index=2&type=section&id=Full%20Year%202025%20Revenue%20Outlook) The company forecasts full-year 2025 combined revenue of $165-$175 million and continuing operations revenue of $78-$83 million Fiscal Year 2025 Revenue Guidance | Revenue Category | FY 2025 Outlook | | :--- | :--- | | Combined Revenue | $165M - $175M | | Revenue from Continuing Operations | $78M - $83M | - The outlook assumes a high single-digit millions decline in Americas academic revenue due to anticipated NIH funding pressures, with a more pronounced impact on continuing operations[7](index=7&type=chunk) [Discontinued Operations Performance (SomaLogic)](index=12&type=section&id=Condensed%20Results%20of%20Operations%20Discontinued%20Operations) The discontinued SomaLogic business generated $20.2 million in revenue for Q2 2025, with its operating loss narrowing to $15.8 million Discontinued Operations Financial Summary | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $20.2M | $14.7M | $40.8M | $38.6M | | Loss from Discontinued Operations | $(15.8)M | $(20.3)M | $(18.4)M | $(36.0)M | [Combined Company Performance](index=16&type=section&id=Condensed%20Combined%20Results%20of%20Operations) On a combined basis, total Q2 2025 revenue grew to $42.0 million, and the total net loss improved to $33.5 million Combined Company Financial Summary | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $42.0M | $37.2M | $82.8M | $82.7M | | Net Loss | $(33.5)M | $(45.7)M | $(59.5)M | $(77.9)M | [Financial Statements](index=5&type=section&id=Financial%20Statements) [Consolidated Statements of Operations (Continuing Operations)](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Continuing operations generated $21.8 million in Q2 2025 revenue, resulting in a net loss of $17.7 million, or ($0.05) per share Q2 2025 Statement of Operations Highlights (Continuing) | Line Item | Q2 2025 (in thousands) | Q2 2024 (in thousands) | | :--- | :--- | :--- | | Total revenue | $21,762 | $22,492 | | Gross profit | $10,628 | $10,374 | | Total operating expenses | $36,325 | $40,635 | | Loss from continuing operations | $(25,697) | $(30,261) | | Net loss from continuing operations | $(17,673) | $(25,444) | | Net loss per share from continuing operations | $(0.05) | $(0.07) | [Consolidated Balance Sheets](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of June 30, 2025, the company held total assets of $557.0 million, including $158.6 million in cash and cash equivalents Balance Sheet Highlights (as of June 30, 2025) | Account | Amount (in thousands) | | :--- | :--- | | **Assets** | | | Cash and cash equivalents | $158,617 | | Short-term investments | $78,468 | | Current assets held for sale | $223,089 | | **Total Assets** | **$556,965** | | **Liabilities & Equity** | | | Total current liabilities | $98,024 | | **Total Liabilities** | **$132,430** | | **Total Stockholders' Equity** | **$424,535** | [Consolidated Statements of Cash Flows](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the first half of 2025, net cash used in operating activities was $51.0 million, resulting in a period-end cash balance of $161.2 million Cash Flow Summary (Six Months Ended June 30, 2025) | Activity | Amount (in thousands) | | :--- | :--- | | Net cash used in operating activities | $(50,951) | | Net cash provided by investing activities | $42,130 | | Net cash provided by financing activities | $62 | | **Net decrease in cash** | **$(7,614)** | | **Cash at end of period** | **$161,204** | [Non-GAAP Reconciliations](index=9&type=section&id=RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20FINANCIAL%20INFORMATION) [Continuing Operations Reconciliations](index=9&type=section&id=Continuing%20Operations%20Reconciliations) For Q2 2025, adjusted EBITDA for continuing operations was a loss of $16.1 million, an improvement from a $17.4 million loss in the prior year Q2 2025 Non-GAAP Reconciliation Highlights (Continuing) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Gross Profit | $10.6M | $11.8M | | Gross Margin | 48.8% | 54.1% | | Operating Expenses | $36.3M | $27.9M | | Adjusted EBITDA | N/A | $(16.1)M | [Discontinued Operations Reconciliations](index=13&type=section&id=Discontinued%20Operations%20Reconciliations) The discontinued SomaLogic operations showed an adjusted EBITDA loss of $2.4 million in Q2 2025, a substantial improvement from a $13.7 million loss in Q2 2024 Q2 2025 Non-GAAP Reconciliation Highlights (Discontinued) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Gross Profit | $8.6M | $10.4M | | Gross Margin | 42.8% | 51.3% | | Operating Expenses | $24.8M | $12.8M | | Adjusted EBITDA | N/A | $(2.4)M | [Combined Company Reconciliations](index=17&type=section&id=Combined%20Company%20Reconciliations) The combined adjusted EBITDA loss for Q2 2025 was $18.6 million, a marked improvement from a $31.0 million loss in the prior-year quarter Q2 2025 Non-GAAP Reconciliation Highlights (Combined) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Gross Profit | $19.3M | $22.1M | | Gross Margin | 45.9% | 52.8% | | Operating Expenses | $61.1M | $40.7M | | Adjusted EBITDA | N/A | $(18.6)M | [Company Information and Disclosures](index=3&type=section&id=Company%20Information%20and%20Disclosures) [Use of Non-GAAP Measures and Forward-Looking Statements](index=3&type=section&id=Use%20of%20Non-GAAP%20Financial%20Information) The company utilizes non-GAAP measures to show core performance and cautions that forward-looking statements are subject to risks and uncertainties - Management uses non-GAAP financial measures to supplement GAAP results, believing they provide useful information by excluding items not indicative of core operating performance[12](index=12&type=chunk) - Forward-looking statements involve risks related to divestitures, acquisitions, integration, cost savings, market conditions, NIH funding pressures, and competition[13](index=13&type=chunk)[14](index=14&type=chunk) [About Standard BioTools Inc.](index=4&type=section&id=About%20Standard%20BioTools%20Inc.) Standard BioTools provides essential technologies like SomaScan and mass cytometry to biomedical researchers, focusing on oncology and immunology - The company's core technologies include SomaScan, mass cytometry, and microfluidics[15](index=15&type=chunk) - Standard BioTools serves a global client base in academic, government, and private research sectors, with a focus on oncology and immunology[15](index=15&type=chunk)

Core Viewpoint - Standard BioTools Inc. reported its second quarter 2025 financial results, highlighting a strategic sale of SomaLogic to Illumina, which is expected to unlock up to $425 million in cash and enhance the company's financial position towards profitability by 2026 [3][6][10]. Financial Performance - Revenue for the second quarter of 2025 was $21.8 million, a decrease of 3% year-over-year, while total revenue for the first half of 2025 was $42 million, down 5% year-over-year [4][7]. - Consumables revenue increased by 18% year-over-year to $10.5 million in the second quarter, although total consumables revenue for the first half decreased by 3% to $18.6 million [7][21]. - Instruments revenue fell by 26% year-over-year to $5.2 million in the second quarter, with a slight decrease of 1% to $11.9 million for the first half [13][21]. - Services revenue was $6.1 million in the second quarter, down 8% year-over-year, and $11.5 million for the first half, down 11% year-over-year [13][21]. Gross Margin and Operating Expenses - Gross margin for the second quarter of 2025 was approximately 48.8%, compared to 46.1% in the same quarter of 2024, while non-GAAP gross margin was 54.1%, up from 48.6% [13][22]. - Operating expenses decreased by 11% year-over-year to $36.3 million in the second quarter, with non-GAAP operating expenses down by 1% to $27.9 million [13][23]. - The company achieved a net loss of $17.7 million in the second quarter, an improvement of 31% compared to a net loss of $25.4 million in the same quarter of 2024 [13][25]. Cash Position and Future Outlook - As of June 30, 2025, the company had $239.7 million in cash and cash equivalents, with expectations to reach at least $550 million upon closing the transaction with Illumina [6][19]. - The company is targeting adjusted EBITDA break-even in 2026, supported by a strong balance sheet and a lean operating model [3][6]. Strategic Developments - The sale of SomaLogic is seen as a pivotal milestone for the company, allowing for strategic capital deployment into high-quality assets to drive growth and long-term shareholder value [3][6]. - The company anticipates a high single-digit million decline in Americas academic revenue due to NIH funding pressures, impacting continuing operations more significantly [9]. Revenue Outlook - For fiscal year 2025, the company expects combined revenue in the range of $165 million to $175 million, with revenue from continuing operations projected between $78 million and $83 million [8].

Core Insights - Standard BioTools Inc. announced that the Precision Health Research, Singapore (PRECISE-SG100K) selected the SomaScan™ 11K Assay to analyze 100,000 plasma samples, highlighting its strategic position in the biobank segment and its role in global health initiatives [1][2] Company Overview - Standard BioTools is a leader in population proteomics, with the SomaScan platform being utilized in over 30 biobank studies globally, including three major studies this year totaling nearly 160,000 samples [4] - The company provides essential next-generation technologies that assist biomedical researchers in developing better medicines faster, focusing on oncology, immunology, and immunotherapy [7] Industry Context - The PRECISE-SG100K initiative aims to transform healthcare in Singapore by leveraging data-driven solutions to improve patient outcomes, drawing on a multi-ethnic population and extensive health insights [3][10] - Population proteomics studies are generating new datasets that enhance understanding of protein expression dynamics, revealing insights into gene-to-protein correlations and new therapeutic targets [6]

Company Announcement - Standard BioTools Inc. will report its second quarter 2025 financial results on August 11, 2025, after market close [1] - A conference call and webcast will be held on the same day at 4:30 p.m. ET to discuss the financial results and operational progress [1] Access Information - Individuals can access the conference call by dialing US domestic callers: (888) 346-3970 and outside US callers: (412) 902-4297 [1] - Live audio of the webcast will be available on the Investor Relations page of the company's website and will be archived for later access [2] Company Overview - Standard BioTools Inc. is a leading provider of next-generation technologies that assist biomedical researchers in developing better medicines more efficiently [3] - The company utilizes proprietary technologies such as SomaScan, mass cytometry, and microfluidics to provide insights in health and disease, focusing on oncology, immunology, and immunotherapy [3] - Standard BioTools collaborates with various entities including academic, government, pharmaceutical, and clinical laboratories globally [3]