Strong Financial Position with Approximately $18.1 Million Cash to Support Strategic Growth InitiativesTORONTO, April 04, 2025 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | OTCQB: NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to provide an update on the Company’s strategic progress, including its ongoing efforts to secure a significant gold project, as well as recent developments concerning its New Found Gold holdings. Project Acquisition Update As part of its growth strategy, Labrador G ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________ Commission file number: 001-34180 STANDARD BIOTOOLS INC. (Exact name of registrant as specified in its charte ...

Standard BioTools Inc. (NASDAQ:LAB) Q4 2024 Earnings Conference Call February 26, 2025 4:30 PM ET Company Participants Michael Egholm - President & CEO Alex Kim - Chief Operating Officer & Interim-CFO Conference Call Participants Matt Stanton - Jefferies Kyle Boucher - TD Cowen Paul Knight - KeyBanc Operator Good day, everyone, and welcome to Standard BioTools' Fourth Quarter and Full Year 2024 Financial Results Conference Call. As a reminder, this conference is being recorded. It's now my pleasure to intro ...

Non-GAAP financial information Setting Standards Empowering Research Building Shareholder Value Q4 and 2024 Full Year Financial Results February 26th 2025 Legal Information Forward-looking statements This presentation contains forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact (including statements containing ...

Financial Performance - Standard BioTools reported a revenue of $174 million from two acquisitions, with a path to profitability by 2026[43]. - Q3 2024 total revenue was $45 million, a decrease of 5% year-over-year, with consumables revenue growing by 13% to $14 million[68]. - The company reported a net loss of $27 million for Q3 2024, an improvement of $14 million compared to the previous year[76]. - Instrument revenue declined by 42% year-over-year to $6 million, attributed to continued capital spending constraints[70]. - Collaboration and other revenue increased by 10% year-over-year to $1 million[68]. Operational Efficiency - The company achieved a 32% improvement in adjusted EBITDA year-to-date Q3 2024, with a 98% on-time delivery rate in Q4 2024 compared to 78% in Q4 2022[27]. - Non-GAAP operating expenses were reduced by 17% year-over-year from 2022 to 2023, contributing to a 53% decrease in cash use[33]. - Operating expenses for Q3 2024 were reduced by 24% year-over-year to $40 million, representing 89% of revenue[74]. - Standard BioTools has reduced customer complaints by fourfold and improved delivery reliability through lean transformation initiatives[43]. - The company is focused on increasing ROI and diversifying risk while maintaining operational efficiency[64]. Market Strategy - Standard BioTools is focusing on expanding its service offerings to increase technology adoption in the biopharma market, which is estimated at $13 billion[13]. - The company aims to transition to an 80% consumable and services mix, enhancing its revenue stability[43]. - The product mix is shifting towards higher-margin consumables, targeting an increase from 53% to 65% gross margin by Q3[13]. - The proteomics market is projected to grow at a CAGR of 14.9%, with a total addressable market of $110 billion by 2032[50]. Mergers and Acquisitions - The merger with SomaLogic is expected to generate $250 million in EBITDA synergies by FY 2026[35]. - The company has a net cash position of $311 million as of Q3 2024, enabling future M&A activities[39]. Research and Development Expenses - GAAP R&D expenses for Q3 YTD 2024 were $48.4 million, compared to $19.0 million in Q3 YTD 2023, reflecting a significant increase[88]. - Non-GAAP R&D expenses for Q3 YTD 2024 were $41.3 million, up from $17.4 million in Q3 YTD 2023, indicating a growth of approximately 137%[88]. - Stock-based compensation in R&D for Q3 YTD 2024 was $4.5 million, consistent with the previous year[88]. - Depreciation and amortization in R&D for Q3 YTD 2024 was $2.6 million, consistent with the previous year[88]. Selling, General and Administrative Expenses - GAAP SG&A expenses for Q3 YTD 2024 reached $119.0 million, compared to $66.2 million in Q3 YTD 2023, representing an increase of about 80%[88]. - Non-GAAP SG&A expenses for Q3 YTD 2024 were $95.9 million, up from $56.9 million in Q3 YTD 2023, showing an increase of approximately 68%[88]. - Stock-based compensation in SG&A for Q3 YTD 2024 was $18.9 million, compared to $7.8 million in Q3 YTD 2023, reflecting a growth of about 142%[88]. - Depreciation and amortization in SG&A for Q3 YTD 2024 was $3.3 million, unchanged from the previous year[88]. - Loss on disposal of PP&E in SG&A for Q3 YTD 2024 was $0.4 million, compared to $0.1 million in Q3 YTD 2023[88]. Cash Position - Cash and equivalents at September 30, 2024, totaled $368 million, supporting ongoing growth initiatives[83]. - Market capitalization as of September 30, 2024, was $718 million, with an enterprise value of $350 million[83].

Core Insights - Standard BioTools Inc. reported financial results for Q4 and the fiscal year 2024, highlighting a year of execution and integration despite economic challenges [3][4] - The company achieved revenue of $174.4 million for the full year 2024, a decrease of 9% year-over-year, while Q4 revenue was $46.7 million, also down 9% year-over-year [4][11] - The company exceeded its cost synergy target by $10 million, achieving a total of $90 million in synergies within 12 months [3][6] Financial Performance - Full year 2024 pro forma combined revenue was $175.1 million, with a 17% reduction in pro forma operating loss and a 33% improvement in adjusted EBITDA year-over-year [6][10] - Q4 2024 gross margin was 46.9%, slightly up from 46.7% in Q4 2023, while non-GAAP gross margin was 52.5%, down from 55.4% [11][28] - Operating expenses for Q4 2024 were $54.7 million, a decrease of 39% compared to Q4 2023, and non-GAAP operating expenses were $42.9 million, down 24% [11][30] Revenue Breakdown - Consumables revenue for Q4 2024 was $14.7 million, up 10% year-over-year, driven by assay kits sales [11] - Instruments revenue for Q4 2024 was $8.5 million, down 25% year-over-year, affected by capital constraints in end-markets [11] - Services revenue, including Lab and Field Services, was $21.6 million in Q4 2024, down 16% year-over-year [11] Future Outlook - For fiscal year 2025, the company expects revenue in the range of $165 million to $175 million, anticipating a decline in Americas academic revenue due to NIH funding pressures [12] - The company aims to shift towards higher-margin offerings and leverage partnerships, particularly with Illumina, to tap into a billion-dollar market opportunity [3][12]

Core Viewpoint - Labrador Gold Corp. has approved its 2025 exploration programs for the Hopedale and Borden Lake gold projects, focusing on identifying and refining drill targets in these underexplored areas [1][8]. Hopedale Project - The Hopedale property spans a 43 km strike length of the Florence Lake greenstone belt, which has been underexplored compared to similar global greenstone belts [2][15]. - Recent exploration has identified 11 significant mineral occurrences, including five gold occurrences, three nickel occurrences, two copper-silver occurrences, and one zinc-copper occurrence [2]. - The 2025 program will concentrate on the Thurber gold trend, which includes four significant gold occurrences over a 3 km strike length, with plans for an induced polarization/resistivity survey to refine drill targets [3]. - Additional prospecting and mapping will be conducted over electromagnetic conductors identified in 2024, particularly at the Jasmine Zn-Cu and Misery North Ni-Cu occurrences [4]. Borden Lake Project - The Borden Lake project is located near Chapleau, Ontario, adjacent to the Borden gold mine, which is currently being acquired by Discovery Silver Corp. from Newmont Corporation [5][16]. - Past exploration has revealed two anomalous zones based on geochemistry, with one zone extending over 1.3 km and another over 1 km, alongside chargeability anomalies identified through IP/resistivity surveys [6][16]. - The 2025 exploration will include prospecting and a biogeochemical survey covering approximately 27 line kilometers in the northernmost part of the property, utilizing biogeochemistry due to extensive glacial sand cover [7]. Project Acquisition Update - The company is actively seeking to acquire projects with significant resources, having reviewed over 40 Canadian-based projects and narrowed down potential candidates [8]. - With approximately $19.6 million in cash and marketable securities, the company is well-positioned to acquire and advance a significant project [8][14].

Core Viewpoint - Standard BioTools Inc. is set to report its fourth quarter and full year 2024 financial results on February 26, 2025, after market close, followed by a conference call to discuss these results and operational progress [1][2]. Company Overview - Standard BioTools Inc. (Nasdaq: LAB) offers a portfolio of next-generation technologies aimed at accelerating biomedical research and improving patient outcomes. The company utilizes proprietary technologies such as SomaScan, mass cytometry, and microfluidics [3]. - The company collaborates with various sectors including academic, government, pharmaceutical, biotechnology, and clinical laboratories, focusing on critical areas in translational and clinical research like oncology, immunology, and immunotherapy [3].

Project Highlights - Prospecting along the Thurber gold trend in 2024 revealed significant potential, with the highest-grade sample of 32.32g/t Au found at Thurber North, and anomalous samples of 0.96g/t Au and 0.5g/t Au collected nearby [2] - Ground electromagnetics identified three conductors at the Jasmine and Misery North occurrences, with a 400m long conductor adjacent to a sample grading 0.97% Zn and 0.25% Cu within a 1.5km trend of anomalous Cu-Zn [3] - Anomalous gold was found at the Thurber Boundary area, with soil samples up to 1,568 ppb Au and rock samples up to 0.75 g/t Au, indicating potential to extend the Thurber gold trend [9] - High-grade gold of 9.35g/t and anomalous values of 0.3g/t and 0.19g/t Au with 10.8g/t Ag were found near the Fire Ant occurrence, with gold mineralization traced over an area of 250m by 270m [10] Exploration and Discoveries - The Hopedale project identified 14 occurrences of critical metals (Cu, Ni, Zn) and gold, reflecting multiple mineralization styles including orogenic gold, magmatic Ni sulphide, copper-silver vein, and Zn-rich volcanogenic massive sulphide [15] - The Thurber gold trend is defined by four significant gold occurrences, two of which are drill-ready, surrounded by anomalous gold in rock and soil samples [16] - The Hopedale property covers a significant portion of the Florence Lake greenstone belt, with gold anomalies identified over a 3km section and potential for critical metals copper, nickel, and zinc [20] Corporate Actions and Strategy - The company completed the sale of the Kingsway project to New Found Gold in July 2024, following four years of exploration that resulted in the discovery of seven gold occurrences from nine drill-tested targets [8] - The company granted 3,050,000 stock options to officers, directors, and consultants, with a vesting schedule of 25% on grant and additional 25% increments at 6, 12, and 18 months [5] - The company plans to acquire a project with a significant resource in 2025, leveraging its strong balance sheet to advance exploration at Hopedale and other properties [17][18] Financial and Operational Details - The company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB [7] - Labrador Gold has approximately $7.7 million in cash and focuses on acquiring and exploring prospective gold projects in Eastern Canada [13] - The company received financial support from the Newfoundland and Labrador Ministry of Natural Resources' 2023 Junior Exploration Assistance Program and the Atlantic Canada Opportunities Agency's Critical Minerals Assistance for the Hopedale property [6]

Core Insights - Standard BioTools Inc. announced preliminary and unaudited revenue results for the fourth quarter and full year 2024, expecting approximately $46.5 million for Q4 and $174 million for the full year [2][3] - The CEO highlighted the company's efforts to meet revised annual guidance despite industry challenges and emphasized ongoing improvements in operational efficiency through the implementation of Standard BioTools Business Systems [2][3] - The company aims to leverage its foundation for growth in 2025, focusing on high-margin offerings and attractive end markets, while planning to report detailed financial results later this quarter [2][3] Financial Performance - Preliminary revenue for the full year 2024 is approximately $174 million, with Q4 revenue expected to be around $46.5 million [2][3] - The company has made significant progress in reducing operating expenses, indicating a commitment to continuous improvement and efficiency [2][3] Strategic Outlook - The CEO expressed confidence in the company's strategy for 2025, which includes realizing efficiencies from integration and addressing technical debt from previous acquisitions [2][3] - Standard BioTools is positioned to scale its operations and shift revenues towards more profitable segments, indicating a proactive approach to market opportunities [2][3] Company Overview - Standard BioTools Inc. specializes in next-generation technologies for biomedical research, providing insights that aid in the development of medicines [4] - The company collaborates with various sectors, including academic, government, and pharmaceutical industries, focusing on critical areas such as oncology and immunology [4]