Akoya Biosciences(AKYA) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for the first quarter of 2025 was $16.6 million, a decrease of 9.8% compared to $18.4 million in the prior year period[5] - Gross margin improved to 59.3% in the first quarter of 2025, up from 45.7% in the prior year period[5] - Operating expenses decreased by 22.3% to $23.3 million in the first quarter of 2025, compared to $30.0 million in the prior year period[5] - Operating loss was $13.4 million for the first quarter of 2025, an improvement of 37.9% from $21.6 million in the prior year period[5] - Net cash used in operating activities decreased to $7.2 million in the first quarter of 2025, down from $20.8 million in the prior year period[5] - Cash, cash equivalents, and marketable securities totaled $27.5 million as of March 31, 2025[5] Business Growth - The installed base at the end of the quarter was 1,359 instruments, a year-over-year increase of 12.0%[9] - Total publications citing Akoya's technology reached 1,891, a year-over-year increase of 44.7% compared to 1,307 in the prior year period[9] Strategic Initiatives - Akoya announced the selection of PhenoCycler-Fusion for a landmark Cancer Grand Challenges-funded study aimed at addressing cancer inequities[5] - Akoya will not be providing forward-looking guidance due to the pending acquisition by Quanterix Corporation[6]