Standard BioTools(US:LAB)2025-11-04 21:10Financial Performance - Total combined company revenue for Q3 2025 was $46.2 million, with revenue from continuing operations at $19.6 million, down 11% year-over-year[6]. - Consumables revenue decreased to $8.7 million, down 17% year-over-year, while instruments revenue was $5.1 million, down 3% year-over-year[8]. - Total revenue for Q3 2025 was $19,552 million, a decrease of 11% compared to $22,086 million in Q3 2024[22]. - Product revenue decreased to $13,800 million in Q3 2025 from $15,779 million in Q3 2024, representing a decline of 12.5%[22]. - Revenue for Q3 2025 was $26,693, an increase of 16% compared to $22,884 in Q3 2024[27]. - Revenue for Q3 2025 was $46,245 million, a 2.8% increase from $44,970 million in Q3 2024[32]. Profitability - The net loss for Q3 2025 was $31.7 million, a 45% increase from the net loss of $21.9 million in Q3 2024[8]. - Adjusted EBITDA for Q3 2025 was a loss of $16.5 million, compared to a loss of $13.7 million in Q3 2024, reflecting a 21% increase in losses[8]. - Net loss from continuing operations for Q3 2025 was $31,684 million, compared to a loss of $21,919 million in Q3 2024, reflecting a 44% increase in losses[22]. - Net loss for Q3 2025 was $34,687 million, compared to a net loss of $26,938 million in Q3 2024, reflecting a 28.5% increase in losses[32]. - Adjusted EBITDA for Q3 2025 was $(16,649) million, compared to $(14,490) million in Q3 2024, indicating a worsening of 14.9%[35]. Expenses - Operating expenses for Q3 2025 were $42.4 million, an increase of 9% compared to Q3 2024, including $9.4 million in restructuring charges[8]. - Total expenses for Q3 2025 were $29,696, compared to $27,903 in Q3 2024, representing a 6.4% increase[27]. - Total expenses for Q3 2025 were $80,932 million, an increase of 12.5% compared to $71,908 million in Q3 2024[32]. - Operating expenses increased to $42,422 million in Q3 2025, compared to $38,825 million in Q3 2024, marking an increase of 4.1%[22]. - Non-GAAP operating expenses for Q3 2025 were $27,004, up from $26,320 in Q3 2024, indicating a 3% increase[24]. - Research and development (R&D) operating expenses for Q3 2025 were $6,356, a decrease of 8.4% from $6,939 in Q3 2024[24]. - Selling, general and administrative (SG&A) operating expenses for Q3 2025 were $21,373, up from $19,932 in Q3 2024, marking a 7.2% increase[24]. - Research and development expenses for Q3 2025 were $11,205 million, down from $13,156 million in Q3 2024, a decrease of 14.8%[34]. - Selling, general and administrative expenses for Q3 2025 were $35,069 million, slightly up from $34,403 million in Q3 2024[34]. - Transaction and integration expenses for Q3 2025 were $2,246 million, significantly lower than $5,079 million in Q3 2024, a decrease of 55.8%[34]. Cash and Assets - Cash and cash equivalents stood at $217.0 million as of September 30, 2025, with an expected increase to approximately $550 million upon closing the Illumina transaction in H1 2026[6]. - Cash and cash equivalents at the end of Q3 2025 were $129,418 million, down from $166,728 million at the end of 2024[18]. - Total current assets increased to $472,439 million as of September 30, 2025, compared to $375,883 million at the end of 2024, an increase of 25.7%[18]. - Total liabilities decreased slightly to $139,977 million as of September 30, 2025, from $140,623 million at the end of 2024[18]. Strategic Initiatives - The company implemented a restructuring plan expected to deliver over $40 million in annualized cost savings, fully realized by 2026[4]. - The operational restructuring plan aims to align resources with long-term strategic objectives and is expected to generate efficiencies across various functions[5]. - Standard BioTools is positioned for strategic M&A to fuel growth and deliver long-term value for shareholders, supported by a strong balance sheet and cash inflow from the Illumina transaction[3].