Akoya Biosciences Reports First Quarter 2025 Financial Results

Core Viewpoint - Akoya Biosciences, Inc. reported a focus on operational discipline and innovation in Q1 2025, despite macroeconomic challenges and NIH funding uncertainties, while preparing for a merger with Quanterix Corporation to enhance precision medicine opportunities [2]. Financial Results - Revenue for Q1 2025 was $16.6 million, a decrease of 9.8% from $18.4 million in the same period last year [7]. - Gross margin improved to 59.3% in Q1 2025, compared to 45.7% in the prior year [7]. - Operating expenses decreased by 22.3% to $23.3 million in Q1 2025 from $30.0 million in the prior year [7]. - Operating loss was $13.4 million, an improvement of 37.9% from a loss of $21.6 million in the prior year [7]. - Net cash used in operating activities decreased to $7.2 million from $20.8 million in the prior year [7]. - As of March 31, 2025, the company had $27.5 million in cash, cash equivalents, and marketable securities [7]. Business Highlights - Akoya's installed base grew to 1,359 instruments, a year-over-year increase of 12.0% [7]. - The total number of publications citing Akoya's technology reached 1,891, a 44.7% increase from 1,307 in the prior year [7]. - Akoya announced partnerships for significant cancer studies, including the selection of PhenoCycler-Fusion for a Cancer Grand Challenges-funded study and collaboration with the Singapore Translational Cancer Consortium [7]. - At the AACR Annual Meeting, Akoya launched the largest commercially available single-cell spatial proteomics atlas and expanded its Advanced Biopharma Solutions portfolio [7].