Core Insights - Standard BioTools reported a solid first quarter in 2025, achieving a 29% year-over-year improvement in adjusted EBITDA despite a challenging macro environment in Life Sciences [2][5] - The company is focused on its strategic position in proteomics, particularly with the SomaScan and SOMAmers technologies, which are gaining traction in population-based studies [2][5] Financial Performance - Revenue for the first quarter of 2025 was $40.8 million, a decrease of 10% compared to $45.5 million in the first quarter of 2024 [3][6] - Consumables revenue was $14.5 million, down 16% year-over-year, while instruments revenue increased by 24% to $7.8 million, driven by growth in the Hyperion XTi spatial proteomics platform [6][22] - Services revenue totaled $17.6 million, down 16% year-over-year, with Lab Services revenue declining by 19% due to tough comparisons with prior-year levels [6][22] Profitability Metrics - Gross margin for the first quarter of 2025 was 48.4%, down from 53.1% in the same period of 2024, while non-GAAP gross margin was 53.2%, down from 56.2% [3][7] - Operating expenses decreased significantly to $52.7 million, down 38% from $84.4 million in the first quarter of 2024, reflecting cost synergies from the merger [12][24] - The net loss for the first quarter was $26.0 million, an improvement from a net loss of $32.2 million in the first quarter of 2024 [12][26] Cash Position - As of March 31, 2025, the company had a strong balance sheet with $261 million in cash and cash equivalents and no material debt [5][17] - The company operationalized an additional $10 million in annual run rate cost reductions, totaling $90 million since the merger [5][12] Future Outlook - For the fiscal year 2025, Standard BioTools expects revenue in the range of $165 million to $175 million, anticipating a decline in Americas academic revenue due to NIH funding pressures [8][12]