Standard BioTools(LAB) - 2023 Q1 - Earnings Call Presentation

Financial Performance (Q1 2023) - Core product and service revenue increased by 18% to $24319 thousand compared to $23888 thousand in Q1 2022 [46] - Total Proteomics revenue increased by 123% to $152 million in Q1 2023 compared to $135 million in Q1 2022 [36] - Genomics revenues decreased by 120% to $91 million in Q1 2023 compared to $104 million in Q1 2022 [36] - GAAP product and service margin was 466% in Q1 2023, a 567 basis point increase from 409% in Q4 2022 [28] - Non-GAAP product and service margin was 609% in Q1 2023, a 792 basis point increase from 529% in Q4 2022 [28] - GAAP operating expenses decreased by 11% to $287 million in Q1 2023 compared to $323 million in Q4 2022 [28] - Non-GAAP operating expenses decreased by 16% to $254 million in Q1 2023 compared to $301 million in Q4 2022 [28] - Net cash used in operating activities decreased by 56% to $85 million in Q1 2023 compared to $192 million in Q4 2022 [28] Strategic Focus - The company received a $250 million capital infusion from Casdin Capital and Viking Global [9] - The company is focused on improving operating discipline and strategic M&A [11] - The company is using the Standard BioTools Business System (SBS) to improve operations and commercial execution [23] Product and Market Highlights - Standard BioTools introduced the Hyperion XTi Imaging System [12]