Standard BioTools (LAB) Provides Preliminary Fourth Quarter 2022 Revenue and Business Update

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Go back to Standard BioTools (LAB) Provides Preliminary Fourth Quarter 2022 Revenue and Business Update

Standard BioTools Provides Preliminary Fourth Quarter 2022 Revenue and Business Update

January 9, 2023 8:30 AM EST

Continued commercial and strategic execution delivers sequential core revenue growth of 4%9% to $26 million$27 million in Q4 2022 for full year total of approximately $94 million$95 million

Business restructuring and SBS program on track to deliver over 20% reduction in operating expenses or more than $30 million and reduces annual operating expenses to approximately $100 million exiting Q4. GAAP operating expense reductions are expected to be over 25% and over $35 million.

On track for achieving stated goal of 65%68% non-GAAP gross margins by the end of 2023. GAAP... More