NASDAQ$LAB
Standard Biotool · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported first quarter results with a focus on transforming the core business into a cash flow positive enterprise and showing growth in core product and service business lines.
Standard BioTools reported a 5.2% decrease in GAAP revenue year-over-year to $25.1 million, while core product and service revenue increased 1.8% to $24.3 million. The company significantly reduced operating cash burn and saw improvements in GAAP and non-GAAP product and service margins. They also completed restructuring efforts and are focused on inorganic growth.
- Net cash used in operating activities decreased 46% year-over-year to $8.5 million.
- GAAP revenue decreased 5.2% year-over-year to $25.1 million, but core product and service revenue increased 1.8% year-over-year to $24.3 million.
- GAAP product and service margin improved 567 basis points sequentially to 46.6%.
- The company launched the Hyperion XTi™ Imaging System and completed restructuring efforts.
Headline financials
Revenue & EPS history
Standard Biotool · Revenue · Quarterly
$25.1M
Forward guidance
Standard BioTools expects flat-to-moderate growth in core product and service revenues for 2023, with GAAP product and services margins expected to increase to 52%-55% and non-GAAP margins to 65%-68% by the fourth quarter of 2023.
Tailwinds
- Expects flat-to-moderate growth in core product and service revenues relative to 2022.
- GAAP product and services margins are currently expected to increase to 52%–55% by the fourth quarter of 2023.
- Non-GAAP product and services margins are expected to increase to 65%–68% by the fourth quarter of 2023.
- Expects GAAP operating expenses of approximately $118 million to $123 million.
- Expects non-GAAP operating expenses of approximately $102 million to $107 million for 2023.
Headwinds
- Forward-looking statements are subject to risks and uncertainties.
- Restructuring may lead to loss of customers, suppliers, and employees.
- Internal and external costs may be higher than expected.
- Changes in business or external market conditions could impact results.
- Uncertainties in contractual relationships may arise.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-2.7%
Avg return
Earnings day
-0.8%
Avg return
5 days after
+0.6%
Avg return
30 days after
42%
19 / 45 earnings
Positive
+44.5%
Q3 2015
Best reaction
-51.0%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | +1.0% | +16.3% | |
| Q4 2025 | +2.6% | -4.3% | -21.7% | |
| Q3 2025 | -2.6% | +0.0% | +26.1% | |
| Q1 2025 | -3.9% | +9.4% | +0.0% | |
| Q4 2024 | -10.3% | -9.4% | -2.6% | |
| Q3 2024 | +12.0% | +5.7% | -13.7% | |
| Q2 2024 | -38.8% | -31.5% | -8.2% | |
| Q1 2024 | +1.7% | +4.6% | -2.1% | |
| Q4 2023 | -3.8% | +10.3% | +15.8% | |
| Q3 2023 | -6.9% | +6.9% | +15.2% | |
| Q2 2023 | +6.7% | +20.0% | +20.8% | |
| Q1 2023 | +9.1% | +7.3% | +33.9% | |
| Q4 2022 | +0.0% | -0.5% | +3.3% | |
| Q3 2022 | -7.9% | +32.7% | +29.7% | |
| Q2 2022 | -11.1% | -6.9% | -22.8% | |
| Q1 2022 | -5.8% | -21.4% | -37.1% | |
| Q4 2021 | +3.1% | -1.4% | +8.0% | |
| Q3 2021 | -5.1% | +0.8% | -8.2% | |
| Q2 2021 | -7.0% | -0.7% | +4.7% | |
| Q1 2021 | +5.1% | +12.5% | +12.1% | |
| Q4 2020 | -19.8% | -20.5% | -35.2% | |
| Q3 2020 | +13.5% | -18.2% | -7.7% | |
| Q2 2020 | +2.6% | +0.1% | -17.3% | |
| Q1 2020 | +15.9% | +31.9% | +0.0% | |
| Q4 2019 | -0.3% | -3.7% | -30.6% | |
| Q3 2019 | -51.0% | -54.5% | -51.0% | |
| Q2 2019 | -31.5% | -40.0% | -52.5% | |
| Q1 2019 | -10.4% | -13.2% | -1.4% | |
| Q4 2018 | +10.4% | +17.5% | +37.4% | |
| Q3 2018 | +2.1% | +1.7% | +13.9% | |
| Q2 2018 | +7.0% | +8.4% | +26.1% | |
| Q1 2018 | -2.2% | -7.1% | -5.3% | |
| Q4 2017 | +13.4% | +30.3% | +17.8% | |
| Q3 2017 | +1.8% | -7.4% | +4.7% | |
| Q2 2017 | -3.1% | -4.9% | +44.9% | |
| Q1 2017 | +17.3% | +16.1% | -3.6% | |
| Q4 2016 | -1.6% | +0.3% | -18.1% | |
| Q3 2016 | -1.8% | +11.1% | +48.8% | |
| Q2 2016 | -12.2% | -13.4% | -15.8% | |
| Q1 2016 | +5.4% | — | — | |
| Q4 2015 | +0.0% | — | — | |
| Q3 2015 | +44.5% | — | — | |
| Q2 2015 | -35.8% | — | — | |
| Q1 2015 | -26.4% | — | — | |
| Q4 2014 | +2.2% | — | — |
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