Standard Biotools Inc. · NASDAQ:LAB
Standard Biotools — FY2022 Earnings Presentation
21 slides from Standard Biotools's earnings presentation, Feb 14, 2023
Slide 1: Unleashing tools to accelerate breakthroughs in human health
Unleashing tools to accelerate breakthroughs in human health™
Slide 2: Fourth Quarter and Full Year 2022 Financial Results
FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL RESULTS February 14, 2023 Standard BioTools
Slide 3: Legal Information
Legal Information Forward-looking statements the date hereof. Standard BioTools disclaims any obligation to update these forward-looking statements except as may be required by law. This presentation and the accompanying oral presentation contain forward-looking statements within the meaning of the
Slide 4: CEO Commentary
CEO Commentary Michael Egholm, PhD Standard BioTools
Slide 5: Vision
VISION To be a top-quartile life science research tools company in 3–5 years, becoming the established standard in our customers’ workflows Standard BioTools
Slide 6: Elements Required to Execute
Elements Required to Execute LAB Platform Strategic M&A Create a diversified, innovation- Execute on highly strategic M&A focused life science tools company across a broad target universe serving the pharma research markets leveraging existing infrastructure Top-Grade Team Access to Capital $250 mil
Slide 7: Financial Highlights
F inancial H ighlights Revenues GAAP: 4Q22 $27.0M, FY22 $97.9M Core (Non-GAAP) $26.8M = 8% sequential growth, FY22 $94.5M Product and Services Margin: GAAP: 40.9% in 4Q22 vs. 34.7% in 3Q22 Non-GAAP: 52.9% in 4Q22 vs. 47.7% in 3Q22 Operating Expenses: 16% sequential decrease from 3Q22
Slide 8: Progress Against Strategic Priorities
Progress Against S trategic Priorities STABILIZE IMPROVE ACQUIRE Two quarters of sequential Expected OpEx reduction Large funnel of acquisition growth of $30M+ opportunities New sales teams Sequentially expanding Disciplined approach gross margin Disciplined sales funnel management R
Slide 9: Strategic Priorities
S trategic Priorities 1. Revenue Growth • Fourth quarter core product and services revenue increase of 8% sequentially to $26.8 million • Strengthened sales leadership, improved funnel management and a renewed operational discipline • Reallocate R&D to Proteomics to drive steady cadence of new produ
Slide 10: Proteomics Driver of Core Growth
Proteomics Driver of Core Growth Flow Cytometry – Imaging Mass Cytometry™: – CyTOF® Hyperion™ Imaging System • Single-cell analysis • Whole tissue analysis • 13 samples per run • Subcellular, 1 µm resolution • 50+ markers per sample • 40+ markers per sample Reinvigorating R&D Building a robust roadm
Slide 11: Fourth Quarter & FY 2022 Financial Results
Fourth Quarter & FY 2022 Financial Results Vikram Jog, CFO Standard BioTools
Slide 12: Q4 & FY 2022 Revenue
Q4 & FY 2022 Revenue Segment Data – 2022 Revenue $97.9M 2021 2022 Consumables (in $ millions) Q4 FY Q3 Q4 FY 45% Proteomics Instruments 10.5 30.0 5.8 4.4 16.9 Service Consumables 5.6 19.0 4.3 5.0 17.8 24% Service revenue 5.1 18.7 4.2 4.3 16.9 Total Proteomics 21.2 67.7 14.3 13.7 51.7 Genomics Other
Slide 13: Selected Financial Information
Selected Financial Information 2021 2022 4Q22 vs. 3Q22 Income Statement Data Q4 FY Q3 Q4 FY Product & Services Margin GAAP 52.7% 51.5% 34.7% 40.9% 36.7% 620 bp Non-GAAP 61.8% 62.2% 47.7% 52.9% 50.2% 520 bp Operating Expenses (in $ millions) GAAP 31.5 136.8 38.2 32.3 153.3 (6.0) Non-GAAP 26.7 118.6 3
Slide 14: Outlook for 2023
Outlook for 2023 2023 OUTLOOK 2022 2023 Income Statement Components Core Revenue $94.5M $94.5M+* Product & Services exc. COVID-19/Disc. Ops. Product & Services Margin (GAAP) 36.7% 52% - 55% Product & Services Margin (Non-GAAP) 50.2% 65% - 68% Operating Expenses (GAAP) $153.3M $118M - $123M Operating
Slide 15: Unleashing tools to accelerate breakthroughs in human health
Unleashing tools to accelerate breakthroughs in human health™
Slide 16: Q4 & FY 2022 Supplemental Financial Information
Q4 & FY 2022 | Supplemental Financial Information February 14 , 2023 Standard BioTools
Slide 17: Reconciliation of Total Revenue to Product & Service Revenue
Reconciliation of Total Revenue to Product & Service Revenue $000 except for per share amounts (1) Other revenue includes development, grant and license revenue Standard BioTools
Slide 18: Reconciliation of GAAP to Non-GAAP Net Loss
Reconciliation of GAAP to Non-GAAP Net Loss $000 except for per share amounts (a) represents amortization of developed technology in connection with the DVS and InstruNor acquisitions (b) represents interest expense, primarily on convertible debt (c) represents impairment of intangible no longer use
Slide 19: Reconciliation of GAAP to Non-GAAP Gross Margin and Operating Expenses
Reconciliation of GAAP to Non-GAAP Gross Margin and Operating Expenses $000 except for per share amounts $000 except for per share amounts (a) represents amortization of developed technology in connection with the DVS and InstruNor acquisitions (c) represents impairment of intangible no longer used
Slide 20: Reconciliation of GAAP to Non-GAAP Loss From Operations
Reconciliation of GAAP to Non-GAAP Loss From Operations $000 except for per share amounts (a) represents amortization of developed technology in connection with the DVS and InstruNor acquisitions (c) represents impairment of intangible no longer used in our product lines (f) represents expense assoc
Slide 21: Information in this publication is subject to change without notice
Information in this publication is subject to change without notice. Patents: www.fluidigm.com/legal/notices. Trademarks: Standard BioTools, the Standard BioTools logo, Fluidigm, the Fluidigm logo, the CyTOF XT logo, “Unleashing tool to accelerate breakthroughs in human health,” CyTOF, CyTOF XT, Hyp