Standard Biotools Inc. · NASDAQ:LAB
Standard Biotools — Merger or Acquisition (October 2023)
15 slides from Standard Biotools's merger presentation, Oct 4, 2023
Slide 1: Standard BioTools Activating Strategy to Become a Diversified Leader in Life Sciences Tools
Standard BioTools Activating Strategy to Become a Diversified Leader in Life Sciences Tools O C T O B E R 4 , 2 0 2 3
Slide 2: Legal Information: Forward-looking statements
Legal Information Forward-looking statements This presentation contains forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than state
Slide 3: Legal Information: Non-GAAP financial information
Legal Information 3 Non-GAAP financial information This presentation includes certain financial information in accordance with U.S. GAAP and also on a non-GAAP basis for the three-month periods ended June 30, 2023 and June 30, 2022, and for the fiscal years ended December 31, 2021 and 2022. Manageme
Slide 4: Transaction Overview
4 Transaction Overview Consideration Ownership Management & Board Timing • All-stock merger • SLGC shareholders to receive 1.11 LAB shares per share of SLGC • >$1B pro-forma equity value based on SBI closing share price on October 3, 2023 • LAB shareholders to own ~43% of combined entity (incl. Seri
Slide 5: SBI: Forging Next Generation of Leadership in Life Science Tools & Solutions
5 17% revenue growth(3) 1,000 bps improvement in non-GAAP gross margin 60% improvement in operating cash use > > ✓ M&A strategy activated; evaluating opportunities SBI: Forging Next Generation of Leadership in Life Science Tools & Solutions Capital Entrenched operating discipline drives execution an
Slide 6: SomaLogic Powers Comprehensive Proteomic Insights
6 SomaLogic Powers Comprehensive Proteomic Insights $80-84M 2023E Revenue Guidance $474M Q2 2023 Cash balance Partnership expected to launch in 2025 185 SomaScan Services customers, 15 certified sites and relationships with 9 of the top 20 biopharmaceutical companies Blue-Chip Customer Base Highest
Slide 7: Many Great Emerging Life Sciences Tools Technologies, Few Built to Scale
7 MANY Great Emerging Life Sciences Tools Technologies – Highly Fragmented… …FEW Built to Scale Profitably • Developing, manufacturing, supporting customers, and commercializing technology is costly • Leveraging infrastructure costs requires deep operating expertise • Need for sufficient capital Vas
Slide 8: Shared Mission to Advance Life Sciences Research
8 $ Shared Mission to Advance Life Sciences Research + = Scaled Leader in Multi-omic Life Sciences Tools $ • Differentiated technology for translational proteomics, spatial biology and genomics • Broad product design, development and manufacturing expertise (hardware, software, consumables) • Season
Slide 9: Complementary Multi-omic Technology Platform
9 Complementary Multi-omic Technology Platform Expands commercial reach with combined capabilities and offerings Complementary Capabilities Combined Multi-omic Portfolio End Markets Offering ~65% Biopharma research Academic research ~80% Services (SomaScan) Consumables ~85% Services Consumables Inst
Slide 10: Accelerated Path to Scale and Profitability
10 Accelerated Path to Scale and Profitability (1) Assumes Q1 2024 close. 2023E revenue ranges based on full year guidance. Reflects 1H 2023 pro forma adjusted gross margin. Reflects estimated cash balance as of closing, net of transaction fees. (2) Compared to annualized run-rate based on 1H 2023 r
Slide 11: Combined Leadership
11 Combined Leadership Michael Egholm Chief Executive Officer Alex Kim Chief Operating Officer Adam Taich SLGC: Interim CEO Shane Bowen SLGC: Chief R&D Officer Significant life sciences tools & operational experience & track record of integration execution LAB: Chief Strategy Officer LAB: Chief Tech
Slide 12: A Compelling Combination
A Compelling Combination (1) Compared to annualized run-rate based on 1H 2023 results. Total cost synergies exclude non-cash, restructuring-related and other non-recurring costs for each of Standard BioTools and SomaLogic. (2) Based on assumed Q1 2024 close and estimated combined cash balance of Sta
Slide 13: Appendix
ah ~ = Sey + somalogic BIOTOOLS Appendix
Slide 14: Complementary Multi-omic Technology Platform
14 Complementary Multi-omic Technology Platform Differentiated throughput, reliability and data integrity Hyperion™ XTi Spatial Biology Platform Biomark X9™ High-Throughput Genomics System Integrated Fluidic Circuit Maxpar® assays and kits Flow Cytometry Spatial Biology Genomics Serum Proteome Works
Slide 15: Non-GAAP Reconciliation
15 Non-GAAP Reconciliation Gross Margin 1H 2022 1H 2023 GAAP Gross Profit ($M) $16.7 $25.9 Add: Amortization on Technology in COGS $5.6 $5.6 Add: Depreciation and Amortization in COGS $0.6 $0.7 Add: Stock-Based Comp in COGS $0.3 $0.5 Non-GAAP Gross Profit $23.2 $32.7 GAAP Gross Margin 36.8% 49.1% Ad
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