Slide 1: Unleashing Tools to Accelerate Breakthroughs in Human Health
Unleashing Tools to Accelerate Breakthroughs in Human Health SECOND QUARTER 2024 FINANCIAL RESULTS July 31, 2024
Slide 2: Legal Information
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: CEO Commentary
CEO Commentary MICHAEL EGHOLM, PHD 3
Slide 4: Executing on our Vision
Executing on our Vision Building a Diversified Life Science Tools Industry Leader Standard Vision to integrate critical Standard Business Systems (SBS) life sciences solutions under one driving enhanced visibility platform in a highly fragmented industry $80 million cost synergy target pulled Partne
Slide 5: Q2 Scorecard
Q2 Scorecard Growing Pipeline of Opportunities and Revenue Diversification $33M Reduced pro forma first half 2024 combined COMBINED Q2 REVENUE non-GAAP opex by 27%(1,2) $37M Improved first half 2024 pro forma combined $24M non-GAAP Adjusted EBITDA loss by 33% (1,2) COMBINED 1H REVENUE $83M $60M Merg
Slide 6: Portfolio-Wide Diversification
Portfolio-Wide Diversification Driving Business Across Three Product Categories and Two End-User Markets Q2'24 REVENUE MIX EXPANDED & DIVERSIFIED Other 3% PORTFOLIO, WITH RECURRING SOURCES OF REVENUE Instruments 19% Caters to broad customer base across Consumables and kits academic research and biop
Slide 7: Enhanced Growth Drivers
Enhanced Growth Drivers Leveraging Differentiated Technology Platform to Enhance and Expand Core Offerings • Exploring “Multi-omics as a service” model • Exploring lower plex/single SOMAmer reagents model IDENTIFYING • Leveraging Illumina NGS partnership with Expanded Sources potential to create ind
Slide 8: Technology, Team & Balance Sheet
Technology, Team & Balance Sheet $396M TECHNOLOGY MANAGEMENT FORTIFIED BALANCE SHEET Comprehensive platform Experienced team of operators serving attractive end markets steeped in industry expertise Cash on hand to execute strategy and growing diversification of revenue streams 8 Figure above includ
Slide 9: CFO Commentary
CFO Commentary JEFF BLACK STANDARD BIOTOOLS"
Slide 10: Revenue
Revenue Continued Focus on Diversifying Revenue Mix • YTD revenue declined due to continued pressure from Pro Forma Combined Q2 2024 YOY Q2 YTD 2024 YOY macroeconomic headwinds Instruments $7M (-39%) $12M (-32%) • SomaScan Assay services business down over 2023 driven primarily by the timing of larg
Slide 11: Gross Margin (Non-GAAP)
Gross Margin (Non-GAAP) Executing Roadmap to Expanded Gross Margin Profile • ~250 bps impact in Q2 from lower Q2 YTD capacity utilization related to decrease in Pro Forma Combined Q2 2024 YoY YoY 2024 SomaScan assay services volumes Non-GAAP Gross • ~300 bps impact in Q2 from strategic $17M (-$9M) $
Slide 12: Capturing $80M Synergy Opportunity
Capturing $80M Synergy Opportunity Non-GAAP OpEx Reduction Already Showing Up in Q2 Run Rate $80M Pro Forma Q2 % of Q2 % of Combined 2024 Revenue 2023 Revenue $60M R&D $16M 43% $14M 28% $50M $40M Updated Achieved FY24 SG&A $32M 85% $45M 94% Achieved as of Target Initial Total $48M 128% $59M 122% as
Slide 13: Cash
Cash Runway to Execute Growth Strategy Q2 2024 Q2 2023 7% Q2 2024 improvement in Adjusted Operating Cash Burn Adjusted Operating Cash Burn Transaction and Integration-Related $28M $5M $30M - Restructuring-Related $4M $5M Cash & equivalents, restricted cash and Capex $2M $2M short-term investments Wo
Slide 14: Closing Remarks
Closing Remarks MICHAEL EGHOLM, PHD 14
Slide 15: Unleashing Tools to Accelerate Breakthroughs in Human Health
Unleashing Tools to Accelerate Breakthroughs in Human Health SECOND QUARTER 2024 FINANCIAL RESULTS July 31, 2024
Slide 16: Appendix
fA STANDARD Appendix
Slide 17: Capitalization Table
Capitalization Table Issued and (in millions, except per share data) Fully Diluted Outstanding(a) Common Shares 371M 371M Series B Preferred - - 2019 Convertible Notes (b) - 19M Restricted Stock Units - 10M Warrants(c) - 12M Stock Options (d) - 43M Total Shares 371M 455M Market Capitalization (e) $8
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Gross Margin As Reported Pro Forma Q2 2024 Q2 2023 Q2 2024 Q2 2023 GAAP Gross Profit ($M) $14.9 $13.6 $14.9 $21.5 Add: Amortization of Acquired Intangible Assets $0.6 $2.8 $0.6 $3.4 Add: Depreciation and Amortization in COGS $1.0 $0.3 $1.0 $0.7 Add: Stock-Based Comp in COGS $
Slide 19: Non-GAAP Reconciliation - YTD
Non-GAAP Reconciliation - YTD Gross Margin As Reported Pro Forma Q2 YTD Q2 YTD Q2 YTD Q2 YTD 2024 2023 2024 2023 GAAP Gross Profit ($M) $39.1 $25.9 $37.7 $41.8 Add: Amortization of Acquired Intangible Assets $2.5 $5.6 $2.5 $6.7 Add: Depreciation and Amortization in COGS $2.0 $0.7 $2.0 $1.4 Add: Stoc
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation Operating Expenses As Reported Pro Forma In $M Q2 2024 Q2 2023 Q2 2024 Q2 2023 GAAP R&D $19.2 $6.2 $19.2 $14.9 Less: Stock-Based Comp in R&D $2.4 $0.4 $2.4 $0.8 Less: Depreciation and Amortization in R&D $0.8 $0.1 $0.8 $0.5 Less: Intangible impairment in R&D - - - - Non-GAAP
Slide 21: Non-GAAP Reconciliation - YTD
Non-GAAP Reconciliation - YTD Operating Expenses As Reported Pro Forma Q2 YTD Q2 YTD Q2 YTD Q2 YTD In $M 2024 2023 2024 2023 GAAP R&D $35.2 $12.6 $35.9 $32.8 Less: Stock-Based Comp in R&D $3.8 $0.8 $3.8 $1.5 Less: Depreciation and Amortization in R&D $1.7 $0.3 $1.7 $1.1 Less: Intangible impairment i