Slide 1: Unleashing tools to accelerate breakthroughs in human health
Unleashing tools to accelerate breakthroughs in human health
Slide 2: Second Quarter 2022 Financial Results
SECOND QUARTER 2022 FINANCIAL RESULTS AUGUST 8, 2022 Standard BioTools
Slide 3: Legal Information
Legal Information Forward-looking statements Non-GAAP financial information This presentation and the accompanying oral presentation contain forward-looking statements This presentation includes certain financial information in accordance with U.S. GAAP and also within the meaning of the Private Sec
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
E l e m e nt s Re qu ire d to E xe c ute 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 Capi
Slide 7: Return to Growth & Drive Profitability
Re t ur n to G row t h & Dr i ve P ro f i ta bi l i t y LEVERAGE IMPROVE ACQUIRE Existing brand & product Standard BioTools Business Complementary and lines System (SBS) de-risked technology Seasoned management acquisitions Established global team to drive strategy and infrastructure execu
Slide 8: Phased Restructuring
P ha se d Re st r uc tu r i ng 1. General & Administrative Expense Reduction • Reduction in headcount • Plan to reduce real estate footprint including at headquarters in South San Francisco 2. Rationalization of Microfluidics Business • Narrowed commercial focus to niche markets for specialized appl
Slide 9: Strategic Priorities
S t rate g i c P r i o r i ti e s 1. Revenue Growth • Accelerate growth in Mass Cytometry and focus Microfluidics toward profitable growth • Compete in growing markets where we have, or could have, a competitive advantage • Focus on servicing more customers in translational and clinical research 2.
Slide 10: Disciplined M&A Approach & Criteria
D i sci pl i ne d M &A A pp ro a c h & C r ite r i a Problem-solving emerging tech, high pull-through customers, and a value unlock via our platform Customer/Markets Technology/Solution Commercial Customer Profile Application Space Commercialization • Pharma/CRO • Proteomics, multi-omics • Clear unm
Slide 11: Second Quarter 2022 Financial Results
Second Quarter 2022 Financial Results Vikram Jog, CFO Standard BioTools
Slide 12: Q2 2022 Revenue
Q2 2022 Revenue 2021 2022 Y/Y Growth • Base product and Service (in $ millions) revenue (excluding Q2 Q2 COVID-19, Other) lower Mass Cytometry 35% y/y. Instruments 7.4 2.3 –69% Consumables 4.5 3.8 –16% • Mass Cytometry: Service revenue 4.7 4.0 –15% Instruments decreased Total Mass Cytometry 16.6 10.
Slide 13: Q2 2022 Revenue by Geographic Area
Q2 2022 Revenue by Geographic Area Geographic Area Revenue by Geography Year-over-Year Change % of Total Americas* $9.4 million (41)% 50% EMEA $5.7 million (39)% 30% Asia-Pacific $3.7 million (35)% 20% Total revenue $18.8 million (39)% 100% *Americas geographic area includes Other Revenue of $0.8 mi
Slide 14: Q2 2022 and 2021 Selected Financial Information
Q2 2022 and 2021 Selected Financial Information Statement of operations data, GAAP(a) Q2 2022 Q2 2021 Notes Total revenue $18.8 $31.0 Non-GAAP Product & Service Year-over-year growth (39)% margin 37.7% vs. 61.5% in 2Q21 Loss from operations (GAAP) (38.6) (17.3) Net loss (GAAP) (63.5) (17.1) • Increa
Slide 15: Unleashing tools to accelerate breakthroughs in human health
Unleashing tools to accelerate breakthroughs in human health
Slide 16: Q2 2022 Supplemental Financial Information
Q2 2022 | Supplemental Financial Information August 8 , 2022 Standard BioTools
Slide 17: Total Revenue
Tot al Reve n u e Y/Y 2019 2020 2021 2022 Growth (in $ millions) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Mass Cytometry Instruments 11.5 10.0 7.2 12.9 41.6 7.5 5.4 5.8 9.8 28.5 5.0 7.4 7.1 10.5 30.0 4.4 2.3 –69% Consumables 3.9 4.4 4.6 5.0 17.8 3.9 3.6 5.1 5.4 18.0 4.6 4.5 4.3 5.6 19.0 4.
Slide 18: Q2 2022 Revenue Profile
Q2 2022 Revenue Profile Category Market Geography Instruments Consumables Service Other Microfluidics Mass Cytometry Americas EMEA Asia-Pacific 3% 14% 20% 31% 50% 45% 55% 30% 52% Standard BioTools
Slide 19: Selected GAAP Financial Data
Selected GAAP Financial Data ($ in millions) Year-over-Year Change Cash and Cash Product and Operating Operating Loss Net Loss Equivalents & Short- +$ –$ +% –% Service Margin Expenses term Investments 55.3% $134.4 ($51.0) ($53.0) $68.5 FY 2020 N/A +0.6% –$18.2 –15.7% +$0.8 +1.5% +$11.8 +18.2% 55.7%
Slide 20: Selected Non-GAAP Financial Data
Selected Non-GAAP Financial Data ($ in millions) Year-over-Year Change Product and Service Operating Expenses Operating Loss Net Loss +$ –$ +% –% Margin 66.1% $117.0 ($20.4) ($21.8) FY 2020 N/A +0.0% –$15.3 –15.0% +$3.7 +15.2% +$1.9 +8.0% 66.4% $34.1 ($11.7) ($11.1) Q1 2021 N/A –1.0% –$5.9 –20.7% –$
Slide 21: Annual Business and Geography
Annual Business and Geography Business* Geography 2021 48% 52% 2021 49% 33% 18% 2020 55% 45% 2020 54% 27% 19% 2019 37% 63% 2019 40% 34% 26% Microfluidics Mass Cytometry Americas EMEA Asia-Pacific *Business revenue does not include other revenue. Standard BioTools
Slide 22: Reconciliation of GAAP to Non-GAAP Net Loss
Reconciliation of GAAP to Non- GAAP Net Loss NET LOSS ($ in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net loss (GAAP) $ (63,539) $ (17,143) $ (139,827) $ (35,964) Loss on forward sale of Series B Preferred Stock 22,289 — 60,081 — L
Slide 23: Reconciliation of GAAP to Non-GAAP Product and Service Margin and Operating Expenses
Re co nc il i ati o n o f G A A P to No n - G A A P P rod uc t a n d S er v ic e M a r g i n a nd O per a t ing E x pe ns es PRODUCT AND SERVICE MARGIN ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Product and service gross profit (GAAP) $ 3,675 $ 14,657
Slide 24: Reconciliation of GAAP to Non-GAAP Loss From Operations
Reconciliation of GAAP to Non-GAAP Loss From Operations LOSS FROM OPERATIONS ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Loss from operations (GAAP) $ (38, 563) $ (17,268) $ (66,066) $ (36,588) Stock-based compensation expense 4,663 3,741 8,705 7,418 Am
Slide 25: 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, Biomark, CyTOF, CyTOF XT, EP1, Helios, Hyperion and Hyperion+ are trademarks and/or registered tradema