Slide 1: First Quarter 2025 Financial Results
Setting Standards Empowering Research Building Shareholder Value First Quarter 2025 Financial Results May 6th 2025
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 Standard BioTools 33
Slide 4: Executing on Our Vision
Executing on Our Vision Building a Diversified Life Science Tools Industry Leader Clean Balance Sheet: $261 million in cash3 Revenue: $40.8 million in Q1 2025 provides path to adj EBITDA + expected in 2026 Cost Reductions: Operationalized ~$10 million Strategic Growth: New proteomics solutions, in Q
Slide 5: Leverage Standard BioTools Business System (SBS) Flywheel to Deliver Value
Leverage Standard BioTools Business System (SBS) Flywheel to Deliver Value APPLYING SBS TO DRIVE IMPROVEMENT SBS FLYWHEEL • Identify high-value solutions capable of lifting off from prior years of costly R&D investments CLEAR STRATEGY • Leverage SBS to improve quality, increase customer satisfaction
Slide 6: SomaLogic Merger: Improving Key Metrics, 12+ Months In
SomaLogic Merger: Improving Key Metrics, 12+ Months In Strategic Rationale Progress Highlights January 5, 2024 ▪ Company spent ~$800M ▪ Acceleration of cost synergies with Standard BioTools Completes Merger with pre-merger and required $80M operationalized3; Targeting SomaLogic, Creating a Diversifi
Slide 7: SomaScan: Setting the Standard in Population Proteomics
SomaScan: Setting the Standard in Population Proteomics In a category of its own with 5x the useful content than the nearest competitor AFFINITY PROTEOMICS LANDSCAPE SomaScan SomaScan1 Select 3.7K 11K Quality Competitor A Population Proteomics Competitor B1 100 200 500 1,000 2,000 3,000 4,000 5,000
Slide 8: Momentum Coming Out of AACR
Momentum Coming Out of AACR Unlocking Transformative Insights Powered by Standard BioTools ▪ Showcases breadth & utility ~ 90 of Standard Bio portfolio ▪ Demonstrates critical role proteomics plays in translational Prostate Cancer Risk1 Adverse Event Prediction2 & clinical research ▪ Conducted in th
Slide 9: Portfolio Wide Diversification
Portfolio Wide Diversification Capitalizing on Transition from Genomics to Proteomics SERVICES & CONSUMABLES SOMASCAN KREX OMICS AS A SERVICE FIRST QUARTER ‘25 REVENUE MIX PLASMA ANTIBODY SINGLE CELL PROTEOMICS PROTEOME PROFILING SPATIAL PROTEOMICS 35% CONSUMABLES INSTRUMENTS & CONSUMABLES CYTOF HYP
Slide 10: M&A Pipeline: Disciplined Criteria and Filling Funnel
M&A Pipeline: Disciplined Criteria and Filling Funnel M&A FOCUS & CRITERIA Consumables Instruments DIVERSIFIES PRODUCT MIX & END MARKET • High margin recurring consumables • Diversified product mix • Growth in pharma and new end markets DE-RISKED TECHNOLOGY • Science fully understood • Deployable pr
Slide 11: CFO Commentary
Ae CFO Commentary ALEX KIM STANDARD BIOTOOLS™
Slide 12: Revenue
Revenue Continued Focus on Diversifying Revenue Mix Q1 YOY 2025 • Consumables decline driven by lower Consumables $14M (16%) volume Instruments $8M 24% • Instrument growth driven by Hyperion Lab Services $12M (19%) XTi spatial proteomics platform Field Services $6M (11%) • Services decline in part d
Slide 13: Gross Margin (Non-GAAP)
Gross Margin (Non-GAAP) Executing Roadmap to Expanded Gross Margin Profile Q1 YoY • Q1 2025 over Q1 2024 decline 2025 primarily due to lower volume, Non-GAAP Gross Margin $ $22M ($4M) price realization and product mix, partially offset by incremental improvements from SBS Non-GAAP Gross Margin % 53%
Slide 14: Operating Expenses (OpEX) (Non-GAAP)
Operating Expenses (OpEX) (Non-GAAP) Non-GAAP OpEx Reduction Showing up in Run Rate Q1 • 22% and $11M reduction in Q1 2025 YoY YoY % 2025 non-GAAP OpEx over Q1 2024 R&D $10M ($4M) (28%) • Result from the realization of merger SG&A $29M ($7M) (19%) cost synergies and continued Total $39M ($11M) (22%)
Slide 15: Adjusted EBITDA (Non-GAAP)
Adjusted EBITDA (Non-GAAP) Maintain Vigilance and Focus on Bottom Line Q1 • 29% and $7M improvement in YoY 2025 Q1 2025 Adjusted EBITDA over Operating Loss $ ($33M) $27M Q1 2024 Net Loss $ ($26M) $6M Adjusted EBITDA $ ($17M) $7M Adjusted EBITDA excludes purchase accounting items, restructuring charg
Slide 16: Cash: Runway to Execute Growth Strategy
Cash Runway to Execute Growth Strategy Q1 2025 Q1 2024 Cash, cash equivalents, restricted cash and Adjusted Cash Burn $31M $47M short-term investments Debt Retirement - 8M Share repurchases - 11M AT 03/31/2025 Transaction and Integration-Related 2M 34M $260.7M Restructuring-Related Total Cash Use 1M
Slide 17: Closing Remarks
Closing Remarks MICHAEL EGHOLM, PHD Standard BioTools 1717
Slide 18: Appendix: Financials
Appendix: Financials 18
Slide 19: Capitalization Table
Capitalization Table Issued and (in millions, except per share data) Fully Diluted Outstanding(a) Common Stock 379 379 Restricted Stock Units - 21 Warrants (b) - 12 Stock Options (c) - 38 Total Shares 379 450 Market Capitalization (d) $409 Cash, cash equivalents, restricted cash and short-term 261 i
Slide 20: Non-GAAP Reconciliation: Gross Margin
Non-GAAP Reconciliation Gross Margin As Reported (in millions) Q1 2025 Q1 2024 GAAP Gross Profit $19.7 $24.2 Add: Amortization of Acquired Intangible Assets 0.7 2.0 Add: Depreciation and Amortization in COGS 0.7 1.0 Add: Stock-Based Comp in COGS 0.5 0.2 Add: Loss on disposal of property and equipmen
Slide 21: Non-GAAP Reconciliation: Operating Expenses
Non-GAAP Reconciliation Operating Expenses As Reported (in millions) Q1 2025 Q1 2024 GAAP R&D $11.3 $16.0 Less: Stock-Based Comp in R&D 0.7 1.3 Less: Depreciation and Amortization in R&D 0.6 0.9 Less: Loss on Disposal of PP&E 0.1 0.0 Non-GAAP R&D $9.9 $13.8 GAAP SG&A $38.7 $46.9 Less: Stock-Based Co
Slide 22: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation Adjusted EBITDA As Reported (in millions) Q1 2025 Q1 2024 Net loss (26.0) (32.2) Income tax (benefit) expense (0.2) 0.1 Interest income, net (2.9) (5.2) Amortization of acquired intangible assets 0.9 2.1 Depreciation and amortization 3.3 3.1 Bargain purchase gain - (25.2) Tra