Slide 1: Unleashing tools to accelerate breakthroughs in human health
Unleashing tools to accelerate breakthroughs in human health
Slide 2: First Quarter 2022 Financial Results
FIRST QUARTER 2022 FINANCIAL RESULTS MAY 5, 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: First Quarter 2022 Financial Results
First Quarter 2022 Financial Results Vikram Jog, CFO Standard BioTools
Slide 5: Q1 2022 Revenue
Q1 2022 Revenue 2021 2022 Y/Y Growth • Base product and Service revenue (excluding (in $ millions) Q1 Q1 COVID-19, Other) lower 2% Mass Cytometry y/y. Instruments 5.0 4.4 –12% Consumables 4.6 4.8 4% • Mass Cytometry: Launch Service revenue 4.5 4.4 –2% of CyTOF® XT more than Total Mass Cytometry 14.0
Slide 6: Q1 2022 Revenue by Geographic Area
Q1 2022 Revenue by Geographic Area Geographic Area Revenue by Geography Year-over-Year Change % of Total Americas* $12.9 million (30)% 48% EMEA $8.6 million (6)% 33% Asia-Pacific $5.0 million (3)% 19% Total revenue $26.5 million (19)% 100% *Americas geographic area includes Other Revenue of $0.4 mil
Slide 7: Q1 2022 and 2021 Selected Financial Information
Q1 2022 and 2021 Selected Financial Information Statement of operations data, GAAP(a) Q1 2022 Q1 2021 Notes Total revenue $26.5 $32.8 Non-GAAP Product & Service Year-over-year growth (19)% margin 58.5% vs. 66.4% in 1Q21 Loss from operations (GAAP) (27.5) (19.3) Net loss (GAAP) (76.3) (18.8) Net loss
Slide 8: CEO Commentary
CEO Commentary Michael Egholm, PhD Standard BioTools
Slide 9: Closing Thoughts on Q1
Cl o si ng Th o ugh t s on 1 Q 2 0 2 2 At every end, there is also a beginning ... • Financial performance adversely impacted by: • Significantly lower COVID-19 testing revenue y/y • Disruptions in our U.S. sales force partly related to strategic process • Continued COVID-19 related disruptions in A
Slide 10: 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 11: Strategic Priorities
S t rategi c Pri ori t i es 1. Revenue 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. Improve Operating Discipline • Implement best-in-class processes to manage expenses and incre
Slide 12: Priority 1: Revenue Growth
Pr i or i t y 1 : Revenu e G row t h • Accelerate Growth in Mass Cytometry • Drive CyTOF XT™ adoption and broaden consumable offerings to improve pull-through • Execute on the launch of Hyperion™+ Imaging System, which has improved competitive position in the growing high-plex imaging market Jeremy
Slide 13: Priority 2: Improve Operating Discipline
Pr i or i t y 2 : I m prove O p erat ing D i sc i pl in e • Standard BioTools Business System (SBS) • Continuous improvement mindset; Kaizen! • Systematic approach to business operations based on Lean methodologies used by the highest-performing organizations in the world • Establishment of Standard
Slide 14: Priority 3: Strategic Capital Allocation
Pr i or i t y 3 : S t rategi c Ca p it al A l l o c at i on • Expand offerings to customers through complementary M&A • Target de-risked technologies with immediate revenue potential and validated market opportunity • Complementary assets that allow us to leverage existing infrastructure • Strict st
Slide 15: Unleashing tools to accelerate breakthroughs in human health
Unleashing tools to accelerate breakthroughs in human health
Slide 16: Q1 2022 Supplemental Financial Information
Q1 2022 | Supplemental Financial Information May 5, 2022 Standard BioTools
Slide 17: Q1 2022 Results: Revenue by Market and Category
Q1 2022 Results R e v e n u e b y m a r k e t a n d c a t e g o r y Total by Category Revenue by Category Year-Over-Year Change % of Total Revenue Instruments $7.5 million (2)% 28% Consumables $12.5 million (27)% 47% Service $6.1 million (2)% 24% Other $0.4 million (80)% 1% Total revenue $26.5 milli
Slide 18: Total Revenue
To t a l Revenue 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 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 –12% 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 4.8 4% Ser
Slide 19: Q1 2022 Revenue Profile
Q1 2022 Revenue Profile Category Market Geography Instruments Consumables Service Other Microfluidics Mass Cytometry Americas EMEA Asia-Pacific 1% 24% 19% 28% 48% 48% 52% 33% 47% Standard BioTools
Slide 20: Mass Cytometry
Mass Cytometry Instruments sold by quarter Active installed base as of March 31, 2022 2020 2021 2022 Mass Cytometry Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Helios™ 8 5 5 8 26 4 4 1 1 10 - 344 CyTOF XT - - - - - - 3 7 12 22 7 Mass Cytometry Hyperion Imaging System* 5 3 4 9 21 5 6 6 9 26 3 Imaging modules (s
Slide 21: Microfluidics
Microfluidics Instruments sold by quarter 2020 2021 2022 Number of Biomark and EP1 Microfluidics instruments enabled as of Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Biomark HD March 31, 2022 4 7 10 10 31 6 5 4 10 25 10 Biomark X - - - - - - - - - - 9 OEM instruments EP1™ - - - 1 - 2 - 4 - 7 2 - 2 4 18 1 37 1
Slide 22: Selected GAAP Financial Data
Selected GAAP Financial Data ($ in millions) Year-over-Year Change Product and Operating Cash and Cash Operating Loss Net Loss +$ –$ +% –% Service Margin Expenses Equivalents 55.3% $134.4 ($51.0) ($53.0) $69.5 FY 2020 N/A +0.6% –$18.2 –15.7% +$0.8 +1.5% +$11.8 +18.2% 55.7% $38.4 ($19.3) ($18.8) $50.
Slide 23: Selected Non-GAAP Financial Data
Selected Non-GAAP Financial Data ($ in millions) Year-over-Year Change Product and Operating Operating Loss Net Loss +$ –$ +% –% Service Margin Expenses 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 24: 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 25: 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 March 31, 2022 2021 Net loss (GAAP) $ (76,288) $ (18,821) Loss on forward sale of Series B Preferred Stock 37,792 — Change in fair value of bridge loans 10,655 — Stock-based compensatio
Slide 26: Reconciliation of GAAP to Non-GAAP Product and Service Margin and Operating Expenses
Reconciliation of GAAP to Non-GAAP Product and Service Margin and Operating Expenses PRODUCT AND SERVICE MARGIN ($ in thousands) Three Months Ended March 31, 2022 2021 Product and service gross profit (GAAP) $ 11,881 $ 17,261 Amortization of developed technology (a) 2,967 2,800 Depreciation and amor
Slide 27: 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 March 31, 2022 2021 Loss from operations (GAAP) $ (27,503) $ (19,320) Stock-based compensation expense 4,042 3,677 Amortization of developed technology (a) 2,967 2,983 Depreciation and am
Slide 28: Reconciliation of GAAP to Non-GAAP 2019–2021 Net Loss
Reconciliation of GAAP to Non-GAAP 2019–2021 Net Loss Twelve Months Ended December 31, NET LOSS ($ in thousands, except per share amounts) 2019 2020 2021 Net loss (GAAP) $ (64,790) $ (53,020) $ (59,237) Stock-based compensation expense 11,393 14,451 16,101 Amortization of developed technology (a) 11
Slide 29: Reconciliation of GAAP to Non-GAAP Product and Service Margin and Operating Expenses
Recon c i l i ati on o f GA AP to Non - GAAP 2 019 –2 021 Pro d uct a n d S er v ice M argin a n d O p erat ing E xp ens es PRODUCT AND SERVICE MARGIN ($ in thousands) Twelve Months Ended December 31, 2019 2020 2021 Product and service gross profit (GAAP) $ 63,729 $ 67,705 $ 65,085 Amortization of d
Slide 30: Reconciliation of GAAP to Non-GAAP 2019–2021 Loss from Operations
Reconciliation of GAAP to Non-GAAP 2019–2021 Loss from Operations LOSS FROM OPERATIONS ($ in thousands) Twelve Months Ended December 31, 2019 2020 2021 Loss from operations (GAAP) $ (51,839) $ (51,036) $ (67,459) Stock-based compensation expense 11,393 14,451 16,101 Amortization of developed technol
Slide 31: 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