Standard BioTools Inc. reported a decline in financial performance for the third quarter of 2025, with total revenue of $19.6 million, down 11% from $22.1 million in the same period last year. For the nine months ending September 30, 2025, revenue also decreased by 7% to $61.5 million compared to $66.2 million in 2024. The decrease in revenue was primarily attributed to a $1.8 million drop in consumables sales, alongside declines in service and product revenues, reflecting ongoing macroeconomic pressures that have constrained customer spending and delayed purchasing decisions.
The company's gross profit for the third quarter fell to $9.5 million, a 22% decrease from $12.1 million in the prior year, resulting in a gross margin of 48.5%. Operating expenses increased to $42.4 million, up 9% year-over-year, driven by higher selling, general, and administrative costs, as well as restructuring charges related to workforce reductions and facility consolidations. The net loss attributable to common stockholders for the third quarter was $34.7 million, compared to a loss of $26.9 million in the same quarter of 2024. For the nine-month period, the net loss was $94.2 million, a decrease from $104.8 million in the previous year.
In terms of strategic developments, Standard BioTools is in the process of divesting its SomaScan business to Illumina, with the transaction expected to close in the first half of 2026. The deal, valued at up to $425 million, includes an upfront payment of $350 million and potential earnout payments based on future performance. This divestiture is part of a broader strategy to streamline operations and focus on core business areas, including mass cytometry and microfluidics, which will remain with the company.
Operationally, the company has seen a significant restructuring, consolidating its research and development capabilities from South San Francisco to Singapore, which is expected to enhance operational efficiency. The workforce reduction impacted approximately 20% of the global staff, and the company anticipates ongoing restructuring expenses. As of September 30, 2025, Standard BioTools reported total assets of $539.6 million, down from $612.3 million at the end of 2024, with cash and cash equivalents decreasing to $129.4 million.
Looking ahead, Standard BioTools aims to improve its financial performance by enhancing product adoption and expanding its customer base. The company plans to continue investing in research and development to drive innovation and improve operational efficiencies. However, management acknowledges that future revenue may be influenced by macroeconomic conditions, customer spending patterns, and the timing of new contracts. The company remains focused on executing its strategic initiatives while navigating the challenges posed by the current market environment.
About STANDARD BIOTOOLS INC.
Standard BioTools Inc. develops and commercializes advanced life science tools in proteomics and genomics, including instruments, consumables, and services for biomedical research, drug discovery, and clinical applications. Its platforms—SomaScan, CyTOF, Hyperion, and Biomark—enable high-throughput, precise molecular analysis across diverse therapeutic areas. The company serves research institutions, biopharma, and clinical labs worldwide, leveraging proprietary technologies and strategic acquisitions to accelerate biological insights and health innovations.
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