Standard BioTools Reports Second Quarter 2025 Financial Results

SOUTH SAN FRANCISCO, Calif., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced financial results for the second quarter ended June 30, 2025. Standard BioTools will no longer host its second quarter 2025 earnings call, previously scheduled for Monday, August 11 at 4:30 p.m. ET. Recent Highlights: Second quarter 2025 total combined company revenue of $42.0 million; Revenue from continuing operations of $21.8 millionAnnounced strategic sale of SomaLogic to Illumina for up to $425 million in total cash consideration plus future royalties, expected to close in the first half of 2026$240 million in cash & cash equivalents as of June 30, 2025; At least $550 million in cash & cash equivalents expected at close of transaction with Illumina to fuel inorganic growth strategyTargeting adjusted EBITDA break-even in 2026 “The second quarter was a clear demonstration of our strategy in action. Our team delivered another solid quarter of performance, even as U.S. Academic spend remained under pressure, while taking meaningful steps to transform the business,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. “The announced sale of SomaLogic to Illumina marks a pivotal milestone in that evolution – unlocking up to $425 million in total cash consideration with additional upside levers and further validating the power of our model.” Egholm continued, “With at least $550 million in cash & cash equivalents expected at close and a simplified operating infrastructure, we are driving toward our profitability target in 2026. The combination of a strong balance sheet and a lean operating model positions us to continue playing offense — strategically deploying capital into high-quality, underappreciated assets – to drive scale, reignite growth and create long-term value for our shareholders.” Financial Results Table: Continuing Operations Three Months Ended June 30, Six Months Ended June 30, (Unaudited, in millions, except percentages)2025 2024 2025 2024 Revenue$21.8 $22.5 $42.0 $44.1 Gross margin 48.8% 46.1% 51.6% 48.5%Non-GAAP gross margin 54.1% 48.6% 55.6% 54.1%Operating expenses$36.3 $40.6 $74.3 $96.1 Non-GAAP operating expenses$27.9 $28.3 $53.5 $58.2 Operating loss$(25.7) $(30.3) $(52.7) $(74.7)Net loss from continuing operations$(17.7) $(25.4) $(41.0) $(41.8)Adjusted EBITDA$(16.1) $(17.4) $(30.2) $(34.3)Cash, cash equivalents, restricted cash, and short-term investments$239.7 $397.2 $239.7 $397.2 Second Quarter 2025 Financial Results: Continuing Operations Following the announced sale of SomaLogic in June 2025, all financial results in this section reflect continuing operations only. Revenue was $21.8 million in the second quarter of 2025, down 3% year-over-year, and $42 million for the first half of 2025, down 5% year-over-year: Consumables revenue was $10.5 million in the second quarter of 2025, up 18% year-over-year, and $18.6 million for the first half of 2025, down 3% year-over-year. Consumables revenue in the quarter increased across imaging, flow and microfluidics product lines.Instruments revenue was $5.2 million in the second quarter of 2025, down 26% year-over-year, and $11.9 million for the first half of 2025, down 1% year-over-year. Instrument revenue in the quarter was impacted by capital constrained end-markets globally.Services revenue, which is predominantly Field Services, was $6.1 million in the second quarter of 2025, down 8% year-over-year, and $11.5 million for the first half of 2025, down 11% year-over-year. Field Services revenue decreased due to fewer active service contracts and lower on-demand revenue driven by improved instrument quality and uptime. Gross margins in the second quarter of 2025 were approximately 48.8%, versus 46.1% in the second quarter of 2024; and non-GAAP gross margins in the second quarter of 2025 were approximately 54.1%, versus 48.6% in the second quarter of 2024. Gross margins in the first half of the year were 51.6% in 2025 and 48.5% in 2024; and non-GAAP gross margins were approximately 55.6% in the first half of 2025 and 54.1% for the same period in 2024. Gross margins and non-GAAP gross margins were driven by product mix and incremental improvements from Standard BioTools Business System (SBS).Operating expenses in the second quarter of 2025 were $36.3 million, a decrease of $4.3 million, or down 11%, compared to the second quarter of 2024; and non-GAAP operating expenses, which exclude transaction costs, stock-based compensation, and restructuring charges, were $27.9 million in the second quarter of 2025, a decrease of $0.4 million, or down 1%, compared to the second quarter of 2024. For the first half of 2025, operating expenses decreased by $21.8 million, or 23%, compared to the first half of 2024, to $74.3 million, while non-GAAP operating expenses decreased by $4.7 million, or 8%, compared to the same period in 2024, to $53.5 million. The decrease in operating expenses is a result of the realization of merger cost synergies and continued productivity gains from SBS.Net loss for the second quarter of 2025 was $17.7 million, compared to a net loss of $25.4 million in the second quarter of 2024, representing a decrease of $7.7 million or 31%, while adjusted EBITDA for the second quarter of 2025 was a loss of $16.1 million, versus an adjusted EBITDA loss of $17.4 million in the second quarter of 2024, an improvement of $1.2 million, or 7%. Net loss for the first half improved by $0.8 million at $41.0 million while adjusted EBITDA increased by $4.1 million, or 12%, compared to the first half of 2024, to a loss of $30.2 million. Full Year 2025 Revenue Outlook For fiscal year 2025, the Company expects combined revenue in the range of $165 million to $175 million. Revenue from continuing operations is expected in the range of $78 million to $83 million. This combined outlook continues to assume a high single-digit millions decline in our Americas academic revenue due to anticipated NIH funding pressures, with a more pronounced impact on our continuing operations. It also assumes no expected effect from U.S. export controls and limited impact from tariffs. Conference Call Information Standard BioTools will no longer host its second quarter 2025 earnings call, previously scheduled for Monday, August 11 at 4:30 p.m. ET. In connection with the pending sale of SomaLogic and operational focus, the Company is temporarily pausing earnings conference calls until further notice. All financial results and related disclosures are available in this press release and will be available in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. Use of Non-GAAP Financial Information Standard BioTools has presented certain financial information in accordance with U.S. GAAP and on a non-GAAP basis. The non-GAAP financial measures included in this press release are non-GAAP gross margin, non-GAAP gross profit, non-GAAP operating expenses, and adjusted EBITDA. Management uses these non-GAAP financial measures, in addition to GAAP financial measures, as a measure of operating performance because the non-GAAP financial measures do not include the impact of items that management does not consider indicative of the Company’s core operating performance. Management believes that non-GAAP financial measures, taken in conjunction with GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of the Company’s core operating results. Management uses non-GAAP measures to compare the Company’s performance relative to forecasts and strategic plans and to benchmark the Company’s performance externally against competitors. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of the Company’s operating results as reported under U.S. GAAP. Standard BioTools encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliations between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP operating results are presented in the accompanying tables of this release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding future financial and business performance, including with respect to future revenue and expected cash at the closing of the transaction with Illumina; operational and strategic plans; deployment of capital; market and growth opportunity and potential; and the potential to realize the expected benefits and synergies of prior and potential future acquisitions, including the potential for such transactions to drive long-term profitable growth. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including, but not limited to, risks that the anticipated benefits and synergies of announced divestures and prior and potential future acquisitions and the integration of any such businesses, including the potential for such transactions to drive long-term profitable growth, may not be fully realized or may take longer to realize than expected; risks that the Company may not realize expected cost savings from such transactions; possible integration, restructuring and transition-related disruption resulting from such transactions, including through the loss of customers, suppliers, and employees and adverse impacts on the Company’s development activities and results of operation; the timing of the closing of the transaction with Illumina and the operating expenses over the intervening period; integration and restructuring activities, including customer and employee relations, management distraction, and reduced operating performance; risks that internal and external costs required for ongoing and planned activities may be higher than expected, which may cause the Company to use cash more quickly than it expects or change or curtail some of the Company’s plans, or both; risks that the Company’s expectations as to expenses, cash usage, and cash needs may prove not to be correct for other reasons such as changes in plans or actual events being different than our assumptions; changes in the Company’s business or external market conditions; anticipated NIH funding pressures; the expected effect from U.S. export controls and the expected impact from tariffs; challenges inherent in developing, manufacturing, launching, marketing, and selling new products; interruptions or delays in the supply of components or materials for, or manufacturing of, the Company’s products; reliance on sales of capital equipment for a significant proportion of revenues in each quarter; seasonal variations in customer operations; unanticipated increases in costs or expenses; continued or sustained budgetary, inflationary, or recessionary pressures; uncertainties in contractual relationships; reductions in research and development spending or changes in budget priorities by customers; uncertainties relating to the Company’s research and development activities, and distribution plans and capabilities; potential product performance and quality issues; risks associated with international operations; intellectual property risks; and competition. For information regarding other related risks, see the “Risk Factors” section of the Company’s annual report on Form 10-K filed with the SEC on March 11, 2025, the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2025 to be filed with the SEC, and in the Company’s other filings with the SEC. These forward-looking statements speak only as of the date hereof. The Company disclaims any obligation to update these forward-looking statements except as may be required by law. About Standard BioTools Inc. Standard BioTools Inc. (Nasdaq: LAB), has an established portfolio of essential, standardized next-generation technologies that help biomedical researchers develop better medicines faster. As a leading solutions provider, the company provides reliable and repeatable insights in health and disease using its proprietary SomaScan, mass cytometry and microfluidics technologies, which help transform scientific discoveries into better patient outcomes. Standard BioTools works with leading academic, government, pharmaceutical, biotechnology, plant and animal research and clinical laboratories worldwide, focusing on the most pressing needs in translational and clinical research, including oncology, immunology and immunotherapy. Learn more at standardbio.com or connect with us on X, Facebook®, LinkedIn, and YouTube™. For Research Use Only. Not for use in diagnostic procedures. Limited Use Label License and other terms may apply: standardbio.com/legal/salesterms.Patent and License Information: standardbio.com/legal/notices. Trademarks: standardbio.com/legal/trademarks. Any other trademarks are the sole property of their respective owners. ©2025 Standard BioTools Inc. (f.k.a. Fluidigm Corporation). All rights reserved. Investor Contact:ir@standardbio.com STANDARD BIOTOOLS INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSContinuing Operations(In thousands, except per share amounts)(Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue: Product revenue $15,673 $15,894 $30,454 $31,208 Services and other revenue 6,089 6,598 11,530 12,937 Total revenue 21,762 22,492 41,984 44,145 Cost of revenue: Cost of product revenue 7,608 7,771 14,039 15,617 Cost of services and other revenue 3,526 4,347 6,268 7,129 Total cost of revenue 11,134 12,118 20,307 22,746 Gross profit 10,628 10,374 21,677 21,399 Operating expenses: Research and development 6,222 7,244 11,662 14,852 Selling, general and administrative 28,105 24,860 57,929 51,274 Restructuring and related charges 1,727 5,749 3,279 10,033 Transaction and integration expenses 271 2,782 1,474 19,945 Total operating expenses 36,325 40,635 74,344 96,104 Loss from continuing operations (25,697) (30,261) (52,667) (74,705)Bargain purchase gain — — — 25,213 Interest income 2,461 5,302 5,377 11,509 Interest expense (9) (858) (11) (1,891)Other income (expense), net 4,963 412 5,530 (1,822)Loss from continuing operations before income taxes (18,282) (25,405) (41,771) (41,696)Income tax benefit (expense) 609 (39) 728 (152)Net loss from continuing operations (17,673) (25,444) (41,043) (41,848)Discontinued operations: Loss from discontinued operations, net of tax (15,786) (20,274) (18,449) (36,027)Net loss (33,459) (45,718) (59,492) (77,875)Induced conversion of redeemable preferred stock — — — (46,014)Net loss attributable to common stockholders $(33,459) $(45,718) $(59,492) $(123,889)Net loss per share from continuing operations, basic and diluted $(0.05) $(0.07) $(0.11) $(0.26)Net loss per share from discontinued operations, basic and diluted $(0.04) $(0.05) $(0.05) $(0.11)Net loss per share attributable to common stockholders, basic and diluted $(0.09) $(0.12) $(0.16) $(0.37)Shares used in computing net loss per share attributable to common stockholders, basic and diluted 380,498 372,331 379,369 333,228 STANDARD BIOTOOLS INC.CONDENSED CONSOLIDATED BALANCE SHEETSContinuing Operations(In thousands)(Unaudited) June 30, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $158,617 $166,728 Short-term investments 78,468 126,146 Accounts receivable, net 14,612 14,741 Inventory 24,170 20,744 Prepaid expenses and other current assets 7,081 4,561 Current assets held for sale 223,089 42,963 Total current assets 506,037 375,883 Property and equipment, net 22,678 22,775 Operating lease right-of-use asset, net 24,568 26,567 Other non-current assets 3,682 3,688 Non-current assets held for sale — 183,432 Total assets $556,965 $612,345 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $7,329 $5,049 Accrued liabilities 24,207 21,435 Operating lease liabilities, current 5,094 4,806 Deferred revenue, current 40,167 10,274 Deferred grant income, current 3,243 3,527 Current liabilities held for sale 17,984 20,804 Total current liabilities 98,024 65,895 Convertible notes, non-current 299 299 Deferred tax liability 1,081 1,081 Operating lease liabilities, non-current 23,223 25,590 Deferred revenue, non-current 2,786 32,674 Deferred grant income, non-current 5,767 7,243 Other non-current liabilities 1,250 1,062 Non-current liabilities held for sale — 6,779 Total liabilities 132,430 140,623 Total stockholders’ equity 424,535 471,722 Total liabilities and stockholders’ equity $556,965 $612,345 STANDARD BIOTOOLS INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)(Unaudited) Six Months Ended June 30, 2025 2024 Operating activities Net loss $(59,492) $(77,875)Bargain purchase gain — (25,213)Stock-based compensation expense 15,396 18,341 Amortization of acquired intangible assets 1,715 2,822 Depreciation and amortization 6,450 6,228 Accretion of discount on short-term investments, net (1,571) (4,544)Non-cash lease expense 2,865 2,949 Provision for excess and obsolete inventory 1,360 1,874 Change in fair value of warrants (232) (453)Change in fair value of contingent consideration (3,400) — Other non-cash items 477 868 Changes in assets and liabilities, net (14,519) (26,523)Net cash used in operating activities (50,951) (101,526) Investing activities Cash and restricted cash acquired in merger — 280,033 Purchases of short-term investments (50,929) (147,984)Proceeds from sales and maturities of investments 100,000 239,000 Purchases of property and equipment (6,941) (2,718)Net cash provided by investing activities 42,130 368,331 Financing activities Repayment of term loan and convertible notes — (8,192)Payment of term loan fee — (545)Repurchase of common stock — (40,490)Proceeds from ESPP stock issuance 308 425 Payments for taxes related to net share settlement of equity awards and other (246) (344)Proceeds from exercise of stock options — 1,052 Net cash provided by (used in) financing activities 62 (48,094)Effect of foreign exchange rate fluctuations on cash and cash equivalents 1,145 (110)Net (decrease) increase in cash, cash equivalents and restricted cash (7,614) 218,601 Cash, cash equivalents and restricted cash at beginning of period 168,818 52,499 Cash, cash equivalents and restricted cash at end of period $161,204 $271,100 Cash, cash equivalents, and restricted cash consists of: Cash and cash equivalents $158,617 $269,811 Restricted cash 2,587 1,289 Total cash, cash equivalents and restricted cash $161,204 $271,100 STANDARD BIOTOOLS INC.REVENUEContinuing Operations(In thousands)(Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Product revenue: Instruments $5,215 $7,047 $11,861 $11,950 Consumables 10,458 8,847 18,593 19,258 Total product revenue 15,673 15,894 30,454 31,208 Services and other revenue 6,089 6,598 11,530 12,937 Total revenue $21,762 $22,492 $41,984 $44,145 STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONContinuing Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GROSS PROFIT TO NON-GAAP GROSS PROFIT AND MARGIN PERCENTAGE Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Gross profit $10,628 $10,374 $21,677 $21,399 Amortization of acquired intangible assets — 3 — 1,407 Depreciation and amortization 554 332 817 699 Stock-based compensation expense 402 221 644 383 Loss on disposal of property and equipment 187 — 187 — Cost of sales adjustment — — — — Non-GAAP gross profit $11,771 $10,930 $23,325 $23,888 Gross margin percentage 48.8% 46.1% 51.6% 48.5%Amortization of acquired intangible assets — — — 3.1%Depreciation and amortization 2.6% 1.5% 2.0% 1.6%Stock-based compensation expense 1.8% 1.0% 1.6% 0.9%Loss on disposal of property and equipment 0.9% — 0.4% — Cost of sales adjustment — — — — Non-GAAP gross margin percentage 54.1% 48.6% 55.6% 54.1% STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONContinuing Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Operating expenses $36,325 $40,635 $74,344 $96,104 Restructuring and related charges (1,727) (5,749) (3,279) (10,033)Transaction and integration expenses (271) (2,782) (1,474) (19,945)Stock-based compensation expense (4,970) (3,189) (12,777) (6,595)Amortization of acquired intangible assets — 77 — — Depreciation and amortization (1,451) (674) (3,277) (1,295)Loss on disposal of property and equipment — (9) — (23)Non-GAAP operating expenses $27,906 $28,309 $53,537 $58,213 R&D operating expenses $6,222 $7,244 $11,662 $14,852 Stock-based compensation expense (481) (238) (820) (644)Depreciation and amortization (630) (130) (769) (289)Gain on disposal of property and equipment 56 — 28 — Non-GAAP R&D operating expenses $5,167 $6,876 $10,101 $13,919 SG&A operating expenses $28,105 $24,860 $57,929 $51,274 Stock-based compensation expense (4,489) (2,951) (11,957) (5,951)Amortization of acquired intangible assets — 77 — — Depreciation and amortization (821) (544) (2,508) (1,006)Loss on disposal of property and equipment (56) (9) (28) (23)Non-GAAP SG&A operating expenses $22,739 $21,433 $43,436 $44,294 STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONContinuing Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $(17,673) $(25,444) $(41,043) $(41,848)Income tax (benefit) expense (609) 39 (728) 152 Interest income (2,461) (5,302) (5,377) (11,509)Interest expense 9 858 11 1,891 Amortization of acquired intangible assets — (74) — 1,407 Depreciation and amortization 2,005 1,006 4,094 1,994 Bargain purchase gain — — — (25,213)Restructuring and related charges 1,727 5,749 3,279 10,033 Transaction and integration expenses 271 2,782 1,474 19,945 Stock-based compensation expense 5,372 3,410 13,421 6,978 Cost of sales adjustment — — — — Loss on disposal of property and equipment 187 9 187 23 Other non-operating (income) expense (4,963) (412) (5,530) 1,822 Adjusted EBITDA $(16,135) $(17,379) $(30,212) $(34,325) STANDARD BIOTOOLS INC.Condensed Results of OperationsDiscontinued Operations(In thousands)(Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $20,200 $14,713 $40,773 $38,600 Cost of revenue 11,552 10,176 23,432 20,904 Selling, general and administrative expenses 8,216 12,849 17,099 33,378 Research and development 5,850 11,977 11,738 20,350 Transaction and integration expenses 10,507 - 10,507 - Other (income) expense, net (139) (15) (3,554) (5)Total expenses $35,986 $34,987 $59,222 $74,627 Loss from discontinued operations $(15,786) $(20,274) $(18,449) $(36,027) STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONDiscontinued Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GROSS PROFIT TO NON-GAAP GROSS PROFIT AND MARGIN PERCENTAGE Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Gross profit $8,649 $4,534 $17,342 $17,697 Amortization of acquired intangible assets 653 552 1,370 1,104 Depreciation and amortization 879 635 1,352 1,292 Stock-based compensation expense 161 73 414 150 Loss on disposal of property and equipment 26 — 58 — Cost of sales adjustment — — — (1,812)Non-GAAP gross profit $10,368 $5,794 $20,536 $18,431 Gross margin percentage 42.8% 30.8% 42.5% 45.8%Amortization of acquired intangible assets 3.2% 3.8% 3.5% 2.9%Depreciation and amortization 4.4% 4.3% 3.3% 3.3%Stock-based compensation expense 0.8% 0.5% 1.0% 0.4%Loss on disposal of property and equipment 0.1% — 0.1% — Cost of sales adjustment — — — (4.7)%Non-GAAP gross margin percentage 51.3% 39.4% 50.4% 47.7% STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONDiscontinued Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Operating expenses $24,756 $24,792 $39,448 $53,693 Restructuring and related charges (104) — (104) — Transaction and integration expenses (10,507) — (10,507) — Stock-based compensation expense (852) (3,247) (1,561) (11,213)Amortization of acquired intangible assets (164) (238) (345) (311)Depreciation and amortization (293) (1,498) (1,004) (2,942)Loss on disposal of property and equipment (36) (362) (190) (362)Non-GAAP operating expenses $12,800 $19,447 $25,737 $38,865 R&D operating expenses $5,850 $11,978 $11,738 $20,350 Stock-based compensation expense (479) (2,190) (881) (3,112)Depreciation and amortization (392) (658) (843) (1,370)Loss on disposal of property and equipment (26) — (166) — Non-GAAP R&D operating expenses $4,953 $9,130 $9,848 $15,868 SG&A operating expenses $8,295 $12,814 $17,099 $33,343 Stock-based compensation expense (373) (1,057) (680) (8,101)Amortization of acquired intangible assets (164) (238) (345) (311)Depreciation and amortization 99 (840) (161) (1,572)Loss on disposal of property and equipment (10) (362) (24) (362)Non-GAAP SG&A operating expenses $7,847 $10,317 $15,889 $22,997 STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONDiscontinued Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $(15,786) $(20,274) $(18,449) $(36,027)Income tax (benefit) expense (125) 16 (157) 31 Interest income — — — — Interest expense — — — — Amortization of acquired intangible assets 817 790 1,715 1,415 Depreciation and amortization 1,172 2,133 2,356 4,234 Bargain purchase gain — — — — Restructuring and related charges 104 — 104 — Transaction and integration expenses 10,507 — 10,507 — Stock-based compensation expense 1,013 3,320 1,975 11,363 Cost of sales adjustment — — — (1,812)Loss on disposal of property and equipment 62 362 248 362 Other non-operating (income) expense (196) — (3,500) — Adjusted EBITDA $(2,432) $(13,653) $(5,201) $(20,434) STANDARD BIOTOOLS INC.Condensed Combined Results of OperationsContinuing Operations and Discontinued Operations(In thousands)(Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $41,962 $37,205 $82,757 $82,745 Cost of revenue 22,686 22,294 43,739 43,650 Selling, general and administrative expenses 36,321 37,709 75,028 84,652 Research and development 12,072 19,221 23,400 35,202 Transaction and integration expenses 10,778 2,782 11,981 19,945 Restructuring 1,727 5,749 3,279 10,033 Other (income) expense, net (8,163) (4,832) (15,178) (32,862)Total expenses $75,421 $82,923 $142,249 $160,620 Net loss $(33,459) $(45,718) $(59,492) $(77,875) STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONContinuing Operations and Discontinued Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GROSS PROFIT TO NON-GAAP GROSS PROFIT AND MARGIN PERCENTAGE Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Gross profit $19,277 $14,908 $39,019 $39,096 Amortization of acquired intangible assets 653 555 1,370 2,511 Depreciation and amortization 1,433 967 2,169 1,991 Stock-based compensation expense 563 294 1,058 533 Loss on disposal of property and equipment 213 — 245 — Cost of sales adjustment — — — (1,812)Non-GAAP gross profit $22,139 $16,724 $43,861 $42,319 Gross margin percentage 45.9% 40.1% 47.1% 47.2%Amortization of acquired intangible assets 1.6% 1.5% 1.7% 3.0%Depreciation and amortization 3.5% 2.6% 2.6% 2.4%Stock-based compensation expense 1.3% 0.8% 1.3% 0.6%Loss on disposal of property and equipment 0.5% — 0.3% — Cost of sales adjustment — — — (2.1)%Non-GAAP gross margin percentage 52.8% 45.0% 53.0% 51.1% STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONContinuing Operations and Discontinued Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Operating expenses $61,081 $65,427 $113,792 $149,797 Restructuring and related charges (1,831) (5,749) (3,383) (10,033)Transaction and integration expenses (10,778) (2,782) (11,981) (19,945)Stock-based compensation expense (5,822) (6,436) (14,338) (17,808)Amortization of acquired intangible assets (164) (161) (345) (311)Depreciation and amortization (1,744) (2,172) (4,281) (4,237)Loss on disposal of property and equipment (36) (371) (190) (385)Non-GAAP operating expenses $40,706 $47,756 $79,274 $97,078 R&D operating expenses $12,072 $19,222 $23,400 $35,202 Stock-based compensation expense (960) (2,428) (1,701) (3,756)Depreciation and amortization (1,022) (788) (1,612) (1,659)Loss on disposal of property and equipment 30 — (138) — Non-GAAP R&D operating expenses $10,120 $16,006 $19,949 $29,787 SG&A operating expenses $36,400 $37,674 $75,028 $84,617 Stock-based compensation expense (4,862) (4,008) (12,637) (14,052)Amortization of acquired intangible assets (164) (161) (345) (311)Depreciation and amortization (722) (1,384) (2,669) (2,578)Loss on disposal of property and equipment (66) (371) (52) (385)Non-GAAP SG&A operating expenses $30,586 $31,750 $59,325 $67,291 STANDARD BIOTOOLS INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATIONContinuing Operations and Discontinued Operations(In thousands)(Unaudited)ITEMIZED RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $(33,459) $(45,718) $(59,492) $(77,875)Income tax (benefit) expense (734) 55 (885) 183 Interest income (2,461) (5,302) (5,377) (11,509)Interest expense 9 858 11 1,891 Amortization of acquired intangible assets 817 716 1,715 2,822 Depreciation and amortization 3,177 3,139 6,450 6,228 Bargain purchase gain — — — (25,213)Restructuring and related charges 1,831 5,749 3,383 10,033 Transaction and integration expenses 10,778 2,782 11,981 19,945 Stock-based compensation expense 6,385 6,730 15,396 18,341 Cost of sales adjustment — — — (1,812)Loss on disposal of property and equipment 249 371 435 385 Other non-operating (income) expense (5,159) (412) (9,030) 1,822 Adjusted EBITDA $(18,567) $(31,032) $(35,413) $(54,759)

Standard BioTools Reports Second Quarter 2025 Financial Results

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