Standard BioTools Reports Third Quarter 2025 Financial Results

SOUTH SAN FRANCISCO, Calif., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced financial results for the quarter ended September 30, 2025. Recent Highlights: Third quarter 2025 total combined company revenue of $46.2 million; Revenue from continuing operations of $19.6 millionImplemented restructuring plan expected to deliver over $40 million in annualized cost savings; On track to achieve positive adjusted EBITDA target in 2026$217.0 million in cash & cash equivalents as of September 30, 2025; Approximately $550 million in cash & cash equivalents expected at close of transaction with Illumina in first half of 2026 to fuel inorganic growth strategy “The third quarter marked another period of solid execution as we sharpen our focus and position Standard BioTools for the next stage,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. “Our commercial team delivered consistent overall performance amid a still-evolving macro environment, and with cost savings initiatives beginning to take hold, we are simplifying operations, increasing productivity and driving the go-forward business toward profitability expected in 2026. Combined with a strong balance sheet at quarter end and the significant cash injection expected from the pending Illumina transaction, we are well positioned to expand our portfolio through strategic M&A that we believe will fuel growth and deliver long-term value for our shareholders.” Operational Restructuring In September, as previously disclosed in the Company’s SEC filings, the Company implemented a phased operational restructuring plan expected to deliver over $40 million in total annualized cost savings, to be fully realized in 2026. The plan included an aggregate reduction-in-force of approximately 20% of its global workforce as well as initiatives designed to increase operating efficiency, reduce costs, and align resources with the Company’s long-term strategic objectives. These actions reinforce the Company’s path to generating positive adjusted EBITDA expected in 2026. “Given the current operating environment, these decisions were important to keep our organization lean, focused and positioned to emerge stronger tomorrow than we are today,” said Alex Kim, Chief Financial Officer of Standard BioTools. “I want to sincerely thank our departing colleagues for their contributions as we take these steps to secure the long-term success of Standard BioTools – delivering innovative solutions to our customers as they advance science and improve human health.” The cost savings initiative, together with the continued application of the Standard BioTools Business System (SBS), is expected to generate efficiencies across sales and marketing, research and development, and general and administrative functions. As previously announced, Standard BioTools will consolidate its South San Francisco operations into its Singapore facility, co-locating research and development with manufacturing. As part of this transition, the Company also plans to establish its global headquarters in Boston. Financial Results Table: Continuing Operations Three Months Ended September 30, Nine Months Ended September 30, (Unaudited, in millions, except percentages)2025 2024 2025 2024 Revenue$19.6 $22.1 $61.5 $66.2 Gross margin 48.5% 54.9% 50.6% 50.6%Non-GAAP gross margin 53.5% 57.3% 54.9% 55.2%Operating expenses$42.4 $38.8 $116.8 $134.9 Non-GAAP operating expenses$27.0 $26.3 $80.5 $84.5 Operating loss$(32.9) $(26.7) $(85.6) $(101.4)Net loss from continuing operations$(31.7) $(21.9) $(72.7) $(63.8)Adjusted EBITDA$(16.5) $(13.7) $(46.8) $(48.0)Cash, cash equivalents, restricted cash, short-term and long-term investments$217.0 $338.1 $217.0 $338.1 Third Quarter 2025 Financial Results: Continuing Operations Following the announced sale of SomaLogic, Inc. (“SomaLogic”) and other specified assets to Illumina, Inc. (“Illumina”) in June 2025, all financial results in this section reflect continuing operations only. Revenue was $19.6 million in the third quarter of 2025, down 11% year-over-year. Consumables revenue was $8.7 million in the third quarter of 2025, down 17% year-over-year. Lower consumables revenue in the quarter reflected project funding declines in flow and microfluidics, partially offset by growth in imaging.Instruments revenue was $5.1 million in the third quarter of 2025, down 3% year-over-year. Instrument revenue in the quarter reflected growth in imaging but overall remained impacted by capital-constrained end-markets globally.Services revenue, which is predominantly Field Services, was $5.8 million in the third quarter of 2025, down 9% 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 third quarter of 2025 were approximately 48.5%, versus 54.9% in the third quarter of 2024; and non-GAAP gross margins in the third quarter of 2025 were approximately 53.5%, versus 57.3% in the third quarter of 2024. Gross margins and non-GAAP gross margins were driven by volume and product mix.Operating expenses in the third quarter of 2025 were $42.4 million, an increase of $3.6 million, or up 9%, compared to the third quarter of 2024. Operating expenses included $9.4 million in restructuring and related charges. Non-GAAP operating expenses, which exclude transaction costs, stock-based compensation, and restructuring charges, were $27.0 million in the third quarter of 2025, an increase of $0.7 million, or up 3%, compared to the third quarter of 2024. The increase in operating expenses is due to the reclassification of SomaLogic as discontinued operations and the retention of shared corporate costs within continuing operations, more than offsetting lower R&D expenses and continued productivity gains from SBS.Net loss for the third quarter of 2025 was $31.7 million, compared to a net loss of $21.9 million in the third quarter of 2024, representing an increase of $9.8 million or 45%, while adjusted EBITDA for the third quarter of 2025 was a loss of $16.5 million, versus an adjusted EBITDA loss of $13.7 million in the third quarter of 2024, an increase of $2.9 million, or 21%. Full Year 2025 Revenue Outlook For fiscal year 2025, the Company continues to expect combined revenue in the range of $165 million to $175 million. Revenue from continuing operations is expected to be in the range of $78 million to $83 million. 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, including potential cost savings from the operational restructuring plan and the timing for realizing such cost savings; 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, for the year ended December 31, 2024, filed with the SEC on March 11, 2025, the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 15, 2025, 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Revenue: Product revenue $13,800 $15,779 $44,254 $46,987 Services and other revenue 5,752 6,307 17,282 19,244 Total revenue 19,552 22,086 61,536 66,231 Cost of revenue: Cost of product revenue 6,728 6,159 20,767 21,775 Cost of services and other revenue 3,340 3,801 9,608 10,930 Total cost of revenue 10,068 9,960 30,375 32,705 Gross profit 9,484 12,126 31,161 33,526 Operating expenses: Research and development 6,356 6,939 18,018 21,791 Selling, general and administrative 26,595 24,466 84,524 75,740 Restructuring and related charges 9,428 2,341 12,707 12,374 Transaction and integration expenses 43 5,079 1,517 25,024 Total operating expenses 42,422 38,825 116,766 134,929 Loss from continuing operations (32,938) (26,699) (85,605) (101,403)Bargain purchase gain — — — 25,213 Interest income 2,140 4,794 7,517 16,303 Interest expense (10) (853) (21) (2,744)Other income (expense), net (2,092) 957 3,438 (865)Loss from continuing operations before income taxes (32,900) (21,801) (74,671) (63,496)Income tax benefit (expense) 1,216 (118) 1,944 (270)Net loss from continuing operations (31,684) (21,919) (72,727) (63,766)Discontinued operations: Loss from discontinued operations, net of tax (3,003) (5,019) (21,452) (41,047)Net loss (34,687) (26,938) (94,179) (104,813)Induced conversion of redeemable preferred stock — — — (46,014)Net loss attributable to common stockholders $(34,687) $(26,938) $(94,179) $(150,827)Net loss per share from continuing operations, basic and diluted $(0.08) $(0.06) $(0.19) $(0.32)Net loss per share from discontinued operations, basic and diluted $(0.01) $(0.01) $(0.06) $(0.12)Net loss per share attributable to common stockholders, basic and diluted $(0.09) $(0.07) $(0.25) $(0.44)Shares used in computing net loss per share attributable to common stockholders, basic and diluted 382,630 371,538 380,468 346,093 STANDARD BIOTOOLS INC.CONDENSED CONSOLIDATED BALANCE SHEETSContinuing Operations(In thousands)(Unaudited) September 30, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $129,418 $166,728 Short-term investments 65,485 126,146 Accounts receivable, net 13,536 14,741 Inventory 25,418 20,744 Prepaid expenses and other current assets 7,906 4,561 Current assets held for sale 230,676 42,963 Total current assets 472,439 375,883 Property and equipment, net 20,738 22,775 Operating lease right-of-use asset, net 23,453 26,567 Other non-current assets 3,521 3,688 Long-term investments 19,485 — Non-current assets held for sale — 183,432 Total assets $539,636 $612,345 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $6,619 $5,049 Accrued liabilities 30,810 21,435 Operating lease liabilities, current 5,113 4,806 Deferred revenue, current 40,111 10,274 Deferred grant income, current 3,098 3,527 Current liabilities held for sale 22,214 20,804 Total current liabilities 107,965 65,895 Convertible notes, non-current 299 299 Deferred tax liability 1,139 1,081 Operating lease liabilities, non-current 21,977 25,590 Deferred revenue, non-current 2,366 32,674 Deferred grant income, non-current 5,031 7,243 Other non-current liabilities 1,200 1,062 Non-current liabilities held for sale — 6,779 Total liabilities 139,977 140,623 Total stockholders’ equity 399,659 471,722 Total liabilities and stockholders’ equity $539,636 $612,345 STANDARD BIOTOOLS INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited) Nine Months Ended September 30, 2025 2024 Operating activities Net loss $(94,179) $(104,813)Bargain purchase gain — (25,213)Stock-based compensation expense 23,870 24,262 Amortization of acquired intangible assets 1,715 3,533 Depreciation and amortization 7,971 9,375 Accretion of discount on short-term investments, net (2,182) (6,303)Non-cash lease expense 4,435 4,348 Provision for excess and obsolete inventory 1,975 1,991 Change in fair value of warrants (232) (474)Change in fair value of contingent consideration (3,400) — Other non-cash items 922 1,111 Changes in assets and liabilities, net (14,048) (37,212)Net cash used in operating activities (73,153) (129,395) Investing activities Cash and restricted cash acquired in merger — 280,033 Purchases of short-term investments (91,241) (226,612)Purchases of long-term investments (19,483) — Proceeds from sales and maturities of investments 154,000 289,000 Purchases of property and equipment (7,827) (4,973)Net cash provided by investing activities 35,449 337,448 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 (358) (414)Proceeds from exercise of stock options — 1,120 Net cash provided by (used in) financing activities (50) (48,096)Effect of foreign exchange rate fluctuations on cash and cash equivalents 942 (518)Net (decrease) increase in cash, cash equivalents and restricted cash (36,812) 159,439 Cash, cash equivalents and restricted cash at beginning of period 168,818 52,499 Cash, cash equivalents and restricted cash at end of period $132,006 $211,938 Cash, cash equivalents, and restricted cash consists of: Cash and cash equivalents $129,418 $210,647 Restricted cash 2,588 1,291 Total cash, cash equivalents and restricted cash $132,006 $211,938 STANDARD BIOTOOLS INC.REVENUEContinuing Operations(In thousands)(Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Product revenue: Instruments $5,095 $5,271 $16,956 $17,221 Consumables 8,705 10,508 27,298 29,766 Total product revenue 13,800 15,779 44,254 46,987 Services and other revenue 5,752 6,307 17,282 19,244 Total revenue $19,552 $22,086 $61,536 $66,231 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Gross profit $9,484 $12,126 $31,161 $33,526 Amortization of acquired intangible assets — — — 1,407 Depreciation and amortization 590 318 1,407 1,017 Stock-based compensation expense 386 218 1,030 601 Loss on disposal of property and equipment — — 187 — Cost of sales adjustment — — — — Non-GAAP gross profit $10,460 $12,662 $33,785 $36,551 Gross margin percentage 48.5% 54.9% 50.6% 50.6%Amortization of acquired intangible assets — — — 2.2%Depreciation and amortization 3.0% 1.4% 2.3% 1.5%Stock-based compensation expense 2.0% 1.0% 1.7% 0.9%Loss on disposal of property and equipment — — 0.3% — Cost of sales adjustment — — — — Non-GAAP gross margin percentage 53.5% 57.3% 54.9% 55.2% 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Operating expenses $42,422 $38,825 $116,766 $134,929 Restructuring and related charges (9,428) (2,341) (12,707) (12,374)Transaction and integration expenses (43) (5,079) (1,517) (25,024)Stock-based compensation expense (4,938) (4,431) (17,715) (11,026)Amortization of acquired intangible assets — — — — Depreciation and amortization (1,009) (650) (4,286) (1,945)Loss on disposal of property and equipment — (4) — (27)Non-GAAP operating expenses $27,004 $26,320 $80,541 $84,533 R&D operating expenses $6,356 $6,939 $18,018 $21,791 Stock-based compensation expense (497) (403) (1,317) (1,047)Depreciation and amortization (228) (148) (997) (437)Gain on disposal of property and equipment — — 28 — Non-GAAP R&D operating expenses $5,631 $6,388 $15,732 $20,307 SG&A operating expenses $26,595 $24,466 $84,524 $75,740 Stock-based compensation expense (4,441) (4,028) (16,398) (9,979)Amortization of acquired intangible assets — — — — Depreciation and amortization (781) (502) (3,289) (1,508)Loss on disposal of property and equipment — (4) (28) (27)Non-GAAP SG&A operating expenses $21,373 $19,932 $64,809 $64,226 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net loss $(31,684) $(21,919) $(72,727) $(63,766)Income tax (benefit) expense (1,216) 118 (1,944) 270 Interest income (2,140) (4,794) (7,517) (16,303)Interest expense 10 853 21 2,744 Amortization of acquired intangible assets — — — 1,407 Depreciation and amortization 1,599 967 5,693 2,961 Bargain purchase gain — — — (25,213)Restructuring and related charges 7,216 2,341 10,495 12,374 Transaction and integration expenses 43 5,079 1,517 25,024 Stock-based compensation expense 7,536 4,649 20,957 11,627 Cost of sales adjustment — — — — Loss on disposal of property and equipment — 4 187 27 Other non-operating (income) expense 2,092 (957) (3,438) 865 Adjusted EBITDA $(16,544) $(13,658) $(46,756) $(47,982) STANDARD BIOTOOLS INC.Condensed Results of OperationsDiscontinued Operations(In thousands)(Unaudited) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Revenue $26,693 $22,884 $67,466 $61,484 Cost of revenue 14,352 11,749 37,784 32,653 Selling, general and administrative expenses 8,474 9,937 25,573 43,280 Research and development 4,849 6,217 16,587 26,567 Transaction and integration expenses 2,203 - 12,710 - Other (income) expense, net (182) - (3,736) 31 Total expenses $29,696 $27,903 $88,918 $102,531 Loss from discontinued operations $(3,003) $(5,019) $(21,452) $(41,047) 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Gross profit $12,340 $11,134 $29,682 $28,831 Amortization of acquired intangible assets — 540 1,370 1,644 Depreciation and amortization (76) 1,126 1,276 2,418 Stock-based compensation expense 214 146 628 296 Loss on disposal of property and equipment 7 — 65 — Cost of sales adjustment — — — (1,812)Non-GAAP gross profit $12,485 $12,946 $33,021 $31,377 Gross margin percentage 46.2% 48.7% 44.0% 46.9%Amortization of acquired intangible assets — 2.4% 2.0% 2.6%Depreciation and amortization (0.2)% 4.9% 1.9% 3.9%Stock-based compensation expense 0.8% 0.6% 0.9% 0.5%Loss on disposal of property and equipment — — 0.1% — Cost of sales adjustment — — — (2.9)%Non-GAAP gross margin percentage 46.8% 56.6% 48.9% 51.0% 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Operating expenses $15,526 $16,154 $54,974 $69,847 Restructuring and related charges — — (104) — Transaction and integration expenses (2,203) — (12,710) — Stock-based compensation expense (724) (1,126) (2,285) (12,339)Amortization of acquired intangible assets — (171) (345) (482)Depreciation and amortization — (1,053) (1,004) (3,995)Loss on disposal of property and equipment (9) (26) (199) (388)Non-GAAP operating expenses $12,590 $13,778 $38,327 $52,643 R&D operating expenses $4,849 $6,217 $16,587 $26,567 Stock-based compensation expense (258) (321) (1,139) (3,433)Depreciation and amortization — (799) (843) (2,169)Loss on disposal of property and equipment (9) — (175) — Non-GAAP R&D operating expenses $4,582 $5,097 $14,430 $20,965 SG&A operating expenses $8,474 $9,937 $25,573 $43,280 Stock-based compensation expense (466) (805) (1,146) (8,906)Amortization of acquired intangible assets — (171) (345) (482)Depreciation and amortization — (254) (161) (1,826)Loss on disposal of property and equipment — (26) (24) (388)Non-GAAP SG&A operating expenses $8,008 $8,681 $23,897 $31,678 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net loss $(3,003) $(5,019) $(21,452) $(41,047)Income tax (benefit) expense (1) — (158) 31 Interest income — — — — Interest expense — — — — Amortization of acquired intangible assets — 711 1,715 2,126 Depreciation and amortization (76) 2,180 2,280 6,414 Bargain purchase gain — — — — Restructuring and related charges — — 104 — Transaction and integration expenses 2,203 — 12,710 — Stock-based compensation expense 938 1,272 2,913 12,635 Cost of sales adjustment — — — (1,812)Loss on disposal of property and equipment 17 25 265 388 Other non-operating (income) expense (183) — (3,683) — Adjusted EBITDA $(105) $(832) $(5,306) $(21,266) STANDARD BIOTOOLS INC.Condensed Combined Results of OperationsContinuing Operations and Discontinued Operations(In thousands)(Unaudited) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Revenue $46,245 $44,970 $129,002 $127,715 Cost of revenue 24,420 21,709 68,159 65,358 Selling, general and administrative expenses 35,069 34,403 110,097 119,020 Research and development 11,205 13,156 34,605 48,358 Transaction and integration expenses 2,246 5,079 14,227 25,024 Restructuring 9,428 2,341 12,707 12,374 Other (income) expense, net (1,436) (4,780) (16,614) (37,606)Total expenses $80,932 $71,908 $223,181 $232,528 Net loss $(34,687) $(26,938) $(94,179) $(104,813) 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Gross profit $21,824 $23,260 $60,843 $62,357 Amortization of acquired intangible assets — 540 1,370 3,051 Depreciation and amortization 514 1,444 2,681 3,435 Stock-based compensation expense 600 364 1,658 897 Loss on disposal of property and equipment 7 — 252 — Cost of sales adjustment — — — (1,812)Non-GAAP gross profit $22,945 $25,608 $66,804 $67,928 Gross margin percentage 47.2% 51.7% 47.2% 48.8%Amortization of acquired intangible assets — 1.2% 1.1% 2.4%Depreciation and amortization 1.1% 3.2% 2.1% 2.7%Stock-based compensation expense 1.3% 0.8% 1.3% 0.7%Loss on disposal of property and equipment — — 0.1% — Cost of sales adjustment — — — (1.4)%Non-GAAP gross margin percentage 49.6% 56.9% 51.8% 53.2% 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Operating expenses $57,948 $54,979 $171,740 $204,776 Restructuring and related charges (9,428) (2,341) (12,811) (12,374)Transaction and integration expenses (2,246) (5,079) (14,227) (25,024)Stock-based compensation expense (5,662) (5,557) (20,000) (23,365)Amortization of acquired intangible assets — (171) (345) (482)Depreciation and amortization (1,009) (1,703) (5,290) (5,940)Loss on disposal of property and equipment (9) (30) (199) (415)Non-GAAP operating expenses $39,594 $40,098 $118,868 $137,176 R&D operating expenses $11,205 $13,156 $34,605 $48,358 Stock-based compensation expense (755) (724) (2,456) (4,480)Depreciation and amortization (228) (947) (1,840) (2,606)Loss on disposal of property and equipment (9) — (147) — Non-GAAP R&D operating expenses $10,213 $11,485 $30,162 $41,272 SG&A operating expenses $35,069 $34,403 $110,097 $119,020 Stock-based compensation expense (4,907) (4,833) (17,544) (18,885)Amortization of acquired intangible assets — (171) (345) (482)Depreciation and amortization (781) (756) (3,450) (3,334)Loss on disposal of property and equipment — (30) (52) (415)Non-GAAP SG&A operating expenses $29,381 $28,613 $88,706 $95,904 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net loss $(34,687) $(26,938) $(94,179) $(104,813)Income tax (benefit) expense (1,217) 118 (2,102) 301 Interest income (2,140) (4,794) (7,517) (16,303)Interest expense 10 853 21 2,744 Amortization of acquired intangible assets — 711 1,715 3,533 Depreciation and amortization 1,523 3,147 7,971 9,375 Bargain purchase gain — — — (25,213)Restructuring and related charges 7,216 2,341 10,599 12,374 Transaction and integration expenses 2,246 5,079 14,227 25,024 Stock-based compensation expense 8,474 5,921 23,870 24,262 Cost of sales adjustment — — — (1,812)Loss on disposal of property and equipment 17 29 452 415 Other non-operating (income) expense 1,909 (957) (7,121) 865 Adjusted EBITDA $(16,649) $(14,490) $(52,064) $(69,248)

Standard BioTools Reports Third Quarter 2025 Financial Results

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