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LAB is a life sciences company specializing in proteomics and genomics solutions. The company develops and sells innovative instruments, consumables, and assay services that enable researchers to analyze protein and gene expression. LAB's offerings include advanced technologies such as SomaScan® assay kits and mass cytometry instruments, supported by robust manufacturing and service capabilities.
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Proteomics - Provides tools and services for analyzing protein biomarkers, including SomaScan® assay kits and related consumables, which are widely used in research and diagnostics. This segment also includes assay services that generate data on protein biomarkers from customer samples.
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Genomics - Offers solutions for gene expression analysis, including instruments and consumables designed to support genomic research and diagnostics. This segment is undergoing reorganization to enhance its market positioning.
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Instrument Support Services - Delivers post-warranty service contracts, preventive maintenance, installation, and training for LAB's instruments, ensuring optimal performance and customer satisfaction.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michael Egholm ExecutiveBoard | President, CEO, and Director | Elected member of the Royal Danish Academy of Sciences and Letters | Over 25 years of leadership experience in life sciences; named inventor of 40 U.S. patents; published over 100 research papers. | |
Adam Taich Executive | Chief Strategy Officer | None mentioned | Former Interim CEO of SomaLogic; instrumental in the merger between Standard BioTools and SomaLogic. | |
Hanjoon Alex Kim Executive | Chief Operating Officer | None mentioned | Former Chief Business Officer at Standard BioTools, LLC; held various roles at Milliken & Company and Danaher Corporation. | |
Shane Bowen Executive | Chief Technology Officer | None mentioned | No additional details available in the documents. | |
Eli Casdin Board | Director | Chief Investment Officer of Casdin Capital; Board Member at GeneDx; Director on various academic and research boards | Founder of Casdin Capital; extensive experience in life sciences investment and governance. | |
Fenel M. Eloi Board | Director | Board Member at 908 Devices, MitoTherapeutix, Ultivue, Vaxess Technologies, VIC Technology Venture Development | Extensive operational and financial leadership in life sciences; former CFO and COO at Cell Signaling Technology. | |
Kathy Hibbs Board | Director | Board Member at SOPHiA GENETICS SA; Member of Fast Company Impact Council; Board Member at Cadex Genomics | Over 20 years of expertise in clinical laboratory and medical device industries; former Chief Administrative Officer at 23andMe. | |
Tom Carey Board | Chairman of the Board | Previously Chair of the Board of Vital Biosciences; served on the board of Exact Sciences | Over 25 years of experience in executive search and consulting in life sciences; founded Perspective Group; held leadership roles at Russell Reynolds Associates and Spencer Stuart. | |
Troy Cox Board | Director | Director of SOPHiA GENETICS SA, LetsGetChecked Inc., Zymeworks Inc., Biosplice Therapeutics; Director for Dream Foundation | Former Executive Chair of SomaLogic; former CEO of Foundation Medicine; extensive operational and strategic experience in life sciences. |
- Given the significant decline in instrument sales—25% in Q4 and 27% for the year—what specific strategies are you implementing to reverse this trend, and when do you anticipate a return to growth in this segment?
- With the additional $10 million in cost reductions primarily affecting R&D, how do you plan to sustain innovation and competitiveness without compromising your long-term product development pipeline?
- Despite guiding for a 3% revenue decline at the midpoint for 2025, you still aim for adjusted EBITDA breakeven in 2026; what factors give you confidence in achieving this target amid ongoing market uncertainties?
- You mentioned plans for 4 to 6 strategic acquisitions over the next two years; how do you intend to fund these acquisitions while managing cash burn and maintaining balance sheet strength?
- The Illumina partnership is projected as at least a $1 billion opportunity, yet you expect 2025 to be a transition year; can you provide more clarity on the ramp-up timeline and how this partnership will contribute to revenue growth given your current declining guidance?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Considered a principal competitor in the genomics space. | |
Identified as a principal competitor in the genomics space and also a leading supplier of reagents for real-time qPCR reactions. | |
Listed as a principal competitor in the genomics space. | |
Formerly known as Agena Bioscience, Inc., and identified as a principal competitor in the genomics space. | |
Recognized as a principal competitor in Flow Cytometry. | |
Identified as a principal competitor in Flow Cytometry. | |
Listed as a principal competitor in Spatial Biology. | |
NanoString Technologies, Inc. | Recognized as a principal competitor in Spatial Biology. |
Identified as a principal competitor in Spatial Biology. | |
Roche Diagnostics Corporation | A leading supplier of reagents for real-time qPCR reactions and a direct competitor. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
SomaLogic, Inc. | 2024 | Standard BioTools acquired SomaLogic through a completed merger on January 5, 2024. The deal, based on an Agreement and Plan of Merger dated October 4, 2023, involved converting each share of SomaLogic common stock into 1.11 shares of Standard BioTools common stock (with cash for fractional shares), yielding a total purchase price of approximately $441.5 million and creating a combined company where SomaLogic shareholders hold about 57% ownership; the acquisition also added key financial assets, including approximately $565.5 million in cash and a pro forma revenue of $192.4 million, and was recognized as a business combination with a bargain purchase gain. |
Recent press releases and 8-K filings for LAB.
- Revenue of $40.8 million was reported in Q1 2025, down 10% YoY amid softer Americas academic funding and broader market headwinds .
- Instrument revenue increased by 24% YoY, driven by strong demand for the Hyperion XTi spatial imaging system and operational improvements .
- Operating performance improved with a 45% reduction in operating loss and a 29% YoY improvement in adjusted EBITDA .
- The company remains focused on strategic M&A with planned deals over the next 18 months and expects its Illumina partnership to provide moderate near-term revenue, with stronger growth anticipated in 2026 .
- Reported a strong balance sheet with $261 million in cash and no material debt as of March 31, 2025 .