Standard BioTools Q1 revenue rises 5% to $21.1M; adjusted EBITDA loss shrinks 78%
Standard BioTools reported Q1 2026 revenue of $21.1 million, up 5% year-over-year driven by a 35% increase in consumables. It cut operating expenses 37%, reduced its adjusted EBITDA loss by 78% to $3.1 million, and closed the quarter with $524 million in cash and investments plus a $25 million earnout.
1. First Quarter Financial Highlights
Standard BioTools posted revenue of $21.1 million in Q1 2026, a 5% increase from Q1 2025, with gross margin at 53.5%. Operating loss narrowed to $12.5 million from $27.0 million year-over-year and net loss improved to $14.6 million versus $23.4 million, underpinning a 78% adjusted EBITDA loss reduction to $3.1 million.
2. Segment Performance
Consumables revenue climbed 35% to $11.0 million, driven by growth in microfluidics products. Instrument sales declined 33% to $4.5 million amid capital-constrained end-markets, while services revenue rose 5% to $5.7 million.
3. Expense Reduction and Margins
Operating expenses fell 37% year-over-year to $23.8 million, including $3.1 million in restructuring charges. Non-GAAP operating expenses declined 40% to $15.3 million, supporting non-GAAP gross margin expansion to 57.7%.
4. Strong Balance Sheet and 2026 Outlook
The company ended the quarter with $523.6 million in cash, equivalents and liquid investments, plus a $25 million earnout received after quarter-end. Standard BioTools reaffirmed full-year 2026 revenue guidance of $80 million to $85 million and plans strategic capital deployment to drive inorganic growth.