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what it is
Standard BioTools sells lab tools that help researchers measure cells and proteins.
how it gets paid
Last year Standard Biotools made $174M in revenue. SomaScan proteomics was the main engine at $79M, or 45% of sales.
what just happened
Latest quarter revenue ~$62M, EPS still negative (~-$0.25), gross margin ~50.6%.
At a glance
B balance sheet — gets the job done, barely
50/100 earnings predictability — expect surprises
-$0.52 fy2024 eps est
forward revenue ests — verify vs ~$174M actuals
~-100.5% operating margin — loses more than sales at the op line
xvary composite: 48/100 — below average
What they do
Standard BioTools sells lab tools that help researchers measure cells and proteins.
You get 3 core platforms: SomaScan, mass cytometry, and microfluidics. It serves academic, government, pharma, and clinical labs worldwide, with 814 employees. That is a small team chasing a very broad market.
How they make money
$174M
annual revenue
SomaScan proteomics
$79M
12.0%
Mass cytometry
$49M
+3.0%
Microfluidics systems
$31M
+8.0%
Consumables and other
$15M
+2.0%
The products that matter
high-parameter cell analysis
Mass cytometry (within product revenue)
~$49M in segment bridge · part of ~$85.3M product bucket
The revenue table shows ~$49M in mass cytometry; the ~$85.3M “product revenue” card is the wider instrument/consumables bucket— do not double-count the two.
core franchise
instruments and consumables sales
Product Revenue
$85.3M · 49% of revenue
This is the sharper read on demand. If the installed base is healthy, you should eventually see it here first, not in vague corporate commentary.
demand signal
services and recurring support
Service & Other
$88.7M · 51% of revenue
This slightly larger bucket brought in $88.7M. It matters because steadier service dollars can make a small-cap tools name look less dependent on one product cycle.
stability check
Key numbers
$174M
annual revenue
That is the whole sales base. A 14.5% slide would cut about $25M.
~-100.5%
operating margin
Negative operating margin → the business loses more than a full dollar of sales at the operating line— the sign matters (not a positive 100% margin).
$22M
long-term debt
Debt is low in dollars, but it still matters against $174M of revenue.
50.6%
gross margin
The product itself makes money before overhead eats it.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $22M (6% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for LAB right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $62M, while EPS stayed at -$0.25 and gross margin was 50.6%.
If the quarter grew ~215% vs. prior year, that is on a small prior-year denominator— pair with the ~$174M full-year base so the % does not mislead.
$62M
quarter revenue
-$0.25
eps
50.6%
gross margin
the number that mattered
The $62M quarter matters because sales rose fast, but the business still lost $0.25 per share.
source: EDGAR quarterly filing
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What could go wrong
the #1 risk here is not a bad quarter. It is cash getting spent before the smaller tools business proves it can stand on its own.
med
cash deployment goes nowhere
LAB has roughly $550M in cash against a market cap of about $359M. That sounds protective until management starts spending it. If acquisitions, buybacks, or internal investments fail to rebuild revenue power, you can burn the safety cushion without creating a better company.
Impact: if cash drops materially while revenue stays around the $80M–$85M guide, the asset-backing argument weakens fast.
med
Mass Cytometry does not carry the reset
The page keeps pointing back to Mass Cytometry for a reason. When one franchise carries too much of the story, weak adoption shows up everywhere — product revenue, service pull-through, and confidence in the remaining portfolio.
Impact: product revenue was $85.3M in 2025. If that base slips instead of stabilizing, the stock stops looking like a turnaround and starts looking like shrinkage.
med
gross margin looks fine until scale disappears
A 49.9% gross margin is decent. It is not magical. On a much smaller revenue base, fixed costs matter more. That means you can keep respectable unit economics and still fail to produce real earnings power.
Impact: if gross margin rolls over while EPS remains negative, investors may stop giving management time to reset the business.
A forced reset from $174M in revenue to an $80M–$85M guide already tells you this is a transition story. If cash deployment disappoints at the same time product demand weakens, the downside comes from both a smaller business and a thinner cash cushion.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
cash versus market cap
Roughly $550M in cash against a $359M market cap is the weirdest fact on the page. If that gap narrows because the cash gets used well, good. If it narrows for no visible reason, not good.
trend
Mass Cytometry demand
When one franchise does most of the storytelling, you follow it first. Watch whether product revenue can stabilize and then grow from the current $85.3M base.
risk
the revenue reset
A guide of $80M–$85M for 2026 is the number that matters. It tells you whether management is rebuilding deliberately or just managing decline with better language.
calendar
next earnings update
Use the next report to check three things at once: cash, product revenue, and gross margin. One number will not settle this story. The combination will.
Analyst rankings
short-term outlook
mixed
coverage looks thin. in human-speak: there is no strong wall street consensus telling you what this should be worth.
risk profile
volatile
A 1.2 beta means it tends to swing more than the market. Add small-cap healthcare and a strategic reset, and you should expect a bumpy chart.
chart momentum
event-driven
This is less about smooth technical strength and more about what management does with cash, guidance, and the remaining platform.
earnings predictability
50/100
Predictability is a reliability score. At 50/100, the business is still changing enough that clean forecasting is hard.
source: institutional data
Institutional activity
institutional ownership data for LAB is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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