STANDARD BIOTOOLS INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>STANDARD BIOTOOLS INC. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial information and equity-related data.</b>

AI Summary

STANDARD BIOTOOLS INC. (LAB) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. STANDARD BIOTOOLS INC. filed a 10-Q for the period ending March 31, 2024. The filing includes data related to various financial instruments and equity plans. Key dates mentioned include March 31, 2024, December 31, 2023, and January 1, 2024. The company's former name was FLUIDIGM CORP, with a date of name change on November 13, 2001. The filing references specific equity awards such as Restricted Stock Units (RSUs) and Performance Shares.

Why It Matters

For investors and stakeholders tracking STANDARD BIOTOOLS INC., this filing contains several important signals. This 10-Q filing provides an update on the company's financial position and operational activities for the first quarter of 2024. The detailed disclosures within the filing are crucial for investors to assess the company's performance, risks, and future outlook.

Risk Assessment

Risk Level: medium — STANDARD BIOTOOLS INC. shows moderate risk based on this filing. The filing contains numerous specific financial data points and references to various financial instruments and equity plans, indicating a complex financial structure that requires careful analysis.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to understand the company's current financial health and strategic direction.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-09 — Filing Date (Date the report was filed)
• 2001-11-13 — Date of Name Change (Former company name date)
• 0000950170-24-057213 — Accession Number (Unique identifier for the filing)

Key Players & Entities

• STANDARD BIOTOOLS INC. (company) — Filer name
• FLUIDIGM CORP (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-05-09 (date) — Filed as of date
• LAB (ticker) — Ticker symbol
• Casdin Partners Master Fund LP (company) — Director related entity
• Illumina Cambridge Ltd (company) — Related entity
• Senior Convertible Notes Due 2024 (financial_instrument) — Convertible debt

FAQ

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2001-11-13: Former Company Name Date — Date when STANDARD BIOTOOLS INC. was formerly known as FLUIDIGM CORP.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition between annual reports.)

Restricted Stock Units (RSUs)

A type of equity award that gives an employee the right to receive shares of company stock. (Indicates a form of executive and employee compensation and incentive.)

Performance Shares

Stock awards granted to employees that vest based on the achievement of specific performance goals. (Represents performance-based compensation tied to company objectives.)

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share LAB The Nasdaq

Filing Documents

• lab-20240331.htm (10-Q) — 2339KB
• lab-ex31_1.htm (EX-31.1) — 15KB
• lab-ex31_2.htm (EX-31.2) — 16KB
• lab-ex32_1.htm (EX-32.1) — 8KB
• lab-ex32_2.htm (EX-32.2) — 8KB
• img187292897_0.jpg (GRAPHIC) — 178KB
• 0000950170-24-057213.txt (&nbsp;) — 12536KB
• lab-20240331.xsd (EX-101.SCH) — 1864KB
• lab-20240331_htm.xml (XML) — 2362KB

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for three months ended March 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements: 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 39 EXHIBIT LIST 39

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

F inancial Statements

Item 1. F inancial Statements STANDARD BIOTOOLS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) (Unaudited) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 287,057 $ 51,704 Short-term investments 175,225 63,191 Accounts receivable, net 36,012 19,660 Inventory 40,359 20,533 Prepaid expenses and other current assets 8,912 3,127 Total current assets 547,565 158,215 Inventory, non-current 13,262 — Royalty receivable, non-current 4,352 — Property and equipment, net 44,786 24,187 Operating lease right-of-use asset, net 32,966 30,663 Other non-current assets 3,673 2,285 Acquired intangible assets, net 24,794 1,400 Goodwill 106,269 106,317 Total assets $ 777,667 $ 323,067 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 13,141 $ 9,236 Accrued liabilities 30,430 21,019 Operating lease liabilities, current 5,834 4,323 Deferred revenue, current 13,906 11,607 Deferred grant income, current 3,587 3,612 Term loan, current — 5,000 Convertible notes, current 54,656 54,530 Total current liabilities 121,554 109,327 Convertible notes, non-current 299 569 Term loan, non-current — 3,414 Deferred tax liability 841 841 Operating lease liabilities, non-current 31,108 30,374 Deferred revenue, non-current 33,854 3,520 Deferred grant income, non-current 9,875 10,755 Other non-current liabilities 2,820 1,065 Total liabilities 200,351 159,865 Commitments and contingencies (Note 8) Mezzanine equity: Redeemable preferred stock: $ 0.001 par value; zero and 256 shares authorized at March 31, 2024 and December 31, 2023, respectively; aggregate liquidation preference of zero and $ 255,559 at March 31, 2024 and December 31, 2023, respectively — 311,253 Stockho

View Full Filing

View this 10-Q filing on SEC EDGAR