Standard BioTools Files Q2 2024 10-Q
Ticker: LAB · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1162194
| Field | Detail |
|---|---|
| Company | Standard Biotools Inc. (LAB) |
| Form Type | 10-Q |
| Filed Date | Aug 6, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
Standard BioTools 10-Q filed: Q2 2024 financials out. Cash, debt, equity details.
AI Summary
Standard BioTools Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly Fluidigm Corp, reported on its financial performance and business operations. Key financial data and segment information were disclosed, including details on cash, convertible debt, and equity incentive plans.
Why It Matters
This filing provides investors with an update on Standard BioTools' financial health and operational status for the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — The filing contains standard financial disclosures for a public company, but the nature of the biotech industry and the company's specific financial instruments introduce inherent risks.
Key Numbers
- 2024-06-30 — Reporting Period End (As of this date, financial statements are reported.)
- 2024-08-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2023-06-30 — Prior Year Period End (Used for comparative financial analysis.)
Key Players & Entities
- STANDARD BIOTOOLS INC. (company) — Filer
- FLUIDIGM CORP (company) — Former Company Name
- 2024-06-30 (date) — Reporting Period End Date
- 2024-08-06 (date) — Filing Date
- 2024-03-18 (date) — Convertible Preferred Stock Date
FAQ
What was the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing was June 30, 2024.
What is the company's former name?
The company's former name was FLUIDIGM CORP.
When was the convertible preferred stock mentioned?
The convertible preferred stock was mentioned with a date of March 18, 2024.
What is the company's SIC code?
The company's Standard Industrial Classification (SIC) code is 3826, for Laboratory Analytical Instruments.
What is the company's state of incorporation?
The company is incorporated in Delaware (DE).
Filing Stats: 4,390 words · 18 min read · ~15 pages · Grade level 18.1 · Accepted 2024-08-06 16:30:21
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share LAB The Nasdaq
Filing Documents
- lab-20240630.htm (10-Q) — 2954KB
- lab-ex10_2.htm (EX-10.2) — 33KB
- 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
- img187295779_0.jpg (GRAPHIC) — 178KB
- 0000950170-24-091888.txt ( ) — 14118KB
- lab-20240630.xsd (EX-101.SCH) — 1874KB
- lab-20240630_htm.xml (XML) — 2791KB
Financial Statements (unaudited)
Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 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 29 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 37 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 40 Item 6. Exhibits 41 EXHIBIT LIST 41
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) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 269,811 $ 51,704 Short-term investments 124,902 63,191 Accounts receivable, net 32,441 19,660 Inventory 42,618 20,533 Prepaid expenses and other current assets 10,257 3,127 Total current assets 480,029 158,215 Inventory, non-current 16,252 — Royalty receivable, non-current 3,738 — Property and equipment, net 42,569 24,187 Operating lease right-of-use asset, net 31,531 30,663 Other non-current assets 4,282 2,285 Acquired intangible assets, net 24,078 1,400 Goodwill 106,253 106,317 Total assets $ 708,732 $ 323,067 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 12,570 $ 9,236 Accrued liabilities 31,929 21,019 Operating lease liabilities, current 5,851 4,323 Deferred revenue, current 15,113 11,607 Deferred grant income, current 3,562 3,612 Term loan, current — 5,000 Convertible notes, current 54,783 54,530 Total current liabilities 123,808 109,327 Convertible notes, non-current 299 569 Term loan, non-current — 3,414 Deferred tax liability 841 841 Operating lease liabilities, non-current 29,617 30,374 Deferred revenue, non-current 33,395 3,520 Deferred grant income, non-current 8,995 10,755 Other non-current liabilities 1,516 1,065 Total liabilities 198,471 159,865 Commitments and contingencies (Note 8) Mezzanine equity: Redeemable preferred stock: $ 0.001 par value; zero and 256 shares authorized and issued and outstanding at June 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of zero and $ 255,559 at June 30, 2024 and December 31, 2023, respectivel