Achieved $150.8 million in Q1 2026 revenue, up 9% year-over-year excluding prior year settlement/license revenue.
Launched Atera, a major new spatial biology platform, with strong early demand, pre-orders, and shipments expected in H2 2026.
Double-digit growth in both single-cell and spatial consumables, driven by Flex Apex and Xenium.
Maintained disciplined cost management, with operating expenses down 15–20% year-over-year excluding one-time items.
Announced partnerships and initiatives in AI-driven biology and translational research, including Bioptimus and STELA.
Q1 2026 revenue: $150.8 million, up 9% year-over-year excluding non-recurring settlement/license revenue.
Consumables revenue up 13%; single-cell consumables up 6%, spatial consumables up 31%.
Instrument revenue declined 24% year-over-year; Chromium instruments down 12%, spatial instruments down 32%.
Gross margin improved to 70% from 68% in Q1 2025, driven by lower warranty and inventory costs.
Ended quarter with $540 million in cash and equivalents, up $113 million year-over-year.
Full-year 2026 revenue expected at $600–$625 million, representing 0–4% growth over 2025 excluding settlement/license revenue.
Double-digit growth anticipated in single-cell and spatial consumables for the year.
Q2 and Q3 revenue expected to decline sequentially due to customers delaying spatial purchases ahead of Atera launch.
Atera shipments to begin contributing in Q4/H2, with initial production capacity limited.
Gross margin for 2026 expected in the mid-60s%, with some pressure from Atera launch in Q4.
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