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Peter DeNardo | Investor Relations |
Michael Egholm | Chief Executive Officer and President |
Vikram Jog | Chief Financial Officer |
Hello, and welcome to the Standard BioTools Incorporated Second Quarter 2022 Financial Results Conference Call.
As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Peter DeNardo, Investor Relations. Thank you, Mr. DeNardo.
begin. may You
for Good quarter operator. of Welcome Standard financial to market XXXX. June Thank earnings afternoon, conference second results its released XXXX Standard close quarter call. BioTools’ ended today XX, you, BioTools everyone. the At the the
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Thanks good and Michael, afternoon everyone.
microfluidics and affected offerings total activity. These negatively of Laser Capture or Microdissection COVID-XX today, our million simplifying diagnostics our million and and by or in the products revenue XXXX. gross earnings operating release to our and noted for our product flow profit conductor LCM are de-emphasizing we second loss discontinuing the service by $X.X contributed $X.X changes million quarter and product and $X.X GAAP As
Let for the revenue for review QX reduced million for XXXX. reported as quarter revenues driven dollar revenue. the The quarter and stronger compared product $XX $XX.X with to revenue lower me XX% by Total revenue Base begin of the excludes COVID-XX million which $XX.X X%. second business lower primarily and XXXX. of year-ago testing instrument now million approximately the of was by other revenue, million approximately period, was in $XX.X revenue to compared service
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increase between that the non-GAAP reconciliation table and primarily the I net and performance; $XX.X end Please of non-operating the results, earning non-GAAP GAAP measures certain to earlier note to non-cash loss this and today for of $XX.X to net net our provided that our release operating was million issued quarter XXXX. express the on loss XXXX GAAP comments exclude focus loss compared of will my was ended of Non-GAAP XX, Moving now are quarter was in which our of second at loss June quarter for portfolio million for was the million $XX.X million million non-GAAP decline $X.X for The XX.X% margin compared operating presentation. GAAP $XX.X a net items. second and million down for investments are severance significantly and second resulting and not ago. including driven the The XX.X% consulting service quarter retention for improvements activities, the in to activities. margin Non-GAAP expenses of write-offs name a quarter, from driven XXXX. $XX.X XXXX, by and rebranding expenses generate year to and that legal from action. product SBS primarily compared was related second rationalization for and change expenses the the Non-GAAP in period was to were inventory by performance expenses fees, the reoccur same including company expected XXXX.
Moving million and cash on as and short-term flow the XX, $XXX.X reflecting were now March strategic cash cash million compared investments million the infusion sheet. with XXXX. balance April Cash equivalence in $XXX to and $XX of
approximately resulting XXXX. that cash a plan over for losses The During ago, today cash from burn restructuring $XX I'll beginning compared the to is $XX second higher the to quarter, operating period in we significantly the quarter. was million reduce remarks phase my to our the approximately expected Peter. announced concludes This of now million from primarily operation. same burn turn half in call the year
Thank call. investor's quarter concludes thank like on financial our today. of will Good you, section attending website. our available Vikram. everyone afternoon, be call results XXXX replay of call to the A This this our everyone. for We'd second
teleconference. today's concludes This
this your your you participation. Thank may You at disconnect for time. lines
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