ImmunoPrecise Antibodies (IPA) 10 Dec 242025 Q2 Earnings call transcript

Good morning, ladies and gentlemen, and thank you for joining us today for ImmunoPrecise Antibodies Second Quarter Fiscal Year 2025 Earnings Call. We appreciate your time and interest in IPA. Today's call will be led by our CEO, Dr. Jennifer Bath; and CFO, Kristin Taylor. They will provide a review of our financial performance, strategic initiatives, and key operational highlights for the quarter. Please note that a copy of today's presentation, along with our financial statements will be available on our company website for your reference. review performance to and to understanding a you our of strategic encourage these gain materials deeper We direction. Once us again, today. joining thank you for future to and We our plans our forward with look you. sharing discussing progress

will strongly and a including from I Actual and changes these proceed, results our and reports recent other unless various participants with for detailed by all a are filings We IPA's remind for potential Jennifer today's future call These now to like of Before those are to contain current our subject our the we statements. expectations would and forward-looking of on uncertainties. in events materially CEO, to most SEC, inherent and Securities anticipated that interest risks on impact everyone to and risks required and due could to are performance. that Commission, differ discussion assumptions based more uncertainties risks statements in update business, to turn unforeseen we to, conditions, of the operations Bath. your including ImmunoPrecise regulatory periodic the our note Antibodies. I new other and limited factors, obligation law. We them advise but the and continued over in will Form and complete XX-F, market Exchange refer future business Dr. of President discussion appreciate result that information changes, more understanding not to today, a no undertake these made or Please as risks. forward-looking statements as

operations year adoption antibody we value. firmly to second for us execute growth a everyone. quarter ensure plan for continue has been as sustained global IPA's transformative today on and increasing development, at review and to XXXX. Operationally, Regina, Thank quarter and good joining morning, you our innovations shareholder AI-driven drive this you, results strategic push in for fiscal IPA to Thank

of a culture XXX access and are solidifying significant industry leadership critical in ecosystem, a Texas vibrant innovation biotechnology, our perfectly its growth and offers city's directly has British partnerships for a while collaborative and driving community from fertile solid which platform hub step sector emerged data-driven supports Columbia a strategy. Austin The University LENSai to global that to Austin's as and semiconductor marks relocate at Victoria, technology. convergence headquarters our further a we're fostering the aligning fostering our precision sector. strong opportunities start-ups, life Austin positioning AI-driven research, for steady intelligence, decision and HYFT biotech goals. at a in billion Texas for AI aligns enriches our of growth in the market the provides strategic rapidly in breakthroughs $X.X that medicine semiconductor Austin, this innovation. in biotech funding stream our technology rebranding of AI, of biotech ensuring a intersection the operations is providing collaborations semiconductor presence with and advancement. top-tier our to a evolving repositioning long-term becoming across in strategy, our focal talent, and strategic sciences. IPA cornerstone strengthening This ground unique and Our innovation. The foundation Austin, collaborations point for sciences IPA's growing artificial is skilled initiatives, our and fuel with for move life sciences Austin talent By and With life

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as with partnership Our AWS progresses planned.

analytical by of March, to which pipelines this this financial consumption for we by quarter. our We will A turn submit things by marketplace progressive anticipated users. I'll offering AWS first for a are updates foundational currently technical launch is now followed Taylor over Kristin December. conducting the review,

Thank financial end XXXX. overview you, brief touching our XXXX the of for October period, the on of was as quarter a results I'll which position Jennifer. provide of before our of our the XX, fiscal financial second

reference all noted. are dollars, reminder, I numbers unless a Canadian otherwise As in

the XXXX, For generated $X.X versus the of in revenues million $X.X we our of year. second fiscal million quarter previous

with highest to strong sites. BioStrand, marking While first the XX% achievement of of achieved second revenue this our wet along in each represents date, revenue quarter in quarter-over-quarter over lab AI-driven XXXX increase growth of flat $XXX,XXX $XXX,XXX. with life-to-date fiscal year-over-year, revenues achieved revenue of the at a platform, its quarter, quarterly our

As discovery achieving gross out fee-for-service than also supporting clients, margins analytical not traditional to drug we methods. is only more LENSai what our are much with to continue the of and efficient development wet roll lab we higher recognized tools, capabilities and but from effective

our to operating on Now expenses.

$X.X million second the year. in versus the previous $X.X $X.X and Our fiscal 'XX. for quarter XXXX R&D were of million development expenses of second $X.X million Year-to-date million were for research quarter versus fiscal expenses the

this increase, represents proprietary platform, a strategy our the capital-efficient as dollar substantial investment While expand percentage highlights value we LENSai. our

year-over-year the and of Year-to-date were were the marketing million versus sales and year. Our in expenses $X.X expenses flat the at marketing sales quarter XXXX million second $X previous versus fiscal previous for year. $X.X million

flat drug of and continue from We comprehensive to $X.X LENSai second pressures. expenses as AI-enhanced across million quarter the our labs platform for expenses services. General also million as benefit previous $X.X both the year. were the development our and efforts we wet administrative was Year-to-date, $X.X cross-selling support managed antibody G&A versus million, against actively our expansion inflationary we discovery to and offset

continue As technologies. on our we efforts our Jennifer growing so discussed, and can spend we proprietary focus to initiate business cost-saving

select overhead trends. open decisions, as filling Over delaying the difficult we of made laying XX and positions positions months, including almost for past or not the corporate off market monitor expansion XX% we investments

to enhanced offerings. offset We are of also tech local state ramp-up and support the looking our incentive at programs and the LENSai additional non-dilutive costs

and funding $X.X a R&D per type Europe. Overall, versus resulted second and the quarter this utilized share. funding non-dilutive of our (sic) successfully of in quarter XXXX or continue second over reported we a [ use ] Canada fiscal fiscal loss in of of have million We net $X.X for to loss that to share $X.X support XXXX our or of the per million $X.XX $X.XX years

the XXXX of year-end ended quarter our million. cash second and $X.X with million $X.X of versus we As our cash balance position for liquidity, of fiscal cash

was year of activity, Our including lease October million. million payments. This X of cash spend capital net use by the R&D raises which of of $X.X from cash reflects ending months financing by balance $X.X our net XX, XXXX, used funds offset for reflects first the operations,

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to to on the disruptions. We tranche of Yorkville work continue potential price conversion with remaining the share minimize

generating overlapping also upfront sale capabilities X We streamlining wet our a exploring while cutting support believe further of through potential cost that cash. will European labs

receive see strategy. Thank LENSai investment, focus continue and Regina. and early we strengthens an from adopters our consolidating As assets. Building feedback it you, we the revenue, our to evolve, to has commercializing as commitment to our back on now we growing gross technology we gains and value operations on will early been turn margin this but while operations and see in

from line [Operator question Instructions] Swayampakula HCW. first with Our will the of come Ramakanth

H.C. This a flight. put Wainwright. there's I from with Jennifer, apologize, is RK which of lot I'm you this morning. jet-lagged overnight information out an

you're financial understand So also of Board's containments that strategy couple thoughts the is on the of things One immediate to that you moving the the doing. just -- I overall, I'd front, your how what's what's headquarters also the benefit, is thoughts the strategy to -- Austin a understand on are to cost that? proposing, get and like some but behind and

question. RK, thanks for your

the years. So something the first with This is moving of discussing all, been we've of actually headquarters. several starting for

given is headquarters And well have biotechnology just community. general. biotechnology with an a where current and It very the also it's vibrant Just associated technologies not remote. that the location area area not we relatively is of an also in

have we there, would that way don't integration in we our have the presence a there but lab or executive want headquarter into a So location. wet the we community working really an

the that, to USD into years. funding always State also program X non-dilutive ground being funding also And the funding sources. over for last Dakota that is people is a We've of selection operational of presence North non-dilutive there. those up potential those addition the awarded million of present tapped the have and your soliciting on other locations opens type as being for the requirement the that couple that for of seen In over in leaders

that. area an known is that for is Texas so And well very

sources biological activities both partnership research a semiconductor integrating as well and non-dilutive of the have and connected realm with in funding We variety the with as and different already of began realm. collaboration

we this more more other Boston, which additional but and as we these partnerships from future, kind familiar So than which do location was fruit, funding have different collaborations obvious not-too-distant partnership and for future a for which more the choice bear was different plans just also started were to to became relationship. the and non-dilutive in us some -- integrated, of considering, we a become began that a

clear to a new, broader about So that cost that's that, months the ways, a that, appropriate feel evolved it's with there. bonuses, cap our in over headquarters. With that that's shareholders to we very X, In the regard and is containment, given obviously, really just with different it's regard of that's less regard demonstrating cost really X last the for not containment. given many the become a sense, rationale our but bit great little and destination market market, divestitures, alignment however, the to type to

divestiture However, that growth rapidly is through financing. And on dilutive growing of trajectory significant hugely that to -- in reflected during also received increase their you very it's obviously, the at look clear, our and plan BioStrand you super reduction important then a revenue. the this had future the we growth, that quarter our our when capital demands that as with is saw

green we an and for compare just And associated sites are so when buildings, this more X was had we they IPA overhead, and X of previous buildings brand new expensive already spend -- their importantly, to we to have builds, BioStrand those at almost also those not locations in Canada. duplication XXX% information, locations but new the ongoing option because to only neither stay reducing those with brand are

for last the all we've years, the actually Utrecht. manufacturing in purposefully services been X So duplicating protein

that more the We where significant Their is been do one revenue we to a at local. capabilities that of tend has process. do little So that, Canada. find ramping have stay bit areas people manufacturing in manufacturing

it's expansion part However, their planning. of also

to be expand So into further that we area. able will

accretive applications will in of as as I looking investment lot with the the Oss. faster. And in ones if less we acquired they an really application they the the one downstream next they what have then then they a developability, to development, that capabilities the of now increase overhead, brought developed that they're BioStrand They in we look that, within targeting competitive process. discovery primary the here, is development significantly just and through addition the we humanization, antibody our also of within and for X haven't the We large properties us, the the months, of manufacturing capital source they very Oss. those see technologies, versus income with Oss, while they have BioStrand to States are, we margins to overlapping lot part regard continuing at is mentioned not United in out have capabilities because all a the the well. And them which XXX% but offered development profit of that And a are to higher and covered have what's see every in are are in XX increase development compelling. in

at, So where specifically look and that structure a for for redundancy future really us reason is going. great corporate this at really see revenue and going on growth our company increasing really and what to we're where we're is and also focusing we where simplifying energy that our

Perfect.

we about from talking the whatnot, here? the contribution 'XX, kind you're head second of into how the think have to what of the everything done should And in through I'm just my get financially And and forward, in should entities? changes going about about So we quarter also, talking to trying properly. growth think structure just how corporate as you

Sure, absolutely. That's RK. understandable an question,

of that Select also attention, and which agnostic. years, species as has the from double-digit of the providing that platform. we rabbit last have although B year Cell Canada contributions when Memory been X.X So for service the leading is platform, they noticed staple the at R Canada that equation entities, And over been we specifically more you've gaining that and in offering us. species course is the look also quite single have version to public a obviously is

well offer. manufacturing continue revenue expanded within to So areas footprint, rapidly capabilities we the as they as growing with grow, but the continue well they that their anticipate that to to protein other also that the other like as do have areas

services, services that hybridoma single-step cloning that offer been protein have they NGS at of multitude but other programs, not expression, site a discovery and offerings only successful. So very

We we I -- to do, see our mentioned opportunity, for capital is which infusion as primarily large us investment there. a see also contribution. previously, low contribution for an So

up the and revenue opening access significantly of up growing significantly the a base have tighter to have since However, direct Cambridge ability tap already facilities the a Chinese Boston has on we for activities. to we certain where opened that area, into seen part regulations utilizing market

capacity of work the silico additional not that that So we And ourselves platform coming high throughput off work the and post we more optimization. that is with activities push the selection an area in clients Canada. have can and that's pinpointed within specifically downstream BioStrand, validate candidate happening for both in day-to-day rapidly where for that, silico for the also into in lead happen in

seen testing we're more And the at and interest a already So I we demands been offering but from that. looking adopting have have then, U.S., relatively as people of focused there's within that, where the BioStrand. much low mentioned, in great is cost course,

into they activities fee-for-service either to fee-for-service in of the starting or API. particular, on are they just of for X you of been earned partnership individuals tap the that That as also approaching companies work use is and seeing, past demands discussions that was of in saw, the do. Many have about revenue the over side the the So of very LENSai total reflective their we've past half this quarter. years BioStrand in us the

saw access new there. early X adopters we So had you

stable to door of to, there strategy then convert is those recurring access or equating revenues long-term and our the get course, them. adopters monthly from conversion, early Of post course, them in annual

and very receiving as trajectory on we're well that very that, from within actively significantly Kristin indicated, as feedback those a depressed users BioStrand on seeing budget. focused we're So doing

people they've and impressed greatly it engineers, LENSai. what the to growth, that the real is was realizing which So the interface with has also user this engineering the acknowledging incredibly boots assistance we're additional on potential rapid that needed. But when and and they're have and to of we huge has past contribute without that that, expansion with do actually at needed despite been BioStrand real to needs able for the ground how the quarter where

growth a but ensuring see tripart revenue kind X higher regard much the of deployed with So also to comes capital BioStrand then those again, margins locations, we contribution from obviously, that, lose is revenue profit and revenues that much, will in going forward. when we we areas other And work. of will it to being be the high

Okay. And in terms of then -- me flow expect will some these What through about question assets, Trk we should so you're next LILRBX the your talking development? and the of the from kind also like of is and especially asset asset. last set data of how programs

of that are and within Yes. the currently That's are a Talem the all great existing of really question because kind in assets development stage optimization stage.

what bit that will the BioStrand the more have way of few for discovered really you started we value within much Biotheus assets BioStrand. that release press has coming engineering those view been glimpsed to to of lead in That a out in and So for with one releases, has recent about, little a significant the talked including, we very role the haven't really take been press but optimizing instance, add a as regard that have thing is us Talem.

them So when of working obviously, Biotheus with to question with data? get in -- are them, will now set we That's the and them, communication really out-licensed progressing and interesting see we in updates particular together next a been the under with asset we're that's asset. BioNTech, actually regular that on the with of because control

completely potential the drug optimization with that our preclinical in already, thrilled can of validate to X entirely work development and expect silico in And in for other be which where potential do BioStrand revolutionized original this discovery. the we Talem, assets X discovery through the course, from with able and takes date and but of to We're the work, next have so insightful But wholly [ our working only have in stakeholders the validation that information in first-in-class that is cost shareholders, and from at demonstrate probably shared to development wet us, the MTA. With but that, able to we a from weeks. this assets BioStrand. months we time the optimization not developed we terms forward you in update with expect information can to decision-making step the lab when be them signed LENSai. doing released -- and we're haven't and best-in-class on the And on within assets addition done insight do in still these additional regard other it assets, in is work that we forthcoming get information with it that ] been regard the is but we I have about that beginning the the yet way an significant have that think drugs to see we're for huge world. And will us, most, are thing industry to informative a that novel think, or also those I it they

the that the drugs. the didn't the the some current have know didn't relationship between drugs attempting exist we never seen, to provide diseases the undercover because and of of simply some didn't at insights and diseases to have people tools Looking and that or current understand

showcase coming we the BioStrand, So that made. way potential development they, to capabilities will you an how real soon were briefly, assets are also forward -- only see that expect solely that potential. believe the you that drug revolutionize these some and on just discovered can on contributions update with within again, the to within Talem existed And that assets relatively a emphasis see has discovery also will and to summarize because BioStrand done, already assets an but their that significant wholly developed and have not

with from Our the of comes Ingalls Will McHale question line next & Snyder.

these haven't what's we me do for you think that revenue right just that? about the question and with and Or first outside, Jennifer, ramped are is about the being that from we, is, square to Like on it press way all just a the year-over-year? script timing of really in the advancements flat the we how discoveries thing -- things? kind in release commercialization talked both

we stand and in development continues importantly, and industry. is mean, fact our a be I in from clients by Will. rate that's And strong, pharmaceutical to not really that very have the companies exceptional our a partners question, we recovered hear of technologies occasionally biotech this hearing and reputation what we retention phases. great a That's our what and for and that are Yes. Despite downside, clients and industry more see bit discovery from exceptional competitors.

very spend. strong So to recover, for their in tends and companies groups reins But significant looking over because comfortable then the which in be biotech pharmaceutical releasing summer. other which service the the lagger we needing on the last especially more really impact you're to stop constraints, that, budget a saw at industry, to be addition

are saw et to talk budget or They I our months more swift the which look see when and over more aligned mean XX flat much So of with part the tightening bit at which from and that last we're or right, did because although impact constraints things. cetera. a hypothetical why I quarter, the on recovery couple bit our to significant these seeing flat a which to they've recovery we XX think I of belt this quarter, recovery, to into of I what with been a we experienced we I clients up a a which represent swift rebound of little things these what us see, extreme being us about competitors, of the attribute summer, would as obviously one, over have be year-over-year quarter that is picked would that pretty tell that about. a from it's a and isn't reorganizations, dip, year-over-year, not papers.

to believe that So we've that, impact seen that's primary that. with regard the I do

Got the really And in have guess at the I like new products ripping, enough just they're the needle scale but that an yet to services impact move -- launching, new significant it. that of not or they're a way? to we're

of terms In the services? BioStrand

silico Yes, in of BioStrand's exactly, in terms services.

how a early the ones are to specific time to early utilize is with but they're be access lot the bugs access, these and are algorithms, to one these work actually A utilizing utilizing period on have of Yes. -- what BioStrand the and these users that are regard coming brought in because of not every able users they're technologies, give still in groups the feedback, it. any out customized of

to feedback those And make does process, being can team a make so direct also require engineers fast need engineers the modifications. extremely that's that actually that super BioStrand access give not agreement to staff limited to part need the them the at early so users to on of the improvements. And obviously, those, use but

their of about period. happens the month, monthly start access some end little bit the are trial that's periods longer. are not where So fees. is those of users conversion. subscription trial those what a the paying And at That at a looking Most early are we

we to we're something is immediate that it growing. seeing that's something so from, revenue And contributions not see but expect

Got at I today. revenue it BioStrand this course rate guess, a as convert year, it. much than fiscal higher you'd to the run those of year over And expect is the exit

execute clients locations. quarter, and on ability quote. X the pipeline look Exactly. in to people all X beyond already we people stage they being do on Based information we that, leads. That have, also very received conversations understand meaningful prospects. the aim. very that like have and We that to we are at our of and interest. at we're we quarter, an do capital anticipate are are And quotes intent, These quarter, who gone have to the our where interest how that we information X a to have the better have is and that executed similar, absolutely do just having talking projections people use who then look other and pipeline sound These

well still are portal the just are the -- both even the LENSai expect a should significant of to said, fee-for-service this components pipeline anticipated. we that the build and to as usage that we still and than grow, AP margins to so, saw is more being marks substantial it's with to coming had substantial of work KPIs as are API component. those of we usage profit that. The that we're saw that well monitor do BioStrand quarter, given what continue And happy we we LENSai a increase significant And a That absolutely. indicating -- significant of

using unilaterally this at drug LENSai discovery point for client programs. almost is very still largest Our complex

have just that signed been also that's additional contracts group. So with significant a new and contribution, we

definition of contract novo accomplished the from back get have continue. of saying They've because first which all could. And could good else and wet group has we that them. able their to building BioStrand multitude that but have anecdotally, only was BioStrand also they've So AI not also one that, just lab, first now really And that, that reason that BioStrand therapeutic not before a different what recognize that talked tried asked to from been their about had results not been technology. true companies that the de said to come and had that BioStrand for and execute on has that, discovery do the they've believe BioStrand will for entirely no de they faith I was this given molecule a novo also actually specifically think in able they the successful, company we've validate ever to been they capabilities of and a in

-- alongside that, not to the contracts in continue course, to use also addition monitoring we they're that feedback to faith the anecdotal of new of that us them. just, So of and in those putting but sort signing expand

and on balance all A our helpful. capital That's sheet. it. question super structure Got

optimizing that capital that divestiture curious you're how from of price kind lagged with our the on since of to our the pretty I'm the just your we thoughts guys' that assets I pay badly structure. summer. get on proceeds think we European it's whether financing what or not share took has a off over convertible the coincidence are just thinking about

that we heard painfully been that from a aware because That's for Will, shareholders difficult retail optics of have alike. that shareholders. particular institutional the And and directly question, shareholders great transaction some Yes. we've are

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of event the fiscal the that So yes, from of that year-end. would capital part be end at the an expected

it. Got

where discovery whatever would ] sense. you're like. may Just makes if what looks I of we the of with a financial limited Astellas? but this I to update Okay. wondering lot say, helpful. be the or you provide understand That an could be -- on you allowed was sort stand anything program [

future, they it's different if it multiple talking on program information updates to any is, program, the really there's of we're about programs and the anything, it's on and minimal more it current, whether to ongoing, is to other literally something whether it's strategic regard for if still certain there, a -- trying of limited. could to ramping, actually so where with That's tend not because We an an detailed sure partners, right historical, whatever, and share, wanting from declined. they're lawyer a And see them, exception, Well, is appropriate. them to element let's to than out to pretty what's to controlled felt or prevents least just reached word? that of for that their the able asked just bit we contract a are that connect exception public. That of do tightly what And it's with very say, the contract the it's people working the share does I'm with also their And for it too, going was were because -- if see some if not Yes. us wasn't to we according Astellas things turned project types of plan to we what, rationale asked to at to to we over contract incredibly also we able that regard regard is to Astellas and to which little could course, at. details, what it's they really, bring are ones. to where way these seem and the be

details wish So give on that. we we could more

we to. partnerships, are some on sometimes able And

how on look that potential be like on what semiconductor you envision -- that just would how solution Got standpoint? from commercial a And partners? do of Okay. a would companies, Like you this for it. the looking? that like kind Or and then with would co-developing collaboration pharma partnering expand the could us

well. as question great a That's Yes.

ongoing the cloud-based infrastructure toward collaboration with that we current of So that lot gearing for offerings. have, a is

they also trips to everything from pharmaceutical in drug with due whether companies. And a do a to realized X and on project past as bit working many of discovery AI or heard also well, co-offering is we've seeing, through the through then to and the year a level that they we're between technologies intersystem the between enables have into market. this semiconductor have XX the to they technologies of move to through and theme that market, they larger that companies, toward be and was with that groups pharmaceutical due enroll already the common have it vendor a with diligence that started diligence the companies, So groups them manufacturers and proprietary being oftentimes, these back compatible ours, they try that a that's get forth drug and have the don't already good sort expense specifically but onboarding, and which of users different oftentimes discovery X significant as the pretty required people with program into do technologies or have oftentimes are any relationship XX the have relationship chip for not the groups would and the the finances. And months

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European balance it really the question then be the correct? have guess, like elaborate making And And the faster. do have just transform market could base seems investments. two, sheet. private of growing all in that base, hands left at with it. those, smaller additional that you revenue my like I you on Curious traded on is assets. the mentioned probably Got final where possible just while and -- as if of guess would would a some seems we I it like rough you but CROs noted, looking all? And divestitures just estimations possible at one, have I lose revenue, potential to some the this about what our we

Great questions.

don't miss so I here, any. some Let notes me make

Okay.

first all, So with the regard of to divestments. yes,

These But your GLP the just is we right, stably stable trials. that of We which tap a years preclinical to to it's fancy and that of line we just times X solution. interest. I types a -- any are to integrated forever chain, we do But type parts from into We really the step. CRO manufacturing do think revenue make really batch We associated manufacturing of job for end-to-end do That's sort major any saying would fully We a X we over investments a along don't strictly contribute cell don't into do or potential of that perspective last next to we've do going to moving CRO the produce don't to great next unless building on yet. of cell the a commercial QA/QC those go of the manufacturing out move kind you company don't there trying work. very the way we've development, when look efficacy don't fragmented, you of manufacturing. of about work expect growth which do kind have CRO, as like we with where industries be of of line all starts companies will type discovery, things manufacturing. a how the do X interesting the most it's right? talked How So or obviously molecule of clinical of at kind characterization, or multiple fragmented potential safety well. And or tend done of or development, you preclinical trials. of have release

these move think, constraints very revenue a that So ADC moving be there through has we've markets a regard antibodies, we will really of in Talem multispecifics, strong of done, kind with popped And bispecific, emerging this. of different job into for I overall potential up, all production to have the as been good VHH in focus us.

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do in it and oftentimes of crystallography we're at when here, technology science do of to when of right? able of that have when you matter revenue is of LENSai under assess the that others several to factors sense. We've paying And the where human data-driven the get, a level these able market are industry still a science precision instance, lot in ability the and that make each for millions of and to a to antibody hours. x-ray years. can't look potential we because over growth of level for X for we a look we And at order scan we're the that precision precise aren't they're margins. year, of sometimes takes absolutely, how well BioStrand the and always otherwise. And providing capabilities proteome the of we just it the much it antibodies So going of we starts BioStrand, indicated minute the use more go already can that oftentimes less at so And a for look insights with mapping, go in discovery potential profit faster, are changing we in for in But and many expensive, insights forward, look to at the really where heck how can't. presentation, that, for the development, current available people -- demonstrate seen higher offering dollars informative, capabilities much more BioStrand, as epitope and I well, applications other each they us, times, the through going,

discovery conversation with base now we stronger talk can will and ML. And broader in we development be really can invest I sense potential XXX%, we make higher when all have to even the to as we build how just we someone whether perspectives happened and happen? of the there in do are to And they're faster continue that it's about witnessing they're uses strong be to improve or industry AI the lot and been like see show capabilities continuing That's are this that we to space. already doesn't growth to And really week the say what AI whether a well evidence really time can see in actually that know be with a on there's out and impact show really continuing these just them. only lab what active happened they'll going see changes an and every better to market. much has a that you from So as wet do, to of as in we're here it as the many it, it,

seeing, So not yes, from we makes we're that what sense, for just from but see industry. tremendous us, what the

the growth we're what course, course, So to do And that right should we to faster not, from expect of we're we potential. aware where market perspective revenue of continues well of going recover building be away, a not go. but on,

I in the investment. ground then job where always a needed we've our the companies you what like market, done is of that's to good think need having and of what going. And ear understanding additional mentioned and possible this pharma

downstream throughput. So yes, BioStrand. different that to bit something a rapid, really we're to pretty development discovery just and that coming characterization data to be little of then this back traditional a And into pipeline. LENSai. out data us what I just work because, than high it being and are type is all data, extremely alluded different a of in We extremely we kind silico And -- requires demand The that of see want feed in of work data. slightly interested it in supports of course, needs

the people And developed a there been for has time is technologies. lab also in with incredibly on increased technologies a market available group of with connects unique just significant to technologies wet are technologies area. for of innovative a that we've seeing the it Boston not communicating continued phenomics. location. so things a readily in and AI also that like amount what right is the we're and those group of on demand that and And area Many And things working then

as be and the as for to coming versus note, closely the innovation that well continue that we eyes-based customized downstream production really requests I'd packages And epitope programs, in we discovery with Canada the in there months we based and in these can other only happening cheaply with investment about paid work was and asks offer -- of more Canada because as technologies silico. And and as or also community the but off at looking groups. for that would Expansion Boston. to is the own kind these packages and of for that course, Canada a of as champions will animal-based mention kind down of up remiss be adopter where ago slow kind they're rapidly also development and Hit particular to these first work BioStrand an speed offering, opening paid go that different that offerings occur groups, well very innovating our get technology frequently it's that programs in of that about really, pinpointed there. of not happen to within BioStrand opportunity but and very to oftentimes, at to group that these of Canada where innovate trajectory the are is being X BioStrand. what way up really as a in we we on to out addition also so integrated being in a not the all into can of work human-like closely innovation of do human And integrate R&D that's hub standard for working will the on Slightly bidding, depending a to potential continue the developability, et them internal And that, immunogenicity, provide whether screening the also that mentioned not cetera. location itself But

more with data loop And us, we the of a this reaching it complex expenditures I of having also limited has so many really savings a resources standardized think processing operating offering, max operating have believe also again, on potential, different more a in because structure stronger and pipeline. where locations streamlined not streamline to But but that margins with some of specific and streamlining going kind very the losing feedback unified preparation and initiative not importance of offerings. into receive, we integration right out profit significant this, able with in much groups that with, the highlighting, forward, offering bit that And a for being part have also is and where you higher you Canada, growth corporate also revenue capabilities can that higher rebranding so costs, for much a really of cases, then but only cost more the this is of margin potential. stand-alone much the with offering tied around in profit with facilities LENSai, you now, synergistic

That's it. helpful. Got super

base, So higher be all we'll cash some but a we'll in it lower it's improved the be sheet of it revenue megatrends seems kind much have aligned and space. balance well putting growing faster, extremely happening of with like -- together, have slightly the much margins,

fewer And the we will that locations operating one with well, we years also all X those making assumption as are officer well. as then the and have associated Exactly. and several capital of reduced overhead

be Chief transaction. that also Officer will part of Our a Scientific

your will to our hand the CEO, the Jennifer call. Bath, I call questions. for you conclude now over insightful Thank to Dr.

second one relog my into need I'll you. Thank back computer. to

Okay. All right.

Regina. So so thank you much,

So out One here. just closing here. us second

Okay.

hope a announcements, and the the to rebranding We're relocation company. to not drug We an the adapting with agile, also that future labs So align divestiture thank wet discovery. initiative, the more our focused clear through it's more and innovative upcoming today's all of joining of create European a for Austin, our to vision us again you just today. they

the actively offering democratization it. are marketplace We efficiency, the accelerate on drug discovery. imminent computational our and we're shaping With our expanding to poised launch AWS, enhanced partnerships of of

significant journey break continue ground. Our science-powered new where solutions will to one is of potential technology-driven

clinical joining toward impact ultimately committed ahead, advancing As us health. Thank a we remain delivering therapeutics profound to we you to on global today. making and stakeholders, success so for forge value our much

you call. And this Thank will conclude today's all for joining.

disconnect. now may You