Completed commercial restructuring and made significant progress in product development, including the upcoming launch of Chromium Single Cell Gene Expression Flex V2.
Maintained strong cost management and further strengthened the balance sheet, positioning well for future growth.
Biopharma segment reorganized for better focus and visibility, with continued challenges in biotech funding but stable momentum in large pharma.
Majority of customers have transitioned to GenX consumables, with NextGen being phased out to accelerate final conversions.
Strategic acquisition of Scale Biosciences to enhance barcoding and scaling capabilities in single cell analysis.
Academic end markets remain cautious due to ongoing funding uncertainties, especially in the U.S., with no significant change in sentiment recently.
Global environment for capital equipment purchases is subdued, with increased scrutiny and pressure on instrument investments.
Biopharma customers, especially biotech, continue to face funding challenges, while large pharma remains cautious amid policy uncertainties.
Preference for consumables over capital equipment persists, with strong interest in both single cell and spatial applications.
Chromium Flex V2 is set to launch later this year, offering enhanced sensitivity, robustness, and flexibility for large-scale and translational applications.
Flex V2 expected to enable new workflows and support the development of large-scale AI models in biology.
Single cell market shows strong elasticity, with lower price points driving increased reaction volumes and new applications.
Competitive landscape remains favorable, with superior data quality, sensitivity, and customer support cited as key differentiators.
Recent product introductions and the Scale acquisition address cost and scalability, further strengthening market position.
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