Q2 2026 revenue was $151M; excluding $1.6M from a Takara settlement, revenue was $149M, up 3% YoY, driven by strong consumables growth and robust demand for the Atera platform.
Acquisition of Proteintech Genomics for $6.1M in cash to enhance proteomics and multi-omics capabilities.
Strong customer response and high order volume for Atera, with demand exceeding expectations and broad application across disease areas.
AI adoption is driving demand for single-cell and spatial technologies across academia and biopharma.
Multi-year research collaborations announced with Cleveland Clinic and Lausanne University Hospital for oncology biomarker research.
Consumables revenue grew 7% YoY, while instrument revenue declined 47% YoY; services revenue rose 26%.
Gross margin improved to 74% from 72% YoY, aided by lower manufacturing costs and tariff refunds.
Operating expenses were $132.1M, nearly flat YoY when excluding litigation settlement gains.
Net loss for Q2 2026 was $17.9M, compared to net income of $34.5M in Q2 2025.
Cash, equivalents, and marketable securities totaled $552M as of June 30, 2026.
Full-year 2026 revenue guidance raised to $610M–$630M, representing 2–5% growth over 2025, excluding non-recurring items.
Expect to ship ~40 Atera instruments in 2026, with most shipments in Q4; booked orders already exceed this number.
Q3 revenue expected to see a modest sequential step down due to spatial product transition, with a significant Q4 step up as Atera ramps.
Guidance assumes no improvement in the macro environment or academic funding flows.
Operating expenses (excluding settlements) are expected to modestly decrease in 2026 due to ongoing cost management.
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