Alamar Biosciences (ALMR) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 68% YoY to $33.5M, with gross margin reaching a record 61.5% from 59.7%.

• Net loss increased to $13.3M from $8.0M as operating investment rose; FY 2026 revenue guidance increased to $121M–$123M.

• NULISA adoption advanced through UK Biobank and GSK studies involving 80,000 and more than 60,000 samples, respectively.

Financial highlights

• Q3 revenue was $33.5M versus $19.9M; product revenue grew 68% to $26.3M, and service and other revenue rose 69% to $7.2M.

• Gross profit was $20.6M versus $11.9M; operating expenses rose to $35.8M from $19.8M, including R&D of $16.2M and SG&A of $19.6M.

• Operating loss was $15.1M versus $7.9M; net loss was $13.3M versus $8.0M. Q3 stock-based compensation was $3.9M versus $0.7M.

• 9M revenue reached $89.0M, up 81% YoY; 9M net loss was $47.9M versus $22.7M, including a $10.0M non-cash convertible-note fair-value remeasurement loss.

• Cash, equivalents, short-term investments and restricted cash totaled $231.5M at Sept. 30, 2026, versus $256.3M at June 30.

Outlook and guidance

• FY 2026 revenue guidance rose to $121M–$123M from $116M–$120M, implying 64% growth at the midpoint.

• 2026 targets include at least 100 instrument placements and average annual pull-through above $400,000 per instrument.

• 2027 priorities include a multiplex panel in a new disease area, ARGO HT/DX FDA marketing authorization submission, and diagnostic-enablement partnerships.

• Q4 consumables revenue is expected to increase sequentially, offsetting lower TAP revenue; operating expenses are expected to rise as R&D work planned for 2027 is pulled forward.

• Full-year 2026 stock-based compensation is expected at $13M–$15M; unrestricted cash and short-term investments are expected to fund current plans for at least 12 months.