Telesis Bio Sees Prelim. 2023 Total Consolidated Revenue Of $27.5M, Up From $27.4M YoY; Sees FY24 Total Revenue $7M, Down From $9.5M YoY
Portfolio Pulse from Benzinga Newsdesk
Telesis Bio (TBIO) reports a slight increase in its preliminary 2023 total consolidated revenue to $27.5M from $27.4M YoY. However, it forecasts a significant drop in FY24 total revenue to $7M from $9.5M YoY, attributed to capital spending weakness and a shift towards lower-priced BioXp 3250 instruments. Excluding BioXp instrument sales and discontinued BioFoundry Services, FY23 revenue saw a 12.4% increase to $20.9M from $18.6M.
February 26, 2024 | 2:17 pm
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Telesis Bio anticipates a slight revenue increase in 2023 but projects a significant revenue drop in 2024 due to market challenges and a shift towards lower-priced products.
The projected significant drop in revenue for FY24 is a negative signal for investors, indicating potential challenges in the company's market and product strategy. The slight increase in FY23 revenue may not be sufficient to offset the concerns about the future revenue decline, especially when considering the shift towards lower-priced products and the discontinuation of certain services.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100