Standard BioTools Cuts FY24 Revenue Guidance From $200M - $205M To $170M - $175M (Est $201.176M; On-Track To Achieve Anticipated Break-Even Adjusted EBITDA For 2026
Portfolio Pulse from Benzinga Newsdesk
Standard BioTools has revised its FY24 revenue guidance downwards from $200M-$205M to $170M-$175M, which is below the estimated $201.176M. The company remains on track to achieve its anticipated break-even adjusted EBITDA for 2026.
July 31, 2024 | 10:21 pm
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Standard BioTools has lowered its FY24 revenue guidance to $170M-$175M, significantly below the previous guidance of $200M-$205M and the estimated $201.176M. Despite this, the company is on track to achieve break-even adjusted EBITDA by 2026.
The significant reduction in revenue guidance is likely to negatively impact investor sentiment and the stock price in the short term. However, the company's long-term goal of achieving break-even adjusted EBITDA by 2026 may provide some support.
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IMPORTANCE 80
RELEVANCE 100