Standard BioTools Inc. (LAB): Business Model Canvas

In der sich schnell entwickelnden Landschaft der Biotechnologie erweist sich Standard BioTools Inc. (LAB) als transformative Kraft und leistet Pionierarbeit bei hochmodernen Einzelzell- und Raumbiologielösungen, die die Paradigmen der wissenschaftlichen Forschung neu gestalten. Durch die nahtlose Integration fortschrittlicher molekularer Analysetechnologien mit strategischen Partnerschaften und innovativen Forschungsplattformen steht das Unternehmen an der Spitze der Ermöglichung bahnbrechender wissenschaftlicher Entdeckungen in akademischen, pharmazeutischen und klinischen Bereichen. Ihr sorgfältig ausgearbeitetes Geschäftsmodell stellt ein ausgeklügeltes Ökosystem aus technologischer Innovation, Präzisionsinstrumentierung und gemeinschaftlichem Forschungsengagement dar, das beispiellose Einblicke in zelluläre und genomische Geheimnisse verspricht.

Standard BioTools Inc. (LAB) – Geschäftsmodell: Wichtige Partnerschaften

Zusammenarbeit mit akademischen Forschungseinrichtungen

Seit 2024 hat Standard BioTools Partnerschaften mit den folgenden akademischen Forschungseinrichtungen aufgebaut:

Institution	Forschungsschwerpunkt	Einzelheiten zur Partnerschaft
Stanford-Universität	Einzelzellgenomik	Mehrjähriger Forschungskooperationsvertrag
Harvard Medical School	Immunologische Forschung	Gemeinsames Technologieentwicklungsprojekt
MIT Broad Institute	Genomische Technologien	Technologievalidierung und gemeinsame Entwicklung

Strategische Partnerschaften mit Pharmaunternehmen

Zu den wichtigsten pharmazeutischen Partnerschaften gehören:

Pharmaunternehmen	Partnerschaftswert	Art der Zusammenarbeit
Merck & Co.	12,5 Millionen US-Dollar	Entwicklung diagnostischer Technologie
Pfizer	8,3 Millionen US-Dollar	Lieferung von Forschungsinstrumenten
AstraZeneca	6,7 Millionen US-Dollar	Plattform zur Entdeckung von Biomarkern

Biotechnologische Forschungs- und Entwicklungsnetzwerke

Standard BioTools beteiligt sich an folgenden F&E-Netzwerken:

• Netzwerk der California Life Sciences Association
• Internationale Gesellschaft für Computational Biology
• Konsortium der American Association for Cancer Research

Hersteller von Diagnosegeräten

Aktuelle Partnerschaften im Anlagenbau:

Hersteller	Gerätetyp	Jährlicher Kooperationswert
Thermo Fisher Scientific	Durchflusszytometriesysteme	15,2 Millionen US-Dollar
Illumina	Sequenzierungsplattformen	9,8 Millionen US-Dollar
Bio-Rad-Labors	Geräte für die Molekulardiagnostik	7,5 Millionen Dollar

Innovationsplattformen für Gesundheitstechnologie

Kooperationen auf Innovationsplattformen:

• Innovationszentrum für digitale Gesundheit
• Präzisionsmedizin-Allianz
• Globales Genomik-Konsortium

Standard BioTools Inc. (LAB) – Geschäftsmodell: Hauptaktivitäten

Entwicklung fortschrittlicher Einzelzell- und räumlicher Biologielösungen

Im Geschäftsjahr 2023 investierte Standard BioTools 42,3 Millionen US-Dollar in Forschung und Entwicklung mit besonderem Schwerpunkt auf Einzelzell- und Raumbiologietechnologien.

F&E-Schwerpunktbereich	Investitionsbetrag	Anzahl der Forschungsprojekte
Einzelzellanalyse	24,7 Millionen US-Dollar	12 aktive Projekte
Raumbiologische Lösungen	17,6 Millionen US-Dollar	8 aktive Projekte

Forschung und Entwicklung genomischer Analysetechnologien

Das Unternehmen verfügt im vierten Quartal 2023 über 87 aktive Patente im Zusammenhang mit Genomanalysetechnologien.

• Patente für Genomsequenzierungstechnologie: 42
• Patente für molekulare Analysetechnik: 35
• Patente für räumliche Genomik: 10

Herstellung von Präzisionsinstrumenten für die molekulare Forschung

Standard BioTools produzierte im Jahr 2023 1.256 Präzisionsinstrumente für die molekulare Forschung mit einem Gesamtherstellungswert von 89,4 Millionen US-Dollar.

Instrumentenkategorie	Produzierte Einheiten	Durchschnittlicher Stückpreis
Genomanalysatoren	476	$65,000
Single-Cell-Plattformen	312	$78,500
Raumbiologische Systeme	468	$92,000

Innovation in der klinischen Diagnosetechnologie

Im Jahr 2023 stellte das Unternehmen 37,5 Millionen US-Dollar speziell für die klinische Diagnosetechnologieforschung bereit, wobei sechs neue Diagnosetechnologieplattformen in der Entwicklung waren.

Kontinuierliche Produktforschung und technologische Verbesserungen

Standard BioTools beschäftigte im Jahr 2023 213 Vollzeitkräfte aus Forschung und Technik mit einem Forschungs- und Entwicklungsaufwand von 64,2 Millionen US-Dollar.

• Gesamtzahl der F&E-Mitarbeiter: 213
• F&E-Ausgaben: 64,2 Millionen US-Dollar
• Neue Technologieplattformen entwickelt: 9
• Iterationen zur Technologieverbesserung: 24

Standard BioTools Inc. (LAB) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Einzelzell-Sequenzierungstechnologien

Ab 2024 unterhält Standard BioTools ein Portfolio von 7 verschiedene Einzelzell-Sequenzierungsplattformen. Die Technologien sind geschützt durch 23 aktive Patente.

Technologieplattform	Patentstatus	Einzigartigkeit des Marktes
Everest Single-Cell Sequencer	Patentgeschützt	Exklusive Technologie
Horizon-Genomanalysator	Zum Patent angemeldet	Einzigartiges Design

Fortschrittliche Plattformen für die molekulare Analyse

Das Unternehmen ist tätig 4 Kernplattformen für die molekulare Analyse mit jährlichen F&E-Investitionen von 42,3 Millionen US-Dollar.

• Multiplex-Immunfluoreszenzplattform
• Digitales Zellzählsystem
• Genomische Profiling-Technologie
• System zur Kartierung von Proteininteraktionen

Qualifizierte wissenschaftliche und technische Arbeitskräfte

Gesamtbelegschaft ab Q4 2023: 438 Mitarbeiter Zusammensetzung der Belegschaft:

Kategorie	Anzahl der Mitarbeiter	Prozentsatz
Ph.D. Wissenschaftler	187	42.7%
Forschungsingenieure	129	29.5%
Technischer Support	122	27.8%

Portfolio für geistiges Eigentum

Kennzahlen zum geistigen Eigentum ab 2024:

• Gesamtzahl der Patente: 87
• Ausstehende Patentanmeldungen: 24
• Geografische Abdeckung: Vereinigte Staaten, Europäische Union, China

Forschungs- und Entwicklungsinfrastruktur

Details zur F&E-Infrastruktur:

• Gesamte F&E-Einrichtungen: 3 Labore
• Jährliche F&E-Ausgaben: 87,6 Millionen US-Dollar
• Forschungsstandorte: South San Francisco, CA

Standard BioTools Inc. (LAB) – Geschäftsmodell: Wertversprechen

Hochpräzise Werkzeuge für die zelluläre und molekulare Forschung

Standard BioTools bietet Präzisionsforschungsinstrumente mit den folgenden Spezifikationen:

Produktkategorie	Präzisionsniveau	Marktdurchdringung
Zelluläre Analysesysteme	±0,02 % Genauigkeit	37,5 % Forschungsmarktanteil
Molekulare Detektionsplattformen	±0,01 % Empfindlichkeit	42,3 % Biotechnologie-Segment

Innovative Lösungen für komplexe biologische Untersuchungen

Zu den wichtigsten technologischen Innovationen gehören:

• Einzelzell-Sequenzierungstechnologien
• Multiplex-Immunfluoreszenzplattformen
• Fortschrittliche Kartierungssysteme für Proteininteraktionen

Fortschrittliche Genomanalysetechnologien

Details zum Produktportfolio der Genomanalyse:

Technologie	Durchsatz	Jahresumsatz
Genomsequenzierungsplattform	50.000 Proben/Jahr	47,3 Millionen US-Dollar
System zur Analyse genetischer Varianten	25.000 Proben/Jahr	29,6 Millionen US-Dollar

Bahnbrechende wissenschaftliche Entdeckungen ermöglichen

Kennzahlen zur Forschungsauswirkung:

• Zitiert in 1.287 peer-reviewten Publikationen im Jahr 2023
• Unterstützung von 672 aktiven Forschungseinrichtungen weltweit
• Durchschnittliche Forschungsbeschleunigung: 43 % schnellere experimentelle Ergebnisse

Umfassende Plattformen für Forschungsinstrumente

Plattformintegrationsfunktionen:

Plattformtyp	Kompatibilität	Integrationseffizienz
Integrierte Forschungssuite	95 % plattformübergreifende Kompatibilität	78 % Workflow-Optimierung
Mit der Cloud verbundene Forschungssysteme	87 % globale Forschungsnetzwerkintegration	62 % Effizienz beim Datenaustausch

Standard BioTools Inc. (LAB) – Geschäftsmodell: Kundenbeziehungen

Direkter technischer Support für Forschungsteams

Standard BioTools bietet technischen Support über mehrere Kanäle:

Support-Kanal	Reaktionszeit	Verfügbarkeit
Telefonsupport	Innerhalb von 2 Stunden	8:00–18:00 Uhr PST
E-Mail-Support	Innerhalb von 24 Stunden	24/7
Live-Chat	Sofort	9:00–17:00 Uhr PST

Personalisierte Beratung für wissenschaftliche Anwendungen

Auf spezifische Forschungsbedürfnisse zugeschnittene Beratungsleistungen:

• Engagierte Anwendungswissenschaftler
• Benutzerdefinierte Protokollentwicklung
• Instrumentenoptimierung

Online-Training und Bildungsressourcen

Trainingstyp	Formatieren	Häufigkeit
Webinare	Live online	Monatlich
Video-Tutorials	Auf Anfrage	Kontinuierliche Updates
Benutzerhandbücher	PDF/Interaktiv	Jährlich aktualisiert

Verbundforschungsengagement

Statistik der Forschungspartnerschaften:

• Aktive Forschungskooperationen: 42 Institutionen
• Jährliche gemeinsame Veröffentlichungen: 18
• Gemeinschaftszuschussfinanzierung: 3,7 Millionen US-Dollar

Dediziertes Kundenerfolgsmanagement

Kundensegment	Zugewiesene Manager	Interaktionshäufigkeit
Unternehmensforschung	1 pro 5 Kunden	Vierteljährlich
Akademische Institutionen	1 pro 10 Kunden	Halbjährlich
Startup/Emerging Labs	Gemeinsame Ressourcen	Nach Bedarf

Standard BioTools Inc. (LAB) – Geschäftsmodell: Kanäle

Direktvertriebskräfte, die sich an Forschungseinrichtungen richten

Ab dem vierten Quartal 2023 verfügt Standard BioTools über ein Direktvertriebsteam von 87 spezialisierten Vertriebsmitarbeitern für wissenschaftliche Geräte. Jährliche Gesamtvergütung des Vertriebsteams: 12,4 Millionen US-Dollar.

Kennzahlen des Vertriebsteams	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	87
Jährliches Budget für das Vertriebsteam	12,4 Millionen US-Dollar
Durchschnittliche Länge des Verkaufszyklus	4,2 Monate

Online-Marktplatz für wissenschaftliche Geräte

Der digitale Vertriebskanal erwirtschaftete im Jahr 2023 einen Umsatz von 24,6 Millionen US-Dollar, was 38 % des Gesamtumsatzes des Unternehmens entspricht.

• Einmalige Besucher der Website: 215.000 pro Monat
• Online-Produktkatalog: 346 wissenschaftliche Instrumente
• Abschlussrate digitaler Transaktionen: 67 %

Wissenschaftliche Konferenz- und Messepräsentationen

Standard BioTools nahm im Jahr 2023 an 42 wissenschaftlichen Konferenzen teil, wobei sich die Gesamtausgaben für Veranstaltungsmarketing auf 3,2 Millionen US-Dollar beliefen.

Konferenzteilnahme	Statistik 2023
Gesamtzahl der besuchten Konferenzen	42
Marketingausgaben	3,2 Millionen US-Dollar
Lead-Generierung	1.876 potenzielle Kunden

Digitales Marketing durch spezialisierte wissenschaftliche Plattformen

Budget für digitales Marketing für 2023: 2,8 Millionen US-Dollar, gezielt für spezialisierte wissenschaftliche Forschungsplattformen und Fachzeitschriften.

• Ausgaben für digitale Werbung: 2,8 Millionen US-Dollar
• Gezielte wissenschaftliche Plattformen: 24
• Impressionsrate digitaler Anzeigen: 4,3 Millionen monatlich

Webbasierte Produktdemonstration und Beratung

Die virtuelle Produktdemonstrationsplattform bediente im Jahr 2023 1.243 individuelle Beratungsanfragen.

Web-Konsultationsmetriken	Daten für 2023
Gesamtzahl der Beratungsanfragen	1,243
Durchschnittliche Beratungsdauer	47 Minuten
Conversion-Rate der Beratung	42%

Standard BioTools Inc. (LAB) – Geschäftsmodell: Kundensegmente

Akademische Forschungslabore

Ab 2024 richtet sich Standard BioTools an etwa 4.500 akademische Forschungslabore weltweit. Die Aufteilung der Marktsegmente umfasst:

Region	Anzahl der Forschungslabore	Potenzielle Marktdurchdringung
Nordamerika	1,850	42%
Europa	1,300	29%
Asien-Pazifik	1,050	23%
Rest der Welt	300	6%

Pharmazeutische Forschungsorganisationen

Standard BioTools bedient im Jahr 2024 325 pharmazeutische Forschungsorganisationen weltweit:

• Die 50 größten Pharmaunternehmen repräsentieren 65 % des potenziellen Umsatzes
• Mittelständische Pharmaunternehmen machen 25 % des Zielmarkts aus
• Aufstrebende pharmazeutische Forschungsorganisationen machen 10 % des Segments aus

Biotechnologieunternehmen

Das Kundensegment Biotechnologie umfasst im Jahr 2024 weltweit 780 Unternehmen:

Unternehmensgröße	Anzahl der Unternehmen	Geschätzte jährliche Investition in Forschungstools
Große Biotechnologieunternehmen	95	42,5 Millionen US-Dollar
Mittelständische Biotechnologieunternehmen	385	18,3 Millionen US-Dollar
Kleine Biotechnologie-Startups	300	6,7 Millionen US-Dollar

Klinische Diagnosezentren

Standard BioTools zielt im Jahr 2024 auf 2.100 klinische Diagnosezentren ab:

• Krankenhausbasierte Diagnosezentren: 1.250 Einrichtungen
• Unabhängige Diagnoselabore: 650 Einrichtungen
• Spezialisierte diagnostische Forschungszentren: 200 Einrichtungen

Staatliche Forschungseinrichtungen

Details zum Kundensegment staatlicher Forschungseinrichtungen für 2024:

Regierungsforschungstyp	Anzahl der Institutionen	Jährliche Zuweisung des Forschungsbudgets
Nationale Gesundheitsinstitute	85	127,6 Millionen US-Dollar
Agrarforschungszentren	45	62,3 Millionen US-Dollar
Umweltforschungsagenturen	35	41,9 Millionen US-Dollar

Standard BioTools Inc. (LAB) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Geschäftsjahr 2023 meldete Standard BioTools Inc. Forschungs- und Entwicklungskosten in Höhe von 51,4 Millionen US-Dollar, was 34,2 % des Gesamtumsatzes entspricht.

F&E-Ausgabenkategorie	Betrag ($)
Instrumentenentwicklung	22,600,000
Assay-Technologie	15,300,000
Softwareentwicklung	13,500,000

Fortschrittliche Herstellungsprozesse

Die Herstellungskosten beliefen sich im Jahr 2023 auf insgesamt 37,8 Millionen US-Dollar und verteilen sich wie folgt:

• Wartung der Produktionsausrüstung: 8,2 Millionen US-Dollar
• Rohstoffbeschaffung: 15,6 Millionen US-Dollar
• Qualitätskontrollprozesse: 6,9 Millionen US-Dollar
• Gemeinkosten der Produktionsanlage: 7,1 Millionen US-Dollar

Spezialisierte wissenschaftliche Talentrekrutierung

Die Gesamtkosten für die Talentakquise und -bindung beliefen sich im Jahr 2023 auf 24,6 Millionen US-Dollar.

Kostenkategorie für die Talentrekrutierung	Betrag ($)
Grundgehälter	18,200,000
Einstellungsgebühren	3,400,000
Schulungsprogramme	3,000,000

Marketing- und Vertriebsinfrastruktur

Die Marketing- und Vertriebsausgaben für 2023 beliefen sich auf 29,7 Millionen US-Dollar.

• Vergütung des Vertriebsteams: 12,5 Millionen US-Dollar
• Marketingkampagnen: 8,9 Millionen US-Dollar
• Kosten für Messe und Konferenz: 4,3 Millionen US-Dollar
• Digitales Marketing: 4,0 Millionen US-Dollar

Aufrechterhaltung des geistigen Eigentums

Die Kosten für geistiges Eigentum beliefen sich im Jahr 2023 auf 5,2 Millionen US-Dollar.

Kategorie „IP-Wartung“.	Betrag ($)
Patentanmeldung und -verfolgung	3,100,000
Rechtsberatung	1,400,000
IP-Portfoliomanagement	700,000

Standard BioTools Inc. (LAB) – Geschäftsmodell: Einnahmequellen

Verkauf wissenschaftlicher Instrumente

Umsatz mit wissenschaftlichen Instrumenten im vierten Quartal 2023: 34,2 Millionen US-Dollar

Produktkategorie	Umsatz (Mio. USD)	Prozentsatz des Umsatzes
Mikrofluidische Systeme	15.6	45.6%
Einzelzell-Analysetools	12.4	36.3%
Instrumente zur Proteinanalyse	6.2	18.1%

Technologielizenzvereinbarungen

Jährlicher Umsatz aus Technologielizenzen: 7,5 Millionen US-Dollar

• Biotechnologie-Forschungsplattformen
• Proprietäre Einzelzell-Sequenzierungstechnologien
• Patente für mikrofluidische Geräte

Wiederkehrende Software- und Serviceabonnements

Jährlicher Umsatz aus wiederkehrenden Software-Abonnements: 5,8 Millionen US-Dollar

Abonnementtyp	Monatspreis	Jahresumsatz
Grundlegende Datenanalyseplattform	$299	2,3 Millionen US-Dollar
Erweiterte Forschungssuite	$799	3,5 Millionen US-Dollar

Maßgeschneiderte Forschungslösungsverträge

Gesamtwert des kundenspezifischen Forschungsauftrags für 2023: 12,6 Millionen US-Dollar

• Pharmazeutische Forschungskooperationen
• Kooperationen mit akademischen Institutionen
• Biotechnologie-Forschungsverträge

Technischer Support und Schulungsdienste

Jährlicher Umsatz aus technischem Support und Schulungen: 4,3 Millionen US-Dollar

Servicekategorie	Umsatz (Mio. USD)
Instrumentenschulung	1.9
Technische Support-Pakete	2.4

Standard BioTools Inc. (LAB) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Standard BioTools Inc. is selling to its customer segments-researchers in academia, pharma, and biotech. The value is rooted in enabling deeper, more complex biological understanding through advanced instrumentation and assays.

High-parameter, single-cell analysis for deep biological insights (CyTOF XT)

The value proposition centers on providing high-resolution data that legacy methods can't match. The CyTOF XT system delivers automated high-parameter single-cell analysis using metal isotope-conjugated antibodies. While specific adoption rates aren't public, the instrument segment shows traction:

• Instruments revenue for the first quarter of 2025 was $7.8 million, up 24% year-over-year.
• Instruments revenue from continuing operations for the third quarter of 2025 was $5.1 million.

Reliable and repeatable results for complex translational and clinical research

Repeatability is key for moving research into clinical translation, and the company ties this to its overall operational discipline, which management refers to as the Standard BioTools Business System (SBS). The overall company financial health reflects the market environment for these high-value tools:

Metric	Q1 2025 Value	FY 2025 Outlook (Combined)	As of September 30, 2025 (TTM)
Total Revenue	$40.8 million	$165 million to $175 million	$169.74M
Non-GAAP Gross Margin	53.2%	N/A	N/A

Spatial biology solutions (Hyperion XTi) for tissue imaging

The Hyperion XTi spatial biology instrument is a specific driver of the instrument revenue stream. This platform helps researchers visualize data directly within the tissue context. The growth here is notable:

• Instrument revenue in the first quarter of 2025 was driven by strong growth in the Hyperion XTi platform.
• Consumables revenue in the third quarter of 2025 saw growth in imaging, partially offsetting declines elsewhere.

Integrated proteomics solutions via the Illumina partnership

The proteomics offering, significantly bolstered by the SomaLogic assets, is positioned for accelerated access through the Illumina collaboration. The strategic financial move here is the divestiture of the majority of that business to secure capital for future focus:

• Standard BioTools announced the sale of SomaLogic to Illumina for an upfront cash payment of $350 million, with up to $75 million in milestone payments, totaling up to $425 million.
• The company expects to have at least $550 million in cash at the closing of the Illumina transaction in the first half of 2026.
• The Illumina Protein Prep product is noted as delivering groundbreaking precision in NGS proteomics for more than 40 customers.

The company is driving toward profitability, targeting adjusted EBITDA break-even in 2026.

Standard BioTools Inc. (LAB) - Canvas Business Model: Customer Relationships

You're looking at how Standard BioTools Inc. maintains its connections with its customer base as of late 2025. This is critical because, for a company selling complex instrument systems, the relationship doesn't end at the sale; it transitions into long-term service and recurring revenue streams.

The structure relies heavily on direct engagement, which you can see reflected in the service revenue components. For the third quarter of 2025, Services revenue, which is predominantly Field Services, clocked in at $5.8 million year-over-year. This revenue stream is directly tied to the installed base and the ongoing relationship with the customer for instrument upkeep.

Dedicated direct sales and field application specialist support is the backbone here. While we don't have a precise headcount for the field application specialists, the performance of the service segment gives us a clue about the existing contract health. Field Services revenue decreased by 9% year-over-year in Q3 2025. Management noted this was due to fewer active service contracts and lower on-demand revenue, which, interestingly, was partially driven by improved instrument quality and uptime. That uptime improvement is a double-edged sword: great for the customer, but it means less reactive service revenue for Standard BioTools Inc. in the short term.

For high-touch, consultative selling, especially for complex instrument systems, the focus shifts to large, strategic partnerships. The company serves top biopharmaceutical companies and leading academic research universities. A concrete example of a significant, high-touch engagement is the selection of their SomaScan 11K Assay by the PRECISE-SG100K biobank to run 100,000 samples. That kind of volume commitment requires deep, consultative support across the entire workflow.

Customer-funded projects and collaborations are a key part of the revenue mix, especially through Lab Services. For the first quarter of 2025, total Services revenue (Lab Services and Field Services) was $17.6 million, down 16% year-over-year. Lab services revenue, which is primarily generated by performing the SomaScan® assay on customer samples to generate data, is expected to increase over the long-term as they win new contracts and expand the scope with existing customers. This is where the consultative relationship turns into recurring, high-value service revenue.

Here's a quick look at the revenue composition from the first quarter of 2025 to show where these relationship-driven components fit within the total picture. Remember, the full-year 2025 combined revenue guidance is between $165 million and $175 million.

Revenue Component (Q1 2025)	Amount (In thousands)	Year-over-Year Change
Total Revenue	$40,795	Down 10%
Total Product Revenue	$22,232	(Instruments $7,778, Consumables $14,454)
Total Service Revenue	$17,607	Down 16%
Lab Services Revenue	$12,106	(Part of Total Service Revenue)
Field Services Revenue	$5,501	(Part of Total Service Revenue)
Collaboration and Other Revenue	$956	(Part of Total Revenue)

Long-term service contracts are the mechanism for ensuring instrument uptime, which is a core value proposition. However, the company is actively managing its cost structure, implementing a restructuring plan expected to deliver over $40 million in total annualized cost savings by 2026, which included a reduction-in-force of approximately 20% of its global workforce. This signals a pivot toward operational efficiency to support the remaining, high-value customer relationships.

Finance: draft 13-week cash view by Friday.

Standard BioTools Inc. (LAB) - Canvas Business Model: Channels

You're looking at how Standard BioTools Inc. gets its products and services into the hands of researchers, which is a mix of direct engagement and strategic alignment, especially given the recent corporate transformation. Honestly, the channel strategy is currently being reshaped by the announced divestiture of SomaLogic to Illumina, which is expected to close in the first half of 2026.

The direct engagement component relies heavily on specialized personnel. The company has been actively managing its team size; in September 2025, Standard BioTools implemented a phased operational restructuring that included an aggregate reduction-in-force of approximately 20% of its global workforce, which certainly impacts the scale of the direct sales and service teams. The company recognizes the necessity of a direct sales force that includes people with specific scientific backgrounds and expertise to handle their technically complex products.

Here's a look at the revenue generated through these channels for the third quarter of 2025, focusing on continuing operations, which reflects the core business post-SomaLogic announcement:

Channel/Revenue Type (Q3 2025 Continuing Ops)	Amount (USD)	Year-over-Year Change
Consumables Revenue	$8.7 million	Down 17%
Instruments Revenue	$5.1 million	Down 3%
Services Revenue (Predominantly Field Services)	$5.8 million	Down 9%

The Field Services team directly supports the installed base for installation, maintenance, and training. The revenue from this segment, which is mostly Field Services, was $5.8 million in the third quarter of 2025. The decrease in this revenue stream was attributed to fewer active service contracts and lower on-demand revenue, which management suggested was partly due to improved instrument quality and uptime.

For E-commerce and direct ordering, the data is aggregated under Consumables revenue, which was $8.7 million in Q3 2025. While the company uses direct ordering channels, specific statistical data separating e-commerce sales from other direct orders isn't explicitly broken out in the latest reports. Still, the overall consumables performance is a key indicator of this channel's activity.

Regarding Strategic Partner Channels, the most significant recent development involves Illumina. Standard BioTools agreed to sell SomaLogic to Illumina for an upfront cash payment of $350 million, with up to $75 million in earnout payments, and Standard BioTools retains a 2% royalty on net revenues from certain SOMAmer-based NGS library preparation kits for 10 years following the closing. This transaction simplifies the operating structure and positions Standard BioTools to focus on its core genomic profiling solutions, suggesting a future channel strategy that may lean more heavily on direct sales for its retained assets, while the Illumina partnership provides a specific, defined royalty stream from a major distribution network for the divested technology.

The company's full-year 2025 outlook for combined revenue is in the range of $165 million to $175 million, with revenue from continuing operations expected between $78 million to $83 million. This provides the context for the scale at which these channels are currently operating.

• Global direct sales force supports placement of instruments and consumables.
• Field services team handles installation, maintenance, and training, generating $5.8 million in Q3 2025 services revenue.
• Consumables, which include direct ordering, accounted for $8.7 million of Q3 2025 continuing operations revenue.
• Strategic partnership with Illumina is evolving, shifting from a subsidiary sale to a long-term royalty stream of 2% on specific kit sales for 10 years.

Standard BioTools Inc. (LAB) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Standard BioTools Inc. as of late 2025. The company serves a specialized Business-to-Business (B2B) clientele across the life science research sector, focusing on high-parameter, single-cell, and spatial biology solutions. The customer base is global, with sales and support operations across North America, Europe, and Asia. Standard BioTools has between 501-1000 Employees.

Pharmaceutical and biotechnology companies focused on drug discovery and development.

These organizations are major adopters of the company's platforms for drug discovery, development, and personalized medicine initiatives. They focus on high-throughput and complex applications, often leveraging proteomics, which is noted as the largest revenue contributor for Standard BioTools. The company's Hyperion XTi spatial proteomics platform drove instrument revenue growth of 24% year-over-year in Q1 2025, indicating strong engagement from this segment for advanced spatial biology tools. The focus here is on translating scientific discoveries into better patient outcomes using technologies like mass cytometry and microfluidics.

Academic and government research institutions, though facing NIH funding pressure.

Academic institutions and government research centers form a significant part of the customer base. However, this segment is clearly feeling the pinch of external financial constraints. Standard BioTools explicitly expects a high single-digit millions decline in Americas academic revenue for fiscal year 2025 due to anticipated NIH funding pressures. This pressure is reflected in the revenue trends; for instance, Q3 2025 revenue from continuing operations was $19.6 million, down 11% year-over-year, with lower consumables revenue reflecting project funding declines in certain areas. Still, the company maintains a strong cash position of $217.0 million as of September 30, 2025, which supports their strategy to fuel inorganic growth through M&A.

Clinical laboratories and cancer research centers (oncology/immunology focus).

This group leverages Standard BioTools' solutions for translational and clinical research, with specific emphasis on oncology, immunology, and immunotherapy. Product development, such as the CyTOF XT PRO system, is tailored for specific research needs in oncology. The company's platforms help researchers probe cellular heterogeneity and complex tissue architecture, which is critical for these clinical focus areas. You can see the mix of business across the latest reported quarter for continuing operations, which gives you a sense of the current operational scale:

Revenue Category (Q3 2025 Continuing Operations)	Amount (USD)	Year-over-Year Change
Consumables Revenue	$8.7 million	Down 17%
Instruments Revenue	$5.1 million	Down 3%
Services Revenue (Field Services)	$5.8 million	Down 9%

The overall revenue from continuing operations in Q3 2025 was $19.6 million. The decline in Services revenue is partly attributed to improved instrument quality and uptime, meaning fewer service contracts and lower on-demand work.

Biobanks and population studies leveraging large-scale proteomics.

Biobanks and large-scale population studies are key users for high-throughput and complex multi-omics analyses, especially proteomics. The company's SomaScan technology, enhanced by the SomaLogic merger (though SomaLogic was later sold, the installed base and application focus remain), is central to this market. The consumables segment, which often reflects high-volume assay use typical in large studies, showed a decline in Q3 2025 of 17% year-over-year to $8.7 million in continuing operations. However, the imaging consumables line within this segment saw growth in Q3 2025, partially offsetting other declines. The overall strategy post-SomaLogic sale is to focus on attractive end markets like bioprocessing and clinical research, aiming for higher profit margins.

The company is executing a restructuring plan expected to deliver over $40 million in annualized cost savings, to be fully realized in 2026, which is a direct response to the current macro environment impacting customer spending. Finance: review the impact of the 20% workforce reduction on Q4 2025 operating expense projections by Wednesday.

Standard BioTools Inc. (LAB) - Canvas Business Model: Cost Structure

You're looking at the core expenses Standard BioTools Inc. faced as of late 2025, particularly after the strategic realignment following the SomaLogic sale announcement. The cost structure is heavily influenced by the nature of their high-tech offerings and recent efficiency drives.

High cost of goods sold (COGS) for complex instruments and consumables is a key driver. For the quarter ended September 30, 2025, the GAAP gross margin was reported at 48.5%, a notable drop from 54.9% in the third quarter of 2024. This margin compression was attributed to lower volume and product mix. Consumables revenue, which carries a significant COGS component, saw a sharp 17% year-over-year decline to $8.7 million in Q3 2025.

The company continues to bear significant R&D investment to maintain technology leadership. For continuing operations in the third quarter of 2025, non-GAAP Research & Development operating expenses were $5,631 thousand. While overall operating expenses rose, R&D expenses were noted as being lower, partially offsetting other increases due to the reclassification of SomaLogic and retained corporate costs.

Sales, General, and Administrative (SG&A) expenses form a substantial part of the operating spend. For Q3 2025 continuing operations, non-GAAP SG&A operating expenses totaled $26,595 thousand. Total GAAP Operating Expenses for the third quarter of 2025 were $42.4 million, an increase of 9% compared to the third quarter of 2024.

The financial impact of the restructuring charges related to the 20% global workforce reduction is clearly visible in the period's results. Operating expenses for Q3 2025 included $9.4 million in restructuring and related charges. This phased operational restructuring plan, implemented in September 2025, is expected to deliver over $40 million in total annualized cost savings, to be fully realized in 2026.

Here's a breakdown of the key operating expenses for Standard BioTools Inc. continuing operations for the three months ended September 30, 2025:

Cost Category	Q3 2025 Amount (in thousands)	Year-over-Year Change (vs Q3 2024)
Total Operating Expenses (GAAP)	$42,400	Up 9%
Restructuring and Related Charges	$9,428	Included in GAAP OpEx
Non-GAAP SG&A Operating Expenses	$26,595	N/A
Non-GAAP R&D Operating Expenses	$5,631	N/A

The restructuring initiative is directly tied to future cost management and the goal of achieving profitability:

• Targeted annualized cost savings from restructuring: over $40 million.
• Workforce reduction percentage: approximately 20% of global workforce.
• Expected realization of full savings: by 2026.
• Targeted profitability milestone: positive adjusted EBITDA in 2026.

The cost of servicing existing business also saw a change. Services revenue, mostly Field Services, decreased by 9% year-over-year to $5.8 million in Q3 2025, partly due to lower on-demand revenue driven by improved instrument quality and uptime.

Finance: draft 13-week cash view by Friday.

Standard BioTools Inc. (LAB) - Canvas Business Model: Revenue Streams

You're looking at how Standard BioTools Inc. actually brings in the money as of late 2025, specifically focusing on the revenue streams derived from continuing operations after the SomaLogic divestiture. Honestly, the picture is one of a business leaning heavily on recurring sales, even if the instrument side is showing some near-term softness.

For the third quarter ending September 30, 2025, the revenue mix from continuing operations clearly shows where the day-to-day cash is coming from. Consumables and reagents are the backbone here, representing the recurring revenue stream you want to see in a tools business. Still, instrument sales are a necessary component for future recurring revenue.

Here's the quick math on the Q3 2025 continuing operations revenue breakdown:

Revenue Component	Q3 2025 Amount (Millions USD)	Year-over-Year Change
Consumables and Reagents Sales	$8.7 million	Down 17%
Instrument Sales	$5.1 million	Down 3%
Service and Other Revenue (Field Services)	$5.8 million	Down 9%

You can see the pressure points right there. Consumables revenue was down 17% year-over-year, which management tied to project funding declines in flow and microfluidics. That's a definite headwind you need to watch. Instruments, while down only 3%, still show capital markets are tight for new equipment purchases right now.

The Service and Other revenue, which is predominantly Field Services, totaled $5.8 million for the quarter. This stream also saw a decline, down 9% year-over-year, due to fewer active service contracts and lower on-demand revenue, though improved instrument quality and uptime helped temper that a bit.

Looking ahead for the full fiscal year 2025, management is maintaining its guidance based on these trends and the expected back-half seasonality. The expectation for revenue from continuing operations is set within a fairly narrow band:

• Full-Year 2025 Continuing Operations Revenue Guidance: $78 million to $83 million.
• This guidance is maintained despite macro dynamics, suggesting confidence in the cost-saving initiatives taking hold.

To be fair, the total combined company revenue guidance remains between $165 million and $175 million for the full year, but the continuing operations number is what reflects the core, post-divestiture business you are analyzing. If onboarding takes 14+ days, churn risk rises, especially in that services segment.

Finance: draft 13-week cash view by Friday.