Standard BioTools Inc
Standard BioTools Inc. develops and sells life-science tools used for proteomics and single-cell analysis, including instruments, consumables, assay kits, and related services. The company serves biopharmaceutical companies and academic research institutions, with operations centered in the United States and commercial reach into research markets outside the U.S.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueProteomics and analytical instruments sold to research and biopharma customers.
Reagents, consumables, and SomaScan assay kits used with installed instruments.
SomaScan assay services and biomarker data generation on customer samples.
Post-warranty service contracts, maintenance, installation, and training.
R&D services, license agreements, grants, and royalties.
Products
Reported · share of revenue- Consumables42.5 %
- Instruments29.8 %
- Service and Other Revenue27.7 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The company sells primarily to biopharmaceutical companies and academic research universities that need proteomics tools, assay capacity, and biomarker data. Its customer base also includes KOLs and other research collaborators that help validate and expand adoption of its platform. Demand is tied to research budgets, instrument placements, and the number of active assay sites using its consumables and services.
Buy instruments, consumables, and lab services for drug discovery, biomarker discovery, and translational research.
Use proteomics assays and services for basic and translational research funded by grants and institutional budgets.
Partner on validation and platform expansion to support adoption and new market channels.
Operate SomaScan assays and drive recurring kit and service usage through active testing volumes.
Strategy
The company is focused on expanding its proteomics content, assay capabilities, and AI/ML analytics to deepen the value of its platform. It also emphasizes growing instrument placements and authorized sites, which support recurring consumables and service revenue and broaden customer adoption. Operationally, it is working to improve manufacturing efficiency and commercial execution while evaluating portfolio and transaction options.
A broader menu of reagents and panels strengthens the platform and supports more research use cases.
More instruments and sites drive recurring consumables, assay kits, and field services.
Proteomics databases and AI/ML analytics can improve differentiation and customer value.
Lower unit costs and better execution support scalability and product competitiveness.
Geography
Q1/2026The company is based in the United States and its disclosures indicate that its proteomic services are expected to expand beyond the U.S. over time. Its customer mix includes domestic and international research markets, with geography affecting procurement cycles, service delivery, and collaboration opportunities. No country-level revenue split was disclosed in the provided excerpts.
Share of the revenue the company reports by geography.
Risks
The business depends on adoption of specialized proteomics products and services, so slower customer uptake or weaker research spending can affect demand. It also faces execution risk from manufacturing complexity, seasonal procurement patterns, and the need to keep expanding its scientific content and platform capabilities. Financial reporting is sensitive to goodwill and long-lived asset impairment judgments, especially when market capitalization weakens.
Portfolio changes or pending transactions can disrupt operations, employees, and customer relationships.
Exposure: Business units and strategic assets
Revenue depends on winning new contracts, expanding existing accounts, and growing instrument placements.
Product and service margins depend on raw materials, production yields, and capacity utilization.
A decline in market capitalization or weaker forecasts can trigger non-cash impairment charges.
Exposure: Reporting units and acquired intangibles
Government- and grant-funded customers often buy around fiscal year ends, creating quarter-to-quarter volatility.
Exposure: Research customers and academic demand
Accounting
Judgemental itemsProducts, services, collaborations, grants, and royalties may follow different recognition patterns.
Impact: Affects revenue timing and mix
Government and grant-funded customer cycles can shift revenue into specific quarters.
Impact: Affects quarterly comparability
Consumables and reagents can require write-downs if demand or usage changes.
Impact: Affects cost of product revenue and gross margin
Valuation depends on forecasts, discount rates, and market capitalization relative to book value.
Impact: Can create non-cash charges
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Last updated: 24/09/2026