Achieved strong double-digit growth in single-cell and spatial consumables revenue, with volume increases offsetting pricing declines.
Improved operating profile through cost control, resulting in increased cash position and a stronger balance sheet.
Q2 and Q3 expected to see a step down in revenue, with a substantial increase in Q4 driven by Atera placements.
Annual guidance reinstated, reflecting anticipated double-digit growth in single-cell reactions and spatial consumables.
Confident in meeting guidance, with Q4 expected to show a 17-18% sequential revenue increase.
Launched Atera, the largest platform launch in company history, designed to break through throughput and sensitivity constraints in spatial biology.
Atera offers high throughput, whole transcriptome capability, and works with standard glass slides, enabling large-scale translational studies.
Strong initial demand for Atera, with supply constraints limiting shipments to 40 units in the second half of the year, mostly in Q4.
Early placements prioritized for high-utilization customers, including existing Xenium users and centralized service providers.
Expectation that Atera will eventually consolidate the spatial portfolio, though legacy platforms will remain relevant in the near term.
Investments in manufacturing capacity are moderate, leveraging existing infrastructure in Pleasanton and Singapore.
Consumables margins for Atera designed to be accretive, with margin mix expected to improve as the installed base grows.
Anticipate higher utilization rates for Atera due to its centralized model and higher pull-through potential.
Roadmap includes further automation, multi-omics (including proteins), and advanced software/AI capabilities.
Clinical diagnostics seen as a major future opportunity, with technology advances enabling large-scale clinical evidence generation.
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