Standard BioTools Drops 2026 Revenue Outlook Amid Treeline Merger

The Tip Desk · August 5, 2026 · 2 min read

Second-quarter revenue was $20.1 million as the company said it is on track to close the Treeline Biosciences combination before year-end.

Standard BioTools Inc. (LAB) withdrew its full-year 2026 revenue outlook after a pending merger with Treeline Biosciences, reversing the $80 million to $85 million range it still carried after first-quarter results.

The life-science tools company said the combination is progressing toward a stockholder vote and is anticipated to close before year-end 2026. President and Chief Executive Officer Michael Egholm said the company remains on track, citing a previously filed Form S-4 registration statement, an agreement to divest the Mass Cytometry business, and Illumina’s early buyout of contingent payments for $30 million from its acquisition of SomaLogic.

Revenue from continuing operations was $20.1 million in the quarter ended June 30, 2026, down 7.6% from a year earlier. That followed first-quarter 2026 revenue of $21.1 million, which had been up 5% year over year.

Consumables were $9.4 million, down 10% from a year earlier, after first-quarter consumables of $11.0 million, up 35%. The company said the second-quarter consumables decline compared against particularly strong prior-year results and continued U.S. academia spend uncertainty. Instruments were $5.1 million, down 2%, after a first-quarter instruments figure of $4.5 million, down 33%. Services, predominantly field services, were $5.6 million, down 8%.

Gross margin was 52.4%, versus 48.8% a year earlier; non-GAAP gross margin was 56.3%, versus 54.1%. The company said those margins were driven by productivity improvements and reduced warranty expense.

Operating expenses were $35.9 million, down 1% from $36.3 million a year earlier, and included $14.7 million in transaction costs and $2.8 million in restructuring and related charges. Non-GAAP operating expenses, which exclude transaction costs, stock-based compensation, and restructuring charges, were $13.8 million, down 50% from $27.9 million a year earlier. The company said the decrease was largely due to previously announced restructuring actions.

The operating loss was $25.4 million, versus $25.7 million a year earlier. Net loss from continuing operations was $21.5 million, versus $17.7 million a year earlier, a 21% widening the company said was impacted by one-time transaction costs. Adjusted EBITDA was a loss of $2.5 million, an 84% improvement from a $16.1 million loss a year earlier.

Cash, cash equivalents, restricted cash, and short-term and long-term investments were $541.1 million as of June 30, 2026, versus $227.9 million a year earlier.

Egholm said the team remains focused on serving customers while the transaction process continues, and that continued cost discipline drove the 84% year-over-year improvement in adjusted EBITDA. The company said it looks forward to updating stockholders as it progresses toward the vote and closing.

The company is withdrawing its full-year 2026 revenue outlook given the pending merger with Treeline Biosciences.