Tue, May 13, 10:08 AM (41 days ago)
**Akoya Biosciences, Inc. (AKYA) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $16.6 million, down 9% YoY from $18.3 million. - **Gross Profit:** $9.9 million, up 18% YoY. - **Gross Margin:** 59%, up from 46% YoY. - **Net Loss:** $15.7 million, improved from $23.5 million YoY. - **Cash Flow:** Positive $8.6 million, improved from -$70.1 million YoY. **Key Metrics:** - **Product Revenue:** $12.0 million, down 1% YoY. - **Service & Other Revenue:** $4.6 million, down 26% YoY. - **Instrument Placements:** 29, down from 30 YoY. **Operational Trends:** - **Revenue Mix:** Product revenue (72%), Service & Other (28%). - **Cost of Goods Sold:** $6.8 million, down 32% YoY. - **Operating Expenses:** $23.3 million, down 22% YoY. - **R&D Expenses:** $5.6 million, flat YoY. - **SG&A Expenses:** $17.6 million, down 11% YoY. **Cash Flow Analysis:** - **Operating Cash Flow:** -$7.2 million, improved from -$20.8 million YoY. - **Investing Cash Flow:** +$16.0 million, improved from -$48.8 million YoY. - **Financing Cash Flow:** -$0.3 million, slightly improved from -$0.4 million YoY. **Liquidity & Debt:** - **Cash & Equivalents:** $27.5 million. - **Debt:** $76.5 million, with a 11.24% interest rate. - **Midcap Trust Term Loan:** Amended, with waivers and covenant changes. **Future Outlook:** - **Merger with Quanterix:** Pending, with uncertainties. - **Financial Covenants:** At risk if merger fails. - **Growth Strategy:** Focus on instrument placements, recurring revenue, and cost management. **Risks & Uncertainties:** - **Merger Risks:** Failure to complete may impact financial covenants. - **Market Risks:** Changes in trade policies, regulatory environment. - **Operational Risks:** Dependence on key customers, suppliers, and intellectual property. **Future Operations Impact:** - **Growth:** Dependent on successful merger, product launches, and market adoption. - **Cost Management:** Essential for achieving cash flow positivity. - **Funding:** May require additional equity or debt financing. **Conclusion:** Akoya Biosciences showed improved financial health in Q1 2025, with better cash flow and reduced losses. However, the company faces significant uncertainties, particularly around the pending merger with Quanterix. Successful execution of the merger and continued operational improvements will be crucial for Akoya's future growth and financial stability.