| o | Combined-unit PhenoCycler-Fusion installed base of 159 as of June 30, 2023, compared to 55 in the prior year period. |
| ● | As of June 30, 2023, there were 988 total publications featuring Akoya’s platforms, 60% growth from 618 total publications in the prior year period; achieved milestone publication volume of 1,000 in July. |
| ● | Launched the Fusion 2.0 and HT field upgrades with rolling launch of PhenoCode Panels |
| ● | Adjusted organizational structure to support portfolio prioritization and streamlined cost structure to achieve objective of reaching cash flow breakeven. |
YTD 2023 Financial and Business Highlights
| ● | Total revenue was $44.9 million YTD as of June 30, 2023, compared to $34.8 million in the prior year period; an increase of 29%. |
| ● | Product revenue was $32.7 million YTD as of June 30, 2023, compared to $27.5 million in the prior year period; an increase of 19%. |
| ● | Services and other revenue totaled $12.3 million YTD as of June 30, 2023, compared to $7.3 million in the prior year period; an increase of 68%. |
| ● | Gross profit was $24.4 million YTD as of June 30, 2023, compared to $20.4 million in the prior year period and gross profit margin was 54.3% YTD as of June 30, 2023, compared to 58.7% in the prior year period. |
| ● | 130 instruments were sold YTD as of June 30, 2023; 46 PhenoCyclers, 84 PhenoImagers, compared to 111 instruments sold in the prior year period; an increase of 17%. |
2023 Financial Outlook
The Company, based on its current plans and initiatives, continues to expect full year 2023 revenue in the range of $95-98 million.
Webcast and Conference Call Details
Akoya will host a conference call today, August 7, 2023, at 5:00 p.m. Eastern Time to discuss its second quarter 2023 financial results. Investors interested in listening to the conference call are required to register online. A live webcast of the conference call will be available on the “Investors” section of the Company's website at https://investors.akoyabio.com/. The webcast will be archived on the website following the completion of the call for three months.
Forward-Looking Statements
This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including expectations regarding our ability to market and sell our PhenoCycler and PhenoImager platforms and our other products and services, our ability to increase awareness of spatial biology technology, our ability to execute on our plans and expectations, our research and development efforts and other matters regarding our business strategies, future performance, use of capital, results of operations and financial position and plans and objectives for future operations.
In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and
