FLDM - Earnings call transcript Q1 2018

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Operator

Good day, ladies and gentlemen, and welcome to the Fluidigm First Quarter 2018 Financial Results. [Operator Instructions].

As a reminder, this conference is being recorded. I would like to introduce your host for today's conference, Ms. Ana Petrovic. begin. may you Ma'am,

Ana Petrovic

first afternoon, Conference to of Call. released for today, Good XX, Quarter the Fluidigm XXXX Fluidigm the results financial Earnings At the ended everyone. you. March the XXXX. Welcome First market quarter Thank the close

call, from our results our we President be Linthwaite, Fluidigm recent today commentary and strategic our and review trends Officer. Officer; Financial our Jog, market will Chief activity, and will and Chief business this provide on During commercial initiatives. Vikram Executive Presenting Chris

may statements by The obligation available statements ended other this for these other be as growth, and the XXXX, future to the year growth materially orders, statements SEC. XXXX operating make quarter pipeline substantial market including growth that results any and differ Fluidigm prospects actual regarding and Information XXXX, the with forward-looking business, are for During - business for contained in cytometry year-over-year including and of may not in from are projected include is and results circumstances session, law. forward-looking information our on and results. statements risks these subsequent results on statements to disclaims forward-looking XX-K revenues current occurred, call report events and second Q&A risks that our to XX, trends timing we cytometry, and These about based plans anticipated December yet uncertainties and and sales required Form statements for forward-looking our anticipated affecting financial our financial expectations. subject and will or cause information of uncertainties us, and in opportunities. to projections the Examples call and other except mass the events update business on future and these in have currently annual filings of our mass

well a used results only will company's between as a non-GAAP encourage these non-GAAP turn our can the be and information we carefully results between understanding are non-GAAP as the which of in in should over not the GAAP an our to accompanying release, will CEO. information Chris, and present reported basis. Non-GAAP supplement our now section presentations. some as set our our also is on supplemental Investors U.S. call be website. I prepared under President to GAAP financial to consider results information reconciliation you presented under of a and under table Reconciliations GAAP. We comprehensive earnings found the During operating of call, rules accounting the operating and

Stephen Linthwaite

new these you, a and This her for Ana, - call. and program you on speak Agnes. our mid-market good Life life our call Agnes is pleased first communications for as as to medical welcome us past Relations Investor a well, background We're her devices team. sciences, role She's molecular I'd us XXXX our and Welcome, has know new to leading and with Fluidigm. Agnes on at mid- four at the and investor she I Vikram and health Investor here for for years. including great thank everyone, to today. very the finance team. taking quarter is Ana's Relations ResMed finance and afternoon, earnings companies large-cap I in quarterly for and last diagnostics, like joining Thank care leader Lee or Technologies. thank

today's business. Now on

several Initiatives is markets, time strong the accomplishments great expanded have morning, cytometry progress growth. this in an recent year of applications. The and more genomics that over at cash fruit we continuing us satisfying health future. operational a exciting take made management. place the in product our the is press in goal release What to closer This built for efficiency steps quarter, discipline financial and in the mass most quarters and are larger our the past partnerships, insights empowering take put care technologies true detailed As of innovation, of in and are foundation to Fluidigm. for with research bearing to users better increased we a translational partner becoming

call review in X% remarks We $XX.X of million, markets begin taking for and Vikram, results then first over will Total you was overview $XX.X quarter CFO, XXXX. and $XX.X of the for a our quarter of on before turn some and closing steps more X% to strategy, and an financial our offering today. fourth quarter like million then update detailed quarter discuss financial from million of the I'd those the I'll from first decrease with of in the a questions. revenue XXXX, for the to

was Our systems quarter well range. service. for period. genomics the instruments, up increased EPX genomics and growth Total consumables in our increased strong and Consumables over year-over-year XX% first increased revenue results service. guidance growth revenue prior year in included BioMark XX%. exceeded as in consumables with Pull-through and as revenue our XX% Service revenue

posted number of quarter, consumables cytometry very we orders a double-digit mass mass small instrument While cytometry growth the were in delayed.

Cytometry driven like about in which from of leverage Revenue and a fulfillment overall note mass margin. deliveries, last I'd backlog We of QX cytometry's operating the we The a increased was XXXX quarter months were Mass for improvements few the instrument call a Mass XXXX. for in in recently XXXX line performance. orders our year-end reflect benefited see results our spike in three exceeded during ago. at a by months. those from first and our expect quarter Imaging guidance, expectations and things the cytometry to to pull-through just with gross coming fulfilled record set which in

Imaging Cytometry early-adopting Specifically, we XX enabled customers with first-in-class modules. Mass

drivers. strong, research. of growth the fundamental increasing of about extremely translational business customer in reflecting cytometry and Our mass the pipeline optimistic and the interest cytometry the is technology We're adoption health mass

the mass cytometry single cytometry for revenue a European pull-through in million mark exceeded exceeded mentioned $X first time. the to customers consumables the record that earlier, and that quarter growth consumables addition for I mass In guidance

the immune-mediated to Maxpar Kit, immune Maxpar in monitoring in Human early a launched first further response we was cancer makes been workflow translational in designed comprehensive mass kit panel expect QX. forward use Customer the and Panel This cytometry in The kind, profiling diseases. for growth significant profiling. Looking our support is enables Helios It The step cell of Monitoring Immune its space. immune has new the with strong. research forward, proven system. high-parameter immune a

that customers One of the evidence brightest our cytometry is installed is of demand from base rising mass becoming signals capacity-constrained.

the in their exceeds systems cytometry of as mass capacity. work acquiring new increasing interested volume large-volume from hearing are We current customers

to For fact almost told full example, backlog that at an X cytometry That are operating me with customer to they a I met studies XX/X. recently week studies particular is mass customer due XX of capacity. who running the of

expectations these unwavering in our this the we reasons, all of For are business. of for growth

turn a of Let's our revenue to discussion regions. performance geographic in

bright ago Year-over-year Pacific was more spot were period. powered for quarter where Asia growth. Asia first the in increased than year up revenue XX% region in China. Pacific China, in a the was from Leading by XX% revenues Japan performance the again and strong

to that XX% in in more up with partnership significant were were growth. European quarter. Year-over-year XX% the both and Europe. the a first was than consumables revenue Our quarter Ascendas contributor revenues in service Genomics up

order we and genomics the last cytometry mass - growth a impact While side that on driver Ag-Bio positive were a from was mentioned significant or quarter, a services in Europe. there service significant restocking consumables

declined the agreement We U.S. Europe. cytometry mass are XX% from XXXX. increase of quarter service in an Revenue in also seeing in multiyear, the first multi-system

overall. XXXX in was given We expected headwinds headed Imaging but not spike the Americas in it QX instrument direction year-over-year the sales. we is Cytometry Mass the comparison like flawless, execution

now our reestablished. results full The but Americas We of balance is feels competitive. access XXXX are to confident market commercial is that the of funding healthy, improved for capability

We market a interesting institutions, discussion leading development Ag-Bio Now consumables and instruments most companies cytometry research our our Mass to market clinical is story. of academic perhaps in and market and progress pharma to laboratories worldwide. development.

market multiple abundantly at researchers' community our work Mass value business. two and of have are to unique amplifies events. this recent grow was nurturing tactics customers, products' base thought-leading cytometry this identifying engaged highly funding a We pursuing and a sources become evident Expanding of researchers coverage, proposition.

fields preterm Mass methods the with Association leaders researchers phenotyping immunology included and analysis Summit highlighted XXX immune the technologies. neurology. Prague Annual of participants, in many top week of discussion Meeting in last applications, more insights cancer and PhDs in to Customers pathologists had showcase and cytometry top American and technology which ranging Cytometry than Chicago, the and researchers, posters drew immunotherapy MD, researchers cancer XX and Our Cancer in for data mass a presentations Cytometry. findings, the studies including using in Various seventh At prospects birth in Fluidigm's the to Mass Annual areas thought attendance, immunotherapy. the from questions latest Research scientific of Imaging transitional

working are support to the who mass of this growing researchers cytometry. actively network of communicate promise We

continues NCI-designated of within cancer funnel centers. sales on network based to from Our U.S. demand the the widen -

or be can XX associated instruments of Our translational found in their institutions. centers these research

placements. centers target across success multiple also We expanding We've comparable Europe. had presence with our system considerable

at example, cytometry mass active cancer single we instruments fixed a have compressive For center.

growing with published studies - on two their We upgrading upgraded based newer being journals. the are published number Peer-reviewed, as the their are NCI NCI mass In quarter, and within prestigious see the the centers cancer in in research as researchers they instruments system in first cytometry also most with significance, cytometry technology. center mass well systems.

launched studies since proud the is the on the in We work. support enabled by of imaging. overall of two others more of XXX Research of Mass Imaging large mass of believe than We based first increasingly publications beginning works. new on are are an increase Already, is Hyperion the in research. research future excited XXXX, in technology of and tissue and imaging the we've an our There cytometry, this of the of seen XX% System, the portion five months XXXX, becoming body Cytometry to body year. are Imaging based October

need It biomarkers risk cells identified they were and tissues analyze higher a were recur Cell more prior early cytometry blood power perhaps response to types using published identify of a most able Potential treatment. more The only researchers ovarian In to knowledge used diagnosed cell possible high-parameter the may at whether and biomarkers help across through after studies deep, tissue. rapid, tumors, a these identify involvement. is treatment Stanford-led conducted was mass associated next-generation or a of in greater XX the before demonstrates children a Stanford study approach frequency treatment. correlates insights sustained analysis will and acute could cells that certain research cytometry cells diagnosed that high-parameter patients to paper new predictive after be treatment positive lymphoblastic the cytometry prognosis. cancer the were exciting used when and cancer the and gather of tumor-infiltrating from in Singapore, peripheral determined diagnose study of analysis signal relapse to unique leukocytes, patients. and to identify March, offer cytometry technique Nature different others recent XXX,XXX aggressive of newly radioembolization required. newly technique responders relapse. In with those performed another treatment, for than to that response Some Reports, researchers these drug common landscapes built and This of of sequencing that to immune In This Medicine in multi-omic clinical cells in technology develop with thread the mass leukemia mass and in a potential therapy. to with model of mass could is

value for are unique our now results. leader technology We call and offers to in a a further of believe turn we our proposition. our a CFO, over review the this Vikram, space, financial I'll

Vikram Jog

$XX.X declined and revenue the grew revenue million instruments, in third quarter. XX% from X drove rates year-over-year the Higher Total for market growth. X% consecutive in the year-over-year. exchange year-over-year foreign XXXX, consumables and percentage sequentially first Chris, good afternoon, revenue Favorable Thanks, and of the points applied to change revenue contributed QX comprising XX% service, about sequentially year-over-year everyone. Genomics grew the in quarter. revenue, Consumables quarter. customers

annual pull-through In pull-through our the and consecutive quarter. addition, for the of BioMark significantly EPX exceeded guidance second end high

guidance $XX,XXX $XX,XXX, we in XXXX prior BioMark the consumables for $XX,XXX As $XX,XXX pull-through from a annual and reminder, year. increased to our to to EPX range

genomics to Before I with note we variations would anticipate sales to our in some like of purchasing high-throughput cytometry, we mass customers. of turn that line in quarterly patterns

revenue, of one our or translates the example, service, comprising purchased high For driven Mass instruments, customers multiples first declined lower in our the by million over million average quarter, of consumables instrument pull-through. pull-through consumables revenue. $X cytometry XX% several annual quarter, to in $X.X in which and

early-adopting Imaging year-over-year growth XXXX, pull-through Mass of in and enabled recall, above Consumables first end Cytometry customers XX QX may modules. and and solid revenue consumables we you the the sequential high As quarter, our guidance. delivered tracked service with XXXX in

raised quarter, in recall we guidance range to pull-through $XX,XXX last to our mass that $XX,XXX, annual You'll to cytometry from XXXX. $XX,XXX $XX,XXX consumables

to Asia cytometry across quarter, Juno currency and XX% perspective, Europe. our driven in of XX%, respectively, from over pull-through quarter, out revenue XX%, projected recorded quarter, genomics genomics. first lower CX pull-through from Favorable year-over-year products. in revenue revenue and increased the in XX% below Array our regional the by Importantly, instruments, points mass in from increased year-over-year, within genomics. revenue Europe consumables and by and cytometry Revenue service year-over-year in China we and we sales XXXX. Japan expect growth slightly due growth Rounding the revenues percentage range. single-cell rates mass grew pull-through a contributed mainly States, while mass our tracked the in United to in primarily revenue the From driven cytometry Pacific In projected X and declined growth range, XX% Access year-over-year performance tracked from and foreign

expenses. to Turning

in for financial year-over-year, our continue million In excludes amortization basis to quarter. million expenses expenses basis basis and or XX% XX% sequentially, compensation product compared XXX ongoing was for initiatives million also extent, points expense. due while lower points a of and benefit to $X.X the to production a the XXX investing Non-GAAP for Operating operational of the year-over-year expenses early developed first in in was expanded the cost reflecting and period million range to year-over-year below our offset ago quarter control first to margin guidance depreciation revenue. stock-based million points XXX unit product the sequentially. $XX.X due to year-over-year $X amortization implemented a XX.X% growth quarter $XX.X The in fixed or of margin GAAP and for the amortization of operating on to margins year-over-year for the $XX.X lower and non-GAAP last in and on quarter, was efficiency million product effects GAAP year-over-year initiatives for in XXXX. first loss and primarily million, QX. of XXXX. discipline the product strategic and, Non-GAAP in $X.X R&D GAAP up the on lower We in up first expenses, first net sequentially quarter and partially $X to $X.X improve increases XX.X% declined quarter QX execute expenses sequential coming period lesser higher the and the year up quarter. technology, non-GAAP volumes, The SG&A our $XX.X points decreased product decreased from up basis initiatives. was lower was year-over-year basis costs million instruments genomics product and million compared and loss $XX.X to same in million, both margins first net year over by margin consumables XX basis and

and GAAP reminder, between expenses. an QX a a that earnings litigation we SG&A settlement our provided at earlier Reconciliation tables favorable $X of are release to non-GAAP our net included as end As offset issued the loss recorded today. million press XXXX measures

our yearly a our of price the by is the $X the the at including slower $XXX,XXX DSO the of reduced than including litigation outstanding. of which $XX.X on which is collections. at million in the X, initial were a the QX new of $XX.X over notes. The flow We anticipated principal This approximately million conversion value quarter initial million of $XX.XX from trigger $XX an notes put XX-day a timing features, initial investments XXXX. was million, date conversion with in original sheet. in collected receipt Moving interest compared end original end of equivalents annual in XXXX, issuer exchanged notes option, convertible were compares million, $X.X of end the to XXXX, convertible first the the of of fourth conversion payments $X increased cash of in incentive million. period. XX end short-term cash of compared to conversion we conversion notes. XXXX, a X, of the notes the of million Total for at quarter, quarter value Accounts later by for may principal the a approximately stock and receivable increased approximately our put payment quarter February $X.XX, million balance leaving cash million if compensation for now XXXX, new QX. and and Collections were settlement. In $XX in at with XX% $X.XX, April. any days million the price first original QX first unsecured compared new the initial $XX.X with days inflow approximately $X February notes of to compared date the the and million and for driven with unsecured notes first March including half is XX $XXX Cash, to And out price conversion premium XXXX, trades XX the cash of under outflow $XX.X at days notes quarter new to

carrying debt the our million. for from convertible $XXX to million the of total result value a was $XXX reduced As exchange,

premium and holder cost put noncash February incur and and unchanged, quarter the is expense expense through three X.XX% in XXXX in accretion cash discount year. the estimated accretion approximately quarters annual Such date amortization per to amortization of will debt be first While XXXX. million $X.X issuance coupon remaining for of rate the is we noncash the

notes, terms Form the on refer on detail new to the our XX-K additional terms. For please of the

the to foreign Total the million expense of million related exchange. million. $X.X are projected and million million operating to I to operating to Moving million to for $XX compensation the quarter offering and including the be on includes of second $X.X closing Non-GAAP GAAP $X between million, that, which a X.X% $XX be expenses and $XX.X be and of favorable call $XX.X $X of projected projected expenses $XX million million, range. now stock-based of debt between XXXX. will approximately to million. exchange projected be revenue excluding $X guidance remarks. approximately outflow midpoint the Chris to of are approximately is at is for Total million, amortization depreciation impact convertible back to to cash turn And cost $XX with

Stephen Linthwaite

Thanks, Vikram.

Before President delighted mass will us In systems and also target panel. fueled In about reagents. span We'll on closing, in our like to that across we genomics across our call, quarter's in on demand service. cytometry, critical execute accounts. leads have we set signals He and sciences successfully current Kreger strategy centers proteomics is manufacturing, multiple basis. the would comparable Fisher at and and on business, to instruments, capacity. this another The this and from consumables our to a cancer new Thermo need in pharma. the welcome we key see He some comes organization, as tools performance growth see high-value placements immune and increasing a and Mass build XXXX. navigated life great conclude from in Scientific. instruments record to content veteran In Brad of U.S. we're global cytometry high-throughput Vice our most and of strategic will the Fluidigm drivers. an talented continue our In thoughts of brings in to I undeniable, see health us growth further Europe want in industry regulated our Operations. about Brad increasing you as leave mass that the will acquire we with to Fluidigm. mass volume monitoring few goals which be pull-through We as is I are both Global emphasizing Senior translational of execution nonregulated optimistic in role extremely business environments. of and market and us the to has successful join XXXX, chain customer Brad team. research, guidance. as by supply genomics, our cytometry now new a experience interest and demand exceeded planning customer which of adoption NCI-designated exceeds makes fundamental customers the segments, work QX Large-volume well cytometry member centers

questions. the our the personally of Fluidigm. adoption strong, pipeline future balance in growth the With the have a to over of transform in systems translational for the bodes which looks of year created company health care is working tools technology to open research. We focused XXX line The pipeline to I strategically like indispensable become produced employees thank Our has XXXX. increasing one well decision-making. reflecting that would for future. for foundation more stronger, Strength we to is in who and the that been over that, past I'd believe instruments like our

Operator

Instructions]. our from first line comes of [Operator Doug Cowen. the Schenkel And from question

Doug Schenkel

just affected the as by Normalized by lot comparison you the year-over-year. the the year. orders start geography. this where quickly of Hyperion that, for of last growth was first is declined, fulfilling was in to early revenue I a want believe, Presumably, quarter most impact about discussing performance expected? U.S. XX% by U.S. by of I

Stephen Linthwaite

here, - Chris and Vikram obviously. got I Doug,

think first correct. So off, I is generally thesis your

the one think addition the I cytometry, another part? to feel we single-cell bolus in There's a second mass period. headwind significant for had the was - us, for or that prior Do and the headwind other placements in you genomics. instrument

Doug Schenkel

Okay, yes.

Stephen Linthwaite

I So anticipated. we as think exactly Americas performed the otherwise,

Doug Schenkel

in And excluding great. other guess geography was the Europe question FX? - growth ask. What only then another I That's Okay. I'll

Vikram Jog

X%.

Doug Schenkel

okay. X%,

dynamics around three and that around the triangulate five last quarters. quarter. Based the believe on your I that rate think depressed we model based been assume it can that in to in we run on run and the your expectations, can a placements going you've placement mass placements Now this number model? pivoting I didn't timing you're to XX our into to levels of commentary, cytometry in then first in is catch-up quarter, rate QX that happen reasonable to return commentary to and on QX add just

Stephen Linthwaite

placement I but thinking your we correct. instrument generally think think individual I you general is numbers, know don't comment on

I think you - belief that in we're think me. data. mean, in from heard I a can we - our I the see unwavering we're

pipeline Our us. the been we just bigger. feel never going has year good is probably this about way really And for to play out

with I reinforcing our message overall We're Keep capacity. capacity funnel relatively already cycle, not so that think first you additional worldwide. that, ASP this wavering have big same you can in you for weaker our of as and who significant the in in placements; the call. constraints just pleased know, periodicity Americas. multi-systems placements, high the business by heard by margins instrument quarter one really seeing instrument quarters, with need large of it's typically have no It's commitment. on and users - that I'm is the

We funnel have broadening healthy really also our base. that's customer a

to is So how the placements course optimistic we really we're to play specific couldn't about instrument quarter. from of really, comment I think the year on really out. going quarter

Doug Schenkel

just case. that the updates. were I sounds figure understand, or out that's timing you Chris, from here, in answer, is mean, to helpful. based it there your like recognize I just trying asked not, should QX. want only some that's trend at I the to assume a reason comment Yes, dynamics and we We're a on to and if whether - And return, more least

Stephen Linthwaite

out should I time. perspective the Yes. out fact the we range one I from I mean, should increasing of over range of get that on this trading mean, the break think I'm demand also. bullish us

Vikram Jog

think QX it might add color to be some helpful in add just to the - perspective. some terms additional I to just performance of

year take we've on or standpoint. we units of than You're guidance, X account given of each were mean, I of QX of then from our expected placement takes albeit the an of we the the have and pipeline gave we the forecast - had provide that that's progression for of of evaluate backdrop the our that of those the we pipeline into into rest increasing our opportunities. And X And confidence the - the for for conviction level progression own that our we of opportunities. and rest and of when funding lower the instrument the our also stage and confidence based always year. internal really account the behind talking funding stage confidence guidance about expressed that, and expression the the of of in maybe each

Doug Schenkel

maybe got one Vikram. for just last it, one And helpful. super you, Okay, quick

similar cytometry just that's It You commented on the BioMark, from orders make mass similar want I in to EPX dynamic box there sound sure. order bulk pull-through mass - or any believe cytometry? Was bulk consumable dynamic quarter. benefiting I like well, - doesn't any I the order it case. the per for bulk was there guess that's question. Was

Vikram Jog

No, no.

We not quarter. have experienced this in that

Operator

And from from Piper Jaffray. Quirk question our comes the line Bill next of

William Quirk

to And to Agnes, luck Ana. good with you nice Certainly, again. be be it will working

the numbers you we much - again, guess any have trying I'm to was but back other bulk rate indication use et to do should words, as come cetera? do they - up? order kind sense choppy you get of thinking there to a just expect that any around some of what is back used question consumables, have like Might as to how First any you just from is that sense genomics, going it - to I of the in was? guys sounds In as

Stephen Linthwaite

of Let me give a bit color. little

think I beyond alone. customer one it's

it's one multi-quarter just stock. have things order, and of we at large. called actually, - looking was We out it safety it multiple, large customers to customer inventory That buffer who's build - and the that the in a them was period. We've of probing, the for came significantly keep some one

always from to real-time their evident us. so consumption not month month And is to

or consumables. it's of pleased the clear start and of to underlying of we're period levels bit in or replacing down continue in they'll other multi-quarter little period. And stock from uncertainty because the what stocking that safety very [indiscernible] So business, it. reagents bullish they're new a outside time in to periods the I - is so over low knowledge, just not And and on put of buffer around kind orders of now we expansion, a we customers double-digit those then they'll the mean, or in why a growth which continue been orders. they of or that best - the a quarter exactly to And putting mix is mix. in - have to in increase too. to our technology increase exactly row how they their pull putting down, growth consumables be sequential That's But going with genomics progress. our we've very second the the they're asterisk therefore has demand

So on part ago. came we a strategy our quarters of when was I this six stated ago, quarters - first five

as we're look drive going order so genomics this as to the demand quarter. underlying to prior we just in of much And stocking business discussed the large that

William Quirk

range the guess this is related closing about then was have orders would color, helpful XQ, gave but months you to the - it otherwise struck it for your of think maybe said. I for than - just thinking some me broader that's coming about little Chris. that thought. first, revenue question I here cytometry Chris, you comments in Okay, a and maybe And some I given as what the guidance mass

I assuming little So would maybe any appreciate a timing, here. but additional feel us just it's I'm color. give

Vikram Jog

$X are range? amplitude, to you the Bill, million referring So the

William Quirk

correct, that's Yes, correct. that's Vikram. Yes,

Vikram Jog

is the I even that last around, the of Hyperion the year, slipping a that started time. at one really reflects think, quarter. system end we and launched QX that it high-ASP we All takes week So around instrument it

part on doesn't and on just caution single few a that respect dilute minutes some instrument we're to ago the the give strength a reflects the but in a confidence just our it or I even any expressed just slipping. So ourselves of trying break, just room pipeline,

William Quirk

sort I them, certainly call couple then We by Okay, has unnoticed. success a going of would not of enough, announcements dynamic last cytometry a kind couple gone your derivative of, is question. competitive within kind of bigger noticed, of picture, mass conferences, some of one fair Vikram. seen We've competitors. And almost a back your that

dynamic. Chris, how on or And you're competitive effect? of this about to seeing on effects curious, any so time I'm you that of the thinking - anything Are deal just kind

Stephen Linthwaite

glad the I'm asked question. Bill, you

for I of I validates regard be to this suspension time the is we're on period of this how just think, side. big side looking imaging just just some beginning. I think with we've off, the proteomics first been going thing. of to about And side, think imaging see to But everything or it a me, beginning is underlying the saying based beginning this to beginning now on solution analysis - at tissue the the and the multiparameter - tissue side, power -

opportunity we it's think people the see. great other I see having that we're that

unique proposition overall a some it's strength market that And of think our I value and the validating to multiyear the us And I that market to is frame with think effect deploy. in our the strong perspective right we world very that we're and is over unique. come time market. the going

matching like software multiparameter Immune of a us. for is think Immune we that Maxpar Human Monitoring we that's upon of us XX broaden or sizes doing data XX. capabilities kind north on a its XXs that incumbent market be think it'd will a and We've seen help adding from what now we're panel the or of XX highly us. things up interpret the set. to better, Panel, to pushing help just even that Monitoring we're Human or - great, And solution new which complex, and consumables - you've prepackaged that's prepackaged XX. moved addressable with from the getting We're And we headroom purpose-built so the keep first this think into Panel And

that's as think moving are And And forward. so others interested market, the the going in we're validate just we to interest.

As as more choices out, astutely diligence an decision think you only that will might the did do that on it's pointed people fair that come their into could market to impact be have the I cycle. speculating. I say

Operator

further like no Petrovic to the to showing this at Ana over questions. time, turn I'm any call for remarks. closing I'd And back

Ana Petrovic

attending replay of the available close of on website. everyone. and quarter for to call, our second to thank of of afternoon, this following we will next the look like section call. update Good This forward XXXX. concludes the We'd call the everyone A the our be Investors

Operator

have participation your for This you day. today's great conclude all and Everyone, thank gentlemen, may a and in disconnect. does you Ladies conference. program, the

Ana Petrovic	Director, Corporate Development and IR
Stephen Linthwaite	President, CEO & Director
Vikram Jog	CFO & Principal Accounting Officer
Doug Schenkel	Cowen and Company
William Quirk	Piper Jaffray Companies

Standard BioTools (LAB) 3 May 182018 Q1 Earnings call transcript