BLI - Earnings call transcript Q3 2021 | Bruker Cellular Analysis, Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Berkeley Lights Third Quarter 2021 Earnings Call. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Carrie Mendivil, Investor Relations. Thank you. Please go ahead, madam.

Carrie Mendivil

you. Thank Lights for Berkeley September quarter financial XXXX. XX, released today, the results ended Earlier

not news distribution received you'd have you If this be an to to send like release added the please company's list, e-mail ir@berkeleylights.com. to if or

are Berkeley and Chief today Officer. Chief Wood, Hobbs, Lights me Executive Eric Joining Financial from Officer; Kurt

These risks begin, we during remind meaning call uncertainties are that to federal this results could within of management cause the material those that materially or Before you like statements securities that and events laws. anticipated. forward-looking and differ I'd statements will involve statements actual make from to

because or please conference information, This turn to only any November or revise projections like that, new Except call more is factors required information, of I'd contains update X, the discussed whether future accurate or risks, our financial events forward-looking refer For to intention Eric. uncertainties as and broadcast, and Lights call other over obligation live to With the Berkeley as by or information otherwise. filings. of XXXX. SEC the law, time-sensitive statements, in to any disclaims

Eric Hobbs

third in revenue the joining Thanks, We of record morning. everyone, during we preannounced of range quarter revenue at coming the Carrie, $XX.X for us XXXX, the delivered high million of and you, thank this end mid-October. in

cures outlook industry At going to same financial third to over of experience strong the details we significant XXXX. that business. on initiatives, provide I and it's results strategic continued biology The the Kurt progress our continues On will we call remainder I across turn and execute positioned time, across some our Our share are the to members discuss transformations. well to continue quarter our the for through team find globe the today's on are the making will growth. disease. to call, then

outsourcing business for main increasingly both CDMOs, seeing during R&D foreseeable outsource a manufacturing driver the to COVID-XX, was for This and accelerated to trend are growth was the expect which continue our by CROs, trend this We future. quarter. companies and we

approximately for revenue and expand As revenue. in access of XXXX the to by XX% this by X continues XXXX. XXX% need CRO CDMOs. grew than antibody than Berkeley the result, our driven in of increase a that the our biological from same levels X search of third in of species as primarily targets. global and in evidenced year-over-year is Platform in against more increased screened for to first as utilization came group repeat Demand technology CDMO are Revenue more compared purchases Capacity harder-to-hit diversity consumable cell months as and Lights twofold year-to-date to period therapeutics CROs of for customers a customer from discovery types adoption quarter and terms well

more to Our as in platform's even such comes when the it types to be and functional antibody and to continues critical. a customers ability the resolution channels significant ion high to cell-based classes, different see driver continue to opportunity more target biodiversity for GPCRs capability and differentiation as discovery. run expanding becomes with Access assays our hard-to-hit complex strong our cell

that Opto broadened development focused Discovery product we of on Antibody rollout X.X, the With access. are activities species

antibody as productive website. on in appreciated products, and customer more interrogation further Vanderbilt polyfunctional clone requires primary Our are highly complex early-access into the Translating cell the human includes access promising Opto and results, the lines to can multi-specifics, be customers This on it such increases ability Antibody Discovery also significant X.X increasingly but page selection. webinar our biodiversity, seeing is deeper to dramatically which cells. interrogate deeply

capability recent workflow continue the their the analyst is gene to success their by X in Assure antibodies recently capability. and Lights of that shared a Berkeley accelerate CROs under against an a in proven as unprecedented third In continue enabled also their of of percentage development total that to both upstream from significant downstream, development and in year-to-date at example time our revenue development Beacon panel. product weeks antibody offering. in GlaxoSmithKline in Antibody are to line just biopharma platform. part therapies cell cell scale this to value the a and and of Berkeley larger majority another the switched They in purchased the which Lights development emerging with QX, In few measured global to therapies Beacon integrating industry. line enables XX% this and Discovery a customer Other challenging in proposition their Lights' into third do speed. line revenues. technology. CDMO, growth targets a latest with and to and Berkeley discovery success platform example therapeutic antibody GSK manufacturing also cell to by line Beacon Beacon total non-antibody has becoming Opto of on trends moving product platform, therapeutic enabled the Cell which sales their their capabilities an invested their dedicated by pipeline quarter decision-making development with line grew Genovac dedicated platforms nearly development. They the with drive now industry-leading are frame value the using of days. adding quarter, is have we to to to chain yet third work just Our during discovery the to expansion deployment its them customers the of our see adding trend,

at pages webinar efficacy. our leveraging identify we centers he the of CAR-T cell can to to the modifications cell across sector. tool Development QA/QC progress Medical A therapy link the found CAR demonstrating of primary presented not Lights Anthony Berkley in integrated of to on clinical spotlight in in key into the persistence trend it website. our manufacturing can closed-loop products Lightning continues Wisconsin, to technology Dr. build strategy. how a development how efforts has nicely. development this that and translational growth core partner academic new development, markets and exist. from the be improve manufacturing solutions The others around We an growth Summit on therapy remains our customer deployment Recently, Zamora College by and industry the of aspect T-cell was like access did Expanding activities. Berkeley presence Lights have business continue our and driven to platforms driving XX to in-vivo of previously placed biology Globally,

the first from established compared revenue well to pipeline full $XX.X continues during X the found this to workflow placement may momentum platform per-unit We currently the the created contribution. months economics revenue engagement span year as over that either is share in downstream XXXX, This have Lights start activity and/or was to application arrangement years. into in million our by BioFoundry. a are gain we of transitioned R&D X year. This we basis. in economic subscription milestones partnerships models. In Berkley or capacity our customer capacity followed through Both partnership developed In the the model either Here, as developing be principal $X.X partners solutions model, in share where via access benefits offerings for multiple to new BioFoundry. is with an downstream can providing service is by of million offering on a both with

XXXX We revenue. expect partnerships revenue for in of to this services $XX projected exceed approximately from and million and XX% account year's

part million as approximately for and partnership build-out our has backlog current To XXXX. $XX will our of recently quarter. third of the to capacity rapidly we which XXXX enter Our growing completed at Boston this grown campaign we BioFoundry, business, additional end of service the provide the serve

the Kurt, team over towards hard vision again thank a I'd our Before work call reality. and hand to I to making for their dedication like our

something of envelope We push through are technology. continue what the day of and fusion we to every biology at the profoundly and possible important, the is on cutting-edge forefront

fields of essential is biology therapy, in as and some antibody many discovery, cell the becoming most important such platform more. Our synthetic

platform, thought hear be As our increasingly complex we of enabling were solve the customers to to from how we advanced them problems that technology our previously have our is unsolvable. capabilities

be there our many platform to this technology across and still to early segments. work are in integrate We journey market new is done

great I will ahead. demonstrated on we to have continuing quarter, we remain road our are over turn details Kurt call this we and more the make the progress, financials. to As now ever about than more Kurt? for excited

Kurt Wood

at of XX% the $XX.X service million XX% by Thank you, ended quarterly accounted revenues. This for coming the for million $XX.X increased APAC record and XX, $X.X Regionally, and months up year-over-year from million, sequentially. XX% set XXXX, XX% at quarter, followed in product for was and Revenues revenues from EMEA America revenue revenues Eric. a XX%. to North September X

versus platforms. direct revenue results platform access a installed streams. the X the an prior million, quarter XX% breakout of across strong and tech subscriptions at sales $XX.X from was with by platforms, X XX% year. CapEx X were the increasing and including platform driven ending placements, Looking Lightning Beacons, These X Revenue sequentially base XXX

reminder, discovery customers. new tech line we the As subscription quarter, and access specific last a launched cell smaller offering a of development antibody needs capacity tailored to

placements As of America of the customers approximately of are in September, tech to our year-to-date and end XX% EMEA. access North

an service revenue year from in launched was which We APAC do the to prior the driven access purchases. sequential in which subscriptions consumable last and quarter The revenue, tech primarily sequentially. $X.X over and related yet by consumable increase an warranty XX% and was million, of includes region, have purchases, to expect in not we Recurring XXXX. XX% increase growth

the necessarily recognized the different consumable used the strategies. when ultimately we consumable of consumable the deploy is the when purchase reminder, the a As timing not is is by and Therefore, system revenue customers of on purchased procurement reflective different customer.

some others consistently the as orders year. annual place make for purchases throughout usage, customers example, onetime needed while their purchase anticipated and For consumables

levels potential chain approximately million of Additionally, Joint XX% than date, million and Thermo Sciences. XXXX agreement Year-to-date, resulting prior industry-leading procurement million significant and $XX year Scientific QX, and to between and derisk million. more recognized in shutdowns, over disruptions purchase carry Fisher signed of lower To potential a $XX sequentially. $X.X with we from $X.X supply in from including designed period and some XXX% the Crop value inventory in contract partnership COVID QX. have course customers a participants, correlation have X strategies million $X backlog, these we the growing XXXX Together, higher usage. of segments revenue development in partnerships implemented the in was Bayer

margin was third the Gross QX the XXXX a buy-downs. anticipate third business our co-development. one we quarter of million total Gross ahead, as prior This XXXX the year Looking both in of absolute to impact workflow quarter our increased $XX.X profit impact dollars the of margin gross in and of activity XX% our third of was percentage of revenue, XX.X% impacted long-term in to $XX.X we due grow XXXX. objective to the by prior million Similar to margin. the period. for was workflows quarter of quarters, achieving as completion near the while in of stated development-driven maintaining XX.X% revenues compared for in in ramp gross a to cumulative Ginkgo compared

with by million were Excluding quarter quarter XX% announced G&A-related driven the stock-based of cash unused XX%. third ended of XXXX Net an compensation. of the we to the XXXX, $XX.X third operating third expenses R&D, for in and teams. All of XXXX. million cash last available and impact stock-based portion transition $XX of We loss $X.X stock-based a equivalent numbers company, which a loss to compared of from increase long-term development balance sales $XXX to approximately $X.X including revolving as and of target and was net our of a million, line million million, debt net quarter. $XX.X compensation XXXX inclusive public inclusive million $XXX included million of investment expenses business Ginkgo, of the Total compensation. gross for quarter in are third increase third million liquidity the were The our facility of loss in QX and with $X.X compensation $XX.X margins was for the million the compared for quarter of marketing of of stock-based approximately our quarter in

Turning outlook the remainder the of for to year. our

XXXX. guidance for low With stated represents the above open of Operator? approximately expect We or now over end in our rate lower revenue the previously million, a be at to XXs, to of up This growth we'll $XX questions. it range. XXXX that, XX%

Operator

Instructions]. [Operator

Your first Stanley. from question Savant Morgan comes Tejas of

Unidentified Analyst

This Tejas. is Edmund on for

guys at It wanted has you Just what successful. guidance direct to have script end like model been is you your of your instrument provided fairly before, ask the your about revenue. lower seems meaning

and in on you what terms actually, been traction your First forward? going are tracking on of how expectations can it's that, comment

Eric Hobbs

first the... I it of missed What Edmund. part that the question,

Unidentified Analyst

later. you of Yes. your guidance? it's tracking Well, going well that I how to according is like actually, model on can expectations. first, can subscription But the get just lower the It given comment end to your sounds

Eric Hobbs

we we one in think launched end XX% have additionally made We've at additional already one QX. accounts year. the placements so of QX. I Look, booked It the far of that for this

I So well as tracking think would expect. we that's

we're of relatively are making can time. on if a But it's there. tech campaign. period some we share be because which the pleased demand customer we're of good increased access on CDMO, for We seeing the us CRO you with and and in product a get there short in Either trade-off progress market that goes obviously the the case

Unidentified Analyst

forward, think XX Is is revenue of XX assumption? The looking Street a that off million estimating still of then XXXX. Beacon sales placements And -- around currently I direct reasonable $XX based Great. for around direct

Kurt Wood

Do you mean XXXX or XXXX?

Unidentified Analyst

XXXX. derived about Street off currently of $XX million revenue direct direct estimating XX placements. The in is about

Kurt Wood

us XXXX We'll call. give on guidance. to do Yes. a little early a future It's that for

our million we're I $XX which up already will booked for in on have think $XX Eric of recognized year, nicely. we business, next side has new be mentioned set now seeing development what the is million development team year. business this we're business

that rapidly future drive So additional that, then still the we'll we a year, base and spend that growing our nice of pretty area. grown in installed year. and business our installed We're next break But will this base, for year. consumable And has have next on out specifics our finalizing backlog call. plans

Unidentified Analyst

a what the then is it or when a wondering like either CDMO still through that's it. CRO, thinking are if for they're your us sign Beacon the very demand to walk help was at to customers already placed Got a leverage decision can making And you strong. going unit unit up sounds subscription CRO. I

Eric Hobbs

of that what's their want therapeutic to their our Yes, one. they're more importantly, work about purchasing probability to the many our success? get of by for enhanced biodiversity. decision, on a CDMOs They really customers this to with go CDMO, a happy about, And jump to make CRO, desire of the driven actually customers access reason in sure think thinking they tech is you are access CRO, whether Beacon, candidate. levels go or When a purchase right,

segment. support CDMOs. And is we into mentioned, the companies, discovery, and CROs forward look in CROs, decisions And that into they continue. so animal money CROs, trend go therapeutics. down as access continue Those their placements they we believe decision the the antibody to to biotechs each CDMOs access and where XXXX, one put outsourcing of CDMOs pharma to their different the going evaluated is And really to as right, Kurt into with to have placements models make, that we'll and to primary find their And making of they that on biodiversity.

Kurt ownership to the it's of to the in so majority intent capture the mentioned, field. campaigns as drive market also of in market the our capacity vast campaign share the And

Operator

Mark question of next comes Your BTIG. from Massaro

Unidentified Analyst

This is Mark. Vivian for on

the subscription subscription how should workflow looking of model? are also subscription about think how maybe utilization you some only placement and So Could since we workflows differs on model mix customers capital forward? discuss

Eric Hobbs

that Sure. to Kurt, terms of take would you one mix. like in

Kurt Wood

Yes.

I got to remember, business that of about. of talked terms mix, got in we've think model I legs think our X we've you

subscription. model You've direct the placements, got CapEx includes and the which the

which what Fishers of generated back is And unit Thermo that our the service or doing. are a world. we're screenings development the percentage Bayers through at the into are the performing then a what And asset that's of take the and third, you in that is the with and we behalf we're doing whether that's end BioFoundry the customer see got business, items, where a of typically, end, which we partnership on You've milestone falls line economics. the revenues

were be going value this exceed we've to revenue going forward, business year. this of relates increase. partnership absolute Eric the to that dollar total for of to you already XX% about already expect what and And it backlog as got talking year. that mix mentioned, It's will As we development the

$XX for So backlog that QX, of as ended already we've aspect. secured we in million got, XXXX

the the placed you short we booked guidance. another already we got As we model the to the specific think refer launched for more access this for term give tech tech split about I when in that in we X of But at I'll QX. again, access, defer XXXX quarter. we'll mix and X that late -- subscription subscription We've and for guidance actual mix think and

good the guidance on relates to that front, for So specifics on specifically year. talk that about future XXXX as a call you seeing demand we give but we're we'll when it

Unidentified Analyst

also Okay. with your this workflow development synbio and new how Awesome. And development funnel? Ginkgo you how on for on an later that that Can update progressing provide Does year? work track still you with your the workflow remain do well? as in Bayer impacting see is

Eric Hobbs

jump I'll was continue Ginkgo and And Barry. this we workflows at and move to on Ginkgo the and Med forward event great It delivering to last for to for and year. talk track in are Yes. work, this. with we Jason on be week

of again, developed and right, all the well. in very proteins workflow primary against the going of of is for continues quite ability biology. Bayer the to to NanoPens that's customers, and workflow, Absolutely, different aren't BioFoundry us from exciting track. in of take those terms on express test DNA And in forward our our In that's So to the regards we in be speaking the work. details moving

these part critically in are, enterprise we industry our building And high-value think we where as those opportunities. right, engage, of And BioFoundry to move the how so all are and We have we continue find not partnerships then we engage our to in development overall cell-based it's I with product we capability only way, forward. in term. leaders that's important value these also interesting strategy new And opening things I work but and of important a partnerships. markets, in that will long highlight a think the business for very

the of these platforms placements we is it's transition deals run these see deal. of a the workflow end, the offering termination It to just -- development our we service we run only into not at either leads BioFoundry. established or actually not As business where at -- the the a end customer we in the or

business so these model we downstream And downstream a economics, we either -- economic benefits are per-unit and in in share either development on can basis. partnerships, sharing share via and milestones

So gain we those I million to year anticipate is $XX development stated, revenue year continues million. this in which was Kurt momentum. in business backlog already And it's But important this next activities. what model to think highlight $XX for the

this and -- beyond is at the end the third it's So of quarter.

see So progress very there. nice

Kurt Wood

in Vivian, would we say just August, very it's still then, so Bayer jump early just I And the on. signed in obviously, that to deal --

think was earlier year to announced The boundaries other great the Thermo in what push vector we continue viral manufacturing, good make and the I technology. around is making we and one of progress that is progress the Fisher stable Scientific

Operator

of from JPMorgan. Julia the question line next Your Qin comes of

Ruizhi Qin

customers many mix for of expect had of placement up now is that customers, So of starting customers your nearly do repeat couple with which the is placement, you system obviously to that I'm have forward? to a years, great earlier repeat curious, see. to instrument going tick of your XQ half

Eric Hobbs

Kurt. ahead, Go

Kurt Wood

Eric. ahead, ahead. Go Go

Eric Hobbs

exactly see run our we've continue get Well, that years, mean, technology Julia, the -- was platform their say get with it, I that and to the trend been businesses, familiar it, just over and expand. going this seeing value to in they customers the is the I

the customers quarter, to antibody this did And development And see were first line press bought third complete into to X Genovac releases notable the GlaxoSmithKline, which same integrate workflow. discovery to it's great and their continue which GSK, also buy. a both is thing. so There our cell CRO from Beacon,

point development pharma Now to the that companies clinic a by so, happening do antibody there's be discovery But overall reason dramatically cell the line they cell these going discovery who X have to brought in are parallel. And is time the to both significant in that line an development companies discovery into directly characterization key activities with cell joining antibody accelerated from existing integrated can and functional other on important development. the antibody sense line workflow.

think is, it's we value important our to And is to to projected So be going was, course, this that I customers discussions, segments. market. But each our was market chain going and be to our happen said of our excited in the Berkley first mission of and Lights entire the This about the that antibody what of was kind IPO be in important we notice happening. continue across that's across going as But chain. integrate course, first therapeutics. the value was seeing further of happening integration to

Kurt Wood

about CRO and And as that thing saw play look business. new an deeper I the things space. and when we we collaborations customers. that's Julia, with repeat the a this as and the is example we Berkeley QX, But a also about learn to is that the of I more and we of continue, of more that business we mix continues that would bit tools. in earlier business to do certainly Beacon, with customers quarter. they mix development well. then there's in other we little at year as start the see can business they the capacity customers, buy more dependent then do that of more And think we a talking We what those nice upon expect they'll note Lights, that Their saw had need grow, If CDMO

business business placements you'll those well. driven of customers, the by some in driven deeper well as business on mix some I by continuing cases, of a So the as with side ongoing usage, see partnerships, as think tool and development consumable services

Operator

Blair. The from Brian next Weinstein comes of William question

Brian Weinstein

with of bit, in you're more but maybe the what cycle new specific and to not more I only kind this for more what kind the looks process sales kind working the just the CRO, a little funnel your but a little you've partners, get transitioning was accounts around of like So general on of and as looks you're space. what CDMO jumped traditional like bit as to hoping on

that how funnel does sales Just look and what cycle, now how that right like it maybe does looked versus historically?

Eric Hobbs

Yes, from good jump to thanks in. the yes. hear I'll you, Brian, question. for and

continue to we close capacity add talk As continue be right, they customers, stay CRO, to and CDMO our -- with limitations.

And so by those market, discussions, This overall general been customers? accelerated back to of see way the course, anytime that increase. and see they returning And COVID of the We go been other will in to as serve and soon. question add their trend don't it that to happening, outsourcing is, we it's how their do capacity the continue. has something

say, with deal close dramatically Berkeley platform we it's time the can't very In or future? customers has the on economically Brian, stay the How I contact work think previous just X X about ways. not great are interest accelerated the business business a is would at we the time pipeline to in has other our the be team months, with so right? And And development same. continue Lights overall build continuing able that the lines, to do customers I our our just customers, they're so in to enable do those really time and easily to with for, discussions. the and that workflows have possible done our demand regards development What as job do done how see lines to do we and things though, desk business development today? to activities, we just continued things lines,

it's our overall for in think backlog leading very And so next that see to nice I very growth pipeline a to encouraging year.

Kurt Wood

Brian, a that then, existing I break just had new to think to bit down little you that and add customers. between And that, to

oftentimes orders new an So X over if we've have give of for just get in. sales shorter. an for of that the users goes platform last to them cycle the quarters, additional has name, X When that's that XX you much tools. customer experience a example, placed with customer Obviously, the there's existing kind placed already you to Lights top the feasibility study new new our of tools, that Berkeley is a

the process before, deal a they're And development we're little pipeline doing. that than we've prove And they getting to then bit X second works about proving that between then us with the have that. longer the their been for they're it's on them or of we on the of test bit part that. to came the time that of the a take people, accomplish sales envisioning part do what the are technology there. working cycle Bayer of But fruition in others kind And And of the traction hear The studies. the Like but talked And the on they can took Thermo about and running -- and biology, and dependent reference time that with was talked deal. a that we biology. the the little time complexity initially business deal, pipeline on times feasibility the will that in of Eric mentioning, varies that the depending we just of we X X months. one good And with. X for the a a that CapEx, process the company. or within commitment side. longer. than done can tool of skeptical where of and we've work then checks, As is the funding through lower a upon access within is and we again, be their always lot technology the getting financial unique what that whether do customer and on month going process CapEx access CapEx the generally between bit tech the little portion Tech see sooner differs is the And timing takes

Brian Weinstein

Understood.

and quickly transitioning geographic kind there. to just of So breakdown mix

U.S. kind the unique You not market. are you're of just focused on guys given overly

talking about trends this curious how just at various point? some I'm the in different you're that about, that So trends of in areas prevalent you're outside are And they geographies the are the seeing U.S. what

Eric Hobbs

the right, we in the we as Pacific of mean, growth -- level in APAC. High Asia discovery I as in grow absolutely. interest region last mentioned to continues antibody calls, in earnings Yes, X high. the

Pacific, to job I in there our a Yue we as Asia execute doing of fantastic think head continue China. that building is the not just It's in just team Geng region.

happening in also Singapore of Korea lots have in We Japan, area. placements discussions in and

a think Berkeley GSK Gareth to on. the is I in integration I the up. bringing very region and in development. there for doing is focus is important significant us at And across of to job continue overall line full And that antibody really Lights think also EMEA, a placement region great cell to discovery leading the So terms platform Jones of

So demand see globally, particular, our whether of Pacific high levels from to continues Asia demand we customers, or high CDMOs. antibody pharma in discovery. customers of CROs, to And in levels region it's drive continue the

Operator

Next Dan the line Stifel. of Arias question comes of from

Unidentified Analyst

Dan. This for Evan on is the phone

to a Sorry subject. coming of up with wondering, process that first that But or conversations That's I'm just out -- sales is that's ago, came wondering customers? I'm guess, in months bring just the a question. my little impacting, the And that's report bit all? just sore if up of couple impacting a actually I if at

Eric Hobbs

report and technology. take a and report quarter Many have repeat relationships in terms fact, it's has we some important have bright matter customers being lies in we But published. report our think speechless created to the Lights. blatant strong broad note, of claims the in of side, to left Berkeley provide further of cemented with have short on purchases I relatively support one. had customers. multiple post the the Happy continue offered statements to Yes. to the our the in mean, our towards the the this I as against false And jump that

So we forward. been very the response move in customer positive has general, as

the a think, not seen in So dramatic general, we I have short impact report. from Scorpion

Unidentified Analyst

Got anything as though I with it. new mean, customers, from technology? that the aren't familiar

Eric Hobbs

Yes.

community not For It's any discussions welcome those existing out. who more is with do people reach have a broadly do community. new discussions. they It's customers. customer small a than a And question based our and to have has

with capabilities existing achieving support who So continue our reach product. regards our freely to out new to to what customers in customers they're provide our

on our impact an had overall hasn't it pipeline. -- a not it's So

Unidentified Analyst

you Follow-up obviously, and be business, sales? or -- and having sounds to, -- your extent you this has to highlighted customers like model, service customers they an But up? evolving competing it And good sensed CDMO yes, guess, I sort I related within mean, you Have you're been brought some mean, impacting also, might That's from that you've CDMOs. this CRO -- hear. question have with you're sales them. have this to -- business CROs of your your any I

Eric Hobbs

Yes.

CDMO -- in the to therapeutic our customers do are customers, In antibody and space, executing So line the clear, antibody CDMO in our compete not with workflows. just space. discovery CRO, therapeutic cell right, be development CRO, the antibody so we antibody customers our

where new biology, and like cell lines on market on are in vectors focused development, or new is stable creating synthetic markets business for Bayer. service These viral markets. different Our we're Thermo working spaces new working completely Ag-bio with with

where new we versus markets no, there conflict so existing And to markets business develop offer we product. sell is no services the between

as -- different market going segments, platform there. we've to such So so market? what a engage in no such this to into, antibody it Ag-bio we therapeutics? as conflicts be business, a Or going And as what is business for the decided them decided we we're is as be going delineate go to had service we placement

Unidentified Analyst

that And service have scripted business. I related in the one I follow-up Got to you. guess more

million the and for $XX the next highlighted funnel year. Bayer Is -- including You Thermo or that for just?

Kurt Wood

Ginkgo. and Thermo Bayer, That's

Operator

of next Cowen. from the question Brennan Your comes Dan of line

Daniel Brennan

good guidance. on a the in Just question QX. maybe here to start off, quarter just Really

that You benefits of full to bit QX revenues you end. the little a down narrowed kind year? to leading for the in the take timing-related Was there the lower are guide any

Kurt Wood

expect in be business. to think that we of at bit what is end calls on little the lower range said we with it No, were doing a what prior we're the we I as successful

the really at here there. nothing doing where million more we're tool, So $X.X is It's that range level each $X selling million. still that you're of we're to

material a moving of and have quarter So can impact. one in timing out a

more saying in what range that we're So narrow there. that's

Daniel Brennan

of whether kind impact Got just that the have from also COVID impacting on the platforms? And wondering in issues are or the guys -- at it. all did recurring, all Delta to Great. usage with that ability of customer at make any QX, influence just impact what kind of supply Any platform your you all the chain own reported?

Kurt Wood

Go ahead, Eric.

Eric Hobbs

Yes.

go one to of the go the run Berkeley so able And the of platform First in many and benefits tool on is the high the our the customers remotely. in button, customer Lights then of right, and come levels of plate the automation, tool, home the one are well use, right? customers lab, hit place our the

major no so issues And there.

were other CRO, commercial and are academic unlike heavily who CDMO. think on companies, reliant and leveraging commercial operate that space. in area -- so heavily entities the We I we with

this market the CROs CMOs continue crank So space. to through share they as and in time the gain

as Anything and to time, quite to disruption of positive although for with challenges we today. business us. to to -- I overall chain we change regard the driver this So actually haven't chains through at And seen could any our a customers, and at been supply the delivery COVID. supply Kurt? chains it's supply globally, move services are mean, a fragile COVID goods add, In

Kurt Wood

No, it. you got I think

Daniel Brennan

And just mind. more a ones, don't great. quick Great, you if few maybe

cell and about going think of there? but question how do So color earlier your to there was Does the going like it's for that therapy, we a gene stay wondering, just sales I today. forward opportunity Just that that on funnel, forward? it I'm mix revenues looks about any you.? know X/X how

Eric Hobbs

modalities in positioned. in way, to the of therapies, Lights greatest for accelerate our a scalable manufacturing when throughput cell very primary cell and by And see these therapies provide deployment accessing integrating, high and new We it opportunity well. therapeutic question require really in will mix gene as really understanding a and overall look, the we But market. Berkeley modalities sees into the therapies. else regards the grow dramatically require biology second. take characterization QA/QC -- is a it Kurt we believe in cell with to to well capabilities let because new These integrate continue therapeutic industry we and I'll platform, everybody

time, Now promise. that there's but great believe I take will do

into future, some add the As positioned. the Berkeley to I don't of increases very regards in well anything biology want if you of mix questions? Kurt, know, the is Lights to complexity

Kurt Wood

No, you I think it. got

you is and we're we'll those about in applicable segments. see At now. remarks, seeing technology Eric his it's prepared players short term, the to those and have what to in key many great play continue adjust. and to different ready mix I market relationships each and the we're of we of said obviously, with of got thing least consistent, in think, our all markets, that evaluate partnerships and as The the in being

Ag-bio Fisher us So use we're to therapy expand some poised Thermo markets months. the I next XX expand we then And additional in here then like did and obviously gene see you'll with with business we Bayer. and development into think the in

Daniel Brennan

one. then one maybe And Great. last

So in of the antibodies, whatnot. your mentioned antibody platform more enables and bispecific discovery how and you utility cell complex line development, fragments

how platform is customer antibodies? for full-length traditional Just versus the having much using progress the these

Eric Hobbs

this with see to this Yes. We of with our whereby we're able published had It on at was the customers, our one and fraction. relevant development. line and conferences, cell is some -- biospecific great understand side of project quarter done results the the with a one

NanoPen. the find that a want, partial see is majority of development making inside line of of the big fractions the you lines, able in you bispecifics challenges to to want. that ensure that for antibodies cell the not we're of you cell are bispecific which a that One And

is and multiple targets, Lights. you So we the the fractions again, can what different run We assays to assays. this this we manufactured antibodies against antigen unique by of that run relative are tell being multiple thing. Berkeley And

releasing there. excited about So new a our capability customers and that lot making of quite this we're are progress

report complex not platform. that filed or truth actually customers in at run the the these platform. That progress be Berkeley So think in be on are that that complex was misnomer these new mischaracterization antibodies fact the Berkeley further a to there from are Lights was able great -- Lights the antibodies can I from our the overall making

Operator

comes of And Knight Paul from of your question KeyBanc. final the line

Paul Knight

the are I On this the been a ordering? others. market to has academic relative know side, that what developing they

they are you doing there what and buying? are So what

Eric Hobbs

Yes.

at that different have So as our drive how manufacturing and the prepared and was therapeutic globally the the CAR-T provided institutions. Dr. efficacy. and we the he overview determining what the in-vivo And at in one TCR of to in placements Platform XX mechanisms CAR-T, an T-cell these T-cell interesting saw from quarter, doing biology talk that we very he's Lightning of can identify improve on Zamora, Anthony I academic now remarks, his he's Summit, things by specific responses. we using which think mentioned right, modification clinical persistence last how features And

interrogating body. of that challenging, real space our primary And biology interested so outside live alive customers are of of a the in the live is long interrogation What interest from to cells really that we the stay see really sense having the academic biology. access in humans the an is don't

to platform platform questions interrogate like these our changing. enables the can customers means to with And a answer many velocity the Lights so prior a things they that cells Berkeley expiring or

we And Immunology. with Institute that of so also with La in Jolla did seen Vanderbilt, work is this

is cells. for to I future been platform quite there. a have this interrogate promising additional on answer Lights any In case, so papers Berkeley And And published the used questions. human think being it's where to these happy us

Paul Knight

Is subscription to buying say script the it and model? new existing customers to are fair that customers platforms going are

Eric Hobbs

There's customers buy continue had access existing to we subscription. tech of launch certainly [indiscernible], right? place buy customers the that mix CapEx, and -- see, we as who orders customers into the new continue a even to moving both We some some -- CapEx CapEx to

likely move In with CapEx. face the our still learning to forward. budget, have better think them. budget go technology about for they it's seen as tech to customers our have go customers they customers where again, we to challenges, And we're run, access. they how interface and So look, want long If they I

this any these a -- there's a this these case, think at way uptake mix continued see Lights clear great But to of this time. I in technology. clear rule it's don't So customers the see Berkeley customers way we that go and no go both, of

Paul Knight

academics subscription it to vary? does are lastly, And or Okay. the go tending

Eric Hobbs

subscription, with platforms have and also there. see We with again, placed do We CapEx. various

of access. size, the don't, for go tech for have if And people they significant go when they So grants purchase. they the

Operator

gentlemen, participating. conference for Ladies you Thank this and call. concludes today's

disconnect. may You now

Carrie Mendivil	Gilmartin Group
Eric Hobbs	CEO & Director
Kurt Wood	CFO & CAO
Ruizhi Qin	JPMorgan Chase & Co.
Brian Weinstein	William Blair & Company
Daniel Brennan	Cowen and Company
Paul Knight	KeyBanc Capital Markets

Bruker Cellular Analysis (CELL) 4 Nov 212021 Q3 Earnings call transcript