BLI - Earnings call transcript Q4 2021 | Bruker Cellular Analysis, Inc.

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Operator

Thank you for standing by and welcome to the Berkeley Lights Fourth Quarter 2021 Earnings Conference Call. [Operator Instructions].

As a reminder, today’s program maybe recorded. I would now like to introduce your host for today’s program, Carrie Mendivil, Investor Relations. Please go ahead.

Carrie Mendivil

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

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

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

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

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

Eric Hobbs

outlook and the across year call, turn Thanks, you, morning. progress today's joining XXXX. details full and over everyone, to I for call our the our the made continued on quarter will XXXX discuss us Carrie, On we fourth business. I provide then this for thank and will share to Kurt results

days that Lights, At to the mission, find mission growth consumables, $XX.X services have our bringing in achieve business, and above focus on and range to strong the value partnerships drivers understand To of be disease. revenue our access market platform During is innovative including our XXXX, recurring a of the the we revenue, opportunities to early developed to created our revenue In to can platform our and achieved problems scale. Lights, Underlying strategic cures we where the significant January. $XX.X at by applied live strategy, speed fourth improvement this will high unprecedented quarter million biology and solutions. and placements. were Berkeley our disrupt for continue Key early customers total providing advanced of we primary for platform to unlock direct XXXX revenue most was significant existing an Berkeley over million, value. sequential pre-announced solve biology

the As provides continued believe solution. our platform, are where we've the commercially we develop Berkeley advancing platform to opportunities only viable Lights we

these solutions than started expanded revenue from downstream significantly We transactions partnerships which economics, have business, for proprietary and levels royalties. participation. In strategic near-term $X.X longer future growing partnerships XXXX. participation in services and allowing in strategic to our term revenue Total opportunities, milestones, demand three-fold of as for with XXXX well million such to $XX XXXX, million grew included we of as XXXX, million XXXX, downstream experience increasing $XX.X as contract services value to and more $XXX,XXX in in revenue from in

will harmful of to including services illness. anti-microbial potential technology expression Aanika killing proprietary cell based functional top In use that our peptides royalty this was our contract demonstrated our downstream up of we announced Thermo ability to revenue. identify values other and on which capture million. we additional and through with our In screening with value that XXXX, key Crop high Science cause with $X During Scientific agreements QX and bacteria, was outbreaks includes capable those two two Biosciences to Fisher partnership pharmaceutical technology. partnerships One deeper Bayer signed Aanika optimize foodborne with throughput rapidly company, the a partnership, XXXX, functional, five free

foundry services, will to to chain. then create used our spore-based bacteria barcoding tag that important are toxic In be An into is is required partnerships will new to be partnership transition our and workflow a span to our this engagements, partnerships distributed our these additional XXXX, as peptides food leveraging to the then their serve which our partners years our technology build service rapidly customer capacity of and which the bio In R&D the grows. revenues. future typically develop completed can applied this at aspect supply multiple and business, Boston provide business these growing service recently start that of foundry. the services platform a find out across internal biology, to offering followed site, bio business. In highly to and growth foundry, of strategic capacity the bacterial long-term To bio to continue anti-bacterial business addition, by expect and problems. with accelerate In a of model, an we or we full will we the complex part engagements, are solve our campaign

for and by driven customers by enabled new increased workflows. opportunities cases use We our continue expansion existing to see

announced of Over the course several we developments with key three technology standouts. XXXX,

the length our cell test advancement full small to was that proteins the to function first basis desired expression for free particular to the the from our proprietary our leverage is The service. in of ability proteins express throughput the to against a or protein technology each of all We've and peptides specific enable primary it function of NanoPen, cell cells. variety types live way to technology high functional expressed have and antibodies kill their then bind screening This targets. to tested

The developing second a live terminal way to advancement assays significant any scalable was without biology. of perform loss

assays now a of a a of clonality of while NanoPen, allows the cells of NanoPen. clones customers, This such workflow recover ensuring to the of technology viable solutions viral our under clones. culturing is and It or terminal enabling cloning technology in terminally functional the the completed, subset of the This stable we currently analysis assays, or of terminally subset while class the of sub-population. differentiated us our live Once or a core poly the and to surviving precious editing, differentiate, the OEP development. live perform has viability been for that to line liaise whole even addition also as maintaining interrogation. in internal poly a components can is subset the vector we a In capture cells gene cell cells use cell can opens

The third cell was of characterization application our to killing apply the to T development in patient assay samples. or

automation. to Access studies primary most to PBMCs easily and leveraged are that estimate TCRs. capabilities by Our nanofluidics particular discover number be through With to be efficacy particular and not regarding were and progressions achieved cells At through can to goal biology. and have cannot previously new that technology There this huge from solution. therapeutic ensure develop our cell antigens can and in customers Berkeley of questions enabled a particular our humans types, continuing we primary deliver of access and thought biology disease the possible cultured the disease Lights are directly that capability, is a to come speed today. in and therapeutic customers advancements. committed Answered relevant workflow

across to ahead three growth into key XXXX, areas drive we As are focused business. we our on look

and economics to partnerships strategic downstream services differentiated enable to offerings. our our business growing First,

up high workflows value ramping workflows. in Second, release screening service third, functional to throughput market. high our antibody our continuing And therapeutics core

differentiated we designed antibody Lights and All to our which postponing memory opportunities. CapEx near-term. diversity we continue platform expand evaluate partnership customers cell serve will continue capital antibody Starting In models drive for XXXX. purchases, we We access rapid around memory eliminating as release see Further, are through continue the macroeconomic cell are of by therapeutics, we our will terms towards CapEx this This CDMOs we some the believe our and this access, We're in and the those sales, experiencing B the tech expand year better continue confident core accessing move plan new XXXX, in discovery, to development. to customers a In in is human CROs delays in to to workflows that or this a B conservative increased in with of customers and workflow. strategic services, into are and in cash capital antibody and large part in purchases. who environment shift current a driven conservation allocation. Platform. needs our cause pressure environment Berkeley and cell may antibodies we workflow demand including can on to line innovation deliver both discovery into will advance will market and

quality addition In continue find assays these will to also that to product. our new drive help highest the species, customers we

In partner, the XXXX, this targets. manufacturing multi-specific of quality to from level but reagent cell the with development, data to these are cell a we major perform to clonal success more find can we modalities, unwanted access additional development adding diverse collaboration selection. last provide kits at our we line of include during during leading treatments cells customer can produce will bi-specific, deeper we to costs will probability ability affinity antibody and and the against In year, presented incorporating additional antibodies variants, measure showing that sees also the increase manufacturing. the discovery the bi-specific how Late chip solutions, a cures of timelines challenging on release pharma being the and understand manufactured characterization of plan to of and customers workflow. and cells Additionally, our plan the turnkey In time process, edited so our by to will customers and bi-specifics understanding our further and understanding make the antibodies. cells challenges line rank

teams cell Turning therapies. the therapy, off completed our by internal control the accelerate to quality springboard will cell and great manufacturing we of opportunity in work to

of and up workflows Berkeley mechanisms vector with access Related agreement further or next of to onboarding gene to certain to we we biology, we cancers of therapy, Ginkgo cell tumor of additional will efforts the to Additionally, our as releasing quarters efforts. increase the Lights inhibitory deliver stable other anticipate our clone enable Thermo killing types, complex will selection part commercialization expect collaboration their couple synthetic production killing primary using additional the partners. the to viral Scientific understanding workflow over In continue to understanding Fisher by assay. wrap and which

of year, course capacity plan the high to throughput Over our beyond screening functional we accelerate the move ag-bio. also and

We see here flow expect XXXX. deal to in additional

Lights of Business. of be initiated will a progressing shared from I new Berkeley year, has well. President for Board is Antibody Directors at CEO CEO the that to of Therapeutics role The the we beginning as search this transitioning a As my

the team Kurt, something fusion vision for of and their to work to our like biology Before of again the at I'd call our reality. day what forefront continue is important. making possible profoundly hard We're and And we cutting-edge dedication towards technology. I the envelope every push the on thank to hand over through a

solve to complex thought As we that have Kurt? more over customers from now increasingly advanced the will were details the on platform's our previously problems I we them unsolvable. our turn hear for is capabilities, be financials. technology Kurt how to call to enabling

Kurt Wood

Thank $XX.X XX%, and at the you, XX% followed ended Eric. three for at of X% by up revenue the for million, year-over-year. America XX, XXXX in months APAC accounted was Regionally, December revenue North quarter, total EMEA X%. Total

at XXX platform including placements in a the quarter platforms. XXXX, Looking $X.X installed the stream, and an subscription access sales platform of results beacons, with direct totaled base fourth the in three-revenue quarter of quarter, the CapEx across six million. from five These one breakout tech ending revenue included

capacity new As campaign cell requirements. a line offering tailored the launched a we XXXX, development of QX to and subscription access discovery customers reminder, lower with antibody in annual tech

increases subscription prior approximately and in As EMEA. APAC increase services Recurring of revenue growth from revenue year and North services the customer $X.X These on primarily in purchases, of and to well first over five was placements mentioned quarter, of later fourth in up an our year, purchases activity fourth driven pharma million XX% quarter up increase XXXX. the million tech of and $X.X quarter. Crop signed the revenue driven in from $X.X recognized million Science with Bayer offering sequentially. warranty the was begin the year, XX% seen consumable The $X.X for quarter quarter million a seasonal the plan was agreement the Strategic normally newly in which as region revenue were last earlier. a customers by and includes of as subscription on the We prior the America XXXX, in by Eric that access sequentially. in partnership to end tech XX% and the the access consumable full related sequential the of initiatives fourth year-to-date top

These the in For contract like compared and with with bookings the we Science, full prior include value Bayer $XXX,XXX marquee well agreements a to as contract value Fisher year, Crop of the deal year as signed $XX period. our the total year. $X XXXX sign Gross players $XX.X revenue as approximately in in $XX to quarter. up Thermo Scientific $XX million, agreements the to fourth in sign is million in XXXX. Of quarter approximately million of during recognized million, prior for new compared fourth year, the million million was the $XX in profit

So for XX% fourth the the was XXXX. its XXXX in margin XX% of of quarter to compared quarter fourth

of compared million from and XX% the above quarter $X.X impact margin stock-based $X.X expenses target XX%. for and quarter quarter the R&D, marketing. approximately respectively. XXXX million $XX.X and loss period. Gingko, loss of gross the the numbers million $XX.X gross by inclusive of net loss in year, of are to driven $X.X G&A, were Excluding $XX.X million, All a in the our to prior fourth long-term million XXXX approximately year was compared The was in million $XX.X was for $X.X million, compensation $X.X margin and Fourth compensation. fourth prior operating of in Net stock-based sales included million increase for million

the XX% XX% up in total accounted APAC and Regionally, million the year-over-year. revenue America followed full XX%. of XX% for increased by year, revenues year, at for at Looking at to EMEA $XX.X XXXX total North

million, $XX from the margin XXXX million, $XXX.X of compared Strategic in increase gross million, of million were Gross $XX.X long-term million. the $XX.X the $XX.X to aligned for of than prior well was model. operating R&D, million Gingko margin $XX.X XXXX, direct G&A prior of loss $XX.X recurring increase expenses was year-over-year. in marketing. in compensation Net and to more three-fold of equivalent $XX.X million, $XX.X public was $XXX a were excluding was profit was million a full was XX% $XX.X million XX.X, million million and For with compared year. million $XX.X as sales for growing full year million. over revenue We loss an an which million year and $XX.X increase and $XX.X and XX% of is in transition comprising for $XX.X G&A million XXXX Total in company. sales increase was $XX.X ended increased due XXXX, sales including XXXX to we a marketing totaled XXXX. XXXX balance in in million $XX.X million our an in cash the $XX.X expenses million, partnerships from Gross year Stock-based revenue up million over services to cash year. XXXX. and operating and expenses $XX.X Operating to revenue R&D platform

Our liquidity debt includes a facility. revolving which million, is $XXX available

the with to Turning XXXX to outlook, grow few outlook be to to partnerships the we in collaborations XX% more the seasonality. beginning for approximately more heavily expect expect back typical year, we weighted shared coupled years, XXXX with a our of we Consistent Embedded and to this of business XXXX. assumptions. key development half at come revenue the year for as prior as compared our revenue online,

services expect to XXXX. of we rate similar than our areas faster at experienced and First, partnerships a what grow to strategic in business, we other

CROs Second, a CDMOs and we to driver. to growth continue expect be

Third, we in an APAC continue line therapeutics campaign Fourth, capacity expect with campaign. market to to XXXX for business. important see antibody be we as

for team to for over to Before it turn I like our their Eric's appreciation echo work. hard Q&A, would we continued

advanced how increasingly have is our hear platforms solvable. previously we them to from solve to the we be problems enabling As technology thought were Lights that customers Berkeley complex capability, our

customers, provide forward revolutionary now questions. look to that, to we help their up you will the for With advance our and discoveries. Operator? line to to open them technology If continuing

Operator

of the JPMorgan. from from line comes Julia Chen question first Our Instructions] [Operator Certainly.

Your question, please.

Julia Chen

organization. question. Thanks want morning. to the the start for good I Hi, on

You focus mentioned segment key alignment that business near-term [indiscernible]. drive is to the revenue

get you a be progress current stability? So could That'd And us morale maybe could color the and update? give you if great. team on some

Eric Hobbs

for morning. Great Julia. to thanks Yes, the hear this from you question,

had revenue workflows move value core we business in high and excited capabilities mentioned to release our downstream we continue team include to to our continue services our be to our XXXX, and key that in continued drivers therapeutics second as Kurt enable market. for couldn't more And ensuring our partnership antibiotic our markets. growth strategic into we As growing that, deliver the

continue bi-specific And be species space. therapeutics got teams cell the development assays. that deliverable, and interesting additional in not plus only to motivated to things, antibody we've Our affinity but the delivering in expansion development, an some very those we're line capabilities

move forward our motivated So to cures mission biology, be our find disease. helping to our continue team customers to the on that for continues

Julia Chen

you beginning tech specifically, there I a And it's when eight pre-announced front including in access. of the were the quarter that on Right. remember year, then placements. at of placements,

So maybe year? biotech additional been capital gap the are bridge funding on delays? us? given about you guys environment, related meaningful this And versus the for expecting in could note, then noise any the of you access tech there a Has change mix

Kurt Wood

Hey, in that ever this is gave I'll revenue don't we the how we specifically Julia, a many first think were year, said part, placements I Kurt, take just number.

So the the is of had said we this we first where of quarter into few beginning the of were and as the that fourth we the half placements six in quarter year. a the with shifted line recall, out year pre-announced. we And at you when for

the Eric still its fourth no of they're feel those We kind quarter. second a that. then, first I'll let there. going orders matter to address the about And that when, moved confident in it's change that So and It's there have when hit from question if the of not half.

Eric Hobbs

for you second question me, can please. the repeat Julia

Julia Chen

access change meaningful in Yes, you wondering, around a expecting light funding capital biotech the just year? this in noise of I tech versus, any mix guys was are environment,

Eric Hobbs

outlook. thing only in which not have million that $XX partnership That, cash happening mean, And into XXXX. value right is I services, business we to our market offerings of focus situation course, is now seeing, in that have But the services saw achieve X.X all the the gives to over we and strategic conservation, XXXX, potentially credence of also our market. We mentioned The really I gives access the to XXXX. XX that additional we of one triple of and backlog, in wonderful model, backlog XXXX/XXXX. from our of we which in signed we I course, contract a us strategic tech model, in but pillars about Yes. partnerships XXXX million we're million exceed think the think, and in result

Julia Chen

Got it. me. one from Last

you I last? could remarks the be cell You partners? or and the how that think said fair around revenue to commercialization XQ, How expect just which workflows wondering I Thermo associated stream to you for also in with the Thanks. do should stream you equal specific kickstart you're how -- deliver XQ they to milestones? are the plan pull believe prepared revenue expecting and up you. to we to think more about that development if subscription long wrap and said you other to through believe and additional will efforts about subscription So

Eric Hobbs

in is course, This regards, of Yes. vector to the viral workflow.

cell The continues quite it's yes, in workflow, we progressing and QX will Fisher be team Scientific. So to develop partnership Thermo to well. through the the delivering agreement lines QX and

participating into entertaining us. in that with market additional customers are We discussions

So, we services and will do with you materialize. keep our partnership those announcements updated as with that business strategic additional as

Kurt Wood

is, will they aspect before, that lasts embedded a contract higher priced about couple the access a talked delivery type back we a years. have years. multiple subscription. that significantly that Thermo, on the not it's payment tech subscription end workflow like that quarterly last to in on a Obviously, That's Julia, of

Operator

you. Thank

from line from Tejas Stanley. comes question next Savant of Our the Morgan

please. question Your

Tejas Savant

time good morning. guys, And thanks the for here. Hey,

that sort new on the Eric, application existing on five on the mix So about of some placement customers, give maybe color versus you, for on quarter, just and direct the you one there? talked us can you beacon color any of

Eric Hobbs

species in assay. business customers mix and of applications really antibody roadmap us also adding customers in antibody see to We therapeutics, in CRO with additional also X.X, driven the additional And additional continue to but XXXX. discovery by new affinity workflow the the and

business as think towards the talked move more and of us briefly partnership we we as for the forward, about move as see we continue I strategic we do services to the business rotation of future. before, into the

talked their we acquiring their QX had, about Genovac acquiring third As third GSK beacon, also we in and beacon.

pull customers, which who understanding customers and left without continue we the to from difficult to that find targets. have new we more but with they're existing So older antibodies great to to the see are hit technology, methods find getting more hard also are

Tejas Savant

the down three help conservatism saw talked that commentary quarter, Got little about things, little side guys you I it. of in you bit, on sort can on versus Eric customers you then of that a given one among of step subscription just of of on sort That's helpful. And a a subscription, bit XQ, think a purchases? or us CapEx your contextualize bit caution sort particularly a your of this

Eric Hobbs

first saw subscription the overall we we out be XXXX, was the good on of about year of In approximately going in that here. placements our our year. us felt XX% pretty business And

and forward, for move also business. them more or continues than that as work subscription. term likely which believe rather I conservation we the that being to see can, purchase we through we at subscription move will ROIs look will to right, is As said cash longer we customers equipment better Tejas, that the That of forward, do

offerings we'll them to for our to to both continue customers, is they would their best decide make, course, in do of let customers in business. But And for which financial support decision to regards provide be so, that them which we our the best for situation. their need

Kurt Wood

call, last can coming Hey, demand call If again, is we CDMOs. Kurt. increased in I about as about Tejas. see, also the in from CRO add talked just this one on and and there, This thing the you

the before, is we're Berkeley getting what that because Lights being would that used market be So share. and folks me going that are campaign higher would and usage that we at anticipate, we some in slightly said we we're as tell means have seen route, that which technology their than different campaign again,

Tejas Savant

follow mode thinking And a 'XX. And, how through up. mean to R&D you, of quick obviously, in cadence your talked I I Kurt well. ones couple for OpEx I that sort think of as your you've about conservation commercial it. investments year? on comment. about mean, cash this Got are doubling team you

Just and year. cadence the walk us the OpEx through what through your are for expectations

Kurt Wood

geopolitical grow of other obviously what going we invest. some Well, a going Obviously, with rate things are to give we don’t grow had non-recurring. some -- expense, first company, obviously, year but we OpEx cautious go that expect OpEx obviously, be some to XXXX. what are we being did the is will when what year a grow, Last prudent SOX, the like you we lower approximately expenses to uncertainty have in than at overnight, year, we're one guidance litigation on unfolded OpEx XX%. will up anticipating would general, remain at lower we rate at public that and that the revenue a in than what we it and about and obviously P&L And particularly said we're anticipating on our revenue

ensure here. to focus scales new in, with do like on we matter” has nicely need cash the and to prudent us to of what as So we when we there. of on as optionality scale company, there's that the amount But you going is comes pretty possible, continue be into much CEO one will and as what and to expect critical do we certain sure the mind as we some said thereafter, first I'm much continue to preserve infrastructure their give put place critical believe need Eric a what any and do possible that and be items it things “Hey, we

Tejas Savant

for supply disruptions volatility? to the chain? of just some your on Got you inventory up sort sort one perhaps, manufacturing what stock signs future components? of on seeing Are proofing you you're it. given of and I And of anything degree any then like are proactively to doing one and other mean, chips me final there

Eric Hobbs

impacting the the there. the nail disruptions on head not I of think are it's you hit that Obviously, semiconductor auto others, some particularly you us. supply microchip, to certainly shortages and see the immune and in

are semiconductors put tools have optics. that the We around into particularly our

secure chip and that and some around embedded that's a possible obviously in low-cost try gone have have components used, It's but chip. have to buying those items much chips cases, a critical we optionality as it's can We so and that in types those as flexibility. as of them, very much

much can on but So demand is supply have what believe -- enough or our least buying there, we as as we XXXX. we to demand obviously at enough meet through for

Tejas Savant

Got guys. Appreciate time. it. Thanks, Very helpful. the

Operator

you. Thank

Our from Weinstein of comes William Brian from line next the question Blair.

please. Your question

Brian Weinstein

are morning, the they're of taking on timing, much as transition, It's good you the focusing far on you for, can any is qualities Hey, How have am that what guys. if CEO kind for you? in Thanks the looking question. thoughts probably on I CEO. new say, not but also curious, as transition Board and the

Eric Hobbs

doing search, very question. for as candidates. January, the got, initiated the Brian. mean, us I of and at we the absolutely, and been has Yes, we now discussed, interesting Thanks that the the Right. we've Reynolds seeing Board for search beginning Russell

can't a we the is regular growth. next going drive, business course, throughout we around of for, right, disclose type to process, but strategy business, in that the characteristics our be the as experience Board think, proven of regards a to to having looking a of are and right, is I for level track where CEO the record with important

that's and person. as I year, but time I'm And know, that that's regards a we're we'll tomorrow, so is some person in in in it's that And, right, And there's a I confident at. so between said, find timing, for to diligently a And characteristics. looking Board and those with not there. large the where range, it's not

Brian Weinstein

kind able terms to between you see to categories? that Okay. on term in I XXX as term, think And that various XXXX? mix revenue able million guys to look XX% makeup think about give in playing or to Have then, of in XXX, what like so looks that that direction any revenue, how do the you better to guidance are us guys you in expect longer breakout Then, longer gets recurring growth, partnership, out? to that been the like you the of you direct you revenue refine

Kurt Wood

asking to saying to I partnership Obviously, would of script had when few a QX, the we at obviously for similar we the nuggets the accelerate grow XX%, We year, faster half at X.XX if year, thanks contracts million of Brian, did clip. and of last signed Hey, back we kind in gave last a the That to we you and new services we services the business business QX. that flattish that that million, expect should to revenue expect in question. expect strategic a X.X We're as then bit of up go for look saw we grow XXXX. million say was we what going approximately and partnership about year. in we to $XX year. and the little into be what in

case in as the in signed In addition BCS, be participation, we we or now to Aanika the milestones, royalty downstream start form additional their of that revenue that, some in in that part that of if of of with the deals signed upside we $X announced million and QX. them it's the have whether to saw

seeing good progress we're So there.

the this mid the being of be XX/XX think back pretty that's going split. more And year going but recurring it be we've predictable call end to that's you're to revenue in to loaded. to probably anticipate been that's we think XX% I of revenue. fallout I going as So well. then your And do looking at what be, well that and historically in is total direct it placements, XX%

Eric Hobbs

back be XX/XX the front in meetings, half, to just clear. in half, XX XX the

Kurt Wood

clarification. that for Thanks yes. Yes,

Operator

Thanks for.

question the BTIG. of comes next Our Massaro Mark from from line

please. question Your

Mark Massaro

eliminating X the are so questions Hey, outlook placements that. I guys, your you thanks for help I at for that XXXX. had placements I guess haven't haven't CapEx in of had that here. what think you heard purchases. that, know one on QX, of I And in recognizing or took of XX customers for your you the I me to in least is, any is how some expectation think year, capital the thing about the guess, your guided But XX. in commentary context postponing I heard for year. earlier

Eric Hobbs

Yes.

We haven't XX%. pegged the XXXX, we not on XX% were But Mark. we And at to the units particular we placements now front right And on XX, given the with the expect giving discussing and as -- number just back to grow. providing on guidance right, what end. approximately we're end are we've in the continue Brian, XX%

if not and we But than we've grow campaign. the rate. a have services do XXXX partnership see be our in in Although, that'll capacity higher at campaign to market mentioned, line we strategic faster

running when campaign that's therapeutic number for say antibodies. that reagent So the we both campaigns of and were capacity, antibodies

And So or we CROs conservation customers driver, CDMOs. and in CDMOs growth CROs access placements we're model into into continue cash direct demand to get as that that that a with well and continue we market. both that with see be feel even to those positioned the mode a creates really customers tech

and emerging believe market for access tech that us, XXXX an placements Pacific additional and in both Asia is as be our important is So expect market continue in And therapeutics antibody growing do in to to business. I direct an to that going placements. see,

Kurt Wood

of run and consumables. trend higher use higher one accessing through Mark, there, as for and of therefore utilization a we technology the demand them And CDMOs who customers, aggregate multiple obviously, customers, CROs the at are seeing the line much they

in seeing constrained that type are capital We environment. of particularly the

specific So that give throughout the giving like on we're Eric We'll said, the not year. guidance placements. unfold colors

Mark Massaro

that XX And XXXX? around of some us the mix how that? like left? think That's playing in some we just in I out walk helpful. backlog your value, XX through, clarity XX million of had mean, -- And the recognized it looks about that should then, contract can you you you total provide million

Kurt Wood

Yes.

continue said on If million you we're we from recall last -- partnerships new to of $XX significantly. that, of a about signed year. of quarter and we the significantly X fourth we the what backlog sign deals, including from entering with pretty this partnership XXXX, last the that's up into and -- that's kind call That's in is of firm the year, secured had services And we up starting that million nice prior point.

sign cetera. going XX and in year. that at out XX our and books can signed last say, is you the you aspect, of XXXX. of believe year partnership the XXXX. cadence again, I out as So on year, we'll to continue et should deals the materialized was deals for million from think revenue of obviously, million including the look be of as have within to the not total this the And we exact that services new XXXX the to then, mentioned, to into expect the revenue. But that about we're will XXXX, year that backlog, calendar recognized at giving the add we fiscal development, strategic I beginning what goes We business And XXXX, or

signed some so are in And revenue meaningful that deals that contribution XXXX. have XXXX in be will obviously, there

Mark Massaro

like about assume will, then reagent the Understood, some significant these enhancements, Can kits, okay. maybe new product these products, of just think value be you turnkey the to as maybe contribution opposed last we my question, new other And them to top-line? products? some the to should if sources and expand And of some on capital Eric, of you purchases, you about or talked new what, I like? the new assays, how

Eric Hobbs

Yes.

right. the overall with I think emerging the the in go to market in position we to we into player, and chasm new early the put context the that right ways as we're important it's crossed of still majority, as are

whether affinity with bispecific capabilities add kids the And so the and cell and it's in to antibody human, additional these new or assays development. rabbit assay, discovery we line as the species continue the and

for or our but platform. the to customers to only additional to enhance these customers on current lead experience of the not customers, us also All product move new things,

customers onto we the see currently platform are to continue platform we continue come things. increasing so, demand as And the to not from release virtualized who using to these

not pull into early as it's market. of reagent we majority markets, overall it's additional just move segment placements So that the increases through

Operator

question [Operator next Capital. comes Goparaju from Instructions] line Gaurav Berenberg you. of from the Thank Our

please. question Your

Gaurav Goparaju

call. morning. for Good guys, my taking thanks Hey,

earnings, guess QX I some you I And to Gingko it light to completed Was Just internally delivered that for on color Was them I workflows to So with that XXXX you're expected delay? get expecting remember, co-developed you know, here. be upcoming the externally to year? you more guys be just driven? there the mentioned in by wanted or that? wanted mentioned driven quarters? I slight more get some a had

Eric Hobbs

Thanks, finished course, Gaurav. It’s QX a great question. to and, We but them QX were Gingko needed we we always internally, deliver transfer them to targeting QX and Bioworks. in of to

very reliable to that sure customers work make and workflow and And those that can overall operate have our workflows continue overall they on functional their so in bio-foundry.

production. ramp on we'll with So to those, to make continue into sure that this delivering they track work and next quarter, those Gingko to

Gaurav Goparaju

QX, Got you it. that able from you Thanks. of then, or are to that you end second five disclose? wasn't the one mentioned that with from the Aanika, market that pharma disclose mentioned on the is partnership And that top

Eric Hobbs

about selling our in our discovery talk therapeutics to bring a to Happy with forward to development It additional move class looking market closer and the adding antibody as really that. forward that to is pharma, continue bridging we that antibody top workflow. capabilities customer

Gaurav Goparaju

-- you markets. to that signing right? partnership majority I look mostly these remember end to are enter use then new the into mentioned you're space, So open these antibody partnerships opportunities you in guys new for Because had basically

guys antibody market assume therapeutics through I to partnerships? these that you fair it's address So will guess, still,

Eric Hobbs

we we Pfizer, add we did by market that first signed we're than company. deals deal, development services one Amgen but in customers with other these which as to continued work the and followed company, new participating others, achieve we we deals absolutely. develop is business BMS, that the as a was or Oh, whether platform. Roche, And a mean, as days company or additional deals that in, several markets, early our and they started the out Lights strategic Berkeley already it's signed I do XXXX, deals capabilities, can achieve in the partnerships that a and in we capabilities XXXX, of help to results that's a that into ways new of

Gaurav Goparaju

then is just looking each year currently exponentially you to about subsequent of color. And trying idea one the of partnerships amount deals new for slight to XXXX, handle, just years of that into Should the expect for try increase the it can think year-to-year at Thanks or moving get up last of that effectively forward? more from to especially, capacity look to XXXX. we an flat how the me, step

Kurt Wood

it Then number they will in example, that to into a and tune talked doing a run kind One, of somewhat of bit moves a to are screens R&D then and subscribing of peaking we're foundry. they I get. enters we utilization kind generally can the of fixed always before, to of to these separate the for Well, you themes about a And set little development that. workflow, when or think start that. with of components fine think you how there's of a if BCS, bio into couple we release our more deals like capacities thing about workflow, like embedded development where the out the

I can in make we And make sure keep to ample, our year obviously, weeks. supply amount expect last there's signing into various strive you're of it's they activity then, development campaigns the other pretty run of screens, -- and all increase up goes embedded for environment, we facilities will few workflow still royalties. installed production we new and and to was get it bio So to like run the separate production, what get able terms tool. things to a then, your contract production able a developing within foundry beacon with ample technicians in when the The they can cetera, that that. bio you in -- on it that exhibited a question and and saw do And in want something to the to be we We like proteins to be generally in back-end then run chain, deals. And contract and for et continuing to obviously, the in sure time, we is $XX our accommodate have growth is that. us another over and lab think answer we a foundry, we through to million capacity that, our that, the to space the demand

we some we was that growth -- pace the a faster at were And approximate then, services are basically milestones. said than in what's partnership overall fast to of grow XX% doing, going and would grow a addition XX% company at rate to those, the clip that And strategic that the said

Operator

you. the Thank conclude your well program. today's gentlemen you and session as as Thank participation. for This does question-and-answer ladies

now disconnect. day. may Good You

Bruker Cellular Analysis (CELL) 24 Feb 222021 Q4 Earnings call transcript