AKYA - Earnings call transcript Q2 2021

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Operator

Good day and thank you for standing by. Welcome to Akoya Biosciences Second Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker, David Deuchler.

David Deuchler

everyone. afternoon, Good participating for conference call. Thank in you today's

second have the Chief Executive Chief of from the for Financial A is XX, we company's call Akoya, Brian website. the results Officer; financial on Earlier press Akoya McKelligon, ended copy today, June XXXX. On Officer. released quarter available and the release Joe Driscoll,

which XXXX. statements Litigation Before are expressed future call that events, the federal this or call during forward-looking statements will implied of differ make a we begin, statements the statements. the relate of to I'd pursuant Private performance in of or like include may made to predictions forward-looking within in forward-looking of are Safe the or statements remind Any to factors. results securities of meaning Actual due contained laws, those you Reform that to management provisions the that variety from this Harbor Act Securities results expectations materially

with of any will description over and statements the future XXXX. law any disclaims We Securities be statements, Factors is to or Commission of as by Brian. because turn Form new factors considered of you with section only not or filed Akoya For revise Risk call should these information or a April the and as aware accurate you I And XX, This to today, events or performance. financial S-X be and on contains the broadcast the only August call and information of forward-looking the consider update with otherwise. future list of XX, time-sensitive uncertainties Akoya's conference and obligation, these whether that, please to are to live projections risks urge required and intention except our refer business, that XXXX. associated estimates Exchange should a guarantee

Brian McKelligon

prepared remarks with XXXX afternoon, very our discuss second Joe questions. take I and Akoya's morning. with I'm and April. IPO quarter second results this everyone, This you then thank the excited reporting David, performance company, a following and quarter you, will you earnings call. as marks good we'll public start Thank in time and to for joining second our

to our we Company financial Spatial to of The of our compared continued and and mission XXXX. $XX.X in to to work our detail During the platforms the of be results, quarter second is new biomarkers, sciences' strong deliver our way. improve last revolutionary of shortly. least We're class reagent customers to on better of review with XX% pleased Akoya of and the financial empowering disease plan revenue back researchers performance towards We to are revenue outcomes. using growth patient indicating This second quarter quarter, the growth understand Biology work a ahead spatially dried million significant Joe on total quarter at helping of clinicians had representing XX% will call. a life strong of our report reported provided delivering expectations in

the map prior types discussed at biology whole samples of distribution solutions and tissue resolution. to we cell enable in the across spatial researchers biomarkers As call, cell single

competitive to the industry's discovery discovery ultra-high in complete clinic simultaneously discovery new any spatial that already of understanding cells impacting sample the largest the Phenoptics established detection tissue research. tissue we intend leverage. than happening way automated is context. their tissue contract companies leading the Akoya Akoya organizations. it, platform and solution that life to in specifically, multiplexing under measurement and to begin of we tissue making CODEX single-cell industry. and today market cellular the destroy the This translational across and sciences unique fully XXX platform a dynamics between platforms of makes accessible true with is biopharmaceutical key it are today market analyzing sample, CODEX instruments underlying customers' technologies installed platform the biology and The is powerful is What's and It clinical cost-effective biology deeper flow that Akoya's one biomarkers. to spatial microscopes, like market, sequencing, biology, platform market. $XXX,XXX biology with and tissue Most underlying science our patient and from in within while across map impact eventually their the spatial advantage analysis and the truly biology and has to the this Akoya's keeps much and interactions enabling goal and While Spatial output the next structure biomarkers the biology able academic technologies analysis about in care. enabling computable is sample research all more and spatial cytometry at tissue to the biology evolution preserving institutions, the detailed next-generation existing installed entire Price and integrate the an of intact, researchers. base of most continuum, the is at our a for end-to-end spatial is

are is Our the higher. research at order sample markets to CODEX, downstream where Phenoptics and throughput platform designed serving sit of translational of clinical requirements magnitude

and the patient end-to-end With Akoya for biology and opportunity is CODEX also just to alone biology uniquely more platform routinely discovery, and XX research Phenoptics and or throughput capture using clinical performing samples our spatial day. Phenoptics, fully to marketplace, trial complete revolutionize, the this not for positioned are Phenoptics spatial care. automated example, spatial analysis solution. delivering full For in stands is ultimately per unparalleled on market clinical a studies customers and translational but

installed commercial of rapidly strong on-market publication success our established solutions, rate. are We base, the performance by accelerating growing financial and encouraged continued

organization and enabled discussed commercial full and our improved customers. deliver internally our workflow spatial with Following spatial future the to capabilities technology solutions, CODEX the new in biology build including expanded biology These by our IPO suites market. new in Akoya prior position investment the and leadership solutions the significant the will ongoing and investments In across expansion and our investments call, making leveraging by These as near, will on we're research and new rapid leaders. maintain partnering and on by spatial and include of industry developing improvements products and and biology academic groundbreaking Phenoptics for new thought existing and be development.

It most between improvements, network. enable further analysis Our multiplexing The visualization also analysis Andor. application and continuum focus the a These drive CrestOptics adoption our biology highlight microscopes. robust accessible for advancements, enablers tuned. recently expanded as activities powerful CODEX. partnerships are data so we'll result enables integration single-cell These platform platform advancement placements powerful partner's products to on R&D solutions. ongoing important will our To whole market, companies, applications called that be team's advance access delivering announced please throughput, workflow and recently of is and on technical announced and growing also and we of with of leading partnerships co-promotional the continued imaging CODEX new spatial and utilization CODEX the begin pull-through. reagent some ZEISS, Nikon, a of of continue expansion drive partners these including the iSquare microscopy stay to and expanded and system network, In increased to and coming market months, flight innovators

keeping drive spatial and innovation is on iSquare network edge application with Akoya CODEX the to thought of solutions. academic leaders the us on partnering biology development With leading new

So, translational clinical now efforts. and our let's to pivot research

path is the on Phenoptics of true to discussed, clinical on platform, meeting we use. biology standards of As spatial research the studies translation only capable the high clinical

core this include the requirements is true These the requirements considering trials. following. Now particularly support clinical when to

study. must was demonstrated tissue and capable XX on the the ImmunoTherapy also resolution our deliver growing meet Marlborough that the publication Phenoptics in evidence lab leading clinical First, the reproducibility fundamental. slide. our biopharmaceutical Phenoptics facility. our growing serving In Johns second, delivers the clinical throughput, of and Solutions Single-cell have Cancer, the robustness; eventual clinical across translational high MITRE of on trial focused third, and the whole sample platform This publications platform a and samples we result that announced This QX, with Anderson released of that It and Research high-performance concluded Phenoptics publication and Institute; highlights must fully throughput in these Squibb. accelerating clinical standards these day; D be resolution slide automated, Hopkins This per publication peer the that robustness Hurley to Journal Yale; a must last throughput body A the in of platform launch is platform only is single-cell Advanced and called for and the and platform partnership companies. entire the team across resolution analyzing central service trial entire of can requirements. of a month is for our seminal our an market, meets with platform of Child's use. analytical out the success Bristol-Myers Biopharma markets. partnerships University, the are is needed robustness among review XX

We their help are therapies. to them response better Phenoptics their predict trials working biopharma novel understand with to closely clinical implement in companies to and

Our delivers. a signature recently Phenoptics announced Solutions of example and partnership with AstraZeneca, the is Advanced group Biopharma the value that

of companies. transformative the as key Because publication part phenotyping Johns has are to resolution the throughput Hopkins to of success featured and robustness A of signatures of Phenoptics, standout partnerships inform initiative. spatial XX and other their Akoya, June of immuno-oncology the of predictive these partnership biopharma from clinical discoveries with established similar trial signatures. our of issue driver platform continued to with Phenoptics, discovery the with leverage is the powerful of AstroPath University, team to leading AstraZeneca's response number a design. Phenoptics discover partnered their and A therapy ongoing publication the at division and services in of science

at In confidence, and astrophysics our solutions, paper, discovered of patients. AstroPath in degree Hopkins biopharmaceutical their our with to partners. a signature, biomarker predict high at team we team Johns in core. Together, powerful Hopkins future this immunotherapy a leverage partnership, provide Johns with the more clinical to their the between within edge cancer Phenoptics and response department the AstroPath aim a disciplinary platform to discoveries is a center powerful shared cutting with groundbreaking advanced now even to to melanoma trial this

fourfold increase than rate our continues. platform is publications a months. there XXXX, the There In publication, publications over XXX of of now XXXX. That's are accelerating This more AstroPath XXX half all year. last on in XXXX. near peer-reviewed last in already XXX were the in the platform on And nearly our addition first publications of publications, to peer-reviewed the XX

use Our clearly customers Akoya's of through their platform. uncovering scientific are discoveries high-value

expand driving and infrastructure we outlined, to As remain revenue we in investing development. accelerate focused growth the and by commercial our on business research

XXX we significant XX about from worldwide, approximately employees As XX, have of a December increase total of XXX. June the

of all in We industry into years of executives talent are as accomplished transforming most Directors. the investment, our more We the a innovative testing recently proven of the and XX announced continuing aggressive the one to about the track our business Board and Mendel, experience, Scott of excited in Scott technologies ahead. record parts prospects add to of diagnostic of solutions. are brings clinical appointment Mr.

over beyond. and to on our the financial that quarter across performance, achieving plans, Akoya, We XXXX our In Joe? discuss move we and call Scott, turn to are important company. tremendous will of with and summary, insights we're Joe, great we will look strategic the progress forward now I as to executing forward range to as financial second bring advance a results. through pleased we metrics confident to continue our

Joe Driscoll

Brian. Thanks, everyone. Hello

for quarter As year $X.X $X.X Reagent revenue million compared customers. XX% $XX.X earlier, the impacted our to year compared the instrument second of $X.X the second revenue million disruptions quarter in XXXX, quarter quarter XXXX Brian prior $X.X return per million was quarter. to million the $X.X compared of second of was million reagent Increased Within year. in second $X.X the revenue to experienced. the of prior second Services other by revenue mentioned at the in instrument revenue, million, was was in as due XXXX than revenue quarter quarter prior The $X.X versus in in total compared as higher instrument Product work in XXXX, the pull-through represents the was prior million million growth. product the and quarter many previously labs to prior million revenue in $XX.X of XXXX was of in COVID-related second million to totaled which and of to XXXX for year. count, year $X.X quarter. greater

are than The for our our on historical base as monitor we for significantly, installations total which earlier. exceeds which sold instruments quarter Polaris had additional expectations. units sold of below key June in our strong per pull-through annualized The to by Our likely pull-through, quarter CODEX the Polaris. year-to-date has line with will a Brian installed end expected second quarter, the seasonality. XXXX. total We XXX several another QX. in range. The and CODEX installed business discussed now in basis been in is highlighted $XX,XXX which indicators the due ship in Reagent but revenue To both is XXth, the instrument performance, pull-through instruments. higher Polaris instruments is majority performance close will third Phenoptics XX to low near the quarter which solid XX did of as be of is base $XX,XXX the with be instruments We CODEX reiterate, the

$X.X reagent million significantly in second quarter plan, with quarter. of quarter. of in in quarter. driven was $X.X margin were was $X.X in line positive increase gross XXXX the prior margin as resulted Total gross business the in the in an prior the XXXX potential The invest the increase out $XX.X revenue This by resulted the year. which the Japan second purchases in in IPO. pushed increase quarter compared following year disruptions expenses to COVID-related some in XX.X%, of were operating million prior million compared period. part profit being the to mix the of from profit several second year In instrument was strategic our our million Gross there of in the of our plan Additionally, primarily in XX.X% the to

the We of are to including continue increasing business aggressively growth. spend to market share hiring all our aspects in commercial drive

quarter. to XXXX the investment of of the should in increased second million the in project third for due in quarter quarter Looking expenses. loss forward, the we compared loss net OpEx million least be million at XXXX was Net of $XX.X operating second $X.X to $X.X

the year-to-date This months revenue on targets million, is track Our first XXXX. $XX.X six achieve our increase right to a over us XXXX. fiscal of XX% for puts

XXth, outstanding $XXX.X million of of June have are XXXX. We Common of XXth. June as as cash XX.X million shares

of XXXX in the highlighted ability confident revenue over As remain deliver earlier, growth to strong growth approximately are third year quarter prior to and anticipating our we XX% in quarter. XX%

and are We guidance at $XX.X for XXXX million. least refining full $XX the between $XX from year million our million to

guidance our each results second delivering are quarter The we strong focused exceeded on results and consistently quarter.

over to Now, I'll turn it back Brian.

Brian McKelligon

impact Phenoptics Joe. research robust summary, of a and public as remain second results we CODEX adoption the of our discovery, you, quarter We're and strong In about biology spatial the Thank translational, excited on company. and pleased to markets clinical platforms. report see continue to in our

and and and for customers ahead. We shareholders. positioned the the remains fellow dedicated Akoya the support for about of excited are work growth Akoyans for our of our we're hard well thankful opportunities

Now, call at Operator? this open point, the we up will for questions.

Operator

from is Savant Stanley. first Thank Instructions] Morgan Our you. question [Operator Tejas with

Unidentified Analyst

for Tejas. Edmond -- on [ph] Hey questions. name is guys. My the taking Thanks for this

start quarter-over-quarter that seen the in that Just placements were The instrument by off, Japan. COVID to clarification. headwinds correct? step-down Is I was driven in wanted a

Joe Driscoll

you're versus about? talking QX Yes,

Unidentified Analyst

Yes.

Joe Driscoll

Yes.

of quarter So, there due to near are right we more COVID-related were -- out units that closed pushed additional issues. a QX. CODEX the And that the in couple then QX going of basically end ship to got Japan in in units of several

Unidentified Analyst

Got it.

weeks, of any as have aside blooming? regions starts of I of seeing terms like-- last developed from resurgence you pockets in weakness certain the of What you So, over note couple are in on that COVID Japan guess seen the

Brian McKelligon

Yes, I appreciate your questions.

ahead. you, interrupt go to Sorry

Unidentified Analyst

of what I you're okay. was in for reagents? it's and terms ordering trends asking, instruments seeing No, just

Brian McKelligon

has on of like look the reagent the it access line our we're an point to with in likely instruments forward, we in customers. still At confident Customer access Asia dynamic, ongoing heard. Yeah. It's dynamic, again, pretty pretty continuing. U.K. ongoing expectations, opportunities this an as pretty is though, the side volatile. you've challenge And in and that are areas it's terms the problem. but There's been in in U.S., Pacific as

Unidentified Analyst

That's up much the have similar And then, say, they then, in not incremental agreements? or there's can very And there? any collaborations the on network helpful. would can updates turning of assuming the But you you your Got really terms your, of agreement ZEISS in to of provide were technical be progress? I'm guys it. collaboration, mapping three side. mentioned, product made you for collaborations new co-marketing types deal terms that iSQUARE any

Brian McKelligon

continue are for Yeah. are acquisition streamline Maybe new benefits workflow, the technical the increase there, to really in integration, where drive ensuring similar, user just reverse order deeper speed, and experience, arrangements all four the resolution. structurally to tight adopt

would and question really So first the I are beginning in technically put side. activities to co-marketing just structurally, they're both, to place same your be co-marketing say the the now.

size details any or off of this specifically more nothing So the three point. at or on other

Unidentified Analyst

final And coming one of one of remind research your this from any program launching then, if up initiative, Advanced other in as terms your it. me, you've you that you Got in out program Solutions highlighted research clinical Biopharma be us, can might strategic clinical initiative? roll

Brian McKelligon

So Solutions of part partnership in with key as space. BioPharma AstraZeneca like we Advanced to clinical biopharma the group announced reiterate trial to the our work

of I-SPY Francisco of portfolio a trial focused that X about partnership terms the That's the Phenoptics opening on announced another which remarks. partnerships, on we UCSF, their breast within with UC we the partnership talked cancer. San In is similar publications in on working that top

Unidentified Analyst

much your very you Thank time. it. Got for

Operator

comes next with Steven Piper from Our Mah question Sandler.

Steven Mah

thanks questions. taking for my Hi Congratulations. And guys.

Brian McKelligon

Sure.

Joe Driscoll

Steve. Thanks

Steven Mah

Yeah.

timing? Advanced accelerate CLIA Biopharma to of get help that's guys stratification. undergoing the expect, should And partners partners? I your we a to trial So Solutions, clinical lab you know certification once -- that going an maybe out new certification, do Can patient just on signing on update is to CLIA stay the you the lab on get we Marlborough

Brian McKelligon

Yeah.

of us on regulatory there's bit reliance stamp. So a little bodies the the the timing final giving

answer question it and the that for existing to kind discussed we question actual new this with the CLIA I to And contemplate likely about to with that's similar business use within up have think your studies. yes, So flow your business of to services expect of opens to we partners that And be example, to additional quarter. before. what certification for ABS enrollment our

Steven Mah

publication That's a on great. And the color. question had then, helpful Okay, I side.

maybe can studies of So like what proportion for translational work? give XXX a sense new of, versus discovery publications you were us those clinical

Brian McKelligon

good are CODEX XXXX earlier a starting within the Phenoptics XXXX. to are guess of Phenoptics Of studies, at with -- out I overwhelming the question. really just some say since That's in like portfolio. are the on coming the on really foundational majority of And of because are those in. Yeah. translational is end its XXX would those the I the of throughout in these portfolio That AstroPath publication. the the publications analytical that robustness. majority talked overwhelming And the standing would roll said, its majority Phenoptics we establishing market launch X.X science of of longer Phenoptics the about those

are but the Now, platform need clinical requirements to establish talked that the predicate one those earlier those study. could that really about a you are argue as translational, robustness for we

the of about, even are some we talked them really platform assessments like those, some they're within MITRE So, of not Steven. translational. study And

Steven Mah

in yeah, translational. square the CODEX the – How the and yeah, Yeah. away Phenoptics than quarter? maybe pull-through helpful. publications A were that No, that's do of you yeah, being mean, Phenoptics I I higher with appreciate that. just lot And

Brian McKelligon

well take come – like out. publications usually the year half and just It's to

any starting just people publications. CODEX unique We add XX if such is just are say accelerate the pull-through was guess, more of So, see I for is pull-through launching a of know I front. get the didn't the starting use we're XXXX, the a to have estimate, color XXXX, just or Joe, year. so on the XXXX think happening, blanket throughout XXX I'm CODEX CODEX it's because a are lot the to to Steven this the to want probably, CODEX you value don't of And going because of to I and a probably really complete it kind lot that. throughout and of platform. wet visibility

Joe Driscoll

Yeah.

CODEX now. really hit is starting just think stride its I to

the that So in instrument. we seeing in used of launched labs their XXXX to a it was year. are now it and think strange getting the XXXX. CODEX kind Then and People were back really And XXXX. I people value came using in of

its it's So hit starting I right think, now. just to really stride

Steven Mah

that's question you, Okay. And maybe for color. No, Joe, Brian. great and then also

aggressively do hiring As you Thank or to balanced specific side, going and is invest across geographies, higher you. it on any spend of globe? sort say, business guys the sales see the to continue you're any in you marketing in the

Brian McKelligon

Yeah. balanced. I mean, I think generally, it's

just there's terms we're I recognized. some think think get let because really stellar opportunity I more surprises how I'll color. far don't cost we talent, of advance, of you we're to Joe, but broadly any having just the basis, add But an think I in

Joe Driscoll

world. Yeah. We're adding commercial the people throughout

So right functions. geography the adding in of over and some in talent research based US we're now. all like adding the world. because on and that's every that the just areas people US marketing are sales side, purely happening just We commercial areas But would development, be and

Steven Mah

Great. Thank you. Okay.

Operator

Thank you.

next Our Genuity. Mikson Kyle comes with question Canaccord from

Kyle Mikson

Hey, Thanks. my Joe. question. on a great Congrats and taking for Thanks quarter. Brian

Brian McKelligon

Kyle. Thanks,

Kyle Mikson

Yeah. the well. I talk want to guidance Sure. as

of below Street. on of or is of third of third installations question. prior some the if placements delays, I of that quarter out wondering, like the just that, The implies I higher Japan off the interim growth, given maybe well? piggybacking level of the guess, mean, expectations be also which went just kind XQ was but and would then Thanks. the and there? is I abnormally as kind jumping XX% quarter was wondering, and above the that So what I year-over-year quarter in baking you're tempered fourth Street, And conservatism The

Brian McKelligon

into predicate let year. the is year's here Kyle in in prior is the of of prior prior I'll the Yeah. we're think dealing like details. we're everybody an years Joe awkward I with dealing an what Obviously awkward kind the growth And terms – facing quarterly with and over dig

in continue. with year. that gross think will expect of sort bit the rest do percentage color. more you line through instrument on a and I'll the placements Yes, we of be Joe, let expectations little of QX to add But for lumpiness our I So, the

Joe Driscoll

Yes.

think think to big QX. from don't I a be that pop to anything be it's QX going I normal over a is going from quarter. carried

solid looking placed more So another QX And make a QX everyone's kind QX, continue year, in we instruments certainly But I at you're direction. meet if probably look the And a take being just really in few guidance we're And right in think just we'll after the stay take I really things for right guidance. than it we easily want of next conservative to trying QX. a update our now, quarter-after-quarter. we're to deliver trend updating to posture now, to just have if we quarter right at our trying sure said, can conservative expectations. like

Kyle Mikson

on any type over guess? event, BCX the in accelerate honestly, just product of a your on it's wondering Okay. early? any time happening there platform any too have spatial in Yes. obviously the competitor that. about impact I of And a I Like based what's to single-cell, with with province. think you appreciate it competitive going that, with recently, think end end et assay guys. Obviously peak Thank I I transcriptomics you just space? you between landscape. landscape slide, mean I'm the multi-cell, notice do cetera. whole is And you're in if you launching do also for entrant that change a differences the capability could what or lights platform wondering was development

Joe Driscoll

Yes.

they to that CODEX doing we're multi-element think lot this a comparisons it. these on lot necessarily There's coming is the about a look think degree are what still of of doing of high really we I out that the on are solutions do recent did market of a of growing. way the I the some competitive extracting and system head-to-head. placements environment greenfield the have is we out a most placements is rapidly at unique value of not transcriptomics webinar that and And what's spatial side. complementarity And

platforms of suite we'll So, well. their see like future, I to we as think you're move I the look earlier, forward look as our a expand science ours our and at lot to going And leverage alluded to forward. to application customers, to capabilities, as that

Kyle Mikson

far? lot. but that have so network, that any a Thanks And I acceleration I applications turning or have I the And how Okay. partners kind of don't up? the you like yet? know this if ramping kind of does utilization also, just novel then come then, to of guess, And trending many guess out iSquare disclosed joined how obviously

Brian McKelligon

second didn't the application who be is probably partners their your are but We'll we the not have Kyle? part was I yet. talked what be your coming question question going the those and talking about, first focus second is, of to of the hear of in the have quarters. what And part memberships So, the those number part we yet and members about specific in

Kyle Mikson

that No, that. I of kind answers think Brian

good kind kind I'm that of sides think the of at I good. both question, so answers that's of

if context how Biopharma, AstraZeneca like with the Phenoptics, time of for meaningful collaboration partnership with question in future? around or And I to last milestones. wondering the product one lies any in important in of work development the tell what us you Just on really could was could that align kind ahead that lines be broader efforts the just average

Brian McKelligon

Yes.

lot partners, are So, other multi-project confidential a partners our with biopharma these that that can details. with but that of is no -- of partnership specifics Obviously, not the I with reveal. them what's just large important underlying partnerships. terms AstraZeneca, But on in

think, And you're correct. so I

work is group, As important we biopharma. look these ourselves and trial more immuno-oncology investing Biopharma we're key really vehicle the within because clinical a forward, biopharma, to Advanced the Solutions of really it more in the IO embed of

us And so these partnerships. part an group to as ABS of leverage important that's the avenue for

Kyle Mikson

for and Okay. Great. taking again. Thanks congrats the questions

Brian McKelligon

Thanks.

Joe Driscoll

Thanks.

Operator

Thanks.

Julia with Yueke from JPMorgan. is [ph] question Our

Unidentified Analyst

consumables the what on are pull-through contributed Hi. how the Good the think that or see about consumable we as to And above just that about what revenue any the following half, such strength? this think And strength really quarter. chances are should guess to? guiding as we afternoon. there Maybe I² factors I projects, going up partner you're second timing we can forward? big

Brian McKelligon

Yes.

event So single was drove there no the that consumables.

it I lot do in unlocked lot have for of to and had demand a that generally the of people a was work. the get think -- ability lab not didn't

was big QX, in standard I seasonality consumable of drivers. you We descending see order. that goes QX, QX a the one sort the sort particularly QX, of that that of on side think have

continue. said, consumables. that And that that's -- So that profound I the we year-to-date. year-over-year, one aggregate with the sees suspect we're in seeing going But growth seasonality that's to pretty general that

Unidentified Analyst

monetize And it. Got platform. trial of you business, of the trial we How great perhaps this instant validation readiness of have the it about ABS time the your think or clinical the your you service, obviously, now will placements through think KOL that a mostly kind or little business? clinical of on own does help answer us horizon? it's that see to piece through bit. of Just Is part the the through as depend

Brian McKelligon

Yes.

It is monetize So way really through we is both. through that both. the

over years. the that's we'll have systems well bought internally as again, AstraZeneca, disclosed. couple of They publicly that's of last one use because So, that the they a number

customer platform both Phenoptics as important the growing by our really customers, us So an services. through the acquisitions biopharma we is ABS CROs what of well is by who see business our of base as

in also happens -- it's is both. really the generally are And projects these So size. then what larger

our as drive well. consumables it does help So

Unidentified Analyst

Got it.

in about the it how current this second embedded should of much already guidance? so ramps And CLIA and from how is And revenue starting year how your half there? benefit from the kind of the certification contribution really we in think

Brian McKelligon

efforts Yes. of we've our translational research part we talked effort, about of has I -- think XXXX the plan. this part as been in and of our clinical most today mean, I what

lot So in I think, already contemplated we the both of have with a ABS the biopharma this and of model workout system placements and in growing CROs. the

Unidentified Analyst

Thank you.

Operator

this call remarks. would to McKelligon his Thank our you. concludes for Brian And back to turn I the like final Q&A.

Brian McKelligon

really to soon. for to you thank look everyone do time appreciate to just Well, again and up following forward today. your We participating

all. you thank So,

Operator

your you thank participation conference. And for today's in

now You may day. Have a wonderful disconnect.

Akoya Biosciences (AKYA) 11 Aug 212021 Q2 Earnings call transcript