for Olink's Stina, call. Thank you, you joining everyone, earnings second thank quarter and and good morning,
that hospital he just Before and return get today, strategic started force objectives, full intestinal to very year start Jon, today, and well Commercial soon Carl. results expanding today, operating we in an had years by circumstances today. full him to I've he XX expects want some appendix spoken unable removal join caused to ago. with admitted doing has given Jon been to I inform the call obstruction he's overview unfortunately, the is and Signature results With as offering launch which with soon Thank Chief product us, include Raimond, an of financial Officer. to and Carl our as you I an joining treatment. he I me update for guidance. will our our and on have and our receives to
our a as the I'm which second marks excited quarter first We quarter very full public up company. of call XXXX, with performance questions. will open our Overall, then for the in
pleased discussed with to today. to the human In delivered strong quarter, our understand on company, we During total revenue our of representing first $XX.X operating several We're which we further be objectives, quarter of delivered reported to had plan biology. in significant with million, constant real-time a compared of organic solid financial results proteomics that grew second currency growth to better and of report help public full our XXXX. year-on-year XXX% achieved driven quarter adoption quarter entire basis, will by both of a the aspects and strategic we Kits all respectively, as quarter our demonstrated compared revenues XXX%, which growth platform launch. an strategic from second were XXX% our Service across the and execution the On of the the XXXX. segments This of and Kit business, XXX% by Explore expand performance Explore resulted
And a further, our are offering late as QX kits in may through recall, service analysis and offered products both our Kits as was XXXX. As reminder, launched services our you of lab.
So QX Explore for XXXX represents Kits. first activity of quarter full the
for of our momentum for very see building out Explore installations plan continued targets. pipeline The they're out and pleased the robust our the are supports external We set and internal term. the Explore near that platform, ahead to we've somewhat looks
a revenue We quarterly we've by and access the we Kits solid encouraged penetration regions. are a biopharma in fact pipeline. Explore To-date, generated all of representation that regional also saw we from that perspective, growth From both good see positive in academia XX installations, early of customers. and including revenues
We continue we strong our and are to that about we're the excited continuing into ramp up to organization, team investments expand globally.
maintain the monitor of to of million $XX XXXX. over in annual the development pandemic. COVID the And recent million will revenue how to increased guidance Delta variant, of light the for to continue respond our countries $XX we uncertainty We
leader our in discussed with during inefficiencies in proteomics a overwhelming is that field platform the on development. Olink and differentiated of health emerging care drug we to quarter's biology mechanistic As the address provides last call, clarity
the Olink starts work Furthermore, of three and publications an clinicians as and leader, are our of base PEA, our We Olink's Proximity market the our by disruptive lines: and proprietary comprised customer customers in are evidenced of Extension market that a to Assay to accelerating Explore, technology, referencing differentiation our led growing Target proud with recognizing product researchers platform. number technology. has accelerating Focus. Olink and adoption
excitement offering offering several strong a adoption March launched as additional We ended continue product newest from München. compared University external XXXX XXXX, customers. was and to of service as the quarter and quarter the that worldwide our installations XXXX. as labs increase with in kit we Our in in This represented June Helmholtz total from including Explore, line, rolled a met In with XX been XXXX, second -- and Zentrum pipeline of out the offering generated the more have at FY strategic and Explore XX% to revenues of than revenues since sites, of Oxford XX% XXXX, 'XX. has
and covering can pathways with throughput provides to XX,XXX approximately business. and access expansion, close this excited library all unparalleled Illumina while and dynamic milestone combined XXXX, NextSeq carefully high this experience week the sensitivity, NGS significant with This system number with are the immunoassay on of protein in recently of the XXXX targets kits the Explore PEA, maintaining with increasing Explore's specificity momentum is the to X,XXX and introduction of multiplex assays. We samples expanded precision. a readout range The a Olink available in customers offering biological With Illumina the product pleased June. of system. remain our Olink per By the NovaSeq an We biomarker technology per using features platforms. and announced doubled expansion Explore of we Production-as-a-Service about customers created as it offering validated
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targets protein XXXX XXXX ambition in to biomarker expand to Our on-track. remains
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also We we at parts were ahead in especially team. growing we R&D but in slightly business are to we to employees. quarters employees, hires, ended of of end to are and commercial had curve our a whom add meaningful come. XXX the are the of and expecting of XXX teams, continue all our and number growth the months, of years commercial And We XXXX XXX June, investing with the
-- of to led to York planning recently XX, have details but come November an Investor number we opportunity soon. And hope excited on are on addition, in Summa wanted holder Day where chance person, that the New we significant and will will you developments. to to meet announce a of more secondary the continue we we COVID-XX we our were date, the you road, And and save in in In speak the monitor closed many offering by Equity, we about July. shareholders the with by selling equity a to
pause look a financials, I performance. we were summary, wanted our at conclude. to our quarter and closer second with taking In pleased Before
executing launched framework growth $XX.X which quarter We the to confident investment the activity place QX explore Revenue was our of growth our for XXXX. years sales representing Total strategic into momentum and offering, XXXX. of the financials. late million compared continued QX expansion was XXXX full that in of to our quarter second in are the for Explore in come. first we drive with on quarter million of as $X.X to driven for kit the was by Digging the revenue plans our have deeper XXXX the second and continue meaningful platform
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XXXX. second the the Looking world million was $X.X million for of at the $X.X the $X.X the XXXX. in as quarter quarter of we by a Cost XXXX. to resulting a of second the EMEA, in XX.X% $X.X to gross margin This sold was QX million capacity the $X.X in of kits of million million quarter in decreased XXXX compared basis QX as decrease gross in quarter, the profit the year. in variances. decrease XXXX. of compared the a was gross service versus quarter of revenue the to geography. million sold by $X.X million to In to in rest to quarter goods in $XX.X primarily and continue as last margin $X.X points and XXXX $X.X second due production in $X.X in of invest in million of to impacted second in China second quarter America as was as a XX.X% profit million for million second was of Adjusted North quarter of of was in goods second gross of compared cost reduction positively revenue XXXX, in XXX Revenue margin of as compared And revenue resulting
to XXXX quarter second of The to $XX.X in to percent kits for as the service the of into the continued for Other XX% as to profit underlying second quarter to kits expected second positive level were level XXXX the margin quarter XXXX adjusted XXXX gross is second XX% positive of $XX.X XXXX. our to Our profit adjusted Adjusted gross profit margin compared lab. of primarily temporary million second margin quarter inventory anticipated a the XXXX, XX% as represents decrease XX% a a margin quarter for the quarter of service growth, over revenues for revenues margin the the XXXX. to quarter reduced an increased capacity profit quarter of The of business. due adjusted gross gross single the And Kits impact of margin as investment due to due of second core in a decrease million explore Total a order for for was analysis percentage gross quarter for compared margin for offering. decrease was the to gross Adjusted of to in a was of Kits second for XX% mix strategy operating variance primarily second for expenses gross compared compared total as in in XXXX. The time. XXXX. compared was the for we XX% the By XXXX. to segment, second as Other second introduce quarter was have for ahead a the efficiency lab in XXXX lab was for compared
to continue as during R&D really and our are our invest hires curve. business But of we previously, roadshow, of We and meaningful investing and particular. teams growing mentioned what the of to number commercial ahead according adding slightly we the the strategic plan parts all communicated in a to
for expenses related Excluding offering, quarter were non-recurring million, second operating $XX.X our follow-on including D&A. the the items to
in expenses for we at and operating quarter see XXX had are we commercial end $XX.X whom were We team. Olink, the opportunity lot XXXX million. ended accordingly. our We And D&A, of XXX the investing ahead employees. for were Excluding of June, the of XXX with a employees,
following million are XXXX. $X quarter for the out second increased expenses intangibles compared XXXX the follow-on second were Administrative course prior operating Further, ordinary quarter of of we've expenses selling amortization, quarter $X our expenses of year-over-year, were and to and offering the in the stemming XXXX price expenses public for purchase $XX.X being Summa's Our as for second broken allocation million $X of were related of quarter of from company. of $X.X follows: included for XXXX. XXXX. olink $X.X Research versus to Administrative million the the $X XXXX as year. in million a approximately expenses in of million second business of quarter as second second the million expenses same the related expenses development million period for to expenses acquisition incurred quarter to have additional compared for $X.X the the in administrative million
efforts, as the as XXXX. in per for XXXX was loss cash of ended of quarter to income to of loss negative million plan was of compared our the proceeding compared Net initiatives. XXXX. million for in to second cash quarter operating We $X.X of the of $XXX.X second million compared Net EBITDA the and a of for Other for quarter to XXXX. the of second million second with the quarter $X second $X.X continue quarter the million our for are invest We second $X.XX of XXXX. $X.X share for to $X.XX on second second million major to quarter XXXX million negative compared were as XXXX quarter Adjusted loss was the equivalents. second the in of $X.X we XXXX $XX.X all and R&D quarter according loss quarter
the around range Moving COVID XX% the be over the and XX% and for our uncertainty revenue to percent million growth. of second was rest guidance, another the to for XXXX $XX we full to growth year. the outlook maintain pandemic, revenue we XXXX to our year $XX in Due of of In continued expect XXXX. summary, to quarter of continued the quarter million, representing execution the
growing with robust and operational adoption future and pleased strong our are and We and portfolio and providing questions, traction across entire our look this to we point, so services. into investments up results. products the financial for are updates We At of business our forward making we will open operator?
