Marissa. you quarter call. XXXX update to welcome second and our Good Thank afternoon
large my to our want in quarter, ability diversified customers express and in objectively and to technology confidence challenging all we who our toward always, differentiated, unlock its of SomaLogic, base. As successfully sincere scalable the to and a us. our and At enterprise. I proteomics society and remains to gratitude at power for In make customer to trajectory invest durable grew building continue and support unchanged. continue a Despite the unique disappointing the ultimately quarter, our proteome and past have its we progress
protein and for opportunities, our inorganically would like execution to our We diversify sheet our also and products, and provides platforms grow scale, to investment strength especially inorganic the our strategy act position, to optionality revenue. sector. talent continued SomaLogic to in This products and platforms and attention in new continue others expanding specific identification technology balance cash comparison our significant the reach. and attract health to on evaluate capital I also to of and increase call expand in organically measurement market
a largely amount period significant our a made development turning have and time, over research commercial We of enterprise. short very into progress of a organization
place. put period And continue a elements on we build this navigate, while to I'd to challenging work have to and in the to impacted recent now in like factors remains most to revenue the quarter to we do. XXXX. work quarter the far However, thus second have turn color still have revenue, foundational we of $XX.X million, and our on additional provide for diligently that
backdrop the slowing forced macroeconomic in pushing revenue the distributed also companies space, particularly delivery, quarters disruptions At chain the number adverse same effect some sample had and affected has customer out the macroeconomic to time, our not First, subsequent the chain also our behavior. site both other to impacted recognition. have spending life tool Supply service of customers contracting, has an into dissimilar supply on innovative while revenue environment thus launch and of of kits. a slower-than-normal SomaScan our deployment largest has and sciences
million only several that contracts quarter finalized the quarter, dollars saw in in second we closed. after late were the underway Specifically,
from of customers. derived we in-house our over contracted are revenues, model, to while technology delivery service as more of relies we've Second, in XX% our from process distributed on a evolving discussed sample currently previously the business
a the We recognition. in have month-to-month revenue who sales building And still to and turn, on sample them especially of XX% are and in limited we third, global increasing revenues EMEA this present in last small creates competent are relatively capabilities platform. group. in And of are The and deliveries. months. generate commercial continue in at we who our highly company individuals, large to delayed quarter-to-quarter APAC, the joined ability US only six as This and experience experienced currently are our XX great has from and base of have consists deal a customer our primarily the variability expand and already working to dedicated customers, team
year, our for short across far the well this as XXXX to from something as part need of and are grow substantially growth tied APAC, headwinds, team EMEA fallen these in macroeconomic seeing and our well to has in our both as expectations others sales industry thus regions. revenue Our likely
and the a executive To as now predictable achieve for add our to global execution, through eye and to a and business, healthy in services Nonetheless, and we Manager details with are Shaun, on group At XXXX, products of million it current note, execution by optionality remarks. Adam take I the at earlier research, as Fisher. this maintaining less Sciences strong and analysis capital development balance Chief in do our full these aspects are career and important allocate powerhouse seasoned We're for support options sold that working EMEA to Blakeman address now conservative Life an comments. his urgency will as for led to a this It's will also of reducing more Adam appropriately as will largest in to ability talented in to details particularly successful and company business and than we significantly drive learnings in factors and portion for expenditures $XX planned support will we He an in to customers provide them enterprises more business unit, cell will SomaLogic. even after especially sheet, established out this our factors, product all our weather as large the portfolio the our market substantially reports and directly all where abundantly to to this Adam He currently of sciences related life balance environment. biology the Adam prepared headwinds our in much those same are operative we the well million our position macroeconomic ensure, still evolving build high Fisher, corporate to with $XXX diagnostic protein To on Shaun these life business and strategy And how an macroeconomic our and our we we organizing be available year and into foregoing level, address role life year, cautious. adjust incredibly Officer, also and therapeutic one with team resources to give scale led of As and expenses, well. a his and unit General remainder factors them. more me. to his greater facilitate markets. sheet guidance have challenging as more included into Financial are and towards are continue APAC. mitigating Thermo the it diversity sector. Thermo our and sciences greater opportunities business to of during revised molecular view still activities this to promoting XX-year there invest science will variability biopharma of be we Taich. business evident, commercial the year revising and commercial run joined the
doubled As see over can you customers over XX recent online have XX second past actually investor past the new slide of the new year customers on and added we quarter which deck, quarter-to-quarter months. represents XX this increase in our most our largest alone, in customers
significant and next or As the pay larger the of moving opportunity from new existing large real growth amounts life much beyond. customer customers to small we over increasing who requires, to encourage the sciences do often business year pilots for our us, onto dividends ones, our studies larger come with platform and should business ongoing revenue
it we to our in the recently is chain to protein from X,XXX X,XXX transitioned to to launch In and customer some addition make successfully should XXXX. samples to and deliver easier of working to product, growth, for expected are we XX,XXX effects successful is diversifying product secure have SomaScan regard relieve experienced. contracting commercially customers identification In us, have supply help to and which proteins measurement we in development and also
chip we time with the also with of cases in these diagnostic array-based And our high-plex significant the solutions products continued on business for with its launch and Palamedrix. distributed variability, consideration In use known impact orientation biopharma Illumina, customers substantially existing our to our business have service traction. quarter-to-quarter evaluation applications. recently launch academic products with commercial elements create SomaScan new SomaSignal plan; foundational clinical We current acquired are our and develop protein a grow NGS-based tests as downstream and recognition with distributed putting early over pattern as are well deployment month-to-month in of three-part to successfully and there kits, and place significant based increase clinical
have and to the plan customers, program. and these research products. kits turn Supply inventory existing to our ability biopharma recently The acquire first impacted and to part ability build this factors supply array-based reinitiated of distribute having our to chain our is in hardware negatively kits of
have in-house. new of taking are found components vendors However, we manufacturing and considering some
our our distributed life largest second sciences onto in of world of world's provider Illumina. with of part get plan The platforms is the Aptamer one to the solutions constructs
NGS earnings groups an them are and arrays the in go Illumina's proteomics sell our commercial market two call general mentioned application close Work commitment landscape create Aptamer week. co-branded of very launched and last as between quarterly partnership with and based when to in for change Our in XXXX. continues will SomaScan to products their well
with expertise of and develop version well next-generation chip-based engineering differentiated San what for economical our goal acquisition needed and while of acquisition to leader the our faster DNA make want We in potential technology. work process at platform. a for Third to more to measured Assay. a is increasing strategic for the done to more our brings Ultimately, enhanced unparalleled ease-of-use and announced was of genomic the and global July, number to to technology, future the SomaScan sequencing Diego-based Palamedrix, This true as a end the over time. talent equipment smaller this accessible all making of do distributed do scientific benchtop modular all we miniaturization proteomics proteomics as nanotechnology and and capabilities proteins
as This progress a business while OncoHost, an deal point of cancer July, Arab in but includes aimed leader United characterization announced efforts. with system alternative both of a new in choices partnership potentially to development opportunity, samples In a equipping providers well global in care. revenue for the agreement integrated technology with an the we decisions in make we we part earlier to of clinically oncology. at exciting with on the and Emirates future, to enable the our providers SomaScan and June, deployment Initiative, Mubadala our use product treatment the to enormous diagnostics decisions SomaSignal In agreement next-generation health continue to is network Finally, healthcare precision world-class long-term care enable Medicine new for therapies. to of as Proteomics to and Mubadala informed power OncoHost tests inform of practice. where focal Precision clinical create began at platform be clinical effort running the development and represents healthcare proteomic Health an tests international first SomaSignal partnership a the large-scale license
example minimum This volume SomaSignal groups and clinical be As Clinic provider our new of access partnership this order programs. tests Dhabi one These to patient provider and Abu affiliate care deployed prevention, enable and will to national care tests. wellness-focused multiple is including support just Mubadala-owned to clinicians at across patient patient great precision SomaSignal reference tests the a VIP effort growing for executive health part laboratory. other will their owned of successful now Cleveland under deployment, agreement through
team. and health and XX systems and was to traded report he second we We Johnson through company. business of efforts digital unit health initiated have Services built an company, as Todd acquisition documentation companies. publicly nation's have well. management accomplished digital control Prior asked over directly the experienced HealthLoop by our led digital CEO. he health its medical deployed diagnostics served hospitals operating full Salar, the tools Board SomaLogic, successfully He phase Officer by me Todd and at Executive which to of Chief and our new consumer CEO into assume as as largest facilitate of he acquired At founding that commercialization and will now a was recruitment GetWellNetwork. from start-up two time, Transcend talent At
more company raised our million have public XXXX. status since to XXXX than including in We transition $XXX
such managed SomaLogic have we to during times. profitability, important at and cash these have team and our growing focus Importantly, of also ahead is cover an differentiating our is extremely balance we sheet an -- of achieving balance differentiation expenses healthy that finances strong. point The operating and
to to continue expand work to outperform. it I'll quarters turn the We the Shaun. will and hard over coming in now to business
