Berkeley Lights Reports Second Quarter 2021 Financial Results


Second quarter revenue increased 82% year-on-year

EMERYVILLE, Calif., Aug.11, 2021 (GLOBE NEWSWIRE) – Berkeley Lights, Inc. (Nasdaq: BLI), a leader in digital cell biology, today announced its financial results for the quarter ended June 30, 2021.

Recent Highlights

  • Total revenue increased to $ 19.3 million for the second quarter of 2021, an 82% year-over-year growth and bringing first half revenue to $ 37.9 million, an increase by 56% compared to the first half of 2020

  • Launch of Opto Plasma B Discovery 4.0, a state-of-the-art functional antibody discovery workflow that dramatically increases the diversity of sequences recovered and reduces costs and labor associated with synthesis, cloning and DNA re-expression

“During the second quarter, we made significant progress across our business and saw growing demand for the Berkeley Lights platform,” said Eric Hobbs, Ph.D., Managing Director of Berkeley Lights . “We continue to focus on business development partnerships, with industry leaders like Thermo Fisher and Bayer, to develop disruptive workflows and services. These partnerships not only expand the market opportunities for our platform, but also help us accomplish our mission by accelerating cell and gene therapy products in the clinic and helping to drive innovation and world-class standards by sustainability for farmers, consumers and the environment. . Berkeley Lights is uniquely positioned to do this, as we deliver unprecedented functional information at scale that can unlock groundbreaking improvements in human health. “

Quarterly financial results 2021

Three months ended June 30

(in thousands, except per share data)

2021

2020

(unaudited)

(unaudited)

Income

$

19,250

$

10,569

Gross profit

12 728

6 962

Gross margin %

66

%

66

%

Operating Expenses

30,577

19 112

Operating loss

(17,849

)

(12 150

)

Net loss and net aggregate loss

(18 154

)

(12,430)

)

Net loss attributable to common shareholders per share, basic and diluted

(0.27

)

(4.25

)

Total stock-based compensation

5 629

1,352

2021 outlook reaffirmed

Berkeley Lights continues to expect year 2021 revenue to be between $ 90 million and $ 100 million, growing 40% to 56% over the full year of 2020.

Webcast and conference call information

Berkeley Lights will host a conference call to discuss second quarter 2021 financial results before market opens on Wednesday, August 11, 2021 at 5:30 a.m. Pacific time / 8:30 a.m. Eastern time. A webcast of the conference call is available at http://investors.berkeleylights.com. The webcast will be archived and available for replay for at least 90 days after the event.

About Berkeley Lights

Berkeley Lights is a leading digital cell biology company focused on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products for our customers. The Berkeley Lights platform captures in-depth phenotypic, functional and genotypic information for thousands of individual cells in parallel and can also deliver the living biology customers want in the form of the best cells. Our platform is a fully integrated end-to-end solution, including proprietary consumables including our OptoSelect reagent chips and kits, advanced automation systems and application software. We have developed the Berkeley Lights platform to provide the most advanced environment for rapid functional characterization of large-scale single cells, the goal of which is to set an industry standard for our customers throughout their production chain. value of cellular products.

The Berkeley Lights Beacon and Lightning systems and the Culture Station instrument are: FOR RESEARCH USE ONLY. Not for use in diagnostic procedures.

Forward-looking statements

This press release contains forward-looking statements based on the beliefs and assumptions of management and on information currently available to management. All statements in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, market and achieve market acceptance of our current and anticipated products and services, our efforts to research and development, and other matters relating to our business strategies, use of capital, results of operations and financial condition, and plans and objectives for future operations.

In some cases, you can identify forward-looking statements by the words “may”, “will”, “could”, “should”, “should”, “expect”, “intend”, “plan” , “Anticipate”, “believe”, “estimate”, “predict”, “project”, “potential”, “continue”, “in progress” or the negative of these terms or other comparable terminology, although all forward-looking statements do not contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from the information expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are described under “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in documents that we file from time to time with the Securities and Exchange Commission. We caution you that forward-looking statements are based on a combination of facts and factors currently known to us and our projections for the future, of which we cannot be certain. Therefore, forward-looking statements may not prove to be correct. The forward-looking statements contained in this press release represent our views as of the date hereof. We assume no obligation to update forward-looking statements for any reason, except as required by law.

press contact
[email protected]

Investor contact
[email protected]

Berkeley Lights, Inc.
Condensed Consolidated Statements of Income and Comprehensive Income (unaudited)
(In thousands, excluding data per share and per share)

Three months ended June 30

Six months ended June 30

2021

2020

2021

2020

Income:

Product turnover

$

13,021

$

9,107

$

26,554

$

19 790

Service revenues

6 229

1462

11 324

4,557

Total income

19,250

10,569

37 878

24 347

Cost of sales :

Cost of product sales

3 332

2384

7035

5,004

Cost of sales of services

3 190

1 223

5 664

2 402

Total cost of sales

6 522

3,607

12 699

7,406

Gross profit

12 728

6 962

25,179

16 941

Operating costs :

Research and development

13,535

11 843

26,562

22 819

general and administrative

11 725

4,193

20,692

8 190

Sales and Marketing

5,317

3,076

10 923

6 310

Total operating expenses

30,577

19 112

58 177

37,319

Operating loss

(17,849

)

(12 150

)

(32,998

)

(20,378

)

Other income (expenses):

Interest charges

(356

)

(356

)

(710

)

(713

)

Interest income

43

47

109

198

Other income (expenses), net

34

37

53

62

Loss before taxes

(18,128

)

(12,422

)

(33,546

)

(20 831

)

Provision for income taxes

26

8

43

24

Net loss and net aggregate loss

$

(18 154

)

$

(12,430)

)

$

(33,589

)

$

(20,855

)

Net loss attributable to common shareholders per share, basic and diluted

$

(0.27

)

$

(4.25

)

$

(0.51

)

$

(7.29

)

Weighted average stocks used in the calculation of net loss per share, basic and diluted

66 790 755

3,109,545

66 029 307

3,078,756

Berkeley Lights, Inc.
Condensed consolidated balance sheets
(In thousands, excluding data per share and per share)

Assets

June 30th
2021

The 31st of December,
2020

(unaudited)

Current assets:

Cash and cash equivalents

$

215,077

$

233,408

Accounts

19,760

12 939

Inventory

12,572

11,047

Prepaid expenses and other current assets

8 115

8 175

Total current assets

255,524

265,569

Restricted species

270

270

Property and equipment, net

20 839

14 544

Operating right of use assets

15,724

16,718

other assets

3 357

2,557

Total assets

$

295,714

$

299,658

Liabilities and equity

Current liabilities:

Accounts Payable

$

8 727

$

3 491

Accrued charges and other current liabilities

10,501

8,401

Current portion of bills payable

11 594

Deferred revenue

8 258

5 482

Total current liabilities

27,486

28,968

Notes payable, net of the current portion

19,673

8.301

Deferred revenue, net of the current portion

1,875

1,709

Operating lease liability, non-current

14,841

15 899

Total responsibilities

63 875

54 877

Equity:

Convertible preferred shares

Ordinary actions

4

3

Premium

457,308

436,662

Accumulated deficit

(225,473

)

(191,884

)

Total equity for shareholders

231 839

244,781

Total liabilities and equity

$

295,714

$

299,658


Source link

Previous DataVisor named representative supplier in 2021 Gartner Market Guide for Online Fraud Detection
Next Paymentus to acquire Payveris