Revenue volatility remains a critical concern, with top-line figures dropping 48.2% in 2026Q1 while operating margins remain deeply negative at -59.1%.
Standard BioTools Inc. (LAB) annual income statement — 20-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Sales/Revenue | 84.6M | 85.33M | 174.43M | 106.34M | 97.95M | 130.58M | 138.14M | 117.24M | 112.96M | 101.94M | 104.45M | 114.71M | 116.46M | 71.18M | 52.33M | 42.87M | 33.56M | 25.41M | 15.35M | 7.28M | 6.4M |
| Revenue Growth % | -36.71% | -51.08% | 64.03% | 8.57% | -24.99% | -5.47% | 17.83% | 3.79% | 10.82% | -2.4% | -8.95% | -1.5% | 63.6% | 36.02% | 22.09% | 27.73% | 32.06% | 65.58% | 110.96% | 13.71% | - |
| Cost of Goods Sold | 43.03M | 42.79M | 90.17M | 55.89M | 60.9M | 61.21M | 54.82M | 52.96M | 51.31M | 49.95M | 46.01M | 46.63M | 42.85M | 20.08M | 15.32M | 13.19M | 11.58M | 11.49M | 8.36M | 3.51M | 2.77M |
| COGS % of Revenue | - | 50.14% | 51.69% | 52.56% | 62.17% | 46.87% | 39.68% | 45.17% | 45.43% | 49.01% | 44.05% | 40.65% | 36.79% | 28.21% | 29.28% | 30.77% | 34.51% | 45.2% | 54.5% | 48.3% | 43.34% |
| Gross Profit | 41.57M | 42.54M | 84.26M | 50.45M | 37.05M | 69.37M | 83.33M | 64.28M | 61.65M | 51.98M | 58.44M | 68.08M | 73.61M | 51.1M | 37.01M | 29.67M | 21.98M | 13.93M | 6.98M | 3.76M | 3.63M |
| Gross Margin % | 49.14% | 49.86% | 48.31% | 47.44% | 37.83% | 53.13% | 60.32% | 54.83% | 54.57% | 50.99% | 55.95% | 59.35% | 63.21% | 71.79% | 70.72% | 69.23% | 65.49% | 54.8% | 45.5% | 51.7% | 56.66% |
| Gross Profit Growth % | - | -49.51% | 67.02% | 36.16% | -46.59% | -16.75% | 29.63% | 4.27% | 18.6% | -11.05% | -14.17% | -7.51% | 44.04% | 38.08% | 24.72% | 35.01% | 57.83% | 99.43% | 85.67% | 3.75% | - |
| Operating Expenses | 121.76M | 135.85M | 259.5M | 127.05M | 153.26M | 136.83M | 134.36M | 116.12M | 109.81M | 110.34M | 131.63M | 122.22M | 114.75M | 67.78M | 55.08M | 45.24M | 36.55M | 31.96M | 36.53M | 27.29M | 25.29M |
| OpEx % of Revenue | - | 159.2% | 148.77% | 119.48% | 156.47% | 104.79% | 97.26% | 99.04% | 97.21% | 108.25% | 126.02% | 106.55% | 98.53% | 95.23% | 105.25% | 105.54% | 108.92% | 125.78% | 238% | 375.08% | 395.25% |
| Selling, General & Admin | 85.97M | 109.86M | 156.61M | 87.54M | 102.28M | 98.89M | 97.9M | 84.48M | 79.78M | 79.52M | 93.21M | 82.96M | 71.32M | 48.05M | 38.48M | 31.3M | 23.55M | 19.65M | 22.51M | 12.9M | 9.7M |
| SG&A % of Revenue | - | 128.75% | 89.78% | 82.32% | 104.43% | 75.73% | 70.87% | 72.05% | 70.63% | 78% | 89.24% | 72.32% | 61.25% | 67.51% | 73.52% | 73.03% | 70.16% | 77.32% | 146.68% | 177.29% | 151.59% |
| Research & Development | 18.23M | 25.99M | 62.41M | 25.95M | 37.38M | 37.94M | 36.46M | 31.64M | 30.03M | 30.83M | 38.41M | 39.26M | 43.42M | 19.73M | 16.6M | 13.94M | 13.01M | 12.31M | 14.02M | 14.39M | 15.59M |
| R&D % of Revenue | - | 30.45% | 35.78% | 24.4% | 38.17% | 29.06% | 26.39% | 26.99% | 26.58% | 30.24% | 36.78% | 34.23% | 37.29% | 27.72% | 31.72% | 32.51% | 38.76% | 48.46% | 91.32% | 197.79% | 243.65% |
| Other Operating Expenses | 1000K | 0 | 40.48M | 13.56M | 13.59M | 0 | 0 | 0 | 637K | 385K | -1.17M | -1.16M | -857K | 502K | -189K | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -80.19M | -93.31M | -175.24M | -76.6M | -116.2M | -67.46M | -51.04M | -51.84M | -48.16M | -58.36M | -73.19M | -50.16M | -51.84M | -17.95M | -18.07M | -18.57M | -14.57M | -18.04M | -29.54M | -23.53M | -21.66M |
| Operating Margin % | -94.8% | -109.34% | -100.46% | -72.03% | -118.64% | -51.66% | -36.94% | -44.21% | -42.64% | -57.25% | -70.07% | -43.72% | -44.51% | -25.22% | -34.53% | -43.31% | -43.42% | -70.98% | -192.5% | -323.38% | -338.59% |
| Operating Income Growth % | - | 46.75% | -128.77% | 34.08% | -72.26% | -32.18% | 1.55% | -7.63% | 17.47% | 20.26% | -45.93% | 3.24% | -188.78% | 0.67% | 2.67% | -27.4% | 19.2% | 38.95% | -25.58% | -8.6% | - |
| EBITDA | -73.22M | -86.32M | -158.38M | -61.42M | -101.18M | -51.89M | -35.11M | -36.03M | -31.66M | -40.06M | -55.25M | -34.04M | -47.77M | -15.4M | -16.59M | -17.5M | -13.07M | -16.1M | -27.58M | -21.39M | -20.2M |
| EBITDA Margin % | -86.55% | -101.16% | -90.79% | -57.76% | -103.3% | -39.74% | -25.42% | -30.73% | -28.03% | -39.3% | -52.9% | -29.67% | -41.02% | -21.63% | -31.7% | -40.84% | -38.94% | -63.34% | -179.68% | -293.99% | -315.79% |
| EBITDA Growth % | 25.64% | 45.49% | -157.86% | 39.3% | -94.99% | -47.78% | 2.56% | -13.8% | 20.96% | 27.5% | -62.31% | 28.75% | -210.25% | 7.17% | 5.23% | -33.94% | 18.81% | 41.63% | -28.93% | -5.86% | - |
| D&A (Non-Cash Add-back) | 6.97M | 6.98M | 16.86M | 15.18M | 15.03M | 15.57M | 15.92M | 15.8M | 16.5M | 18.3M | 17.94M | 16.11M | 4.06M | 2.55M | 1.48M | 1.06M | 1.5M | 1.94M | 1.97M | 2.14M | 1.46M |
| EBIT | -98.87M | -96.68M | -135M | -69.64M | -188.6M | -59.84M | -50.53M | -62.43M | -47.53M | -57.98M | -74.36M | -48.98M | -52.36M | -16.38M | -18.26M | -19.2M | -14.66M | -16.3M | -27.61M | -22.56M | -21.29M |
| Net Interest Income | 7.3M | 9.15M | 16.88M | 1M | -2.1M | -3.82M | -3.57M | -4.28M | -13.89M | -5.82M | -5.82M | -5.81M | -5.34M | -14K | -628K | -3.1M | -2.16M | -2.84M | -1.26M | -1.65M | -1.7M |
| Interest Income | 7.31M | 9.18M | 20.2M | 5.57M | 2.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37K | 766K | 1.14M | 565K |
| Interest Expense | 15K | 26K | 3.32M | 4.57M | 4.33M | 3.82M | 3.57M | 4.28M | 13.89M | 5.82M | 5.82M | 5.81M | 5.34M | 14K | 628K | 3.1M | 2.16M | 2.88M | 2.03M | 2.79M | 2.26M |
| Other Income/Expense | -10.79M | -3.4M | 36.92M | 2.4M | -76.72M | 3.8M | -3.06M | -14.87M | -13.26M | -5.44M | -6.99M | -4.63M | -5.87M | 2.26M | -817K | -3.74M | -2.25M | -1.14M | -103K | -1.82M | -1.89M |
| Pretax Income | -90.98M | -96.7M | -138.31M | -74.2M | -192.93M | -63.66M | -54.1M | -66.7M | -61.42M | -63.8M | -80.18M | -54.79M | -57.7M | -15.69M | -18.89M | -22.3M | -16.82M | -19.18M | -29.65M | -25.35M | -23.55M |
| Pretax Margin % | -107.55% | -113.33% | -79.29% | -69.78% | -196.97% | -48.75% | -39.16% | -56.89% | -54.37% | -62.59% | -76.76% | -47.76% | -49.55% | -22.03% | -36.09% | -52.03% | -50.12% | -75.47% | -193.17% | -348.4% | -368.13% |
| Income Tax | -37.05M | -37.88M | 573K | 452K | -2.83M | -4.42M | -1.08M | -1.92M | -2.41M | -3.26M | -4.19M | -1.48M | -4.88M | 137K | 136K | 166K | 83K | -50K | -147K | 105K | 194K |
| Effective Tax Rate % | 40.72% | 39.17% | -0.41% | -0.61% | 1.47% | 6.95% | 2% | 2.87% | 3.92% | 5.12% | 5.23% | 2.69% | 8.45% | -0.87% | -0.72% | -0.74% | -0.49% | 0.26% | 0.5% | -0.41% | -0.82% |
| Net Income | -87.38M | -74.9M | -138.88M | -74.66M | -190.1M | -59.24M | -53.02M | -64.79M | -59.01M | -60.53M | -75.98M | -53.31M | -52.83M | -15.82M | -19.02M | -22.47M | -16.9M | -19.13M | -29.5M | -25.45M | -23.55M |
| Net Margin % | -103.29% | -87.77% | -79.62% | -70.2% | -194.08% | -45.36% | -38.38% | -55.26% | -52.24% | -59.38% | -72.75% | -46.48% | -45.36% | -22.23% | -36.35% | -52.42% | -50.36% | -75.27% | -192.21% | -349.84% | -368.13% |
| Net Income Growth % | 27.48% | 46.07% | -86.03% | 60.73% | -220.91% | -11.73% | 18.17% | -9.79% | 2.51% | 20.33% | -42.52% | -0.92% | -233.9% | 16.83% | 15.34% | -32.94% | 11.64% | 35.16% | -15.91% | -8.06% | - |
| Net Income (Continuing) | -53.93M | -58.83M | -138.88M | -74.66M | -190.1M | -59.24M | -53.02M | -64.79M | -59.01M | -60.53M | -75.98M | -53.31M | -52.83M | -16.53M | -19.02M | -22.47M | -16.9M | -19.13M | -29.5M | -25.45M | -23.55M |
| Discontinued Operations | -2M | -16.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.22 | -0.20 | -0.52 | -0.94 | -2.43 | -0.78 | -0.74 | -0.97 | -1.49 | -1.84 | -2.62 | -1.86 | -1.90 | -0.62 | -0.86 | -1.26 | -0.89 | -11.02 | -17.85 | -13.47 | -12.46 |
| EPS Growth % | 27.97% | 61.54% | 44.68% | 61.32% | -211.54% | -5.41% | 23.71% | 34.9% | 19.02% | 29.77% | -40.86% | 2.11% | -206.45% | 27.91% | 31.75% | -41.57% | 91.92% | 38.26% | -32.52% | -8.11% | - |
| EPS (Basic) | - | -0.20 | -0.52 | -0.94 | -2.43 | -0.78 | -0.74 | -0.97 | -1.49 | -1.84 | -2.62 | -1.86 | -1.90 | -0.62 | -0.86 | -1.26 | -0.89 | -11.02 | -17.85 | -13.47 | -12.46 |
| Diluted Shares Outstanding | 390.88M | 381.62M | 352.67M | 79.16M | 78.31M | 75.79M | 72.04M | 66.78M | 39.65M | 32.98M | 29.01M | 28.71M | 27.77M | 25.48M | 22.14M | 17.85M | 18.98M | 1.74M | 1.65M | 1.89M | 1.89M |
| Basic Shares Outstanding | 390.88M | 381.62M | 352.67M | 79.16M | 78.31M | 75.79M | 72.04M | 66.78M | 39.65M | 32.98M | 29.01M | 28.71M | 27.77M | 25.48M | 22.14M | 17.85M | 18.98M | 1.74M | 1.65M | 1.89M | 1.89M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying LAB stock.
For fiscal year 2025, Standard BioTools Inc. (LAB) reported total revenue of $85.3M. This represents a 1233.7% increase compared to $6.4M in 2006.
Standard BioTools Inc. (LAB) reported a net loss of $74.9M for the fiscal year ending 2025.
Standard BioTools Inc. (LAB) reported an operating income of $-93.3M, resulting in an operating profit margin of -109.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Standard BioTools Inc. (LAB) generated $42.5M in gross profit for the year, representing a gross profit margin of 49.9%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent negative operating margins
Metrics are mathematically derived from official filings.
Revenue Contraction Masks Strategic Pivot
As reported in financial statements, Standard BioTools experienced a severe revenue decline of 48.2% in 2026Q1, reflecting a broader trend of volatility that saw top-line figures drop from $46.7M in 2024Q4 to just $21.1M, suggesting significant disruption in the company's core instrument and consumable sales channels.
The sharp revenue volatility indicates that the company is struggling to maintain a consistent sales cadence following its recent corporate restructuring and merger activity. Investors should monitor whether this contraction represents a permanent loss of market share or a deliberate pruning of low-margin legacy product lines.
Structural Margin Pressure Remains Persistent
Based on the provided income statement data, the company's gross margin has fluctuated significantly, reaching 53.5% in 2026Q1, which remains well below the levels required to support the high fixed-cost infrastructure inherent in the specialized proteomics and genomics instrumentation market.
The inability to consistently expand gross margins suggests that the company lacks the pricing power necessary to offset the high manufacturing costs of its precision hardware. This margin profile implies that the business model is currently overly sensitive to volume fluctuations, leaving little room for operational error.
Operating Leverage Remains Severely Constrained
According to recent SEC filings, the company reported an operating margin of -59.1% in 2026Q1, highlighting a persistent inability to scale operating expenses efficiently relative to the current, diminished revenue base of $21.1M per quarter.
The persistent operating losses indicate that the company's SG&A and R&D expenditures are not currently aligned with its revenue-generating capacity. This structural mismatch suggests that management has yet to achieve the necessary operational efficiency to reach a self-sustaining financial trajectory.
Earnings Quality Obscured by Volatility
As indicated by the financial data, the company's net income has been heavily influenced by non-operating items, with a reported $127.1M net income in 2026Q1 contrasting sharply with consistent operating losses, suggesting that reported earnings are not reflective of core operational performance.
The presence of significant non-operating gains warrants further investigation, as these items often mask the underlying cash burn of the business. Investors should focus on operating cash flow rather than headline net income to gauge the true health of the company's ongoing operations.
Sustainability of Current Business Model
Based on the reported figures, the company's reliance on high stock-based compensation, which reached $8.8M in 2026Q1, alongside persistent operating losses, raises concerns regarding the long-term sustainability of the current capital allocation strategy and the potential for future shareholder dilution.
Short-term observers may point to the company's cash position as a buffer, but the fundamental inability to generate positive operating income suggests that the current path may be unsustainable without further restructuring. The market appears to be discounting the company's ability to successfully integrate its disparate platforms into a profitable entity.