Telesis Bio, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2023
February 26, 2024 at 05:00 pm EST
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Telesis Bio, Inc. provided earnings guidance for the fourth quarter and full year ended December 31, 2023. Total revenue for the fourth quarter of 2023 is expected to be $7.0 million, a 26.3% reduction from $9.5 million for the same period in 2022 due primarily to capital spending weakness in end markets and the resulting mix-shift toward lower-priced BioXp 3250 instruments.
Total consolidated revenue for the 2023 fiscal year is expected to be $27.5 million, up slightly from $27.4 million achieved in 2022.
Telesis Bio Inc. is a provider of ribonucleic acid (RNA) and deoxyribonucleic acid (DNA) solutions. The Company provides automated multi-omic and synthetic biology solutions focused on providing applications to enable researchers to rapidly and reproducibly build or write high-quality synthetic DNA and messenger Ribonucleic Acid (mRNA) and short oligonucleotides that are ready to use in many downstream synthetic biology enabled markets. Its BioXp system consolidates, automates, and optimizes the entire synthesis, cloning and amplification workflow. Its on-market and its planned solutions include BioXp 3250 system, BioXp 9600 system, BioXp portal, BioXp De Novo kits, BioXp Select kits, BioXp Next Generation Sequencing kits, Benchtop reagents and Custom Gibson Short Oligo Ligation Assembly (SOLA) enzymatic DNA synthesis (EDS) solutions. BioXp Select kits offer customers the ability to use non-Telesis Bio DNA while using the BioXp system to perform synthetic biology workflow applications.