IsoPlexis Announces Preliminary Unaudited Revenue For The Full Year Ended Dec 31, 2022 Total Revenue To Be In The Range Of $16.6M-$16.8M, Down 3%-4% YoY; Q4 Results Were Lower Than Expected Primarily Due To The Timing Of Customer Orders For Instruments

Author: Benzinga Newsdesk | January 12, 2023 05:07pm

IsoPlexis Corporation (NASDAQ: ISO), a company empowering labs to leverage the cells and proteome changing the course of human health, today announced its preliminary unaudited revenue for the full year ended December 31, 2022. Total revenue for the full year ended December 31, 2022 is expected to be in the range of $16.6 to $16.8 million, representing a decrease of approximately 3% to 4% compared to $17.3 million for the full year ended December 31, 2021.
 

Fourth quarter results were lower than expected primarily due to the timing of customer orders for instruments and lower consumable sales, as the previously described macroeconomic headwinds and difficult international environment persist.   Those headwinds include elongated sales cycles and restricted access to certain customer sites.

"The growth of our customer base in 2022 reflects the value of our platform as well as the dedication of our entire team in what was a difficult economic environment," said IsoPlexis Chief Executive Officer Sean Mackay. "We also made significant progress on the strategy we outlined in April of last year, to integrate our commercial, development and operational teams, to better serve our customers and build a sustainable growth company, culminating in the December announcement of our plan to combine with Berkeley Lights. We look forward to closing that transaction and leveraging our combined resources and capabilities."

These preliminary results are based on management's initial analysis of operations for the quarter ended December 31, 2022.

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