Standard BioTools

Q2 FY2026 EarningsQ2 FY26 missed consensus across top and bottom-line metrics: revenue of $20.1M missed the $20.8M consensus, and GAAP EPS was -$0.07 vs. the -$0.03 expected. Despite a slight gross margin beat (52.4% vs. 52.6% mean, though normalized six-month performance remains steady), elevated transaction expenses of $14.7M related to the pending Treeline Biosciences merger significantly weighed on operating results. Management's strategic shift toward a reverse recapitalization with Treeline remains the primary driver of future valuation, overshadowing the performance of the legacy mass cytometry business.