STANDARD BIOTOOLS Business Summary

Standard BioTools Inc. (LAB) operates a life sciences tools business model centered on the sale of proprietary analytical instruments, high-margin consumables, and recurring service contracts. The company’s revenue is primarily generated through two segments: Proteomics, featuring its CyTOF mass cytometry and Hyperion imaging systems for high-plex single-cell analysis, and Genomics, which utilizes microfluidics-based integrated fluidic circuits (IFCs) for high-throughput qPCR and library preparation. In January 2026, the company completed a transformative $425 million divestiture of its SomaLogic business to Illumina, a strategic move that streamlined operations toward its core "best-in-class" instrumentation and bolstered its balance sheet with approximately $550 million in cash to fuel inorganic growth. Standard BioTools competes directly with 10x Genomics, Cytek Biosciences, and Quanterix, positioning itself as a specialized provider of high-plex multi-omics insights that offer deeper spatial and proteomic resolution than traditional genomic sequencing platforms. The company was founded in 1999 as Fluidigm by Gajus Worthington and Dr. Stephen Quake, pioneering the commercialization of microfluidic technology from Caltech and Stanford. The current leadership team is led by President and CEO Michael Egholm, PhD, who brings an elite technical pedigree as the former CTO of Danaher Life Sciences and 454 Life Sciences. The executive suite includes CFO Alex Kim, who previously served as COO and led Milliken’s Healthcare Division, Chief Business Officer Sean Mackay, the founding CEO of IsoPlexis, and Chief Commercial Officer Mike Musgnug, formerly CEO of GrapheneDx. Standard BioTools is backed by a concentrated group of institutional investors, most notably Casdin Capital and Viking Global Investors, with Eli Casdin and Chairman Thomas Carey (former SomaLogic Chairman) overseeing the company’s strategic pivot toward profitability and disciplined M&A.