Shares declined 2.8% after the Q2 report, reflecting investor caution despite steady revenue growth, with margin pressures and weakness in EMEA likely weighing on sentiment.
- Q2 revenue grew 6% year-over-year to $48.1 million, driven by double-digit growth in U.S. and China markets.
- U.S. revenue increased 18% to $28.2 million, supported by gains in academic and government sectors and service business.
- EMEA revenue declined approximately 8% year-over-year, impacted by ongoing regional budgetary constraints.
- Total APAC revenue was flat, with strong growth in China offset by softness elsewhere in the region.
- Recurring revenue from reagents and services rose 8% to $18.5 million, now 35% of trailing twelve-month revenue, up from 32% a year ago.
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