Shares declined 5% as investors reacted negatively to cautious commentary on growth momentum and the outlook, despite new product launches. The market appears disappointed by signs of deceleration and lack of clear near-term revenue upside from the recently introduced Atara platform.

• Q1 revenue reached $151 million, up 9% year-over-year excluding a prior nonrecurring item.
• Single cell consumable volumes showed double-digit growth, driven by FLEX and FLEX Apex products.
• Spatial biology consumables also grew double digits, supported by Xenium; however, adoption remains early-stage.
• The new Atara instrument, touted as a major innovation enabling spatial whole transcriptome analysis at scale, is in early launch with promising initial feedback but no quantifiable contribution yet.
• Management emphasized the long-term potential of Atara but did not provide clear near-term guidance upside, suggesting cautious investor expectations on ramp and margins.