Akoya Biosciences, Inc. reported its financial results for the third quarter ending September 30, 2024, on November 14, 2024, with total revenue of US$18.8 million, representing a 25% decrease from the third quarter of the prior year. The company announced a net loss of $10.5 million, or $0.21 per share, with an adjusted loss of $0.18 per share.
Management attributed the results to ongoing capital equipment purchase constraints observed across the life science tools market, indicating persistent macroeconomic challenges. In response to these pressures, Akoya had undertaken organizational restructuring to enhance its readiness to absorb headwinds.
The company updated its full-year 2024 revenue guidance to a range of $80 million to $85 million, a significant reduction from its prior range of $96 million to $104 million. Additionally, Akoya announced it is actively evaluating a range of strategic alternatives to identify the best path forward for sustainable growth, profitability, and long-term success.
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