Benzinga | Jan 11, 2022 08:21AM EST

Fluidigm Sees Prelim. Q4 Sales $38M-$38.3M vs $32.8M Est., Sees Prelim. FY21 Sales $130.3M-$130.6M vs $125M Est.

Fourth quarter preliminary revenue of $38.0 to $38.3 million

Full year 2021 preliminary revenue of $130.3 to $130.6 million

Base product and service revenue growth of approximately 13% for fourth quarter and 12% for full year as new Biomark OEM and CyTOF XT instruments contributed to revenue

SOUTH SAN FRANCISCO, Calif., Jan. 11, 2022 (GLOBE NEWSWIRE) -- Fluidigm Corporation (NASDAQ:FLDM) today announced preliminary revenue for the fourth quarter and full year ended December 31, 2021, exceeding the company's guidance for those periods.

Fourth Quarter Revenue Highlights

* Fourth quarter 2021 total revenue of $38.0 to $38.3 million, exceeding the company's prior guidance range of $31--$34 million.

* Base product and service revenue (excluding COVID-19 testing revenue) of $35.1 to $35.4 million, or a year-over-year growth of approximately 13%--14%.

* Mass Cytometry product and service revenue of $21.0 to $21.2 million, or a year-over-year growth of approximately 8%--9%.

* Base Microfluidics product and service revenue of $14.1 to $14.2 million (excluding COVID-19 testing revenue of approximately $2.7 million), or a year-over-year growth of approximately 22%.

Full Year Revenue Highlights

* Full year 2021 total revenue of $130.3 to $130.6 million, exceeding the company's prior guidance range of $123--$127 million.

* Base product and service revenue (excluding COVID-19 testing revenue) of $111.9 to $112.2 million, or a year-over-year growth of approximately 12%.

* Mass Cytometry product and service revenue of $67.5 to $67.7 million, or a year-over-year growth of approximately 9%.

* Base Microfluidics product and service revenue of $44.4 to $44.5 million (excluding COVID-19 testing revenue of approximately $14.1 million), or a year-over-year growth of approximately 17%.

* New instrument platforms launched in 2021, including CyTOF(r) XT, contributed approximately $10 million to base product and service revenue.

"Core demand for our products remained healthy during the quarter. Supply chain issues were partially resolved, and we were able to meet a significant portion of this demand," said Chris Linthwaite, President and CEO. "We remain focused on managing our global supply chain, and we are encouraged by customer adoption of our new products and overall growth in our base business."

These financial results are preliminary and subject to completion of Fluidigm(r) financial statements for the quarter and fiscal year ended December 31, 2021, and the audit of those financial statements by the company's independent registered public accounting firm. The company plans to report financial results for the period ended December 31, 2021, in February 2022.