Berkeley Lights Announces Preliminary Revenue Results for 2022

Berkeley Lights Launches Beacon Select™, A New Optofluidic System for Cell Line Development

EMRYVILLE, California, January 9, 2023 /PRNewswire/ — Berkeley Lights, Inc. (Nasdaq: BLI), a life sciences instruments firm, introduced preliminary unaudited income outcomes for the complete yr ended right now. 31 December 2022. Whole income for the complete yr 2022 is anticipated to be within the following vary: $78.0 million with $78.5 millionin comparison with $85.4 million in 2021.

Outcomes had been decrease than anticipated as a consequence of delays in a number of Beacon® platform deployments at the moment anticipated in 2023 and decrease income from partnership and repair contracts. Within the fourth quarter of 2022, we noticed a tightening macroeconomic atmosphere just like what our business is speaking with, with prolonged gross sales cycles and tight capital budgets. The corporate continues to implement its strategic plan, introduced on the second quarter 2022 earnings convention name, by launching application-specific and educational Beacon platforms in 2023 and transitioning from low-margin partnership and repair contracts.

“Now we have made vital progress over the previous few months, laying a powerful basis for the distinctive alternatives forward by means of the implementation of our strategic plan,” mentioned Siddhartha Kadia, CEO of Berkeley Lights. “Whereas our income this quarter has been impacted by the timing of sure Beacon platform deployments and ongoing initiatives to reshape our enterprise mannequin, together with our current announcement, we stay targeted on our transformation right into a rising, worthwhile and sustainable life sciences firm. Wanting forward, management Our workforce is dedicated and targeted on bringing collectively Berkeley Lights and IsoPlexis right into a world-class purposeful cell biology firm, diversifying our expertise choices with the launch of lower-cost platforms in 2023, and producing the next recurring income combine and optimistic enterprise by 2024. to get money circulate.”

These preliminary outcomes are primarily based on administration’s preliminary evaluation of operations for the quarter ended. 31 December 2022. The corporate expects to launch full-year monetary outcomes for 2022 in late February.

JP Morgan Healthcare Convention Attendance

Berkeley will attend Lights 41st Annual JP Morgan Healthcare Convention Thursday, January 12, 2023Westin St. on the Francis Resort San Francisco, California Siddhartha Kadia, CEO of Berkeley Lights, Ph.D. 11:15 PT.

A stay webcast of the presentation might be out there on-line on the Investor Relations web page on the Firm’s web site. The replay of the presentation will stay on the web site for 30 days after the present stay webcast.

About Berkeley Lights

Berkeley Lights is a life science instruments firm targeted on enabling and accelerating the speedy growth and commercialization of biotherapeutics and different cell-based merchandise for our clients. The Berkeley Lights Platform captures deep phenotypic, purposeful, and genotypic data for hundreds of single cells in parallel, whereas additionally delivering the dwelling biology clients want within the type of the very best cells. Our platform is a totally built-in, end-to-end resolution of proprietary consumables, together with our OptoSelect® chips and reagent kits, superior automation methods and software software program. We developed the Berkeley Lights Platform to offer probably the most superior atmosphere for speedy purposeful characterization of single cells at scale, with the purpose of creating an business commonplace for our clients all through the cell-based product worth chain.

forward-looking statements

Monetary outcomes introduced on this press launch are preliminary, estimated and unaudited. They’re topic to completion and conclusion of Berkeley Lights’ monetary and accounting closing procedures. These replicate administration’s estimates primarily based solely on data out there to administration as of the date of this press launch. Extra data realized throughout this completion and conclusion could change the ultimate outcomes. As well as, preliminary estimates don’t substitute full quarterly and annual monetary statements ready in accordance with GAAP. There’s a risk that Berkeley Lights’ monetary outcomes finish within the quarter. 31 December 2022and full-year monetary outcomes for 2022 could differ materially from these preliminary estimates. Along with the completion of monetary shut, elements that would trigger precise outcomes to vary from these described above are set out beneath. Accordingly, you shouldn’t rely unduly on this preliminary data.

Further details about the Firm’s fourth quarter monetary outcomes for 2022 and full-year monetary outcomes for 2022 might be discovered on the Firm’s Kind 10-Ok, which might be submitted to the U.S. Securities and Change Fee (“SEC”).

This press launch accommodates “forward-looking statements” inside the which means of the Non-public Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are primarily based on the Firm’s beliefs and assumptions and data out there on the date of this press launch. Ahead-looking statements could embody recognized and unknown dangers, uncertainties, and different elements that would trigger the Firm’s precise outcomes, efficiency or achievements to vary materially from these expressed or implied in forward-looking statements, together with, however not restricted to: the timing and pricing and profitability of future services. together with our preliminary income outcomes and future gross sales prospects; our present partnership and repair agreements and prospects for the growth of our product and repair choices; our proposed IsoPlexis buy and the related advantages anticipated from it; development, money circulate and profitability targets we comply with. Our expectations and different issues mentioned in such forward-looking statements could not bear fruit for quite a few causes. Key elements that would trigger precise outcomes to vary materially from these projected in forward-looking statements embody: the chance that the proposed transaction with IsoPlexis might not be accomplished on time or in any respect, and pending transactions associated to varied facets of our ongoing enterprise, together with workers, distributors, clients and suppliers; the likelihood that the anticipated synergies and working efficiencies related to the proposed transaction is not going to be achieved inside the anticipated timeframes or in any respect; The danger that the combination of IsoPlexis operations into Berkeley Lights operations might be tougher, time-consuming or expensive than anticipated; the likelihood that the events’ expectations relating to expenditure, money use, and money wants might not be right as a consequence of adjustments in plans or precise occasions being completely different from the assumptions; the consequences of adjustments basically financial and enterprise circumstances, together with adjustments in monetary markets; potential difficulties in implementing strategic plans for merchandise and applied sciences and difficulties in creating, manufacturing, launching, advertising and promoting present and new merchandise; uncertainties in contractual relationships, together with interruptions or delays within the provide of elements or supplies of merchandise or within the manufacture of merchandise; Berkeley Lights and IsoPlexis’ filings with the SEC, together with Annual Reviews of Berkeley Lights and IsoPlexis on Kind 10-Ok, Quarterly Reviews on Kind 10-Q, and Present Reviews on Kind 8-Ok all different dangers mentioned in every of its filings. Besides as required by regulation, the Firm undertakes no obligation to replace such statements to replicate occasions or present circumstances after the date they had been made.

Contributors within the supply

Berkeley Lights, IsoPlexis and its respective administrators, enforcement officers and different members of administration and workers could also be thought-about as individuals in solicitation of attorneys in reference to the proposed transaction between Berkeley Lights and IsoPlexis, pursuant to SEC guidelines. Info on Berkeley Lights’ administrators and senior executives is ready forth in Berkeley Lights’ Proxy for Schedule 14A for the 2022 Annual Shareholders Assembly submitted to the SEC in 2022. April 15, 2022and a few of Berkeley Lights’ Present Reviews on Kind 8-Ok. To the extent that Berkeley Lights’ administrators and senior executives have held securities of Berkeley Lights for the reason that quantities set forth in that energy of legal professional, such adjustments have been or might be mirrored in subsequent usufruct statements filed with the SEC. Info relating to IsoPlexis’ administrators and govt officers is ready forth in IsoPlexis’ revised Lawyer Assertion for the 2022 Annual Shareholders Assembly in Schedule 14A. 29 April 2022and a few of IsoPlexis’ Present Reviews on Kind 8-Ok. To the extent that IsoPlexis’ administrators and senior executives’ possession of IsoPlexis securities has modified for the reason that quantities set forth in that energy of legal professional, these adjustments have been or might be mirrored in subsequent usufruct statements submitted to the SEC. These paperwork might be obtained freed from cost from the sources listed beneath. Further data relating to the pursuits of those individuals might be specified, when out there, within the joint energy of legal professional/prospectus for the proposed transaction.

Further Info and The place to Discover It

In reference to the proposed transaction between Berkeley Lights and IsoPlexis, Berkeley Lights and IsoPlexis intend to submit related supplies to the SEC, together with a Berkeley Lights registration assertion on Kind S-4, which is able to embody a joint energy of legal professional assertion from Berkeley Lights and IsoPlexis. Creates a prospectus of Berkeley Lights. INVESTORS AND SECURITIES OWNERS ARE REQUESTED TO READ THE JOINT ATTORNEY STATEMENT/PROSPECTIVE AND OTHER RELATED DOCUMENTS GIVEN TO SEC WHEN AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT BERKLEY LIGHTS, ISOPLEXIS AND RECOMMENDED PROCEDURE. The joint energy of legal professional/prospectus and different paperwork pertaining to the proposed motion (the place out there) can be found freed from cost from the SEC’s web site at: These paperwork (when out there) are freely out there from Berkeley Lights’ investor relations web site at: or from IsoPlexis’ investor relations web site:

No Supply or Request

This communication just isn’t meant and shall not represent a proposal to purchase or promote any securities or to solicit the acquisition or sale of such a proposal, and there might be no supply, solicitation or sale of securities in any jurisdiction by which such supply exists. solicitation or sale shall be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction. No supply of securities might be made apart from a prospectus that meets the necessities of the amended Part 10 of the Securities Act of 1933.

SOURCE Berkeley Lights, Inc.

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