Olink Reports Q4 Loss Despite 60% Jump In Sales; Issues FY22 Guidance


Olink Holding AB OLK reported Q4 FY21 revenue of $43.7 million, +61% Y/Y on a reported basis and 45% on a constant currency adjusted like-for-like basis, benefitting from the rapid adoption of new products and strong growth across major geographic regions.

  • Kits revenue grew 83% to $15.3 million. Analysis services revenue was $23.7 million, +37%.
  • Cumulative Explore customer installations reached 25 at the end of 2021, compared to 21 at the third quarter.
  • Achieved 28 Signature Q100 placements during the fourth quarter.
  • Explore revenue of $30.1 million accounted for 69% of Q4 revenue, with Explore Kit revenue totaling $12.0 million.
  • Adjusted gross profit was $26.5 million compared to $19.6 million in Q4 2020.
  • Adjusted EBITDA was $(1.4) million for Q4 FY21 compared to $10.8 million a year ago.
  • The company posted net EPS loss of $(0.07) versus the income of $0.13 last year.
  • Guidance: Olink expects FY22 revenue of $138 million - $145 million, growing 45% - 53%.
  • The company plans continued substantial investment and remains sufficiently capitalized for executing its existing strategic plan.
  • Price Action: OLK shares are down 5.39% at $18.26 on the last check Monday.
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