Akoya Biosciences Issues Preliminary Revenue Results; Issues 2024 Guidance

(RTTNews) - Akoya Biosciences, Inc. (AKYA) said it expects fourth quarter revenue to be between $25.5 million and $26.5 million, as compared to $21.2 million a year ago. For fiscal 2023, the company expects revenue to be between $95.6 million and $96.6 million, as compared to $74.9 million, last year. Year end 2023 projected cash, cash equivalents, and restricted cash balance is between $83.0 million and $85.0 million.

Brian McKelligon, CEO, Akoya Biosciences, said: "Throughout 2023, we delivered strong financial performance on the topline while maintaining operating expenses at a steady level, bolstering our confidence in achieving cash flow positivity earlier than previously projected."

Akoya Biosciences expects 2024 revenue to grow more than 20% and projects achieving operating cash flow breakeven by year end 2024.

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