Achieved record fourth quarter revenue of $11.3 million, representing 37% year-over-year growth and the 13th consecutive quarter of meeting or exceeding expectations.

Performance was driven by a record 16 system placements in Q4, including a major global rollout with Amgen across North America, Europe, and Asia.

Samsung Biologics is expanding its Growth Direct deployment with a new multisystem order in Q1 2026, validating the platform's role in next-generation manufacturing.

Consumable revenue grew 17% for the full year, serving as a key indicator of active system utilization and realized ROI within the installed base.

Total gross margin has improved by over 50 percentage points over the last three years, supported by ongoing manufacturing efficiencies and service productivity.

The MilliporeSigma partnership is entering its second year with established demo labs in Europe and Asia to accelerate the global sales funnel.

Market tailwinds include increased regulatory focus on data integrity, pharmaceutical onshoring in the U.S., and the adoption of full automation in quality control.

Initiated 2026 revenue guidance of $37 million to $41 million, assuming 30 to 38 system placements with a heavy weighting toward the second half of the year.

Expect to achieve approximately 20% full-year gross margin, with performance accelerating to a mid-20% exit rate by Q4 2026.

Guidance assumes meaningful contributions from MilliporeSigma, though the low end accounts for potential timing shifts of their 2-system commitment into early 2027.

Planned launch of a next-generation cloud-native software platform in the second half of 2026 to leverage 15 years of AI-driven microbial growth detection data.

Anticipate completing at least 25 system validations in 2026, which will drive higher-margin service revenue in the latter half of the year.

Q4 product margins were impacted by a $1.1 million write-off of unusable consumable inventory; management stated the underlying issue has been resolved.

Service margins experienced temporary compression due to lower validation volumes in Q4 compared to a record-setting prior year period.

Locked-in contractual agreements for material cost reductions are expected to turn consumable gross margins positive in the second half of 2026.

The company maintains $39 million in cash and $25 million in unused debt capacity to fund strategic growth through 2026.

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Management attributed the widening gap to natural lags in customer site readiness and the sequencing of large multisystem orders like Amgen's.

Expect the variance to tighten as the current validation backlog is worked through during 2026.

CDMOs like Samsung and Lonza are a significant portion of the business, valuing the platform's ability to accelerate production line turnover.

The value proposition is equally strong for both segments, particularly in advanced modalities like biologics and cell and gene therapy.

Confidence stems from locked-in material cost reductions for consumables and expected leverage from higher service revenue volumes.

Product margins are projected to reach the high single digits to low teens for the full year as manufacturing efficiencies scale.

The platform will initially offer improved UI and easier IT integration, with future phases focusing on AI-driven predictive analytics and global data insights.

Management sees an 'open door' in the pharmaceutical industry for cloud and AI services that enhance global quality and manufacturing operations.

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