BLI Stock: Why It Increased Today

By Amit Chowdhry ● Oct 12, 2021
  • The stock price of Berkeley Lights Inc (NASDAQ: BLI) increased by over 13% today. This is why it happened.

The stock price of Berkeley Lights Inc (NASDAQ: BLI) – a leader in digital cell biology – increased by over 14% during intraday trading. Investors are responding positively to Berkeley Lights reporting preliminary unaudited revenue for the quarter ended September 30, 2021.

The company’s total revenue and platform placements in the third quarter of 2021 was the largest in its history. And the total revenue for the third quarter is expected to be in the range of $24.0 million to $24.3 million, representing an increase of approximately 33% compared to $18.2 million in revenue for the third quarter of 2020.

The results include 13 new platform placements in the quarter, inclusive of three TechAccess subscriptions booked and announced in the second quarter. And six of the placements were to existing customers expanding their capacity of Berkeley Light’s platforms.

The preliminary results are based on management’s initial analysis of operations for the quarter ended September 30, 2021. And the company expects to issue full financial results for the third quarter 2021 on Thursday, November 4, 2021, to be followed by its quarterly conference call at 5:30 AM Pacific Time / 8:30 AM Eastern Time that day.

KEY QUOTE:

“Our results this quarter are a testament to the value and broad applicability of the Berkeley Lights platform across multiple disciplines. Berkeley Lights’ technology provides unprecedented functional information at scale. Our new and existing customers are increasingly choosing the Berkeley Lights’ platform both for the quality of the data extracted from our platform and the efficiencies that it can help them achieve. With increasing demand for our technology across large, global markets, we look forward to building on our momentum to drive significant value for our customers and shareholders.”

— Berkeley Lights Chief Executive Officer Eric Hobbs, Ph.D.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.