NEW YORK — IsoPlexis reported Wednesday morning that its Q4 2021 revenues were up 63 percent year over year.
For the three months ended Dec. 31, the Branford, Connecticut-based single-cell analysis company posted revenues of $5.5 million, up from $3.4 million in the year-ago period.
In October, IsoPlexis completed a $125 million initial public offering. The firm plans to use the proceeds for continued development and commercialization of its single-cell analysis platforms, which include its IsoLight, IsoSpark, and Duomics systems for the study of analytes including proteins, nucleic acids, and metabolites.
IsoPlexis' net loss during the quarter was $25.3 million, compared to $8.0 million in Q4 2020.
The company did not report a net loss per share figure or R&D and SG&A expenses for Q4 2021.
For full-year 2021, IsoPlexis reported revenue of $17.3 million, up 66 percent from $10.4 million in 2020. Product revenue was $16.2 million, up 74 percent from $9.3 million the year before. Service revenue was $1.1 million, even with 2020.
IsoPlexis' net loss for 2021 was $81.6 million, or $8.99 per share, compared to a net loss of $23.3 million, or $14.06 per share, in 2020.
R&D expenses for 2021 were $21.0 million, up 88 percent from $11.2 million in 2020. SG&A expenses were $64.1 million, up roughly threefold from $21.5 million the year before.
IsoPlexis ended the year with $126.6 million in cash.
The company said it expects 2022 revenues to be between $26 million and $27 million, representing growth of 51 percent to 56 percent over 2021.
In Wednesday morning trading on the Nasdaq, IsoPlexis shares were down about 1 percent to $4.43.