FREMONT, Calif., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Alamar Biosciences, Inc. (Nasdaq: ALMR), a leader in precision proteomics dedicated to enabling the earliest detection of disease, today reported financial results for the quarter ended June 30, 2026.
Recent Highlights
- Generated $29.4 million of total revenue for the second quarter of 2026, an increase of 82% as compared to the corresponding period of 2025
- Launched the first commercial multiplexed blood-based immunoassay for eMTBR-tau, available in our NULISAseq™ Neuro 220 Panel and through our Technology Access Program, enabling scalable, non-invasive measurement of tau tangle burden
- Expanded strategic partnership with the Alzheimer's Disease Data Initiative and Gates Ventures to deliver a combined dataset of more than 140,000 samples
- Launched the NULISAseq™ Immune 340 Panel, our broadest multiplexed immune profiling solution for translational research and drug development
- Providing full-year 2026 revenue guidance of $116 million to $120 million, representing growth of 59% at the midpoint of the range as compared to 2025
"We delivered a strong second quarter with consumable revenue growing nearly 150% year-over-year," said Yuling Luo, PhD, founder, CEO, and chair of Alamar Biosciences. "With the recent launches of eMTBR-tau and the Immune 340 Panel strengthening our content menu and extending into new disease areas, we believe we are well-positioned to sustain momentum into the coming quarters."
Second Quarter 2026 Financial Results
Revenue was $29.4 million for the second quarter of 2026, an 82% increase from $16.2 million for the corresponding prior-year period. Instrument revenue grew 35% to $7.8 million, from $5.8 million for the corresponding prior-year period, driven primarily by continued growth in new instrument placements. Consumable revenue grew 147% to $15.5 million, from $6.3 million for the corresponding prior-year period, driven primarily by strong demand for multiplex panels. Services and other revenue grew 49% to $6.2 million, from $4.1 million for the corresponding prior-year period.
Gross margin was 60% for the second quarter of 2026, as compared to 53% for the corresponding prior-year period. The increase in gross margin was primarily driven by manufacturing efficiencies for consumables and a favorable shift in mix toward high-margin consumables.
Operating expenses were $31.2 million for the second quarter of 2026, an 89% increase from $16.5 million for the corresponding prior-year period. The year-over-year increase in operating expenses was primarily related to planned investments in headcount, infrastructure and R&D capabilities as well as incremental public company costs.
Operating loss was $13.5 million for the second quarter of 2026, as compared to an operating loss of $7.9 million for the corresponding prior-year period. This includes $3.3 million of stock-based compensation for the second quarter of 2026, as compared to $0.7 million for the second quarter of 2025.
Net loss was $13.2 million for the second quarter of 2026 and higher than the $7.0 million net loss in the corresponding prior-year period.
Cash, cash equivalents, short-term investments and restricted cash were $256.3 million as of June 30, 2026.
2026 Guidance
Alamar Biosciences expects full year 2026 revenue to be in the range of $116 million to $120 million, representing growth of 59% at the midpoint of the range compared to full year 2025.
Webcast Information
Alamar Biosciences will host a conference call to discuss the second quarter 2026 financial results after market close on Monday, August 10, 2026 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at https://investors.alamarbio.com/.
About Alamar Biosciences, Inc.
Alamar is a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Leveraging our proprietary NULISA™ technology and the ARGO™ HT System, our platform is designed to detect protein biomarkers at extremely low concentrations in blood with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation. We refer to this combination of features as “Precision Proteomics,” and believe it fills a critical gap in the field of advanced proteomics, helping researchers unlock the full spectrum of protein biomarkers across disease states. Learn more at alamarbio.com.
Forward Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "intends," "may," "plans," "possible," "potential," "seeks," "will" and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding Alamar Biosciences’ estimates for the full year 2026, its financial outlook, future plans and prospects, its ability to accelerate adoption of its platform and establish a new gold standard in protein detection and analysis, its anticipated sustained momentum in revenue growth from the recent launches of eMTBR-tau and the Immune 340 Panel, and Alamar Biosciences’ ability to grow its business. Any forward-looking statements in this press release are based on Alamar Biosciences’ current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results could differ materially from those expressed or implied in Alamar Biosciences’ forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to intense competition in the proteomics market, exposure to legal proceedings, regulatory inquiries and other legal matters, failure to develop new assays or instruments, dependence on researchers who rely heavily on government funding, reductions in spending by research and academic institutions, the potential for products to be subject to more onerous regulation by the FDA or other regulatory requirements, the complexity of manufacturing Alamar Biosciences’ instruments and consumables, failure to obtain marketing authorizations for future products that are intended for clinical or diagnostic use, Alamar Biosciences’ ability to protect its intellectual property and other risks and uncertainties described in Alamar Biosciences’ filings with the Securities and Exchange Commission (SEC), including those described from time to time under the caption “Risk Factors” and elsewhere in Alamar Biosciences’ filings with the SEC, including its Quarterly Report on Form 10-Q filed with the SEC on May 8, 2026. Alamar Biosciences explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Investor contact:
investors@alamarbio.com
Media contact:
media@alamarbio.com
| Alamar Biosciences, Inc. Condensed Consolidated Statements of Operations (Unaudited, in thousands, except share and per share data) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue: | |||||||||||||||
| Product revenue | $ | 23,269 | $ | 12,040 | $ | 44,610 | $ | 21,209 | |||||||
| Service and other revenue | 6,158 | 4,122 | 10,852 | 8,044 | |||||||||||
| Total revenue(1) | 29,427 | 16,162 | 55,462 | 29,253 | |||||||||||
| Cost of revenue: | |||||||||||||||
| Cost of product revenue(2) | 9,858 | 6,489 | 19,668 | 11,860 | |||||||||||
| Cost of service and other revenue(2) | 1,851 | 1,092 | 3,619 | 2,423 | |||||||||||
| Total cost of revenue | 11,709 | 7,581 | 23,287 | 14,283 | |||||||||||
| Gross profit | 17,718 | 8,581 | 32,175 | 14,970 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development(2) | 13,817 | 8,895 | 26,834 | 17,197 | |||||||||||
| Selling, general and administrative(2) | 17,433 | 7,605 | 31,220 | 14,245 | |||||||||||
| Total operating expenses | 31,250 | 16,500 | 58,054 | 31,442 | |||||||||||
| Loss from operations | (13,532 | ) | (7,919 | ) | (25,879 | ) | (16,472 | ) | |||||||
| Interest income, net | 1,875 | 630 | 2,414 | 1,416 | |||||||||||
| Interest expense | (224 | ) | (48 | ) | (447 | ) | (94 | ) | |||||||
| Loss on remeasurement of convertible notes | (1,377 | ) | — | (9,971 | ) | — | |||||||||
| Other (expense) income, net | (34 | ) | 314 | (270 | ) | 468 | |||||||||
| Net loss before income tax | (13,292 | ) | (7,023 | ) | (34,153 | ) | (14,682 | ) | |||||||
| Provision for (benefit from) income taxes | (93 | ) | — | 371 | — | ||||||||||
| Net loss | $ | (13,199 | ) | $ | (7,023 | ) | $ | (34,524 | ) | $ | (14,682 | ) | |||
| Net loss per share, basic and diluted | $ | (0.22 | ) | $ | (0.62 | ) | $ | (0.97 | ) | $ | (1.30 | ) | |||
| Weighted-average common shares outstanding, basic and diluted | 58,665,055 | 11,409,556 | 35,589,492 | 11,334,630 | |||||||||||
(1) The following table represents revenue by source for the periods indicated:
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Instruments | $ | 7,788 | $ | 5,773 | $ | 15,169 | $ | 9,919 | ||||||||
| Consumables | 15,481 | 6,267 | 29,441 | 11,290 | ||||||||||||
| Services | 6,158 | 4,122 | 10,852 | 7,794 | ||||||||||||
| Other revenue | — | — | — | 250 | ||||||||||||
| Total | $ | 29,427 | $ | 16,162 | $ | 55,462 | $ | 29,253 | ||||||||
(2) Includes stock-based compensation expense as follows:
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Cost of product revenue | $ | 45 | $ | 7 | $ | 59 | $ | 15 | ||||||||
| Cost of service and other revenue | 58 | 12 | 80 | 25 | ||||||||||||
| Research and development | 838 | 262 | 1,230 | 491 | ||||||||||||
| Selling, general and administrative | 2,339 | 399 | 3,378 | 768 | ||||||||||||
| Total stock-based compensation expense | $ | 3,280 | $ | 680 | $ | 4,747 | $ | 1,299 | ||||||||
| Alamar Biosciences, Inc. Condensed Consolidated Balance Sheets (Unaudited, in thousands) | |||||||
| June 30, 2026 | December 31, 2025 | ||||||
| ASSETS | |||||||
| Current Assets | |||||||
| Cash and cash equivalents | $ | 132,969 | $ | 30,002 | |||
| Short-term investments | 117,083 | — | |||||
| Accounts receivable | 20,344 | 12,753 | |||||
| Inventory | 45,409 | 38,482 | |||||
| Prepaid expenses and other current assets | 15,577 | 13,468 | |||||
| Total current assets | 331,382 | 94,705 | |||||
| Restricted cash | 6,254 | 4,907 | |||||
| Property and equipment, net | 13,358 | 10,498 | |||||
| Operating lease right-of-use assets | 35,798 | 26,130 | |||||
| Capitalized software, net | 1,605 | 1,988 | |||||
| Other assets—noncurrent | 2,578 | 1,764 | |||||
| Total assets | $ | 390,975 | $ | 139,992 | |||
| LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) | |||||||
| Current Liabilities | |||||||
| Accounts payable | $ | 13,790 | $ | 5,872 | |||
| Accrued and other current liabilities | 11,893 | 15,759 | |||||
| Short-term operating lease liabilities | 2,277 | 2,099 | |||||
| Total current liabilities | 27,960 | 23,730 | |||||
| Long-term operating lease liabilities | 39,182 | 29,564 | |||||
| Warrant liabilities | — | 247 | |||||
| Term debt | 9,947 | 9,810 | |||||
| Other noncurrent liabilities | 1,029 | 599 | |||||
| Total liabilities | 78,118 | 63,950 | |||||
| Convertible preferred stock | — | 234,996 | |||||
| Stockholders’ equity (deficit) | |||||||
| Founders preferred stock | — | — | |||||
| Common stock | 7 | 1 | |||||
| Additional paid-in capital | 516,288 | 9,892 | |||||
| Accumulated other comprehensive loss | (139 | ) | (72 | ) | |||
| Accumulated deficit | (203,299 | ) | (168,775 | ) | |||
| Total stockholders’ equity (deficit) | 312,857 | (158,954 | ) | ||||
| Total liabilities, convertible preferred stock and stockholders' equity (deficit) | $ | 390,975 | $ | 139,992 | |||
