Olink announces preliminary financial results for the second quarter 2021

Rhea-AI Summary

Olink Holding AB (Nasdaq: OLK) announced preliminary revenue of $17.3 to $17.7 million for Q2 2021, a significant increase compared to $7.9 million in Q2 2020. However, the expected net loss ranges from $(10.4) million to $(10.8) million, up from $(2.0) million in the same period last year. These results are subject to adjustment upon quarter-end closing. Olink plans to report full Q2 results on August 11, 2021, with a conference call scheduled for 8:00 a.m. E.T.

Positive

• Revenue expected between $17.3 million and $17.7 million, up from $7.9 million year-over-year.

Negative

• Net loss expected to be $(10.4) million to $(10.8) million, compared to $(2.0) million year-over-year.

UPPSALA, Sweden, July 12, 2021 (GLOBE NEWSWIRE) -- Olink Holding AB (publ) (“Olink”) (Nasdaq: OLK) today announced preliminary unaudited revenue and net income (loss) for the second quarter ended June 30, 2021.

Olink reported the following preliminary financial results for the second quarter 2021, which remain subject to quarter end closing adjustments:

• Revenue is expected to be between $17.3 million and $17.7 million, compared to $7.9 million for the corresponding quarter of last year.
• Net loss is expected to be between $(10.4) million and $(10.8) million, compared to $(2.0) million for the corresponding quarter of last year.

The financial results in this press release reflect expectations based on currently available information. The company has yet to complete its quarter end closing and actual results are therefore subject to change.

Webcast and conference call details

The company plans to report its full financial results for the second quarter of 2021 before the market open on Wednesday, August 11, 2021. Company management will host a conference call to discuss financial results at 8:00 a.m. E. T.

Investors interested in listening to the conference call may do so by dialing (833) 562-0120 for domestic callers or (661) 567-1096 for international callers, followed by Conference ID: 1764101. A live and archived webcast of the event will be available on the “Investors” section of the Olink website at investors.olink.com.

Use of forward-looking statements

This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our second quarter 2021 revenue and net income (loss) outlook.

In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under the captions "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Registration Statement on Form F-1 filed with the U.S. Securities and Exchange Commission and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

About Olink
Olink Holding AB (Nasdaq: OLK) is a company dedicated to accelerating proteomics together with the scientific community, across multiple disease areas to enable new discoveries and improve the lives of patients. Olink provides a platform of products and services which are deployed across major biopharmaceutical companies and leading clinical and academic institutions to deepen the understanding of real-time human biology and drive 21st century healthcare through actionable and impactful science. The company was founded in 2016 and is well established across Europe, North America and Asia. Olink is headquartered in Uppsala, Sweden.

For questions, please contact:
Investors and Media:
Olink Holding AB
Stina Thorman
stina.thorman@olink.com
+46707187354

FAQ

What are the preliminary revenue figures for Olink in Q2 2021?

Olink anticipates revenue between $17.3 million and $17.7 million for Q2 2021.

What is Olink's expected net loss for the second quarter of 2021?

Olink's expected net loss for Q2 2021 is between $(10.4) million and $(10.8) million.

When will Olink announce its full financial results for Q2 2021?

Olink plans to report its full financial results for Q2 2021 on August 11, 2021.

What was Olink's revenue in Q2 2020 for comparison?

Olink reported revenue of $7.9 million in Q2 2020.

What time is Olink's conference call regarding Q2 results?

Olink's conference call regarding Q2 results is scheduled for 8:00 a.m. E.T.