Hello, and welcome to the Standard BioTools Incorporated Second Quarter 2022 Financial Results Conference Call. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Peter DeNardo, Investor Relations. Thank you, Mr. DeNardo. You may begin.

Thank you, operator. Good afternoon, everyone. Welcome to Standard BioTools’ second quarter 2022 earnings conference call. At the close of the market today Standard BioTools released its financial results for the quarter ended June 30, 2022. During this call, we will review our results and provide commentary on our financial and operational performance, market trends and strategic initiatives. Presenting for Standard BioTools today will be Michael Egholm, PhD, Chief Executive Officer and President; and Vikram Jog, our Chief Financial Officer. During the call we will make forward-looking statements about events and circumstances that have not yet occurred, including trends and projections for our business, future financial results and market trends and opportunities. Examples include statements about expected financial performance, strategic initiatives, acquisition strategies, market trends, product releases, customer demand, collaborations and partnerships and revenue expectations. These statements are subject to substantial risks and uncertainties that may cause actual events or results to different materially from current expectations, information on these risks and uncertainties and other information affecting our business and operating results is contained in our annual report on form 10-K for the year ended December 31, 2021, as well as our other filings with the SEC. The forward-looking statements in this call are based on information currently available to us, and Standard BioTools disclaims any obligation to update these forward-looking statements, except as may be required by law. During the call, we will also present some financial information on a non-GAAP basis. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of the company's operating results as reported under U.S. GAAP. We encourage you to carefully consider our results under GAAP as well as our supplemental non-GAAP information and the reconciliation between these presentations. Reconciliations between GAAP and non-GAAP operating results are presented in a table accompanying our earnings release, which can be found in the Investors section of our website. Please note that management will be referring to a slide presentation including updated supplemental financial information within the webcast today. And this presentation is also posted on our website. I would also like to note that the company will not be hosting a Q&A Session following prepared remarks during today’s conference call. I will now turn the call over to Michael Egholm, our Chief Executive Officer and President. Michael?

Thank you, Peter. I would like to start by thanking everyone joining us today for the Standard BioTools second quarter 2022 earnings call. After four months with the company and into my second earnings call as President and CEO of Standard BioTools, I'm pleased to share my view on where the company is, the work we need to do, and the opportunity ahead. For those new to the Standard BioTools’ story, I will start with a brief overview of our company’s founding ambition. I will then transition to the phased restructuring announced earlier today and how these initial actions align with our previously disclosed strategic priorities. I'll conclude my portion of the call with a few words on our revitalized corporate structure and how we are embracing a process-oriented mindset with an attitude of continuous improvement to drive our organization forward. Following my prepared remarks, I will hand it over to Vikram Jog, Standard BioTools’ CFO, to go over our financial performance for the second quarter 2022. We are embarking on a long term value creation journey here at Standard BioTools that begins with focused execution as we align the business and our product portfolio to where the product is going and away from where it has already been. It begins today with 2022 serving as the floor and foundation that we, Standard BioTools, built upon to drive long-term value creation. The initial phase has not been easy involving many complex but necessary decisions. While we are still early in the process, I'm encouraged by our progress to date, turning our plans into execution. Our second quarter financial results are disappointing, yes. But I view those as representative of our past and not our future. There is a vast opportunity in front of us for growth, margin improvement and strategic…

Thanks Michael, and good afternoon everyone. As noted in our earnings release today, we are simplifying our product offerings and discontinuing our Laser Capture Microdissection or LCM and flow conductor products and de-emphasizing our diagnostics or COVID-19 activity. These changes negatively affected microfluidics revenue by $1.6 million and total product and service gross profit by $4.7 million and contributed $8.2 million to the GAAP operating loss for the second quarter of 2022. Let me now begin with the business review of revenue for the second quarter of 2022. Total revenue for the quarter was $18.8 million as compared to $31 million for Q2 2021. The stronger dollar reduced reported revenues by approximately 4%. Base product and service revenue, which excludes COVID-19 testing revenue and other revenue of $17.5 million was approximately 35% lower compared to $26.9 million in the year-ago period, primarily driven by lower instrument revenue. During the quarter we experienced continuing disruptions in our North America sales force, macro headwinds and related funding challenges in Europe and COVID related shutdowns in the Asia Pacific region. Mass cytometry product and service revenue of $10.1 million for the quarter was down from $16.6 million in the year-ago period. Base microfluidic product and service revenue which excludes COVID-19 testing revenue was $8.9 million, down from $10.2 million for the second quarter of 2021. Other revenue which includes product development, license and grant revenue for the second quarter of 2022 was approximately $750,000 or $1.1 million lower than the $1.8 million reported for the same period a year-ago primarily driven by the completion of certain development and grant agreements in 2021. For additional commentary on our revenue including geographic breakdown please refer to our second quarter Form 10-Q filing. Moving now to our operating performance; I will focus my comments primarily on…

Thank you, Vikram. This concludes our second quarter 2022 financial results call. We'd like to thank everyone for attending our call today. A replay of this call will be available on the investor's section of our website. Good afternoon, everyone.

This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.