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BLI Berkeley Lights

Berkeley Lights is a leading Digital Cell Biology company focused on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products for its customers. The Berkeley Lights Platform captures deep phenotypic, functional, and genotypic information for thousands of single cells in parallel and can also deliver the live biology customers desire in the form of the best cells. Berkeley Lights' platform is a fully integrated, end-to-end solution, comprising proprietary consumables, including its OptoSelect chips and reagent kits, advanced automation systems, and application software. Berkeley Lights developed the Berkeley Lights Platform to provide the most advanced environment for rapid functional characterization of single cells at scale, the goal of which is to establish an industry standard for our customers throughout their cell-based product value chain.

Company profile

Ticker
BLI
Exchange
CEO
Eric Hobbs
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
BLI Europe International, Ltd. • BLI International LLC • (Shanghai) Co., Ltd. ...
IRS number
352415390

BLI stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Nov 21
2 Dec 21
31 Dec 21
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 197.27M 197.27M 197.27M 197.27M 197.27M 197.27M
Cash burn (monthly) 6.03M 3.35M 6.78M 5.5M 200K 1.1M
Cash used (since last report) 12.58M 7M 14.16M 11.48M 417.46K 2.29M
Cash remaining 184.69M 190.27M 183.11M 185.79M 196.85M 194.98M
Runway (months of cash) 30.7 56.8 27.0 33.8 984.3 177.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 Nov 21 Michael J Moritz Common Stock Other Acquire J Yes No 0 19,726 0 155,097
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 110,780 0 110,782
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 61,326 0 61,325
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 16,804 0 16,805
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 6,036 0 6,035
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 279,214 0 279,214
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 47,431 0 47,432
23 Nov 21 Michael J Moritz Common Stock Other Dispose J Yes No 0 755,670 0 755,670
22 Nov 21 Kurt Wood Common Stock Payment of exercise Dispose F No No 23.72 59 1.4K 54,157
22 Nov 21 Merkadeau Stuart L Common Stock Payment of exercise Dispose F No No 23.72 162 3.84K 159,900

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 135 155 -12.9%
Opened positions 30 35 -14.3%
Closed positions 50 36 +38.9%
Increased positions 61 65 -6.2%
Reduced positions 22 36 -38.9%
13F shares
Current Prev Q Change
Total value 912.52M 1.86B -50.8%
Total shares 55.94M 50.69M +10.4%
Total puts 320.3K 146.1K +119.2%
Total calls 429.3K 186.1K +130.7%
Total put/call ratio 0.7 0.8 -5.0%
Largest owners
Shares Value Change
Igor Y Khandros 9.28M $0 0.0%
ARK Investment Management 8.5M $166.32M +23.2%
Vanguard 4.12M $80.68M +12.6%
BLK Blackrock 3.71M $72.54M +9.6%
Baillie Gifford & Co 2.94M $57.43M +31.5%
SC Us (TTGP) 2.33M $45.63M -33.3%
MKFCF Mackenzie Financial 2.27M $44.46M +316.2%
FMR 1.99M $38.83M +193.0%
IVZ Invesco 1.48M $28.93M +126.3%
JPM JPMorgan Chase & Co. 1.43M $27.94M +11.8%
Largest transactions
Shares Bought/sold Change
Fred Alger Management 0 -3.06M EXIT
MKFCF Mackenzie Financial 2.27M +1.73M +316.2%
ARK Investment Management 8.5M +1.6M +23.2%
WFC Wells Fargo & Co. 52.1K -1.41M -96.4%
FMR 1.99M +1.31M +193.0%
SC Us (TTGP) 2.33M -1.17M -33.3%
Two Sigma Advisers 1.18M +1.01M +588.4%
IVZ Invesco 1.48M +825.35K +126.3%
Capital International Investors 124.83K -798.26K -86.5%
Two Sigma Investments 1.15M +792.78K +221.7%

Financial report summary

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Competition
DanaherPCTAbCellera Biologics
Risks
  • Risks related to our business and strategy
  • Our success depends on the success of our Berkeley Lights Platform and market acceptance of Digital Cell Biology. Our Berkeley Lights Platform and Digital Cell Biology may not achieve or maintain significant commercial market acceptance.
  • Historically, our revenue has been primarily generated from direct platform sales, largely driven by Beacon, which requires a substantial sales cycle and is prone to quarterly fluctuations in revenue.
  • It may be difficult for us to implement our strategies for improving growth.
  • We may not successfully implement our strategy to provide customers access to our platform and Digital Cell Biology through alternative non-direct capital sales channels, including our subscription, partnering and services offerings.
  • Our revenue under our customer sales engagements, program agreements and strategic partnerships for any particular period can be difficult to forecast.
  • If we cannot maintain our current relationships with customers, fail to sustain recurring sources of revenue with our existing customers, or if we fail to enter into new relationships, our future operating results would be adversely affected as a general matter.
  • Our operating results have fluctuated significantly in the past and may fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations.
  • Our limited operating history and rapid revenue growth make it difficult to evaluate our future prospects and the risks and challenges we may encounter.
  • New product and workflow development involves a lengthy and complex process and we may be unable to develop or commercialize products and workflows on a timely basis, or at all.
  • The Berkeley Lights Platform is comprised of OptoSelect chips and reagent kits, advanced automation systems and advanced application and workflow software, which may contain undetected errors or defects and may not meet the expectations of our customers, which means our business, financial condition, results of operations and prospects could suffer.
  • Repair or replacement costs due to warranties we provide on our products and consumables could have a material adverse effect on our business, financial condition and results of operations.
  • We generally recognize revenue from extended warranty and service contracts over the contract term, and changes in sales of such contracts may not be immediately reflected in our operating results.
  • If we were to be sued for product liability, we could face substantial liabilities that exceed our resources.
  • Our business, financial condition, results of operations and prospects may be harmed if our customers discontinue or spend less on research, development and production and other scientific endeavors.
  • If we are unable to support demand for the Berkeley Lights Platform, and for our future product offerings, including ensuring that we have adequate capacity to meet increased demand, or if we are unable to successfully manage our anticipated growth, our business could suffer.
  • We will need to raise additional capital to fund our existing operations, improve our platform or develop and commercialize new products, workflows, consumables and reagent kits, or expand our operations.
  • Our loan and security agreement contains covenants, which restrict our operating activities, and we may be required to repay the outstanding indebtedness in an event of default, which could have a material adverse effect on our business, financial condition, results of operations and prospects.
  • The sizes of the markets and forecasts of market growth for our Berkeley Lights Platform and other of our key performance indicators are based on a number of complex assumptions and estimates, and may be inaccurate.
  • The life sciences technology market is highly competitive, and if we cannot compete successfully with our competitors, we may be unable to increase or sustain our revenue, or achieve and sustain profitability.
  • We must develop new products, adapt to rapid and significant technological change and respond to introductions of new products by competitors to remain competitive.
  • If we do not successfully manage the development and launch of new products, our operating results could be adversely affected.
  • We may be unable to manage our future growth effectively, which could make it difficult to execute our business strategy.
  • We depend on our information technology systems, and any failure of these systems could harm our business.
  • We have limited experience in marketing and sales, and if we are unable to expand our marketing and sales organization to adequately address our customers’ needs, our business may be adversely affected.
  • The loss of any member of our senior management team or our inability to attract and retain highly skilled scientists, engineers and salespeople could adversely affect our business.
  • We may acquire businesses or form joint ventures or make investments in other companies or technologies that could negatively affect our operating results, dilute our stockholders’ ownership, increase our debt or cause us to incur significant expense.
  • Our products could become subject to more onerous regulation by the FDA or other regulatory agencies in the future, which could increase our costs and delay or prevent commercialization of our products, thereby materially and adversely affecting our business, financial condition, results of operations and prospects.
  • Due to the significant resources required to enable access in new markets, we must make strategic and operational decisions to prioritize certain markets, technology offerings or partnerships. We may expend our resources to access markets, develop technologies or form certain partnerships that do not yield meaningful revenue or we may fail to capitalize on markets, technologies or partnerships that may be more profitable or with a greater potential for success.
  • Our billing and collections processing activities are complex and time-consuming, and any delay in transmitting invoices or failure to comply with applicable billing requirements, could have an adverse effect on our future revenue.
  • If our sole operating facility becomes damaged or inoperable or we are required to vacate our existing facility, our ability to conduct and pursue our research and development efforts may be jeopardized.
  • Our insurance policies are expensive and protect us only from some business risks, which leaves us exposed to significant uninsured liabilities.
  • Public health crises such as the current COVID-19 pandemic or similar outbreaks could cause a disruption of the development of our platform technologies and products, and adversely impact our business.
  • The COVID-19 pandemic has resulted in certain increased rules, regulations, procedures and processes regarding the workplace and an outbreak, or a suspected outbreak, in our workplace could cause severe disruptions to our workforce and have a material adverse effect on our business, financial condition and results of operation.
  • Security breaches, loss of data and other disruptions could compromise sensitive information related to our business or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and our reputation.
  • We are currently subject to, and may in the future become subject to additional, U.S., state and foreign laws and regulations imposing obligations on how we collect, store and process personal information. Our actual or perceived failure to comply with such obligations could harm our business. Ensuring compliance with such laws could also impair our efforts to maintain and expand our customer base, and thereby decrease our revenue.
  • International expansion of our business exposes us to business, regulatory, political, operational, financial and economic risks associated with doing business outside of the United States.
  • Unfavorable global economic conditions could adversely affect our business, financial condition or results of operations. Our results of operations could be adversely affected by general conditions in the global economy and in the global financial markets.
  • We could be adversely affected by violations of the FCPA and the anti-bribery and anti-corruption laws of the United States or other countries.
  • Our employees, consultants, distributors and commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements, and insider trading.
  • We and our third party manufacturing partners have limited experience in producing our systems and certain parts and components for our systems, and if we are unable to manufacture our systems in high-quality commercial quantities successfully and consistently to meet demand, our growth will be limited.
  • Manufacturing delays related to quality control could negatively impact our ability to bring our systems to market, harm our reputation and decrease our revenue. Any defects, errors or recalls could be expensive and generate negative publicity, which could impair our ability to market our systems and further affect our results of operations.
  • We use biological and hazardous materials that require considerable expertise and expense for handling, storage and disposal and may result in claims against us.
  • Our manufacturing operations and those of our key third party manufacturers are dependent upon third party suppliers, including single source suppliers, making us vulnerable to supply shortages and price fluctuations, which could harm our business.
  • We forecast sales to determine requirements for components and materials used in our systems, and if our forecasts are incorrect, we may experience delays in shipments or increased inventory costs.
  • Shipping is a critical part of our business and any changes in our shipping arrangements or damages or losses sustained during shipping could adversely affect our business, financial condition, results of operations and prospects.
  • If we are unable to obtain and maintain sufficient intellectual property protection for our technology, including the Berkeley Lights Platform, or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our products may be impaired.
  • Changes in patent law in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Issued patents covering our products could be found invalid or unenforceable if challenged.
  • We rely on in-licenses from third parties. If we lose these rights, our business may be materially adversely affected, our ability to develop improvements to our existing systems, workflows, consumables and reagent kits and to develop new systems, workflows, consumables and reagent kits may be negatively and substantially impacted, and if disputes arise, we may be subjected to future litigation as well as the potential loss of or limitations on our ability to develop and commercialize products and technology covered by these license agreements.
  • If we cannot acquire or license rights to use technologies on reasonable terms, we may not be able to commercialize new products in the future.
  • We may not be able to protect our intellectual property rights throughout the world.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business could be harmed.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties or that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • We may not be able to protect and enforce our trademarks and trade names, or build name recognition in our markets of interest thereby harming our competitive position.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • We are and in the future may be involved in litigation related to intellectual property, which could be time- intensive and costly and may adversely affect our business, financial condition, results of operations and prospects.
  • Claims by AbCellera and the University of British Columbia that we infringe their intellectual property rights may adversely affect our business, financial condition, results of operations and prospects.
  • Intellectual property litigation could cause us to spend substantial resources and distract our personnel from their normal responsibilities.
  • We may become involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time consuming and unsuccessful.
  • Obtaining and maintaining our patent protection depends on compliance with various required procedures, document submissions, fee payments and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Patent terms may be inadequate to protect our competitive position on our products for an adequate amount of time.
  • Our use of open source software could compromise our ability to offer our services and subject us to possible litigation.
  • The market price of our common stock has been volatile and may continue to fluctuate substantially, which could result in a substantial loss for purchasers of our common stock.
  • We are an “emerging growth company” and the reduced disclosure requirements applicable to “emerging growth companies” may make our common stock less attractive to investors.
  • Our directors, officers and principal stockholders have significant voting power and may take actions that may not be in the best interests of our other stockholders.
  • If we experience material weaknesses in the future or otherwise fail to implement and maintain an effective system of internal controls in the future, we may not be able to accurately report our financial condition or results of operations which may adversely affect investor confidence in us and, as a result, the value of our common stock.
  • Provisions in our corporate charter documents and under Delaware law could make an acquisition of us more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware will be the exclusive forum for certain disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • Because we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be your sole source of gain.
  • Our actual operating results may differ significantly from any operating guidance we may provide.
  • Securities analysts may not publish favorable research or reports about our business or may publish no information at all, which could cause our stock price or trading volume to decline.
  • We incur significant additional costs as a result of being a public company, which may adversely affect our business, financial condition, results of operations and prospects.
Management Discussion
  • Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning our business, operations and financial performance and condition, as well as our plans, objectives and expectations for our business, operations and financial performance and condition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, statements about:
  • •our expectations about market trends.
Content analysis
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Positive
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Uncertain
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Legalese
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Readability
H.S. sophomore Avg
New words: agricultural, agriculture, attention, billing, booked, Broad, category, clearance, dismissal, disproportionate, divert, eighteen, extreme, found, hurt, inconsistent, IV, local, notice, past, petition, pronounced, published, quantitative, refinancing, strategy, thirteen, unrelated
Removed: assured, NaN, resulted