Akoya Biosciences, Inc.

akoyabio.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2025 10-Q, filed May 13, 2025. Its latest SEC filing is a 15-12G from Jul 18, 2025.

The sections below describe the company as of the FY2024 annual report.

What Did They Do?

Sells tissue-analysis instruments, consumables and software for spatial biology to academic and biopharma researchers working across discovery, translational and clinical research.

How Did They Make Money?

Akoya sells instruments, consumable reagents and software, and earns fees for warranties and laboratory services. Instrument sales are counted when the instrument is provided, reagents when shipped, and software when made available; warranty fees accrue over coverage, while laboratory and test-development work earns revenue as it is performed.

FY2024 revenue

Who Were Their Customers?

Akoya sells products predominantly through its direct sales force in the United States and geographic regions outside the United States.

Customers above 10% of revenue, FY2024

of revenue from one customer

FY2023: no customer at 10% or more of revenue

Did Revenues Turn Into Profits?

No. It lost $55.4M in FY2024.

Operating income, FY2024

−57% of revenue

▼ −19% (Loss) vs FY2023 (−$57.7M, −60%)

Net income, FY2024

−68% of revenue

▼ −13% (Loss) vs FY2023 (−$63.3M, −66%)

Free cash flow, FY2024

−57% of revenue

▼ −15% (Loss) vs FY2023 (−$54.6M, −56%)

How Were They Changing?

Since the FY2024 annual report

Latest quarter: Q1 FY2025, the three months to Mar 31, 2025

Revenue: ▼ −9%; vs $18.4M in Q1 FY2024
Net income: ▼ −33% (Loss); vs −$23.5M in Q1 FY2024

Jul 8, 2025 Quanterix completed its acquisition of Akoya Akoya shares were converted into Quanterix stock and cash.
Jun 2, 2025 A third party withdrew its acquisition proposal The board continued to recommend the amended merger agreement with Quanterix.
Apr 29, 2025 Akoya and Quanterix amended their merger terms The revised consideration combined Quanterix shares with cash for Akoya shareholders.

Grew. Revenue grew 92% in 4 years, from $42.4M in FY2020 to $81.7M in FY2024, about 18% a year.

Diagnostics enter the stated scope The latest report extends its stated spatial-phenotyping scope into diagnostics, beyond the discovery, translational and clinical research range described in the older report.

Who Did They Compete With?

Competes with 10x Genomics, Vizgen, BioTechne, Bruker, Miltenyi Biotec, and Standard BioTools

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