$ALMR

Alamar Biosciences, Inc.

CIK:0002104204|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 29,427	$ 16,162	$ 55,462	$ 29,253
Cost of revenue:
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	13,817	8,895	26,834	17,197
Selling, general and administrative	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 (benefit) for income taxes	(93)		371
Net loss	$ (13,199)	$ (7,023)	$ (34,524)	$ (14,682)
Net loss per share, basic	$ (0.22)	$ (0.62)	$ (0.97)	$ (1.3)
Net loss per share, diluted	$ (0.22)	$ (0.62)	$ (0.97)	$ (1.3)
Weighted-average common shares outstanding, basic	58,665,055	11,409,556	35,589,492	11,334,630
Weighted-average common shares outstanding, diluted	58,665,055	11,409,556	35,589,492	11,334,630
Product Revenue
Revenue:
Total revenue	$ 23,269	$ 12,040	$ 44,610	$ 21,209
Cost of revenue:
Total cost of revenue	9,858	6,489	19,668	11,860
Service and Other Revenue
Revenue:
Total revenue	6,158	4,122	10,852	8,044
Cost of revenue:
Total cost of revenue	$ 1,851	$ 1,092	$ 3,619	$ 2,423

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (34,524)	$ (14,682)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	2,301	1,807
Stock-based compensation	4,747	1,299
Accretion and amortization of premiums and discounts on investments, net	(137)	(222)
Loss on remeasurement of convertible notes	9,971
Convertible note issuance costs included in net loss	361
Unrealized foreign exchange loss (gain)	245	(527)
Non-cash operating lease costs	1,145	867
Amortization of debt issuance costs	137	86
Change in fair value of warrant liabilities	117	23
Provision for expected credit losses	135
Changes in assets and liabilities:
Accounts receivable	(7,821)	(2,849)
Inventory	(6,990)	(9,418)
Contract assets		413
Net investment in sales-type lease		173
Prepaid expenses and other current assets	(2,860)	349
Other noncurrent assets	(811)	120
Accounts payable	7,658	(1,235)
Operating lease liabilities	(903)	(955)
Accrued expenses and other liabilities	(4,440)	(199)
Net cash used in operating activities	(31,669)	(24,950)
Cash flows from investing activities
Purchases of short-term investments	(117,045)	(4,940)
Maturities of short-term investments		42,000
Purchases of property and equipment	(4,242)	(1,307)
Capitalized software development costs	(287)	(790)
Net cash (used in) provided by investing activities	(121,574)	34,963
Cash flows from financing activities:
Proceeds from issuance of common stock in connection with IPO, net of underwriting costs	204,542
Payment of third-party IPO costs	(6,150)
Proceeds from issuance of convertible notes	56,500
Payment of third-party debt issuance costs	(324)
Proceeds from issuance of common stock upon exercise of stock options	3,034	407
Net cash provided by financing activities	257,602	407
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(45)	469
Net increase in cash, cash equivalents and restricted cash	104,314	10,889
Cash, cash equivalents and restricted cash at beginning of period	34,909	31,677
Cash, cash equivalents and restricted cash at end of period	139,223	42,566
Supplemental disclosure of cash-flow information:
Cash paid for interest	303	6
Noncash investing and financing items:
Conversion of convertible preferred stock to common stock	234,996
Conversion of convertible notes to common stock	66,471
Reclassification of deferred offering costs to additional paid-in capital upon IPO	6,705
Vesting of early exercised stock options	230	9
Right-of-use assets obtained in exchange for new operating lease liabilities	10,807	134
Conversion of preferred stock warrants to common stock warrants	364
Equipment transferred to inventory	10	169
Property and equipment included in accounts payable and accrued liabilities	$ 601	$ 196

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 132,969,000	$ 30,002,000
Short-term investments	117,083,000	0
Accounts receivable	20,344,000	12,753,000
Inventory	45,409,000	38,482,000
Prepaid expenses and other current assets	15,577,000	13,468,000
Total current assets	331,382,000	94,705,000
Restricted cash	6,254,000	4,907,000
Property and equipment, net	13,358,000	10,498,000
Operating lease right-of-use assets	35,798,000	26,130,000
Capitalized software, net	1,605,000	1,988,000
Other assets - noncurrent	2,578,000	1,764,000
Total assets	390,975,000	139,992,000
Current Liabilities
Accounts payable	13,790,000	5,872,000
Accrued and other current liabilities	11,893,000	15,759,000
Short-term operating lease liabilities	2,277,000	2,099,000
Total current liabilities	27,960,000	23,730,000
Long-term operating lease liabilities	39,182,000	29,564,000
Warrant liabilities		247,000
Term debt	9,947,000	9,810,000
Other noncurrent liabilities	1,029,000	599,000
Total liabilities	78,118,000	63,950,000
Convertible preferred stock		234,996,000
Stockholders' equity (deficit)
Founders preferred stock
Common stock	7,000	1,000
Additional paid-in capital	516,288,000	9,892,000
Accumulated other comprehensive loss	(139,000)	(72,000)
Accumulated deficit	(203,299,000)	(168,775,000)
Total stockholders' equity (deficit)	312,857,000	(158,954,000)
Total liabilities, convertible preferred stock and stockholders' deficit	$ 390,975,000	$ 139,992,000