SomaLogic sees record sales in 2021 but nearly doubles losses

BOULDER — SomaLogic Inc. (Nasdaq: SLGC), a Boulder-based biotechnology company that went public last year in a merger with a special purpose acquisition company, grew sales in 2021 by nearly 50% year over year, but also nearly doubled its losses.

The company posted revenues of $81.6 million, up 46.1% over 2020. That’s a company record and well ahead of guidance provided in previous quarters. 

Net loss was $87.5 million, or a loss of 64 cents per share, as compared to a net loss of $53 million, or 81 cents per share in the prior year.

SPONSORED CONTENT

Exploring & expressing grief

Support groups and events, as well as creative therapies and professional counseling, are all ways in which Pathways supports individuals dealing with grief and loss.

For the fourth quarter, Somalogic posted a net loss of 13 cents per share on sales of $23 million.

Earnings missed Zacks Consensus Estimate of a loss of 12 cents per share.

SomaLogic, which develops platforms to read thousands of proteins in a patient’s blood or urine sample that may signal illnesses or future health conditions and suggest potential treatments via machine learning, set its 2022 revenue guidance at a range of $105 million to $110 million.