South San Francisco, CA 10/12/16—Fluidigm, a supplier of life science analytical and preparatory systems, pre-announced that its third quarter sales fell 23% to $22.2 million. The decrease includes a 39% decline in instrument revenue to $9.2 million primarily due to lower-than-expected sales of the Helios system. As a result, the company has suspended its full-year guidance. “Although lower-than-expected sales of Helios systems contributed a significant portion of the overall shortfall, we have already seen a number of those anticipated sales close or progress in the fourth quarter,” stated Fluidigm CEO Gajus Worthington.

Including the third quarter, Fluidigm has missed revenue guidance four of the last seven quarters. Preliminary third quarter sales were roughly 24% below analysts’ expectations due to a significant decline in instrument sales. Prior misguided projections were attributed to lower sales of single-cell sample preparation systems as well as weaker-than-projected uptake of new products. However, this quarter’s significant revenue miss was primarily quantified by lower sales of its single-cell analytical Helios system. While the company expects to capture a portion of anticipated Helios sales in the fourth quarter, IBO expects a sharply lower 2016 revenue outlook during the company’s financial results on November 3.