Key Highlights

  • Alamar Biosciences shares were trading down 10.09% at $27.17, against a prior close of $30.22.
  • Third-quarter Revenue rose 68% to $33.5 million, above consensus near $30 million.
  • Gross Margin reached a record 61.5%.
  • 2026 revenue guidance rose to $121 million to $123 million.
  • UK Biobank and GSK studies were added to the story.

A Beat and Raise Meets a Cautious Market

Alamar Biosciences (NASDAQ:ALMA) shares were trading down 10.09% at $27.17 on Wednesday, Gapping lower from a $30.22 close even as the wider market rallied. Third-quarter revenue rose 68% to $33.5 million, ahead of consensus near $30 million, and full-year guidance was raised.

Investors seem to be weighing a flat implied fourth quarter, a decline expected in service revenue, a wider operating loss and the planned retirement of an executive.

Consumables Lead the Growth

Consumables rose 79% to $17.8 million, about 53% of revenue, instruments grew 50% to $8.5 million, and service and other revenue was $7.2 million, a record that is not expected to repeat in the fourth quarter. Gross margin reached 61.5%, against 59.7% a year ago.

Operating expenses were $35.8 million, the operating loss was $15.1 million and cash stood at $231.5 million.

Guidance Raised, With Large Studies Providing Visibility

2026 revenue guidance rose to $121 million to $123 million from $116 million to $120 million. The company won processing of 80,000 UK Biobank samples and a GSK Partnership covering more than 60,000 serum samples, starting in the first quarter of 2027. Biopharma was the largest customer segment for the first time, at 49% of revenue.

Management plans at least 100 instrument placements this year and expects to submit the ARGO HT DX system for FDA Marketing authorization by the end of next year.

Insider Selling and Leadership Change Weigh

Chief Financial Officer and Chief Business Officer Todd White will retire at year-end and serve as an adviser through June 2027. Continued selling by an early investor, Qiming, is also on traders’ radar. The stock debuted in April 2026 and has a 52-week range of $18.85 to $39.61.