Codex DNA, Inc. (DNAY) Q1 2022 Earnings Conference Call May 10, 2022 4:30 PM ET

Company Participants

Richard Lepke - Director, Investor Relations

Todd Nelson - Chief Executive Officer

Jennifer McNealey - Chief Financial Officer

Conference Call Participants

Brandon Couillard - Jefferies

Paul Knight - KeyBanc

Steven Mah - Cowen

Operator

Good afternoon, ladies and gentlemen and welcome to the Quarter One 2022 Codex DNA Incorporated Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to your host, Richard Lepke, Director of Investor Relations.

Richard Lepke

Thank you, Vape. Good afternoon and thanks for joining us for Codex DNA’s first quarter 2022 earnings call. With me on the call today are Todd Nelson, our Chief Executive Officer and Jennifer McNealey, our Chief Financial Officer. Our first quarter press release is available now on the Investors section of our website. If you would like to be added to the company’s distribution list, please send an e-mail to ir@codexdna.com.

Before we begin, I’d like to inform you that certain statements we make during this call will be forward-looking. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Such factors include those referenced in the Safe Harbor statement included in our earnings release and in our filings with the SEC. This conference call contains time-sensitive information and is accurate only as of the live broadcast on May 10, 2022. Finally, any percentage changes we discuss will be on a year-over-year basis, unless otherwise noted.

With that, I’d like to turn the call over to Todd, Codex DNA’s CEO.

Todd Nelson

Thanks, Rich and good afternoon everyone. Thank you for joining us today. We are pleased to discuss our financial results for the first quarter of 2022. To start, I’d like to talk about our first quarter highlights and commercial results. We are off to a very strong start to the year across our entire product portfolio. We continue to strengthen our business and see robust demand for our products.

For the first quarter, we grew revenue by 142% compared to the prior year period. And excluding the inorganic contributions from Eton Bio, growth was 82%. Revenue during the period was driven in part by our highest number of quarterly placements of our BioXp 3250 instruments, strong growth in BioXp consumable kits, and biofoundry services, and increased partnership revenue related to our agreement with Pfizer.