Before I turn the call back over, just a few comments on our 2024 outlook and our longer-term financial profile. Today, we issued a total combined revenue guidance for fiscal 2024 in the range of $200 million to $205 million, implying annual growth in the 4% to 7% range. As Michael mentioned, 2024 is a year of focused execution of our strategic priorities, while also maintaining a laser focus on realizing long-term cost synergies to secure a path to profitable growth. And at the same time, we’re navigating continued macroeconomic headwinds facing our entire industry. While our revenue growth will not be linear, we remain committed to our longer-term growth targets as we hit key commercial inflection points. We continue to believe, by the end of 2026, our combined business will deliver approximately $300 million in revenue, with non-GAAP gross margins in the mid-60s, positive adjusted EBITDA margin and a cash position capable of supporting our continued growth.
And one final update on our cap structure. The Board recently approved a new share repurchase program of up to $50 million through March of 2026. This buyback program will be effective as of March 1, 2024. With our enhanced balance sheet and operating cash flow improving, this will enable us to repurchase opportunistically and offset future dilution from possible equity issuances arising from convertible debt and other instruments in our existing cap structure. We see this as nothing more than responsible housekeeping to provide additional flexibility in preserving our long-term shareholder value. And with that, I’ll turn the call over to Adam Taich, former CEO of SomaLogic and our current Chief Strategy Officer, for some additional perspective on 2023 and the combination of our two companies.
Adam Taich : Thank you, Jeff. We are extremely excited about the progress we have made and the value we have collectively generated in 2023, culminating with the groundbreaking merger of our two companies. Speaking on behalf of the entire SomaLogic team, we are thrilled to now be part of the Standard BioTools family and are driven to tackle our next chapter of growth together. As we have highlighted previously, SomaLogic has carefully cultivated strong customer relationships and invested in broadening our commercial reach, which today services many of the top 20 biopharma companies and have more than doubled our footprint of global authorized sites in the past 12 months. We are also extremely excited about our partnership with Illumina which will dramatically expand the ways in which customers can utilize the SomaScan technology.
Ongoing improvements and menu expansion have enabled multiple enhancements while preserving a commitment to accuracy and reproducibility that is now synonymous with the SOMAscan name. The most recent menu expansion announced late last year provides researchers with the broadest coverage tool available to make meaningful advancements in biomarker discovery and drug targeting. When we first started discussions on the merger, the complementary nature of our platforms and technologies was one of the most compelling aspects of the combined business. Now as we sit together on this conference call, our two companies have come together to create a leading multi-omic platform to drive improved returns for all of our stakeholders. We are pleased that the integration process is well underway, and we are advancing towards growing our combined business with vast upside potential in attractive markets.
I also want to take this opportunity to once again thank our world-class team of dedicated professionals that have worked so diligently to bring us to this point today. With that, I will turn the call back over to Michael for closing remarks.
Michael Egholm : Thank you, Adam. I’ll conclude by thanking our team for their solid execution in 2023 and our investors for their continued support of our mission. And I once again welcome our SomaLogic team members to the Standard BioTools family, including key additions to our executive leadership team that join us from an organization of highly talented individuals with a true passion for the legacy SomaLogic technology. I couldn’t be more excited about the impact our combined businesses will have on empowering research and changing life. We are ever mindful of the work still to be done and challenges ahead, but I am more convinced now than ever that the Standard BioTools and SomaLogic are better together. Stay tuned for future updates.
We look forward to connecting with many of you at the upcoming TD Cowen’s Healthcare Conference on March in Boston and the KeyBank Virtual Life Sciences and MedTech form on March ’19. I’ll now turn the call over to the operator for concluding remarks.
Operator:
