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QTRX

Quanterix Corporation

QTRX

Quanterix Corporation • NASDAQ
$7.26 ▼ -1.63% (-0.12)
Market Cap $339.12 M
52w High $13.01
52w Low $4.05
Dividend Yield 0%
P/E -3.1
Volume 338.98K
Outstanding Shares 46.71M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $40.15M ▲ $54.448M ▲ $-33.517M ▼ -83.479% ▲ $-0.73 ▲ $-31.416M ▼
Q2-2025 $24.454M ▼ $48.378M ▲ $-30.013M ▼ -122.732% ▼ $-0.77 ▼ $-26.581M ▼
Q1-2025 $30.273M ▼ $42.721M ▲ $-20.504M ▼ -67.73% ▼ $-0.53 ▼ $-24.178M ▼
Q4-2024 $34.106M ▼ $35.883M ▲ $-11.628M ▼ -34.094% ▼ $-0.3 ▼ $-11.153M ▼
Q3-2024 $35.411M $31.499M $-8.353M -23.589% $-0.22 $-10.972M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $134.809M ▼ $444.14M ▲ $129.606M ▲ $314.534M ▲
Q2-2025 $261.172M ▼ $375.609M ▼ $83.151M ▲ $292.458M ▼
Q1-2025 $266.877M ▼ $396.512M ▼ $80.119M ▲ $316.393M ▼
Q4-2024 $289.122M ▼ $406.533M ▼ $76.495M ▲ $330.038M ▼
Q3-2024 $293.523M $411.026M $72.144M $338.882M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-33.517M ▼ $-41.249M ▼ $-52.85M ▼ $150K ▲ $-94.598M ▼ $-41.926M ▼
Q2-2025 $-30.013M ▼ $-5.655M ▲ $61.88M ▲ $-429K ▼ $56.39M ▲ $-6.432M ▲
Q1-2025 $-20.504M ▼ $-13.888M ▼ $32.762M ▲ $93K ▲ $19.828M ▼ $-15.144M ▼
Q4-2024 $-11.628M ▼ $-4.302M ▲ $32.384M ▲ $41K ▼ $27.37M ▲ $-4.714M ▲
Q3-2024 $-8.353M $-5.747M $-12.429M $144K $-17.663M $-6.598M

Revenue by Products

Product Q2-2024Q1-2025Q2-2025Q3-2025
Consumable And Other Products
Consumable And Other Products
 $20.00M ▲$20.00M ▲$10.00M ▼$20.00M ▲
Instruments
Instruments
 $0 ▲$0 ▲$0 ▲$10.00M ▲
License and Service
License and Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Services
Other Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $20.00M ▲$20.00M ▲$20.00M ▲$30.00M ▲
Research Services
Research Services
 $10.00M ▲$10.00M ▲$0 ▼$10.00M ▲
Service And Other Revenue
Service And Other Revenue
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Service
Service
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Quanterix looks like a growing but still clearly unprofitable business. Sales have been climbing steadily over the past five years, although the pace is moderate rather than explosive. Profitability has been the main challenge: operating losses have been consistent, with a particularly weak year in the recent past, but the last two years show clear improvement with losses narrowing. Gross margins are healthy enough to support a real business model, but overhead and R&D spending keep overall results in the red. In simple terms, this is a company that has moved past the proof‑of‑concept stage and is now working to scale its revenue base to cover the cost of its innovation and commercial infrastructure.

Balance Sheet

Balance Sheet The balance sheet shows a company funded mainly by equity with relatively modest use of debt. Total assets have been fairly stable, suggesting no major overexpansion, but also no dramatic balance‑sheet growth. Cash levels once were quite strong and have since come down materially, which is typical for a company investing heavily while still losing money. Debt is present but small in relation to the business, so financial leverage risk appears limited. Overall, the balance sheet looks reasonably solid for an early‑stage med‑tech company, but the declining cash cushion means ongoing attention to liquidity and funding needs is important.

Cash Flow

Cash Flow Cash flow tells the story of a business still in investment mode. Operating cash flow has been negative throughout the period, though the cash burn has eased in the last couple of years versus the worst point. Free cash flow follows the same pattern: consistently negative, but not at extreme levels, helped by modest capital spending. This means the company is still consuming cash to support growth and R&D rather than generating it. The key question over the next few years is whether revenue growth and margin improvements can push operating cash flow toward breakeven before the company needs substantial additional capital.

Competitive Edge

Competitive Edge Quanterix occupies a specialized niche in ultra‑sensitive biomarker detection, where its Simoa platform offers much higher sensitivity than traditional methods. This creates a real performance edge in areas like neurology, oncology, and cardiology research. Its moat is supported by a strong patent portfolio, a growing base of scientific publications using its technology, and an ecosystem that includes instruments, consumable kits, and contract research services. At the same time, it competes indirectly with very large diagnostics and life‑science players that have broad portfolios and deep resources. Quanterix’s advantage is depth and sensitivity in a focused area, not breadth across the whole diagnostics landscape, so execution and continuous innovation are critical to keep that edge.

Innovation and R&D

Innovation and R&D Innovation is the core of the Quanterix story. The Simoa technology enables detection of biomarkers at extremely low levels, opening up new possibilities in early disease detection and monitoring. The company has pushed hardest in neurology, highlighted by its Alzheimer’s blood test with FDA Breakthrough Device designation, as well as multi‑marker panels for brain injury and neurodegenerative diseases. Its contract research and lab services extend the platform to customers who do not own the instruments, helping adoption. The planned integration of Akoya Biosciences adds another layer of innovation, combining blood‑based ultra‑sensitive detection with tissue‑based spatial biology. This could broaden the scientific and commercial reach substantially but also introduces integration complexity and execution risk.

Summary

Putting it all together, Quanterix is a classic high‑innovation med‑tech company: a differentiated technology platform, strong scientific validation, and exposure to fast‑growing areas like neurology and precision medicine, balanced by ongoing losses and negative cash flow. Financially, the trend is moving in the right direction—losses are narrowing and cash burn is more controlled—but the business is not yet self‑funding and still depends on successful growth and careful capital management. Strategically, the company’s moat is rooted in sensitivity, IP, and ecosystem effects, while large incumbents and technical execution remain key risks. The Akoya combination, if well executed, could materially strengthen its position across both blood and tissue diagnostics, but it also raises the bar for integration, cost control, and a clear path to sustainable profitability. For observers, the main variables to watch are revenue growth, margin progression, cash usage, and evidence that its innovative assays are gaining durable, broad‑based adoption in its target markets.

NEWS

November 20, 2025 · 4:15 PM UTC

Quanterix Announces Board and Leadership Changes to Support Next Stage of Growth

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November 17, 2025 · 5:30 PM UTC

Quanterix Announces Landmark Study Demonstrating Dual GFAP/NfL Blood Test Approach for Personalized Multiple Sclerosis Monitoring

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November 10, 2025 · 4:01 PM UTC

Quanterix Releases Financial Results for the Third Quarter of 2025

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November 3, 2025 · 7:00 AM UTC

Quanterix To Report Third Quarter 2025 Financial Results on November 10, 2025

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