Form 8-K
8-K — Quanterix Corp
Accession: 0001503274-26-000019
Filed: 2026-05-06
Period: 2026-05-06
CIK: 0001503274
SIC: 3826 (LABORATORY ANALYTICAL INSTRUMENTS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — qtrx-20260506.htm (Primary)
EX-99.1 (ex991-qtrxx20260331.htm)
EX-99.2 (q1-26earningspresentatio.htm)
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8-K
8-K (Primary)
Filename: qtrx-20260506.htm · Sequence: 1
qtrx-20260506
false000150327400015032742026-05-062026-05-06
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________
FORM 8-K
______________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 2026
_________________________________________________
QUANTERIX CORPORATION
(Exact name of registrant as specified in its charter)
_________________________________________________
Delaware 001-38319 20-8957988
(State or other jurisdiction
of incorporation) (Commission File Number) (IRS Employer
Identification No.)
900 Middlesex Turnpike
Billerica, MA
01821
(Address of principal executive offices)
(Zip Code)
(617) 301-9400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class:
Trading symbol(s):
Name of each exchange on which
registered:
Common Stock, $0.001 par value per share QTRX The Nasdaq Global Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging Growth Company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On May 6, 2026, Quanterix Corporation (“Quanterix”) issued a press release announcing its financial results for it's first fiscal quarter ended March 31, 2026 (the “Earnings Release”). A copy of the Earnings Release is furnished as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 2.02 of this Form 8-K (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 (the "Securities Act") or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 7.01 Regulation FD Disclosure.
A copy of slides to be presented during Quanterix’s earnings call on May 6, 2026 is furnished as Exhibit 99.2 and is incorporated herein by reference.
The information in Exhibits 99.1 and 99.2 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit
No. Description
99.1
Earnings Release dated May 6, 2026
99.2
Slides from May 6, 2026 Earnings Call
104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
QUANTERIX CORPORATION
By: /s/ Vandana Sriram
Vandana Sriram
Chief Financial Officer
Date: May 6, 2026
EX-99.1
EX-99.1
Filename: ex991-qtrxx20260331.htm · Sequence: 2
Document
Exhibit 99.1
Quanterix Releases Financial Results for the First Quarter of 2026
Reports $36.4 million in revenue and approximately $103 million of cash and marketable securities
Company prioritizing product roadmap and investing in initiatives to drive commercial effectiveness
BILLERICA, Mass. – May 6, 2026 - Quanterix Corporation (NASDAQ: QTRX), a company transforming healthcare by accelerating biomarker breakthroughs from discovery to diagnostics, today announced financial results for the first quarter ended March 31, 2026.
“We continue to make progress toward achieving cash flow breakeven as we move into a phase of growth now that we have captured the cost synergies from the Akoya acquisition,” said Everett Cunningham, President & CEO of Quanterix. “As part of this process, we are focusing our investment into areas that will benefit our commercial effectiveness and drive improved operating results in 2026 and beyond. Additionally, our Alzheimer’s diagnostics business continues its rapid growth with several key milestones expected in the second half of this year, including the completion of three clinical utility studies and a decision from the FDA on our 510(k) application.”
First Quarter Financial Highlights
•Revenue of $36.4 million, an increase of 20% compared to $30.3 million in the prior year.
•GAAP gross margin of 42.7%, as compared to 48.9% in the prior year. Adjusted gross margin (non-GAAP) of 50.9% as compared to 49.7% in the prior year. Prior year margins are updated to reflect a change in accounting policy in Q1’26 related to shipping and handling costs. Shipping and handling costs for product sales are now recorded in cost of product revenue in the Company’s GAAP financials.
•Adjusted EBITDA (non-GAAP) loss of $9.8 million, compared to a loss of $11.3 million in the prior year.
•The Company ended the first quarter with $102.6 million of cash, cash equivalents, marketable securities, and restricted cash. Adjusted cash usage, after accounting for one-time deal and employee separation costs of $4.2 million, was $14.7 million in the first quarter, an increase from the fourth quarter of 2025 driven by seasonally higher payments.
Operational and Business Highlights
•Announced a collaboration with Tempus AI to broaden access to a novel blood-based biomarker panel designed to improve detection accuracy for Alzheimer’s disease. Through the agreement, Tempus AI will build a care gap program for Alzheimer’s disease blood-based biomarker testing, with Quanterix’s LucentAD® Complete multi-biomarker blood test becoming available for neurologists to order on the Tempus clinical ordering platform.
•Announced a diagnostics collaboration with Life Line Screening (LLS), a national organization focused on identifying asymptomatic risks for chronic conditions in community health settings. Through the collaboration, Life Line Screening will offer Quanterix’s Lucent Diagnostics non-invasive blood-based biomarker test for p-tau 217 nationally.
•Selected as a Co-Investigator institution in the PD-BUILD program, part of the Aligning Science Across Parkinson’s (ASAP) Collaborative Research Network (CRN) 2026 expansion, supported by The Michael J. Fox Foundation (MJFF). This multi-year grant brings together leading institutions across academia and industry to develop and deploy high-quality biomarker tools aimed at enabling earlier detection, improved patient stratification, and more effective monitoring of Parkinson’s disease in clinical research.
•Quanterix’s newly launched PhenoCode™ Discovery IO60 panel won silver at the Edison Awards. This award-winning product enables simultaneous visualization of 60 key markers across immune cell types, checkpoints, and tumor-specific pathways.
•Simoa® Ultra-Sensitive Immunoassay launched 3 new assays - mammalian GFAP advantage plus, IL12p70 advantage plus and IL17F advantage plus.
•The Accelerator Service Lab announced two new ADC lung cancer panels for Akoya PhenoImager™ HT at the American Association for Cancer Research(AACR) 2026 annual meeting. Building on the ADC breast cancer panel debuted at the AACR 2025 annual meeting, both panels are available today as a fully managed service.
2026 Business Outlook
Quanterix is reaffirming its guidance for 2026. The Company expects revenues of $169 to $174 million, which assumes no underlying improvement in the academic or pharmaceutical end markets. Quanterix anticipates GAAP gross margin of 41% to 45%, and adjusted gross margin (non-GAAP) of 49% to 53%.
In the first quarter, Quanterix changed its accounting policy for classifying shipping and handling costs for product sales to record them within gross margin. Historically, these costs were recorded in selling, general and administrative expenses. This reclassification is reflected in the Company’s GAAP guidance range, but there is no change to the non-GAAP margin expectation.
Quanterix continues to anticipate achieving cash flow breakeven in the second half of the year and expects to end the year with cash in the range of $100M, and no debt.
Conference Call
In conjunction with this announcement, the Company will host a conference call on May 6, 2026, at 4:30 PM ET. The dial-in number for USA & Canada is Toll-Free (800) 715-9871 or (646) 307-1963 and the conference ID is 8523507.
Interested investors can also listen to the live webcast from the Event Details page in the Investors section of the Quanterix website at https://ir.quanterix.com. An archived webcast replay will be available on the Company’s website for one year.
About Quanterix
Quanterix is a global leader in ultra-sensitive biomarker detection, enabling breakthroughs in disease research, diagnostics, and drug development. Its proprietary Simoa® technology delivers industry-leading sensitivity, allowing researchers to detect and quantify biomarkers in blood and other fluids at concentrations far below traditional limits. With approximately 6,500 peer-reviewed publications, Quanterix has been a trusted partner to the scientific community for nearly two decades. In 2025, Quanterix acquired Akoya Biosciences, The Spatial Biology Company®, adding multiplexed tissue imaging with single-cell resolution to its portfolio and 1,450 installed instruments. Together, the combined company offers a uniquely integrated platform that connects biology across blood and tissue—advancing precision medicine from discovery to diagnostics. Learn more at www.quanterix.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Statements included in this press release that are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements about Quanterix’s future business outlook, operations, strategy and financial performance, including statements related to our expectations about consistent profitable revenue growth and achieving cash flow breakeven performance, the development and commercialization of our products, the benefits and synergies we may realize from the acquisition of Akoya Biosciences Inc., and under the header “2026 Business Outlook.”. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities with respect to Quanterix’s future business, operations, strategy and financial performance: risks related to the impact of changes in U.S. government policies, including impacts of tariffs and reductions in federal research funding; risks associated with the anticipated timing for launch of, and features of, Quanterix’s next-generation instruments to upgrade its existing platforms; risks related to Quanterix’s ability to improve existing diagnostics and develop new diagnostic tests and tools; risks related to Quanterix’s ability to successfully penetrate the diagnostics market; risks related to Quanterix’s ability to retain and expand its customer base and achieve sufficient market acceptance of its products; risks related to the ability of Quanterix’s contract manufacturers and suppliers to reliably and consistently manufacture and supply our instruments; risks that Quanterix may fail to realize the anticipated benefits and synergies of its recent acquisitions of Emission, Inc. and Akoya Biosciences Inc.; risk that integrating Quanterix’s business with that of Akoya could be more difficult, costly or time-consuming than expected; risks that Quanterix’s estimates regarding expenses, future revenues, capital requirements, and needs for additional financing could be incorrect; risks related to Quanterix’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; and risks related to defects or other quality issues in
Quanterix’s products that could lead to unforeseen costs, product recalls, adverse regulatory actions, negative publicity and litigation. Additional factors that could cause results to differ materially from those described above can be found in the periodic reports filed by Quanterix with the SEC, including the “Risk Factors” sections contained therein, which are available on the SEC’s website at www.sec.gov.
All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if Quanterix’s underlying assumptions prove to be incorrect, actual results may differ materially from what Quanterix anticipates. Quanterix cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and are based on information available at that time. Quanterix does not assume any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws.
Financial Highlights
QUANTERIX CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share data, unaudited)
Three Months Ended March 31,
2026 2025
Revenues:
Product revenue $ 25,479 $ 20,739
Service and other revenue 10,376 8,823
Collaboration and license revenue 560 771
Total revenues 36,415 30,333
Costs of goods sold and services:
Cost of product revenue 15,140 11,341
Cost of service and other revenue 5,709 4,154
Total costs of goods sold and services 20,849 15,495
Gross profit 15,566 14,838
Operating expenses:
Research and development 7,323 10,036
Selling, general and administrative 29,770 31,168
Impairment 19,835 —
Total operating expenses 56,928 41,204
Loss from operations (41,362) (26,366)
Other income (expense), net:
Interest income 892 3,267
Change in fair value of contingent liabilities 1,501 (379)
Other income, net 21,421 61
Loss before income taxes (17,548) (23,417)
Income tax benefit 7 2,913
Net loss $ (17,541) $ (20,504)
Net loss per common share, basic and diluted $ (0.37) $ (0.53)
Weighted-average common shares outstanding, basic and diluted 46,979 38,718
QUANTERIX CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except per share data, unaudited)
March 31, 2026 December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents $ 36,182 $ 29,839
Marketable securities 63,083 88,393
Accounts receivable, net of allowance for expected credit losses 26,776 29,972
Inventory 50,959 54,763
Prepaid expenses and other current assets 8,725 9,290
Total current assets 185,725 212,257
Restricted cash 3,344 3,341
Property and equipment, net 21,369 23,672
Intangible assets, net 109,161 131,787
Goodwill 26,710 26,376
Operating lease right-of-use assets 15,861 16,664
Other non-current assets 4,502 4,669
Total assets $ 366,672 $ 418,766
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 8,657 $ 13,568
Accrued compensation and benefits 9,850 14,979
Accrued expenses and other current liabilities 8,275 17,571
Deferred revenue 15,190 20,728
Operating lease liabilities 7,933 7,916
Total current liabilities 49,905 74,762
Deferred revenue, net of current portion 2,795 5,830
Operating lease liabilities, net of current portion 27,403 29,323
Non-current portion of contingent liabilities 3,547 5,024
Other non-current liabilities 883 8,097
Total liabilities 84,533 123,036
Total stockholders’ equity 282,139 295,730
Total liabilities and stockholders’ equity $ 366,672 $ 418,766
QUANTERIX CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, unaudited)
Three Months Ended March 31,
2026 2025
Cash flows from operating activities:
Net loss $ (17,541) $ (20,504)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense 5,603 2,188
Credit losses on accounts receivable 305 53
Accretion of marketable securities (150) (979)
Operating lease right-of-use asset amortization 797 561
Stock-based compensation expense 4,528 5,462
Impairment 19,835 —
Change in fair value of contingent liabilities (1,501) 379
Recognition of off-market liability (13,975) —
Other operating activity 15 (412)
Changes in assets and liabilities:
Accounts receivable 2,717 4,329
Inventory 3,221 2,085
Prepaid expenses and other current assets 453 421
Accounts payable (4,846) 399
Accrued compensation and benefits, accrued expenses, and other current liabilities (7,254) (3,517)
Deferred revenue (8,572) 299
Net change in other operating assets and liabilities (1,742) (4,652)
Net cash used in operating activities (18,107) (13,888)
Cash flows from investing activities:
Purchases of marketable securities — (30,246)
Proceeds from sales and maturities of marketable securities 25,350 73,261
Purchases of property and equipment (87) (1,256)
Acquisitions, net of cash acquired — (8,997)
Net cash provided by investing activities 25,263 32,762
Cash flows from financing activities:
Deferred acquisition payment (1,000) —
Principal payments on financing leases (83) —
Proceeds from common stock issued under stock plans 340 668
Payments for employee taxes withheld on stock-based compensation awards (27) (575)
Net cash provided by (used in) financing activities (770) 93
Net increase in cash, cash equivalents, and restricted cash 6,386 18,967
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (40) 861
Cash, cash equivalents, and restricted cash at beginning of period 33,180 59,319
Cash, cash equivalents, and restricted cash at end of period $ 39,526 $ 79,147
Use of Non-GAAP Financial Measures
To supplement our financial statements presented on a U.S. GAAP basis, we present the following non-GAAP financial measures:
•Adjusted EBITDA and adjusted EBITDA margin: We define adjusted EBITDA as net income (loss) adjusted to exclude interest income, income tax (expense) benefit, depreciation and amortization expense, stock-based compensation expense, acquisition and integration related costs, impairment and restructuring, and certain other items which include other charges or benefits resulting from transactions or events that are unusual or infrequent, significant in size, and that we do not believe are indicative of ongoing or future business operations. These items are discussed in more detail below the tables reconciling the GAAP to non-GAAP measures. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by total revenues.
•Adjusted cash usage: We calculate cash usage as the total change in cash, cash equivalents, and restricted cash adjusted to include the net change from purchases, sales, and maturities of marketable securities (excluding any interest receivable). Adjusted cash usage is calculated as cash usage further adjusted to exclude cash payments related to transactions or events that are unusual or infrequent, significant in size, and that we do not believe are indicative of ongoing or future business operations.
•Adjusted gross profit, adjusted gross margin, adjusted total operating expenses, and adjusted loss from operations: We calculate these non-GAAP financial measures by excluding amortization of certain acquired intangible assets, acquisition and integration related costs, and certain other items which include other charges or benefits resulting from transactions or events that are unusual or infrequent, significant in size, and that we do not believe are indicative of ongoing or future business operations. Adjusted gross margin is calculated as adjusted gross profit divided by total revenues.
During the quarter ended March 31, 2026, we changed our accounting policy for classifying shipping and handling costs for product sales and they are now recorded in cost of product revenue. Historically, shipping and handling costs were recorded in selling, general and administrative expenses, and we calculated these non-GAAP financial measures by including shipping and handling costs for product sales within cost of product revenue instead of within selling, general and administrative expenses. We applied the change in accounting policy retrospectively, and no longer reclassify shipping and handling costs in our non-GAAP financial measures.
We believe that presentation of these non-GAAP financial measures provides supplemental information useful to investors in understanding our underlying operating results and trends. We use these non-GAAP financial measures to evaluate our operating performance in a manner that allows for meaningful period-to-period comparison and analysis of trends in our business and our competitors. We believe that presentation of these non-GAAP financial measures provides useful information to investors in assessing our operating performance within our industry and to allow comparability with the presentation of other companies in our industry.
The non-GAAP financial measures presented here should be considered in conjunction with, and not as a substitute for, the financial information presented in accordance with U.S. GAAP. For example, adjusted EBITDA excludes a number of expense items that are included in net loss and adjusted cash usage excludes certain actual cash payments. As a result, positive adjusted EBITDA or positive adjusted cash usage may be achieved even where we record a significant net loss or reduction in our cash and marketable securities balances in accordance with U.S. GAAP.
Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures set forth in the tables captioned “Reconciliation of GAAP to Non-GAAP Financial Measures” in the section below.
Additionally, we make certain forward-looking statements about our future financial performance that include non-GAAP financial measures, which are difficult to predict for future periods because the nature of the adjustments pertains to events that have not yet occurred. We do not forecast many of the excluded items for internal use and therefore information reconciling forward-looking non-GAAP financial measures to U.S. GAAP financial measures is not available without unreasonable effort and is not provided. The occurrence, timing, and amount of any of the items excluded from U.S. GAAP to calculate non-GAAP financial measures could significantly impact our U.S. GAAP results.
QUANTERIX CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
Reconciliation of Net Loss to Adjusted EBITDA (non-GAAP) and Adjusted EBITDA Margin (non-GAAP)
(Unaudited, in thousands except percentages)
Three Months Ended March 31,
2026 2025
Net loss $ (17,541) $ (20,504)
Interest income (892) (3,267)
Income tax expense (benefit) (7) (2,913)
Depreciation and amortization 5,603 2,188
Stock-based compensation expense (1) 4,177 5,462
Acquisition and integration related costs (2) 1,152 3,578
Earnout recorded as compensation expense (3) — 3,744
Changes in contingent liabilities (4) (1,501) 379
Impairment and employee separation costs (5) 20,787 —
Income from contract termination (6) (21,596) —
Adjusted EBITDA (non-GAAP) $ (9,818) $ (11,333)
Total revenues $ 36,415 $ 30,333
Adjusted EBITDA margin (non-GAAP) (adjusted EBITDA as a % of revenue) (27.0) % (37.4) %
(1)Stock-based compensation expense for certain individuals are included in the caption 'Impairment and employee separation costs'.
(2)Represents acquisition and integration costs directly related to the Company's business combinations. Acquisition costs include professional and consulting fees supporting due diligence, legal, and accounting activities to execute a transaction. Integration costs include third party and internal direct costs to integrate acquired companies, employees, and their customers.
(3)Consists of the earnout recognized as compensation expense related to the Emission acquisition.
(4)Consists of fair value adjustments for contingent consideration liabilities related to acquisitions.
(5)Impairment charges for an intangible asset related to the termination of a diagnostics development agreement assumed in the acquisition of Akoya, as well as one-time severance and related costs.
(6)One-time income related to the impact of terminating a diagnostics development agreement assumed in the acquisition of Akoya.
Reconciliation of Net Increase (Decrease) in Cash, Cash Equivalents, and
Restricted Cash to Adjusted Cash Usage (non-GAAP)
(Unaudited, in thousands)
Three Months Ended March 31,
2026 2025
Net increase in cash, cash equivalents, and restricted cash $ 6,386 $ 18,967
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (40) 861
Net change in marketable securities (25,310) (42,044)
Cash usage (18,964) (22,216)
Adjustments:
Acquisition and integration related payments (1) 2,110 12,090
Payment of employee separation costs (2) 2,104 —
Payments related to restatement costs (3) — 1,102
Adjusted cash usage (non-GAAP) $ (14,750) $ (9,024)
(1)Represents cash payments towards acquisition and integration related activities, including the cash purchase price of an acquired business.
(2)Represents cash payments for one-time severance and related costs.
(3)Payment of costs associated with the restatement of previously issued financial statements that was completed at the end of 2024.
Reconciliation of Gross Profit, Gross Margin, Total Operating Expenses and Loss from Operations to Non-GAAP Financial Measures
(Unaudited, in thousands, except percentages)
Three Months Ended March 31,
2026 2025
Gross profit $ 15,566 $ 14,838
Purchase accounting impact on inventory and property and equipment (1) 199 —
Amortization of acquired intangible assets (2) 2,772 227
Adjusted gross profit (non-GAAP) $ 18,537 $ 15,065
Total revenues $ 36,415 $ 30,333
Gross margin (gross profit as % of total revenues) 42.7% 48.9%
Adjusted gross margin (non-GAAP) (adjusted gross profit as % of total revenues) 50.9% 49.7%
Total operating expenses $ 56,928 $ 41,204
Purchase accounting impact on property and equipment (1) (223) —
Amortization of acquired intangible assets (2) (77) —
Acquisition and integration related costs (3) (1,152) (3,578)
Earnout recorded as compensation expense (4) — (3,744)
Impairment and employee separation costs (5) (20,787) —
Adjusted total operating expenses (non-GAAP) $ 34,689 $ 33,882
Loss from operations $ (41,362) $ (26,366)
Purchase accounting impact on inventory and property and equipment (1) 422 —
Amortization of acquired intangible assets (2) 2,849 227
Acquisition and integration related costs (3) 1,152 3,578
Earnout recorded as compensation expense (4) — 3,744
Impairment and employee separation costs (5) 20,787 —
Adjusted loss from operations (non-GAAP) $ (16,152) $ (18,817)
(1)Represents the amortization of the purchase price fair value increase of acquired inventory and property and equipment.
(2)Consists only of the amortization of intangible assets acquired in 2025.
(3)Represents acquisition and integration costs directly related to the Company's business combinations. Acquisition costs include professional and consulting fees supporting due diligence, legal, and accounting activities to execute a transaction. Integration costs include third party and internal direct costs to integrate acquired companies, employees, and their customers.
(4)Consists of the earnout recognized as compensation expense related to the Emission acquisition.
(5)Impairment charges for an intangible asset related to the termination of a diagnostics development agreement assumed in the acquisition of Akoya, as well as one-time severance and related costs.
Contact:
Joshua Young
(508) 846-3327
ir@quanterix.com
EX-99.2
EX-99.2
Filename: q1-26earningspresentatio.htm · Sequence: 3
q1-26earningspresentatio
First Quarter 2026 Earnings Presentation May 6, 2026
Legal Information CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Statements included in this presentation that are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements about Quanterix’s future business outlook, operations, strategy and financial performance, including statements related to our expectations about consistent profitable revenue growth and achieving cash flow breakeven performance, the development and commercialization of our products, the benefits and synergies we may realize from the acquisition of Akoya Biosciences Inc., and under the header “2026 Business Outlook.”. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forwardlooking statements. Forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities with respect to Quanterix’s future business, operations, strategy and financial performance: risks related to the impact of changes in U.S. government policies, including impacts of tariffs and reductions in federal research funding; risks associated with the anticipated timing for launch of, and features of, Quanterix’s next-generation instruments to upgrade its existing platforms; risks related to Quanterix’s ability to improve existing diagnostics and develop new diagnostic tests and tools; risks related to Quanterix’s ability to successfully penetrate the diagnostics market; risks related to Quanterix’s ability to retain and expand its customer base and achieve sufficient market acceptance of its products; risks related to the ability of Quanterix’s contract manufacturers and suppliers to reliably and consistently manufacture and supply our instruments; risks that Quanterix may fail to realize the anticipated benefits and synergies of its recent acquisitions of Emission, Inc. and Akoya Biosciences Inc.; risk that integrating Quanterix’s business with that of Akoya could be more difficult, costly or time-consuming than expected; risks that Quanterix’s estimates regarding expenses, future revenues, capital requirements, and needs for additional financing could be incorrect; risks related to Quanterix’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; and risks related to defects or other quality issues in Quanterix’s products that could lead to unforeseen costs, product recalls, adverse regulatory actions, negative publicity and litigation. Additional factors that could cause results to differ materially from those described above can be found in the periodic reports filed by Quanterix with the SEC, including the “Risk Factors” sections contained therein, which are available on the SEC’s website at www.sec.gov. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if Quanterix’s underlying assumptions prove to be incorrect, actual results may differ materially from what Quanterix anticipates. Quanterix cautions the audience not to place undue reliance on any such forwardlooking statements, which speak only as of the date they are made and are based on information available at that time. Quanterix does not assume any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. USE OF NON-GAAP FINANCIAL MEASURES To supplement Quanterix's preliminary financial information presented on a U.S. GAAP basis, Quanterix has provided certain non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, adjusted cash usage, adjusted gross profit, adjusted gross margin, adjusted total operating expenses, and adjusted loss from operations. Management uses these non-GAAP financial measures to evaluate the Company's operating performance in manner that allows for meaningful period-to-period comparison and analysis of trends in our business and our competitors. Management believes that presentation of these non- GAAP financial measures provides useful information to investors in assessing our operating performance within our industry and in order to allow comparability to the presentation of other companies in our industry. The non-GAAP financial measures presented herein should be considered in conjunction with, and not as a substitute for, the financial information presented in accordance with U.S. GAAP. For example, adjusted EBITDA excludes a number of expense items that are included in net loss and adjusted cash usage excludes certain actual cash payments. As a result, positive adjusted EBITDA or positive adjusted cash usage may be achieved even where we record a significant net loss or reduction in our cash and marketable securities balances in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures set forth herein. The Company makes certain forward-looking statements about Quanterix's future financial performance that include non-GAAP financial measures, which are difficult to predict for future periods because the nature of the adjustments pertains to events that have not yet occurred. Quanterix does not forecast many of the excluded items for internal use and therefore information reconciling forward-looking non-GAAP financial measures to U.S. GAAP financial measures is not available without unreasonable effort and is not provided. The occurrence, timing, and amount of any of the items excluded from U.S. GAAP to calculate non-GAAP financial measures could significantly impact our U.S. GAAP results. Please refer to our first quarter 2026 earnings release for additional discussion of non-GAAP financial measures. Unless otherwise specified, all information contained herein is provided as of March 31, 2026. 2
Remain committed to delivering cash flow breakeven performance in 2H 2026 • No change from previous outlook • $85M of cost synergies realized • Maintaining guidance for full year 2026 Making investments to improve commercial effectiveness in 2026 • Investing in partners, senior leaders, product management, and lead generation Strengthening diagnostics business with additional investment • Recently hired new SVP of Diagnostics with 25 years of experience • Preparing HD-X for IVD submission in 2027 • Investing in lab infrastructure and marketing to increase mindshare Q1-26: Key Messages 3
CEO Priorities Execute to plan Meet quarterly plans and reach cash flow breakeven Strategic Roadmap Reinforcing our IVD strategy and strengthening our position in ultra-sensitive protein detection Build AD Diagnostics Accelerate Dx investment in 2026 towards improving workflow, build lab infrastructure and increase share of mind for LucentAD Improve commercial execution Solidify diagnostics position Accelerate revenue growth 4
5 Our product roadmap priorities in 2026 Reinforcing our IVD strategy and strengthening our position in ultra-sensitive protein detection HD-X IVD SP-XSR-X Priorities Outcome Simoa HD-X IVD HD-X IVD submission in 2027 Continue to invest in new neurology markers, e.g., tauopathies Spatial HT 2.0 PCF New reagents to support clinical applications Expand panels for discovery applications Research and Clinical HT 2.0PCF Sustain
Best-in-class Multi-marker Test Building Infrastructure 100% patient readouts vs 70% for competitors 10% Intermediate zone vs 30% of competitors HD-X IVD Instrument IVD submission in 2027 Driving Adoption $897 pricing received for LucentAD Test Coverage impactful studies to support payor outreach in 2026 FDA Clearance submitted – expected in 2026 Building a in AD Diagnostics 6
7 2024: LucentAD Complete Multi-marker RUO/LDT launched 2023: pTau181 and pTau217 Single markers RUO/LDT launched 2025: $897 Received CMS reimbursement pricing Q1 Q2 2025 and before 2026 Milestones FDA Submitted Start lab billing 2027 Milestones Receive test coverage reimbursement & paymentComplete pivotal clinical studies Receive FDA clearance Payor outreach Submit HD-X for IVD (510K) supports research and expands diagnostics AD Diagnostics: Timeline of planned activities Key activities across platform, clinical, and access H2
8 AD Diagnostics: Clinical Studies in progress MGH – CIMBBBA Mt. Sinai-DAC University of Florida BioHermes-2 Enrollment Setting Objective Impact • Specialty care • Primary care • Specialty care • Primary care • Community-based clinical trial • Clinical Validity • Clinical Utility • Real World Setting • Clinical Utility • Outcomes • Real World Setting • Feasibility • Implementation • Real World Setting • Clinical Validity • CMS • Commercial Payors • Guidelines • CMS • Commercial Payors • Guidelines • Commercial Payors • CMS • Commercial Payors 100% Publication est. Q3 80% Publication est. Q3/Q4 100% Publication est. Q3 >90% Multiple studies ongoing to support clinical value
Q3 2025 Q4 2025 Q1 2026 $85M cost reduction plan successfully implemented Major Milestones Cost Reduction Implemented (Annualized) Complete physical consolidation Implement one commercial team Eliminate duplicate G&A Implement one manufacturing team Combine Lab Services Systems and process integration $74M $85M $29M Q2 2025 $64M Cost Reduction Realized (in the quarter) $3M $12M Pre-close cost actions in commercial and operations $15M $18M Synergies Leading to Cash Flow Breakeven in 2026 9
Spatial Simoa Number of Drug Trial Projects (Simoa Only) PUBLICATIONS BIOMARKERS INSTRUMENTS 772 2,141 2022 1,160 2,781 2023 1,733 3,278 2024 2,370 3,948 2025 2,445 4,108 2026 YTD 2,913 3,941 5,011 6,318 6,553 538 559 568 579 583 104 111 134 189 189 2022 2023 2024 2025 2026 YTD 642 670 702 768 772 876 972 934 2022 1,183 2023 1,330 1,035 2024 1,439 1,099 2025 1,450 1,115 2026 YTD 1,810 2,155 2,365 2,538 2,565 23.6 27.8 38.0 19.9 3.5 7.3 16.7 15.8 8.6 168 256 283 287 2022 205 2023 2024 2025 0.8 2026 YTD 30.9 44.5 53.8 28.6 4.3 LAB SERVICES CumulativeCumulative Projects & Revenue ($M) Placements # of units placed, cumulative Scientific Validation Driving Adoption 10
Q1 GAAP* Q1 Non-GAAP 2025 2026 2025 2026 Var % Revenue 30.3 36.4 30.3 36.4 20% Gross Margin $ 14.8 15.6 15.1 18.5 23% Gross Margin % 48.9% 42.7% 49.7% 50.9% 124 bps Operating Expense 41.2 56.9 33.9 34.7 -2% Operating Loss -26.4 -41.4 -18.8 -16.2 14% Adj’d EBITDA -11.3 -9.8 13% Cash Usage -22.2 -19.0 -9.0 -14.7 -63% 11% 59% 12% 18% Instruments Consumables Accelerator Other Q1’26 Revenue Mix ** Includes $0.5M related to a terminated diagnostics development agreement 2.6 2.3 1.7 $4.0 Q1'25 Q1'26 Instruments 18.1 14.5 6.9 $21.4 Q1'25 Q1'26 Consumables 5.6 3.5 0.8 $4.3 Q1'25 Q1'26 Lab Services** 4.0 3.7 3.0 $6.7 Q1'25 Q1'26 Other Q1’26 Revenue Spatial Simoa * Updated to reflect a change in accounting policy in Q1’26 related to shipping and handling costs. Shipping and handling costs for product sales are now recorded in cost of product revenue in our GAAP financials. Q1’26 Results vs Q1’25 (in $M) 11
* Includes $0.6M revenue recorded in the 1st week of July, prior to Quanterix’s acquisition of Akoya As part of the acquisition of Akoya, the Company assumed a diagnostics development agreement, which had unfavorable terms, and was recorded as an off- market contract. In Q1 2026, Quanterix and this diagnostics customer terminated the agreement. To provide a meaningful period-to-period comparison, the table below summarizes total revenues as reported quarterly from January 1, 2025 by Quanterix (“Simoa”) and Akoya (“Spatial Biology”), with an adjustment showing the impact as if the agreement had terminated on January 1, 2025. in $M 2025 2026 YOY V% Q1 Q2 Q3 Q4 FY Q1 Q1 Simoa 30.3 24.5 23.0 27.3 105.2 24.0 -21% Spatial Biology 16.6 18.2 17.8* 16.5 69.2 12.4 -26% Total Revenue 47.0 42.7 40.9 43.9 174.4 36.4 -22% Spatial Diagnostics Program (0.5) (0.3) (2.4) (2.5) (5.6) (0.5) 5% Adjusted Revenue 46.5 42.4 38.5 41.4 168.8 35.9 -23% Revenue as Reported 30.3 24.5 40.2 43.9 138.9 36.4 20% Q1’26 Revenue – Comparative Information 12
Full Year Revenue: $169 to $174 million 0–3% revenue growth after the effect of a terminated diagnostics development agreement Gross Margin GAAP gross margin between 41 to 45%* Adjusted gross margin (Non-GAAP) between 49% to 53% Anticipate cash flow breakeven in the 2nd half of 2026 Exit the year with ~$100 million in cash, and no debt * No change to underlying GAAP guide; guidance range is updated to reflect a change in accounting policy in Q1’26 related to shipping and handling costs. Shipping and handling costs for product sales are now recorded in cost of product revenue in our GAAP financials, and represent a 4% change. Maintaining 2026 Guidance 13
Adjusted EBITDA (non-GAAP) 14
Adjusted Cash Usage (non-GAAP) 15
Additional Non-GAAP Financial Measures 16
Contact Us General inquiries 900 Middlesex Turnpike, Billerica, MA 01821 USA 617.301.9400 info@quanterix.com www.quanterix.com
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