Quanterix (QTRX) investor relations material

Executive summary

• Achieved Q3 2025 revenue of $40.2 million, up 12–12.3% year-over-year, meeting expectations despite challenging market conditions and ongoing integration of Akoya.

• Integration of Akoya and Spatial platforms progressing ahead of plan, with $67 million of $85 million targeted synergies already realized and cash flow breakeven targeted for 2026.

• Investments in Alzheimer's diagnostics and new assays continue, with $27 million invested in R&D year-to-date, nearly 30% of revenue.

• Net loss widened to $33.5 million for Q3 2025, reflecting higher operating, acquisition, and restructuring costs.

• Early commercial momentum seen in cross-selling between Simoa and Spatial portfolios, especially in neurology and oncology.

Financial highlights

• Q3 2025 revenue: $40.2 million (up 12–12.3% year-over-year); nine-month revenue: $95.0 million (down from $102.3 million year-over-year).

• GAAP gross margin: 42.8% (down from 56.3% year-over-year); adjusted gross margin: 45.9% (down from 50.7% year-over-year).

• Adjusted EBITDA loss: $11.9 million (vs. $5.5 million loss year-over-year); net loss: $33.5 million (vs. $8.4 million year-over-year).

• Operating expenses: $54.5 million (including $15 million in acquisition/integration costs); non-GAAP operating expenses: $38.2 million.

• Ended Q3 with $134.8–$138.1 million in cash, cash equivalents, and marketable securities; expects ~$120 million at year-end.

Outlook and guidance

• 2025 revenue expected at $130–$135 million; pro forma revenue (if fully combined) would be $165–$170 million.

• GAAP and non-GAAP gross margin expected between 45–47% for 2025.

• Adjusted cash usage for 2025 projected at $34–$38 million; year-end cash expected at ~$120 million with no debt.

• Cash flow breakeven targeted for 2026, driven by $85 million in annualized cost synergies.

• Additional cost reductions and restructuring planned into early 2026.