Quanterix (QTRX) Provides Update on Financial Performance

Quanterix Corporation (NASDAQ: QTRX), a company fueling scientific discovery through ultrasensitive biomarker detection, today announced selected preliminary, unaudited results for the fourth quarter and full year ended December 31, 2024.

“I am pleased with our team’s execution as we delivered our seventh consecutive quarter of double-digit revenue growth,” said Masoud Toloue, PhD, President and Chief Executive Officer of Quanterix. “Despite a difficult capital spending environment, Quanterix has shown operational resiliency, and we expect to continue to build on this performance, as we enter 2025 from a position of strength. I am also excited about our recently announced acquisition of Akoya Biosciences. We believe we can create tremendous value by driving new growth and applying the same robust execution to the combined company.”

Selected Preliminary, Unaudited Fourth Quarter 2024 Financial Results

• Revenue of approximately $34.9 million for the three months ended December 31, 2024, representing 11% year-over-year growth.
  • Instruments revenue of approximately $3.1 million, representing a 6% year-over-year decline.
  • Consumables revenue of approximately $17.4 million, remaining flat year-over-year.
  • Accelerator revenue of approximately $8.6 million, representing 22% year-over-year growth. As previously disclosed, the fourth quarter performance does not include $1.5 million of revenue from an order under an agreement with Eli Lilly, which was completed in the third quarter of 2024.
  • Other revenue of approximately $5.8 million, representing 57% year-over-year growth.
• The Company used approximately $4.4 million of cash in the quarter ended December 31, 2024.

Selected Preliminary, Unaudited Full Year 2024 Financial Results

• Revenue of approximately $137.2 million for the twelve months ended December 31, 2024, representing 12% year-over-year growth.
  • Instruments revenue of approximately $10.5 million, representing a 33% year-over-year decline.
  • Consumables revenue of approximately $69.3 million, representing year-over-year growth of 8%.
  • Accelerator revenue of approximately $38.0 million, representing year-over-year growth of 36%.
  • Other revenue of approximately $19.4 million, representing year-over-year growth of 30%.
• The Company ended December 31, 2024 with cash, cash equivalents, marketable securities and restricted cash of approximately $292 million. The Company used approximately $32 million of cash in the twelve months ended December 31, 2024.

The Company’s unaudited, preliminary 2024 financial results are based on current expectations and do not represent a comprehensive statement of the Company’s financial results for the fourth quarter or full year 2024. These unaudited, preliminary results remain subject to the completion of financial closing procedures, internal reviews, and annual audit procedures.

J.P. Morgan Healthcare Conference

As previously announced, Quanterix’s President and Chief Executive Officer Masoud Toloue will present at the 43rd Annual J.P. Morgan Healthcare Conference taking place at the Westin St. Francis Hotel in San Francisco, CA. Quanterix’s presentation will be on Wednesday, January 15, 2025, at 4:30 p.m., PST. In addition to the session, Quanterix will also host one-on-one meetings with institutional investors during the conference. A live webcast of the Company's presentation and question and answer session will be available on the "Investors" section of the Company's website.

Earnings Call to Be Held on March 17, 2025

Quanterix also announced that it will release its fourth quarter and full year 2024 financial results on Monday, March 17, 2025.

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