Quanterix Releases Financial Results for the Second Quarter of 2026

Reports $32.9 million in revenue and $96.9 million of cash and marketable securities Company accelerating initiatives to drive commercial effectiveness Revises financial outlook for 2026 and extends date for attaining cash-flow break-even BILLERICA, Mass.--(BUSINESS WIRE)--Aug. 10, 2026-- Quanterix Corporation (NASDAQ: QTRX), a global leader in precision biomarker science, today announced financial results for the second quarter ended June 30, 2026. “We made meaningful progress in the second quarter, including strengthening our leadership team and preserving cash better than planned. However, revenue fell short of our expectations, driven by execution challenges and continued market softness. We are taking immediate and significant action to improve commercial performance, including reorganizing our teams and adding seasoned leadership to sharpen accountability, accelerate execution, and improve operating results in the second half and beyond,” said Everett Cunningham, President & CEO of Quanterix. “We remain confident in the strength and differentiated positioning of both our research tools and diagnostics businesses, especially with enhanced commercial leadership and discipline enabling a renewed focus on returning to sustained growth. Our capabilities in ultra-sensitive protein-detection in blood and high plex spatial analysis in tissue, combined with a differentiated multi-analyte approach, position us well across targeted translational research and diagnostics. With strategic Diagnostics investments underway, our management team can now focus on achieving key milestones in Alzheimer’s disease testing, including completing three clinical utility studies and advancing our FDA roadmap.” Second Quarter Financial Highlights Revenue of $32.9 million, an increase of 34% compared to $24.5 million in the prior year. GAAP gross margin of 38.5%, as compared to 40.9% in the prior year. Adjusted gross margin (non-GAAP) of 47.9% compared to 41.8% in the prior year. Prior year GAAP 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 the cost of product revenue in the Company’s GAAP financials. Adjusted EBITDA (non-GAAP) loss of $10.0 million, compared to $13.7 million in the prior year. The Company ended the second quarter with $96.9 million of cash, cash equivalents, marketable securities, and restricted cash. Adjusted cash usage, after accounting for integration and certain employee separation costs of $1.7 million, was $4.0 million in the second quarter, a decrease in usage of $10.8 million from the first quarter of 2026. The Company completed its ERP system integration, the final step of the Akoya acquisition integration program that realized $85 million in savings on an annualized basis. Quanterix incurred a $26.9 million goodwill impairment related to the Akoya acquisition as required under GAAP accounting based on recent circumstances within the business. The adjustment does not impact operations or liquidity. Operational and Business Highlights Quanterix finished building its senior management team ahead of its anticipated higher growth phase, especially in the Diagnostics business. Jim Gute was named Chief Commercial Officer, as announced separately today. Industry veteran Geoff Albrecht was appointed Senior Vice President and General Manager of Diagnostics, Anthony Catalano was named Chief Operating Officer and Jason Faessler was appointed Chief Financial Officer. Several milestones to advance clinical adoption of blood-based Alzheimer’s testing were announced, including commercial insurance coverage. Beginning July 1, 2026, members covered under Anthem Blue Cross and Blue Shield medical policies can receive coverage for qualifying blood-based biomarker testing, including Quanterix’s Lucent AD® Complete, when medical necessity criteria are met. A peer-reviewed study evaluating Lucent AD® Complete alongside an algorithmic immunoprecipitation mass spectrometry (IP-MS) approach on a shared patient cohort demonstrated the high diagnostic parity and three-fold reduced diagnostic ambiguity provided by Quanterix’s multi-analyte algorithmic blood testing approach. New clinical data presented at the Alzheimer’s Association International Conference (AAIC) 2026 highlighted how multi-biomarker testing improves detection of early Alzheimer's and provides a more comprehensive framework for guiding patient care. Quanterix was selected as a Co-Investigator institution in the PD-BUILD program, in the Aligning Science Across Parkinson’s Collaborative Research Network 2026 expansion, supported by The Michael J. Fox Foundation. This multi-year grant funds development and deployment of high-quality biomarker tools aimed at enabling earlier detection, improved patient stratification, and more effective monitoring of Parkinson’s disease in clinical research. Quanterix and its Simoa platform will develop and distribute validated single-plex and multiplex biomarker assays to Parkinson’s disease researchers globally. Quanterix launched Simoa® Ultra-Sensitive Immunoassay NPTX2, an important emerging synaptic biomarker. Two new spatial products were launched: Spatial Molecular Barcoding kit for the Phenocycler Fusion for early access and Spatial Spectral DAPI 2.0 for the Phenoimager HT. 2026 Business Outlook Quanterix currently expects revenues of $142-148 million, which assumes no underlying improvement in the academic or pharmaceutical end markets, compared to its earlier expectation for annual revenues of $169-174 million. In addition, we expect non-GAAP gross margins in a range of 48-50%, compared to non-GAAP gross margins of 49-53% previously. Quanterix now anticipates achieving cash flow breakeven in 2027 but is currently forecasting approximately $80 million for the 2026 year-end cash balance, compared to $100 million previously. The company expects to end the year with no debt. Conference Call In conjunction with this announcement, the Company will host a conference call today, August 10, 2026, at 8:30 AM ET. The dial-in number for USA & Canada is Toll-Free (800) 715-9871 or (646) 307-1963 and the conference ID is 9896910. 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 precision biomarker science, making biology measurable to deliver earlier insights and support breakthroughs in disease research, diagnostics, and drug development. Its Simoa® technology delivers industry-leading sensitivity, allowing researchers to detect and quantify biomarkers in blood and other fluids at concentrations far below traditional limits. Through the acquisition of Akoya Biosciences, Quanterix Spatial solutions deliver high-plex, quantitative protein analysis in tissue at single-cell resolution. Combined with Accelerator Laboratory services, Quanterix gives researchers the tools and expertise to translate discovery into precision 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, 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 from its recent acquisitions of Emission, Inc. and Akoya Biosciences, Inc.; 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 (unaudited, amounts in thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues: Product revenue $ 23,476 $ 16,832 $ 48,956 $ 37,572 Service and other revenue 9,018 7,112 19,394 $ 15,935 Collaboration and license revenue 412 532 972 $ 1,303 Total revenues 32,906 24,476 69,322 54,810 Costs of goods sold and services: Cost of product revenue 14,621 10,594 29,761 $ 21,935 Cost of service and other revenue 5,611 3,881 11,320 $ 8,035 Total costs of goods sold and services 20,232 14,475 41,081 29,970 Gross profit 12,674 10,001 28,241 24,840 Operating expenses: Research and development 7,821 9,081 15,144 19,117 Selling, general and administrative 27,350 30,350 57,121 61,520 Impairment and restructuring costs 26,934 7,670 46,769 7,670 Total operating expenses 62,105 47,101 119,034 88,307 Loss from operations (49,431 ) (37,100 ) (90,793 ) (63,467 ) Other income (expense), net: Interest income 761 2,692 1,653 5,962 Change in fair value of contingent liabilities (79 ) 4,273 1,422 3,894 Other income (expense), net (239 ) 49 21,182 108 Loss before income taxes (48,988 ) (30,086 ) (66,536 ) (53,503 ) Income tax benefit 54 73 61 2,986 Net loss $ (48,934 ) $ (30,013 ) $ (66,475 ) $ (50,517 ) Net loss per common share, basic and diluted $ (1.04 ) $ (0.77 ) $ (1.41 ) $ (1.30 ) Weighted-average common shares outstanding, basic and diluted 47,167 38,893 47,068 38,801 QUANTERIX CORPORATION CONSOLIDATED BALANCE SHEETS (unaudited, amounts in thousands, except per share data) June 30, 2026 December 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 44,169 $ 29,839 Marketable securities 49,360 88,393 Accounts receivable, net of allowance for expected credit losses 22,345 29,972 Inventory 47,601 54,763 Prepaid expenses and other current assets 7,576 9,290 Total current assets 171,051 212,257 Restricted cash 3,348 3,341 Property and equipment, net 20,002 23,672 Intangible assets, net 105,782 131,787 Goodwill — 26,376 Operating lease right-of-use assets 15,053 16,664 Other non-current assets 4,391 4,669 Total assets $ 319,627 $ 418,766 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 8,892 $ 13,568 Accrued compensation and benefits 10,293 14,979 Accrued expenses and other current liabilities 8,483 17,571 Deferred revenue 14,892 20,728 Operating lease liabilities 7,813 7,916 Total current liabilities 50,373 74,762 Deferred revenue, net of current portion 2,502 5,830 Operating lease liabilities, net of current portion 25,574 29,323 Non-current portion of contingent liabilities 3,265 5,024 Other non-current liabilities 701 8,097 Total liabilities 82,415 123,036 Total stockholders’ equity 237,212 295,730 Total liabilities and stockholders’ equity $ 319,627 $ 418,766 QUANTERIX CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, amounts in thousands) Six Months Ended June 30, 2026 2025 Cash flows from operating activities: Net loss $ (66,475 ) $ (50,517 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense 11,737 4,187 Credit losses on accounts receivable 516 (262 ) Accretion of marketable securities (202 ) (1,567 ) Operating lease right-of-use asset amortization 1,601 850 Stock-based compensation expense 8,739 10,834 Impairment 46,769 6,374 Change in fair value of contingent liabilities (1,422 ) (3,894 ) Recognition of off-market liability (13,975 ) — Other operating activity (558 ) (370 ) Changes in assets and liabilities: Accounts receivable 6,817 9,476 Inventory 7,652 2,993 Prepaid expenses and other current assets 1,561 1,942 Accounts payable (6,763 ) 2,796 Accrued compensation and benefits, accrued expenses, and other current liabilities (6,377 ) 1,605 Deferred revenue (9,163 ) 583 Net change in other operating assets and liabilities (3,683 ) (4,573 ) Net cash used in operating activities (23,226 ) (19,543 ) Cash flows from investing activities: Purchases of marketable securities (8,245 ) (30,245 ) Proceeds from sales and maturities of marketable securities 47,354 135,874 Purchases of property and equipment (183 ) (2,033 ) Acquisitions, net of cash acquired — (8,954 ) Net cash provided by investing activities 38,926 94,642 Cash flows from financing activities: Deferred acquisition payments (1,439 ) — Principal payments on financing leases (171 ) — Proceeds from common stock issued under stock plans 340 668 Payments for employee taxes withheld on stock-based compensation awards (27 ) (1,004 ) Net cash used in financing activities (1,297 ) (336 ) Net increase in cash, cash equivalents, and restricted cash 14,403 74,763 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (66 ) 1,455 Cash, cash equivalents, and restricted cash at beginning of period 33,180 59,319 Cash, cash equivalents, and restricted cash at end of period $ 47,517 $ 135,537 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, impairments, 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, impairments, 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 first quarter of 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, these shipping and handling costs were recorded in selling, general and administrative expenses, and we calculated our non-GAAP financial measures by including these shipping and handling costs within cost of product revenue. We applied this change in accounting policy retrospectively to all periods presented, 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 allows 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 “Reconciliations 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, amounts in thousands, except percentages) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net loss $ (48,934 ) $ (30,013 ) $ (66,475 ) $ (50,517 ) Interest income (761 ) (2,692 ) (1,653 ) (5,962 ) Income tax benefit (54 ) (73 ) (61 ) (2,986 ) Depreciation and amortization 6,134 1,999 11,737 4,187 Stock-based compensation expense (1) 4,212 5,373 8,388 10,834 Acquisition and integration related costs (2) 852 4,139 2,004 7,717 Earnout recorded as compensation expense (3) — 4,156 — 7,900 Changes in contingent liabilities (4) 79 (4,273 ) (1,422 ) (3,894 ) Impairment and employee separation costs (5) 28,483 7,670 49,271 7,670 Income from contract termination (6) — — (21,596 ) — Adjusted EBITDA (non-GAAP) $ (9,989 ) $ (13,714 ) $ (19,807 ) $ (25,051 ) Total revenues $ 32,906 $ 24,476 $ 69,322 $ 54,810 Adjusted EBITDA margin (non-GAAP) (adjusted EBITDA as a % of revenue) (30.4 )% (56.0 )% (28.6 )% (45.7 )% (1) Stock-based compensation expense for certain individuals is 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 liabilities from acquisitions. (5) Impairment charges for goodwill and an intangible asset related to the termination of a diagnostics development agreement assumed in the acquisition of Akoya, as well as certain 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 Gross Profit, Gross Margin, Total Operating Expenses and Loss from Operations to Non-GAAP Financial Measures (unaudited, amounts in thousands, except percentages) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Gross profit $ 12,674 $ 10,001 $ 28,241 $ 24,840 Purchase accounting impact on inventory and property and equipment (1) 203 — 402 — Amortization of acquired intangible assets (2) 2,886 234 5,658 461 Adjusted gross profit (non-GAAP) $ 15,763 $ 10,235 $ 34,301 $ 25,301 Total revenues $ 32,906 $ 24,476 $ 69,322 $ 54,810 Gross margin (gross profit as % of total revenues) 38.5 % 40.9 % 40.7 % 45.3 % Adjusted gross margin (non-GAAP) (adjusted gross profit as % of total revenues) 47.9 % 41.8 % 49.5 % 46.2 % Total operating expenses $ 62,105 $ 47,101 $ 119,034 $ 88,307 Purchase accounting impact on property and equipment (1) (969 ) — (1,192 ) — Amortization of acquired intangible assets (2) (50 ) — (127 ) — Acquisition and integration related costs (3) (852 ) (4,139 ) (2,004 ) (7,717 ) Earnout recorded as compensation expense (4) — (4,156 ) — (7,900 ) Impairment and employee separation costs (5) (28,484 ) (7,670 ) (49,270 ) (7,670 ) Adjusted total operating expenses (non-GAAP) $ 31,750 $ 31,136 $ 66,441 $ 65,020 Loss from operations $ (49,431 ) $ (37,100 ) $ (90,793 ) $ (63,467 ) Purchase accounting impact on inventory and property and equipment (1) 1,172 — 1,594 — Amortization of acquired intangible assets (2) 2,936 234 5,785 461 Acquisition and integration related costs (3) 852 4,139 2,004 7,717 Earnout recorded as compensation expense (4) — 4,156 — 7,900 Impairment and employee separation costs (5) 28,484 7,670 49,270 7,670 Adjusted loss from operations (non-GAAP) $ (15,987 ) $ (20,901 ) $ (32,140 ) $ (39,719 ) (1) Represents 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 goodwill and an intangible asset related to the termination of a diagnostics development agreement assumed in the acquisition of Akoya, as well as certain one-time severance and related costs. Reconciliation of Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash to Adjusted Cash Usage (non-GAAP) (unaudited, amounts in thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net increase in cash, cash equivalents, and restricted cash $ 8,017 $ 55,796 $ 14,403 $ 74,763 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (26 ) 594 (66 ) 1,455 Net change in marketable securities (13,723 ) (62,093 ) (39,033 ) (104,137 ) Cash usage (5,732 ) (5,703 ) (24,696 ) (27,919 ) Adjustments: Acquisition and integration related payments (1) 1,092 1,987 3,202 14,077 Payment of employee separation costs (2) 649 1,073 2,731 1,073 Payments related to restatement costs (3) — — — 1,102 Adjusted cash usage (non-GAAP) $ (3,991 ) $ (2,643 ) $ (18,763 ) $ (11,667 ) (1) Represents cash payments towards acquisition and integration related activities, including the cash purchase price of an acquired business. (2) Represents cash payments for certain 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260810542022/en/ Media Contact: [email protected] Investor Relations Contact: [email protected] Source: Quanterix Corporation