Original from: Quanterix

 

Quanterix Corporation (NASDAQ: QTRX), a company transforming healthcare by accelerating biomarker breakthroughs from discovery to diagnostics, today announced financial results for the third quarter ended September 30, 2025

 

“During the third quarter, we delivered on our revenue expectations despite challenging market conditions,” said Masoud Toloue, Chief Executive Officer of Quanterix. “Equally important, we achieved key integration milestones from our Akoya transaction — keeping us firmly on track to realize $85 million in annualized synergies and reach cash flow break-even in 2026. Together, we have built a stronger, more scalable company with the foundation to drive sustained growth, profitability, and cash flow in the years ahead.”

 

“Our Alzheimer’s diagnostics business also continues to accelerate. With a positive Medicare pricing recommendation and expanding partnerships across Asia, we are advancing toward a future where blood-based testing for neurodegenerative disease becomes standard clinical practice — and Quanterix is at the center of that transformation.”

 

Third Quarter Financial Highlights

· Revenue of $40.2 million, an increase of 12.3% compared to $35.8 million in the prior year.

· GAAP gross margin of 42.8%, as compared to 56.3% in the prior year. Adjusted gross margin (non-GAAP) of 45.9% as compared to 50.7% in the prior year.

· Adjusted EBITDA (non-GAAP) loss of $11.9 million, compared to a loss of $5.5 million in the prior year. The increase is primarily related to higher acquisition and restructuring charges.

· The Company ended the third quarter with $138.1 million of cash, cash equivalents, marketable securities, and restricted cash. Adjusted cash usage, after accounting for one-time deal and restructuring costs, was $16.1 million. Adjusted cash usage is expected to decline in Q4 2025 due to improved working capital performance and a full quarter effect of cost synergies. The company continues to expect it will end 2025 with approximately $120 million in cash, cash equivalents, marketable securities, and restricted cash.

 

Operational and Business Highlights

· Executed key integration activities in the quarter, capturing $67 million of cost synergies and savings. Key integration milestones include:

· Commercial: Combined the Quanterix and Akoya sales organizations, under one sales leadership, selling one combined portfolio of products.

· Operations: Consolidated four manufacturing and lab facilities into two main sites in Billerica and Burlington Massachusetts.

· Back Office/G&A: Eliminated nearly all redundant public company costs and initiated a series of IT systems integrations.

· Established new partnerships in the Asia-Pacific region, including All-Eight (Singapore); Union Clinical Laboratory (Taiwan); and NSW Health Pathology (Australia).

· Launched eight new Simoa assays through the first nine months of the year.

· Delivered multiple recent spatial and immuno-oncology presentations, including more than a dozen poster presentations, at the 40th annual Society for Immunotherapy of Cancer (SITC), demonstrating growing adoption of Quanterix’s high-plex spatial proteomics and AI-driven analysis platforms, underscoring their translational impact in uncovering immune resistance mechanisms and predictive biomarkers across multiple cancer indications. The Company also launched a new Metabolism Spike-in Module, designed for the PhenoCycler-Fusion and the PhenoCode™ Discovery IO60 Human Protein Panel.

 

2025 Full Year Business Outlook

The Company is reiterating its previous guidance for 2025 revenues to be in a range of $130 to $135 million, which includes approximately two quarters of performance from Akoya. On a pro forma basis, assuming the two companies were combined for the full year, the Company expects to generate 2025 revenue of between $165 and $170 million.

 

Quanterix expects GAAP and adjusted gross margin (non-GAAP) to be in the range of 45% to 47%.

 

Finally, the Company anticipates 2025 adjusted cash usage to be approximately $34 to $38 million. With the previously announced expense reductions, Quanterix expects to exit 2025 with approximately $120 million in cash, cash equivalents, marketable securities, and restricted cash and expects to achieve cash flow breakeven performance in 2026.

 

Source: Quanterix Releases Financial Results for the Third Quarter of 2025