QTRX

Image source: The Motley Fool. Monday, Aug. 10, 2026 at 8:30 a.m. ET Investor Relations - Mary Conway President and Chief Executive Officer - Everett Cunningham Chief Financial Officer - Jason Faessler Senior Vice President and General Manager of Diagnostics - Geoff Albrecht Operator: Thank you for standing by. My name is Carly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Quanterix Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Mary Conway, Investor Relations. Mary Conway: Thank you and good morning. With me on today's call are Everett Cunningham, Quanterix's President and CEO, and Jason Fessler, Quanterix's new Chief Financial Officer. Today's call is being recorded and a replay of the call will be available on the Investor section of our website. We will make forward-looking statements covered under the U.S. Private Securities Litigation Reform Act. These forward-looking statements are based on management's beliefs and assumptions as of today, August 10, 2026. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. To supplement our financial statements presented on a GAAP basis, we have provided certain non-GAAP financial measures. These non-GAAP measures are used to evaluate 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 such measures are important in comparing current results with other periods' results and assessing our operating performance within our industry. Non-GAAP financial information presented herein should be considered in conjunction with and not as a substitute for the financial information presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures set forth in the presentation posted to our website and in the earnings release issued today. Finally, any percentage changes that we discuss will be on a year-over-year basis unless otherwise noted. Now, I'd like to turn the call over to Everett Cunningham. Everett Cunningham: Thanks, Mary. I'm pleased to be with all of you here this morning to bring you up to date on both our second quarter results and our plans for the back half of this year. We are revising our expectations and we want to be transparent about our actions and intended impacts. Our first half results were not what we anticipated based upon market softness and executional challenges, even though our cash preservation efforts were better than planned. As a result, we are taking speedy action to address execution, as I'll describe momentarily, but this performance will affect our annual outlook. Let me start by addressing the specifics around what contributed to Q2's results, then share more details on our plans to pivot our organization to improve performance in the second half and in 2027. The revenue shortfall in Q2 was broad-based and roughly $3 million, or 9% lower than the guidance we provided on our call in May. The commercial execution initiatives we began earlier this year have not yet delivered the sustained revenue performance or sales productivity we believe this organization can achieve. As a result, more decisive action is required. We entered this next phase with significant strengths: one of the largest install bases in our sector, market leadership in ultra-sensitive, reproducible protein detection, differentiated proteomic sensitivity across both tissue and blood, and a deeply committed team of employees. To fully translate these advantages into durable growth, we need experienced commercial leadership with the acumen, discipline, and expertise to strengthen our customer engagement and drive consistent execution. Accordingly, we are making a series of significant changes in our commercial organization, starting with adding new proven leadership. As we announced today, Jim Gute is joining our team to help drive improved execution in our commercial organization. Jim was most recently Senior Vice President and Commercial Manager, General Screening at Exact Sciences. Prior to joining Exact, a $3 billion revenue company acquired earlier this year by Abbott Labs, Jim spent 18 years at GE, where he became President of GE Healthcare in 2025. Jim brings more than 25 years of experience leading enterprise organizations, accelerating growth, and transforming complex healthcare and diagnostic businesses. He's developed high-performing commercial organizations that combine strategic vision, operational discipline, and leadership excellence to create sustained enterprise value. We are so excited to welcome Jim to our team and work together to achieve our goal of re-accelerating revenue growth. In addition, we are reorganizing our commercial team around solution-based selling models. Given the highly specialized nature of our instruments, assays, and diagnostic offerings, we believe greater product expertise and more focused customer engagement are essential to improving commercial execution and reigniting sales productivity. As announced in early June, we welcomed a seasoned leader with over two decades of diagnostics experience, Geoff Albrecht, as Senior Vice President and General Manager of Diagnostics. As we transform this business into a critical component of our future growth, Geoff's more than 25 years of deep commercial leadership experience is already making an impact. Most recently, he served as regional vice president for the Northeast U.S. at Quest Diagnostics, leading a group generating approximately $2.9 billion in revenue. Last, our Accelerator business was down significantly in the quarter, mirroring trends towards smaller projects that we saw in Q1. Therefore, we are creating a dedicated sales team focused on driving Pharma Lab services to deliver improved results in the second half. On a positive note, in Q2, this business produced nice bookings, and shortly I'll share some exciting progress we're seeing in Q3. We believe these actions and this momentum will produce growth starting this year and more meaningfully in 2027 and beyond. Based upon our first half performance and recognizing that the significant changes that we are announcing today will not produce results immediately, we are lowering our revenue guidance for 2026 to a range of $142 million to $148 million from the prior range of $169 million to $174 million. Our team has thoroughly assessed the commercial pipeline and underlying in-market assumptions, giving us the confidence that this new forecast is appropriate. At this revenue level, we expect to end 2026 with a roughly $80 million cash balance. This would also push our cash flow break-even to 2027. While we plan to invest in our business to leverage growth opportunities, our ability to conserve cash demonstrated by the higher than expected cash position at the end of Q2 2026 will enable us to be disciplined in balancing cash and investment needs. To that end, we completed the Akoya integration in Q2, finalizing the ERP and cost synergies, and achieved the planned $85 million in annualized savings. In summary, we expect these actions to support stronger performance in the second half and position the company for higher growth in 2027 and beyond. Our updated guidance reflects a level of performance that we are confident we can deliver without assuming a substantial recovery in our end markets. This confidence is supported by our industry-leading solutions and services, our growing customer base, and the continued momentum in our higher growth diagnostics business. Now let me turn to the factors underpinning our confidence in the strategy and our ability to execute successfully. We see early, important size momentum throughout the business that we intend to galvanize and accelerate to improve our results going forward. We are cautiously optimistic about the green shoots in Q2, such as a sequential increase in bookings, leading to a book-to-bill of 1 to 1, driven by orders in Spatial instruments and consumables and some more Accelerator business. Pharma revenue also increased sequentially in Q2, led by Spatial, even though this market has been reported to be struggling recently. The number of LucentAD Complete tests increased significantly in Q2, albeit off a small base, as we strive to transform our diagnostics business into a more sizable component of Quanterix's growth trajectories. We were very pleased that 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 LucentAD Complete test when medical necessity criteria are met. Now, this is happening in advance of our broad-based market access strategy. We've also expanded our assay development with the launch of an important emerging synaptic biomarker, NPTX2, and in Spatial, we launched two new products. We intend to keep up the pace of new offerings. We're excited about Quanterix's prestigious election as a co-investigator institution in the PD-BUILD program, supported by The Michael J. Fox Foundation. This grant-supported mandate will advance Parkinson's disease research by developing and deploying biomarker tools aimed at enabling earlier detection, improved patient stratification, and more effective monitoring of Parkinson's disease. Importantly, it will also validate our technology in an important neurological area. We're also seeing momentum across customers and regions within diagnostics. We've dramatically increased the opportunities for which we are competing, and winning our fair share of these will further increase our credibility. We're excited about these opportunities, which involve accelerated revenues as well. Our partnership with [ Tempus ] announced last quarter is getting underway quickly, and we're working together on several potential opportunities. These, in addition to the clinical utility studies that we expect to read out shortly, should amplify our credibility in the market. Recent studies, including the ones that we shared at AAIC in London, underscore our opportunity to strengthen our commercial moat by demonstrating our premier positioning of an ultra-sensitive, multi-analyte algorithm for targeted translational work, as well as diagnostics. [ And finally, ] I'll speak more about this when I discuss our diagnostics progress. Let me turn to slide 4 and provide some perspective on where we compete in proteomics today and how our core capabilities extend across the continuum from discovery and translational research to diagnostics. Quanterix is recognized as a market leader in ultra-sensitive protein detection with differentiated and highly reproducible proteomic sensitivity in fluids and more recently, tissue. However, we believe the near-term diagnostic potential of technologies is not fully recognized, particularly as early disease detection becomes more important across healthcare. As you can see on this slide, Quanterix is a market leader both in blood and tissue proteomics as the only provider with differentiated leadership in ultra-sensitive blood biomarkers and high-plex spatial tissue analysis across the continuum. We start with Quanterix Simoa, the industry standard for low-plex, ultra-sensitive early detection utilizing blood samples for translational work and diagnostics, bringing the key benefit of reproducibility. On the tissue side, we bring Quanterix Spatial, which sets the bar for high-throughput discovery and translation efforts. As our primary markets in pharma and academia begin to recover, we are primed to be an enormous asset in enabling them to advance scientific discovery to the lab and clinic. Let's move to slide 5, where we show our updated organizational priorities. We have three priorities. Number 1, laser focus on execution. We realize that we must regain credibility and the quickest way is to meet our commitments each quarter. Simply put, we must execute better. The leadership and structural changes that we're making are precisely designed to improve execution and we'll be relentless about driving better commercial execution, especially in our core research sectors. Number 2, pursue our strategic roadmap. We will focus on reinforcing our in vitro diagnostics or IVD strategy and strengthening our position in ultra-sensitive protein detection, thereby continually enhancing our competitive moat to accelerate revenue growth in our core business. And number 3, build our Alzheimer's disease diagnostics business. We plan to accelerate our diagnostic investment in 2026 prudently with the goals of improving workflow, building lab infrastructure, and increasing our shared mind for our LucentAD with our key audience. Now, on the next slide, I'll share more details about executional changes. As I mentioned, we have a seasoned leader heading up our commercial organization. This leadership and a solutions-based approach to customers is designed to drive greater accountability and focus across Simoa, Spatial, and Accelerator. Our Chief Commercial Officer, Jim Gute, will be accountable for commercial execution across the portfolio, and he brings a strong track record of success leading scaled businesses and commercial organizations. We're also pivoting our sales force structure. We're moving from a largely geographically-based model to a dedicated solution-based execution, working more closely with customers across all of our businesses. We're confident that this model will generate greater customer success and increase sales productivity. And our team is so excited about engaging with new and existing customers on this basis again. Now moving to the next slide. Let me share with you some thoughts on our streamlined strategic roadmap. Feedback from customers and collaborators led us to prioritize our Simoa HD-X platform and other investments both for research tools and for diagnostics, including new neurology markers. We're incorporating learnings and enhancements from our next generation platform into the HD-X platform to guide overall development of the Simoa platform. Lastly, we're working diligently on our future 510(k) application for our HD-X platform as an IVD in 2027. As I mentioned, we expanded our assay portfolio with the launch of the Simoa Ultra-Sensitive Immunoassay for NPTX2, an important emerging biomarker of synaptic function. On the Spatial side, our key priorities for 2026 remain expanding our PhenoCycler-Fusion biomarker panels for discovery applications, and also releasing new reagents for the PhenoImager HT platform to better support clinical applications. For instance, we launched two new products, the Spatial Molecular Barcoding kit for the PhenoCycler-Fusion, initially available through an early access program, and the Spatial Spectral DAPI 2.0 for the PhenoImager HT. Moving to our third priority, let me update you on our progress in building out our Alzheimer's disease diagnostics business. We're creating a strong foundation within the emerging molecular Alzheimer's disease diagnosis, and we're excited about recent developments to support our efforts. We've developed what we believe is the best-in-class multi-marker test, which provides quantitative biomarker readings for all patients versus 70% for the other available tests. And only 10% of our patients fall within the indeterminant zone compared to 30% of the competitive approaches. Our value proposition focuses on reliability and reduced ambiguity, addressing the clinician's needs. We're also building on the infrastructure to support the growth trajectory of this business. We submitted a 510(k) application for our single-site, multi-analyte, algorithmic, blood-based biomarker test to the FDA, and we remain in productive dialogue with the FDA. And we're continuing to advance our efforts to drive adoption and increase mindshare ahead of the FDA clearance, including securing premium pricing of $897 for LucentAD Complete tests from CMS. And now, Anthem insurance coverage, with additional studies underway for use in payer outreach. Healthcare providers who treat Alzheimer's want a reliable, non-invasive test to drive earlier intervention of this terrible disease. We firmly believe that we have the most comprehensive Alzheimer's diagnostic tests available today in LucentAD Complete. And we expect to garner meaningful market share as blood-based biomarker tests and continues to grow. In summary, as shown in the next slide, we believe Alzheimer's diagnosis and monitoring will increasingly rely on multi-marker tests that can deliver early detection and low clinical ambiguity. The lowest combination of ultra sensitivity, multiplexing and automation will power Quanterix to be the lead test provider in this space. Furthermore, Quanterix has a first in market advantage with our LucentAD Complete test that is commercially available with established CMS pricing. Quanterix stands unchallenged in offering all the benefits of a multi-analyte immunoassay for Alzheimer's disease diagnostics, and this positions the company as a neurodiagnostic leader. Before I turn the call over to our CFO, I want to assure everyone that our entire team is committed to building a profitable and sustainable research tools business with market leadership in both Spatial and ultra-sensitive proteomics. We expect the actions that I discussed today will start to drive commercial effectiveness in the second half of 2026, but more impactfully in 2027 and beyond. We're not waiting for better markets. Instead, we're taking thoughtful and deliberate action to propel Quanterix to where the industry is going. We're excited about our opportunities with a strong experienced management team leading the way to a brighter future for Quanterix. Now let me turn it over to our Chief Financial Officer, Jason Fessler. You know, Jason joined us in late May, and I'm already so pleased on how valuable he's been to me, the management team, and the board already. Jason. Jason Faessler: Thank you, Everett, and good morning. Before I cover our financial performance, I would like to share a few observations from my first 45 days. First, I'm excited to be here at Quanterix. Everett has moved quickly to put the right leaders in place to drive better customer experiences and healthcare outcomes and put Quanterix on a steady growth path. In addition, Quanterix has a strong brand, strong customer relationships, and we are uniquely positioned in both our tools and diagnostic opportunities. I believe Quanterix is positioned for long-term success, and we now have the leadership to capture it. Moving now to Q2 and slide 12. Revenue for Q2 '26 was $32.9 million, lower than expected. Our revenue grew year-over-year on an as-reported basis by 34% compared to Q2 '25 revenue of $24.5 million. When including pre-acquisition revenue from Akoya in Q2 '25, what I refer to as pro forma, total revenue declined year-over-year by 23%. I will cover details of our revenue performance on the next slide. Despite the revenue performance and volume in Q2, we managed our cash well in the quarter. Cash usage was $5.7 million in the quarter, and we ended Q2 with a cash balance of $96.9 million. On an adjusted basis, after excluding certain severance and integration costs, we reported adjusted cash usage of $4.0 million. Including pre-acquisition cash usage for Akoya in Q2 '25, this represents a decline of $8.4 million. The company has taken significant steps as a part of its Akoya synergies and cost-cutting actions, which combined with improved collection activity enabled us to attain better cash preservation this quarter. On slide 13, I'll provide an overview of our Q2 2026 revenue performance. One factor in our year-over-year pro forma revenue decline was a 5% headwind driven by revenue pulled into Q2 '25 ahead of tariffs implemented last year. Excluding this impact, our APAC revenue of $4.5 million was only down high single digits. EMEA revenue of $10.3 million also declined by mid-single digits on lower consumables pull-through. Finally, Americas was down significantly, mostly reflecting commercial execution, but also continued softness in academic and government spending. In Q2, Simoa revenue of $20.6 million declined in the low teens percentage, with a smaller decline in Simoa consumables, but year-over-year growth in non-Accelerator services. Our Accelerator lab services, which mostly falls under the Simoa product family, declined more than the company average on lower project sizes, as we saw in Q1 '26. One bright spot in the quarter is the significant increase in bookings in Q2 '26 for our Accelerator business. Spatial revenue of $12.3 million was down year-over-year across instruments and consumables, reflecting continued weak funding from U.S. Academic and Government markets. Our Pharma CRO revenue of $14.2 million was down mid-teens percent year-over-year, but grew sequentially for both our Spatial and Simoa products. Academic and Government revenue of $18.7 million was down significantly in line with our Spatial performance. Revenue from diagnostics partners was $1.6 million. While Q2 instrument sales were lower versus prior periods, consumable volume grew for our single biomarker test from our diagnostics enablement partners. Thanks to new leadership in our diagnostics group, we are making progress in the field of diagnostics with academic medical centers, commercial reference labs, and the physician community, specifically in primary care. In addition, we are working with partners to expand the direct consumer experience in neurology. Moving to the P&L, GAAP gross profit and margin for the second quarter was $12.7 million, or 38.5%. Non-GAAP gross profit was $15.8 million, a 54% increase from Q2 2025, and non-GAAP gross margin was 47.9%, an improvement of 600 basis points. The year-over-year improvement in gross margin was largely driven by Akoya acquisition synergies and cost cutting. Operating expenses for the second quarter of 2026 were $62.1 million. Included in operating expenses are approximately $30.4 million of costs related to acquisition, integration, separation, and purchase accounting. Notably, this includes a $26.9 million one-time non-cash write-off related to Akoya goodwill. This impairment is required for U.S. GAAP and was driven by macro factors and company performance. This adjustment has no impact on operations or liquidity, and we believe the Akoya opportunity remains achievable once market conditions improve and our execution strengthens. The resulting non-GAAP operating expenses of $31.8 million in Q2 '26 were up $0.7 million from $31.1 million in Q2 2025. But reflecting the significant synergy cost actions over the last 12 months and when applying pre-acquisition expenses from Akoya to Q2 2025, our pro forma and non-GAAP operating expenses declined by more than $19 million. As Everett mentioned, we're pleased to finalize the Akoya integration effort in Q2 '26, with the completion of the ERP integration and our cost synergies finalized by Q1 '26. Chief cost reductions and strategic roadmap realignment have allowed Quanterix to reallocate capital to drive sustained growth. We are prioritizing several investments, such as building out a dedicated commercial diagnostics team and sufficient infrastructure to manage our diagnostics partnerships. We have also made continued investments in our tools, commercial organization, and in our service teams to get closer to the customer. Our adjusted EBITDA was a loss of $10.0 million. Sequentially, this was roughly flat despite lower revenues versus the prior quarter. I will now turn to guidance for 2026 on the next slide. Due to the Q2 revenue shortfall, we are revising our guidance for the full year 2026 and now expect to report approximately $142 million to $148 million of revenue rather than the previous $169 million to $174 million of revenue. In addition, we expect non-GAAP gross margins to be in a range of 48% to 50% compared to non-GAAP gross margins of 49% to 53% previously. We now anticipate achieving cash flow break-even in 2027 rather than year-end 2026 and expect to end 2026 with cash of approximately $80 million compared to about $100 million previously, and no debt. Finally, in terms of our quarterly cadence, we expect Q3 revenue to be flat to slightly above Q2. And we expect that the significant commercial organization actions we are taking now will begin to drive increased revenues later in 2026, but more materially in 2027 and beyond. Based on our current plans, cash usage in the second half is expected to be double digits in Q3, which will moderate in Q4. I will now turn it back over to Everett for closing remarks. Everett. Everett Cunningham: Thanks, Jason. We made meaningful progress in the second quarter, including strengthening our leadership team and preserving cash better than planned. And we're moving very quickly to address the impact of the Q2 revenue shortfall driven by execution challenges and continued market softness. We're taking immediate and significant action to address 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. I'm very excited about the new leadership, and I intend to work closely with all of them to make Quanterix's team among the best in the sector. With that, I'd like to turn the call back over to Mary to begin the Q&A session. Operator: [Operator Instructions] Your first question is from Dan Brennan with TD Cowen. Daniel Brennan: Maybe just to level set the guide, if you don't mind, just to start out. So when we think about the back half of the year, we got the top overall view from Jason sequentially, but could you break it down a little bit how you're thinking about instruments, consumables, and service, you know, as we go through the back half of the year? And then any color since you are breaking out Quanterix and Akoya in the Q, just would be interesting to see how those progress in the back half of the year, just to start. Everett Cunningham: Yes, Dan, this is Everett. I'll let Jason take that before I do. I'm pleased with what Jason's done in his first two months. The finance team even got closer to the commercial team in terms of doing a robust, bottoms-up look at our pipeline, our funnel for each of these businesses, Spatial, our Simoa business, and Accelerator. I also think we're driving better forecast accuracy because of that deep dive, so we're confident in our new guide, but I'll have Jason break it out. Jason Faessler: Sure, Dan, nice to meet you. So a few things I would add. We're not going to guide to the product lines, but what I would say is our second half, we expect a couple of pickups in Simoa versus Spatial. I think we're not expecting anything on the Academic/Gov recovery. So I think Spatial will lag compared to Simoa. And I think based on our new assay releases, I think we're expecting some pickup on the consumable side, but there definitely is a sequential improvement expected on the instruments as well. I think I'll cut it there. I think the one thing I would also add is seasonally H2 is higher, so I think you would expect a bit of a pickup in the second half as well. Daniel Brennan: Okay, obviously a lot in the prepared remarks. Maybe, Everett, just on Akoya specifically, I think Jason talked about at the very end, you know, once market conditions improve and execution improves on Akoya, I know there's a lot in your remarks about the commercial go-to-market and all the changes you're making. But specifically on Akoya, what would you say, how would you highlight what needs to get done there in terms of the improvement in execution? Everett Cunningham: Yes, thanks, Dan. I'm optimistic about our Akoya Spatial business for a few reasons and Jason highlighted first of all our new launches. I've done over the last two months, guys, an intentional spending time with our customers. I've been in the field with field reps doing field rides globally. And what they've been telling me is, hey, the launch of new assays will give us momentum. So when I think about our PCF platform, we've launched the new PhenoCode molecular barcoding kit. We're already hearing from customers that it makes it easier for them to develop, which is right in our business space. On the PhenoImager HT, we've had new launches around our new ADC lung cancer panel. And also I spent time in California a couple of weeks ago with one of our largest Spatial customers, Prelude DX, using our PhenoImager HT machine as the preferred platform for multiplexing immunofluorescent spatial diagnostics. So the technology is out there. We're getting feedback from customers that we're in the right place. In addition to that, we feel that the segmentation of our sales organization will pay dividends in the second half, will provide good sequential momentum. We have a legacy Akoya team that is out there. They know the customer base. They've been selling Spatial for decades. And what we're doing now is we're prioritizing that team to sell Spatial only to Spatial talent. That's the feedback that I received from our organization, and we made the quick pivot and that should pay dividends in the second half. Daniel Brennan: And then maybe one more on just diagnostics, and I'll go back into queue. I think you talked about $10 million in partner revenues last year and that's not a bad proxy for this year. I think you're expecting FDA in the back half of this year. Can you just update us on where that stands today? You're still really enthused on diagnostics obviously from the prepared remarks, you're investing a lot, you think you're differentiated, but just more, how do we think about the next, say, 12 to 18 months in diagnostics, either from revenue contribution, FDA, and then any other key milestones? Everett Cunningham: Yes, thanks. Really excited about diagnostics. Again, when I got here back in January, I was intentional about ensuring that we had a diagnostics team dedicated to growing this business. I've actually invited our diagnostics leader, Geoff Albrecht, on the call. I'll have him say a couple of comments because this is what he's done 24/7 over the last three months. Let me just mention a couple things that I still feel really enthusiastic about. Number 1 is our differentiated blood-based biomarker test. We have a 5-marker, multi-analyte, algorithmic test that we're hearing from our customers gives them better answers, right? Every patient gets a quantitative result, so 100% of patients get that, and this indeterminate zone of going down to 10%, that's just giving clinicians better answers. We're starting to see that pick up with our LucentAD test, quarter-over-quarter growth. We feel good about that business. We're in productive discussions with the FDA around LucentAD Complete FDA approval. And also our HD-X machine, we stated last quarter that we were going to be able to have that IVD ready in 2027. I spent time in Stuttgart, Germany, with our contract manufacturer that's working to upgrade that machine. And again, that is right on time. So our early head start is continuing to play out and just the early blood-based biomarker acceptance in the field will only help us with momentum. But Geoff, anything else in your first three months? Geoff Albrecht: Sure, Everett. Good morning, everybody, and thanks for the time here. Everett, I think you hit most of the highlights, but I think a few of the things that I'm particularly optimistic about. As we continue to scale this team, we're working with a number of partners on the front end and the back end regarding what we're doing with infrastructure, what we're doing with resources, what we're doing to simplify the process for clients, whether those clients might be academic medical centers, commercial reference labs, or physician clients, as Everett mentioned. We're also continuing to scale this business smartly, prudently, but in a disciplined fashion in terms of how we grow the team and how we deploy that against some of the key resources. I'll close with one other thought, Everett. We did have the opportunity to go to the AAIC conference a couple months ago. We spoke with some of the thought leaders in the space. Their reactions, their responses to what we're doing in the space not only positions us well now, but it positions us very well for where we're going. We spoke with some of the key partnerships that we have with some of the people in the space, really resonating in the market. So we're very bullish here, we're very optimistic about where we're going to go, and with some of the things you mentioned relative to the payer dynamics and some of the things to differentiate a decision making with the multi-marker assay, it's really going to resonate in the short term and the long term. So thank you for the time. Daniel Brennan: Maybe I could take one last one, and just the free cash flow break-even getting pushed out to '27, obviously on the lower guide, makes sense. Is there a revenue number associated with hitting free cash flow break-even next year that you need, like we should have in mind? Jason Faessler: Yes, Dan, one follow up on the diagnostics before I get to that. I did want to mention we are on track for growth ahead of the $10 million that we mentioned in Q1 for diagnostics. So that's a great sign based on the partnerships from last year. And that's also on lighter instruments in the first half. So I think there's a lot of reasons for excitement on the DX. And the test volume is ramping accordingly to the partnerships that we established last year and continue to establish this year. So I thought that was useful. And then back to your question. At this time we're not ready to talk about 2027 revenue. But we are fully committed to cash break-even in 2027. Operator: Your next question is from Kyle Mikson with Canaccord. Kyle Mikson: So Everett, good to see all these actions that you're taking and all the changes and so forth to improve performance. But maybe just talk about why continue to focus on investing and establishing that diagnostics business if it's not going to pay any near-term dividends and you have this research tools business that continues to be pressured and challenged. And you could probably help improve that perhaps first to just kind of alleviate this cash burn issue potentially as well. Everett Cunningham: Yes, thanks, Kyle. Our strategy is an 'and' strategy. Our research tools business is a very important business to be in. We differentiate when it comes to being in this space. When I think about our Simoa technology and hearing from customers, we deliver clinical grade, ultra-sensitive results, precision, reproducibility, which I keep hearing when I'm in the field. Reproducibility is critical in this translational and clinical setting. Having consistency from lot to lot, test to test, lab to lab is critical. In Simoa, we're right there. And then Spatial, listen, we're a high-plex proteomic platform for discovery, and also we play in the translational and clinical application. So what we offer there in terms of our customers, they need Quanterix. We need to do a better job of executing our strategy, articulating our value prop, and we're going to do that with our new go-to-market. The other end is diagnostics, especially Alzheimer's disease diagnostics. Listen, Alzheimer's is a terrible disease. And like I said, I spent the last two to three months in the field talking to neurologists, talking to memory centers. They are thirsty for instruments, they're thirsty for solutions that can give them earlier detection of this disease. And because we have a differentiated blood-based biomarker in LucentAD Complete, because we feel we have the instrument that will be IVD ready, and now we have a dedicated team focused on this, we're in the right place to grow Quanterix sequentially. So we're excited about both the research tools and the diagnostics opportunity. Kyle Mikson: All right, got it. Thanks for that. And then on consumables especially, I mean, it makes sense that instruments would be down and everything. It's a tough environment. But on reagent revenue for Akoya, that was a smaller business for them historically, in the spatial consumables market this quarter had seen growth. So I'm curious what happened there. And then in Simoa, anything on pull-through you can have to talk about over there? Everett Cunningham: Yes, maybe let me kick it off and hand off to Jason. Listen, our Spatial business, the space market has been facing headwinds, especially in U.S. Government and Academic accounts, constrained. Again, we're hearing this directly from our customers. Listen, our job is going to be, I keep getting back to this, we're going to execute better in the second half. I love the fact that we're now going to have singularly focused segmented representatives going to talk to customers that they've been talking to for decades. I think that's going to pay dividends. And that prioritization will definitely help us with not just instrument placement, but just as important as consumable pull-through. So we have good, solid strategies and incentives to do that in the second half. Jason, I don't know if you want to add anything. Jason Faessler: Sure, Kyle. I think what I would add is I think the Simoa consumables were a bit weaker, and that's likely linked to some of the execution challenges. I think we're excited about the tool and its capabilities. So I think we're excited. I think this is much more an execution issue and Everett's taking very decisive, significant steps here to impact the execution of the second half. So I think that's what I would add. Kyle Mikson: All right, perfect. And then lastly, on the Anthem coverage for the Alzheimer's test, that was great to see. Obviously not really any impact revenue-wise from that for a while probably, but how does that maybe influence other commercial plans to grant coverage to those types of tests or other neurology tests, do you think? Everett Cunningham: Yes, I mean, I'll have Geoff handle this in a second, but we're excited about the Anthem coverage of blood-based biomarkers, specifically our opportunity with LucentAD Complete. I think it justifies the importance of blood-based biomarkers, the fact that Anthem was a first mover. What I'm excited about is this is happening before our kind of scalable, broad-based reimbursement strategy that Geoff has in place. But Geoff, if you want to talk a little bit about Anthem. Geoff Albrecht: Sure, Everett, thank you. And I think the Anthem position puts us in a nice situation to look to the other payers in terms of what's next. And I can say also, in conjunction with where we are with CMS, it puts a lot of the dominoes in line for what we're looking to do. Obviously, with Anthem being one of the larger payers, there's other payers out there of their size and significance that we'll be speaking with this about as well. But we think that as we move forward, we'll apply a dedicated resource against this for health plans. They will work with the local plans as well as the nationals. And we think again, this first mover experience with Anthem is going to put us in a good position to line up some of the opportunity that we have there. Operator: Your next question comes from Puneet Souda with Leerink Partners. Puneet Souda: Maybe just walk us through, what are you assuming for Simoa versus Spatial and versus Alzheimer's in the full year guide? And I think the bigger question here is, why is there not risk for further guide cuts? Just given the macro backdrop we're in, the competitive positioning of the products you have versus core Simoa, Spatial launches are also coming in the market, and all of this is happening while the organization is undergoing somewhat of a transformation towards Neurology DX. So with all of these moving parts, maybe just give us a sense of your thinking in the overall guide cut and why should this be the last one? Everett Cunningham: Yes, thanks, Puneet. I appreciate the question. Listen, Jason has come in short time, and I'm really happy with the robust nature now of us just digging in rep by rep, territory by territory, funnel by funnel. Spending time out in the field getting kind of what I would call just-in-time feedback on not just our offerings but the market, what customers are saying, I feel confident in our second half guide. I do. I also feel confident of the momentum that we're building in our diagnostics business, Puneet. Putting the right resources in place, we're having the right conversations, not just internally, but Geoff has accelerated partnership conversations with reference labs. That will actually pay some dividends here in the second half, but most importantly in 2027. In addition to that, I like the leadership that we're adding. And this isn't new leadership to healthcare. I spoke about Jim who has decades of experience in capital equipment with his experience at GE Healthcare. Jim also led a big service business at GE Healthcare. And then just his background at Exact Sciences of establishing sales and marketing and operations discipline. I mean, he will absolutely hit the ground running on day one. And Geoff with the same background of growing our diagnostics business. These guys are seasoned veterans that I've worked with in the past. So you combine the fact that we have differentiated instruments and technology, the fact that we're going to have a renewed focus on everyday sales execution, and then just been there, done that leadership that's going to drive day to day, we feel confident in our second half guide. Jason, I don't know if you want to add anything. Jason Faessler: Yes, the one thing I would add, Puneet, is I really think that the productivity benefit from this reorganization of the sales team, I think we're excited. I think this was an effect that took place with the past alignment. I think we're excited about the potential and I think the team is excited about it as well. Everett Cunningham: Yes, I'll add this. Lastly, this segmentation of what we're doing with our commercial organization, and how we look at our current talent, and the fact that I think that there's going to be less disruption, this is something that they've been asking for. They want to get deeper within their respective expertise, get deeper with customer interactions, and being able to just articulate their specified value prop, like Jason said, we're excited about the second half sequential improvement. Jason Faessler: Maybe to your question on the guide. I won't guide to the specific platforms, but what I would say is probably the decline for Spatial continues to Q3, Q4, similar to the first half with more of a recovery on the Simoa side led by consumables with some sequential improvement in instruments. So that's some more detail. Puneet Souda: Yes, that's helpful. And then look in the pivot to Alzheimer's, the Anthem, overall neurology diagnostics, I mean, could you talk a little bit about sort of how much of the tools business is how much of a core is that business? Within the life science tools business, how much of a core is Spatial versus Simoa? I mean, we're just getting questions around whether this is, given the pivot, how are you thinking about these two businesses longer term? Is this something that remains core to Quanterix longer term as well? Everett Cunningham: Yes, thanks, Puneet. Our research tools business is absolutely core. We look to stabilize this business, get it back to flat, and then start growing it very soon. I think it's representative of the leader that I brought in. I mean, I brought in Jim Gute, who I've worked with in the past for seven years at GE and Exact. He is experienced in terms of bringing back discipline, sales productivity and growth. Jim will be responsible for turning our research tools business around. And I'm confident that Jim will do that. In addition, diagnostics is the same. We've done, and we said this on previous earnings calls, we've made priority decisions here and that's freed up some resources and investments. And we're taking those investments and we are investing in diagnostics. So it's not like it's going to all of a sudden blow out our spending, but we're prudently, again, investing in diagnostics with partnerships, with leaders that we're bringing in, and really like what Geoff has done in the last two months with having a focus on scaling diagnostics in the right way to drive growth this year. And then you're going to see that take off in 2027. Puneet Souda: Got it. And just last one for me, I mean, with the rapid CMS pathway, I don't know if you had a chance to look at that and see if there are any benefits here. Anything you can provide on the FDA side would be helpful too. Thank you. Everett Cunningham: Yes, thanks, Puneet. And again, I'll have Geoff maybe talk about the CMS $897 differentiated price. Listen, we're in regular dialogue with the FDA. We believe that those discussions have been really productive, especially over the last month, that's enabling us to ensure that we get approval for our LucentAD Complete test somewhere towards the end of this year. Geoff, CMS? Geoff Albrecht: Yes, super pleased with where we've landed with CMS relative to the multi-marker assay. I think it really just solidifies the fact that they see the value in terms of what we have with the algorithm, with the decision-making tied to the five assays. It's starting to take hold right away. I mean, this is relatively new to the space and this is getting out there in the physician community. Initially when we were starting with this message we were talking to many of the academic medical centers, but as this discussion has evolved into the physician community with primary care, memory centers, neurologists, these are folks that are really appreciative in terms of what we've done with this CMS piece. So I think you've really just seen the beginning of where we're going to go with this. We'll report more traction on this in the very near future, but we're bullish about where this is going to go. Puneet Souda: Got it. All right. Thanks, guys. Everett Cunningham: Thanks, Puneet. Operator: At this time, there are no further questions. With that, we'll conclude today's call. Thank you all for joining. You may now disconnect. Before you buy stock in Quanterix, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Quanterix wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $421,511!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,381,960!* Now, it’s worth noting Stock Advisor’s total average return is 981% — a market-crushing outperformance compared to 216% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 17, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Quanterix (QTRX) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Quanterix (QTRX) is back in focus after its 10 August second quarter report, which paired higher revenue with a wider net loss, a lower full year 2026 revenue outlook, and a new Chief Commercial Officer. See our latest analysis for Quanterix. Quanterix’s share price has been under pressure for some time, with the year to date share price return down 59.18% and the 1 year total shareholder return down 44.85%. The stock briefly rebounded with an 8.47% 1 day share price gain after the 10 August earnings release, despite the lower 2026 revenue guidance and wider losses. This suggests that investors may be reassessing near term risk and potential in light of the new Chief Commercial Officer and the updated outlook. If you are looking beyond Quanterix for other potential opportunities, this could be a useful moment to scan the market for companies with different growth and risk profiles using the 18 top founder-led companies Quanterix is working to build a wide set of research tools and services, yet the stock has fallen sharply and only briefly bounced after earnings. Is that recent move enough to make the current price look reasonable? Quanterix last closed at $2.63, while the most followed narrative anchors fair value at $4.33. That disconnect frames how some investors view the latest pullback. Read the complete narrative. The fair value story for Quanterix hinges on how fast that larger market turns into revenue, how margins shift from deep losses, and what earnings multiple investors ultimately accept. Result: Fair Value of $4.33 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this Quanterix narrative still faces real pressure if double digit revenue declines persist or if Akoya integration and cost synergies fail to materialise as planned. Find out about the key risks to this Quanterix narrative. The mixed tone around Quanterix highlights both concern and cautious interest, so it makes sense to move quickly and test the story against the numbers yourself. To weigh both sides clearly, review the 2 key rewards and 2 important warning signs Do not stop your research with Quanterix. Casting a wider net with focused screeners can help you spot opportunities that fit your goals and risk comfort. Target potential value opportunities by using the 49 high quality undervalued stocks, which filters for companies combining quality fundamentals with lower market expectations. Strengthen your focus on resilience by reviewing the 85 resilient stocks with low risk scores, which highlights businesses with more stable risk profiles. Hunt for potential future standouts by scanning the screener containing 20 high quality undiscovered gems, which surfaces lesser known stocks with solid underlying metrics. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include QTRX. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

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., August 10, 2026--(BUSINESS WIRE)--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 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260810542022/en/ Contacts Media Contact: [email protected] Investor Relations Contact: [email protected]

Interested in Quanterix Corporation? Here are five stocks we like better. Quanterix cut its 2026 outlook after second-quarter revenue of $32.9 million fell $3 million short of guidance amid broad market weakness and commercial execution challenges. Full-year revenue guidance declined to $142 million–$148 million from $169 million–$174 million, while cash-flow breakeven was pushed to 2027. Performance weakened across key businesses and regions: pro forma revenue declined 23% year over year, Simoa revenue fell in the low teens, Spatial revenue declined, and academic and government demand remained particularly weak. The company is restructuring its sales organization around product solutions and expects Simoa to recover more quickly than Spatial. Quanterix completed its Akoya integration and achieved $85 million in annualized savings, helping lift non-GAAP gross margin to 47.9%. It is also advancing its Alzheimer’s diagnostics strategy, with LucentAD Complete gaining coverage for qualifying Anthem members and FDA approval for a blood-based biomarker test targeted for late 2026. Quanterix (NASDAQ:QTRX) reported second-quarter 2026 revenue of $32.9 million and lowered its full-year outlook after management cited broad-based market softness and commercial execution challenges. The company said revenue came in about $3 million, or 9%, below the guidance it provided in May. Revenue increased 34% on a reported basis from $24.5 million in the prior-year quarter, reflecting the Akoya acquisition. However, on a pro forma basis including Akoya’s pre-acquisition revenue in the 2025 period, revenue declined 23% year over year. → MarketBeat Week in Review – 08/03 - 08/07 President and CEO Everett Cunningham said the company’s first-half performance did not meet expectations, prompting changes to its commercial organization and a revised financial outlook. “The commercial execution initiatives we began earlier this year have not yet delivered the sustained revenue performance or sales productivity we believe this organization can achieve,” Cunningham said. “As a result, more decisive action is required.” → Quantum Earnings Week: Winners and Losers Are Finally Emerging Quanterix reduced its 2026 revenue guidance to a range of $142 million to $148 million, from prior guidance of $169 million to $174 million. The company also lowered its projected non-GAAP gross margin range to 48% to 50%, compared with its previous forecast of 49% to 53%. The company now expects to reach cash-flow breakeven in 2027 rather than by the end of 2026. It forecast ending 2026 with approximately $80 million in cash and no debt, compared with its prior expectation of about $100 million. → Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War Chief Financial Officer Jason Faessler said Quanterix expects third-quarter revenue to be flat to slightly above second-quarter revenue. Management expects commercial actions now underway to support increased revenue later in 2026, with a more material contribution anticipated in 2027 and beyond. Cash usage was $5.7 million during the second quarter, and Quanterix ended the period with $96.9 million in cash. Adjusted cash usage, excluding certain severance and integration costs, was $4 million. Faessler said cash preservation benefited from Akoya-related synergies, cost reductions and improved collections. Simoa revenue totaled $20.6 million in the quarter and declined by a low-teens percentage year over year. The company said Simoa consumables experienced a smaller decline, while non-accelerator services grew year over year. Accelerator lab services declined more than the company average as project sizes remained smaller, though the company reported a significant increase in accelerator bookings during the quarter. Spatial revenue was $12.3 million, declining year over year across instruments and consumables. Faessler attributed the performance to continued weak funding among U.S. academic and government customers. Americas revenue was $18.1 million and declined significantly, reflecting commercial execution issues as well as weakness in academic and government spending. EMEA revenue was $10.3 million and declined by a mid-single-digit percentage, primarily due to lower consumables pull-through. APAC revenue was $4.5 million and was down by a high-single-digit percentage excluding a comparison headwind related to revenue pulled into the second quarter of 2025 ahead of tariffs. Pharma contract research organization revenue was $14.2 million, down by a mid-teens percentage year over year but up sequentially in both Spatial and Simoa offerings. Academic and government revenue was $18.7 million and declined significantly. Revenue from diagnostics partners was $1.6 million. GAAP gross profit was $12.7 million, representing a 38.5% margin. Non-GAAP gross profit was $15.8 million, while non-GAAP gross margin expanded 600 basis points year over year to 47.9%, which the company attributed largely to Akoya acquisition synergies and cost-cutting actions. Operating expenses were $62.1 million, including $30.4 million in acquisition, integration, separation and purchase-accounting costs. Those costs included a $26.9 million non-cash write-off related to Akoya goodwill. Faessler said the impairment was required under U.S. GAAP and reflected macroeconomic factors and company performance, with no impact on liquidity or operations. Adjusted EBITDA was a loss of $10 million. Quanterix said it completed the Akoya integration during the second quarter, including enterprise resource planning integration and planned cost synergies. Cunningham said the company achieved its planned $85 million in annualized savings. The company is reorganizing its commercial team from a primarily geographic model to a solution-based sales structure focused on Simoa, Spatial and Accelerator offerings. The effort is intended to give sales representatives deeper product specialization and closer customer engagement. Quanterix appointed Jim Gute to lead commercial execution. Gute most recently served as senior vice president and commercial manager of general screening at Exact Sciences and previously spent 18 years at GE, where he became president of GE HealthCare in 2021. Geoff Albrecht, who joined in June as senior vice president and general manager of diagnostics, is leading the diagnostics business. Management said it expects Simoa to show more recovery than Spatial in the second half, supported by consumables and some sequential improvement in instruments. The company does not expect a recovery in academic and government funding during the period, and said Spatial trends could continue to lag Simoa. Quanterix continued to emphasize its Alzheimer’s disease diagnostics strategy, centered on its LucentAD Complete blood-based biomarker test. Cunningham said test volumes increased significantly in the second quarter, although from a small base. The company said that, effective July 1, qualifying members covered under Anthem Blue Cross and Blue Shield medical policies may receive coverage for blood-based biomarker testing, including LucentAD Complete, when medical-necessity criteria are met. Quanterix also cited CMS pricing of $897 for the test. Management said it has submitted a 510(k) application to the Food and Drug Administration for its single-site, multi-analyte algorithmic blood-based biomarker test and remains in discussions with the agency. Cunningham said the company is targeting FDA approval toward the end of 2026. Quanterix also plans to pursue a future 510(k) application for its HD-X platform as an in vitro diagnostic product in 2027. During the quarter, Quanterix launched an ultrasensitive immunoassay for NPTX2, a synaptic-function biomarker. Its Spatial business also introduced a molecular barcoding kit for the PhenoCycler-Fusion platform through an early-access program and Spatial Spectral DAPI 2.0 for the PhenoImager HT platform. Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics. The company's core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Quanterix Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Revenue: Q2 2026 revenue was $32.9 million, up 34% year-over-year on an as-reported basis but down 23% on a pro forma basis (including pre-acquisition Akoya revenue). Revenue Guidance: Full-year 2026 revenue guidance lowered to $142 million to $148 million from the prior range of $169 million to $174 million. Simoa Revenue: $20.6 million in Q2, down in the low teens percentage year-over-year, with a smaller decline in consumables but growth in non-Accelerator services. Spatial Revenue: $12.3 million in Q2, down year-over-year across instruments and consumables due to weak academic and government funding. Pharma CRO Revenue: $14.2 million, down mid-teens percent year-over-year but up sequentially for both Spatial and Simoa products. Academic and Government Revenue: $18.7 million, down significantly in line with Spatial performance. Diagnostics Partners Revenue: $1.6 million in Q2. Gross Profit: GAAP gross profit was $12.7 million (38.5% margin); non-GAAP gross profit was $15.8 million (47.9% margin), a 600 basis point improvement year-over-year. Operating Expenses: GAAP operating expenses were $62.1 million, including a $26.9 million one-time non-cash goodwill impairment; non-GAAP operating expenses were $31.8 million. Adjusted EBITDA: Loss of $10.0 million in Q2, roughly flat sequentially. Cash Position: Ended Q2 with $96.9 million in cash; cash usage was $5.7 million in the quarter ($4.0 million adjusted). Cash Guidance: Expects to end 2026 with approximately $80 million cash and no debt; cash flow break-even pushed to 2027. Gross Margin Guidance: Non-GAAP gross margins for 2026 expected in the range of 48% to 50%. Warning! GuruFocus has detected 6 Warning Signs with QTRX. Is QTRX fairly valued? Test your thesis with our free DCF calculator. Release Date: August 10, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Quanterix Corp (NASDAQ:QTRX) achieved better-than-planned cash preservation in Q2, ending the quarter with $96.9 million in cash and reducing adjusted cash usage by $8.4 million year-over-year. The company is strengthening its commercial leadership with the addition of seasoned executives like Jim Gute (Chief Commercial Officer) and Geoff Albrecht (SVP of Diagnostics), bringing deep industry experience to drive execution. Quanterix Corp (NASDAQ:QTRX) secured a significant milestone with Anthem Blue Cross Blue Shield providing coverage for its LucentAD Complete test, enhancing market access ahead of a broader reimbursement strategy. The company saw positive momentum in Q2 with a book-to-bill ratio of 1 to 1, driven by increased bookings in Spatial instruments, consumables, and Accelerator business, along with sequential growth in Pharma revenue. Quanterix Corp (NASDAQ:QTRX) completed the Akoya integration in Q2, achieving the planned $85 million in annualized savings and improving non-GAAP gross margins by 600 basis points year-over-year. The company is expanding its product portfolio with new launches, including the NPTX2 synaptic biomarker assay and two new Spatial products, positioning it for future growth in high-demand areas. Quanterix Corp (NASDAQ:QTRX) was selected as a co-investigator in the PD-BUILD program by The Michael J. Fox Foundation, validating its technology in Parkinson's disease research and expanding its neurological footprint. Quanterix Corp (NASDAQ:QTRX) reported a significant revenue shortfall in Q2, with total revenue of $32.9 million, approximately $3 million or 9% below guidance, leading to a substantial cut in full-year 2026 revenue guidance to $142-$148 million from $169-$174 million. The company's commercial execution initiatives have not yet delivered sustained revenue performance, prompting a reorganization of the sales force and a pivot to a solution-based selling model, which may cause near-term disruption. Quanterix Corp (NASDAQ:QTRX) experienced broad-based market softness, particularly in US academic and government spending, leading to a significant decline in Spatial revenue and a mid-teens percent drop in Pharma CRO revenue year-over-year. The company recorded a $26.9 million one-time non-cash goodwill impairment related to Akoya, reflecting macro factors and company performance, which negatively impacted GAAP operating expenses. Quanterix Corp (NASDAQ:QTRX) pushed its cash flow break-even target to 2027, with expected cash usage in the second half of 2026 to be in the double digits in Q3, indicating continued financial pressure. The Accelerator business declined significantly in Q2, mirroring trends toward smaller projects seen in Q1, and the company is creating a dedicated sales team to address this, but recovery is uncertain. Quanterix Corp (NASDAQ:QTRX) faces ongoing challenges in the Spatial market, with revenue declining across instruments and consumables due to weak funding, and the company does not expect a recovery in Academic/Gov spending in the near term. Q: Can you break down how you're thinking about instruments, consumables, and service in the back half of the year, and how Quanterix and Akoya will progress?A: Jason Faessler (CFO): We're not guiding to specific product lines, but we expect a couple of pickups in Simoa versus Spatial. We are not expecting any recovery in the Academic/Gov segment, so Spatial will lag compared to Simoa. We expect some pickup on the consumable side due to new assay releases, and there is a definite sequential improvement expected on the instruments side as well. Seasonally, H2 is higher, so we expect a pickup in the second half. Q: What needs to get done specifically on the Akoya Spatial business to improve execution?A: Everett Cunningham (CEO): I'm optimistic about the Spatial business. Customer feedback on our new launches, like the PhenoCode molecular barcoding kit for the PCF platform and the new ADC lung cancer panel for the PhenoImager HT, has been positive. We are also segmenting our sales organization to have a dedicated, legacy Akoya team selling Spatial only. This prioritization will pay dividends in the second half and provide good sequential momentum. Q: Can you update us on the FDA submission for LucentAD Complete and the key milestones for the diagnostics business over the next 12-18 months?A: Everett Cunningham (CEO): We are in productive dialogue with the FDA and believe we are on track for approval of our LucentAD Complete test towards the end of this year. We are also on track for the HD-X platform to be IVD ready in 2027. Geoff Albrecht (SVP, GM Diagnostics): We are scaling the team and working with partners on infrastructure and resources. The feedback from thought leaders at the AAIC conference was very positive, and the recent CMS pricing and payer dynamics are resonating well in the market. Q: Why continue to invest in the diagnostics business when it won't pay near-term dividends and the research tools business is pressured?A: Everett Cunningham (CEO): Our strategy is an 'and' strategy. The research tools business is core, and we are taking steps to stabilize and grow it with new leadership. However, the diagnostics opportunity, specifically for Alzheimer's, is significant. We have a differentiated blood-based biomarker test, an instrument that will be IVD ready, and a dedicated team. The market is thirsty for earlier detection solutions, and we are well-positioned to grow this business sequentially. Q: What happened with Spatial consumables and Simoa pull-through in the quarter?A: Everett Cunningham (CEO): The Spatial market is facing headwinds, especially in US Government and Academic accounts. Our job is to execute better in the second half with a singularly focused, segmented sales force. Jason Faessler (CFO): Simoa consumables were a bit weaker, likely linked to execution challenges. This is more of an execution issue, and the decisive steps being taken will impact the second half. Q: How does the Anthem coverage influence other commercial plans to grant coverage for Alzheimer's tests?A: Geoff Albrecht (SVP, GM Diagnostics): The Anthem position puts us in a nice situation to approach other payers. Combined with our CMS pricing, it lines up the dominoes for what we are looking to do. We will apply a dedicated resource to work with local and national health plans, and we believe this first-mover experience with Anthem will help us line up additional opportunities. Q: What are you assuming for Simoa versus Spatial versus Alzheimer's in the full-year guide, and why is there not risk for further guide cuts?A: Everett Cunningham (CEO): We have done a robust, bottoms-up look at our pipeline and funnel for each business. We feel confident in our second-half guide due to the momentum in diagnostics, the new leadership we are adding, and the renewed focus on sales execution. Jason Faessler (CFO): The decline for Spatial will likely continue into Q3 and Q4, similar to the first half, with more of a recovery on the Simoa side led by consumables and some sequential improvement in instruments. Q: How are you thinking about the Spatial and Simoa businesses longer term, given the pivot to Alzheimer's diagnostics?A: Everett Cunningham (CEO): Our research tools business is absolutely core. We look to stabilize it, get it back to flat, and then start growing it. We have brought in Jim Gute to turn the research tools business around. We are also prudently investing in diagnostics with partnerships and leaders, and we expect that business to take off in 2027. Q: Can you provide any benefits from the rapid CMS pathway and an update on the FDA side?A: Everett Cunningham (CEO): We are in regular, productive dialogue with the FDA, and we believe we are on track for approval of LucentAD Complete towards the end of this year. Geoff Albrecht (SVP, GM Diagnostics): We are super pleased with the CMS pricing for the multi-marker assay. It solidifies the value of our algorithm and is starting to take hold in the physician community, including primary care, memory centers, and neurologists. Q: Is there a revenue number associated with hitting free cash flow break-even in 2027?A: Jason Faessler (CFO): We are not ready to talk about 2027 revenue at this time, but we are fully committed to cash break-even in 2027. We are also on track for growth ahead of the $10 million mentioned in Q1 for diagnostics, which is a great sign based on the partnerships from last year. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is transitioning the company from a post-acquisition integration phase to a growth-oriented investment mode to better capitalize on market leadership in disease biomarkers. Q1 performance was impacted by persistent market difficulties and softer-than-expected instrumentation revenue, which management attributes to timing issues and a lack of commercial focus. The company successfully realized $85 million in annualized cost synergies from the Akoya acquisition, maintaining non-GAAP gross margins above 50% despite pro forma revenue declines. A strategic decision was made to streamline the product roadmap, prioritizing the Simoa HD-X platform and diagnostics over other next-generation programs to ensure near-term returns. Management identified a slip in pharma partnerships within the Accelerator business and is installing new leadership to restore these critical relationships. The company maintains a strong balance sheet with approximately $100 million in cash and no debt, providing the flexibility to fund diagnostic growth while pursuing research tool profitability. Full-year 2026 revenue guidance is maintained at $169 million to $174 million, assuming a significant second-half ramp driven by new commercial investments. The company expects to achieve cash flow breakeven by the fourth quarter of 2026 as annual one-time payments conclude and operational rigor improves. Management is preparing the Simoa HD-X platform for an IVD status filing with the FDA in 2027 to support both clinical trials and a distributed lab model. Revenue expectations for 2026 do not assume a material improvement in macro end markets or direct testing revenue, relying instead on internal commercial execution and partner consumable growth. Strategic investments in lead generation and marketing are expected to yield near-term returns by increasing net new business opportunities in the second half of the year. A $19 million one-time write-off of an intangible asset occurred following the termination of an Akoya diagnostics development agreement, though this was offset by a $22 million liability write-off. The company changed its accounting policy to include shipping and handling costs within gross margin to align with industry peers, impacting GAAP margin reporting but not underlying non-GAAP expectations. Management flagged a 33% year-over-year decline in pharma revenue, primarily due to fewer large accelerator projects and spatial instrument placements. A new partnership with Tempus AI will integrate the LucentAD Complete test into EHR systems, utilizing a proprietary algorithm to identify eligible patients. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that the HD-X is their 'workhorse' with a robust installed base, and IVD status will solidify the research business while enabling a distributed diagnostic model. The upgrade aims to make the machine more reliable for research customers while preparing for the 2027 diagnostic rollout. The company is continuing its early access program for Simoa ONE and using customer feedback to enhance the HD-X upgrade and future next-gen programs. Management emphasized that Simoa ONE remains a part of the portfolio despite the prioritization of the HD-X platform. Quanterix claims a 10x advantage in low-plex assay availability compared to competitors and a larger installed base focused on high-reproducibility translational research. Management intends to 'turbocharge' marketing to ensure they capture the market share their technology deserves, particularly in later-stage clinical trials. Investments are being funded by streamlining other projects; the company is hiring a seasoned diagnostics leader and expanding 'feet on the street' for the LucentAD Complete test. While partner revenue is expected to remain steady at approximately $10 million, management is not counting on direct testing revenue to inflect until after 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 06, 2026--(BUSINESS WIRE)--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 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506273764/en/ Contacts Media Contact: [email protected] Investor Relations Contact: Joshua Young (508) 846-3327 [email protected]

Image source: The Motley Fool. Wednesday, May 6, 2026 at 4:30 p.m. ET President and Chief Executive Officer — Everett Cunningham Chief Financial Officer — Vandana Sriram Head of Investor Relations — Joshua Young Need a quote from a Motley Fool analyst? Email [email protected] Joshua Young: Thank you, Preyila, and good afternoon, everybody. With me on today's call are Everett Cunningham, Quanterix' President and CEO; and Vandana Sriram, Quanterix' Chief Financial Officer. Today's call is being recorded, and a replay of the call will be available on the Investors section of our website. During the course of today's presentation, we will make forward-looking statements covered under the U.S. Private Securities Litigation Reform Act. These forward-looking statements are based on management's beliefs and assumptions as of today, May 6, 2026. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that might cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. To supplement our financial statements presented on a GAAP basis, we have provided certain non-GAAP financial measures. These non-GAAP measures are used 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 such measures are important in comparing current results with other period results and assessing our operating performance within our industry. Non-GAAP financial information presented herein should be considered in conjunction with, not as a substitute for the financial information presented in accordance with GAAP. Investors are encouraged to review the reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures set forth in the presentation posted to our website and in the earnings release issued today. Finally, any percentage changes we discuss will be on a year-over-year basis unless otherwise noted. Now I'd like to turn the call over to Everett Cunningham. Everett? Everett Cunningham: Thanks, Josh. I'm happy to be here with all of you this afternoon. My time at the company has been very exciting and informative, and I'm more confident than ever about the future of Quanterix. Now in that spirit, I'd like to start off by sharing some of my key observations in my first 100 days with the company. First, we have a passionate employee base full of people who want Quanterix to win and be successful for the long term. Now based on our customers' feedback, we remain the market leader in early detection of critical disease biomarkers, and that's a great position to be in, one that we must capitalize on. Next, we have an installed base of over 2,300 instruments across passionate customers who appreciate the value of our products and services. Our market-leading technologies include Simoa, where we are the leaders in ultrasensitive digital immunoassays for protein biomarker quantification and spatial, where we have the highest plex proteomic platform on the market. Now these are both businesses where we can generate strong growth and build solid businesses moving forward. Next, our strong foundation positions us to be a leader in the Alzheimer's diagnostics industry. Now it's early innings, but I believe in our capabilities, and I want to invest in them now. So in summary, I believe that we have a clear path towards profitability for our research tools business and a balance sheet to support our growth ambitions for our Alzheimer's disease diagnostics with approximately $100 million in cash and no debt. Now this journey, I'm here to undertake is exciting, and I couldn't be more excited to be here. Now moving from a high-level observation to more of a detailed strategic and tactical consideration. I gathered a lot of feedback in my first 3 months here. The company has many strengths to build upon, but we're not currently fulfilling our potential. So as a result, I'm making some operational as well as strategic changes now and in the future quarters that will help us better capitalize on our compelling opportunities. One overriding philosophical change that we must move the company from a mode of integrating and realizing synergies to a mode of investing and growing our business for long-term growth. We are allocating resources to growth opportunities where we see compelling near-term returns while ensuring that we continue to hit our annual operating targets in 2026 and beyond, just as we delivered our $85 million of cost synergies from the Akoya acquisition. In the first quarter of 2026, we reported $36.4 million of revenue as our end markets remain difficult. While our consumable revenues performed as planned, our revenues from our instrumentation business was slightly softer than expected. Now some of the shortfall is related to timing issues, but there's also some changes that we're going to be implementing to bring more focus to our sales efforts. These changes will bring benefits as the year progresses. Now, in addition to investing in growth opportunities, we are hard at work at creating a culture of operational execution and delivering quarterly expectations as a key tenet of our organization we are building here at Quanterix. We've established good operational rigor, which can be seen in our gross margin performance, our disciplined approach to spending and in our ability to consistently hit our cash usage targets. Now during the last call, I shared details of my 30-year commercial background at companies such as Illumina, Quest Diagnostics and Exact Sciences. I know what best-in-class commercial organizations look like, and I've identified multiple opportunities to take Quanterix to the next level of operational performance. As a result, we're making several investments to improve our commercial effectiveness in 2026 and beyond. Now these investments include: we're going to elevate our pharma partnerships in our accelerator business with an experienced senior leader. This important business has slipped in recent quarters, and we are changing that now. I expect that myself, the new leader and our current professionals in this space will have frequent and candid dialogues with our pharma clients to understand how we can better solve for their needs. Now with our best-in-class technology and solutions, we expect significant improvement this year. Next, we are expanding our team of lead generation representatives to improve our outbound targeting and drive net new business. We're also going to hire new market development leaders that will support the sales team in training, systematic value propositions and competitive positioning. This is intended to refocus our sales force on their customers while clarifying Quanterix' many advantages of our overall value propositions in our key end markets. We will be harder hitting on differentiation. For example, we will highlight our ability to detect proteins more accurately than others while doing it more consistently. Next, we're leveraging Thermo Fisher's distribution capabilities to improve our online presence. Now this will have a dual benefit of helping our customers by easing their barriers to access for our products while reducing the manual work of our commercial team to provide pricing quotes. Everything that we're doing is centered on investments that will yield near-term returns to sharpen our focus, expand our opportunity set and grow our top line performance in 2026 and beyond. Now our customers have told me repeatedly that we are the market leader. Armed with this feedback, we're adjusting our course and importantly, we're moving quickly with a sense of urgency. Now we're also increasing our investment in our Alzheimer's diagnostics business. Health care providers who treat Alzheimer's want a reliable noninvasive test to drive earlier intervention of this terrible disease. We firmly believe and industry leaders concur that we have the best performing and most comprehensive Alzheimer's diagnostics test available today in LucentAD Complete, and we expect to garner meaningful market share as blood-based biomarker testing continues to grow. So we're making the following investments in our diagnostics business. First, we are hiring a new diagnostics leader reporting directly into me to build and invest in our emerging diagnostics business. With this move, we are bringing in strong leadership to expand and strengthen our diagnostics portfolio as part of our commitment to advancing our position in the nascent Alzheimer's testing market. Next, we are upgrading our next-generation Simoa HD-X platform and expect to file for IVD status with the FDA in 2027. Now this will position us not only to serve research customers who increasingly request IVD solutions for their clinical trials, but it will also set us up to support the distributed IVD model for our lab customers. Next, we are investing in lab infrastructure and implementing new targeted sales and marketing tactics to increase mind share for our LucentAD Complete test in anticipation of FDA clearance in the second half of this year. Now these investments will build on the strong momentum that we have in our diagnostics business. As a matter of fact, today, we just announced an important and exciting partnership with Tempus AI. Under this agreement, LucentAD Complete will be integrated into [ EHR ] systems at select Tempus Partner Health System locations as part of the Tempus Next program. Now patients who meet the clinical criteria will be flagged using a proprietary algorithm and testing will be available for order at a clinician's discretion. Now to help fund these investments, we're streamlining our product road map. Now my engagement with customers and collaborators in this sector over the past 3 months has led us to prioritize our Simoa HD-X platform and other investments, both on the research tools and diagnostics sides of the business. Also, we're incorporating learnings and enhancements from our next-generation platform into the HD-X upgrade. And additionally, we are continuing to gather feedback from our early access launch program that we expect to incorporate over time into the next-generation Simoa program. Now on the spatial side of our business, our 2 key priorities for 2026 are to expand our PCS biomarker panels for discovery applications and to release new reagents for the HT platform to better support clinical applications. Now from a financial perspective, we continue to expect to reach cash flow breakeven performance by the fourth quarter this year. The entire company is committed to building a profitable and sustainable research tools business that are leaders in both spatial and ultrasensitive proteomics. Now we expect the investments that I discussed today will help drive commercial effectiveness in the second half of 2026. We are not waiting for better markets. Instead, we're making thoughtful and deliberate decisions to drive Quanterix to where the industry is going. And finally, we are excited about our Diagnostics business as we are delivering on key milestones this year while welcoming in a proven seasoned business leader to accelerate our performance in this space. Now let me turn it over to our Chief Financial Officer, Vandana Sriram. Vandana Sriram: Thank you, Everett, and good afternoon. Total revenue for the first quarter was $36.4 million, an increase of 20% from the previous year. Organic revenue declined by 21%. Revenue from our diagnostics partners was $2.9 million, up meaningfully year-over-year from $1.6 million in the first quarter of 2025. This reflects increasing volume for our single biomarker test from our diagnostics enablement partners. During the quarter, both of our end markets and our consumables revenue were largely in line with our expectations, but we saw slightly weaker-than-expected results in instrumentation with a handful of instrument transactions getting pushed into the second quarter. From a product perspective, Simoa contributed $24 million, a 21% organic revenue decline and spatial reported $12.4 million, down 26% year-over-year. Instruments revenue was $4 million, comprised of $2.3 million from Simoa and $1.7 million from spatial instruments. We placed 16 Simoa and 11 spatial instruments in the quarter. Consumables revenue was $21.4 million. This consisted of $14.5 million in Simoa and $6.9 million in spatial consumables. Accelerator Lab services were $4.3 million, $3.5 million in Simoa and $800,000 in spatial. Our customer mix was meaningfully skewed to academia, which represented approximately 65% of the business in Q1. On a pro forma basis, assuming Quanterix and Akoya were combined for the full year, academic revenue for the first quarter declined approximately 16%. Pharma revenue declined 33% year-over-year, primarily due to fewer large accelerator projects and spatial instruments placed. As Everest already mentioned, we are adding resources and refocusing strategies towards the pharma end market, and we expect to see better results here in the coming quarters. Moving on to the P&L. Gross profit and margin for the first quarter were $15.6 million or 42.7%. Non-GAAP gross profit was $18.5 million and non-GAAP gross margin was 50.9%. The synergies from the Akoya transaction are apparent here. Even with a reduction in pro forma revenue, we are maintaining non-GAAP gross margin over 50%. Operating expenses for the quarter were $56.9 million. Included in operating expenses are approximately $22 million of costs related to acquisition, integration, restructuring and purchase accounting. Notably, this includes a $19 million onetime write-off from an intangible asset related to the termination of an Akoya Diagnostics development agreement. Offsetting this, other income contains $22 million of liabilities written off, resulting in net noncash income of $2.3 million from this termination. Non-GAAP operating expenses were $34.7 million, a decrease of roughly $2.3 million sequentially as a result of the synergies. We are now operating the new Quanterix entity at roughly the same level of operating expenses we had when we were a stand-alone company. As Everett mentioned, as a result of the Akoya integration actions taken to date, at the end of Q1, we have delivered the $85 million of annualized cost synergies that we committed to as part of the acquisition. The combined entity is operating as expected. And while there are a few remaining actions to complete, we will not continue to report these synergies after this quarter. Our adjusted EBITDA was a loss of $9.8 million, a sequential improvement of $1.5 million despite lower revenues versus the prior quarter. We ended the quarter with $102.6 million of cash, cash equivalents, marketable securities and restricted cash. During the quarter, we used $19 million of cash, of which $4.2 million was related to onetime integration and employee-related costs. Adjusted cash usage during the quarter was $14.7 million. The first quarter is our highest quarter of cash usage, similar to many companies due to approximately $11 million of annual payments such as insurance renewals and annual bonuses. As we look ahead, we expect our cash usage to move meaningfully lower as these annual payments are behind us and we make progress towards our cash flow breakeven target. Finally, turning to guidance for 2026. We are maintaining our guidance for the full year 2026, and we continue to expect to report approximately $169 million to $174 million of revenue. We expect GAAP gross margin to be in a range of 41% to 45% and non-GAAP gross margins to be in a range of 49% to 53%. In the first quarter, we changed our accounting policy for classifying shipping and handling costs for product sales to record them within gross margin. Historically, they were recorded in SG&A expenses. We believe this classification is preferable because it better aligns costs with related revenue and is consistent with our peers. We reflected this reclassification in our GAAP margin guidance, but there is no change to the underlying non-GAAP margin expectation. We continue to anticipate achieving cash flow breakeven in the second half of the year and expect to end the year with cash in the range of $100 million with no debt. And finally, in terms of our quarterly cadence, we expect second quarter revenues to be roughly in line to slightly ahead of Q1, and we expect that the commercial initiatives that we're investing in will help to drive increased revenues in the second half of 2026. I will now turn it back over to Everett for closing remarks. Everett Cunningham: Thanks, Vandana. We're moving quickly. We're making decisions that will improve our commercial effectiveness, streamline our product management priorities and also enable Quanterix to capitalize on a compelling opportunity in the Alzheimer's diagnostics market. And we're doing all this while moving Quanterix closer to cash flow breakeven performance. And with that said, I'd like to turn it over back to Josh for questions and answers. Joshua Young: Thank you. Preyila, please assemble the Q&A roster. Operator: And your first question comes from the line of Kyle Mikson with Canaccord. Kyle Mikson: Good to hear all these updates here changes and so forth. I guess, Everett, the one that sticks out to me is the preparation for the IVD submission for HD-X in '27. I guess like the question is kind of like why do you need IVD for that system? You talked about, I think pharma important there as well as a distributed model. But maybe just dive into is that -- is this needed more for Alzheimer's, neurology or oncology? Is that part of the aspiration here? And then maybe like a decentralization strategy internationally. I'm curious if that's in the works as well because when you think about this compared to some other platforms that we know of, it could be interesting to think about long term. Everett Cunningham: I appreciate the question. And I will just go back to my last 3 months of being out in the market, talking to customers. We're investing in our HD-X platform because it's our workhorse. We have a really good robust installed base. It's our installed base. The timing of it fits nicely to our diagnostics build-out. And also with making the machine more reliable, it's also going to benefit our research customers, too. So when we build the machine, it is for 2 reasons. First of all, it will solidify our research-only business. It will get us ready for diagnostics, and it will give us what I would just say, optionality to have a distributed plan for our lab partners, both domestically and internationally. And that's why we've made the choice of really prioritizing our focus in getting that machine IVD ready in 2027. Kyle Mikson: Yes. Okay. That was great. And then maybe just a follow-up. What's the status of the Simoa 1 platform? And honestly, I think you were talking about like an early access last quarter. And that platform, I believe, was -- had some translational use cases like may be higher plex. And so I feel like given the focus on pharma going forward, it could have actually aligned with that. So could you just give us an update there? Everett Cunningham: Yes, absolutely. And thanks. We're still very focused on being technology leaders in the marketplace. And Simoa ONE is part of our next generation. We are still doing early access with Simoa ONE. We're getting feedback from our customer, and we're looking to take that feedback and actually help us with our HD-X next generation and our HD-X upgrade. So Simoa ONE still is part of our portfolio, and we're getting really good feedback. Kyle Mikson: Awesome. And then finally, on proteomics competition relevant recently, obviously. You guys obviously targeting low plex, a little bit of mid-plex. You got the sensitivity advantage that probably is driving this firm hold on the low-plex market, we would hope. Can you just talk about what you're seeing competitively over the last few months and maybe going forward and just speak to your conviction level that you're going to maintain this share or increase it? Everett Cunningham: Yes. We feel -- and I'll have Vandana help me too. We feel really good about our position in the spatial low plex market. We have 10x the number of low-plex assays available in the marketplace. compared to our competition. Our installed base in this space is larger than our competition. Quanterix focuses on part of the translational research market that includes later-stage clinical trials, of which reproducibility is really, really important. Again, feedback from our customers, we lead in that space. Where I see benefits of our spatial business moving forward, our tools, our technology is market-leading. We're going to improve our reach to our customers. We're putting in more marketing investments. We have amazing exciting launches in the spatial space, and we feel that's going to give us a boost in the second half. Vandana, I don't know if you want to mention anything else? Vandana Sriram: No, I think that's exactly right. On the Simoa front, while there has been a lot of talk of competition, I think all of the data and all of the research suggests that we have the broadest menu as well as the greatest level of sensitivity as well as lot-to-lot and lab-to-lab reproducibility versus anyone in the market. And then on the spatial side, with a concentration both in the research and in the clinical side, there's a lot of exciting things going on there. As Everett said, we're now going to kind of turbocharge that to make sure we're getting the right share of market that we deserve. Operator: The next question comes from the line of Puneet Souda with Leerink Partners. Puneet Souda: So I'll ask my questions in one. First, Everett, great to see the actions you're taking on the diagnostics side, bringing in leadership and investing into that business. Just wanted to get a sense of the level of investment that you need there? And how should we expect -- what should we expect for Alzheimer's in the overall guide here? This looks like a second half weighted guide. So I just wanted to get a sense there. And then could you maybe also elaborate as you transition some of the business or the focus from the core tool side to the diagnostics side, is there a chance for any air pocket? Obviously, that's a question that we frequently get from investors. Everett Cunningham: Yes. Maybe I'll start out with just the diagnostics investments, Puneet. Listen, I feel good about bringing in a seasoned leader. I'll give you a little bit of background. I can't name the person specifically yet, but in a couple of weeks, we'll be able to name. This leader has 25-plus years in diagnostics. I've worked with this leader before. Not only the sales side, but they know important customers in this space. They've had really good payer and reimbursement interactions. They know the blood-based biomarker business. And so it's like the perfect fit for Quanterix and where we are now. So that's one. And this person, along with many others here at Quanterix is going to help me build out that end-to-end plan. What we're investing this year, I feel is really appropriate. We're adding right now feet on the street that will help us sell LucentAD Complete and also help with our lab partnership that we have going now. We're investing in clinical utility studies. Those clinical utility studies will read out in the second half. And we're thinking about what is the next phase that we need also to continue to move this forward. And then just to me, I look at this as a surround sound type thing when I think of diagnostics. Our lab infrastructure needs to be ready for order to cash. And so we're investing in our lab infrastructure, too. We will be ready once we get FDA clearance in the second half, we will be ready to what I would say, scale. The last thing I'll mention for a diagnostic standpoint, and I've always thought this way, even back in my Exact Sciences and Quest Diagnostics days, we're not going to do this alone. We're going to have smart, unique partnerships to help us scale this business, and we started now. Our partnership with Tempus AI is a great example of what we're doing and how we're creating scale in the business. We have lifeline screening, again, more scale in helping us get our LucentAD and our LucentAD complete that's out there. We'll do the same once we get FDA clearance of how do we organically build scale, but how do we create really smart partnerships moving forward. Vandana Sriram: Yes. And Puneet, to address your questions on what this means from a financial perspective, we've always had a baseline level of investment in Alzheimer's diagnostics, frankly, for the last 3 or 4 years at this point. What we're doing in this plan right now is being very, very deliberate on where our investments go. We've streamlined projects in other parts of the business where perhaps that payback was not as immediate as these are. And that's what's helping us fund both the commercial acceleration as well as the acceleration in the diagnostics platform. And then from a revenue perspective, as you know, we did almost $10 million of revenue from our partners in 2025. Our expectation is that we have about the same level in 2026. We'll probably have less instrument sales, but an increase in consumable sales as our partners start to do more tests. We're not counting on revenues from direct testing in 2026. We think it will take some time for that to inflect. If that happens sooner, that will be helpful to us, but we're not counting on that picking up very quickly. Everett Cunningham: And Puneet, the last part of your question in terms of how do you balance both. My first 3 months here, I've had a lot of interaction with our commercial colleagues with Ben Meadows, our new Chief Commercial Officer. We have a solid research business, research tools business. The relationship that they have with the customers in the academic space and the research space, it's really, really deep, and we're going to help them get even deeper with the enhancements that I talked about during my remarks. It's an end, and we're going to build up that same expertise on the diagnostics side. Today, we have the appropriate size of our diagnostics business just based on where we are. But the new leader that's coming in will build a plan that will assume, again, FDA clearance. We have a good price crosswalk. We're going to get scalable reimbursement. We will be able to toggle very quickly to build out scale in our diagnostics. We're going to balance on both research, tools and diagnostics. Operator: The next question comes from the line of Dan Brennan with TD Cowen. Daniel Brennan: Maybe first one, just it was already kind of asked in one way in terms of the guide. So if you're kind of flattish in Q2, it implies almost like a 40% back half sequential like second half, first half. So could you just break down a little bit more what would be the drivers of that? Do you want to share any color, maybe instruments, consumables and service, maybe core Quanterix versus spatial? And then I can have a few more questions. Everett Cunningham: Yes, Dan, let me talk about the investments that we're making that these aren't investments that have a year ROI. And I'm just taking this from my past experience of, hey, we need to build out momentum within the next few quarters. These are the investments that we're making. Let me just maybe give a couple of them color to give confidence of our second half ramp. Our lead generation reps are critical to our growth. Our lead generation reps are working with our marketing team and taking our robust leads that we have and making them credible, making phone calls to ensure that when they hand them over to our sales reps, those leads are ready to buy. We've already instituted lead generation reps. And in the first 3 weeks, we're seeing a market difference in terms of net new opportunities. So I look at in the second half, our net new opportunity growth to be absolutely better than it was in Q1. Secondly, our marketing. We have appropriately put investments in marketing on both the Simoa and spatial side of the business to develop more of a multichannel approach. So I always like to say we're selling when people are sleeping. So we feel that's going to be a major benefit to our business. And then lastly, what I'll add is we are looking strategically at areas to where we could put just more feet on the street on the commercial team today. And like I said, Ben Meadows and the team have done a good job of, again, not overhauling, so we create disruption, but strategically putting more feet on the street so we can get more opportunities in the second half. Vandana Sriram: I think the only thing I'd add there, Dan, is there's also a lot happening on the product side. We recently announced a new molecular barcoding option for customers, which gives our spatial customers a whole new channel for self-serve opportunities on the assays. We also have a handful of assay launches as we generally do that are now coming online and are expected to have more of an impact in the second half of the year. Daniel Brennan: Great. Okay. Are you guys assuming end markets improve as part of the outlook? Obviously, it has been challenging, but we've heard various signs of things getting a little bit better here. Just wondering how you think about that as you contemplate like the improvement in addition to obviously, all the critical company-specific things you're doing? Vandana Sriram: Yes. So on the end markets, on the pharma side, we do think that the end markets are strong. It has really been a little bit of the focus that's been lacking on our side, which we've already started to correct and we're starting to see the results on. The academic side was a little bit slow in the first 3, 4 months of the year. As you know, overall funding slowdown has been a little bit slow. So we're not counting on a big rebound over there, but we do think there might be a small amount of improvement as we get towards the end of the year. But we're not assuming markets change materially. We're really assuming that a lot of the growth is going to happen from our actions, both on the product side as well as on the commercial side. Everett Cunningham: And the only thing I'll add, again, just from an execution standpoint, in the first quarter, start of the second quarter, the communications, the sales calls, the KOL kind of interaction has been very, very solid on our side. We're not waiting for markets to improve. And I think those conversations, that consistent relationship connection that we have with our critical customers, when markets do improve, we will be there to capitalize on that. Daniel Brennan: Great. And then you listed, I think, 4 studies in the press release or maybe in the deck. Are any of those -- I mean, obviously, I'm sure they're all important. Otherwise, you wouldn't have listed them. But any of them stand out more than not in terms of either that will play into FDA play into the label or will they all just be pieces of the puzzle as you build the marketing plan on your diagnostic assay? Everett Cunningham: Yes. Listen, I like the studies that we have. First of all, they're with 3 credible partners, the study dynamics that I've been reviewing on a weekly basis. We're hitting really good enrollment. The settings are mostly in that -- where people are being treated in the specialty care and primary care setting. It demonstrates how LucentAD Complete changes clinical decision-making and patient outcomes. So we're looking at the right things from a clinical utility everyday diagnostic standpoint. I will also add too, I'm excited about the timing. The timing is spot on for us to read out in the second half of 2026, and that will just bolster our meetings with payers to get widespread reimbursement. Daniel Brennan: If I can sneak one final in. Just on the spatial side for Akoya, since you do break it out, like is there an implicit assumption and maybe you've already done this at 4Q when you set the initial guidance, but how are you thinking about kind of the contribution organically for spatial in 2026? Vandana Sriram: Yes. We didn't break out the guide between Simoa and spatial just because they are starting to -- we are starting to kind of report them all together. Our expectation of mix between Simoa and spatial between 2025 and 2026 was relatively consistent though. Operator: Thank you. And there are no further questions at this time. Ladies and gentlemen, this now concludes today's conference call. Thank you all for joining. You may now disconnect. Before you buy stock in Quanterix, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Quanterix wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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Q1 revenue was $36.4 million (up 20% YoY) but organic revenue declined ~21% as several instrument sales were pushed into Q2; the company ended the quarter with about $102.6 million in cash and no debt. Management is shifting “from integration to investing” after realizing roughly $85 million of Akoya synergies, prioritizing commercial execution to reaccelerate pharma business and leverage an installed base of over 2,300 instruments. Quanterix is ramping diagnostics efforts—boosting investment in LucentAD, partnering with Tempus AI, expecting potential FDA clearance in H2 2026 and targeting Simoa HD‑X IVD readiness in 2027—while maintaining 2026 revenue guidance of ~$169–174 million and targeting cash-flow breakeven in H2 2026. Interested in Quanterix Corporation? Here are five stocks we like better. Quanterix (NASDAQ:QTRX) reported first-quarter 2026 revenue of $36.4 million, up 20% year-over-year, as leadership outlined operational and commercial changes aimed at improving execution in a challenging end-market backdrop. The company also highlighted stepped-up investment in its Alzheimer’s diagnostics efforts, including a newly announced partnership with Tempus AI and plans to pursue IVD readiness for its Simoa HD-X platform in 2027. President and CEO Everett Cunningham, speaking after his first 100 days in the role, said he believes Quanterix has “a clear path towards profitability for our research tools business” and a balance sheet to support diagnostics ambitions, citing “approximately $100 million in cash and no debt.” He emphasized the company’s position in ultrasensitive protein biomarker quantification and spatial proteomics, noting an installed base of over 2,300 instruments. → Berkshire Hathaway’s Record Cash Hoard: Why and What's Next? Cunningham said management is moving the company “from a mode of integrating and realizing synergies to a mode of investing and growing our business for long-term growth,” while still targeting annual operating goals. He pointed to the completion of “$85 million of cost synergies from the Akoya acquisition” as a foundation for the next phase of execution. Chief Financial Officer Vandana Sriram said first-quarter results reflected stable consumables performance but slightly weaker instrumentation results, with “a handful of instrument transactions getting pushed into the second quarter.” She added that organic revenue declined 21% year-over-year. → A Prada Payday: Is AMC Back in Style? By segment, Sriram reported Simoa revenue of $24.0 million and spatial revenue of $12.4 million. She said spatial revenue was down 26% year-over-year. Instrument revenue: $4.0 million (including $2.3 million from Simoa and $1.7 million from spatial), with 16 Simoa and 11 spatial instruments placed Consumables revenue: $21.4 million (including $14.5 million in Simoa and $6.9 million in spatial) Accelerator lab services: $4.3 million (including $3.5 million in Simoa and $0.8 million in spatial) Revenue from diagnostics partners was $2.9 million, up from $1.6 million in the first quarter of 2025, which Sriram attributed to increased volume for a single biomarker test from diagnostics enablement partners. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% Sriram said the quarter’s customer mix was “meaningfully skewed to academia,” representing about 65% of revenue. On a pro forma basis (assuming Quanterix and Akoya were combined for the full year), she said academic revenue declined approximately 16% in the quarter. Pharma revenue declined 33% year-over-year, which she attributed “primarily due to fewer large accelerator projects and spatial instruments placed.” Cunningham said Quanterix is making several investments intended to improve commercial effectiveness, including elevating pharma partnerships and the accelerator business under an experienced senior leader. “This important business has slipped in recent quarters, and we are changing that now,” he said, adding that he expects “frequent and candid dialogues” with pharma clients. Additional commercial initiatives discussed on the call included expanding lead generation representatives, adding market development leaders to support sales training and positioning, and leveraging Thermo Fisher’s distribution capabilities to improve online access and reduce manual quote work. For the quarter, Sriram reported gross profit of $15.6 million and GAAP gross margin of 42.7%. Non-GAAP gross profit was $18.5 million and non-GAAP gross margin was 50.9%. She said the Akoya synergies were “apparent” in margin performance, noting that the company maintained non-GAAP gross margin above 50% despite reduced pro forma revenue. Operating expenses were $56.9 million, including approximately $22 million related to acquisition, integration, restructuring, and purchase accounting. Sriram highlighted a “$19 million one-time write-off from an intangible asset related to the termination of an Akoya Biosciences development agreement,” offset by $22 million of liabilities written off in other income, resulting in net non-cash income of $2.3 million from the termination. Non-GAAP operating expenses were $34.7 million, down about $2.3 million sequentially due to synergies. Adjusted EBITDA was a loss of $9.8 million, a sequential improvement of $1.5 million. Quanterix ended the quarter with $102.6 million of cash equivalents, marketable securities, and restricted cash. Cash used in the quarter was $19.0 million, including $4.2 million tied to one-time integration and employee-related costs, for adjusted cash usage of $14.7 million. Sriram said the first quarter is typically the highest cash-usage quarter due to annual payments such as insurance renewals and bonuses. Cunningham said Quanterix is increasing investment in its Alzheimer’s diagnostics business, centered on its LucentAD Complete test, and is preparing for anticipated FDA clearance in the second half of 2026. He said the company is hiring a diagnostics leader who will report directly to him, describing the incoming executive as having “25 plus years in diagnostics” and experience across sales, payer and reimbursement interactions, and blood-based biomarker testing. Cunningham said the name would be shared “in a couple of weeks.” Among key initiatives, Cunningham said Quanterix is upgrading its next-generation Simoa HD-X platform and expects to file for IVD status with the FDA in 2027. In response to analyst questions, he said prioritizing HD-X reflects customer feedback and the platform’s role as the company’s “workhorse” with the largest installed base, adding that IVD readiness is intended to “solidify our research-only business,” support diagnostics readiness, and provide “optionality to have a distributed plan for our lab partners, both domestically and internationally.” Cunningham also announced a partnership with Tempus AI. Under the agreement, LucentAD Complete will be integrated into EHR systems at select Tempus Partner Health system locations as part of the Tempus Next program. He said eligible patients will be flagged using a proprietary algorithm, with testing available for order at a clinician’s discretion. On the financial contribution of Alzheimer’s-related partner activity, Sriram said Quanterix did almost $10 million of revenue from partners in 2025 and expects “about the same level in 2026,” with “less instrument sales, but an increase in consumable sales as our partners start to do more tests.” She added, “We’re not counting on revenues from direct testing in 2026,” while noting that earlier uptake would be beneficial. Quanterix maintained full-year 2026 guidance of approximately $169 million to $174 million in revenue. The company expects GAAP gross margin of 41% to 45% and non-GAAP gross margin of 49% to 53%. Sriram also noted an accounting policy change to classify shipping and handling costs for product sales within gross margin (previously in SG&A), which was reflected in GAAP margin guidance but did not change the underlying non-GAAP margin expectation. The company reiterated expectations to achieve cash flow breakeven in the second half of 2026 and to end the year with cash in a range of $100 million with no debt. For quarterly cadence, Sriram said second-quarter revenue is expected to be roughly in line to slightly ahead of Q1, with commercial initiatives intended to drive increased revenue in the second half. On whether guidance assumes a macro improvement, Sriram said the company is “not assuming markets change materially” and expects growth to come “from our actions,” including product and commercial initiatives. Cunningham echoed that the company is “not waiting for markets to improve.” Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics. The company's core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers. The article "Quanterix Q1 Earnings Call Highlights" was originally published by MarketBeat.