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Mar 31, 2023
Quanterix Q1 2023 Earnings Report
Quanterix's Q1 2023 results reflected a decrease in revenue, but showed improvement in gross margin and net loss.
Key Takeaways
Quanterix reported a decrease in revenue by 4% compared to Q1 2022, driven by a decline in instrument revenue, while net loss decreased by 66%. The company saw strong quarter-over-quarter improvement in gross margin and launched a new NfL LDT to expand its lab developed test menu.
Total revenue was $28.5 million, a decrease of 4% compared to Q1 2022, driven by a decline in instrument revenue, but increased 10% from Q4 2022 due to increased consumable revenue.
GAAP gross margin improved to 59.5% compared to 49.3% in Q1 2022 and 48.8% in Q4 2022.
Net loss decreased by 66% to $6.1 million compared to $18.2 million in Q1 2022.
Cash burn for Q1 was $9.1 million, leaving $329.4 million of unrestricted cash as of March 31, 2023.
Revenue by Segment
Forward Guidance
Quanterix anticipates revenues to be in the range of $104 to $111 million. They expect GAAP gross margin percentage to be in the high 40s and non-GAAP gross margin percentage to be in the mid 40s. Expected cash burn for 2023 is unchanged, and they expect an approximately 10% improvement over 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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