Quanterix Q2 2023 Earnings Report
Key Takeaways
Quanterix reported a 32% increase in total revenue to $31.0 million compared to the prior year's second quarter, with a GAAP gross margin of 61.7%. The company's net loss significantly decreased to $6.1 million, and net cash flow was approximately break-even.
Total revenue increased by 32% year-over-year to $31.0 million, driven by Accelerator Lab and consumables revenue.
GAAP gross margin improved to 61.7% from 37.1% in the prior year's second quarter.
Net loss decreased to $6.1 million compared to $24.9 million in the same quarter last year.
Cash and cash equivalents remained stable at $329.5 million as of June 30, 2023.
Quanterix
Quanterix
Forward Guidance
Management increased full-year revenue expectations to be in the range of $110 to $116 million, GAAP gross margin percentage to be in the low 50’s, and non-GAAP gross margin percentage to be in the high 40s. The Company also anticipates a lower 2023 cash burn, in the range of $30 to $35 million.
Positive Outlook
- Full-year revenue expectations increased to $110 to $116 million.
- GAAP gross margin percentage expected to be in the low 50’s.
- Non-GAAP gross margin percentage expected to be in the high 40s.
- 2023 cash burn anticipated to be in the range of $30 to $35 million.