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Jun 30, 2023
Quanterix Q2 2023 Earnings Report
Quanterix's Q2 2023 financial performance, marked by revenue growth and margin expansion, driven by strategic transformation initiatives, was released.
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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