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Sep 30, 2022
Quanterix Q3 2022 Earnings Report
Quanterix's Q3 2022 operating results were released, revealing revenue flat compared to the previous year excluding RADx, and a proforma gross margin decline due to increased inventory reserves and changes in expense allocation.
Key Takeaways
Quanterix reported its Q3 2022 results with revenue flat compared to the prior year, excluding RADx. The company's proforma gross margin decreased due to increased inventory reserves and changes in expense allocation. A restructuring and business re-alignment plan was announced in August 2022 to enhance the potential of Simoa platforms.
Third quarter results aligned with expectations following the launch of an assay quality remediation program.
Revenue and gross margin grew quarter-over-quarter.
Consumable revenue declined as the company balanced demand with assay quality and process improvement initiatives.
Strong services revenue offset consumable revenue decline, driven by a collaboration agreement with Eli Lilly and Company.
Forward Guidance
No forward guidance was provided in the press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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