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Sep 30, 2023
Quanterix Q3 2023 Earnings Report
Quanterix experienced revenue growth and margin expansion in Q3 2023.
Key Takeaways
Quanterix reported an 18% increase in revenue to $31.3 million and improved gross margins in Q3 2023. The company launched the LucentAD p-Tau 217 blood-based test for Alzheimer's disease and increased full-year revenue expectations.
Revenue increased by 18% to $31.3 million compared to the prior year period.
GAAP gross margin was 56.8%, up from 41.1% in the corresponding prior year period.
Net loss decreased to $7.8 million, compared to a net loss of $35.1 million in the prior year period.
The company launched LucentAD p-Tau 217, a new blood-based biomarker test for Alzheimer's disease.
Revenue by Segment
Forward Guidance
Management has increased full-year revenue expectations to be in the range of $118 to $120 million. GAAP gross margin percentage is expected to be in the high 50’s, and non-GAAP gross margin percentage is expected to be approximately 50%. The Company now anticipates 2023 cash usage in the range of $20 to $25 million.
Positive Outlook
- Full-year revenue expectations increased to $118 to $120 million.
- GAAP gross margin percentage is expected to be in the high 50’s.
- Non-GAAP gross margin percentage is expected to be approximately 50%.
- Cash usage is anticipated to be in the range of $20 to $25 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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