Quanterix Reports $30.3 Million Revenue, Net Loss of $20.5 Million in Q1 2025

Quanterix Corporation reported its financial results for the first quarter of 2025, revealing a total revenue of $30.3 million, a decrease of 5% from $32.1 million in the same period last year. The decline was primarily driven by a significant drop in service revenue, which fell by 27% to $8.8 million, attributed to lower volumes of sample testing and the completion of a collaboration agreement with Eli Lilly. In contrast, product revenue increased by 5% to $20.7 million, bolstered by higher selling prices of consumables, although instrument sales remained flat. The company recorded a net loss of $20.5 million, compared to a loss of $11.2 million in the prior year, reflecting a 84% increase in losses.

The company's operating expenses rose sharply, totaling $42.8 million, a 27% increase from $33.7 million in the previous year. This increase was largely due to higher research and development costs, which surged by 49% to $10.0 million, driven by expenses related to the acquisition of Emission, Inc. Additionally, selling, general, and administrative expenses rose by 25% to $32.5 million, influenced by costs associated with the potential acquisition of Akoya Biosciences and other professional services. The gross profit margin also declined to 54.1%, down from 57.8% in the prior year, reflecting increased costs of goods sold.

Quanterix has made strategic moves to enhance its market position, including the acquisition of Emission, Inc. on January 8, 2025, for a total consideration of $16.6 million, which includes contingent payments based on performance milestones. This acquisition is expected to expand Quanterix's capabilities in the multiplex assay segment. Furthermore, the company is in the process of acquiring Akoya Biosciences, which specializes in spatial biology solutions, aiming to create a fully integrated technology ecosystem for biomarker identification and measurement.

As of March 31, 2025, Quanterix reported cash, cash equivalents, and marketable securities totaling $266.9 million, alongside an accumulated deficit of $490.6 million. The company anticipates continued operating losses over the next 24 months as it invests in research and development, expands its product offerings, and integrates recent acquisitions. The outlook remains cautious, with expectations of fluctuating revenues due to macroeconomic conditions impacting customer spending and capital funding environments.