Quanterix ( (QTRX) ) has released its Q4 earnings. Here is a breakdown of the information Quanterix presented to its investors.
Quanterix Corporation, a leader in ultra-sensitive biomarker detection, operates within the biotechnology sector, focusing on advancing scientific discovery through its innovative Simoa technology. The company is renowned for its precision instruments and digital immunoassay technology, which are pivotal in research across various fields such as neurology and oncology.
In its latest earnings report, Quanterix announced a 11% revenue growth for the fourth quarter of 2024, marking the seventh consecutive quarter of double-digit growth. Despite a challenging economic environment, the company continues to expand its market reach, particularly in immunology and oncology, and has announced a strategic acquisition of Akoya Biosciences to enhance its capabilities.
Key financial highlights include a fourth-quarter revenue of $35.2 million, up from $31.5 million the previous year, and a GAAP gross margin improvement to 63%. However, the company reported a net loss of $11.6 million, which increased from the previous year’s $8.8 million loss. For the full year, Quanterix achieved a revenue of $137.4 million, a 12% increase, despite a net loss of $38.5 million.
Strategically, Quanterix is set to launch the Simoa ONE instrument by the end of 2025, promising significant advancements in sensitivity and efficiency. The acquisition of EMISSION and the launch of new assays further strengthen its portfolio, while the FDA’s Breakthrough Designation for its LucentAD Complete test underscores its innovation in Alzheimer’s disease testing.
Looking ahead, Quanterix projects a revenue growth of 2% to 6% for 2025, excluding the impact of the Akoya acquisition. The company remains focused on expanding its market presence and enhancing its product offerings, positioning itself for continued growth in the biotechnology sector.