Quanterix (QTRX) AI Stock Analysis

• Market Cap: $223.42M
• Dividend Yield: N/A
• Average Volume (3M): 819.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: 12.30%
• EPS Growth: -31.50%
• Country: US
• Employees: 471
• Sector: Healthcare
• Sector Strength: 74
• Industry: Medical - Devices
• EPS (TTM): -1.00
• Shares Outstanding: 38,789,024
• 10 Day Avg. Volume: 677,445
• 30 Day Avg. Volume: 819,256
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.71
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 1.95
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $12.13
• Price Target Upside: 110.59% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

Quanterix's overall stock score reflects a mixed outlook. Strong revenue growth and strategic acquisitions are positive, but persistent profitability issues and weak technical indicators weigh heavily. The company needs to improve operational efficiency to leverage its growth potential. Valuation concerns and market volatility further impact the score.

Positive Factors

Market Potential

QTRX has a solid offering in what is estimated to be a $9B Alzheimer's Dx market.

Product Offering

The acquisition offers QTRX access to a new offering in protein detection and strengthens its presence in immuno and oncology.

Strategic Expansion

QTRX's acquisition of AKYA is expected to enhance its strategic priorities, such as growing its menu and expanding into adjacencies.

Negative Factors

Acquisition Risks

The deal introduces significant costs and risks, including a 29% share dilution and increased volatility due to AKYA's financial pressures.

Financial Strain

The cash runway for the combined entity of Quanterix and Akoya is limited, potentially causing financial strain.

Market Challenges

Quanterix is facing pressures in its core academic markets, which account for a significant portion of its U.S. academic expenditure.

Quanterix Business Overview & Revenue Model

Company Description

Quanterix Corporation is a company operating in the biotechnology sector, specializing in advanced diagnostics. It develops and markets ultra-sensitive digital immunoassay platforms that enable researchers and clinicians to detect and quantify proteins and nucleic acids at extremely low concentrations. The company's flagship product, the Simoa (Single Molecule Array) platform, is utilized for various applications, including biomarker research, drug development, and disease diagnostics, particularly in neurological, oncological, and infectious disease fields.

How the Company Makes Money

Quanterix generates revenue primarily through the sale of its Simoa diagnostic platforms and related consumables, which are integral to its customers' research and diagnostic processes. The company also earns income by providing services such as sample testing and assay development, which support and enhance the utility of its platforms. Additionally, Quanterix engages in strategic partnerships and collaborations with pharmaceutical companies, academic institutions, and research organizations, which can lead to joint development agreements, grants, and licensing opportunities that contribute to its revenue. The company's focus on high-sensitivity diagnostics positions it to capitalize on the growing demand for precision medicine and advanced biomarker discovery.

Quanterix Financial Statement Overview

Summary

Quanterix shows strong revenue growth and a stable balance sheet with low leverage, but ongoing challenges with profitability and negative cash flows are concerning. The company needs to translate revenue into profitability to leverage its stable financial position.

Income Statement

Quanterix shows consistent revenue growth, with a notable increase from $122.37M in 2023 to $137.42M in 2024. However, profitability metrics are concerning, with a negative EBIT margin of -38.3% in 2024 and a net profit margin of -28%. The company has struggled to translate revenue growth into profitability, which is a significant area of concern.

Balance Sheet

The company maintains a strong equity position with a debt-to-equity ratio of 0.11 and a robust equity ratio of 81.2%. However, the consistent negative net income has impacted the return on equity, which remains negative. Quanterix's strong cash position and low leverage are positive indicators of financial stability.

Cash Flow

Operating cash flow remains negative at -$35.16M for 2024, reflecting ongoing operational challenges. Free cash flow also remained negative despite a reduction in capital expenditures. The company faces challenges in converting revenue growth into positive cash flows, an area that requires attention for long-term sustainability.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
135.44M	122.37M	104.95M	110.56M	86.38M
	Gross Profit
81.12M	70.65M	46.24M	61.73M	48.18M
	EBIT
-52.62M	-44.45M	-72.36M	-58.59M	-31.58M
	EBITDA
-52.62M	-38.09M	-65.73M	-53.24M	-27.27M
	Net Income Common Stockholders
-38.53M	-32.33M	-96.70M	-57.69M	-31.53M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
289.12M	321.32M	338.74M	396.46M	181.58M
	Total Assets
406.53M	425.01M	434.20M	501.53M	271.05M
	Total Debt
37.37M	41.46M	44.10M	21.89M	30.80M
	Net Debt
-19.34M	-132.96M	-294.64M	-374.57M	-150.79M
	Total Liabilities
76.50M	78.08M	75.26M	60.58M	64.92M
	Stockholders Equity
330.04M	346.93M	358.94M	440.95M	206.13M
Cash Flow		Free Cash Flow
-38.53M	-22.69M	-60.00M	-61.52M	-27.30M
	Operating Cash Flow
-35.16M	-18.90M	-48.27M	-47.91M	-23.36M
	Investing Cash Flow
-82.27M	-148.40M	-11.21M	-6.34M	-626.00K
	Financing Cash Flow
456.00K	2.69M	2.31M	270.80M	96.24M

Quanterix Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.76
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QTRX, the sentiment is Neutral. The current price of 5.76 is above the 20-day moving average (MA) of 5.46, below the 50-day MA of 6.54, and below the 200-day MA of 10.62, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 47.78 is Neutral, neither overbought nor oversold. The STOCH value of 64.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for QTRX.

Quanterix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ELMD	79 Outperform	$197.24M	30.53	16.11%	―	15.35%	71.35%
CERS	56 Neutral	$248.51M	―	-38.45%	―	15.29%	45.45%
RCEL	55 Neutral	$227.20M	―	-230.96%	―	32.24%	-66.93%
Sector *	52 Neutral	$5.28B	3.75	-42.72%	2.86%	17.70%	2.03%
LUNG	51 Neutral	$194.40M	―	-55.25%	―	22.01%	10.02%
QTRX	51 Neutral	$223.42M	―	-11.33%	―	12.30%	-31.50%
ANIK	49 Neutral	$208.38M	―	-20.21%	―	-8.92%	31.98%

Quanterix Corporate Events

Quanterix Revises Merger Terms with Akoya Biosciences

On April 28, 2025, Quanterix Corporation announced an amended merger agreement with Akoya Biosciences, revising the terms of their previously announced merger. Under the new terms, Quanterix will issue fewer shares and pay $20 million in cash to Akoya shareholders, with Quanterix shareholders owning 84% of the combined entity. This strategic move aims to create value for shareholders and leverage combined resources to drive synergies and expedite profitability. The merger is expected to close in the second quarter of 2025, pending Akoya shareholder approval and other customary conditions.

Spark’s Take on QTRX Stock

According to Spark, TipRanks’ AI Analyst, QTRX is a Neutral.

Quanterix’s overall stock score is weighed down by its financial performance challenges, particularly in achieving profitability and positive cash flows. The bearish technical indicators and concerning valuation further impact the score negatively. However, the strategic acquisition of Akoya Biosciences and the positive growth outlook from the earnings call provide some optimism, preventing a lower score.

To see Spark’s full report on QTRX stock, click here.

Quanterix Appoints William Donnelly as New Chairman

On March 24, 2025, Quanterix Corporation appointed William P. Donnelly as the new Chairman of the Board, succeeding Martin D. Madaus, Ph.D. This change follows Dr. Madaus’s decision to resign after receiving less than a majority of votes for his reelection at the 2024 annual meeting. The Board and its Nominating and Governance Committee reviewed the voting results and considered feedback from stockholders before deciding on the leadership change. Dr. Madaus’s resignation is not due to any disagreements with the company, and he is acknowledged for his service.

Quanterix Announces Acquisition of Akoya Biosciences

On March 3, 2025, Quanterix announced its proposed acquisition of Akoya Biosciences, aimed at creating the first integrated solution for ultra-sensitive detection of blood- and tissue-based protein biomarkers. The acquisition is expected to expand Quanterix’s market opportunities significantly, particularly in Alzheimer’s Disease diagnostics, and generate substantial cost synergies. The merger is anticipated to close in the second quarter of 2025, pending shareholder approvals. Additionally, Quanterix addressed the nomination of three candidates by Kent Lake Partners for its Board of Directors, emphasizing the strategic importance of the Akoya acquisition despite Kent Lake’s objections.