Quanterix Corporation (QTRX)
NASDAQ:QTRX
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Quanterix
(NASDAQ:QTRX)
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Rating:47Neutral
Price Target:
$3.50
▲(3.24% Upside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by deteriorating profitability and accelerating cash burn, alongside a bearish technical setup. Offsetting factors include a low-debt balance sheet and management’s plan for cost synergies and cash-flow breakeven in H2 2026, but modest pro forma growth and organic demand weakness keep the outlook constrained.
Positive Factors
Recurring consumables & instrument placements
Growing instrument placements expand the installed base and drive repeat consumables purchases, creating a durable, utilization-tied revenue stream. This installed-base model supports predictable recurring revenue and margin leverage as utilization rises, underpinning multi-quarter revenue stability.
Negative Factors
Margin deterioration
A sharp, sustained gross margin decline erodes operating leverage and forces higher revenue growth to achieve profitability. If margins remain depressed, the company will need deeper structural cost cuts or higher-margin product uptake to reach breakeven, increasing execution risk over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables & instrument placements
Growing instrument placements expand the installed base and drive repeat consumables purchases, creating a durable, utilization-tied revenue stream. This installed-base model supports predictable recurring revenue and margin leverage as utilization rises, underpinning multi-quarter revenue stability.
Read all positive factors
Quanterix (QTRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$157.72M
Dividend YieldN/A
Average Volume (3M)509.80K
Price to Earnings (P/E)―
Beta (1Y)1.50
Revenue Growth-2.69%
EPS Growth-149.18%
CountryUS
Employees471
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.49
Shares Outstanding46,939,976
10 Day Avg. Volume461,526
30 Day Avg. Volume509,801
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.92
Price to Sales (P/S)1.95
P/FCF Ratio-3.40
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue1.20
Enterprise Value/Gross Profit2.57
Enterprise Value/Ebitda-1.69
Forecast
1Y Price Target
$7.50Price Target Upside121.24% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-1.35
Revenue Forecast (FY)$170.84M
Quanterix Business Overview & Revenue Model
Company Description
Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and ...
How the Company Makes Money
Quanterix primarily makes money by selling and supporting its biomarker testing ecosystem, with revenue generally coming from a mix of (1) instrument sales, (2) recurring consumables, and (3) services and other revenue. Instrument revenue is gener...
Quanterix Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: GAAP revenue growth (+25% YoY), meaningful diagnostic milestones (CMS reimbursement and FDA 510(k) submission), product launches, margin improvement, synergy realization and a strong cash position are positive signs. However, significant organic revenue declines (-22% overall; Simoa -22%; Spatial -23%/ -16% ex-agreement), soft pharma demand (-21%), a dilutive terminated agreement and continued adjusted EBITDA losses highlight material near-term challenges. Management emphasized synergy delivery, improved cash usage and an expectation of cash-flow breakeven in H2 2026, but pro forma top-line growth guidance is modest (~+2% at midpoint) and execution against diagnostic commercialization and market recovery remains critical.Positive Updates
Quarterly Revenue Growth (GAAP)
Total revenue for Q4 was $43.9 million, up 25% year-over-year and up 7% sequentially, driven in part by acquisitions and release of pent-up demand from academic customers.
Negative Updates
Significant Organic Revenue Decline
Organic revenue declined 22% year-over-year in the quarter, indicating underlying demand softness despite GAAP revenue growth from acquisitions and mix effects.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Growth (GAAP)
Total revenue for Q4 was $43.9 million, up 25% year-over-year and up 7% sequentially, driven in part by acquisitions and release of pent-up demand from academic customers.
Read all positive updates
Company Guidance
Management guided 2026 revenue of approximately $169 million to $174 million (assuming no underlying improvement in academic or pharma end markets) and said the terminated diagnostics development agreement (which generated $5.6 million in 2025) will have minimal impact; on a pro forma basis excluding that agreement, revenue is expected to increase about 2% at the midpoint. They expect GAAP gross margin of 45%–49% and non‑GAAP gross margin of 49%–53%, anticipate achieving cash‑flow breakeven in the second half of 2026, and plan to end the year with roughly $100 million of cash and no debt. Management also noted similar seasonal quarterly pacing as prior years and remains on track to hit an $85 million cost‑synergy target (with $74 million already implemented and the remainder expected by the end of Q1), which supports the breakeven outlook.Quanterix Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
66
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 138.90M | 135.44M | 121.14M | 105.52M | 110.56M |
| Gross Profit | 64.96M | 81.12M | 73.00M | 45.36M | 64.77M |
| EBITDA | -68.49M | -44.26M | -36.37M | -67.89M | -51.64M |
| Net Income | -107.15M | -38.53M | -28.35M | -99.57M | -55.55M |
Balance Sheet | |||||
| Total Assets | 418.77M | 406.53M | 428.57M | 433.58M | 506.51M |
| Cash, Cash Equivalents and Short-Term Investments | 118.23M | 289.12M | 321.32M | 338.74M | 396.46M |
| Total Debt | 37.24M | 37.37M | 41.46M | 44.10M | 21.89M |
| Total Liabilities | 123.04M | 76.50M | 78.61M | 75.65M | 65.56M |
| Stockholders Equity | 295.73M | 330.04M | 349.96M | 357.93M | 440.95M |
Cash Flow | |||||
| Free Cash Flow | -79.85M | -38.53M | -22.69M | -60.00M | -61.52M |
| Operating Cash Flow | -77.24M | -35.16M | -18.90M | -48.27M | -47.91M |
| Investing Cash Flow | 50.23M | -82.27M | -148.40M | -11.21M | -6.34M |
| Financing Cash Flow | -708.00K | 456.00K | 2.69M | 2.31M | 270.80M |
Quanterix Technical Analysis
Negative
3.39
Price Trends
5.03
Negative
5.98
Negative
5.71
Negative
Market Momentum
-0.50
Negative
29.36
Positive
15.62
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QTRX, the sentiment is Negative. The current price of 3.39 is below the 20-day moving average (MA) of 3.84, below the 50-day MA of 5.03, and below the 200-day MA of 5.71, indicating a bearish trend. The MACD of -0.50 indicates Negative momentum. The RSI at 29.36 is Positive, neither overbought nor oversold. The STOCH value of 15.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QTRX.
Quanterix Risk Analysis
Quanterix disclosed 45 risk factors in its most recent earnings report. Quanterix reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Quanterix Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $367.11M | 19.35 | 10.87% | ― | 18.90% | 29.22% | |
58 Neutral | $266.89M | 9.76 | 13.25% | ― | 4.49% | 3.61% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $76.82M | -0.69 | -54.99% | ― | 4.65% | 68.71% | |
50 Neutral | $258.71M | -6.74 | 137.18% | ― | 49.52% | 19.34% | |
47 Neutral | $157.72M | -2.53 | -29.28% | ― | -2.69% | -149.18% | |
47 Neutral | $144.74M | -4.35 | -32.46% | ― | 15.19% | -3.32% |
* Healthcare Sector Average
QTRX
Quanterix
3.39
-2.21
-39.46%
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7.20
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62.90%
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4.35
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.