Quanterix (QTRX) AI Stock Analysis

• Market Cap: $376.49M
• Dividend Yield: N/A
• Average Volume (3M): 509.80K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.29
• Revenue Growth: -2.69%
• EPS Growth: -149.18%
• Country: US
• Employees: 471
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.73
• Shares Outstanding: 46,710,796
• 10 Day Avg. Volume: 461,526
• 30 Day Avg. Volume: 509,801
• PEG Ratio: -0.65
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 2.97
• P/FCF Ratio: -10.58
• Enterprise Value/Market Cap: 0.09
• Enterprise Value/Revenue: 0.26
• Enterprise Value/Gross Profit: 0.50
• Enterprise Value/Ebitda: -0.35
• 1Y Price Target: $7.50
• Price Target Upside: 1.90% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $6.50 ▼(-11.68% Downside)

The score is held back primarily by weak financial performance—large losses and negative operating/free cash flow—despite a solid balance-sheet leverage profile. Offsetting factors include a relatively positive earnings-call outlook with integration synergies and a path toward cash-flow breakeven, while technicals are roughly neutral and valuation is constrained by negative earnings and no dividend.

Positive Factors

Proprietary Simoa platform validated by large study

A Nature-published, large population study using Quanterix's Simoa p‑Tau 217 validates the platform's sensitivity and scalability. This scientific endorsement strengthens durable competitive positioning in neurology diagnostics, aids commercial adoption, and supports long-term clinical and trial partnerships.

Strong equity base and low leverage

A low debt-to-equity ratio and a high equity ratio provide financial flexibility to fund R&D, absorb operating shortfalls, and pursue strategic initiatives without excessive leverage. This durability supports multi-year investment in assays, diagnostics commercialization, and inorganic growth.

Material synergy realization from Akoya deal

Substantial realization of Akoya integration synergies meaningfully lowers cost base and accelerates path to breakeven. Combined with cross-selling between Simoa and Spatial portfolios, this structural revenue diversification and margin improvement enhances sustainable cash generation prospects.

Negative Factors

Negative operating and free cash flow

Sustained negative operating and free cash flow erode liquidity and force reliance on financing or equity raises. Over the medium term this constrains R&D and commercialization spending, increases dilution risk, and delays self-funded expansion until cash-flow positivity is reliably achieved.

Sharp decline in flagship Simoa revenue

A 36% organic drop in Simoa revenue signals weakening demand in Quanterix's core market, reducing the recurring consumable base and customer economics. If persistent, this undermines pricing power, slows installed-base driven revenue, and pressures long-term growth unless adoption rebounds.

Deep negative profitability and weak ROE

Severely negative net margins (and a reported negative ROE) reflect structural profitability issues. Persistent losses reduce reinvestment capacity, impair shareholder returns, and require sustained margin improvement or cost reductions to translate R&D and sales progress into durable, positive returns.

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 the Asia Pacific regions. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids. The company also provides SP-X instrument that is based on Simoa planar array technology for the measurement of multiplex chemiluminescent immunoassays. The company's products include assay kits and other consumables such as reagents. In addition, it offers contract research services, including sample testing, homebrew assay development, and custom development services. The company primarily operates in the areas of neurology, oncology, cardiology, infectious diseases, and inflammation. It sells its products for the life science research sector primarily to laboratories associated with academic and governmental research institutions, as well as pharmaceutical, biotechnology, and contract research companies through a direct sales force, support organizations, and distributors or sales agents. The company was formerly known as Digital Genomics, Inc. and changed its name to Quanterix Corporation in August 2007. Quanterix Corporation was incorporated in 2007 and is headquartered in Billerica, Massachusetts.

How the Company Makes Money

Quanterix generates revenue primarily through the sale of its Simoa platforms, consumables, and related services. Key revenue streams include the direct sales of instruments and assay kits to research institutions, pharmaceutical companies, and clinical laboratories. Additionally, the company earns revenue from service contracts and collaborations with pharmaceutical companies for drug development and biomarker discovery. Strategic partnerships with organizations in the biopharmaceutical sector enhance its market reach and contribute to its earnings, as these collaborations often involve joint research projects and technology licensing agreements.

Quanterix Financial Statement Overview

Summary

Quanterix faces significant financial challenges, with negative net profit margins and cash flows indicating operational inefficiencies. Despite a strong equity base and some revenue growth, profitability and cash flow management are major concerns.

Income Statement

Quanterix's income statement reveals a challenging financial position. The company has shown some revenue growth with a TTM increase of 3.88%, but profitability remains a significant issue. Gross profit margins are relatively healthy at 55.54% TTM, yet net profit margins are deeply negative at -56.23% TTM, indicating substantial losses. EBIT and EBITDA margins are also negative, reflecting ongoing operational challenges. The company needs to address its cost structure to improve profitability.

Balance Sheet

The balance sheet of Quanterix shows a moderate financial position. The debt-to-equity ratio is low at 0.12 TTM, suggesting manageable leverage. However, the return on equity is negative at -22.07% TTM, highlighting inefficiencies in generating returns for shareholders. The equity ratio stands at 70.84% TTM, indicating a strong equity base relative to total assets. Overall, while the company maintains a solid equity position, it struggles with profitability.

Cash Flow

Quanterix's cash flow statement indicates significant challenges. The company has a negative operating cash flow of -$65.09 million TTM, and free cash flow is also negative at -$68.22 million TTM. Despite a substantial free cash flow growth rate of 107.42% TTM, the operating cash flow to net income ratio is negative, reflecting cash flow issues. The free cash flow to net income ratio is positive at 1.11 TTM, suggesting some efficiency in converting net income to free cash flow, but overall cash flow management remains a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	128.98M	135.44M	121.14M	105.52M	110.56M	86.38M
Gross Profit	65.87M	81.12M	73.00M	45.36M	64.77M	48.18M
EBITDA	-93.33M	-44.26M	-36.37M	-67.89M	-51.64M	-27.27M
Net Income	-95.66M	-38.53M	-28.35M	-99.57M	-55.55M	-31.53M
Balance Sheet
Total Assets	444.14M	406.53M	428.57M	433.58M	506.51M	271.05M
Cash, Cash Equivalents and Short-Term Investments	134.81M	289.12M	321.32M	338.74M	396.46M	181.58M
Total Debt	40.12M	37.37M	41.46M	44.10M	21.89M	30.80M
Total Liabilities	129.61M	76.50M	78.61M	75.65M	65.56M	64.92M
Stockholders Equity	314.53M	330.04M	349.96M	357.93M	440.95M	206.13M
Cash Flow
Free Cash Flow	-68.22M	-38.53M	-22.69M	-60.00M	-61.52M	-27.30M
Operating Cash Flow	-65.09M	-35.16M	-18.90M	-48.27M	-47.91M	-23.36M
Investing Cash Flow	74.18M	-82.27M	-148.40M	-11.21M	-6.34M	-626.00K
Financing Cash Flow	-145.00K	456.00K	2.69M	2.31M	270.80M	96.24M

Quanterix Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.36
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Positive. The current price of 7.36 is above the 20-day moving average (MA) of 6.81, above the 50-day MA of 6.48, and above the 200-day MA of 5.76, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 58.46 is Neutral, neither overbought nor oversold. The STOCH value of 56.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for QTRX.

Quanterix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VMD	72 Outperform	$275.25M	22.08	10.53%	―	18.90%	29.22%
TLSI	54 Neutral	$289.79M	-2.91	―	―	49.52%	19.34%
QTRX	52 Neutral	$376.49M	-3.16	-29.28%	―	-2.69%	-149.18%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
NNOX	47 Neutral	$189.37M	-3.39	-34.75%	―	15.19%	-3.32%
OM	45 Neutral	$82.68M	-0.43	-92.33%	―	4.65%	68.71%
MASS	44 Neutral	$195.44M	-3.20	-42.72%	―	4.49%	3.61%

Quanterix Corporate Events

Quanterix Announces CEO Transition to Drive Growth

On January 8, 2026, Quanterix announced a planned leadership transition under which Everett Cunningham will become President and Chief Executive Officer and join the board on January 19, 2026, succeeding Masoud Toloue, who will step down as CEO, resign from the board and remain in an advisory role during the handover. The board highlighted Toloue’s role in expanding the assay menu, entering adjacent markets, building the diagnostics business and completing the acquisition of Akoya Biosciences, and framed Cunningham’s appointment—backed by a substantial mix of time- and performance-based equity tied to ambitious share-price hurdles—as a move to accelerate commercial execution and growth. Cunningham, a veteran commercial leader from Illumina, Exact Sciences, GE Healthcare, Quest Diagnostics and Pfizer, is being brought in as Quanterix disclosed that it expects to exceed its revenue and cash guidance for full-year 2025, signaling confidence in the company’s operational trajectory and reinforcing its ambition to scale its integrated biomarker and spatial biology platform for broader scientific and clinical impact.

The most recent analyst rating on (QTRX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Quanterix stock, see the QTRX Stock Forecast page.

Quanterix Announces Leadership Changes to Drive Growth

On November 20, 2025, Quanterix Corporation announced significant leadership changes to support its next phase of growth. Paul Meister and David Walt retired from the Board of Directors, while Garret Hampton and Alan Sachs were appointed as new members. Additionally, Bill Donnelly was named Executive Chair, and Jeffrey Elliott was appointed Lead Independent Director. These changes aim to strengthen Quanterix’s strategic initiatives, including expanding its biomarker menu and accelerating growth following the Akoya acquisition. The Board now comprises nine members, with a focus on advancing the company’s mission to improve health outcomes.

The most recent analyst rating on (QTRX) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Quanterix stock, see the QTRX Stock Forecast page.