Quanterix Corporation (QTRX)
NASDAQ:QTRX
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Quanterix
(NASDAQ:QTRX)
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Rating:47Neutral
Price Target:
$3.00
▼(-14.29% Downside)
Action:Reiterated
Date:05/09/26
QTRX scores low primarily due to heavy ongoing losses and persistent negative free cash flow, despite a relatively low-debt balance sheet. Technicals also weigh on the score given a pronounced downtrend and negative momentum. The earnings call adds some support via reiterated guidance, >50% non-GAAP gross margins, and a path to H2 2026 cash-flow breakeven, but organic revenue declines and weaker pharma demand remain key risks.
Positive Factors
Installed Base & Market Position
A >2,300 instrument installed base creates a durable competitive moat: placements drive recurring consumable sales and lab dependence. This installed footprint supports predictable utilization-linked revenue and gives Quanterix leverage to cross-sell assays and software across neurology, oncology and research customers.
Negative Factors
Persistent Negative Cash Flow
Consistent negative operating and free cash flow signals ongoing cash burn despite cost actions. That structural cash shortfall raises reliance on external financing or equity issuance to sustain investments and reach breakeven, increasing dilution and execution risk if revenue recovery lags.
Read all positive and negative factors
Positive Factors
Negative Factors
Installed Base & Market Position
A >2,300 instrument installed base creates a durable competitive moat: placements drive recurring consumable sales and lab dependence. This installed footprint supports predictable utilization-linked revenue and gives Quanterix leverage to cross-sell assays and software across neurology, oncology and research customers.
Read all positive factors
Quanterix (QTRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$129.54M
Dividend YieldN/A
Average Volume (3M)509.80K
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue Growth6.85%
EPS Growth-90.71%
CountryUS
Employees471
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-2.36
Shares Outstanding47,105,980
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)1.96
P/FCF Ratio-3.40
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue0.89
Enterprise Value/Gross Profit2.01
Enterprise Value/Ebitda-1.43
Forecast
1Y Price Target
$4.00Price Target Upside14.29% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-1.48
Revenue Forecast (FY)$171.14M
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:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Neutral
The call mixed encouraging operational and financial progress—an increase in reported revenue, strong non-GAAP gross margins above 50%, delivery of $85M in synergies, a healthy cash balance (~$102.6M), and clear strategic investments in commercial capabilities and diagnostics (HD-X IVD push, Tempus partnership). Offsetting these positives are material organic revenue declines (Simoa -21%, spatial -26%), a 33% drop in pharma revenue, softer-than-expected instrumentation sales, and notable one-time acquisition-related charges. Management maintained full-year guidance and outlined concrete steps to drive H2 improvement and cash-flow breakeven, but near-term execution and end-market recovery remain key risks.Positive Updates
Total Revenue Growth (Reported)
Total revenue for Q1 2026 was $36.4 million, up 20% year-over-year, driven in part by acquisitions and partner revenue.
Negative Updates
Significant Organic Revenue Declines
Organic revenue declined 21% year-over-year overall. Simoa organic revenue declined 21% and spatial revenue declined 26% year-over-year, indicating softness in core research tool end markets.
Read all updates
Q1-2026 Updates
Positive
Negative
Total Revenue Growth (Reported)
Total revenue for Q1 2026 was $36.4 million, up 20% year-over-year, driven in part by acquisitions and partner revenue.
Read all positive updates
Company Guidance
Quanterix reiterated full‑year 2026 guidance of $169–$174M in revenue, GAAP gross margin of 41–45% and non‑GAAP gross margin of 49–53%, expects cash‑flow breakeven in H2 2026 and to end the year with ~ $100M cash and no debt, with Q2 revenues "roughly in line to slightly ahead" of Q1. In Q1 the company reported $36.4M revenue (up 20% YoY; organic revenue −21%), gross profit $15.6M (42.7% GAAP margin), non‑GAAP gross profit $18.5M (50.9% non‑GAAP margin), adjusted EBITDA loss of $9.8M (improved $1.5M sequentially), and $102.6M in cash after $19M cash used ($14.7M adjusted). Product detail: Simoa $24M (−21% organic), spatial $12.4M (−26%), instruments $4M (Simoa $2.3M, spatial $1.7M) with 16 Simoa and 11 spatial placements, consumables $21.4M (Simoa $14.5M, spatial $6.9M), and Accelerator lab services $4.3M (Simoa $3.5M, spatial $0.8M); customer mix was ~65% academia, pro‑forma academic revenue down ~16% and pharma revenue down 33%. They reported operating expenses of $56.9M (including ~ $22M acquisition/integration/restructuring/purchase‑accounting costs and a $19M one‑time intangible write‑off), non‑GAAP OPEX $34.7M, delivery of $85M annualized Akoya synergies, and a GAAP accounting reclassification of shipping/handling into gross margin (no change to non‑GAAP expectations).Quanterix Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
68
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 144.87M | 138.65M | 135.44M | 121.14M | 105.52M | 110.56M |
| Gross Profit | 63.93M | 64.72M | 81.12M | 73.00M | 45.36M | 64.77M |
| EBITDA | -89.74M | -90.89M | -44.26M | -36.37M | -67.89M | -51.64M |
| Net Income | -104.19M | -107.15M | -38.53M | -28.35M | -99.57M | -55.55M |
Balance Sheet | ||||||
| Total Assets | 366.67M | 418.77M | 406.53M | 428.57M | 433.58M | 506.51M |
| Cash, Cash Equivalents and Short-Term Investments | 99.27M | 118.23M | 289.12M | 321.32M | 338.74M | 396.46M |
| Total Debt | 35.34M | 37.24M | 37.37M | 41.46M | 44.10M | 21.89M |
| Total Liabilities | 84.53M | 123.04M | 76.50M | 78.61M | 75.65M | 65.56M |
| Stockholders Equity | 282.14M | 295.73M | 330.04M | 349.96M | 357.93M | 440.95M |
Cash Flow | ||||||
| Free Cash Flow | -82.90M | -79.85M | -38.53M | -22.69M | -60.00M | -61.52M |
| Operating Cash Flow | -81.45M | -77.24M | -35.16M | -18.90M | -48.27M | -47.91M |
| Investing Cash Flow | 42.73M | 50.23M | -82.27M | -148.40M | -11.21M | -6.34M |
| Financing Cash Flow | -1.57M | -708.00K | 456.00K | 2.69M | 2.31M | 270.80M |
Quanterix Technical Analysis
Negative
3.50
Price Trends
4.80
Negative
5.89
Negative
5.65
Negative
Market Momentum
-0.40
Negative
36.84
Neutral
42.20
Neutral
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 3.5 is below the 20-day moving average (MA) of 3.61, below the 50-day MA of 4.80, and below the 200-day MA of 5.65, indicating a bearish trend. The MACD of -0.40 indicates Negative momentum. The RSI at 36.84 is Neutral, neither overbought nor oversold. The STOCH value of 42.20 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $358.45M | 34.27 | 10.66% | ― | 23.10% | 22.75% | |
56 Neutral | $260.91M | -4.71 | -25.62% | ― | -5.89% | 53.75% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $67.21M | -0.93 | -55.88% | ― | 2.01% | 85.71% | |
47 Neutral | $129.54M | -2.36 | -35.17% | ― | 6.85% | -90.71% | |
47 Neutral | $119.70M | -1.41 | -47.09% | ― | 15.40% | -25.87% | |
43 Neutral | $164.60M | 33.49 | 137.18% | ― | 39.64% | -25.99% |
* Healthcare Sector Average
QTRX
Quanterix
2.75
-2.04
-42.59%
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MASS
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TLSI
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Quanterix Corporate Events
Business Operations and StrategyFinancial Disclosures
Quanterix Reports Strong Q1 Growth and Alzheimer’s Progress
Positive
May 6, 2026
On May 6, 2026, Quanterix reported first-quarter 2026 revenue of $36.4 million, up 20% year over year, with GAAP gross margin at 42.7%, adjusted gross margin at 50.9%, and an adjusted EBITDA loss of $9.8 million. The company ended the quarter with...
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.