Quanterix (QTRX) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 20% year-over-year to $36.4 million, driven by product and service growth, Akoya acquisition, and strategic investments in diagnostics and commercial effectiveness.

• Achieved $85 million in annualized cost synergies from Akoya and Emission acquisitions, supporting a path to cash flow breakeven in the second half of 2026.

• Net loss narrowed to $17.5 million from $20.5 million year-over-year, reflecting higher revenues, cost synergies, and a $19.8 million impairment charge related to a terminated development agreement.

• Strategic focus shifted to accelerating growth in Alzheimer's diagnostics, research tools, and commercial effectiveness, with targeted investments in sales, marketing, and infrastructure.

• Announced partnership with Tempus AI to integrate LucentAD Complete into EHR systems and advanced FDA 510(k) submission for Alzheimer's diagnostics.

Financial highlights

• Q1 2026 total revenue: $36.4 million (+20% YoY); product revenue rose 23% to $25.5 million, service and other revenue increased 18% to $10.4 million.

• GAAP gross margin was 42.7% (down from 48.9% YoY); adjusted gross margin rose to 50.9% from 49.7% YoY.

• Adjusted EBITDA loss improved to $9.8 million from $11.3 million YoY; adjusted loss from operations improved to $16.2 million from $18.8 million.

• Operating expenses increased to $56.9 million, including $19.8 million impairment and one-time severance costs; adjusted operating expenses were $34.7 million.

• Ended Q1 with $102.6 million in cash, equivalents, and securities; adjusted cash usage was $14.7 million, reflecting seasonally higher payments.

Outlook and guidance

• 2026 revenue guidance maintained at $169–$174 million, assuming no end-market improvement.

• GAAP gross margin expected at 41–45%; adjusted gross margin at 49–53%.

• Cash flow breakeven anticipated in the second half of 2026; year-end cash expected at ~$100 million with no debt.

• Q2 revenue expected to be in line or slightly ahead of Q1, with stronger growth in the second half driven by commercial initiatives.