\n\u201cResponding to the pandemic crisis as well as advances in therapies to treat Alzheimer\u2019s has accelerated our leadership of precision health and the proteomics revolution,\u201d said Chairman, Chief Executive Officer and President, Quanterix, Kevin Hrusovsky. \u201cThere is a strong demand for ultra-sensitive protein analytical tools to support disease studies, diagnostics and drug development as the COVID focus shifts from battling the acute virus to the long-hauler impact of the virus on organ and overall human health (CNS, Cardiac, Respiratory, Immunology, etc). We enter 2021 on strong footing as we scale Quanterix to support this unprecedented opportunity.\u201d\n<\/p>\n
Fourth Quarter 2020 Financial Highlights<\/b><\/p>\n
\nKey financial results for the four quarter of 2020 are shown below:\n<\/p>\n
- \n
- \nQ4 GAAP total revenue, which includes Grant Revenue, was $26.1M versus prior year Q4 of $15.9M;\n<\/li>\n
- \nQ4 non-GAAP total revenue was $21.6M versus prior year Q4 of $15.9M, an increase of 36%;\n<\/li>\n
- \nQ4 GAAP product revenue was $15.7M versus prior year Q4 of $11.4M, an increase of 38%;\n<\/li>\n
- \nQ4 GAAP service and other revenue was $5.5M versus prior year Q4 of $4.3M, an increase of 28%\n<\/li>\n<\/ul>\n
Full Year 2020 Financial Highlights<\/b><\/p>\n
\nKey financial results for FY 2020 are shown below:\n<\/p>\n
- \n
- \nFY GAAP total revenue, which includes one-time License Revenue and Grant Revenue, was $86.4M versus prior year FY of $56.7M;\n<\/li>\n
- \nFY non-GAAP total revenue was $68.8M versus prior year FY of $56.7M, an increase of 21%;\n<\/li>\n
- \nFY GAAP product revenue was $44.0M versus prior year FY of $40.5M, an increase of 9%;\n<\/li>\n
- \nFY GAAP service and other revenue was $24.1M versus prior year FY of $16.1M, an increase of 50%\n<\/li>\n<\/ul>\n
\nFor additional information on the non-GAAP financial measures included in this press release, please see \u201cUse of Non-GAAP Financial Measures\u201d and \u201cReconciliation of Non-GAAP Financials\u201d below.\n<\/p>\n
Fourth Quarter and Full Year Business Highlights<\/b><\/p>\n
- \n
- \nAwarded an $18.2M contract with the NIH through its RADx initiative to accelerate the continued development and scale-up of a novel SARS-CoV-2 antigen test.\n<\/li>\n
- \nReceived FDA Emergency Use Authorizations for novel SARS-CoV-2 antigen test (after year-end) and for semi-quantitative antibody test, underscoring our longstanding science-first mentality and deep dedication to the highest standards of quality and scientific rigor across our business.\n<\/li>\n
- \nLeveraging the unparalleled ultra-sensitivity of Simoa, enabled several leading researchers globally, including at the NIH, to begin tackling leading-edge COVID challenges, such as establishing potential for blood based anti-viral endpoints for new drug therapies and understanding the long-term complications of COVID-19.\n<\/li>\n
- \nExpanded our differentiated Neurology menu to include tau phosphorylated at threonine 181 (pTau-181), a highly specific biomarker for the study of Alzheimer\u2019s disease pathology, in cerebral spinal fluid (CSF), serum and plasma as well as launched Neuro Multiplex assays associated with many neurodegenerative diseases. Our biomarker portfolio is now supporting leading Alzheimer\u2019s programs globally and a growing body of research, including work published recently in The Lancet Neurology<\/i>. This work suggests that blood pTau-181 levels could prove critical to predicting Alzheimer\u2019s disease progression and differentiating the disease from other neurodegenerative disorders, marking a critical step toward AD early detection, clinical trial advancements, improved patient triaging and asymptomatic screening.\n<\/li>\n
- \nNovartis\u2019 multiple sclerosis (MS) drug KESIMPTA\u00ae (ofatumumab), which utilized Nf-L as secondary endpoint, was approved by the FDA.\n<\/li>\n
- \nQuanterix\u2019 Simoa technology was highlighted in a record 443 new publications in 2020, bringing total Simoa-specific inclusions to over 1,120. Also, was invited to present at several marquis symposiums showcasing our Precision Health vision and potential to catalyze asymptomatic medicine.\n<\/li>\n
- \nInstrument installed base increased by 34% in 2020 to 535, despite access challenges posed by COVID-19. This includes 93 HD-X placements with over 50% new installations and 84 new SR-X and SP-X placements.\n<\/li>\n
- \nSolidified Simoa\u2019s technological leadership by achieving a 100x sensitivity improvement<\/a> in a pilot of the digital enzyme-linked immunosorbent assay (ELISA) that powers the Company\u2019s HD-X<\/a>\u2122 and SR-X<\/a>\u2122 Ultra-Sensitive Biomarker Detection Systems.\n<\/li>\n
- \nEntered into a non-exclusive royalty-bearing license agreement with Abbott Laboratories, to grant Abbott access to Quanterix\u2019 portfolio of bead-based technology patents for use in in-vitro diagnostic (IVD) applications.\n<\/li>\n
- \nRealized multi-category revenue opportunities with one of the largest multi-national, healthcare payor groups, with execution of multiple population surveillance studies, creating beachhead for our vision for the future of precision medicine, where early and non-invasive disease detection has the potential to transform life and healthcare costs.\n<\/li>\n<\/ul>\n
- \n
- \nSuccessfully raised ~$385 million in gross proceeds across 2020 and early-2021 through our follow-on offerings, further strengthening our balance sheet with growth capital.\n<\/li>\n
- \nWilliam Geist joined Quanterix as Chief Operating Officer to help us sustain and grown our strong momentum across numerous digital biomarker platforms.\n<\/li>\n<\/ul>\n
Conference Call<\/b><\/p>\n
\nIn conjunction with this announcement, Quanterix Corporation will host a conference call on March 2 at 4:30 p.m., EST. Individuals interested in listening to the conference call may do so by dialing (833) 686-9351 for domestic callers, or (612) 979-9890 for international callers. Please reference the following conference ID: 4438067. A live webcast will also be available at: https:\/\/edge.media-server.com\/mmc\/p\/tbpi32nd<\/a>. The webcast will be available on the Company\u2019s website, https:\/\/www.quanterix.com<\/a>, for one year following completion of the call.\n<\/p>\n
Financial Highlights <\/b><\/p>\n
\n
\n \n Quanterix Income Statement<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n in ‘000 USD<\/b><\/p>\n<\/td>\n
\n \n Q4 2020<\/b><\/p>\n<\/td>\n
\n Q4 2019<\/b><\/p>\n<\/td>\n
\n YTD 2020<\/b><\/p>\n<\/td>\n
\n YTD 2019<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nProduct Revenue\n<\/p>\n<\/td>\n
\n \n \n15,732\n<\/p>\n<\/td>\n
\n \n11,431\n<\/p>\n<\/td>\n
\n \n44,017\n<\/p>\n<\/td>\n
\n \n40,491\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nService and Other Revenue\n<\/p>\n<\/td>\n
\n \n \n5,498\n<\/p>\n<\/td>\n
\n \n4,302\n<\/p>\n<\/td>\n
\n \n24,129\n<\/p>\n<\/td>\n
\n \n16,059\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCollaboration and License Revenue\n<\/p>\n<\/td>\n
\n \n \n408\n<\/p>\n<\/td>\n
\n \n184\n<\/p>\n<\/td>\n
\n \n11,809\n<\/p>\n<\/td>\n
\n \n184\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDevelopment Revenue\n<\/p>\n<\/td>\n
\n \n \n4,493\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n
\n \n6,422\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Revenue<\/b><\/p>\n<\/td>\n
\n \n 26,131<\/b><\/p>\n<\/td>\n
\n 15,917<\/b><\/p>\n<\/td>\n
\n 86,377<\/b><\/p>\n<\/td>\n
\n 56,734<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of Product Revenue\n<\/p>\n<\/td>\n
\n \n \n7,961\n<\/p>\n<\/td>\n
\n \n6,684\n<\/p>\n<\/td>\n
\n \n25,950\n<\/p>\n<\/td>\n
\n \n20,900\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of Services Revenue\n<\/p>\n<\/td>\n
\n \n \n3,120\n<\/p>\n<\/td>\n
\n \n2,368\n<\/p>\n<\/td>\n
\n \n11,245\n<\/p>\n<\/td>\n
\n \n8,998\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of License Revenue\n<\/p>\n<\/td>\n
\n \n \n0\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n
\n \n1,000\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Gross Profit<\/b><\/p>\n<\/td>\n
\n \n 15,050<\/b><\/p>\n<\/td>\n
\n 6,865<\/b><\/p>\n<\/td>\n
\n 48,182<\/b><\/p>\n<\/td>\n
\n 26,836<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross Margin %\n<\/p>\n<\/td>\n
\n \n \n57.6%\n<\/p>\n<\/td>\n
\n \n43.1%\n<\/p>\n<\/td>\n
\n \n55.8%\n<\/p>\n<\/td>\n
\n \n47.3%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and Development\n<\/p>\n<\/td>\n
\n \n \n6,217\n<\/p>\n<\/td>\n
\n \n4,398\n<\/p>\n<\/td>\n
\n \n20,174\n<\/p>\n<\/td>\n
\n \n16,190\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling, General and Administrative\n<\/p>\n<\/td>\n
\n \n \n18,766\n<\/p>\n<\/td>\n
\n \n13,953\n<\/p>\n<\/td>\n
\n \n59,592\n<\/p>\n<\/td>\n
\n \n52,246\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Operating Expenses<\/b><\/p>\n<\/td>\n
\n \n 24,983<\/b><\/p>\n<\/td>\n
\n 18,351<\/b><\/p>\n<\/td>\n
\n 79,766<\/b><\/p>\n<\/td>\n
\n 68,436<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Loss From Operations<\/b><\/p>\n<\/td>\n
\n \n -9,933<\/b><\/p>\n<\/td>\n
\n -11,486<\/b><\/p>\n<\/td>\n
\n -31,584<\/b><\/p>\n<\/td>\n
\n -41,600<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest Income (Expense), net\n<\/p>\n<\/td>\n
\n \n \n-166\n<\/p>\n<\/td>\n
\n \n282\n<\/p>\n<\/td>\n
\n \n-273\n<\/p>\n<\/td>\n
\n \n627\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther Income (Expense), net\n<\/p>\n<\/td>\n
\n \n \n155\n<\/p>\n<\/td>\n
\n \n139\n<\/p>\n<\/td>\n
\n \n-49\n<\/p>\n<\/td>\n
\n \n-10\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTax\n<\/p>\n<\/td>\n
\n \n \n123\n<\/p>\n<\/td>\n
\n \n107\n<\/p>\n<\/td>\n
\n \n376\n<\/p>\n<\/td>\n
\n \n187\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net Loss<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n -9,821<\/b><\/p>\n<\/td>\n
\n -10,958<\/b><\/p>\n<\/td>\n
\n -31,530<\/b><\/p>\n<\/td>\n
\n -40,796<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nWeighted average shares outstanding was 31.7 million for Q4 2020 and 28.6 million for YTD 2020\n<\/p>\n
\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n \n Quanterix Balance Sheet<\/b><\/p>\n<\/td>\n
\n <\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n in ‘000 USD<\/b><\/p>\n<\/td>\n
\n At 12\/31\/20<\/b><\/p>\n<\/td>\n
\n At 12\/31\/19<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and Cash Equivalents\n<\/p>\n<\/td>\n
\n \n181,584\n<\/p>\n<\/td>\n
\n \n109,155\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts Receivable\n<\/p>\n<\/td>\n
\n \n17,184\n<\/p>\n<\/td>\n
\n \n10,906\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventory\n<\/p>\n<\/td>\n
\n \n14,856\n<\/p>\n<\/td>\n
\n \n10,463\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid Expenses and Other\n<\/p>\n<\/td>\n
\n \n5,981\n<\/p>\n<\/td>\n
\n \n2,137\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Current Assets<\/b><\/p>\n<\/td>\n
\n 219,605<\/b><\/p>\n<\/td>\n
\n 132,661<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestricted Cash\n<\/p>\n<\/td>\n
\n \n1,000\n<\/p>\n<\/td>\n
\n \n1,026\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and Equipment, Net\n<\/p>\n<\/td>\n
\n \n13,912\n<\/p>\n<\/td>\n
\n \n12,047\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntangible Assets, Net\n<\/p>\n<\/td>\n
\n \n13,716\n<\/p>\n<\/td>\n
\n \n14,307\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGoodwill\n<\/p>\n<\/td>\n
\n \n10,460\n<\/p>\n<\/td>\n
\n \n9,353\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRight-of-Use Assets\n<\/p>\n<\/td>\n
\n \n11,995\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther Non-Current Assets\n<\/p>\n<\/td>\n
\n \n357\n<\/p>\n<\/td>\n
\n \n557\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Assets<\/b><\/p>\n<\/td>\n
\n 271,045<\/b><\/p>\n<\/td>\n
\n 169,951<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \nAccounts Payable & Accrued Expenses\n<\/p>\n<\/td>\n
\n \n22,421\n<\/p>\n<\/td>\n
\n \n14,845\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred Revenue\n<\/p>\n<\/td>\n
\n \n5,421\n<\/p>\n<\/td>\n
\n \n4,697\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent Portion of Long Term Debt\n<\/p>\n<\/td>\n
\n \n7,673\n<\/p>\n<\/td>\n
\n \n75\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLease Liabilities\n<\/p>\n<\/td>\n
\n \n1,234\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther Current Liabilities\n<\/p>\n<\/td>\n
\n \n3,054\n<\/p>\n<\/td>\n
\n \n216\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Current Liabilities<\/b><\/p>\n<\/td>\n
\n 39,803<\/b><\/p>\n<\/td>\n
\n 19,833<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred Revenue, Net of Current Portion\n<\/p>\n<\/td>\n
\n \n577\n<\/p>\n<\/td>\n
\n \n466\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong Term Debt, Net of Current Portion\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n
\n \n7,587\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLease Liabilities, Net of Current Portion\n<\/p>\n<\/td>\n
\n \n21,891\n<\/p>\n<\/td>\n
\n \n0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther Non-Current Liabilities\n<\/p>\n<\/td>\n
\n \n2,649\n<\/p>\n<\/td>\n
\n \n13,407\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Liabilities<\/b><\/p>\n<\/td>\n
\n 64,920<\/b><\/p>\n<\/td>\n
\n 41,293<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Total Stockholders\u2019 Equity<\/b><\/p>\n<\/td>\n
\n 206,125<\/b><\/p>\n<\/td>\n
\n 128,658<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Liabilities and Stockholders\u2019 Equity<\/b><\/p>\n<\/td>\n
\n 271,045<\/b><\/p>\n<\/td>\n
\n 169,951<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Use of Non-GAAP Financial Measures<\/b><\/p>\n
\nTo supplement the Company\u2019s financial statements presented on a GAAP basis, the Company has provided certain non-GAAP financial measures, including non-GAAP revenue. Management uses these non-GAAP measures to evaluate the Company\u2019s operating performance in a manner that allows for meaningful period-to-period comparison and analysis of trends in its business. Management believes that such measures are important in comparing current results with prior period results and are useful to investors and financial analysts in assessing the Company\u2019s operating performance. The non-GAAP financial information presented here should be considered in conjunction with, and not as a substitute for, the financial information presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures set forth below.\n<\/p>\n
\n
\n Reconciliation of non-GAAP Financials<\/b><\/td>\n<\/tr>\n \n (In thousands)<\/b><\/td>\n<\/tr>\n \n \n \n \n 2020<\/b><\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \n Three months ended<\/b><\/td>\n Twelve months ended<\/b><\/td>\n <\/tr>\n \n \n \n December 31<\/b><\/td>\n December 31<\/b><\/td>\n <\/tr>\n \n Total revenue<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n26,131\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n15,917\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n86,377\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n56,734\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n License agreement revenue (Note 1)<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(11,200\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Grant revenue (Note 2)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(4,493\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(6,422\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Non-GAAP revenue<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n21,638\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n15,917\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n68,755\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n56,734\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Gross profit<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n15,050\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n6,865\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n48,182\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n26,836\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n License agreement revenue (Note 1)<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(11,200\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Grant revenue (Note 2)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(4,493\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(6,422\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Acquisition-related purchase accounting charges (Note 3)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n433\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n667\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n2,251\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n1,378\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Cost of license revenue (Note 4)<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n1,000\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Non-GAAP gross profit<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n10,990\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n7,532\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n33,811\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n28,214\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n GAAP gross margin %<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n57.6\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n43.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n55.8\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n47.3\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
<\/tr>\n \n Non-GAAP gross margin %<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n50.8\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n47.3\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n49.2\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n49.7\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n GAAP total operating expenses<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n24,983\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n18,351\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n79,766\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n68,436\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Grant research and development expenses (Note 5)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(2,322\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(3,625\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n Acquisition-related purchase accounting charges (Note 6)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(20\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(20\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(81\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(41\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
<\/tr>\n \n Non-GAAP total operating expenses<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n22,641\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n18,331\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n76,060\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n68,395\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n GAAP loss from operations<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(9,933\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(11,486\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(31,584\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(41,600\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
<\/tr>\n \n Non-GAAP loss from operations<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(11,651\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(10,799\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(42,249\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n(40,181\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Note 1: During the twelve months ended December 31, 2020, we recognized $10.0 million in license revenue in connection with a non-exclusive license agreement with Abbott Laboratories. Also, during the twelve months ended December 31, 2020, we recognized $1.2 million in license revenue in connection with the previous agreements with Abbott Laboratories.<\/td>\n<\/tr>\n \n Note 2: During the three and twelve months ended December 31, 2020, we recognized $4.5 million and $6.4 million, respectively, in revenue in connection with our workplan 1 and workplan 2 awards under the National Institute of Health Rapid Acceleration of Diagnostics Program.<\/td>\n<\/tr>\n \n Note 3: During the three months ended December 31, 2020, we incurred $51 thousand of acquisition-related amortization of inventory valuation and $382 thousand of acquisition-related amortization of intangible assets adjustments in connection with our acquisition of UmanDiagnostics. During the twelve months ended December 31, 2020, we incurred $722 thousand of acquisition-related amortization of inventory valuation and $1,529 thousand of acquisition-related amortization of intangible assets adjustments in connection with our acquisition of UmanDiagnostics. During the three months ended December 31, 2019, we incurred $284 thousand of acquisition-related amortization of inventory valuation and $383 thousand of acquisition-related amortization of intangible assets adjustments in connection with our acquisition of UmanDiagnostics. During the twelve months ended December 31, 2019, we incurred $612 thousand of acquisition-related amortization of inventory valuation and $766 thousand of acquisition-related amortization of intangible assets adjustments in connection with our acquisition of UmanDiagnostics.<\/td>\n<\/tr>\n \n Note 4: During the twelve months ended December 31, 2020, we incurred $1.0 million in license fees in connection with our non-exclusive license agreement with Abbott Laboratories.<\/td>\n<\/tr>\n \n Note 5: During the three and twelve months ended December 31, 2020, we incurred $2.3 million and $3.6 million, respectively, in research and development expenses in connection with our workplan 1 and workplan 2 awards under the National Institute of Health Rapid Acceleration of Diagnostics Program.<\/td>\n<\/tr>\n \n Note 6: During the three and twelve months ended December 31, 2020, we incurred $20 thousand and $81 thousand, respectively, of acquisition-related amortization of intangible assets adjustments in connection with our acquisition of UmanDiagnostics. During three and twelve months ended December 31, 2019, we incurred $20 thousand and $41 thousand, respectively, of acquisition-related amortization of intangible assets adjustments in connection with our acquisition of UmanDiagnostics.<\/td>\n<\/tr>\n<\/table>\n About Quanterix <\/b><\/p>\n
\nQuanterix is a company that\u2019s digitizing biomarker analysis with the goal of advancing the science of precision health. The company\u2019s digital health solution, Simoa, has the potential to change the way in which healthcare is provided today by giving researchers the ability to closely examine the continuum from health to disease. Quanterix\u2019 technology is designed to enable much earlier disease detection, better prognoses and enhanced treatment methods to improve the quality of life and longevity of the population for generations to come. The technology is currently being used for research applications in several therapeutic areas, including oncology, neurology, cardiology, inflammation and infectious disease. The company was established in 2007 and is located in Billerica, Massachusetts. For additional information, please visit https:\/\/www.quanterix.com<\/a>.\n<\/p>\n
Forward-Looking Statements <\/b><\/p>\n
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this news release are based on Quanterix\u2019 expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Factors that may cause Quanterix\u2019 actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Quanterix\u2019 filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” sections contained therein. Except as required by law, Quanterix assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.<\/i><\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210302006101\/en\/<\/a><\/span><\/p>\n
Media
\n<\/b>
PAN Communications
\n
Staci Didner, (407) 734-7325
\n
quanterix@pancomm.com<\/a><\/p>\nInvestor Relations:
\n<\/b>
Stephen Hrusovsky
\n
(774) 278-0496
\n
shrusovsky@quanterix.com<\/a><\/p>\nKEYWORDS:<\/b> Massachusetts United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Mental Health Health Other Science General Health Research Science<\/p>\n
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<\/td>\n<\/tr>\n