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.
Quanterix
· QTRX
May 6th, 2026
Summary
- Earnings Call Date:
- 2026-05-06
- Change Since:
- +14.89%
- Next Earnings Date:
- 2026-08-10
Earnings Call Sentiment
NeutralThe 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.
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).
Diagnostics Partner Momentum
Revenue from diagnostics partners increased to $2.9 million from $1.6 million in Q1 2025, an increase of approximately 81%, reflecting growing volume for single-biomarker tests from enablement partners.
Strong Installed Base and Market Position
Company reports an installed base of over 2,300 instruments and positions Simoa as a leader in ultrasensitive digital immunoassays and spatial as the highest-plex proteomic platform, which management expects to leverage for growth.
Cost Synergies Delivered
Quanterix delivered the $85 million of annualized cost synergies committed from the Akoya acquisition and will cease reporting these after this quarter.
Robust Non-GAAP Gross Margins
Non-GAAP gross profit was $18.5 million with non-GAAP gross margin at 50.9% in Q1; full-year non-GAAP gross margin guide is 49%–53%.
Improving Adjusted EBITDA and Reduced Adjusted Cash Usage
Adjusted EBITDA was a loss of $9.8 million, a sequential improvement of $1.5 million. Adjusted cash usage in the quarter was $14.7 million, and management expects cash usage to decline as annual payments have passed.
Healthy Cash Position and No Debt
Cash, cash equivalents, marketable securities and restricted cash totaled $102.6 million at quarter end and the company expects to end 2026 with roughly $100 million and no debt.
Strategic Commercial and Diagnostics Investments
Management is investing in commercial effectiveness (senior pharma partnerships leader, expanded lead generation, market development leaders, Thermo Fisher distribution integration) and diagnostics (hiring diagnostics leader, upgrading Simoa HD-X for IVD filing targeted in 2027, lab infrastructure, clinical utility studies).
Partnerships and Product Roadmap Focus
Notable partnership with Tempus AI to integrate LucentAD Complete into select EHR systems; product roadmap streamlined to prioritize HD-X and incorporate learnings from Simoa ONE early access.
Operator
Thank you for standing by. Welcome to Quanterix Corporation Q1 2026 Earnings Call. [Operator Instructions] I would now like to turn the conference over to Joshua Young. You may begin.
Joshua Young
Thank you, Preyila, and good afternoon, everybody. With me on today's call are Everett Cunningham, Quanterix' President and CEO; and Vandana Sriram, Quanterix' Chief Financial Officer. Today's call is being recorded, and a replay of the call will be available on the Investors section of our website. During the course of today's presentation, we will make forward-looking statements covered under the U.S. Private Securities Litigation Reform Act. These forward-looking statements are based on management's beliefs and assumptions as of today, May 6, 2026. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that might cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
To supplement our financial statements presented on a GAAP basis, we have provided certain non-GAAP financial measures. These non-GAAP measures are used to evaluate our operating performance in a manner that allows for meaningful period-to-period comparison and analysis of trends in our business and our competitors. We believe that such measures are important in comparing current results with other period results and assessing our operat...
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