Quanterix (QTRX) Reports Q4 Revenues Above Estimates

Quanterix (NASDAQ: QTRX) reported Q4 revenue for the quarter came in at $10.9 million versus the consensus estimate of $9.28 million.

“This past quarter has been highly productive, capping off a strong year of accelerating growth, achieving all our key milestones, and positioning us very well for 2019,” said Kevin Hrusovsky, Chief Executive Officer, President and Chairman, Quanterix. “Our Simoa technology is at the forefront of the biomarker revolution, which has gained considerable traction as biomarkers are increasingly being recognized for their promise to transform treatment options by accelerating the development of more effective and safer drugs for all disease categories, and monitoring patient response to treatment therapies to ensure their efficacy and safety. Longer term, we see the promise of Simoa biomarker assays being deployed as health screens to see disease very early in the disease cascade when treatments are most effective. We have been impressed with the acceleration of third-party, peer-reviewed publications and the resulting body of evidence showing the promise for Simoa blood based biomarker assays enabling early \'pre-symptomatic\' detection of neurological diseases and cancers.”

Fourth Quarter 2018 Financial Highlights
Key financial results for the fourth quarter are shown below:

• Q4 revenue of $10.9M versus prior year Q4 of $6.6M, an increase of 65%.
• Q4 product revenue was $7.5M versus prior year Q4 of $4.1M, an increase of 83%.
• Q4 Service and Other revenue totaled $3.4M versus prior year Q4 of $2.2M, an increase of 52%.
• Q4 gross margin percent totaled 48.2%, a 450 basis point improvement over the 43.7% in Q4 2017.

For earnings history and earnings-related data on Quanterix (QTRX) click here.

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