Quanterix (QTRX) Reports Q4 Revenues Beat

Quanterix (NASDAQ: QTRX) reported Q4 revenue for the quarter came in at $26.1 million versus the consensus estimate of $23.44 million.

Fourth Quarter 2020 Financial Highlights

Key financial results for the four quarter of 2020 are shown below:

• Q4 GAAP total revenue, which includes Grant Revenue, was $26.1M versus prior year Q4 of $15.9M;
• Q4 non-GAAP total revenue was $21.6M versus prior year Q4 of $15.9M, an increase of 36%;
• Q4 GAAP product revenue was $15.7M versus prior year Q4 of $11.4M, an increase of 38%;
• Q4 GAAP service and other revenue was $5.5M versus prior year Q4 of $4.3M, an increase of 28%

“Responding to the pandemic crisis as well as advances in therapies to treat Alzheimer’s has accelerated our leadership of precision health and the proteomics revolution,” said Chairman, Chief Executive Officer and President, Quanterix, Kevin Hrusovsky. “There 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.”

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

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