Quanterix Q3 2026 revenue falls 13% to $35M
Quanterix set a $142 million-$146 million 2026 revenue outlook and expects approximately $70 million in year-end cash with no debt.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Quanterix Corp (QTRX) reported third-quarter 2026 revenue of $35.0 million, up 6.3% sequentially and down 13% year over year. GAAP net loss was $21.6 million, an improvement of 35.6% year over year. GAAP gross margin was 38.6%, down 90 basis points, while adjusted gross margin was 47.4%, up 150 basis points. Adjusted EBITDA loss was $12.2 million. Cash, cash equivalents, marketable securities and restricted cash totaled $80.7 million at quarter-end.
Quanterix narrowed its 2026 revenue outlook to $142 million-$146 million and continues to expect adjusted gross margin of 48%-50%. It expects to end 2026 with approximately $70 million in cash and no debt. Beginning November 1, 2026, traditional Medicaid members and state employees in Florida can receive coverage for qualifying blood-based biomarker tests, including LucentAD Complete, when medical necessity criteria are met.
Business updates included two regional clinical-lab partnerships and regulatory approvals in China for testing based on HD-X and SR-X instruments and kits for four biomarkers. The PhenoCode 2.0 Molecular Barcoding Kit is in full commercial release; the TIME and high-plex ADC panels are shipping in early 2027.
2 points · 0 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQ3 revenue rose 6.3% sequentially to $35.0 million.
- Moderate pointGAAP net loss improved 35.6% year over year to $21.6 million.
Negative
- Moderate pointQ3 revenue declined 13% year over year to $35.0 million.
Filing Explained
For the third quarter, revenue fell
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Third-quarter revenue: $35.0 million
GAAP net loss: $21.6 million loss
GAAP gross margin: 38.6%
+5 more
8 metrics
Third-quarter revenue
$35.0 million
Up 6.3% sequentially and down 13% year over year
GAAP net loss
$21.6 million loss
Improved 35.6% year over year
GAAP gross margin
38.6%
Down 90 basis points year over year
Adjusted gross margin (non-GAAP)
47.4%
Up 150 basis points year over year
Cash, cash equivalents, marketable securities and restricted cash
$80.7 million
At September 30, 2026
2026 total revenue outlook
$142 million-$146 million
Full-year outlook
2026 adjusted gross margin outlook
48%-50%
Full-year outlook
Expected year-end cash balance
Approximately $70 million
Expected at the end of 2026; Quanterix also expects no debt
Key Terms
Adjusted EBITDA, adjusted gross margin, high-plex, 510(k)
4 terms
Adjusted EBITDA financial
"Adjusted EBITDA (non-GAAP) loss of $12.2 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
adjusted gross margin financial
"adjusted gross margin was 47.4%"
Adjusted gross margin is a measure of how much profit a company makes from its sales after accounting for certain expenses or one-time costs, but before deducting other operating expenses. It helps investors see the company's core profitability more clearly by removing factors that might distort the usual profit picture, similar to a runner measuring their speed without considering obstacles or weather. This metric provides a clearer view of the company's ongoing financial health.
high-plex technical
"the TIME and high-plex ADC panels"
510(k) regulatory
"510(k) Submitted to FDA multi-marker test"
A 510(k) is a U.S. regulatory submission that a medical device maker uses to show a new device is as safe and effective as an already-approved device, allowing the regulator to clear it for sale rather than requiring the longer, more stringent approval process. For investors, a cleared 510(k) usually means lower regulatory risk and a faster path to market, which can speed revenue generation and reduce uncertainty—similar to proving a new appliance works like a trusted existing model.
Earnings Snapshot
Revenue: $35.0 million · Guidance included
Third quarter 2026
Revenue
$35.0 million
Up 6.3% sequentially; down 13% year over year
GAAP net loss
$21.6 million loss
Improved 35.6% year over year
GAAP gross margin
38.6%
Down 90 basis points year over year
Adjusted gross margin (non-GAAP)
47.4%
Up 150 basis points year over year
Guidance
2026 total revenue of $142 million-$146 million; adjusted gross margin (non-GAAP) of 48%-50%; expected year-end cash balance of approximately $70 million and no debt.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was QTRX's Q3 2026 revenue?
Quanterix reported Q3 2026 revenue of $35.0 million, up 6.3% sequentially and down 13% year over year.
What was QTRX's net loss in Q3 2026?
Quanterix reported a $21.6 million GAAP net loss, an improvement of 35.6% from the prior year.
What is QTRX's 2026 revenue outlook?
Quanterix narrowed its 2026 total revenue outlook to $142 million-$146 million. It continues to expect adjusted gross margin of 48%-50% and expects to end 2026 with approximately $70 million in cash and no debt.
Does Florida Medicaid cover QTRX's LucentAD Complete test?
Beginning November 1, 2026, traditional Medicaid members and state employees in Florida can receive coverage for qualifying blood-based biomarker tests, including LucentAD Complete, when medical necessity criteria are met.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________
FORM 8-K
______________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 9, 2026
_________________________________________________
(Exact name of registrant as specified in its charter)
_________________________________________________
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) | (Zip Code) | ||||
(617 ) 301-9400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class: | Trading symbol(s): | Name of each exchange on which registered: | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging Growth Company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On November 9, 2026, Quanterix Corporation (“Quanterix”) issued a press release announcing its financial results for it's third fiscal quarter ended September 30, 2026 (the “Earnings Release”). A copy of the Earnings Release is furnished as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 2.02 of this Form 8-K (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 (the "Securities Act") or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 7.01 Regulation FD Disclosure.
A copy of slides to be presented during Quanterix’s earnings call on November 9, 2026 is furnished as Exhibit 99.2 and is incorporated herein by reference.
The information in Exhibits 99.1 and 99.2 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Earnings Release dated November 9, 2026 | |||||||
| 99.2 | Slides from November 9, 2026 Earnings Call | |||||||
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| QUANTERIX CORPORATION | ||||||||
| By: | /s/ Jason Faessler | |||||||
| Jason Faessler | ||||||||
| Chief Financial Officer | ||||||||
Date: November 9, 2026
Exhibit 99.1
Quanterix Releases Financial Results for the Third Quarter of 2026
Reports $35.0 million in revenue, up 6.3% sequentially, and $80.7 million of cash and marketable securities
Initiatives to accelerate commercial effectiveness position the Company for growth in rest of 2026 and going forward
BILLERICA, Mass. – November 9, 2026 -- Quanterix Corporation (NASDAQ: QTRX), a global leader in precision biomarker science, today announced financial results for the third quarter ended September 30, 2026.
“We delivered higher than expected topline growth in the third quarter, with revenues up 6.3% sequentially, despite continued market softness. This first step in restoring growth reflects sequential improvement across all our businesses. The actions we initiated last quarter to improve commercial performance, including reorganizing our teams and adding experienced leadership and discipline, should accelerate our execution in the fourth quarter and beyond,” said Everett Cunningham, President & CEO of Quanterix.
He added, “We are confident about the benefits and differentiated positioning of our research tools and diagnostics businesses, especially with new commercial leadership focused on sustained growth. Our continued innovation in ultra-sensitive protein-detection in blood and high plex spatial analysis in tissue provides us with market advantages in targeted discovery and translational research. Lastly, we have now established a strong foundation for Quanterix in diagnostics, through strategic investments and partnerships, enabling us to focus on achieving key milestones in Alzheimer’s disease testing, with our single-site Alzheimer’s disease five biomarker blood test.”
Third Quarter Financial Highlights
•Revenue of $35.0 million, an increase of 6.3% compared to the second quarter.
•GAAP gross margin of 38.6% down 90 basis points (bps) compared to the prior year. Adjusted gross margin (non-GAAP) of 47.4% up 150 bps vs. the prior year.
•Net loss of $21.6 million, an improvement of 35.6% compared to the prior year. Adjusted EBITDA (non-GAAP) loss of $12.2 million a decline of 2.4% vs. the prior year.
•The Company ended the third quarter with $80.7 million of cash, cash equivalents, marketable securities, and restricted cash.
Operational and Business Highlights
•Quanterix finished building its senior management team for planned growth, especially in the diagnostics business. As previously announced, Jim Gute was named Chief Commercial Officer in mid-August, and Dr. Yuri Fesko was named the company’s first Chief Medical Officer in September, bringing considerable expertise in clinical and regulatory management, which is already benefiting the Company’s commercial efforts.
•Additional milestones to advance clinical adoption of blood-based Alzheimer’s disease testing were announced, including expanded insurance coverage. Beginning November 1, 2026, traditional Medicaid members and state employees in Florida can receive coverage for qualifying blood-based biomarker tests, including Quanterix’s LucentAD® Complete, when medical necessity criteria are met.
•Quanterix added two new commercial partnerships with key regional full-service clinical reference labs, Sherman Abrams Lab in New York and TruPath in Mississippi. These relationships are underway and generating opportunities for diagnostics revenue, adding to existing partnerships.
•New regulatory approvals advanced access to neurology biomarker testing in China based upon Quanterix’s HD-X and SR-X instruments and testing kits for four biomarkers. Innovita Biological Technology Co., a leading Chinese diagnostics company, is broadening access to blood biomarker testing in China, as part of our strategy to bring our SIMOA®--powered diagnostics capabilities to large markets worldwide by working with strong regional commercial partners.
•Quanterix launched additional assay menu options for its SIMOA® platform, as part of a commitment to expanding research tools on new biomarkers for Alzheimer’s and other neurodegenerative diseases.
•Underscoring Quanterix’s leadership in spatial biology through its Content Innovation Engine, the Company announced three new spatial products at the European Society for Spatial Biology meeting in September. The PhenoCode™ 2.0 Molecular Barcoding Kit is now in full commercial release, enabling researchers to barcode virtually any antibody in applications spanning immuno-oncology, neuroscience and other areas. The TIME panel, providing a broader view of the tumor immune microenvironment, and a high-plex ADC panel that enables co-
measurement of ADC target expression alongside tumor immune contexture within a single tissue section, addressing demand for combination biology readouts, are both shipping in early 2027.
•Quanterix’s Accelerator Lab is now accepting requests for custom ADC panel development, widening access to the strength of its ADC combination biology fully managed service for biopharma and translational teams.
2026 Business Outlook
Quanterix is narrowing its expectations for total revenues to $142-146 million. The Company continues to expect adjusted gross margins (non-GAAP) in a range of 48-50%. Quanterix now expects to end 2026 with a cash balance of approximately $70 million, and no debt.
Conference Call
In conjunction with this announcement, the Company will host a conference call today, November 9, 2026, at 8:30 AM ET. The dial-in number for USA & Canada is Toll-Free (800) 715-9871 or (646) 307-1963 and the conference ID is 3290884.
Interested investors can also listen to the live webcast from the Event Details page in the Investors section of the Quanterix website at https://ir.quanterix.com. An archived webcast replay will be available on the Company’s website for one year.
About Quanterix
Quanterix is a global leader in precision biomarker science, making biology measurable to deliver earlier insights and support breakthroughs in disease research, diagnostics, and drug development. Its SIMOA® technology delivers industry-leading sensitivity, allowing researchers to detect and quantify biomarkers in blood and other fluids at concentrations far below traditional limits. Through the acquisition of Akoya Biosciences, Quanterix Spatial solutions deliver high-plex, quantitative protein analysis in tissue at single-cell resolution. Combined with Accelerator Laboratory services, Quanterix gives researchers the tools and expertise to translate discovery into precision diagnostics. Learn more at www.quanterix.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Statements included in this press release that are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements about Quanterix’s future business outlook, operations, strategy and financial performance, including statements related to our expectations about revenue growth, market advantages in translational research, opportunities for diagnostics revenue, expanded reimbursement for and access to blood biomarker testing, and under the header “2026 Business Outlook.” Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities with respect to Quanterix’s future business, operations, strategy and financial performance: risks related to the impact of changes in U.S. government policies, including impacts of tariffs and reductions in federal research funding; risks associated with the anticipated timing for launch of, and features of, Quanterix’s next-generation instruments to upgrade its existing platforms; risks related to Quanterix’s ability to improve existing diagnostics and develop new diagnostic tests and tools; risks related to Quanterix’s ability to successfully penetrate the diagnostics market; risks related to Quanterix’s ability to retain and expand its customer base and achieve sufficient market acceptance of its products; risks related to the ability of Quanterix’s contract manufacturers and suppliers to reliably and consistently manufacture and supply our instruments; risks that Quanterix may fail to realize the anticipated benefits from its recent acquisitions of Emission, Inc. and Akoya Biosciences Inc.; risks that Quanterix’s estimates regarding expenses, future revenues, capital requirements, and needs for additional financing could be incorrect; risks related to Quanterix’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; and risks related to defects or other quality issues in Quanterix’s products that could lead to unforeseen costs, product recalls, adverse regulatory actions, negative publicity and litigation. Additional factors that could cause results to differ materially from those described above can be found in the periodic reports filed by Quanterix with the SEC, including the “Risk Factors” sections contained therein, which are available on the SEC’s website at www.sec.gov.
All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if Quanterix’s underlying assumptions prove to be incorrect, actual results may differ materially from what Quanterix anticipates. Quanterix cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and are based on information available at that time. Quanterix does not assume any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws.
FINANCIAL HIGHLIGHTS
QUANTERIX CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share data, unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Product revenue | $ | 25,193 | $ | 26,151 | $ | 74,149 | $ | 63,723 | |||||||||||||||
| Service and other revenue | 9,359 | 14,036 | 28,752 | 29,971 | |||||||||||||||||||
| Collaboration and license revenue | 422 | 46 | 1,394 | 1,348 | |||||||||||||||||||
| Total revenues | 34,974 | 40,233 | 104,295 | 95,042 | |||||||||||||||||||
| Costs of goods sold and services: | |||||||||||||||||||||||
| Cost of product revenue | 15,447 | 16,684 | 45,208 | 38,619 | |||||||||||||||||||
| Cost of service and other revenue | 6,027 | 7,648 | 17,347 | 15,683 | |||||||||||||||||||
| Total costs of goods sold and services | 21,474 | 24,332 | 62,555 | 54,302 | |||||||||||||||||||
| Gross profit | 13,500 | 15,901 | 41,740 | 40,740 | |||||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Research and development | 7,372 | 8,009 | 22,516 | 27,126 | |||||||||||||||||||
| Selling, general and administrative | 28,453 | 38,043 | 85,575 | 99,561 | |||||||||||||||||||
| Impairment and restructuring costs | 171 | 7,174 | 46,940 | 14,844 | |||||||||||||||||||
| Total operating expenses | 35,996 | 53,226 | 155,031 | 141,531 | |||||||||||||||||||
| Loss from operations | (22,496) | (37,325) | (113,291) | (100,791) | |||||||||||||||||||
| Other income (expense), net: | |||||||||||||||||||||||
| Interest income | 663 | 1,448 | 2,316 | 7,408 | |||||||||||||||||||
| Change in fair value of contingent liabilities | 595 | 58 | 2,017 | 3,952 | |||||||||||||||||||
| Other income (expense), net | (65) | (178) | 21,117 | (68) | |||||||||||||||||||
| Loss before income taxes | (21,303) | (35,997) | (87,841) | (89,499) | |||||||||||||||||||
| Income tax benefit (expense) | (288) | 2,480 | (227) | 5,466 | |||||||||||||||||||
| Net loss | $ | (21,591) | $ | (33,517) | $ | (88,068) | $ | (84,033) | |||||||||||||||
| Net loss per common share, basic and diluted | $ | (0.46) | $ | (0.73) | $ | (1.87) | $ | (2.04) | |||||||||||||||
| Weighted-average common shares outstanding, basic and diluted | 47,388 | 46,060 | 47,173 | 41,243 | |||||||||||||||||||
QUANTERIX CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except per share data, unaudited)
| September 30, 2026 | December 31, 2025 | ||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 35,864 | $ | 29,839 | |||||||
| Marketable securities | 41,495 | 88,393 | |||||||||
| Accounts receivable, net of allowance for expected credit losses | 27,197 | 29,972 | |||||||||
| Inventory | 44,821 | 54,763 | |||||||||
| Prepaid expenses and other current assets | 8,738 | 9,290 | |||||||||
| Total current assets | 158,115 | 212,257 | |||||||||
| Restricted cash | 3,352 | 3,341 | |||||||||
| Property and equipment, net | 18,290 | 23,672 | |||||||||
| Intangible assets, net | 102,408 | 131,787 | |||||||||
| Goodwill | — | 26,376 | |||||||||
| Operating lease right-of-use assets | 14,210 | 16,664 | |||||||||
| Other non-current assets | 4,062 | 4,669 | |||||||||
| Total assets | $ | 300,437 | $ | 418,766 | |||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 12,648 | $ | 13,568 | |||||||
| Accrued compensation and benefits | 8,715 | 14,979 | |||||||||
| Accrued expenses and other current liabilities | 7,859 | 17,571 | |||||||||
| Deferred revenue | 14,491 | 20,728 | |||||||||
| Operating lease liabilities | 7,417 | 7,916 | |||||||||
| Total current liabilities | 51,130 | 74,762 | |||||||||
| Deferred revenue, net of current portion | 2,570 | 5,830 | |||||||||
| Operating lease liabilities, net of current portion | 23,945 | 29,323 | |||||||||
| Non-current portion of contingent liabilities | 2,754 | 5,024 | |||||||||
| Other non-current liabilities | 688 | 8,097 | |||||||||
| Total liabilities | 81,087 | 123,036 | |||||||||
| Total stockholders’ equity | 219,350 | 295,730 | |||||||||
| Total liabilities and stockholders’ equity | $ | 300,437 | $ | 418,766 | |||||||
QUANTERIX CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in thousands, unaudited)
| Nine Months Ended September 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net loss | $ | (88,068) | $ | (84,033) | |||||||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
| Depreciation and amortization expense | 18,169 | 9,618 | |||||||||
| Credit losses on accounts receivable | 478 | 284 | |||||||||
| Accretion of marketable securities | (333) | (1,851) | |||||||||
| Operating lease right-of-use asset amortization | 2,438 | 2,058 | |||||||||
| Stock-based compensation expense | 12,525 | 16,303 | |||||||||
| Impairment | 46,769 | 7,269 | |||||||||
| Change in fair value of contingent liabilities | (2,017) | (3,952) | |||||||||
| Recognition of off-market liability | (13,975) | (5,678) | |||||||||
| Other operating activity | (441) | (76) | |||||||||
| Changes in assets and liabilities: | |||||||||||
| Accounts receivable | 1,999 | 7,901 | |||||||||
| Inventory | 9,690 | 4,204 | |||||||||
| Prepaid expenses and other current assets | 207 | 2,198 | |||||||||
| Accounts payable | (3,365) | (3,537) | |||||||||
| Accrued compensation and benefits, accrued expenses, and other current liabilities | (8,585) | (5,847) | |||||||||
| Deferred revenue | (9,497) | (526) | |||||||||
| Net change in other operating assets and liabilities | (5,422) | (5,127) | |||||||||
| Net cash used in operating activities | (39,428) | (60,792) | |||||||||
| Cash flows from investing activities: | |||||||||||
| Purchases of marketable securities | (16,669) | (45,658) | |||||||||
| Proceeds from sales and maturities of marketable securities | 63,755 | 183,389 | |||||||||
| Purchases of property and equipment | (258) | (2,710) | |||||||||
| Acquisitions, net of cash acquired | — | (93,229) | |||||||||
| Net cash provided by investing activities | 46,828 | 41,792 | |||||||||
| Cash flows from financing activities: | |||||||||||
| Deferred acquisition payments | (1,439) | — | |||||||||
| Principal payments on financing leases | (260) | (106) | |||||||||
| Proceeds from common stock issued under stock plans | 525 | 930 | |||||||||
| Payments for employee taxes withheld on stock-based compensation awards | (71) | (1,010) | |||||||||
| Net cash used in financing activities | (1,245) | (186) | |||||||||
| Net increase in cash, cash equivalents, and restricted cash | 6,155 | (19,186) | |||||||||
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (119) | 1,501 | |||||||||
| Cash, cash equivalents, and restricted cash at beginning of period | 33,180 | 59,319 | |||||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 39,216 | $ | 41,634 | |||||||
Use of Non-GAAP Financial Measures
To supplement our financial statements presented on a U.S. GAAP basis, we present the following non-GAAP financial measures:
•Adjusted EBITDA and adjusted EBITDA margin: We define adjusted EBITDA as net income (loss) adjusted to exclude interest income, income tax (expense) benefit, depreciation and amortization expense, stock-based compensation expense, acquisition and integration related costs, impairments, and certain other items which include other charges or benefits resulting from transactions or events that are unusual or infrequent, significant in size, and that we do not believe are indicative of ongoing or future business operations. These items are discussed in more detail below the tables reconciling the GAAP to non-GAAP measures. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by total revenues.
•Adjusted gross profit, adjusted gross margin, adjusted total operating expenses, and adjusted loss from operations: We calculate these non-GAAP financial measures by excluding amortization of certain acquired intangible assets, acquisition and integration related costs, impairments, and certain other items which include other charges or benefits resulting from transactions or events that are unusual or infrequent, significant in size, and that we do not believe are indicative of ongoing or future business operations. Adjusted gross margin is calculated as adjusted gross profit divided by total revenues.
During the first quarter of 2026, we changed our accounting policy for classifying shipping and handling costs for product sales and they are now recorded in cost of product revenue. Historically, these shipping and handling costs were recorded in selling, general and administrative expenses, and we calculated our non-GAAP financial measures by including these shipping and handling costs within cost of product revenue. We applied this change in accounting policy retrospectively to all periods presented, and no longer reclassify shipping and handling costs in our non-GAAP financial measures.
We believe that presentation of these non-GAAP financial measures provides supplemental information useful to investors in understanding our underlying operating results and trends. We use these non-GAAP financial measures 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 presentation of these non-GAAP financial measures provides useful information to investors in assessing our operating performance within our industry and allows comparability with the presentation of other companies in our industry.
The non-GAAP financial measures presented here should be considered in conjunction with, and not as a substitute for, the financial information presented in accordance with U.S. GAAP. For example, adjusted EBITDA excludes a number of expense items that are included in net loss. As a result, positive adjusted EBITDA or positive adjusted cash usage may be achieved even where we record a significant net loss in accordance with U.S. GAAP.
Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures set forth in the tables captioned “Reconciliations of GAAP to Non-GAAP Financial Measures” in the section below.
Additionally, we make certain forward-looking statements about our future financial performance that include non-GAAP financial measures, which are difficult to predict for future periods because the nature of the adjustments pertains to events that have not yet occurred. We do not forecast many of the excluded items for internal use and therefore information reconciling forward-looking non-GAAP financial measures to U.S. GAAP financial measures is not available without unreasonable effort and is not provided. The occurrence, timing, and amount of any of the items excluded from U.S. GAAP to calculate non-GAAP financial measures could significantly impact our U.S. GAAP results.
QUANTERIX CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
Reconciliation of Net Loss to Adjusted EBITDA (non-GAAP) and Adjusted EBITDA Margin (non-GAAP)
(amounts in thousands except percentages, unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net loss | $ | (21,591) | $ | (33,517) | $ | (88,068) | $ | (84,033) | |||||||||||||||
| Interest income | (663) | (1,448) | (2,316) | (7,408) | |||||||||||||||||||
| Income tax benefit (expense) | 288 | (2,480) | 227 | (5,466) | |||||||||||||||||||
| Depreciation and amortization | 6,432 | 5,431 | 18,169 | 9,618 | |||||||||||||||||||
| Stock-based compensation expense (1) | 3,784 | 5,469 | 12,173 | 16,303 | |||||||||||||||||||
| Acquisition and integration related costs (2) | — | 7,315 | 2,004 | 15,032 | |||||||||||||||||||
| Earnout recorded as compensation expense (3) | — | 229 | — | 8,129 | |||||||||||||||||||
| Changes in contingent liabilities (4) | (595) | (58) | (2,017) | (3,952) | |||||||||||||||||||
| Impairment and restructuring costs (5) | 171 | 7,174 | 49,442 | 14,844 | |||||||||||||||||||
| Income from contract termination (6) | — | — | (21,596) | — | |||||||||||||||||||
| Adjusted EBITDA (non-GAAP) | $ | (12,173) | $ | (11,885) | $ | (31,982) | $ | (36,933) | |||||||||||||||
| Total revenues | $ | 34,974 | $ | 40,233 | $ | 104,295 | $ | 95,042 | |||||||||||||||
| Adjusted EBITDA margin (non-GAAP) (adjusted EBITDA as a % of revenue) | (34.8) | % | (29.5) | % | (30.7) | % | (38.9) | % | |||||||||||||||
(1)Stock-based compensation expense for certain individuals is included in the caption 'Impairment and employee separation costs'.
(2)Represents acquisition and integration costs directly related to the Company's business combinations. Acquisition costs include professional and consulting fees supporting due diligence, legal, and accounting activities to execute a transaction. Integration costs include third party and internal direct costs to integrate acquired companies, employees, and their customers.
(3)Consists of the earnout recognized as compensation expense related to the Emission acquisition.
(4)Consists of fair value adjustments for contingent liabilities from acquisitions.
(5)Impairment charges for goodwill and an intangible asset related to the termination of a diagnostics development agreement assumed in the acquisition of Akoya, as well as certain one-time severance and related costs.
(6)One-time income related to the impact of terminating a diagnostics development agreement assumed in the acquisition of Akoya.
Reconciliation of Gross Profit, Gross Margin, Total Operating Expenses and Loss from Operations to Non-GAAP Financial Measures
(amounts in thousands except percentages, unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Gross profit | $ | 13,500 | $ | 15,901 | $ | 41,740 | $ | 40,740 | |||||||||||||||
| Purchase accounting impact on inventory and property and equipment (1) | 205 | 35 | 607 | 35 | |||||||||||||||||||
| Amortization of acquired intangible assets (2) | 2,857 | 2,532 | 8,593 | 2,993 | |||||||||||||||||||
| Adjusted gross profit (non-GAAP) | $ | 16,562 | $ | 18,468 | $ | 50,940 | $ | 43,768 | |||||||||||||||
| Total revenues | $ | 34,974 | $ | 40,233 | $ | 104,295 | $ | 95,042 | |||||||||||||||
| Gross margin (gross profit as % of total revenues) | 38.6% | 39.5% | 40.0% | 42.9% | |||||||||||||||||||
| Adjusted gross margin (non-GAAP) (adjusted gross profit as % of total revenues) | 47.4% | 45.9% | 48.8% | 46.1% | |||||||||||||||||||
| Total operating expenses | $ | 35,996 | $ | 53,226 | $ | 155,031 | $ | 141,531 | |||||||||||||||
| Purchase accounting impact on property and equipment (1) | (326) | (212) | (1,518) | (212) | |||||||||||||||||||
| Amortization of acquired intangible assets (2) | (78) | (73) | (206) | (73) | |||||||||||||||||||
| Acquisition and integration related costs (3) | — | (7,315) | (2,004) | (15,032) | |||||||||||||||||||
| Earnout recorded as compensation expense (4) | — | (229) | — | (8,129) | |||||||||||||||||||
| Impairment and restructuring costs (5) | (171) | (7,174) | (49,442) | (14,844) | |||||||||||||||||||
| Adjusted total operating expenses (non-GAAP) | $ | 35,421 | $ | 38,223 | $ | 101,861 | $ | 103,241 | |||||||||||||||
| Loss from operations | $ | (22,496) | $ | (37,325) | $ | (113,291) | $ | (100,791) | |||||||||||||||
| Purchase accounting impact on inventory and property and equipment (1) | 531 | 247 | 2,125 | 247 | |||||||||||||||||||
| Amortization of acquired intangible assets (2) | 2,935 | 2,605 | 8,799 | 3,066 | |||||||||||||||||||
| Acquisition and integration related costs (3) | — | 7,315 | 2,004 | 15,032 | |||||||||||||||||||
| Earnout recorded as compensation expense (4) | — | 229 | — | 8,129 | |||||||||||||||||||
| Impairment and restructuring costs (5) | 171 | 7,174 | 49,442 | 14,844 | |||||||||||||||||||
| Adjusted loss from operations (non-GAAP) | $ | (18,859) | $ | (19,755) | $ | (50,921) | $ | (59,473) | |||||||||||||||
(1)Represents amortization of the purchase price fair value increase of acquired inventory and property and equipment.
(2)Consists only of the amortization of intangible assets acquired in 2025.
(3)Represents acquisition and integration costs directly related to the Company's business combinations. Acquisition costs include professional and consulting fees supporting due diligence, legal, and accounting activities to execute a transaction. Integration costs include third party and internal direct costs to integrate acquired companies, employees, and their customers.
(4)Consists of the earnout recognized as compensation expense related to the Emission acquisition.
(5)Impairment charges for goodwill and an intangible asset related to the termination of a diagnostics development agreement assumed in the acquisition of Akoya, as well as certain one-time severance and related costs.
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Q3 2026 Earnings Presentation Quanterix Corporation: (NASDAQ: QTRX) November 9, 2026 Everett Cunningham, Chief Executive Officer Jason Faessler, Chief Financial Officer
Legal Information CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Statements included in this presentation that are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements about Quanterix’s future business outlook, operations, strategy and financial performance, including statements related to our expectations about revenue growth, market advantages in translational research, opportunities for diagnostics revenue, expanded reimbursement for and access to blood biomarker testing, and on the slide titled “Updating 2026 Guidance.” Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities with respect to Quanterix’s future business, operations, strategy and financial performance: risks related to the impact of changes in U.S. government policies, including impacts of tariffs and reductions in federal research funding; risks associated with the anticipated timing for launch of, and features of, Quanterix’s next-generation instruments to upgrade its existing platforms; risks related to Quanterix’s ability to improve existing diagnostics and develop new diagnostic tests and tools; risks related to Quanterix’s ability to successfully penetrate the diagnostics market; risks related to Quanterix’s ability to retain and expand its customer base and achieve sufficient market acceptance of its products; risks related to the ability of Quanterix’s contract manufacturers and suppliers to reliably and consistently manufacture and supply our instruments; risks that Quanterix may fail to realize the anticipated benefits from its recent acquisitions of Emission, Inc. and Akoya Biosciences, Inc.; risks that Quanterix’s estimates regarding expenses, future revenues, capital requirements, and needs for additional financing could be incorrect; risks related to Quanterix’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; and risks related to defects or other quality issues in Quanterix’s products that could lead to unforeseen costs, product recalls, adverse regulatory actions, negative publicity and litigation. Additional factors that could cause results to differ materially from those described above can be found in the periodic reports filed by Quanterix with the SEC, including the “Risk Factors” sections contained therein, which are available on the SEC’s website at www.sec.gov. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if Quanterix’s underlying assumptions prove to be incorrect, actual results may differ materially from what Quanterix anticipates. Quanterix cautions the audience not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and are based on information available at that time. Quanterix does not assume any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. USE OF NON-GAAP FINANCIAL MEASURES To supplement Quanterix's preliminary financial information presented on a U.S. GAAP basis, Quanterix has provided certain non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit, adjusted gross margin, adjusted total operating expenses, and adjusted loss from operations. Management uses these non-GAAP financial measures to evaluate the Company's operating performance in a manner that allows for meaningful period-to-period comparison and analysis of trends in our business and our competitors. Management believes that presentation of these non-GAAP financial measures provides useful information to investors in assessing our operating performance within our industry and in order to allow comparability to the presentation of other companies in our industry. The non-GAAP financial measures presented herein should be considered in conjunction with, and not as a substitute for, the financial information presented in accordance with U.S. GAAP. For example, adjusted EBITDA excludes a number of expense items that are included in net loss. As a result, positive adjusted EBITDA or may be achieved even where we record a significant net loss in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures set forth herein. The Company makes certain forward-looking statements about Quanterix's future financial performance that include non-GAAP financial measures, which are difficult to predict for future periods because the nature of the adjustments pertains to events that have not yet occurred. Quanterix does not forecast many of the excluded items for internal use and therefore information reconciling forward-looking non-GAAP financial measures to U.S. GAAP financial measures is not available without unreasonable effort and is not provided. The occurrence, timing, and amount of any of the items excluded from U.S. GAAP to calculate non-GAAP financial measures could significantly impact our U.S. GAAP results. Please refer to our third quarter 2026 earnings release for additional discussion of non-GAAP financial measures. Unless otherwise specified, all information contained herein is provided as of September 30, 2026. 2
-24% -27% -20% -23% -23% -9% -1% -30% -25% -20% -15% -10% -5% 0% 25 30 35 40 45 50 Q125 A Q225 A Q325 A Q425 A Q126 A Q226 A Q326 A Q426 G Proforma Revenue YoY Growth • $35.0M in Q3 revenues, ahead of expectations, 6.3% higher than Q2 • Strong Q2 comparables in spatial consumables and the Americas • Growing Accelerator Lab bookings over two consecutive quarters • Lucent AD test volume doubled as partnerships ramp Initial Signs of Restoring Growth and Sustaining Catalysts 3 Initial Signs of Restoring Growth • Leadership team formed and poised to drive growth • Diagnostics team established with new partnerships and coverage • Innovations launched in Spatial and SIMOA Catalysts Driving Transformation Slowing the Decline A = Actual; G = Guidance;
Organizational Priorities Laser focus on execution Commercial organization leadership and product- based approach focused on growth in core research tools business Strategic Roadmap Strengthening position in ultra-sensitive protein detection along with IVD readiness for expanded distribution opportunities Scale AD Diagnostics Dedicated Dx team to scale for growth: expand partnerships and build network and clinical credibility Improve commercial execution Solidify diagnostics position Accelerate revenue growth 4
HD-X RUO 5 SIMOA Reinforcing our IVD strategy and strengthening our position in ultra-sensitive protein detection SP-XSR-X Research & TranslationalPlatform HD-X IVD Menu Clinical & Diagnostics Neurological biomarker themes: Tau, Synuclein & TDP-43 Pathologies and Neuroinflammation Recent launches: • NPTX2 • APOE Ratio • IL-18 Q4’26 Plan: • MTBR (CSF) • P-Tau212 H1 2027 Plan: • P-Tau217 (brain derived) • MTBR (plasma) • Alpha synuclein • TDP-43 Planned submission in 2027
6 Spatial Continue to improve features and usability with expanded menu launches Platform Menu PhenoImager HTPhenoCycler Fusion Discovery, Research & Translational Oncology biomarker themes: Extend coverage of Hallmarks of Cancer Additional panels to complement existing IO60 and metabolic products Recent launches: • ADC panel • TiME panel 2027 Plan: • Stromal, vasculature and invasion • Genome integrity and cell cycle
7 Spatial Oncology Menu Led by Hallmarks of Cancer Spatial Consumable revenue near record level in Q3, with further oncology opportunities IO60 Panel 60 plex foundational panel Metabolism Panel Exploring energy pathway regulation TiME Panel Critical IO markers and deeper phenotyping ADC Panel Antibody–drug conjugate (ADC) target landscape Planned Menu Expansion Extend coverage of Hallmarks of Cancer Sustaining proliferative signaling Evading growth suppressors Avoiding immune destruction Enabling replicative immortality Tumor- promoting inflammation Activating invasion and metastasis Inducing or accessing vasculature Genome instability and mutation Resisting cell death Deregulating cellular metabolism
Best-in-class Multi-marker Test Building Infrastructure 100% patient readouts vs 80% for competitors 10% Intermediate zone vs 30% for competitors HD-X IVD Instrument IVD submission planned in 2027 Driving Adoption $897 pricing received from CMS for LucentAD® Complete Test Coverage Florida Medicaid 11/1; clinical studies awaiting publication 510(k) Submitted to FDA multi-marker test – active FDA dialogue in AD Diagnostics 8 DxTeam A fully dedicated Dx team now in place 5-markers More than any other test Partnerships Added multiple commercial partners in US AD Diagnostics Leveraging Dx investment to build infrastructure, team, and network supporting growing LucentAD adoption
9 AD Diagnostics: Continuing Commercial Adoption Demonstrating progressive expansion in serving the clinical market COMMERCIAL PARTNERS Notable additions in 2026 (Received China FDA) (Received class-1 registration in Korea MFDS for HD-X) Growing Network of Labs REIMBURSEMENT Growing Coverage Momentum Developments in 2026 Coverage for qualifying blood- based biomarker testing, including Quanterix’s LucentAD® Complete On approved Medicaid fee schedule at $484.00 covering 4 million Florida residents and state employees 18 states, including Florida, have enacted biomarker testing coverage requirements
Q3’26 Financial Update
Q3’26 Financial Performance (in $M) $35M As Reported Revenue 6% QoQ Revenue Growth (13%) YoY Revenue Decline $81M Cash Balance $40.2 $35.0 Q3'25 Q3'26 As Reported Revenue Proforma Revenue (13%) $38.5 $35.0 Q3'25 Q3'26 (9%) Proforma Revenue Adjustments • $0.6M addition of Akoya pre- acquisition revenue in Q325 • ($2.4M) reduction in Q325 for terminated diagnostics development program 11
Q3’26 Revenue Performance AMER up high teens % on commercial execution improvement EMEA down, reflecting seasonality APAC roughly flat for QoQ Accelerator bookings up mid-teens % while revenue was flat sequentially SIMOA up LSD on instrument strength Spatial increased due to near record level of consumables Pharma-CRO slightly down sequentially, driven by EMEA softness Aca/Gov up mid-teens % in Americas on consumable pull through Products & Svcs Geography End Markets Proforma revenue QoQ Comparisons LSD – low single digit 12
* Updated to reflect a change in accounting policy related to shipping and handling costs. Shipping and handling costs for product sales are now recorded in cost of product revenue in our GAAP financials. Q3’26 Financial Results vs Q3’25 (in $M, except percentages) 13 Q3 GAAP Q3 Non-GAAP YTD GAAP YTD Non-GAAP 2026 2025* 2026 2025 Var % 2026 2025* 2026 2025 Var % Revenue 35.0 40.2 35.0 40.2 -13% 104.3 95.0 104.3 95.0 10% Gross Margin $ 13.5 15.9 16.6 18.5 -10% 41.7 40.7 50.9 43.8 16% Gross Margin % 38.6% 39.5% 47.4% 45.9% 150 bps 40.0% 42.9% 48.8% 46.1% 270 bps Operating Expense 36.0 53.2 35.4 38.2 7% 155.0 141.5 101.9 103.2 1% Operating Loss (22.5) (37.3) (18.9) (19.8) 5% (113.3) (100.8) (50.9) (59.5) 14% Net Loss / Adj’d EBITDA (non-GAAP) (21.6) (33.5) (12.2) (11.9) -2% (88.1) (84.0) (32.0) (36.9) 13% Cash Usage (16.2) (125.7) (40.9) (153.6)
Narrowing Full Year Revenue Outlook: $142M to $146M Re-Affirming Adjusted Gross Margin (non-GAAP) Forecast: 48% to 50% Updated 2026 year-end cash balance of $70M Updating 2026 Guidance 14
Summary Meaningful progress in Q3, first step in return to growth journey Strengthened leadership, building momentum Reorganized sales team to sharpen accountability Confident in strength and positioning of Research Tools and Diagnostics businesses Focused on achieving key milestones ahead, including FDA clearance and publication of clinical studies 15
Appendix
Quanterix's Leadership Positioning in Proteomics Differentiated strength in ultra-sensitive blood biomarkers and high-plex spatial tissue analysis across the discovery-to-diagnostics continuum DiagnosticsTranslationalDiscovery • Milli to Femto molar sensitivity • 100+ plex • Pico to Atto molar sensitivity • <10 plex • Reproducibility • Pico to Atto molar sensitivity • <5 plex • Reproducibility Leadership in low-plex ultra-sensitive early detection • High Plex • High resolution • High Plex • High Throughput • Efficient workflow • High Throughput Leadership in high throughput discovery & translation Proteomics 17
Spatial SIMOA Number of Drug Trial Projects (Simoa Only) PUBLICATIONS BIOMARKERS INSTRUMENTS LAB SERVICES CumulativeCumulative Projects & Revenue ($M) Placements # of units placed, cumulative Scientific Validation Driving Adoption 18 876 972 1035 1099 1,130 934 1183 1330 1439 1,480 2022 , 2023 , , 2024 , , 2025 2026 YTD 1,810 2,155 2,365 2,538 2,610 23.6 27.8 38.0 19.9 8.7 7.3 16.7 8.6 168 205 283 304 2022 2023 15.8 2024 2025 1.5 2026 YTD 30.9 44.5 53.8 28.6 10.2 538 559 568 579 591 104 111 134 189 189 2022 2023 2024 2025 2026 YTD 642 670 702 768 780 772 2,141 2022 1,160 2,781 2023 1,733 3,278 2024 2,309 3,948 2025 2,742 4,368 2026 YTD 2,913 3,941 5011 6,257 7,110
(1) Stock-based compensation expense for certain individuals is included in the caption 'Employee separation costs’. (2) Represents acquisition and integration costs directly related to the Company's business combinations. Acquisition costs include professional and consulting fees supporting due diligence, legal, and accounting activities to execute a transaction. Integration costs include third party and internal direct costs to integrate acquired companies, employees, and their customers. (3) Consists of the earnout recognized as compensation expense related to the Emission acquisition. (4) Consists of fair value adjustments for contingent liabilities from acquisitions. (5) Certain one-time severance and related costs. Reconciliation of Adjusted EBITDA (non-GAAP) (in thousands, unaudited) 19 Three Months Ended September 30, 2026 2025 Net loss $ (21,591) $ (33,517) Interest income (663) (1,448) Income tax benefit (expense) 288 (2,480) Depreciation and amortization 6,432 5,431 Stock-based compensation expense (1) 3,784 5,469 Acquisition and integration related costs (2) — 7,315 Earnout recorded as compensation expense (3) — 229 Changes in contingent liabilities (4) (595) (58) Restructuring costs (5) 171 7,174 Adjusted EBITDA (non-GAAP) $ (12,173) $ (11,885) Total revenues $ 34,974 $ 40,233 Adjusted EBITDA margin (non-GAAP, adjusted EBITDA as a % of revenue) (34.8)% (29.5)%
(1) Represents amortization of the purchase price fair value increase of acquired inventory and property and equipment. (2) Consists only of the amortization of intangible assets acquired in 2025. (3) Represents acquisition and integration costs directly related to the Company's business combinations. Acquisition costs include professional and consulting fees supporting due diligence, legal, and accounting activities to execute a transaction. Integration costs include third party and internal direct costs to integrate acquired companies, employees, and their customers. (4) Consists of the earnout recognized as compensation expense related to the Emission acquisition. (5) Certain one-time severance and related costs. * In Q1 2026, Quanterix changed its accounting policy for classifying shipping and handling costs for product sales to record them within cost of product sales. Historically, these costs were recorded in selling, general, and administrative expenses in the GAAP financials. This reclassification is reflected in the 2025 GAAP gross profit and total operating expenses but does not impact the adjusted non-GAAP measures. Reconciliations of Adjusted Gross Profit, Gross Margin, Operating Expenses, and Loss (non-GAAP) (in thousands, except percentages, unaudited) 20 Three Months Ended September 30, 2026 2025* Gross profit $ 13,500 $ 15,901 Purchase accounting impact on inventory and property and equipment (1) 205 35 Amortization of acquired intangible assets (2) 2,857 2,53 2 Adjusted gross profit (non-GAAP) 16,562 18,468 Total revenues $ 34,974 $ 40,233 Gross margin (gross profit as % of total revenues) 38.6 % 39.5 % Adjusted gross margin (non-GAAP, adjusted gross profit as % of total revenues) 47.4 % 45.9 % Total operating expenses $ 35,996 $ 53,226 Purchase accounting impact on property and equipment (1) (326) (21 2) Amortization of acquired intangible assets (2) (78) (73 ) Acquisition and integration related costs (3) — (7,315) Earnout recorded as compensation expense (4) — (229) Restructuring costs (5) (171) (7,174) Adjusted total operating expenses (non-GAAP) $ 35,421 $ 38,223 Loss from operations $ (22,496) $ (37,325) Purchase accounting impact on inventory and property and equipment (1) 531 24 7 Amortization of acquired intangible assets (2) 2,935 2,60 5 Acquisition and integration related costs (3) — 7,315 Earnout recorded as compensation expense (4) — 229 Restructuring costs (5) 171 7,174 Adjusted loss from operations (non-GAAP) $ (18,859) $ (19,755)
Contact Us General inquiries 900 Middlesex Turnpike, Billerica, MA 01821 USA 617.301.9400 info@quanterix.com www.quanterix.com