Quanterix Corporation recently released its 10-Q report, providing a detailed look at the company's financial condition and operational results. Quanterix is a life sciences company that specializes in developing and marketing digital immunoassay platforms for life sciences research and diagnostics. The company's products include the HD-X instrument, SR-X instrument, and SP-X instrument, which enable the detection of protein biomarkers at ultra-low concentrations. Quanterix also offers contract research services and operates primarily in the areas of neurology, oncology, cardiology, infectious diseases, and inflammation.
In the 10-Q report, Quanterix reported a total revenue of $35.8 million for the three months ended September 30, 2024, representing a 13% increase from the $31.6 million reported for the same period in 2023. The product revenue for the same period was $19.7 million, with instrument sales accounting for $2.4 million and sales of consumables and other products totaling $17.3 million. This reflected a slight decrease of $0.2 million compared to the product revenue of $19.9 million reported for the three months ended September 30, 2023.
The company's research and development expenses amounted to $8.1 million, representing 23% of total revenue, while selling, general, and administrative expenses were reported at $22.9 million, accounting for 64% of total revenue. Quanterix reported a net loss of $8.4 million for the three months ended September 30, 2024, compared to a net loss of $6.7 million for the same period in 2023.
Quanterix also highlighted recent business developments, including an agreement to acquire Emission Inc., a company specializing in manufacturing large-scale, highly-uniform dye-encapsulating magnetic beads for low and mid-plex assays. Additionally, the company launched the LucentAD Complete, a confirmatory blood biomarker test for Alzheimer's disease, and completed a six-quarter assay redevelopment program aimed at improving the manufacturing and delivery of high-quality assays at scale.
Following these announcements, the company's shares moved 0.3%, and are now trading at a price of $10.55. For more information, read the company's full 10-Q submission here.
