Quanterix Corporation Q2 FY2025 earnings call

• Completed the Akoya acquisition and positioned for long-term growth. • Generated $24 million in revenue in Q2 despite temporary headwinds in academic funding and biopharma spending. • Combined Quanterix and Akoya teams created a lean and nimble organizational structure aiming for breakeven in 2026 with double-digit growth. • Proteomics is a key growth area with Quanterix's Simoa and Spatial platforms. • Expanded addressable market to $5 billion across neurology, immunology, and oncology. • Launching Simoa One platform by end of 2025 with high-margin growth potential. • Strengthening Alzheimer's diagnostic franchise with new partnerships and regulatory progress. • Allocated ~30% of revenues to R&D for innovation.

Total revenue for Q2 2025 was $24.5 million, down 29% year-over-year. Consumable revenue was $14.9 million, instrument revenue was $2 million. Accelerator Lab revenue was $4 million, down 60%, and sales to diagnostics partners totaled $2.6 million for the quarter, up from $700,000 in the prior year period. Akoya generated $18.2 million in Q2. Pro forma revenue mix is 53% neurology and 47% immunology and oncology.

• Combined company expects 2025 revenue of $130 million to $135 million, with ~$100 million to $105 million from Simoa. • GAAP gross margin expected to range between 49% and 53%, non-GAAP between 45% and 49%. • Adjusted cash usage for full year expected to be $34 million to $38 million. • Aim to be cash flow positive in 2026. • Expect $85 million in synergy savings by 2026, with 75% already implemented through realigning sales teams, rationalizing operations, and eliminating duplicate costs.

• Temporary headwinds in academic funding and biopharma spending impacting revenue. • Market uncertainty affecting the company's financial performance. • Risks associated with integrating the Akoya acquisition, including potential challenges in aligning operations and achieving synergies.

Q: Michael asks about Accelerator and academic side.

A: Masoud states Accelerator business shows vitality with 40% YOY growth but smaller project sizes; academic consumables franchise is resilient with stable revenue.

Q: Thomas asks about cost actions.

A: Vandana mentions integration philosophy of operating as one company, realizing significant savings in operations with overlap in processes, and ring-fencing growth areas for Simoa and Spatial