Quanterix Q2 rev down 7.4% to $23.5M; net loss widens; announces 130 job cuts; Chairman resigns

Quanterix Corp

2022-Q2 EPS reported -$1.17 revenue$53,052,000

Q2 total revenue $23.5M (-7.4% YoY); product revenue $14.8M (-20.8%); net loss $24.9M vs $11.9M prior year.
GAAP gross margin fell to 37.1% from 54.7%; pro-forma gross margin 28.3% from 47.5%.
Restructuring eliminates ~130 positions; expects $7M-$10M charge in Q3 and $25M annualized savings.
FY2022 revenue guidance revised to flat vs 2021; expects return to double-digit growth by 2024.
Executive Chairman E. Kevin Hrusovsky resigns; Lead Independent Director Martin D. Madaus elected Chairman.

item 2.02 item 2.05 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Martin D. Madaus

Chairman of the Board

QTRX · Quanterix Corp

Effective: 2022-08-08
Filed: August 8, 2022, 7:59 PM ET

The Company’s current Lead Independent Director, Martin D. Madaus, Ph.D., has been elected to succeed Mr. Hrusovsky as Chairman of the Board, effective as of August 8, 2022.

Departed

E. Kevin Hrusovsky

Executive Chairman

QTRX · Quanterix Corp

Effective: 2022-08-08
Successor: Martin D. Madaus
Filed: August 8, 2022, 7:59 PM ET

his employment as Executive Chairman of the Company’s Board of Directors (the “Board”) has ended and he has resigned as a Director on the Board, both effective as of August 8, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Martin D. Madaus was elected as Chairman of the Board at Quanterix Corp.

Action: elected
Role: Chairman of the Board

Exact text from the filing

The Company’s current Lead Independent Director, Martin D. Madaus, Ph.D., has been elected to succeed Mr. Hrusovsky as Chairman of the Board, effective as of August 8, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

E. Kevin Hrusovsky resigned as Executive Chairman at Quanterix Corp.

Action: resigned
Role: Executive Chairman

Exact text from the filing

his employment as Executive Chairman of the Company’s Board of Directors (the “Board”) has ended and he has resigned as a Director on the Board, both effective as of August 8, 2022.

View on SEC.gov

Quanterix Corp filing history →

Source: SEC EDGAR

accession 0001104659-22-087235

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