Quanterix Q1 revenue $28.5M, net loss narrows; raises FY 2023 revenue guidance to $104-111M

Quanterix Corp

2023-Q1 EPS reported -$0.16 revenue$28,456,000

Q1 2023 revenue $28.5M, down 4% YoY from $29.6M, but up 10% sequentially from Q4 2022.
GAAP gross margin improved to 59.5% from 49.3% YoY; non-GAAP gross margin 53.1%.
Net loss narrowed 66% to $6.1M from $18.2M in Q1 2022.
Unrestricted cash $329.4M; cash burn $9.1M in Q1.
Raised FY 2023 revenue guidance to $104-111M (core +9% YoY); expects GAAP gross margin high 40s.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Quanterix Corp reported full year 2023 results: revenue $99.5 - $106.5. Guidance raised.

Period: full year 2023
Revenue: $99.5 - $106.5
Guidance: raised
Result: guidance update

Exact text from the filing

2023 Guidance We have made a modest positive adjustment to our full year 2023 Revenue and Gross Margin % guidance 1 Gross Margin % Expect FY 2023 GAAP gross margin in the high 40s and non-GAAP gross margin in the mid 40s $4.5 2023 Guidance ~$11.0 2022 Actual Revenue ~$94.5 $99.5 - $106.5 $105.5 $104 - $111 (in millions) Pharma Collaboration(s) Core product and services revenue +9% MP YoY Cash Burn Cash burn guidance remains unchanged. Expect cash burn to improve by approximately 10% in 2023 versus 2022 Cash flow positive at $170-$190M in revenue

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Quanterix Corp reported three months ended March 31, 2023 results: revenue $28.5 million, net income -$6.1 million.

Period: three months ended March 31, 2023
Revenue: $28.5 million
Net income: -$6.1 million
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Highlights ● Q1 total revenue was $28.5 million versus prior year Q1 of $29.6 million, a decrease of 4% driven by a decline in instrument revenue. Q1 total revenue increased 10% from Q4 2022 driven by increased consumable revenue. ● Gross margin, a key success indicator of the strategic realignment, saw strong quarter over quarter improvement. Q1 2023 GAAP gross margin was 59.5% versus Q1 2022 GAAP gross margin of 49.3% and Q4 2022 GAAP gross margin of 48.8%. Q1 2023 non-GAAP gross margin was 53.1% versus Q1 2022 non-GAAP gross margin of 43.2% and Q4 2022 non-GAAP gross margin of 41.3%. ● Q1 net loss was $6.1 million versus prior year Q1 of $18.2 million, a decrease of 66%.

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Source: SEC EDGAR

accession 0001558370-23-008804

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