Business
Quanterix Corporation Releases Operating Results for First Quarter 2021
Q1 GAAP revenue including grant revenue $27.2M; Q1 non-GAAP revenue $24.9M, an increase of 58% versus prior year BILLERICA, Mass.--(BUSINESS WIRE)--
About this update from Quanterix Corporation
[{"type":"text","content":"\nQ1 GAAP revenue including grant revenue $27.2M; Q1 non-GAAP revenue $24.9M, an increase of 58% versus prior year\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nQuanterix Corporation (NASDAQ: QTRX), a company helping to transform healthcare with digital protein biomarker technology enabling precision health, today announced financial results for the three months ending March 31, 2021.\n\n“We made productive advances on our strategic and operational priorities during the first quarter 2021,” said Chairman, Chief Executive Officer and President, Quanterix, Kevin Hrusovsky. “The precision health ecosystem continues to catalyze interest and adoption from healthcare payors, government agencies, academia, and pharmaceutical companies as they make tangible advances in developing drug therapies for Alzheimer’s, Parkinson’s, Multiple Sclerosis, traumatic brain injury, COVID-19, infectious diseases and cancers. We are rapidly innovating our technology and expanding our assay menu with a priority focus on early detection plasma biomarkers for Alzheimer’s and neuro-degeneration to keep pace with today’s research demands and deliver on the promise of non-invasive biomarkers to fuel breakthroughs in diagnostics and drug development.”\n\nFirst Quarter 2021 Financial Highlights\n\nKey financial results for the first quarter of 2021 are shown below:\n\n\nQ1 GAAP total revenue, which includes grant revenue of $2.3M, was $27.2M versus prior year Q1 of $15.7M;\n\n\nQ1 non-GAAP total revenue was $24.9M versus prior year Q1 of $15.7M, an increase of 58%;\n\n\nQ1 GAAP product revenue was $18.2M versus prior year Q1 of $9.8M, an increase of 86%;\n\n\nQ1 GAAP service and other revenue was $6.4M versus prior year Q1 of $5.8M, an increase of 11%\n\n\nQ1 GAAP gross margin was 60.1%; Q1 non-GAAP gross margin was 58.5% versus prior year Q1 of 48.5%, an increase of 1,000 bps.\n\n\nFor additional information on the non-GAAP financial measures included in this press release, please see “Use of Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financials” below.\n\nFirst Quarter Business Highlights\n\n\nReceived Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for Quanterix’ Simoa® SARS-CoV-2 N Protein Antigen Test that can be run on the Simoa HD-X Analyzer®.\n\n\nReleased the SARS-CoV-2 N Protein Antigen Advantage Assay t...