Business
Quanterix Corporation Releases Operating Results for Fourth Quarter and Full Year 2019
46% Q4 revenue growth; 51% full year growth BILLERICA, Mass.--(BUSINESS WIRE)-- Quanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis
About this update from Quanterix Corporation
[{"type":"text","content":"\n46% Q4 revenue growth; 51% full year growth\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nQuanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis to advance the science of precision health, today announced financial results for the fourth quarter and 12 months ended December 31, 2019.\n\n\n“We’re pleased to close out another year of compelling growth, product launches, productive capital raises, key hires and technology adoption, marking our ninth consecutive quarter of strong performance since going public two years ago,” said Kevin Hrusovsky, Chief Executive Officer, President and Chairman, Quanterix. “2019 validated the vast utility for our Simoa technology to measure novel biomarkers with rich clinical potential such as neurofilament light chain (Nf-L), as well as other neuro biomarkers used in the fight against neurodegenerative diseases, such as Alzheimer’s Disease, Multiple Sclerosis (MS), Parkinson’s Disease, ALS and traumatic brain injury. Our mid-year acquisition of UmanDiagnostics also secured our long-term supply integrity of the fast-growing and highly differentiated Uman Nf-L antibodies, which provide unmatched sensitivity and specificity for Nf-L neurodegeneration measurements in blood. Now that we have harnessed most of the value chain of this highly attractive Nf-L franchise, we are working to fully realize its value creation potential through investments and strategic collaborations with marquee partners. This has catalyzed many growth vectors with wide-ranging potential across the research, drug development and clinical spectrum for neuro, oncology and inflammation biomarkers. We enter 2020 with a solid lineup of new differentiated instruments, serum-based biomarker assays, specialty pharma services and compelling validation stemming from over 650 Simoa-specific inclusions in publications. These advances, plus adoption momentum in drug development, are increasing the longer-term promise for our technologies in the larger, potentially more attractive, clinical landscape.”\n\n\nFourth Quarter 2019 Financial Highlights\nKey financial results for the fourth quarter of 2019 are shown below:\n\n\n\nQ4 revenue was $15.9M versus prior year Q4 of $10.9M, an increase of 46%;\n\n\nQ4 product revenue was $11.4M versus prior year Q4 of $7.5M, an increase of 53%;\n\n\nQ4 service revenue was $4.3M versus p...