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Quanterix Corporation Releases Operating Results for Second Quarter 2020
1H revenue up 12% versus prior year; Q2 services up 33% BILLERICA, Mass.--(BUSINESS WIRE)-- Quanterix Corporation (NASDAQ: QTRX), a company digitizing
About this update from Quanterix Corporation
[{"type":"text","content":"\n1H revenue up 12% versus prior year; Q2 services up 33%\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 three months ending June 30, 2020.\n\n\n“We’re encouraged to report yet another quarter that exceeded expectations and lays the groundwork for recovery to maintain our strong growth trajectory in the second half of the year, despite the continued challenges brought on by the coronavirus pandemic,” said Kevin Hrusovsky, Chairman and Chief Executive Officer, Quanterix. “Quanterix has been quick to respond to the crisis with critical testing advances powered by our Simoa technology’s ultra-sensitivity. Through close linkages with Key Opinion Leaders (KOLs) across the Powering Precision Health (PPH) ecosystem, we've advanced important research and facilitated several strategic partnerships aimed at accelerating vital testing and public health solutions. In tandem, we continue to make remarkable gains in neurology as it relates to the long-term impacts of COVID-19 and the ongoing challenge to unlock the secrets of degenerative conditions, such as Alzheimer's disease and Multiple Sclerosis. Numerous pharmaceutical organizations are relying on our neurology assays for Nf-L and newly launched p-tau181 to study these diseases more effectively in blood and support pivotal drug trials. Despite the uncertain global outlook, we're encouraged by our ability to pivot, to capitalize on new opportunities, the validation we’ve received via hundreds of peer-reviewed journals, and the opportunity before us to support public health at a critical time in history. Our precision health vision has never been more important and essential. We look forward to sharing more about our progress during our earnings call.”\n\n\nSecond Quarter 2020 Financial Highlights\n\n\nKey financial results from the second quarter of 2020 are shown below:\n\n\n\nQ2 total revenue was $13.1M versus prior year Q2 of $13.5M, a decrease of 3%;\n\n\nQ2 product revenue was $6.8M versus prior year Q2 of $8.8M, a decrease of 23%;\n\n\nQ2 service and other revenue was $6.3M versus prior year Q2 of $4.8M, an increase of 33%;\n\n\n\n1H 2020 Financial Highlights\n\n\nKey financial results for the first half of 2020 are shown belo...