Business
Quanterix Corporation Releases Operating Results for Second Quarter of 2021
Q2 GAAP revenue including Grant Revenue $25.4M; Q2 Non-GAAP revenue $24.4M, an increase of 86% over prior year; instrument placements up 71% BILLERICA,
About this update from Quanterix Corporation
[{"type":"text","content":"\nQ2 GAAP revenue including Grant Revenue $25.4M; Q2 Non-GAAP revenue $24.4M, an increase of 86% over prior year; instrument placements up 71%\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, 2021.\n\n“The past quarter has proven to be a pivotal time for our company as we continue to make immense strides with our strategic expansion in the diagnostics space,” said Kevin Hrusovsky, Chairman and Chief Executive Officer, Quanterix. “With drug advances taking place for neurodegenerative diseases, there is a heightened focus to diagnose and detect cognitive conditions like Alzheimer’s Disease as early as possible and then to monitor disease progression in the patient once a drug agent is deployed. We are a leader in this area and improving outcomes and helping advance methodologies to enhance coverage with evidence for payers will change the way disease is studied, drugs are approved and ultimately how care is delivered economically and effectively.”\n\nSecond Quarter 2021 Financial Highlights\n\nKey financial results for the second quarter of 2021 are shown below:\n\n\nQ2 GAAP total revenue, which includes grant revenue of $0.9M, was $25.4M versus prior year Q2 of $13.1M, an increase of 93%;\n\n\nQ2 non-GAAP total revenue was $24.4M versus prior year Q2 of $13.1M, an increase of 86%;\n\n\nQ2 GAAP product revenue was $18.7M versus prior year Q2 of $6.8M, an increase of 175%;\n\n\nQ2 GAAP service and other revenue was $5.6M versus prior year Q2 of $6.3M, a decrease of 11%;\n\n\nQ2 GAAP gross margin was 54.7% versus prior year Q2 of 39.7%, an increase of 1,500 bps; Q2 non-GAAP gross margin was 55.1% versus prior year Q2 of 44.1%, an increase of 1,100 bps\n\n\n1H 2021 Financial Highlights\n\nKey financial results for the first half of 2021 are shown below:\n\n\n1H GAAP total revenue, which includes grant revenue of $3.2M, was $52.6M versus prior year 1H of $28.9M, an increase of 82%;\n\n\n1H non-GAAP total revenue was $49.3M versus prior year 1H of $28.9M, an increase of 71%;\n\n\n1H GAAP product revenue was $36.9M versus prior year 1H of $16.6M, an increase of 122%;\n\n\n1H GAAP service and other revenue was $12.1M, consistent with prior year 1H of $12.1M...