Business
Quanterix Corporation Releases Operating Results for Third Quarter 2020
GAAP revenue including one-time License and Grant revenue $31.4M; Non-GAAP revenue $18.3M, an increase of 22% versus prior year BILLERICA, Mass.--(BUSINESS
About this update from Quanterix Corporation
[{"type":"text","content":"\nGAAP revenue including one-time License and Grant revenue $31.4M; Non-GAAP revenue $18.3M, an increase of 22% versus prior year \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 September 30, 2020.\n\n“We have made important advances in Alzheimer’s disease, Multiple Sclerosis (MS) and COVID testing and with our platform in Q3’2020 delivering another strong quarter of growth, despite continued headwinds associated with the pandemic,” said Kevin Hrusovsky, Chairman, Chief Executive Officer, President, Quanterix. “We launched important Neurology assays including pTau-181 and a comprehensive N4PE four plex, secured an $18.2M NIH RADx contract to accelerate development, manufacturing scale-up and deployment of our novel high-throughput SARS-CoV-2 antigen test, entered a non-exclusive IVD license agreement with Abbott, initiated surveillance studies with a large US payor and raised nearly $100M in capital, making Q3’2020 one of our more successful quarters in our history. We are encouraged by our operational and strategic momentum and believe our unique ability to detect Neurology biomarkers such as Nf-L and pTau-181 is delivering on the promise of early disease detection from minimally invasive samples. Most importantly, we are pleased with our growth potential associated with COVID, MS and upcoming Alzheimer’s disease trials.”\n\nThird Quarter 2020 Financial Highlights\nKey financial results from the third quarter of 2020 are shown below:\n\n\nQ3 GAAP total revenue, which includes one-time License and Grant Revenue, was $31.4M versus prior year Q3 of $14.9M;\n\n\nQ3 non-GAAP total revenue was $18.3M versus prior year Q3 of $14.9M, an increase of 22%;\n\n\nQ3 GAAP product revenue was $11.7M versus prior year Q3 of $10.7M, an increase of 9%;\n\n\nQ3 GAAP service and other revenue was $6.6M versus prior year Q3 of $4.2M, an increase of 56%\n\n\nYTD 2020 Financial Highlights\nKey financial results for YTD 2020 are shown below:\n\n\nYTD GAAP total revenue was $60.2M versus prior year YTD of $40.8M\n\n\nYTD non-GAAP total revenue was $47.1M versus prior year YTD of $40.8M, an increase of 15%;\n\n\nYTD GAAP product revenue was $28.3M versus prior year YTD of $29.1M...