Quanterix Corporation · NASDAQ:QTRX
Quanterix — Q3 2021 Earnings Presentation
30 slides from Quanterix's earnings presentation, Nov 4, 2021
Slide 1: Q3 2021 Earnings Call
Q3 2021 Earnings Call Kevin Hrusovsky, Chairman and CEO November 4, 2021
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Forward-Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as wel
Slide 3: Today's Agenda
Today’s Agenda Q3 2021 Advances Financial Results Objectives 2021 - Accelerated Growth - Q3 - SIMOA enabling therapeutic drugs - Cash flow Q3 2021 Earnings Call | November 4, 2021 | 3
Slide 4: Blood-based biomarkers
Ever since the FDA approved Biogen Blood-based and Eisai’s Alzheimer’s disease treatment Aduhelm, the buzzword biomarkers among competing companies has been are fast becoming gold standard surrogates for traditional Tau or “biomarker.” And that’s just what Eli Lilly Abeta PET imaging has to offer wi
Slide 5: Q3 2021 Advances
Q3 2021 ADVANCES Q3 2021 Advances pTau-181 pTau-217 Q3 Financial Results Breakthrough Phase 2 Trailblazer Q3’21 ~46% YoY growth (Non-GAAP) Device Designation with Simoa Q3 YTD ~61% YoY growth (Non-GAAP) Simoa pTau-217 correlates with 2021 Consumable utilization +60% Simoa diagnostic Donane
Slide 6: Q3 2021 – Revenue Growth & Gross Margin
Q3 2021 ADVANCES Q3 2021 – Revenue Growth & Gross Margin CAGR Mix% 86.4 $m Revenue Q3 2020 Q3 2021 RADx, Abbott Growth% Revenue ’19 - ’21 Q3 2021 GAAP & Non-GAAP* 80.3 4.5 Instruments 17.6 4.2 6.5 +44% +25% 23% 7.2 Consumables +98% +47% 51% Q2 YTD Non-GAAP +46% 14.2 Q3 Non-GAAP 26.7 Increase from 6.
Slide 7: Q3 YTD 2021 – Revenue Growth & Gross Margin
Q3 2021 ADVANCES Q3 YTD 2021 – Revenue Growth & Gross Margin $m Revenue CAGR Mix% 86.4 Q3 YTD 2020 Q3 YTD 2021 RADx, Abbott Growth% Revenue ’19 - ’21 Q3 2021 GAAP & Non-GAAP* 80.3 11.0 Instruments 17.6 4.2 19.3 +75% +37% 24% 17.3 Consumables Q3 YTD Non-GAAP 38.3 +122% +43% 48% Q4 Non-GAAP 18.6 RADx,
Slide 8: Revenue Stratification (TTM)
Q3 2021 ADVANCES Revenue Stratification (TTM) Other 10% 13% Services 9% 26% 5% Products & 28% Geography 49% Customer Diseases 16% Services 82% 62% 51% 50% GROWTH GROWTH GROWTH GROWTH NA +63% Pharma / CROs +34% Neurology +111% Instruments +59% Europe +50% Academia +97% Oncology** -24% Consumables +10
Slide 9: Scientific Validation driving Adoption
Q3 2021 Advances Scientific Validation driving Adoption Q3 2021 Advances Neurology Immunology & Oncology Infectious Diseases Others PUBLICATIONS BIOMARKERS INSTRUMENTS ACCELERATOR Cumulative 1,485 Cumulative 455 Placements 664 Projects & Revenue 160 109 38 68 $m Revenue # of units placed 18.0 403 Cu
Slide 10: Strategic Road Map
STRATEGIC ROAD MAP Research Diagnostics NIH/FDA coviD Emory PTAU's + N 4 Plex 4 Nfl Neuro ay el a Quanterix Confidential The Science of Precision Meath 24/25 PHARMAS & Merck Lit, @ labcorp Biogen @) Quest. W Novartis MAYO CLINIC fobonatinn EN @ FRONTAGE G) Phandd lh Bristol Myers Squibb” #8 eurofins
Slide 11: Strategic Road Map
STRATEGIC ROAD MAP Research Diagnostics NIH/FDA COovID Emory Abbott Neuro SIEMENS Quanterix Confidential The Science of Freier ahh 24/25 PHARMAS > MERCK Li, @ labcorp ® Biogen @) mes. tb NOVARTIS MAYO CLINIC ‘Mayo Medical Laboratories. fofmronaGofmen @ FRONTAGE > Pista lh Bristol Myers Squibb” “8 eu
Slide 12: Strategic Road Map
STRATEGIC ROAD MAP Research Diagnostics = First authorized for saliva NIH/FDA COvID Emory PTAU’s + N 4 Plex a NfL Abbott Neuro » T i SIEMENS a Confidential Quanterix ‘The Sena of reciion Heath 24/25 PHARMAS > MERCK Ler, @ labcorp * Biogen (@) aes... Novartis MAYO CLINIC fobmonetinon @ FRONTAGE Piss
Slide 13: Compelling Thesis to Lead Proteomics into Precision Health Era
Q3 2021 Advances Compelling Thesis to Lead Proteomics into Precision Health Era Execution Aspiration 2 to 3x Value Creation 10 to 15x Value Creation RESEARCH & DISCOVERY DIAGNOSTICS & HEALTH SCREENS $1B to $20B TAM2 $12B to $100B TAM2 Strong Validation – pTau181 Breakthrough Device Mounting Evidence
Slide 14: Digital Biomarkers Sensitivity Unlocking Proteomics
POWERING PRECISION HEALTH – VISION & STRATEGY Digital Biomarkers Sensitivity Unlocking Proteomics Research Clinical LATE : INVASIVE 1300 Proteins 200 Proteins Nanograms/mL Detection limits Femtograms/mL Research Clinical 100,000 1000 Proteins 1000 to 100,000x Proteins More sensitive EARLY : NON-INVA
Slide 15: Digital Biomarkers Sensitivity Unlocking Proteomics
POWERING PRECISION HEALTH – VISION & STRATEGY Digital Biomarkers Sensitivity Unlocking Proteomics Q3 2021 Earnings Call | November 4, 2021 | 15
Slide 16: Simoa provides insight into Health to Disease Continuum
POWERING PRECISION HEALTH – VISION & STRATEGY Simoa® provides insight into Health to Disease Continuum Q3 2021 Earnings Call | November 4, 2021 | 16
Slide 17: Simoa provides insight into Health to Disease Continuum
POWERING PRECISION HEALTH – VISION & STRATEGY Simoa® provides insight into Health to Disease Continuum Q3 2021 Earnings Call | November 4, 2021 | 17
Slide 18: Simoa provides insight into Health to Disease Continuum
POWERING PRECISION HEALTH – VISION & STRATEGY Simoa® provides insight into Health to Disease Continuum Q3 2021 Earnings Call | November 4, 2021 | 18
Slide 19: Potential for Establishing Category Through Diagnostic Disruption
Q3 2021 Advances Potential for Establishing Category Through Diagnostic Disruption $30 Billion Protein & Antibody Applied Research NEURO beta amyloid NfL DIAGNOSTIC 42/40 GFAP cytokines THERAPIES $300 Billion Q3 2021 Earnings Call | November 4, 2021 | 19
Slide 20: Neurology poised for Value Creation Chain Reaction
Q3 2021 Advances Neurology poised for Value Creation Chain Reaction Drug-trials center-piece of near-term focus Biomarker Adoption Demonstrate Clinical Diagnostics & TAM <$0.5B Validity & Utility Health Screens TAM $11B Imaging & Spinal Tap Data (End-Points, Early disease & Patient Stratification) N
Slide 21: Eli Lilly Asks FDA to Approve Alzheimer's Drug
Q3 2021 Advances Eli Lilly Asks FDA to Approve Alzheimer’s Drug Tuesday, Lilly announces real-time submission for its donanemab to the U.S. FDA. Expects to complete its application in the next several months, which could lead to an FDA decision in the second half of 2022 The Wall Street Journal, Oct
Slide 22: Simoa pTau-181 diagnostic accuracy
Q3 2021 Advances Simoa pTau-181 diagnostic accuracy Representative breakthrough data published in Lancet Neurology1 Discrimination of Alzheimer’s Discrimination of Aβ positive from Aβ Plasma pTau-181 vs. PET vs. Aβ negative subjects negative in asymptomatic subjects Tau PET tau [18F]MK-6240 BioFINDE
Slide 23: Simoa multi-analyte approach to early Alzheimer's detection
Q3 2021 Advances Simoa multi-analyte approach to early Alzheimer’s detection Analyte signal contributions vary with the disease continuum Relative signal strengths vs HC’s representative AUC’s Aβ42/Aβ40 0.79 NS NS Contribution to multi-analyte model P-tau 0.75 0.80 0.95 Low High Blood biomarker: NFL
Slide 24: Worldwide Dementia Cases Expected to Triple by 2050
Q3 2021 ADVANCES Worldwide Dementia Cases Expected to Triple by 2050 Assumes only 10% of the world has Diagnostics access NUMBER OF GLOBAL PAT I E N T S S C R E E N I N G TA M ¸¸ ¸¸¸ Today 2050 Every 3 seconds Today 2050 55 million 152 million someone develops $7.5B $22.5B Dementia in the world TAM
Slide 25: Accelerating Clinical Market Entry Alzheimer
Q3 2021 ADVANCES Accelerating Clinical Market Entry Alzheimer Partnerships have the potential to accelerate and de-risk market penetration RULE OUT RULE IN • Primary care setting Maximize Maximize • Neuro specialist • Identifies the ‘worried well’ sensitivity specificity • Identifies Alzheimer’s pat
Slide 26: Simoa NfL in Multiple Sclerosis
Q3 2021 ADVANCES Simoa NfL in Multiple Sclerosis QTRX has the only commercially available blood test for NfL (1) Std of Care for MS Monitoring Rapidly Growing Clinical Evidence Rapidly Expanding WW Adoption NfL MS publications by year* 100 Int’l consensus $3,000 MRI 80 Novartis Simoa NfL 60 introduc
Slide 27: Q3 2021 Financials
Q3 2021 ADVANCES Q3 2021 Financials Q3 (3 Months) YTD (9 Months) GAAP Non-GAAP* GAAP Non-GAAP* • Record Product Revenue $20.7m / +77% In $m 2021 2020 2021 2020 2021 2020 2021 2020 • Non-GAAP Gross Margin 54.8%* /+330 bps vs. PYR, Instrument 6.5 4.5 6.5 4.5 19.3 11.0 19.3 11.0 driven by volume, price
Slide 28: Objectives 2021
Q3 2021 Advances Objectives 2021 RUO 2019-2024 CAGR 30-40% Neurology COVID Immunology Financials Platform Increase trial penetration Drive Leverageable Expand Assay Menu & RUO 5Yr CAGR Scale supply and global to >10% Antigen & Serology EUA accelerate publications 30-40% ‘19-’24 channel penetration N
Slide 29: Appendix
APPENDIX Q3 2021 Earnings Call | November 4, 2021 | 29
Slide 30: Use of Non-GAAP Numbers
Use of Non-GAAP Numbers In $m Total Cost of Gross Gross Operating Loss from Note 1: During the three months ended September 30, 2021, we recognized $1.0 million in revenue in connection Revenue Goods Sold Profit Margin % Expenses Operations with our workplan 2 award under the National Institute of H