Quanterix Corporation · NASDAQ:QTRX
Quanterix — Q1 2021 Earnings Presentation
32 slides from Quanterix's earnings presentation, May 5, 2021
Slide 1: Q1 2021 Earnings Call
Q1 2021 Earnings Call Kevin Hrusovsky, Chairman, CEO & President May 5, 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 Q1 2021 Advances Financial Results Objectives 2021 - Accelerated Growth - Growth - Neuro / COVID Catalysts - GM advance - Scaling potential & strategy - Growth capital Q1 2021 Earnings Call | May 5, 2021 | 3
Slide 4: Q1 2021 – Revenue Growth & Gross Margin
Q1 2021 ADVANCES Q1 2021 – Revenue Growth & Gross Margin Revenue 86.4 $m GAAP Revenue Q1 2020 Q1 2021 Growth% Mix% GAAP & Non-GAAP* 3.8 +86% 26% 17.6 Instruments 7.0 $m Revenue 68.8 6.1 Q1 RADx, Abbott License Consumables 11.3 +86% 42% 56.7 5.8 Lab. & Services 6.4 +11% 24% 53.1 37.6 Revenue ($millio
Slide 5: Q1 2021 Progress: Laying the foundation for Value Ascent
Q1 2021 ADVANCES Q1 2021 Progress: Laying the foundation for Value Ascent COVID Neuro Antigen Test EUA & Bridge to Diagnostics Significant demand for pTau-181 & NeuroPlex Research Antigen test Advantage Assay Alzheimer’s drug trials momentum & strategy Consumables catalysts Record Instru
Slide 6: Scientific Validation driving Adoption
Q1 2021 ADVANCES Scientific Validation driving Adoption PUBLICATIONS BIOMARKERS INSTRUMENTS ACCELERATOR Cumulative Cumulative Placements Projects & Revenue Neurology 139 1,230 421 # of units placed 578 132 Immunology & Oncology 403 Cumulative $m Revenue Infectious Diseases 100 32 535 51 1,120 Number
Slide 7: Revenue Stratification (TTM)
Q1 2021 ADVANCES Revenue Stratification (TTM) Other 8% 12% Services 9% 25% Products & 30% Geography 45% Customer Diseases 23% Services 65% 62% 55% 24% 42% GROWTH GROWTH GROWTH GROWTH NA +40% Pharma / CROs +23% Neurology +46% Instruments +30% Europe +32% Academia +34% Oncology** +13% Consumables +27%
Slide 8: Compelling Thesis to Lead Proteomics into Precision Health Era
POWERING PRECISION HEALTH – VISION & STRATEGY Compelling Thesis to Lead Proteomics into Precision Health Era Execution Aspiration 10 to 15x Value Creation 2 to 3x Value Creation RESEARCH & DISCOVERY D I A G N O S T I C S & H E A LT H S C R E E N S $1B to $20B TAM2 $12B to $100B TAM2 Validation: Pubs
Slide 9: Compelling Thesis to Lead Proteomics into Precision Health Era
POWERING PRECISION HEALTH – VISION & STRATEGY Compelling Thesis to Lead Proteomics into Precision Health Era Execution Aspiration 2 to 3x Value Creation 10 to 15x Value Creation RESEARCH & DISCOVERY D I A G N O S T I C S & H E A LT H S C R E E N S $1B to $20B TAM2 $12B to $100B TAM2 Validation: Pubs
Slide 10: 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 11: Q1 2021 Earnings Call | May 5, 2021 | 11
Q1 2021 Earnings Call | May 5, 2021 | 11
Slide 12: Proteomics across Value Chain
POWERING PRECISION HEALTH – VISION & STRATEGY Proteomics across Value Chain Discovery Basic Research Drug Development Dx & Health Screens High Plex Mid-Plex Low-to-Mid Plex Today: Largely Single-Plex Plexity 1000+ Plex 5-50 Plex Single-Plex to 10-Plex Future: 5-10 Plex TAM 2025+* $1 Bn $2 Bn $12 Bn
Slide 13: Proteomics across Value Chain
POWERING PRECISION HEALTH – VISION & STRATEGY Proteomics across Value Chain Shift from symptomatic to asymptomatic Discovery Basic Research Drug Development Dx & Health Screens High Plex Mid-Plex Low-to-Mid Plex Today: Largely Single-Plex Plexity 1000+ Plex 5-50 Plex Single-Plex to 10-Plex Future: 5
Slide 14: Q1 2021 Earnings Call | May 5, 2021 | 14
Q1 2021 Earnings Call | May 5, 2021 | 14
Slide 15: Q1 2021 Earnings Call | May 5, 2021 | 15
Q1 2021 Earnings Call | May 5, 2021 | 15
Slide 16: Q1 2021 Earnings Call | May 5, 2021 | 16
Q1 2021 Earnings Call | May 5, 2021 | 16
Slide 17: Q1 2021 Earnings Call | May 5, 2021 | 17
Q1 2021 Earnings Call | May 5, 2021 | 17
Slide 18: Q1 2021 Earnings Call | May 5, 2021 | 18
Q1 2021 Earnings Call | May 5, 2021 | 18
Slide 19: Q1 2021 Earnings Call | May 5, 2021 | 19
Q1 2021 Earnings Call | May 5, 2021 | 19
Slide 20: Q1 2021 Earnings Call | May 5, 2021 | 20
Q1 2021 Earnings Call | May 5, 2021 | 20
Slide 21: Q1 2021 Earnings Call | May 5, 2021 | 21
Q1 2021 Earnings Call | May 5, 2021 | 21
Slide 22: Serum Nf-L Powering Major MS Drug Trials
POWERING PRECISION HEALTH – BRAIN HEALTH Serum Nf-L Powering Major MS Drug Trials $25B* Market – 16 drugs Right R EL APSE Drug? EDSS 1.0 EDSS 3.0 EDSS 5.0 EDSS 7.0 No disability Moderate Affects daily Restricted to disability activities wheelchair Phase III ASCLEPIOS I/II trials Nf-L secondary endpo
Slide 23: Accelerators Driving Rapid Adoption for Transforming Drug Development
POWERING PRECISION HEALTH – VISION & STRATEGY Accelerators Driving Rapid Adoption for Transforming Drug Development Research Institutions Biopharma CROs & Other Q1 2021 Earnings Call | May 5, 2021 | 23
Slide 24: Neurodegeneration Landscape
POWERING PRECISION HEALTH – BRAIN HEALTH Neurodegeneration Landscape Number of US Patients Multiple Alzheimer’s ALS Huntington’s Sclerosis Parkinson’s TOTAL 5,000,000 30,000 30,000 400,000 1,000,000 6,460,000 Total Addressable Largest opportunities are Nfl (neurofilament light Market annually is in
Slide 25: QTRX Is a Solid Fit and <10% Penetrated
POWERING PRECISION HEALTH – BRAIN HEALTH QTRX IS A SOLID FIT AND <10% PENETRATED 360 NDD Agents in Pipeline % of Molecules in Drug Pipeline Globally, by Therapeutic Area # of molecules in NDD drug pipeline (n=360) Development status: Active; Current stage: Phase I-III Active; Phase I-III Alzheimer’s
Slide 26: QTRX Is Poised for Advancing NDD Clinical Trials
POWERING PRECISION HEALTH – BRAIN HEALTH QTRX IS POISED FOR ADVANCING NDD CLINICAL TRIALS > 80% Alzheimer’s, Parkinson’s and Multiple sclerosis # of Industry sponsored, Active & Planned, # of Industry sponsored, Active & Planned, Clinical trials for NDD, globally (2016-’20) Clinical trials for NDD,
Slide 27: Neurodegeneration Biomarkers (in Blood): Quanterix is Key
POWERING PRECISION HEALTH – BRAIN HEALTH Neurodegeneration Biomarkers (in Blood): Quanterix is Key Blood Biomarker/Gene Alzheimer’s Parkinson’s ALS MS Concussion Neurofilament Light (NfL) Amyloid β 40 & 42 pTau 181 Quanterix leads pTau 217/231 other platforms in Total Tau its inclusion in published,
Slide 28: Cutting Edge Pre-Symptomatic Discrimination of Alzheimer's Disease
POWERING PRECISION HEALTH – BRAIN HEALTH Cutting Edge Pre-Symptomatic Discrimination of Alzheimer’s Disease Partnership model on leading Alzheimer’s programs Tau PET Imaging Current Biomarker Testing Quanterix • Simoa IP & PPH ecosystem • Ab content (NfL) + Ab partnerships • Biomarker / instrument d
Slide 29: Q1 2021 Financials, RADx Accounting
FINANCIAL RESULTS Q1 2021 Financials, RADx Accounting GAAP Non-GAAP* In $m Q1 2021 Q1 2020 Q1 2021 Q1 2020 • Record Instrument Revenue $7m / +86% Instrument 7.0 3.8 7.0 3.8 • Record Consumables Revenue $11.3m / +86% Growth vs. PYR 86% 86% Consumable 11.3 6.1 11.3 6.1 • Non-GAAP Gross Margin 58.5%* /
Slide 30: Objectives 2021
OBJECTIVES 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 Quanterix supply to >10% Antigen & Serology EUA accelerate publications 30-40% ‘19-’24 and global channel penetrati
Slide 31: Appendix
Appendix
Slide 32: Use of Non-GAAP numbers
Use of Non-GAAP numbers Cost of Goods Gross Margin Operating Loss from In $m Total Revenue Gross Profit Sold % Expenses Operations GAAP 27.2 10.9 16.3 60.1% 26.1 -9.8 Non-GAAP adjustments: Q1 Grant revenue (Note 1) -2.3 -2.3 -2.3 2021 Acquisition-related purchase accounting charges (Note 2) -0.5 0.5