Quanterix Corporation · NASDAQ:QTRX

Quanterix — Q4 2021 Earnings Presentation

44 slides from Quanterix's earnings presentation, Mar 1, 2022

  1. Slide 1: Q4 2021 Earnings Call

    Q4 2021 Earnings Call Kevin Hrusovsky, Chairman and CEO March 1, 2022

  2. 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

  3. Slide 3: Today's Agenda

    Today’s Agenda Q4 2021 Advances Financial Results Objectives 2022  CEO Transition  Q4  Q4 & FY Results  FY2021  Eli Lilly Collaboration  Cash flow  Neuro Diagnostic Therapy  Precision Health Proteomics 3

  4. Slide 4: Executive Leadership Succession Plan

    Executive Leadership Succession Plan Masoud Toloue Kevin Hrusovsky President of Quanterix & Diagnostics, Current Chairman of the BoD & CEO, to succeed Kevin Hrusovsky as CEO to become Executive Chairman of Board  To join Board of Directors  Serve as an advisor to Toloue and  Brings strong industr

  5. Slide 5: Our 2021 Results

    Our 2021 Results Continue superb execution & value creation 30-40% ‘19-’24 CAGR in RUO Product (consumables & instruments) revenue increase of 84% yoy Achieved plasma pTau 181 FDA Breakthrough Designation for Alzheimer’s Dx/Triaging Record 465 new publications Academic pull through brings SIMOA publ

  6. Slide 6: Progress thru 2021

    Progress thru 2021 Outstanding execution, Record Consumables Growth 100%+ yoy with ~$400M ending cash balance 2021 SINCE IPO Growth Growth Product growth of 84% yoy Annual product growth of 55% (4-year CAGR) RUO Revenue growth of 53% yoy RUO Revenue growth of 47% (4-year CAGR) Margin Expansion (Non-

  7. Slide 7: Strategic Growth Indicators

    Superb Execution Continues REVENUE ($m) +28% Strategic Q4 Performance 2YR CAGR +53% FY FY 110.6 Growth Indicators GAAP ~40% 105.3 Non-GAAP ~36% 30.3 +16% +21% 29.3 +36% 86.4 Q4 FY Q4 Record Annual Consumables 101% +51% 26.1 68.8 revenue growth, driven by strong utilization ‘ 56.7 21.6 +64% 68% Propo

  8. Slide 8: Q4 2021 – Revenue Growth & Gross Margin

    Q4 2021 – Revenue Growth & Gross Margin YoY CAGR% $m GAAP Revenue Q4 2020 Q4 2021 Mix% Growth% 19-21 5.2 REVENUE 5.6 GAAP & Non-GAAP* Instruments 20% 20% 22% 29.3 + 36% 6.7 Q4 Increase from 10.1 Consumables 16.8 +66% 57% 55% Q3 YTD Q4 ’20 to Q4 ’21 17.6 RADx, Abbott License +36% Lab, Services, and 5

  9. Slide 9: FY 2021 – Revenue Growth & Gross Margin

    FY 2021 – Revenue Growth & Gross Margin YoY CAGR% $m GAAP Revenue 2020 2021 Mix% 110.6 Growth% 19-21 REVENUE 5.2 16.6 GAAP & Non-GAAP* Instruments 26.0 +56% 32% 23% Full Year 27.4 86.4 Consumables 55.1 +101% 47% 50% RADx, Abbott License 17.6 Lab, Services, and 24.7 +48% + 53% Collaboration 24.3 -2%

  10. Slide 10: 2021 Revenue Stratification

    2021 Revenue Stratification 4% Other 9% Services 9% 25% 20% 14% Products & Geography Customer Diseases Services 28% 54% 76% 62% 46% 52% GROWTH GROWTH GROWTH GROWTH NA +54% Pharma / CROs +28% Neurology +101% Instruments +57% Europe +53% Academia +35% Oncology** 0% Consumables +101% Asia +48% Others -

  11. Slide 11: Ecosystem Enables Precision Health Disruption

    Ecosystem Enables Precision Health Disruption Payors offer greatest influence and leverage Improved Outcomes 1. Neuro-COVID 2. Cancer 3. Cardiac Payors MCI PCI INNOVATION PATIENTS Cognitive Annual Impairment Screening Plasma Biomarkers 1 2 Therapies Prevention COVID Credibility Link to samples, biom

  12. Slide 12: Lilly & Quanterix Partner on Alzheimer's Disease Diagnostics

    Lilly & Quanterix Partner on Alzheimer’s Disease Diagnostics pTau 217 Technology License Agreement & Collaboration Agreement Lilly submits Lilly & Quanterix Positive Phase 2 Dose-dependent Simoa pTau 181 Donanemab for announce Dx Donanemab reduction in pTau Breakthrough accelerated development resul

  13. Slide 13: Digital Biomarkers Sensitivity Unlocking Proteomics

    Digital Biomarkers Sensitivity Unlocking Proteomics Detection Limits Research Detection Levels Clinical Invasiveness Nanograms/mL RESEARC H CLINICAL LATE : INVASIVE 1,300 200 Proteins Proteins 13

  14. Slide 14: Digital Biomarkers Sensitivity Unlocking Proteomics

    Digital Biomarkers Sensitivity Unlocking Proteomics Detection Limits Research Detection Levels Clinical Invasiveness Nanograms/mL RESEARC H CLINICAL LATE : INVASIVE 1,300 200 Proteins Proteins RESEARC H CLINICAL 1,000 100,000 1000 to 100,000x Proteins EARLY : NON-INVASIVE Femtograms/mL Proteins more

  15. Slide 15: Proteomics Value Chain

    Proteomics Value Chain Shift From Symptomatic To Asymptomatic TRANSLATI O NAL Discovery Research Drug Trials Dx & Screens Plexity 100+ 1-50 1-10 1-10 TAM $2Bn to $12 Bn $30Bn to $100 Bn $6 Bn $2 Bn 2025+ Increased adoption Asymptomatic + Payors High Cost & Thru-put Thru-put Cost Low NextGen Tools Qu

  16. Slide 16: Proteomics Value Chain

    Proteomics Value Chain Shift From Symptomatic To Asymptomatic TRANSLATI O NAL Discovery Research Drug Trials Dx & Screens Plexity 100+ 1-50 1-10 1-10 TAM $2Bn to $12 Bn $30Bn to $100 Bn $6 Bn $2 Bn 2025+ Increased adoption Asymptomatic + Payors High Cost & Thru-put Thru-put Cost Low NextGen Tools Qu

  17. Slide 17: Proteomics Landscape – Sensitivity – Multiplex

    Proteomics Landscape – Sensitivity – Multiplex plays a key role $30-$100B Screen TAM 0.001 Diagnose pg/mL $4-$14B Monitor TAM INCREASING SENSITIVITY 0.01 pg/mL $6B TAM 0.1 pg/mL 1 pg/mL 10+ pg/mL INCREASING PLEX 1 10 50 100+ 1,000+ DX TRANSLATIONAL DISCOVERY 17

  18. Slide 18: Proteomics Landscape – Sensitivity – Multiplex

    Proteomics Landscape – Sensitivity – Multiplex play a key role $30-$100B Screen TAM 0.001 Diagnose pg/mL $4-$14B Monitor TAM INCREASING SENSITIVITY 0.01 pg/mL $6B TAM 0.1 pg/mL 1 pg/mL 10+ pg/mL INCREASING PLEX 1 10 50 100+ 1,000+ DX TRANSLATIONAL DISCOVERY 18

  19. Slide 19: Strategic Road Map

    Strategic Road Map Research Diagnostics 22/25 Pharmas NIH/FDA COVID Emory PTAU’s + N 4 Plex NfL MS Abbott Neuro SIEMENS Troponin PSA 19

  20. Slide 20: Strategic Road Map

    Strategic Road Map Research Diagnostics 22/25 Pharmas Antigen NIH/FDA COVID Emory Serology PTAU’s + N 4 Plex NfL MS Abbott Neuro SIEMENS Troponin PSA 20

  21. Slide 21: Strategic Road Map

    Strategic Road Map Research Diagnostics 22/25 Pharmas EUA’s Antigen  First authorized for saliva samples NIH/FDA COVID  Validated for all Emory Serology Variants of Concern PTAU’s + N 4 Plex NfL MS Abbott Neuro SIEMENS Troponin PSA 21

  22. Slide 22: Strategic Road Map

    Strategic Road Map Research Diagnostics 22/25 Pharmas EUA’s Antigen  First authorized for saliva samples NIH/FDA COVID  Validated for all Emory Serology Variants of Concern PTAU’s + N 4 Plex Alzheimer’s NfL MS Abbott Neuro SIEMENS Troponin PSA 22

  23. Slide 23: Strategic Road Map

    Strategic Road Map Research Diagnostics 22/25 Pharmas EUA’s Antigen  First authorized for saliva samples NIH/FDA COVID  Validated for all Emory Serology Variants of Concern PTAU’s + N 4 Plex Alzheimer’s  PTAU’s NfL MS  AB Abbott Neuro  GFAP SIEMENS Troponin  NfL PSA 23

  24. Slide 24: Strategic Road Map

    Strategic Road Map Research Diagnostics 22/25 Pharmas EUA’s Antigen  First authorized for saliva samples NIH/FDA COVID  Validated for all Emory Serology Variants of Concern PTAU’s + N 4 Plex Alzheimer’s  PTAU’s NfL MS  AB Abbott Neuro  GFAP SIEMENS Troponin  NfL PSA 24

  25. Slide 25: Scientific Validation Driving Adoption

    Scientific Validation Driving Adoption 2021 Advances Neurology Immunology & Oncology Infectious Diseases Others PUBLICATIONS 1,585 115 BIOMARKERS 480 INSTRUMENTS 708 41 Cumulative Cumulative Placements 73 172 403 44 # of units placed 535 168 Cumulative 1,120 274 322 400 259 274 677 190 278 1,024 467

  26. Slide 26: Blood Neurodegeneration Biomarkers: Quanterix is Clear Leader

    Blood Neurodegeneration Biomarkers: Quanterix is Clear Leader Quanterix leads all other new proteomics platform entrants in its inclusion in published, peer-reviewed scientific literature and studies Blood Biomarker/Gene Alzheimer’s Parkinson’s ALS MS Concussion Neurofilament Light Amyloid ß 42 1585

  27. Slide 27: Accelerators Driving Rapid Adoption for Transforming Drug Development

    Accelerators Driving Rapid Adoption for Transforming Drug Development Research Institutions Biopharma CROs & Other 27

  28. Slide 28: Entering the Neuro Decade… with a Leadership Position

    Entering the Neuro Decade… with a Leadership Position beta NfL amyloid 42/40 GFAP cytokines 28

  29. Slide 29: Potential for Establishing Category Through Diagnostic Disruption

    Potential for Establishing Category Through Diagnostic Disruption $30 Billion $300 Billion 29

  30. Slide 30: Potential for Establishing Category Through Diagnostic Disruption

    Potential for Establishing Category Through Diagnostic Disruption $30 Billion $300 Billion 30

  31. Slide 31: Potential for Establishing Category Through Diagnostic Disruption

    Potential for Establishing Category Through Diagnostic Disruption $30 Billion beta NfL amyloid 42/40 GFAP cytokines $300 Billion 31

  32. Slide 32: Potential for Establishing Category Through Diagnostic Disruption

    Potential for Establishing Category Through Diagnostic Disruption $30 Billion NEURO beta amyloid NfL DIAGNOSTIC 42/40 GFAP cytokines THERAPIES $300 Billion 32

  33. Slide 33: Alzheimer's poised for Transformation

    Alzheimer’s poised for Transformation Drug-trials center-piece of near-term focus TAM <$0.5B A Biomarker Adoption 9 Clinical Utility aenaur acre GR) Sy Imaging & Spinal Tap Data re ptautet_ | ptauzt7 ao AB42,AB40 GFAP Probability of a o_ increase if Blood p-tau181 predicts Drug Approval ~300% biomar

  34. Slide 34: Alzheimer's poised for Transformation

    Alzheimer’s poised for Transformation Drug-trials center-piece of near-term focus TAM <$0.5B A Biomarker Adoption 9 Clinical Utility Sena pmecror ee Sa Imaging & Spinal Tap Data os} Pagan &onovaess prauiet | prauzt7 = rr a Probability of a o_ increase if Blood p-tau181 predicts Drug Approval ~300 %

  35. Slide 35: Simoa pTau-181 & Alzheimer's clinical research

    Simoa pTau-181 & Alzheimer's clinical research Dear CEO, CMO, CSO, This is Kevin Hrusovsky, Chairman and CEO of Quanterix. I’m reaching out to you today because I’d like to speak with you about Drug C’s current Phase III clinical trial "Study C for Alzheimer's Disease Simoa pTau-181 assay granted Br

  36. Slide 36: Worldwide Dementia Cases Expected to Triple by 2050

    Worldwide Dementia Cases Expected to Triple by 2050 Assumes only 10% of the world has Diagnostics access N U M B E R O F G L O B A L 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 $10B $25B Dementia in the world TAM assumptio

  37. Slide 37: Accelerating Clinical Market Entry Alzheimer Rule In Rule Out

    Accelerating Clinical Market Entry Alzheimer Pharma Partnerships has the potential to Accelerate and De-risk Market Penetration Rule Out Rule In Primary care setting Neuro specialist Maximize Maximize sensitivity specificity Identifies the ‘worried well’ Identifies Alzheimer’s patients Clinical tria

  38. Slide 38: Our Objectives in 2022

    Our Objectives in 2022 Continue superb execution & value creation via commercializing disruptive innovation FY 2022 — OBJECTIVES FY RUO revenue $122M to $134M, +22% MP YoY Neuro LDT validation for pTau181 and / or Nf-L for MS Start AD clinical trial for pTau181 & other AD markers (panel) Scale & gro

  39. Slide 39: Q4 2021 & FY2021 Financials

    Q4 2021 & FY2021 Financials Q4 (3 Months) FY2021 GAAP Non-GAAP* GAAP Non-GAAP*  Record annual consumable growth 101% YoY FY2021 v. FY2020 In $m 2021 2020 2021 2020 2021 2020 2021 2020  FY 2021 Non-GAAP Gross Margin +620bps vs. PYR driven by Instrument 6.7 5.6 6.7 5.6 26.0 16.6 26.0 16.6 mix and vo

  40. Slide 40: Poised to Disrupt Healthcare and Create Significant Value

    Poised to Disrupt Healthcare and Create Significant Value EXECUTION: 2 – 3X VALUE CREATION ASPIRATIONAL: 10 – 15X VALUE CREATION 1 Unrivaled Sensitivity / Ecosystem DIFFERENTIATOR VALUE Best in Class Disrupt MARKET 2 Methodical market penetration strategy $1B to $120B New Answers 3 Proteomics; Bette

  41. Slide 41: Poised to Disrupt Healthcare and Create Significant Value

    Poised to Disrupt Healthcare and Create Significant Value EXECUTION: 2 – 3X VALUE CREATION ASPIRATIONAL: 10 – 15X VALUE CREATION 1 Unrivaled Sensitivity / Ecosystem DIFFERENTIATOR VALUE Best in Class Disrupt MARKET 2 Methodical market penetration strategy $1B to $120B New Answers 3 Proteomics; Bette

  42. Slide 42: Aspiration 2.0 Digital Health

    Aspiration 2.0 DIGITAL HEALTH TELEMEDICINE DIGITAL INTERCONNECTED CONTROL DIAGNOSIS COMMUNICATE HEALTHCARE Digital Biomarkers BIOMARKER WATCH Fitbit on Steroids!! 42

  43. Slide 43: Appendix

    Appendix Appendix Quanterix 43

  44. Slide 44: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Total Cost of Gross Gross Operating Loss from In $m Revenue Goods Sold Profit Margin % Expenses Operations Note 1: During the three months ended December 31, 2021, we recognized $1.0 million in revenue in connection with our workplan 2 award under the National Institu

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