Quanterix Corporation · NASDAQ:QTRX
Quanterix — Q2 2021 Earnings Presentation
31 slides from Quanterix's earnings presentation, Aug 5, 2021
Slide 1: Q2 2021 Earnings Call
Q2 2021 Earnings Call Kevin Hrusovsky, Chairman & CEO August 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 Q2 2021 Advances Financial Results Objectives 2021 - Accelerated Growth - Q2 & H1 - SIMOA enabling therapeutic drugs - Cash flow Q2 2021 Earnings Call | August 5, 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: 2021 H1 Progress: Record Growth, Adoption & Value Ascent
2021 H1 Progress: Record Growth, Adoption & Value Ascent Neuro Acceleration Business Updates Record revenue, growth & biomarker momentum Payor Adoption – Population studies First Alzheimer’s DMT approved by FDA Leading-edge Long-Hauler menu & Nf-L linkages pTau-181 & NeuroPlex; Strong grow
Slide 6: Q2 2021 – Revenue Growth & Gross Margin
Q2 2021 – Revenue Growth & Gross Margin $m GAAP Revenue Q2 2020 Q2 2021 CAGR Mix% Revenue 86.4 Growth% ’19 - ’21 1H 2021 GAAP & Non-GAAP* 2.8 Instruments 5.8 +111% +47% 23% 17.6 4.0 Consumables 12.8 +219% +45% 51% Q1 6.3 Lab. & Services 5.6 -11% +9% 22% Q2 RADx, Abbott License* 56.7 Other and RADx 0
Slide 7: 1H 2021 – Revenue Growth & Gross Margin
1H 2021 – Revenue Growth & Gross Margin 86.4 $m GAAP Revenue 1H 2020 1H 2021 Growth% CAGR Mix% Revenue ’19 - ’21 1H 2021 GAAP & Non-GAAP* Instruments 6.5 12.8 +96% +45% 24% 17.6 10.1 Consumables 24.1 +139% +41% 46% 1H 12.1 Lab. & Services 12.1 0% +26% 23% RADx, Abbott License* 56.7 Other and RADx 0.
Slide 8: Revenue Stratification (TTM)
Revenue Stratification (TTM) Other 9% 12% Services 9% 26% 7% Products & 29% Geography 46% Customer Diseases 18% Services 80% 62% 54% 47% GROWTH GROWTH GROWTH GROWTH NA +63% Pharma / CROs +41% Neurology +80% Instruments +50% Europe +43% Academia +68% Oncology** +36% Consumables +76% Asia +19% Others
Slide 9: Scientific Validation driving Adoption
Scientific Validation driving Adoption PUBLICATIONS BIOMARKERS INSTRUMENTS ACCELERATOR Cumulative 1,360 Cumulative Placements 621 Projects & Revenue 149 432 105 403 34 132 # of units placed 62 $m Revenue Cumulative 535 18.0 1,120 145 37 Number of Drug Trial Projects 322 140 267 400 259 677 252 10.0
Slide 10: Compelling Thesis to Lead Proteomics into Precision Health Era
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 Mounting Evidence – AAIC plasma pTau 217 Strategy: Fortify Moat
Slide 11: 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 12: Digital Biomarkers Sensitivity Unlocking Proteomics
POWERING PRECISION HEALTH – VISION & STRATEGY Digital Biomarkers Sensitivity Unlocking Proteomics Q2 2021 Earnings Call | August 5, 2021 | 12
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: Simoa provides insight into Health to Disease Continuum
POWERING PRECISION HEALTH – VISION & STRATEGY Simoa® provides insight into Health to Disease Continuum Q2 2021 Earnings Call | August 5, 2021 | 14
Slide 15: Simoa provides insight into Health to Disease Continuum
POWERING PRECISION HEALTH – VISION & STRATEGY Simoa® provides insight into Health to Disease Continuum Q2 2021 Earnings Call | August 5, 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 Q2 2021 Earnings Call | August 5, 2021 | 16
Slide 17: Establishing Therapy Category Through Diagnostic Disruption
Establishing Therapy Category Through Diagnostic Disruption beta NfL amyloi GFAP - Coverage with Evidence d 42/40 - Better Outcomes - Higher Efficiency Q2 2021 Earnings Call | August 5, 2021 | 17
Slide 18: Neurology poised for Value Creation Chain Reaction
Neurology poised for Value Creation Chain Reaction Drug-trials center-piece of near-term focus TAM <0.5B 16 Years Before Dementia Demonstrate Clinical 2 Validity & Utility Imaging & Spinal Tap Data Biomarker Biomarker 0 Discovery 1 Adoption NfL Aβ42,Aβ40 pTau181 tTau pTau217 GFAP Research led by (En
Slide 19: VIP Access to Powering Precision Health Ecosystem
VIP Access to Powering Precision Health Ecosystem Take Leadership with Pharma to Develop & Commercialize Plasma Testing For AD & Neuro New Momentum Targeting Teaming Up with Pharma Improved Outcomes Neuro Diagnostic Payors Therapies Development & Commercialization MCI PCI INNOVATION PATIENTS Cogniti
Slide 20: The Biomarker Opportunity
Therapy Development: Parallel Evolution New therapies for complex diseases require a first—often controversial—step that stimulates further trials and investment HIV is now a chronic disease HIV THERAPY DEVELOPMENT Led to 29 therapies in CD4 Cell 16 years Count was initial Advocacy biomarker, follow
Slide 21: Biomarker Tests Enable Earlier Access to Therapeutic Drugs
Biomarker Tests Enable Earlier Access to Therapeutic Drugs Cholesterol Biomarker Test ⟶ Statin Rx Alzheimer’s Biomarker Tests ⟶ ADUHELM 35M $1T 42M 01 Alzheimer’s US patients US sales disease pathway patients on statins annually modifying drug STATINS REDUCE CHOLESTEROL Approved Today: $5K PET scan
Slide 22: Multicenter validation study of Dx value of NFL
Multicenter validation study of Dx value of NFL NFL levels can be informative for cognitive impairment: Ashton et. al. • Largest most diverse study of plasma NFL to date (2269 people) 13 neurodegenerative disorders. 40 sites, Involvement of key KOLs (Ashton, Henrick, Kaj, Oskar Hanson) • Looked at p
Slide 23: Serum Nf-L Powering Major MS Drug Trials
POWERING PRECISION HEALTH – BRAIN HEALTH Serum Nf-L Powering Major MS Drug Trials $22B Market – 16 drugs Right RELAPSE 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 endpoint
Slide 24: Neurofilament Light: The Cholesterol of the Brain
Neurofilament Light: The Cholesterol of the Brain Vision for Routine Screening Test for Brain Health Neurofilament Light: Vital Screening Tool for Brain Health UMAN DIAGNOSTICS: Concussion Superior NfL Antibodies Multiple Sclerosis Alzheimer’s Disease Parkinson’s Non-AD Dementia CNS Inur
Slide 25: Neurodegeneration Landscape
POWERING PRECISION HEALTH – BRAIN HEALTH Neurodegeneration Landscape Source: The challenge of Neurodegeneration Diseases Q2 2021 Earnings Call | August 5, 2021 | 25
Slide 26: Quanterix leads Neurodegeneration Biomarkers (in Blood)
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 its inclusion in Total Tau published, peer- UCH-L1 reviewed scientific TDP-4
Slide 27: Simoa Sensitivity Unlocks Power of Plasma pTau
Simoa Sensitivity Unlocks Power of Plasma pTau 217 Transformational Biomarker for Alzheimer’s Disease Drug Development Continuum Drug Development Clinical Trials Approval & Coverage Market Expansion Surrogate markers of drug Plasma biomarkers for trial Clinical trial biomarker data and Low cost, hig
Slide 28: Q2 2021 Financials
Q2 2021 Financials Q2 (3 Months) YTD (6 Months) GAAP Non-GAAP* GAAP Non-GAAP* • Record Product Revenue $18.7m / +175% In $m 2021 2020 2021 2020 2021 2020 2021 2020 • Non-GAAP Gross Margin 55.1%* /+1,100 bps vs. PYR, Instrument 5.8 2.8 5.8 2.8 12.8 6.5 12.8 6.5 driven by volume, price and productivit
Slide 29: Objectives 2021
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 penetration 65% HD-X
Slide 30: APPENDIX
APPENDIX Q2 2021 Earnings Call | August 5, 2021 | 30
Slide 31: Use of Non-GAAP Numbers
Use of Non-GAAP Numbers Note 1: During the three months ended June 30, 2021, we Total Cost of Gross Operating Loss from recognized $900 thousand in revenue in connection with our In $m Gross Profit Revenue Goods Sold Margin % Expenses Operations workplan 2 award under the National Institute of Healt